Our research consistently demonstrates that the earnings growth premium - capturing higher realized growth versus forecasted growth - is one of the single most important forces driving returns. See more about our award winning services, as well as current and past projects we've engaged. Smith Asset Management Group believes companies that can sustainably grow earnings faster than expected will experience strong stock appreciation.
The team seeks to drive returns by utilizing a combination of quantitative and fundamental analysis. Our strategy is distinguished by utilizing a systematic, model-based framework that helps us research potential investments swiftly and methodically. Our investment process identifies companies with the potential for unexpected earnings growth, strong earnings quality and reasonable valuations.
The team seeks to drive returns by utilizing a combination of quantitative and fundamental analysis. Our strategy is distinguished by utilizing a systematic, model-based framework that helps us research potential investments swiftly and methodically. Our investment process identifies companies with the potential for unexpected earnings growth, strong earnings quality and reasonable valuations.
Services
Smith Group exists to provide high-quality investment management services to institutional and high-net-worth clients. As a specialist firm in an industry dominated by large asset management companies, our goal is to deliver both exceptional client service and superior risk-adjusted returns over a full market cycle.
Mr. Smith founded Smith Group Asset Management, a Dallas-based investment management organization, in 1995, and serves as the company's Chief Investment Officer. He began his career in the late 1960s as an engineer with NASA in the lunar landing program.
He joined Wachovia Bank as a computer systems analyst in the mid-1970s, and transitioned to the bank's investment management division in order to help design and implement a portfolio management system.Mr. Smith left Wachovia and joined what is now known as Bank of America in 1983. He held a number of senior investment positions at Bank of America until he departed in 1995 to found Smith Group.
He joined Wachovia Bank as a computer systems analyst in the mid-1970s, and transitioned to the bank's investment management division in order to help design and implement a portfolio management system.Mr. Smith left Wachovia and joined what is now known as Bank of America in 1983. He held a number of senior investment positions at Bank of America until he departed in 1995 to found Smith Group.
Smith Group originated in our founder Steve Smith's understanding that unexpected earnings growth can be a persistent source of excess investment returns. In the late 1970s, Steve participated in some of the earliest studies on unexpected earnings growth (then known merely as earning surprise), and his focus on the unexpected is the foundation and driving force for our approach to investing.
Before founding Smith Group in 1995, Steve Smith, CFA, discovered what would be the core of Smith Group while working for NASA. I spent the early part of my career working for NASA in the Lunar Landing Program. At NASA, I learned the importance of any team having a clearly established, well-understood, universally agreed upon goal for achieving a mission.
While many investors believe that stock prices follow absolute earnings growth, our research shows that stock prices follow unexpected growth in earnings. The phenomenon of unexpected earnings growth will persist even in markets where information is readily available and rapidly absorbed, and we will continue to find the unexpected based on the innate human tendency to delay recognition of change.
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