Investment Advisor, Principal, QVM Group LLC

Richard is the managing principal of QVM Group LLC, a fee-based investment advisor based in Connecticut, with clients across the country.

QVM manages portfolios uniquely designed for each client on a flat fee basis through the client’s own accounts at Schwab, Fidelity or ... more

ALL CONTRIBUTIONS

Big Changes With New Communications Services Sector
Even though the sector is not yet official, XLC has raised $368 million in just 2 months of existence.
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Trend Indications For Key Asset Categories
We are positive on stocks, gold, diversified commodities and some municipal bond categories, but negative on most bonds and equity REITs. Money market funds or ultra-short-term, investment-grade debt funds are a good placeholder for bond allocation.
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Compare 10-Year Projections Using Historical And Forecasted Returns
Institutions generally agree that total returns over the next 10 years will be lower than the long-term historical level.
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Maximum Drawdown And Allocation Approaches
Maximum Drawdowns occur infrequently but massively, and it typically takes years to break-even with the pre-crash portfolio value.
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EC Market Notes: Stock Market Breadth Indications And Allocation Opinion
We are in a late stage of this market, perhaps in the 11th hour. Breadth indicators suggest on balance that stocks are not ready to toss in the towel on the Bull.
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E What Types Of Bonds Are Attractive In A Rising Rate Environment?
Bonds are an important part of portfolios, even if in small amounts. We are now in a period of rising interest rates, in which bonds with fixed payments will generate interest income and capital depreciation.
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Comments

Latest Comments
Equity Reallocation Between US, Developed And Emerging Markets
7 months ago

Very kind. Thank you.

In this article: VEA, VT, VTI, VWO
When Someone Asks, 'Should I Own Bitcoin?'
7 months ago

Just lucky timing, but logic supports the call at some time. Wouldn't be surprised to see a strong bounce back, but can't see a long-term future for an unregulated "currency" technically supported by open source software running on a volunteer network of private computers, with most holders not being known to government taxing agencies; and with extremely limited transaction volume and speed capacity (miniscule by comparison to daily banking and credit card volumes and very long by comparison to banking and credit card transaction time)

In this article: BITCOMP, GBTC
When Someone Asks, 'Should I Own Bitcoin?'
7 months ago

I believe that is because their is no name or origin location attached to the transaction record. I am no expert on that, but that I my understanding.

In this article: BITCOMP, GBTC
How To Prepare A Portfolio For War With North Korea
7 months ago

Thanks Bill... at a more extreme level (and related to other hostile players), it could make sense to have asset at more than one dealer or bank in cased North Korea (or other adversaries) decide to and effectively hack a dealer or bank and disable the backup and scramble the accounts data. Even if it would eventually be straightened out, the wait might be too long.

I personally have my assets at three different dealers partly for that reason (but for other reasons too). --- I also believe that keeping PDF and/or paper versions of statements is essential in case proof of holdings ever became necessary...

... sounds silly but I have already learned the hard way. it is not just theory.

I was vested in a pension at the Travelers Ins Co many years ago. When I turned 65 I called to claim my pension, and they said they had no record of me and that I had to prove to them I ever worked there by producing copies of W2 statement (from 40 years earlier).

The SS admin doesn't store data that far back. They get data from the IRS and they don't store data that far back.

I called the ERISA people in Washington DC and they said I could file a law suit (gee thanks, with what evidence?) So I have no money from the time I spend at Travelers.

Fortunately not a big loss, but there is a specific example of electronic records being wiped (in this case by negligence of the parties who bought and sold the Travelers) that put the burden on the individual to maintain records to prove a holding or a right. Keep records on the dealers letter head.

When Someone Asks, 'Should I Own Bitcoin?'
7 months ago

I said, "hundreds of other cryptocurrencies". Should have been more specific. The 10 listed are the 10 most popular or most developed. They are referred to at AltCoins. Don't know if the other hundreds are called AltCoins as well. I will ask editors to add note that the 10 are the leading alternative digital currencies

In this article: BITCOMP, GBTC
When Someone Asks, 'Should I Own Bitcoin?'
8 months ago

Good idea -- yes, this is your generation's bubble -- it may be difficult to short with such a volatile asset because it is difficult to know quite when the time has come -- the whipsaw risk is extremely high -- futures are your only option at the moment, a liquid fund available to short may become available in the future -- GBTC is "hard to borrow" and cannot be used to short at this time

In this article: BITCOMP, GBTC
The Idiot's Guide To High Frequency Trading
3 years ago

Mark,

I we assume that HFT as you define it continues, and if we think of it as just one more structural cost of investing, what do you think that cost is?

Richard

1 to 7 of 7 comments

STOCKS I FOLLOW

AAPL Apple Inc.
ABC AmerisourceBergen Corporation
ACFL AMC FINANCIAL HLDGS
ADP Automatic Data Processing Inc.
AFL AFLAC Incorporated
AFL AFLAC Incorporated
BAX Baxter International Inc
BBRY BlackBerry Ltd
BEN Franklin Resources Inc.
BF-B Brown-Forman Corporation
CHRW C.H. Robinson Worldwide Inc.
CLB Core Laboratories
CMF iShares S&P California Municipal Bond Fund
COST Costco Wholesale Corporation
DVYA iShares Shs iShares Asia/Pacific Dividend 30 Index Fund
EFX Equifax Inc.
EV Eaton Vance Corporation
FAST Fastenal Company
FDS FactSet Research Systems Inc.
GGG Graco Inc.
GWW W.W. Grainger Inc.
HGT Hugoton Royalty Trust
JKHY Jack Henry & Associates Inc.
LCM Advent/Claymore Enhanced Growth & Income Fund
MAT Mattel Inc.
MCK McKesson Corporation
MMM 3M Company
MON Monsanto Company
MSFT Microsoft Corporation
NKE Nike Inc.
OKS Oneok Partners L.P.
PEP PepsiCo Inc.
QCOM QUALCOMM Incorporated
RTM Rydex S&P Equal Weight Materials ETF
SXL Sunoco Logistics Partners L.P.
SYK Stryker Corporation
TIF Tiffany & Co.
TROW T. Rowe Price Group Inc.
UNP Union Pacific Corporation
YUM YUM! Brands Inc.
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Work Experience

Investment Advisor, Principal
QVM Group LLC.
October 2001 - Present (17 years 1 month)
QVM manages portfolios uniquely designed for each client on a flat fee basis through the client’s own accounts at Schwab, Fidelity or Vanguard; and provides investment coaching to "do-it-yourself" investors on an hourly fee basis. The investment approach is based on value, asset allocation, expense control, risk management, customizing portfolios to each client's specific circumstances, and regular communication about strategy and absolute and benchmark performance.

Education

Dartmouth College
1966 / 1970

Publications

Perspectives on Return and Risk Management
Richard Shaw
QVM Group LLC.
QVM Group's blog. The investment approach is based on value, asset allocation, expense control, risk management, customizing portfolios to each client's specific circumstances, and regular communication about strategy and absolute and benchmark performance.
Rational Risk Subscription - $199/Year
Richard Shaw
QVM Group
Rational Risk publishes a monthly subscription letter about a rules-based selection for a consistent and disciplined approach to equity income opportunity selection. The rules identify stocks with a continuous history of dividend payments and dividend increases, above average yield, trading liquidity, financial health and minimum market-capitalization and price, and which are also recommended by one or more recognized research firms. The site provides a sample letter.