Crawford Insights Crawford Investment Counsel

Over our 42-year history, we have found that the most attractive investment opportunities are available in high-quality companies that succeed in investing for sustainable financial increase, while also returning substantial capital to shareholders through a steady and growing dividend. At Crawford, we prefer to invest in companies that generate higher levels of cash flow, maintain strong balance sheets, and possess established track records of high dividend payouts. We believe this balance amongst our portfolio constituents leads to a very high-quality mix of stocks that can provide attractive returns over a full economic and market cycle.
In this episode, we sit down with Jon Christiansen, CFA, a member of our Equity Research Team, to discuss why we do not believe growth and return of capital are mutually exclusive. In addition to being available on our website, we are pleased to announce that our podcasts are available on Spotify, Apple Music, or wherever you get your podcasts.

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Disclosures:

According to Fidelity Investments and Morningstar (As of 12/31/2020), dividends have accounted for roughly 40% of the total return of US stocks since 1930.
Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-110

It is difficult to overstate the importance of downside protection for any long-term investment program. Investing in dividend-paying stocks, especially those that maintain and raise their dividends consistently, is an excellent way to satisfy this objective. Dividends provide income, and as dividends grow, they can force the price of a stock upward while protecting capital on the downside. In fact, dividend-paying stocks have historically declined less when the market goes down.
In this episode, we sit down with John Crawford, III, the firm’s Founder and Chairman to discuss Why Dividends Matter. In addition to being available on our website, we are pleased to announce that our podcasts are now available on Spotify, Apple Music, or wherever you get your podcasts.

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Disclosures:

According to Fidelity Investments and Morningstar (As of 12/31/2020), dividends have accounted for roughly 40% of the total return of US stocks since 1930.
Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-104

Given the current environment, we believe now is a particularly good time to revisit and reemphasize our commitment to the concept of Dividend Integrity. Given all that is going on in the economy, markets, and banking sector, most agree it is a good time to focus on businesses that demonstrate an unusual amount of consistency and predictability. We believe companies that exhibit Dividend Integrity are better equipped to withstand macroeconomic headwinds, maintain earnings, and sustain and raise dividends over time. 

In this episode, we sit down with John Crawford, IV, CFA®, the firm’s Managing Director of Equity Investments to discuss this core tenet of the firm’s investment philosophy.

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Disclosures:

Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-100

At Crawford Investment Counsel, our stock selection process is focused on identifying high-quality businesses with conservative financial profiles. Our bank holdings are no exception, as we view the group through a lens that screens for diversified deposit sources, cautious approach to credit risk, and proven management, among other quality characteristics. We will continue to evaluate our bank holdings on an individual basis with a keen eye on managing the overall risk. But for now, we are content with our current holdings, none of which we view as impaired – either operationally or with respect to dividend income.
In this episode, we sit down with Boris Kuzmin, CFA®, our Financials analyst, to discuss recent developments in the banking sector. In addition to being available on our website, we are pleased to announce that our podcasts are now available on Spotify, Apple Music, or wherever you get your podcasts.

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Disclosures: 

Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-058

The Crawford Managed Income strategy was born in an effort to solve a personal, real-world problem. As a result, it fills a unique gap in the asset allocation landscape today. It is an objectives-based strategy that has consistently provided a yield of over 5% since its inception, while accepting lower credit risk, lower market risk, lower energy risk, and lower price risk than its benchmark, the Nasdaq U.S. Multi-Asset Diversified Income Index. The ability of the strategy to produce a high level of current income and generate positive alpha can be attributed to its security selection and asset allocation processes, both of which are highly opportunistic.
In this episode, we sit down with Aaron Foresman, CFA®, the Managed Income strategy’s architect and portfolio manager to discuss the strategy’s inception and evolution. In addition to being available on our website, we are pleased to announce that our podcasts are now available on Spotify, Apple Music, or wherever you get your podcasts.

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Disclosures:

Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-050

Throughout 2022, the themes of Uncertainty and Pendulum Shifts were present in many of our communications. As we move forward into 2023, Watching and Waiting seems an apt description of the posture of investors and where we find ourselves today. That is, we are watching developments in the underlying economy, monitoring corporate earnings reports and commentary, and keeping a close eye on company fundamentals. This is all occurring while we await a decline in inflation and determine the ultimate outcome of the Federal Reserve’s more restrictive interest rate policy.
In this episode, we discuss our investment approach in the current market environment. In addition to being available on our website, we are pleased to announce that our podcasts are now available on Spotify, Apple Music, or wherever you get your podcasts.

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Disclosures: 

Crawford Investment Counsel Inc. (“Crawford”) is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Crawford including our investment strategies and objectives can be found in our ADV Part 2, which is available upon request.
This material is distributed for informational purposes only. The opinions expressed are those of Crawford. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. There is no guarantee of the future performance of any Crawford investment strategy. Material presented has been derived from sources considered to be accurate and reliable, but makes no representation thereof and accepts no liability or any loss arising from use or reliance herein. Nothing herein should be construed as a solicitation, recommendation or an offer to buy, sell or hold any securities, other investments or to adopt any investment strategy.
CRA-23-039