Hello, it’s Wednesday again. Lets talk about something different today. I’ve been pondering an idea I wanted to run by you all to see what you think.
Did you know that Minnesota is home to a substantial number of large businesses? It has about 18 companies in the fortune 500, but there are actually 50 some publicly traded companies that have annual revenue greater than $200M. That’s a nice selection of businesses to invest in.
We are toying with the idea of starting the “Minnesota's Best” Stock Strategy. It’s just an idea at this point, but we would run it as a separately managed acct for each client so that we could track performance. We would custom manage the selections right here in New Prague using our own proprietary methods of picking companies based on various financial metrics that we like to use. The idea would be $100,000 minimum investment, and then hold somewhere between 10 and 20 Minnesota based companies at any given time. You would recognize many of the names, and we would try to buy them when they are down.
Here are some of the names that can be invested in that have their US home base in Minnesota: United Healthcare, Polaris, Fastenal, Target, Hawkins, Donaldson, Ecolab, Sun Country, Best Buy, Medtronic, General Mills, Hormel, Xcel Energy and many others.
It's something I have thought about for some time and just never pulled the trigger, so now I’m wondering what all of you think about the idea. Your feedback would be appreciated.
Best Regards,
Mike
In the meantime, the S&P 500, which is the King Kong of all the indexes has yet to break above the downtrend line. Waiting patiently as we enter the 3rd qtr of 2022 tomorrow.
