C.J. Lawrence is a boutique investment management firm based in New York City with a legacy dating back to 1864. It combines the talents of a highly experienced portfolio management team within an environment entirely focused on investment management. CJL specializes in separately managed accounts for high net worth individuals, families, trusts, foundations and institutions. Cyrus J. Lawrence LLC is an independent, privately owned, SEC‐registered investment advisor.
CJL’s portfolio management team uses its extensive investment experience to anticipate changes in global markets and identify investable longer-term growth trends. A key sector we are currently focused on is healthcare, which is being transformed by being at the intersection of biology and data science. Another is omni-channel retail, where e-commerce is converging brix & mortar retail. Digital transformation is a theme which permeates through almost all sectors and is at the forefront of many of our core holdings. Analytical rigor and proprietary investment disciplines are the foundation of our portfolio management process. From analysis to implementation, the firm’s portfolio managers serve as your trusted investment manager and advisor. This combined approach is what sets us apart.
Our legacy is deeply rooted in proprietary research. Today the firm continues to publish regular reports and videos on portfolio strategy, the economy and markets which are made available to our clients. CJL’s publications are frequently quoted in the financial press.
CJL Bulldog Equity Portfolios
Over the past 25 years CJL’s portfolio managers have applied a qualitative discipline to establish a buy-universe of no more than 200 stocks of companies that embody what CJL calls Bulldog characteristics. Bulldogs are companies that are intensely focused on taking market share in growing sectors. These companies dominate or disrupt their competition through a combination of financial strength, innovation, economies of scale, product or service differentiation, and management talent. Bulldogs are not limited to traditional growth sectors. While most of our Bulldogs universe is domestic, an increasing number of candidates are surfacing from other developed economies and rapidly growing emerging markets. CJL Bulldog Portfolios are designed to be a core-equity strategy.
When our investment philosophy was first highlighted in Barron’s more than 20 years ago (“Buy A Bulldog”, 1997), we were still living in a largely analog world. The infrastructure of today’s digital economy was just being built. Then, we observed that future long-term investment success would be influenced by investors’ understanding of how pronounced changes in global competitive conditions impact equity performance. Today, the pace of competitive change and realignment is more intense than ever, especially in the wake of the covid-19 pandemic.
To perform, successful companies need to demonstrate Bulldog characteristics which CJL’s portfolio managers first began to identify in the early 1990s. Growth is driven by a company’s ability to innovate, adapt, and drive unit growth. The challenge for us is in discerning uniqueness, competitive fervor, and competitive moat which CJL applies to its stock selection process every day.
CJL’s Portfolio Management Team
CJL’s experienced portfolio management team, led by Bernhard Koepp, its CEO, has been applying its Bulldog strategy for over 25 years. CJL Bulldog Portfolios are available as a separately managed account (SMA). Our equity strategy can also be combined with an allocation into fixed income.
For more information on our firm visit our website at cjlawrence.com or subscribe to our YouTube channel at ‘C.J. Lawrence’ for regular market commentaries.
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