At Campbell, Lee & Ross, we offer institutional portfolio construction for high net-worth investors by melding top down positioning with bottom-up research.
We construct portfolios by combining top down portfolio positioning with fundamental bottom-up research.
Top-Down Macro Positioning
Economy – Interest rates (inflation v deflation), economic cycle, GDP, CPI, currency and commodities
Sector Outlook – Earnings growth, free cash flow
Sector Value – Relative to history, relative to other sectors
= Portfolio Positioning
Bottom-Up Fundamental Research
Evaluate All Opportunities – Canadian, US and Global investable universe
Growth Outlook – Cyclical issues, strategic assessment
Research – Industry & investment analyst reports/interviews, conferences, management calls and interviews
Valuations – Methodology varies by sector, relative to peers and history
= Return Expectations
Stocks with the greatest upside have the largest relative weight. This is combined with a qualitative and quantitative risk assessment to produce a well-diversified portfolio.