President of Sanco Services Inc.
Phone: 800-245-0494
Contributor's Links: Sanco Services

Steve is a private investment professional, working primarily with individuals and small businesses. He developed the Market Cycle Investment Management Process during the 1970s. He has always focused on individual IGVSI common stocks, CEFs, REITs and MLPs..

Steve invented, uses, and ... more

ALL CONTRIBUTIONS

Understanding "Income Purpose" Investing
Theoretically, income purpose securities should be the ultimate "buy and hold" security blanket within retirement income portfolios.
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Market Numbers Through 2017...Not As Impressive As You Might Think
The S&P has gained approximately 94% in market value over the past 18 years, or an average of less than 4% compounded,annually, so not so much to celebrate in the S&P for the long term investor.
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Investing: There's Always Been A Cliff
With interest rates stranded at historical lows for nine years now, the stock market side of Wall Street has benefited from a self-created image as the only game in town where reasonable "returns" can be had.
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Minimize Your Risk; Become A More Productive Investor
Risk is compounded by ignorance, multiplied by gimmickry, exacerbated by emotion. It is halved with education, ameliorated with cost-based asset allocation, and managed with disciplined quality, diversification, income, and profit taking protocols.
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Tax Free CEF Yields Soar Above 6%; Taxables Breech 8.5%
Add to your CEF positions as patiently and selectively as you can. This will: Reduce the cost basis of each share you own. Increase the current yield of each position you add to. Increase the yield and total income of the entire portfolio.
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Wall Street's Penny Parasites
At approximately five million "sell" trades per day, roughly $200,000,000 pennies are siphoned from our investment and retirement portfolios into Wall Street's already deep pockets.... as the regulatory posse stands idly by.
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Comments

Latest Comments
Income Closed End Funds And Total Return Analysis
2 years ago

...lower stock prices are a cyclical fact of life, an opportunity to add to positions at lower prices. There need be no panic selling in high quality holdings, and no flight to 1% Treasuries from 6% tax free Munis... dividends and income keep rolling, providing income for retirees, college kids, and golf trips ---

How To Be Prepared For Rising Interest Rates
2 years ago

The purpose of income investments is the generation of income. You are not a bond trader... Control the quality selected, diversify properly, and compound that part of the income that you don't have to spend. Price is pretty much irrelevant; you can't pay the bills with market value.

One Person’s Bond Crash Is Another’s Income Opportunity
2 years ago

Yes, YOU can be the Master of this Universe!

Is Your Investment Portfolio Prepared For Higher Interest Rates?
2 years ago

Actually, the financial crisis was the only time that the CEFs "crashed" almost along with the stock market... they typically fall quite a bit less, get "discovered", and rise more quickly than the averages in the recovery.... Investment Grade Value Stocks also outperform the general market in terms of both drawdown and initial comeback.....

I use CEFs to DEVELOP an income program either as part of every portfolio or all of a retirement portfolio... a lower price most often (in my experience) is simply an opportunity to increase yield and decrease cost basis per share in one fell swoop.

Ironically, as a professional, I'm not permitted to give direct advice in a forum like this, or specifics...but as a general rule, it's best to treat income CEFs as income purpose securities regardless of what people think the "future" will bring.

The Investment Gods Are Furious
2 years ago

...lower stock prices are a cyclical fact of life, an opportunity to add to positions at lower prices. There need be no panic selling in high quality holdings, and no flight to 1% Treasuries from 6% tax free Munis... dividends and income keep rolling, providing income for retirees, college kids, and golf trips --- regardless of what the security market values are doing.

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PERSONAL BLOG

Latest Posts
Asset Allocation: Time For An "Income Bucket" Adjustment
There's no doubt that your long-term spendable income numbers will benefit from paying all IRA fees from a separate portfolio large enough to produce income in excess of the fees being withdrawn.
R U Ready For The Next Stock Market Correction?
MCIM was 15 years old when the 50% "Black Monday" correction struck 10/19/87. The market "break" provided best buying opportunity since the great depression. Then as now, there's no need concern if you have "income immunity" to market value change.
Predicting Stock Market Directional Change
In 1999, all high quality securities lagged, while speculators pushed technology sector prices into the stratosphere... sound familiar? NASDAQ today is up just 25% from March 2000 levels, 1.45% growth per year. What's propelling the market now?
Investment Genius: When Foresight Trumps Hindsight
What kind of strategy makes sense when all securities' prices are at their highest levels... ever!? Time to re-read this July 11th article about strategies for riding the perfect market wave

Work Experience

Senior Instructor
Kiawah Golf Investment Seminars
May 2008 - Present (9 years 11 months)
Steve conducts a series of on-line Investment Web-Workshops for small groups, and on-sight, face to face investment workshops using the Kiawah Golf/Tennis/Beach Resort facilities.
President/ Investment Manager
Sanco Services, Inc.
September 1979 - Present (39 years)
Until October 2010, Steve managed individual investment portfolios w/o Wall Street products --- strictly individual securities. He used a methodology that he developed nearly 40 years ago and that he's been refining ever since. Steve think in terms of market, interest rate, and economic cycles as opposed to calendar years, and focuses on the productivity of the assets in a portfolio, as opposed to day to day changes in their market values.

Education

Pace University - Lubin School of Business
MBA
1972 / 1975
Professional Management
Gettysburg College
BA
1963 / 1967
Business Administration

Publications

The Brainwashing of the American Investor: The Book That Wall Street Does Not Want You to Read!
Steve Selengut
1st Book Library
06/20/2002
"The Brainwashing of the American Investor" is an expose' of the conflicts of interest that plague Wall Street. From stock analysts to retail brokers, no cow is too sacred for this scathing and informative investigation of the Wall Street culture and the financial pros who dwell there. What you discover will give you a whole new understanding of investment product pitfalls, and a totally new, objective based perspective for designing, creating, and managing your personal investment portfolio.