David R. Van Duyn President
David is the firm’s principal investment officer. For eight years prior to joining Patriot Mullare, David was with Fidelity Investments as Anti-Money Laundering Director, Investors Bank & Trust Company as Associate General Counsel, and Putnam Investments as Counsel. David is a graduate of the University of Southern California, with an A.B. in Economics in 1994, Phi Beta Kappa, Cum Laude, and from New England School of Law with a J.D. in 1997.
Meet Patriot Mullare
Founded in 1986, Patriot Mullare Associates, Inc. is an independent, fee-only Registered Investment Advisor. As a firm, we are committed to offering independent, objective money management services and providing complete transparency to our clients in the management of their assets. Patriot Mullare has a diversified clientele which includes foundations, endowments, corporations as well as individuals and their families.
Our Investment Philosophy
At Patriot Mullare, we believe that the key to a successful long-term investment strategy is to study an individual company’s business prospects within the context of its industry and the overall economy. The basis of our investment philosophy is fundamental security analysis, or “value investing.” As a value manager, Patriot Mullare seeks common stock investment in companies of good quality at prices substantially below our estimate of their real worth. Patriot Mullare’s goal is to purchase securities of high quality when they are trading at attractive prices, with the expectation that they will be sound long-term investments. Our process for estimating real value relies on our substantial research skills. Patriot Mullare devotes virtually all of its resources to research. We have extensive knowledge of valuation techniques; however, use of such models is the exception to the rule. In most cases, we prefer a pragmatic approach in which we apply an appropriate price-earnings ratio to our estimate of future earnings. Our review and analysis of a corporation’s financial statements provide the information needed to assess a corporation’s profitability, financial strength, and operating efficiency. Patriot Mullare uses many methods of evaluation and research to determine the financial viability of a company, including the examination and comparison of present and past financial statements and determination of how the resulting financial ratios relate to the company's competitors.
Equity Security Selection
When selecting equity securities, Patriot Mullare concentrates on companies that appear to be undervalued relative to their growth prospects, the overall market, and/or their respective industries. Demonstrate financial strength based on numerous financial ratios. Through careful research, Patriot Mullare evaluates a company’s financial strength, growth potential, and value characteristics. Patriot Mullare uses the relative value of a company’s stock when compared to the historical valuation of the company, the historical and/or current valuation of a peer group of companies, or common stocks in general.
Fixed-Income Security Selection
When selecting fixed-income securities, Patriot Mullare concentrates on issuers whose obligations are rated “investment grade” by one of the independent rating agencies. This includes corporate and United States Treasury bonds. Patriot Mullare generally selects debt securities with final maturities (or call dates) that are generally no longer than ten years from the date of purchase. Patriot Mullare’s experience indicates that an average maturity of approximately seven years has offered an optimal combination of low risk and reasonable return in recent decades.
Client-Centric Portfolio Management
Each client portfolio is tailored to meet the objectives of each client based on information that the client has provided to the firm. The first step in working with clients is to gather information that will help clients define realistic investment goals, determine income needs, and provide an understanding of acceptable levels of investment risk and loss they are willing or able to assume. Clients can direct or restrict investments in particular industries or organizations. Most of Patriot Mullare’s client relationships span decades. We value our relationship with each client and are available to provide personal and consistent support and assistance at any time.