Richard E. Buchwald, CFA, is a Managing Director at Logan Capital Management, Inc. Mr. Buchwald has more than 30 years of investment management and investment banking experience. He is a co-developer and manager of the proprietary Logan Concentrated Value and Logan International ADR equity portfolios. Marvin I. Kline, CFA, is a Managing Director at Logan Capital Management, Inc. Mr. Kline has more than 30 years of investment management and investment banking experience. He is a co-developer and manager of the proprietary Logan Concentrated Value and Logan International ADR equity portfolios. Mr. Kline was formerly President of Berwind Investment Management, L.P.
In this exclusive interview (word count of 3,677) in the Wall Street Transcript, these two award winning portfolio managers discuss their investing strategy and top picks.
“We have been managing this portfolio for 11 years and one quarter through the end of March 30, 2018. It is an international high dividend yield strategy. We focus on companies with a minimum market cap of $15 billion that are paying dividends. Our entire universe is dividend yield-paying companies in developed markets. ”
The Logan International investing methodology has been developed over the course of decades for maximum return.
“We go through various screens, and to get comfortable with the company, we will roll up our sleeves and dig into the numbers, meaning we don’t just use a computer model to determine which stocks are qualified for purchase. Those screens get us down to a viable universe of somewhere around 125 stocks that we view for purchase.”
“Our major criteria for stock selection from that 125 is that we want stocks that are high, as in the highest in dividend yield versus those in their sector, country yield, developed market or EAFE yield. For example, in Japan, the current yield is around 2% on a dividend, so anything in Japan that we are looking at would have to have a dividend yield of 2%. If you are looking throughout the entire universe of developed markets outside the U.S., the average yield is 3%, so anything above 3% would be qualified for purchase.”
Read the entire 3,677 word interview in the Wall Street Transcript to get the specific stocks recommended in the Logan International portfolio.
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