Ted Monsour
Operations Specialist
Global Precious Metals & Precious Metals Stocks
Global Natural Resources – base/industrial metals, energy and related services, agriculture, timber, rare earth minerals.
Global Infrastructure – pipelines, toll roads, data storage, tank farms, electricity, distribution, railways, water infrastructure, airports, marine ports, cell towers, etc. Tend to be income producing and return cash to shareholders.
Global Real Estate – specialty, niche commercial property with tight supply/demand characteristics. Also tend to generate portfolio income
McAlvany Wealth Management’s “Hard Asset” strategy seeks to provide investors with diversification, inflation protection, and a hedge against easy monetary policy, unsound money, and credit. This alternative strategy is designed to be an asset class in its own right, not just a tactical tool to improve returns.
McAlvany Wealth Management strives to educate Clients on the advantages of investing in hard and tangible assets. We believe these assets will protect against some of the risks of the current financial system, including inflation, currency debasement and manipulation, political uncertainty, and monetary policy.
Deep dive research and analysis – We have a history of getting very deep “in the trenches” to understand the value proposition. Asset quality is of paramount importance. All cash flow estimates flow from asset quality, so it is critical to have a well-informed and comprehensive understanding of the assets.
We are bottom-up fundamental investors with a keen emphasis on project evaluation. Asset Value (NAV) best captures the capital-intensive nature of hard/real asset businesses. Returns on Capital Employed (ROCE) over an investment cycle is also a key focus, and we endeavor aim to find companies that can compound returns over the cycle. High asset quality leads to less variability of returns on capital.
Other valuation metrics we incorporate into our analysis include a relative value within a sector as well as absolute value metrics such as Free Cash Flow Yield, Price/Cash Flow, and EV/EBITDA.
Everyone has a voice. Each member of the portfolio management team (five of us) interacts, sharing insights on their coverage areas, debating current portfolio allocations, and sharing feedback on all aspects of the broader financial environment.
On a biweekly basis scoring of performance, fundamentals and technical factors are reviewed for each portfolio position by the entire team with determinations made to maintain, increase, or decrease allocations, balancing risk, and reward.
Weekly technical grading of each asset in the portfolio with relative performance to indices provides insight for further opportunities and requirements to mitigate risk. Frequently a third-party technical analyst joins in to provide further objectivity as a contrarian voice to the team.
Weekly delivered reports include Hard Asset Insights, Credit Bubble Bulletin, and an audio podcast commentary. Quarterly client calls review asset performance and prospective allocations, followed by client question and answer period. Annually our in-person client meetings review all aspects of portfolio construction and performance and provide for a more personalized financial planning dimension to be added to our routine asset management responsibilities.
Deep dive research and analysis – We have a history of getting very deep “in the trenches” to understand the value proposition. Asset quality is of paramount importance. All cash flow estimates flow from asset quality, so it is critical to have a well-informed and comprehensive understanding of the assets.
We are bottom-up fundamental investors with a keen emphasis on project evaluation. Asset Value (NAV) best captures the capital-intensive nature of hard/real asset businesses. Returns on Capital Employed (ROCE) over an investment cycle is also a key focus, and we endeavor aim to find companies that can compound returns over the cycle. High asset quality leads to less variability of returns on capital.
Other valuation metrics we incorporate into our analysis include a relative value within a sector as well as absolute value metrics such as Free Cash Flow Yield, Price/Cash Flow, and EV/EBITDA.
Everyone has a voice. Each member of the portfolio management team (five of us) interacts, sharing insights on their coverage areas, debating current portfolio allocations, and sharing feedback on all aspects of the broader financial environment.
On a biweekly basis scoring of performance, fundamentals and technical factors are reviewed for each portfolio position by the entire team with determinations made to maintain, increase, or decrease allocations, balancing risk, and reward.
Weekly technical grading of each asset in the portfolio with relative performance to indices provides insight for further opportunities and requirements to mitigate risk. Frequently a third-party technical analyst joins in to provide further objectivity as a contrarian voice to the team.
Weekly delivered reports include Hard Asset Insights, Credit Bubble Bulletin, and an audio podcast commentary. Quarterly client calls review asset performance and prospective allocations, followed by client question and answer period. Annually our in-person client meetings review all aspects of portfolio construction and performance and provide for a more personalized financial planning dimension to be added to our routine asset management responsibilities.
Precious Metals Dominant
Highest Allocation to Income Producing Hard Assets
Diversified, A Market Hedge Component
Allocation ranges will be determined by the macro and financial market environments, industry fundamentals, and micro-individual company analysis and operating fundamentals. In extreme market environments, portfolios in any of the strategies may hold a significant cash component (up to 100%) to mitigate risk and to ensure ample liquidity to benefit from future opportunities.
McAlvany Wealth Management is an SEC-registered investment advisor located in Durango, Colorado. Through our client-focused, customized approach, we are committed to providing independent, well-researched, objective advice and investment professionalism. At MWM, our client commitment is to preserve capital, manage risk, and grow your assets in an ever-changing global environment.
Honesty, integrity, and transparency are indispensable qualities in all aspects of our approach to wealth management.
Schedule your consultation now to learn more.
Individual, Joint Tenant, Community Property, IRAs, Roth IRAs, Individual 401(k)s, SEP IRAs, Trusts, Corporate, Conservatorship. These are managed in a separately managed account (sma) format.
We manage accounts through Charles Schwab and/or Interactive Brokers LLC.
We invest in publicly traded stocks, Exchange Traded Funds (ETFs), money market funds, and U.S. Treasury securities. We incorporate 30-50 companies to broadly diversify and provide attractive income yields.
Hard assets/real assets have physical, intrinsic value and provide inflation protection and a hedge against easy monetary policy, unsound money and credit, in an environment characterized by uncertainty, global political instability, and other myriad risks.
Yes, our clients can log in to their account 24/7 via the custodian’s website.
Your account is managed on a discretionary basis, with individual allocations determined through a rigorous team-driven process. The methods and guidelines of that process are explored in more detail within our management agreement.
Our efforts to communicate effectively with our entire client base include proactive outreach using daily curated newsfeeds, weekly venues (Weekly Commentary podcast, Hard asset insights, and Credit Bubble Bulletin), Quarterly portfolio reviews, and an annual in-person client meeting in Durango Colorado. For all other needs, we remain a phone call away.
In many instances, we can. Some limits apply depending on the country of residence.
