Means Investment has been serving investor needs since
1935. David G. Means began the business with sound principles. He believed
that (in his words) "one should not overreact to good news or bad news.
If you study the management of a company, the industry in which it is a
part, historical statistics, use your good common sense and be patient,
more times than not you will be bountifully rewarded". Further, David Means
believed that savings put to work in stocks would provide greater returns
if investors used disciplined strategies.
Investment strategies like slowly accumulating positions when stocks are
down, reinvesting dividend income, holding positions for long periods of
time and then when taking profits, only slowly reducing your positions.
The basics - like not putting all your eggs in one basket (diversification)
and not speculating on the timing of a stock, were innate to the "Means
philosophy". He believed in fundamental analysis but he knew that irrational
forces including fear, greed and ignorance, could effect stock prices in
the short run - but over the long run, fundamental value would prevail.
As the 2nd oldest independent investment firm in the state of Maine, Means
Investment has had to adapt to many of the dynamics of an ever changing
market and certainly cannot rest on the laurels of its 65+ years of success.
Today, Means uses National Financial Services, LLC as it's Clearing Agency. This relationship has allowed the firm great efficiency
in the management of all back-room operations and access to an overwhelming
abundance of research information. Yet, it is the conservative investment
philosophy and strategies of David G. Means that remain the bedrock
foundation on which the firm and its clients continue to prosper.
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