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|Articles - Jan/Feb 2012|
|Thursday, January 19, 2012|
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The latest twist has Becker buying into more technology stocks such as Microsoft and Intel. On paper, the companies are trading at more modest prices, compared to their earnings, and they’re winning favor among traditionalists by paying quarterly dividends. But Pat Becker Jr. says less exacting metrics have also made him bullish: He’s noticed, for instance, that analysts are warming to the idea that Intel can compete in the smartphone market.
“If you’re talking to people on a regular basis, you can see when opinions change,” he says.
Becker remains a curious mix of a company at once entrepreneurial and old-fashioned. Within its conservative investment philosophy, it encourages staff to take risks that produce big returns for the company. But character also counts; bonuses are a mix of performance and “nebulous” things like teamwork and amiability around the office.
The family atmosphere extends from the literal to the figurative. While Pat Sr. still clocks in at 6:15 every morning and advises, Pat Jr. helps lead the company (Janeen McAninch is the CEO), his brother, John, runs the IT department and brother-in-law Blake Howells manages portfolios. The rest of the staff has been loyal to a person: Becker hasn’t lost an investment staff member since it started in 1976, though they have had some support staff turnover.)
It could be the old-school benefits that keep them close: The company shares profits up to 20% of an employee’s earnings in good years, and 15 of the 28 staff members own shares in the company. It also pays for things such as a dental plan for dependents, and parking passes.
But Pat Jr. argues there’s a unique temperament he searches out in new hires, which matches Becker’s approach to the market. “The wiring is so important,” he says. In a recent talk put on by Becker in Portland, renowned Wall Street strategist Jason Trennert named the ethos succinctly, saying, “When I think of Becker, I think of the F-word: fiduciary.”
The corporate world is now bending the elder Becker’s way, says Pat Jr. He sees boards behaving ethically and making fiscally sound moves in paying dividends and buying back stock. Still, there’s more to be done to restrain Wall Street from blowing more bubbles and to insulate against risks like flash crashes driven by computer-managed trading. He acknowledges that after this decade, the Occupy Portland protesters that camped out just a block from his office late last year had legitimate grievances.
“They’re right about a lot of stuff,” he says.
Rare honesty from a wealth manager, but then Becker is a rare breed.
Thursday, June 12, 2014
BY ANDREA DURBIN | OB GUEST BLOGGER
Last week, the Obama administration took an important and welcomed step in the effort to protect the health and well-being of all Oregonians by limiting carbon pollution from existing power plants.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Friday, June 06, 2014
BY KATIE AUSBURGER | OB GUEST CONTRIBUTOR
How to build a hipster-friendly work environment.
Thursday, May 29, 2014
BY SOPHIA BENNETT
Tillamook expands its tourism niche.
Friday, June 13, 2014
BY CLIFF HOCKLEY | OB GUEST BLOGGER
This article summarizes the key considerations a building owner must keep in mind when thinking about leasing to a medical marijuana dispensary.
Tuesday, July 01, 2014
BY HANNAH WALLACE | OB BLOGGER
Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
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