W. Morris

Manufactures and distributes parts & components for automobiles, light, heavy duty trucks, farm and construction vehicles and industrial products

Comerica-IM constructs each overlay model’s asset allocation parameters and establishes the percentages for each asset class utilized in the model. They also select the individual investments that are available in each asset class.

WCM uses two different measures to uncover stocks that provide a comfortable margin of safety: the valuation of assets and the valuation of earnings. When valuing assets, they particularly like stocks with 'hidden' assets, such as real estate and oil or gas properties. This is especially true when they foresee a catalyst that has the potential to unleash the value of the hidden assets such as new management or liquidation. When they value earnings, the firm looks for companies with historical and consistent above average returns, low p/e ratios, low price-to-book ratios and low debt-to-equity ratios. WCM likes to understand why a company has been successful and then determines if the circumstances responsible for success are likely to remain in place. The firm is a long-term value investor. Through bottom-up analysis of a company's financial statements, discussions with management and other factors, they seek to consistently generate superior returns over a three to five year period. WCM also applies the margin of safety principle in choosing fixed-income investments for their clients. They believe that their style works because they do not depend on interest rate forecasts or invest in speculative issues. They focus on high quality securities and rely heavily upon credit analysis.

Functions as a College/University

Lakefront's mandate is to identify and invest in well managed, financially strong companies that trade at a meaningful discount to their intrinsic value thus providing a margin of safety and the opportunity for significant upside.

Functions as a regional level government authority

Functions as a College/University

Functions as a College/University

Functions as a College/University