What Makes Us Different

1. We do not believe in the "buy and hold" philosophy of Wall Street. Instead, we believe you should buy and hold what is helping you and sell what is not.

"Buy and hold" is an outdated rule of investing that was created in times of high, fixed rate commissions and tax rates as high as 90%. At that time it was so costly to sell that holding through declines made sense. Commission rates and taxes are low enough today that the cost of selling is no longer a key issue.

You are in the stock market because you want to make money. By definition, losing money does not make you money. We hold your winners and sell the losers and weaker holdings.

2. We do not subscribe to the asset allocation theories of Wall Street. Conceptually, this is a necessary component of the whole notion of buy and hold. If you are going to buy and hold, then you should hold a little of everything in the hope that at least some portion of your overall holdings is going up in value at any one time. That's the fundamental belief of asset allocation. The problem is that it also means that some parts of your portfolio at any given time are NOT helping you. So why hold them?

3. We do not believe that past market leadership implies future market leadership. In fact, we believe it is a rare phenomenon. We believe that leadership is dynamic, and that new companies are always out there ready to push the current leaders aside and take their place. We want to find and own those companies early in their ascent.

4. We do not believe that most losses are unavoidable. Quite the contrary. We believe that risk can be measured, evaluated, and in most cases can be avoided before severe damage occurs. Risk cannot be eliminated. Loss cannot be eliminated. But they can be managed and reduced.

5. We do not engage in style box investing. Most investment managers specialize in a particular style - large cap growth, small cap value, short term bonds, etc. We believe that some type of investment is always doing well, but what type investment that may be changes constantly. For that reason, we do not concentrate on one "style" of investing. Instead, we focus on the goal. We want to find and own the new leadership because that is where we believe wealth is created. We will invest in whatever type of bond or company that will help us achieve this objective and minimize our risk.

6. We manage every account individually. This is significant. Most firms use model portfolios, and every account looks nearly identical to one of the models. Although all our accounts are managed according to the same overall philosophy, no two accounts look alike. Each account is managed specifically for the owners of the account, keeping in mind their unique goals and risk tolerances.

CSA Wealth Management, LLC. 729 Country Place Road . Axton, VA 24054