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Brave Investing During a Sell-Off Pays Dividends
Market Volatility is no Reason to Shy away from Further Investing
It’s no secret that, when Warren Buffett
talks, people listen. Everyone
wants to know what investments
he’s getting into – and what he’s dumping.
Buffett is perhaps the modern day
version of E.F. Hutton, whose famous
1970s and 1980s television commercial
made that version of the catch phrase
infamous.
Caleb Overton, CMT of Biltmore
Wealth Management, LLC, based in
Santa Barbara, California, has no reservation
admitting that he always pays
close attention to what Buffett is saying
and recommending.
“I follow the advice of Warren Buffet,”
Overton said. “Some of the best advice
Buffett has provided is to read as much
as possible every day and that over the
years, the accumulated knowledge
will pay you great dividends.”
In heeding that advice, Overton has
secured a significant library of various
financial investment research publications
from a variety of sources, and
he’s reading them every day – just as
Buffett suggests.
“From the information I am gleaning, I
have been able to navigate the markets
much better and have become an even
greater asset to my clients,” he noted.
For the first nine years in the financial
services business, he started out by
selling a mixture of financial products
and providing advice on a fee-only basis.
Overton hung out his own shingle,
called Biltmore Wealth Management,
two years ago. He made the full transition
to a Registered Investment Advisor
(RIA) away from commission income
and his firm is now 100-percent
compensated via the fee-only model.
Most of his clients range in age from 40
to 70 years old, and are either self-employed
or are owners of small businesses.
His firm’s account minimum is
$100,000. Many of his clients share the
same interests as he does outside of financial
services. Overton believes that
being able to discuss similar hobbies
and interests gives him a trust-building
platform from which to conduct
business.
He’s also a big believer in matching a
client’s investment strategy to their financial
goals like a comfortably-fitting
glove. That’s why he designs a variety
of portfolios – from conservative to
moderate to aggressive – based on the
individual risk tolerance of each client.
Starting his financial career in 2003,
Overton had a half decade of his own
entrepreneurial experience before the
Great Recession struck in 2008. He vividly
remembers the fear his clients experienced
during that time.
“Clients were afraid to make any decisions,”
he recalls. “They became paralyzed.
They did not want to make a
wrong decision so they sat back and
did nothing .”
“That,” Overton said, “Was not a profitable
plan.” He decided to give financial
seminars, to encourage clients to
remain invested in the market and to
take an even bolder step by not only
considering, but by adding to their investments.
“They needed to embrace the situation,
as it provided great opportunity
to buy into some great companies at
very cheap prices,” Overton explained.
“Times of extreme volatility within the
market do present challenges to an advisor
to keep calm and calm his clients
as well– and teach them that yes, this
is not comfortable. But you can get
better returns over time if you remain
invested for the long haul and take advantage
when these situations present
themselves. It is one of the hardest concepts
to execute, but when the market
has a seven to ten percent sell-off, that
is the time to step in, be brave and buy
a great stock at a discount during that
volatility.”
735 State St., Suite 207
Santa Barbara, CA 93101
Phone: 805-770-3777
www.biltmorewealth.com
THE SUIT MAGAZINE - JULY 2014