February 16th, 2012 21:38 EST
What Your Mother Never Told You About Income Investing
Investors are a very dependent group of people, particularly now that most employed persons have been given the responsibility of directing their own savings and investment programs.
Mother Wall Street has monopolized this huge market, and nursed its children first on Mutual Funds and now on derivative betting mechanisms they call index ETFs. ETFs are the unhealthy investment equivalent of a diet of fast food, limited protein, and high energy fusion products. Designed to massage a limited-work and understanding, instant gratification mentality, these buzz word products have separated IRA, 401(k), and most non-professionals from an appreciation of the basic building blocks of investing --- stocks and bonds.
There is just no room at the Mall for the plain vanilla, but long range, thinking that goes into the development of an income producing investment portfolio. When I was a child, my father schooled me on the power of compound interest. How many of you, listening today, are fluent in compound interest tables?
Investment portfolio manager. BA Business, Gettysburg College, MBA, Professional Management, Pace University, Paul Harris Fellow, Phi Gamma Delta, AAII member & speaker, Steve Selengut was a private investment manager from 1979 through October of 2010, as the CEO of Sanco Services Inc. He now serves as a consultant to other entities.
His life experience as an investor started in 1970, at age 25, when he was given the responsibility to manage a $60,000 portfolio. He developed an Asset Allocation Model then (decades before the concept became popular) that he still uses today, and a trading approach to investing that allowed him to start his own business at age 34.
In the twelve years from college, through institutional pension investment, and graduate school, Steve developed an appreciation of the complete Wall Street (political, social, and economic) environment. Using this understanding of the playing field " (and a portfolio that provided all the income his family needed), he took his new investment ideas and concepts on the road.
Building an Investment Management business with no corporate sponsorship, no products to sell, and just two management clients was a daunting task. Fee-only personal investment management without mutal fund commissions or product sales was a revolutionary approach in 1979.
Steve developed a loyal following of dedicated clients, many of whom were with him for most of his career--- the two who helped start the business in 1979 remain as (indirect) clients today. Many non-clients use his unique portfolio management methodology and a select few have been taking advantage of his mentoring services.
He has published hundreds of investment (and tax reform) articles, and three investment books. He invented the Working Capital Model, developed the IGVSI, and has introduced many new investment concepts, including: Market Cycle Investment Management, The Investor`s Creed, Smart Cash, the QDI, Base Income, Securities Buckets, and others.
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