Brian F. Spengemann, C.F.A.
Chief Executive Officer
Coventry Capital Inc.
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Brian, let’s begin with a short overview of Coventry
Capital Management. Briefly, what do
you do and how do you do it?
Mr. Spengemann:
Coventry manages common stock
portfolios primarily for individuals.
The objective is to outperform the S&P 500 over a three to five-year
period. For the most part,
growth-oriented issues are emphasized.
The starting point is to pick issues with projected earnings growth
rates in excess of the S&P 500.
If a client has a need for
current income, high quality fixed-income issues are used to provide current income.
The common stock portion is kept intact for
growth in a balanced account format.
You look for fast-growing large companies that dominate
their markets. Please describe what you
are looking for in one of those companies.
Mr. Spengemann:
Large capitalization growth
companies have been the emphasis during the last several years and have
performed very well. In the past two
years, I have been adding medium-size companies to client accounts.
The reason for this shift is that the
medium-cap companies are good candidates for strong appreciation based on the
prospects for above average earnings growth during the two to three year
time frame relative to larger-cap companies.
Regardless of the size of the company, I look at
revenue and earnings growth, return on equity, new products that might be
coming along and the company’s price-earnings ratio relative to the estimated
growth rate.
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