• Portfolio 1

• JSRATLANTA'S OTHER POSITIONS
• :: AAPL
• :: AFL
• :: CHD
• :: CMI
• :: DD
• :: ERJ
• :: FPL
• :: GWW
• :: ICE
• :: KO
• :: MTD
• :: PAY
• :: TIF
• :: UNP
• :: WU
• :: XTO

•  
• :: ADBE
• :: CAT
• :: CMCSA
• :: CSCO
• :: EMR
• :: EXPD
• :: GE
• :: HPQ
• :: KMT
• :: MCO
• :: NYX
• :: PEP
• :: TMO
• :: VOD
• :: XOM
•  

• Portfolio 2

• JSRATLANTA'S LARGE HOLDINGS
• :: ABT
• :: BRKB
• :: COST
• :: GS
• :: MDT
• :: PG
• :: WFC

•  
• :: AXP
• :: COP
• :: DEO
• :: HD
• :: MO
• :: SYK
•  

• Portfolio 3

• JSRATLANTA'S Watch List
• :: ALL
• :: AUY
• :: BCS
• :: BWA
• :: CLX
• :: CMI
• :: DHR
• :: GLW
• :: HAIN
• :: HIG
• :: ITW
• :: MA
• :: MMM
• :: PBR
• :: SNA
• :: SYY
• :: TIN
• :: USB
• :: WAG
•  

•  
• :: AMGN
• :: BBY
• :: BDX
• :: CHS
• :: CMG
• :: CPS
• :: FLR
• :: GSK
• :: HAL
• :: ING
• :: JEC
• :: MCD
• :: NVS
• :: PNRA
• :: SXE
• :: TGT
• :: TMO
• :: VFC
• :: WOS

• Portfolio 1

• JSRATLANTA'S OTHER POSITIONS
• :: PFE
• :: GOOG
•  

•  
• :: MSFT
• :: BAC

Jeff has been a practicing corporate attorney on Wall Street and inhouse Fortune 100 companies for over 17 years, specializing in Finance, M&A, Joint Venture and Technology Transactions.

Jeff is a long term investor who focuses on great brands/franchises and who have a strategic vision beyond next quarter. Jeff has a very strong value orientation in terms of picking entry points for new investments but is not afraid of growth stocks at the right price. Jeff isn't particularly effective at shorting stocks but loves using GTC buy orders to identify attractive entry points for stocks on pullbacks.

Jeff focuses on companies that are good stewards of corporate capital. For free cash flow that the companies keep, he believes that companies should return superior ROIC. That is the difference between Berkshire Hathaway (superior ROIC) and Pfizer (not so much).

For free cash flow that companies decide to return to shareholders, he favors companies that pay out and grow their dividends. Dividends which represent an ongoing (rather than short term) commitment to return free cash flow to reward shareholders that want to remain shareholders.

By the same token, he distrusts buybacks because (i) they tend to exaggerate earnings growth by shrinking the share count rather than increasing earnings; and (ii) often times, they don't reward shareholders, they reward people who want to sell their shares.

Lastly, in a global economy, just because he lives and invests in the US, the world no longer revolves solely around the dollar.
Jeff fully expects that companies doing business should be able to manage their currency exposures and build that into their earnings guidance. It does not diminish the quality of earnings simply because more of the earnings came from around the world. It should enhance it. But companies can't have it both ways: they should not blame shortfalls on currency swings either. If you are global, it is your job to manage the currency fluctuations.