Crawford Insights

Amidst dramatic declines in the bond market, Crawford has maintained its longstanding bias to high quality. This coupled with a common sense approach to maturity management, adequate diversification, and prudent utilization of spread sectors to increase yield, has helped preserve capital in a very difficult environment. We believe successfully navigating market environments like the one we are cur...

Real estate investment trusts (REITs) are not traditional common stocks, but many of the companies in this area fit very well with our investment priorities and methodology. We feel the ability to invest in real estate while benefitting from the liquidity of the stock market is an attractive feature. In this episode, we discuss our strategy and cover the history, track record, and benefits of inve...

While we believe that the economy is not in a recession, it behooves us to be alert to the possibility of one developing in the near-to-intermediate future. In this episode, we consider possible causes and monitor signs of emerging recession. We will continue to keep you all updated as to what we see. *** Disclosures:  Crawford Investment Counsel Inc. (“Crawford”) is an independent investment advi...

In the early 2000s, we began to explore opportunities to expand the firm’s product suite while staying true to the core Dividend Integrity principle. Our team became intrigued by the possibility of applying the underlying principle to stocks at the lower end of the market capitalization spectrum. After performing extensive analyses and backtesting, we came to believe that the small cap area of the...

One of the pendulum shifts that we believe is occurring is that we are likely moving from a period of above-average investment returns from stocks and bonds to a more normalized or lower return environment. Over time, we see that investment returns tend to be somewhat cyclical, and more pedestrian results typically follow periods of robust stock market gains. When one compares returns over the pas...

It all began more than 25 years ago when two friends were discussing world affairs. The conversation eventually drifted to the investment arena as it normally did, since one was an avid collector of coins, antique rugs and other beautiful things, and one was a professional investor and founder of his own investment management firm. The collector, being of a keen mind and always one to propose some...

We have noted that 2022 has been a year of uncertainty. Investors have been forced to face changing conditions in both the capital markets and the underlying economy. We see that this uncertainty is yielding to some identifiable trends that are dominating investor preferences and permeating economic discussions. We feel the stock market volatility and downdraft reflect both an uncertain future and...

Most consumers will tell you that online shopping is on the rise. Today, many order consumable items like detergent, razor blades, and paper towels online, and a growing percentage do so with automatic replenishment. Ask the average U.S. consumer how many retail visits they make each week now versus a year or two ago, and the answer would be “not nearly as many.” But this is not simply due to the...

At Crawford, we have been talking more and more about uncertainty as current events have unfolded. The Fed is in play, Putin is in Ukraine, and inflation is running hotter than just about anyone expected. We do not know just how these events will play out, and their impact to the investment environment is still uncertain. In this episode we discuss how our portfolios have historically provided a s...

Anyone acquainted with the thinking at Crawford is well aware of our appreciation for common stocks. Considering all of their characteristics, we believe stocks are the asset of preference. Taking leave of normal investment language, let’s think for a moment about common stocks in unconventional terms. Let’s call them money machines. In this episode we take a closer look at the money machine and h...

There are few stocks that have been held for 41 years at Crawford. One is Johnson & Johnson (J&J). Over this time, we have not always agreed with every decision made by management but remain invested because the strength of J&J’s franchises have led to consistent growth in profits and dividends. Recently, J&J made a significant announcement of its intention to separate their consum...