| Hepburn Capital Management

Special Notice about Market Conditions.

Posted on February 28, 2007

I just wanted to provide you with a quick update after yesterday’s big drop in the stock markets and provide you with my ideas on how I plan to respond. First of all it was a big decline. Capital B. And it was broad, affecting just about every market in the world. Bonds were just about the only market segment that did well. Even gold,

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Diversification: When It Doesn’t Work

Posted on June 12, 2006

Diversification: When It Doesn’t Work The most common description of diversification is to not keep all of your eggs in one basket. However, Andrew Carnegie, steel magnate of the late 1800s, had a very different philosophy regarding diversification, “keep all your eggs in one basket and then watch that basket very carefully.” Carnegie was mighty successful, having made so much money by age 65 that

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Hepburn elected to NAAIM National Board

Posted on May 23, 2006

The National Association of Active Investment Managers, Inc. ( “NAAIM” ), at their annual conference, elected Will Hepburn to their Board of Directors. NAAIM is a professional organization of Registered Investment Advisors, mutual fund companies, and hedge fund managers who use active management of client’s assets in their practices. Formed in 1989, NAAIM includes more than 200 member firms nationwide, managing an estimated $14 billion. This

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Time to Sell High?

Posted on January 15, 2006

Anyone watching the real estate market knows that it has been red hot for the past few years. Some would call the real estate market crazy, and some have likened it to the technology bubble of the late 1990’s. Locally, I know a lot of people are involved. I gained a unique perspective on real estate in 1985, when I lost a million dollars in the

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All Time Highs?

Posted on January 10, 2006

All time highs for the stock or bond markets? Well, perhaps if you had been invested with me since 1999 or 2000 you would have seen all time highs because of our dodging losses in the rough years of 2000-2002. This is true even after deduction of all fees and expenses. However, those investors who still cling to the “buy-and-hold-is-the-best-way to-invest” slogan pushed by Wall Street

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