Frederic G. Burke is the Senior Vice President and Manager of Sandy Spring Trust. Mr. Burke has over 25 years of extensive experience in fiduciary and asset management. Prior to joining Sandy Spring Trust, he served as President and Chief Investment Officer of Johnston Lemon Asset Management. Mr. Burke has published numerous articles and monthly essays on current fiduciary and investment issues, has been commended by the Washington Business Journal for “his level head and ability to avoid bubbles,” and continues to be interviewed by business publications regarding wealth management strategies. Sandy Spring Trust is the fiduciary and investment entity of Sandy Spring Bank. Sandy Spring Trust has a long-established reputation for patience, consistency and skill in the management of investment and fiduciary relationships. We currently manage around $1.4 billion for trust, high net worth and not-for-profit organizations in the Washington, D.C. area.
Frederic Burke points out that the macro picture has many dark points but is overall bright. “Rather than focusing on known risks with unknown outcomes, most markets appear to be focused on underlying fundamentals. New records are being set by stocks, investor sentiment is positive, and households’ exposure to equities is not at an extreme, all of which suggest that this market has some “legs.” Economic growth and consequently investment growth is an incredibly complex process. The current market will be followed by a bear market, and a significant tightening by the Fed will provide the signal.”
Mr. Burke reveals a large number of his top tier large cap portfolio picks, and has invested in money center banks at this point in the economic cycle. “A good example of a large cap with a strong dividend policy which we favor is JPMorgan Chase (NYSE:JPM). They have a great franchise with a nimble management team. They have done a fantastic job of taking costs out and understand the implications of the regulatory environment. Johnson & Johnson (NYSE:JNJ) and Citigroup (NYSE:C) have similarly aggressive management teams.”
For more large cap recommendations from Frederic Burke, read the entire interview at the Wall Street Transcript.