Research

At the core of our research philosophy is a measured, value-oriented investment discipline that often requires going against the grain to take a stand on unpopular, contrarian positions.  We believe our philosophy helps us cut through market turbulence and enables us to be opportunistic in taking advantage of temporary dislocations in the value of quality investments.

Our stock selection process relies on a rigorous fundamental approach to determine the intrinsic value of an investment.  This involves a thorough evaluation of a company’s industry, products, operating model, management and competitive strategy, and an in-depth understanding of its long-term financial capabilities. Combined with our view of macro trends and a healthy skepticism of conventional sentiment on the Street, this process delivers necessary insight about the existence of a market miscalculation and the investment’s return potential in the context of the risks involved.

Ideas that emerge from our research process are added as recommendations to our flagship Focus List product.  While the objective of the Focus List is to outperform the S&P 500 index, we rarely mimic the industry weightings of the index, instead seeking to uncover the sectors and investments where the greatest value can be found. While taking into account each individual’s unique investment objectives, MWR’s investment advisors heavily rely on the Focus List, which provides the basis for the equity portfolio construction process for clients. 

In addition to investigating national and international investment opportunities, given our regional roots our research team also covers a number of companies based in the Pacific Northwest.  Many of these businesses – including Starbucks, Paccar, Costco, Microsoft, and Amazon.com – have established formidable legacies worldwide and have an enormous local impact.  Coverage and familiarity is strategically important for our company and clients.

Important Disclosures:
No investment process can prevent losses or ensure future gains.  Past performance is not a guarantee of future results.  Investments recommended by the Research Department will not be suitable for all accounts; suitability determinations are made by the individual financial advisor based on information provided by the client.  It is important that clients review the suitability information on file and update it promptly when circumstances change.  Research reports issued by MWR do not contain a complete analysis of every material fact regarding any company, industry or security. The opinions expressed reflect our judgment at a particular time and are subject to change. Our firm, or its officers, research personnel, other employees or customers may have long or short positions in the securities or options of the recommended issuers, may buy and sell the securities or options, may serve as an officer or director of any company mentioned, prior to or at the time of publication of the report or thereafter.