Gimbal Capital Management

Description

The inability of our government to function is a source of frustration for the citizens they purport to represent and jeopardizes the stature of our country, including the value of the US dollar and investments in our country. This represents considerable risk considering our reliance on foreign investment to fund our government spending. Medicare in its present form is not sustainable given our countries aging demographic and absent a combination of spending restraint and fiscal stimulus we are on a path similar to Japan, where aging demographics have had a stranglehold on the economy for over 20 years. Milton Freidman once said that the only thing more mobile than a wealthy individual is a wealthy individual’s money, therefore investment flows will provide us with insight as our economy evolves.

Mr. McAdams' resume includes extensive experience in the areas of finance, investments, business operations and management. This foundation of experience includes nine years of commercial banking at Old Kent Bank & Trust Company; four years of corporate finance at Top Line Packing Company, Inc., a Michigan based beef processor; five years executive management experience at Harding Energy, Inc., a Michigan based manufacturer of cylindrical nickel metal hydride batteries; and five years as manager of a Michigan based family office with collective assets under management of approximately $50mm.

Mr. McAdams started Gimbal Capital Management with the objective of combining this experience with his passion for research and analysis to provide investment management services to high net worth individuals. For the past eleven years Mr. McAdams has focused on managing balanced investment portfolios and building Gimbal into a company that will endure for many years to come.

We managed investment risk within neutral ranges during 2013 and market performance exceeded our expectations. It has become more difficult for us to find good values, particularly if we factor in the potential for higher interest rates. We continue to prefer stocks to bonds from a long term perspective, yet a correction in stock prices certainly would not surprise us and we would view this as constructive for the longer term if it is contained to 10% to 15%. Therefore we are entering 2014 cautiously and with a neutral bias. We hope that positive developments result in a more optimistic view as the year proceeds.

Pro-growth fiscal initiatives are needed to provide incentives to our business leaders to boost spending, investment and job growth. The federal government’s failure to acknowledge this and act has resulted in increasing pressure on the Fed to stimulate economic growth, which increases the probability of shock as low cost capital increases speculation.

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