To make the Forbes Honor Roll, Sarofim and Hawkins have had to construct a diversified portfolio that provides healthy after-tax performance over the long term, holds up reasonably well in down markets, and remains open to new investors.
You would think there would be a bunch of red faces, but the stock jockeys just take their ratings from buy to strong buy or from neutral to long- term hold.
With a public company, there are of course significant short term fluctuations in share price, but those investors that believe in a long term hold strategy should be comforted by this track record.
Mayfield said: "Our commitment to competitive pricing, excellent service, increasing pay and investing for the long term have held back profits.
This has resulted in nearly 50,000 wild horses and burros being held in short-term and long-term holding facilities, with costs associated with this program consuming 60percentt of the agency's entire budget.
The US owners' aim is to replicate the medium-to-long term holding of US sports franchises, making money on the value of the clubs increasing, from TV, sponsorships, ticket prices and supporter-consumerism.
Their tax savings, he said, will depend on what they paid for their shares, the size of the distribution and whether it is considered long term -- held for more than a year.
As a result, the US' long term securities held by foreign governments had surged from US$4466 billion in September 2011 to US$5961 billion in April 2014.
"The cliff is a Site of Special Scientific Interest, where it's felt by Natural England particularly, that the cliff should not in the long term be held," he said.
"It's a good long-term hold".
We think this is a core long-term holding.
