Our Investment Process
Owning Good Companies We are only interested in owning good companies, but we can turn a good company into a bad investment if we pay too much for it. We use a business-like evaluation of each company designed to identify what a company is worth as a business. Return on Equity and Price per Earnings Since World War II the average return on corporate shareholder equity has been about 14%. We like better than average companies, so we look for companies with ROE over 14%. In a climate of 2 1/2% inflation and 4-5% interest rates we need to see [...]
Jeff Muhlenkamp on the Claman Countdown 8/15/2023
Jeff Muhlenkamp was part of the live interview, “Fed must keep rates ‘higher for longer’ if US economy is going to grow: Stephen Guilfoyle” aired on August 15, 2023. If you wish to view this video, visit Fox Business Network’s The Claman Countdown here: Watch a Recording of Jeff’s Interview . Please note that clicking here leaves the Muhlenkamp and Company website and enters a third-party website. Muhlenkamp is not responsible for, nor can guarantee the accuracy of, any information contained on a third-party website. In the interview, Jeff explains why he isn’t a momentum investor. He also discusses his [...]
Jeff Muhlenkamp Quoted in Wall Street Journal
Jeff Muhlenkamp was quoted in the Wall Street Journal article, "Dow Notches Longest Winning Streak Since 1987," published on 7/27/2023. If you have a WSJ subscription, you can click here to read the article The opinions expressed in the article are those of Muhlenkamp and Company and are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Jeff Muhlenkamp on The Claman Countdown 6/26/2023
On 6/26/2023, Portfolio Manager, Jeff Muhlenkamp was a guest on The Claman Countdown. Watch the episode, “Oil markets moving on aborted Russian mutiny a knee-jerk reaction: Jeff Muhlenkamp,” available on the Fox Business Network website. Watch a Recording of Jeff’s Interview Please note that clicking here leaves the Muhlenkamp and Company website and enters a third-party website. Muhlenkamp is not responsible for, nor can guarantee the accuracy of, any information contained on a third-party website. The opinions expressed in the video are those of Muhlenkamp and Company and are not intended to be a forecast of future events, a guarantee [...]
A Walk Down Memory Lane
Read Ron’s essay about his experiences since 1965. Ron has lived and invested through the ups and downs in the market and the economy. Click here to view A Walk Down Memory Lane
Jeff Muhlenkamp on The Claman Countdown 1/31/2023
On 1/31/2023, Portfolio Manager, Jeff Muhlenkamp was a guest on The Claman Countdown with host Liz Claman. Watch the episode, “Wall Street facing ‘steep selloff’ if January jobs number comes in hot: Scott Bauer,” available on the Fox Business Network website. Watch a Recording of Jeff’s Interview Please note that clicking here leaves the Muhlenkamp and Company website and enters a third-party website. Muhlenkamp is not responsible for, nor can guarantee the accuracy of, any information contained on a third-party website. The opinions expressed in the video are those of Muhlenkamp and Company and are not intended to be a forecast [...]
State of the Economy – Fall Update 2022
Jeff Muhlenkamp brings us up to date on what he is monitoring in the investing environment. Some things he keeps an eye on are the Consumer Price Index, the money supply, consumer spending, business investments, and the strength of the dollar. Ron Muhlenkamp also comments on the current high inflation and how we have been though similar times in the ’70s. Here is a link to the slides used during the presentation or watch the video from the in-person seminar. The opinions expressed are those of Muhlenkamp and Company and are not intended to forecast future events, guarantee future results, [...]
Ron’s Charts 2022
Here are some of Ron’s favorite documents for your reference: – Basic Financial Maxims I Want My Kids to Know – Corporate Profit Margins – Employment Costs – Reading List for Life and Investment Fundamentals 101 – Reflecting over 40 Years—Lessons Learned and Changes Observed – Technology Adoption in U.S. Households (Interactive chart available on Our World in Data website.) – U.S. Personal Consumption Expenditures Per Capita – U.S. Workers Are Owners: They Just Don’t Realize It – 2022.02.16 Ron’s Presentation with Itai Parnes The opinions expressed are those of Muhlenkamp and Company and are not intended to forecast future events, guarantee future results, or offer investment advice.
Value Investing Live Recap with Ron Muhlenkamp
GuruFocus invited Ron Muhlenkamp to be a guest speaker on the Value Investing Live series. During Ron’s presentation on August 18, 2021, he covered the following topics: • The Problem with Inflation • Inflation, Business Cycles, & the Population • Failure of Macroeconomics • Fundamental Value • Life Cycle of Industries • Market Corrections • Audience Q&A Graham Griffin, Editorial Assistant at GuruFocus published the following article, “Value Investing Live Recap: Ron Muhlenkamp,” which includes a link to Ron’s presentation. We hope you enjoy the summary and the video! Please note that clicking here leaves the Muhlenkamp and Company website and [...]
Achieve Financial Independence
A Virtual Lunch & Learn Series “Financial Independence: It’s Not a Sprint, It’s a Marathon” Part 3: “Achieve Financial Independence” We talk about achieving financial independence and what retirement means to you. It’s different for everyone, but basically it means that you CAN still work but you don’t HAVE to work to bring in any additional earned income. Start by setting SMART goals, prioritize spending, save and invest early. Have a written plan for retirement and revisit it often. Have a plan to pay for education expenses. Achieve Financial Independence from Muhlenkamp & Co on Vimeo. If you missed Parts [...]