Lawrence Thomas McGowan

Arbor Capital’s equity discipline seeks to provide investors with superior total returns over complete market cycles with lower than average risk. The firm uses a multi-disciplined hybrid process that combines elements of a top-down and bottom-up approach through quantitative and qualitative analysis. They buy companies that grow more rapidly or distribute higher percent of earnings through dividends as well as have lower P/E's, stronger credit and higher Return on Equity than the S&P 500 average. Arbor Capital’s fixed income style is a combination of interest rate anticipation and sector rotation. They focus on the economic condition in the contexts of the current business cycle and longer-term secular trends. The firm looks at spreads between available sectors to help determine best relative value and intrinsic characteristics that might bolster credit-worthiness or modify risk/return characteristics, such as stability of the underlying revenue source, defeasance and liquidating preference. Their turnover is low.