The Trustee Portfolio

Subscriber-only access to E.B.’s trustee portfolio as of the most recent publication.

Are you a trustee, or a gambler?

The job of a trustee is a lot like valet parking a Ferrari. It’s not your car. Taking it for a joyride is out of the question.

As a trustee, I’m responsible for assets belonging to other people. Those people don’t have the capacity to manage their assets.

I like the job. It gives me a good test when making investment decisions. I’m allowed to make mistakes, but I better have a decent explanation when questioned.

When you see an investment listed here note the entry date. That’s the last closing price before the recommendation. This letter hits your inbox at 9:00 AM New York time every other Thursday. You’ll have a full trading day to study the information before the trust buys the stock.

Same goes for sell recommendations. The trust takes action the following day regardless of market conditions.

We will not track dividends at this time. If a holding pays dividends, the trust will instruct its broker to reinvest all proceeds.

The portfolio may feel thin at times. It’s not always a good time to be heavily involved in the public markets. As things ebb and flow we’re looking for stocks we want to own, not trade.

Over time we’ll ideally own a collection of high-quality businesses set up for long-term stability. That’s my duty as trustee. I hope you’ll enjoy watching me fulfill it.