ABL asset allocation utilizes a proactive, more tactical approach to capitalize on overvalued & undervalued segments of the global markets. Typically a range of percentage allocation is coordinated based on goals, objectives, and risk tolerance. The portfolio is then adjusted based on taking advantage of overvalued areas by profit taking and redeploying assets into lower risk, undervalued areas for the long term.


Investment Philosophy of Alan B. Lancz & Associates, Inc. is simply one of matching individual goals with return objectives and we have several means of implementing this philosophy and strategy. Each is designed to accomplish specific objectives while keeping with our basic investment philosophy. Briefly, our investment philosophy may be summed up in the following positions and guidelines, all which impact our investment decisions here at ABL:

Flexible Approach – We never seek to identify with a single, rigid process or formula for investing or managing capital. The investment marketplace is constantly changing and, therefore, requires our flexibility.

Discipline to Take Profits – Timing is again key to our investment strategies. No one can predict equity markets, economic conditions or interest rate futures. Instead, we attempt to evaluate all present elements of risk, then time the implementation of the investment, and later, take profits. This strategy has been critical in our long term success as profit taking not only realizes gains but also reduces risk as valuations rise.

Thorough Independent Research – Research is key to our investment selection and management process. We acquire and evaluate information on an intense and continuous basis. Our independent research is obtained through LanczGlobal, LLC – http://www.LanczGlobal.com.

Continuous Focus – Our aim is always for long-term results. This is achieved by consistently meeting and regularly evaluating predetermined objectives, over a continuous period of years.

Defensive positioning – We do not mind being out of the market at appropriate times. Nor do we mind fixed income, cash positions or other investments at similar times. We will alter our position to fully participate when the situation calls for it – and, upon request, we will selectively use short strategies should certain investments become severely overvalued.

Investment Discipline

Full Disclosure Combined With Low Costs

ABL was one of the first investment managers in the country to fully disclose personal retirement and corporate holdings to its investors. In the further pursuit of our “client first” philosophy, we have kept our trading costs and fee structures among the most competitive in the industry. We use a variety of top rated custodians to custody your trust, retirement, or personal assets. 

Selective Timing of Each Sale
When, in our judgment, an investment has risen to or above its potential, we likewise eliminate it from our portfolio – even though it may go higher. Our reasoning is straightforward: as a stock rises in value, we continually re-assess its risk-to-reward ratio, and eliminate the position when it becomes no longer favorable. In the case of special situations or corporate event investments, we eliminate the investment from our holdings when the event has taken place or the situation no longer exists. 

Avoid The “Favored” Issues
We tend to stay away from the “favored” issues or industries. This also is the contrarian view. At ABL, we are seeking long-term capital appreciation rather than the fickle variance of current return. Following the herd, by investing in highly favored issues, results in mediocre performance and increased risk. Most investors have already purchased and, expecting good news, have driven the stock to its upper limits. Favored issues often become a standard case of too little, too late.

At ABL, we steadfastly adhere to three disciplines that comprise this concept:

  1. The patience to seek out long-term asset growth
  2. The resolve to avoid the “hot” technical chart
  3. The courage to take a loss

With these disciplines in place, we can more closely – and safely – meet the investment objectives of our clientele. The end result is a customized approach to innovative investment solutions, full disclosure, comprehensive reporting and the reassuring peace of mind that comes from long-term investment results.

Investment Selection

Comprehensive, independent and objective research is the key to our investment selection process. Our research can be broken down into two main categories:

ABL maintains long-term relationships with some of the best informed and brightest minds in the financial arena. It started in the 1980’s with our good fortune in establishing a rewarding friendship with legendary investor, Sir John Templeton. Some of these exclusive information channels have become keys to our successful proprietary research and management record.

The investment selection process described here blends the psychological aspects of investing with an underlying fundamental basis of analysis. While virtually every sophisticated investor has access to similar statistics, trends and forecasts, we stress an additional yardstick of performance: the “quality” of corporate management. We believe that this personal evaluation of a company’s decision makers distinguishes solid investment opportunities from the merely ordinary.

We also look for alternative or special situation investment opportunities. This may be an acquisition, change in earnings, change in corporate structure, divestiture of an unprofitable division, consolidation of divisions, tender offer for its own stock – or any of hundreds of other happenings. We are on the lookout for companies with unusual earnings and asset growth, significantly higher than Wall Street generally anticipates, whose market prices do not yet reflect these changes.

Unconventional Concepts

Over the past three decades, Alan B. Lancz & Associates, Inc. has been innovative in creating and implementing growth and investment concepts for our clients. These have been the results of incorporating their individual needs with our customized solutions.

Custom Designed Portfolio Management

Our accounts range from guaranteed to long term growth – with nearly every combination of these, and more, in between. As a result, we have established the practice of customizing each account to the client’s individual needs and objectives. There is no pooling of assets. No carbon-copy asset allocation programs or model portfolios geared for the masses.

Fully Disclosed Fee Based Compensation – Transparency 

From our start, we have served our clients exclusively on a fee-based compensation basis. There are no soft-dollar compensation programs with other advisors, brokers or equity distributors. There are no hidden fees, charges or other compensation programs whatsoever. This assures maximum investment objectivity, and helps avoid potential conflicts of interest and pitfalls associated with so many of these other arrangements.

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