Investment Philosophy

Our investment style is best described as opportunistic.  It is our view that positive investment returns can best be achieved by being flexible.  As the stock market mood swing from favoring growth to value stocks, we want to benefit from those swings rather than being stubbornly wed to one style.  This flexibility is further complemented by our diversification, which includes a willingness to invest globally through ADRs and Exchange Traded Funds (ETFs); real estate through REITs that provide income, reduced volatility and an inflation hedge; and convertible bonds that may provide our accounts with exposure to growth investments with lower risk.

Many of our clients are families and we often deal with several generations.  In recent years, it has become clear that managing portfolios for individuals and families can, and should, be different from managing for institutions.  As managers we do not feel pressured to be fully invested at all times and in an overvalued market this option may benefit our clients.  We are also sensitive to tax considerations and that the total sale of a stock with a large gain may not be in the best interest of a domestic, taxable account.  We also have ample experience in managing accounts for foreigners and what constitutes the best tax strategy for these accounts.  Although the ideal investment is a long-term one, we are not averse to taking advantage of short-term opportunities.  The emotions that prevail in the stock market lead to overbought and oversold equities even in our most attractive holdings. Our primary objective is to maximize our returns by maintaining flexibility in our investment style.

Overview

Baltimore Capital Management, Inc. is an investment advisory firm established to manage individual portfolios for domestic and international clients seeking professional investment advisory services.  Our clients may include: individuals, pension and profit sharing plans, trusts, estates, and charitable organizations.  Our Portfolio Managers average over 25 years of investment industry experience covering trading and portfolio management.

Investment Process

Our investment process draws on our many years in the business and contacts developed over that time.

US EQUITIES

Investments are made both as short-term trades and as longer term holdings.  A long-term holding would generally be a growth company bought at an attractive valuation

INTERNATIONAL EQUITIES

There are various ways for us to access the international markets.  The growth of Exchange Traded Funds (ETFs) allow us to efficiently invest in most equity markets throughout the world.  Closed End Country Funds are also of interest when they trade at discounts.  For a more targeted approach we may use ADRs (American Depository Receipts) of companies we view as attractive, especially in markets like Latin America that we know particularly well.  The selection of ADRs or foreign shares traded on US markets is large enough to allow us access to some of the most interesting foreign companies. 

REITs

Our portfolio managers have traded and invested in this sector for over 20 years.  Our goal is to buy REITs with growing dividends, capable management, and a geographic or property type specialization.  We have learned over the years that yield alone is not the most important criteria in REIT investing.  Growth in cash flow is what ultimately lead to higher REIT dividends. 

CONVERTIBLE BONDS

Our goal in convertible bond investments is to try and own the convertible bonds of growth companies as a lower risk vehicle than the equity security. 

Contact Us

At Baltimore Capital Management, Inc. we look forward to hearing from you, no matter what method you prefer.  Please contact us at your convenience and let us know how we can help you.

MAILING ADDRESS
Baltimore Capital Management, Inc.
575 South Charles Street
Suite 506
Baltimore, MD 21201

PHONE  410-727-4480   //   800-286-6082

FAX  410-783-7917

EMAIL  agraham@baltimorecapital.com

Your Account

Below you will find links to each of the institutions where clients have their accounts custodied.  Please note that these links will take you away from the Baltimore Capital Management, Inc. web site.



Baltimore Capital Management, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herin.