We believe in long-term, value oriented investing. Our “fundamental” investment philosophy is patterned after the Warren Buffet style of value analysis. This philosophy focuses on buying stock in quality companies at a discount to their intrinsic values as an ongoing business. We look for established, large and mid-cap companies that offer exceptional value relative to their own history and compared to their industry peers. A key criterion is the inherent attractiveness of being a long-term owner of the business in question, as measured by the sustainability of its profitability and returns. We search for companies that have strong brands and highly defensible positions in their industry. Emphasis is given to growing companies that produce a surplus of cash that they faithfully return to shareholders through stock buybacks and/or rapid dividend growth. This approach tends to lag in performance during raging bull markets, but tends to outperform during neutral to down markets, providing a superior risk-adjusted return. Consistency and reducing the likelihood of a negative outcome over a reasonable holding period are hallmarks of this philosophy and approach.
We also believe in tax efficiency with low portfolio turnover and high dividend paying stocks. Our traditional investment is measured in years and offers a dividend yield 30-50% higher than the market average. This investment philosophy allows our clients to participate in market gains while providing consistent income for ongoing living needs.
Philip J. Keating, CFA
Chief Investment Officer
Senior Portfolio Manager
Phil Keating, a resident of South Florida since his childhood in the 1950's, has been a full-time investment professional for the past thirty-one years. In 1993, Mr. Keating founded Keating Investment Management Company to manage portfolios for individuals and retirement plans. Prior to starting his own firm, he was President of Keating Management Company, Inc. from 1977 to 2001, Vice President and Director of Research for Keating Investment Counselors, Inc. from 1984 to 1993, and advised a major Florida trust company regarding investment strategy, asset allocation, sector weighting and stock and bond recommendations from 1985 to 1993. From August 1994 to its purchase on June 30, 1995, Mr. Keating was the sole portfolio manager of a total of $160 million in assets for the ABT Utility Income Fund and the ABT Growth and Income Trust. In April 2007, after his brother’s untimely death, Phil assumed his current position as Chief Investment Officer and Senior Portfolio Manager for Keating Investment Counselors.
In addition to portfolio management over the years, Phil Keating has also been very involved in the South Florida community promoting investment education through various non-profit venues. He has been a prominent speaker at multiple annual equity panel meetings of the Financial Analysts Society of South Florida. In October 2000, he served as an instructor on Investing in Stocks for the Long-Term at the Securities and Exchange Commission Town Meeting in Ft. Lauderdale. Phil is also a featured speaker at the national InvestEd annual conference which brings together the best in investment education for individuals and investment clubs from across the country. Moreover, he has produced the Dividend and Growth Screen columns for Better Investing magazine since 1989. Additionally, he has appeared on CNBC and has been quoted on investment topics in various publications including The Wall Street Journal, USA Today, Smart Money, Changing Times, The Miami Herald, The Chicago Sun Times, The South Florida Sun-Sentinel, The Palm Beach Post, The Orlando Sentinel, and many others.
In recognition of Mr. Keating’s commitment to investor education, he received the annual Distinguished Service Award from the NAIC Investment Education Institute in 1994. With this honor, he joined former investment manager recipients Sir John Templeton, Warren Buffett, and Peter Lynch.
Since 1991, Mr. Keating has held the Chartered Financial Analyst designation and is the outgoing President of the CFA Society of South Florida. Mr. Keating is also past President of the Financial Analysts Society of South Florida and the Stock and Bond Club of South Florida. Phil graduated Magna Cum Laude from the University of Miami with a B.A. in Sociology and Psychology in 1965. He was a NASA fellow, did graduate studies in Sociology and Political Science, and taught at Purdue University from 1965 to 1968. Mr. Keating did his graduate studies in Finance at Florida Atlantic University from 1968 to 1970.
Richard T. Keating, CFA
Richard graduated with honors from the University of Florida in May 2007 with a Bachelor’s degree in finance and a minor in history. Richard has been working at Keating Investment Counselors, Inc. since the end of April 2007, analyzing investments as well as managing portfolios. Mr. Keating has held an interest in investing since his childhood and had the pleasure of learning investment philosophies from his father, Jeff, throughout his life. Richard continues to learn investment techniques from his uncle, Philip, as this knowledge has now been passed down through three generations in the Keating family.
Mr. Keating initially worked for the firm in 2003-2004, assisting with securities research, among other responsibilities. Richard also completed a summer internship at Cypress Capital Group in 2006. At Cypress, he was responsible for analyzing existing holdings, generating new investment ideas, and presenting his findings to a panel of over fifteen portfolio managers. Since joining Keating Investment Counselors, Inc. full time, Richard has continued to take on greater responsibilities in the day to day management of client portfolios. In addition, in 2011 he was awarded the Chartered Financial Analyst (CFA) designation, the definitive standard for measuring portfolio management and investment analysis competence and integrity.