Intelligent Investment Management

We started our firm in 1977, and are a family owned and operated business, completely independent and unaffiliated with any other company. Ron Muhlenkamp is our founder and portfolio manager, son Jeff is co-manager and investment analyst, and son Tony is president. With family members in place and 13 additional people in the firm, we combine a strong history with a vision for the future.  Read more about our Investment Team, Client Service Team, and the Administration Team to learn more about our people and our experience.

We are professional investment managers.  We are not accountants, auditors, brokers, custodians, financial planners, or tax experts.  We do not file tax returns, prepare legal documents, or churn out black box financial plans. We seek to maximize total returns, after taxes and inflation, to our clients by taking advantage of the opportunities provided when markets periodically misprice assets.

Our motto is “intelligent investment management” to emphasize that we remove the emotion from investing. We might also be described as “no BS” or “common sense” investment managers—you get the idea. Investing other peoples’ money is a rational profession and we apply ourselves to it on a continuous basis.

We invest money for people who want their money to work as hard for them as they had to work for it—and who want their money to grow over periods of time best measured in years and generations. Our clients and shareholders hire us to help protect what they have, help make it grow, and help ease their minds.

Our discipline is to buy good companies on sale, using the fundamental security analysis pioneered by Ben Graham. Ron’s paper, “Why the Market Went Down,” builds on Ben Graham’s work and describes how we value companies and determine the price to pay for them.

Our work is important because money should be used for capital, and capital is used to create the tools and conditions necessary for increasing wealth and prosperity from one generation to the next. This progression applies to families, to nations, and to the world. Helping our clients and shareholders increase their wealth and prosperity enables them to feed their families, educate their children, and help others.

It is vital to communicate with the people who hire us, so we publish a free quarterly newsletter and periodic market commentaries. We also conduct investment seminars and conference calls to inform you of what we are seeing and what we think is important. In addition, we have a dedicated client service team to answer questions and assist you with investment planning needs. We believe an informed investor is a more successful investor, and we welcome the chance to talk with you and answer any questions you have.

What We’re Seeing

A Stock Picker’s Market

Ron and Jeff Muhlenkamp presented A Stock Picker's Market at our semi-annual investment seminar on Tuesday, May 5, 2015...
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Quarterly Letter, April 2015

We’ll start with our views on the U.S. stock market, then briefly touch on some broader U.S. and ...
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Muhlenkamp Memorandum Issue #114

Read the Quarterly Letter by Ron and Jeff Muhlenkamp followed by the article, Portfolio Managers: Investment Outlook for 2015...
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Archive of February 19, 2015 Conference Call

An archive of the conference call with our portfolio managers, Ron and Jeff Muhlenkamp is available. They discuss the economy, the...
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Game Changers in Biomedical Science, November 2014

Advances in biomedical science continue to transform the way medicine is being practiced. Since the 1950s, we have experienced a steady...
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Announcements

Archive of May 5, 2015 Investment Seminar

A Stock Picker’s Market was presented by Ron and Jeff Muhlenkamp at our semi-annual investment seminar on Tuesday, May 5,...
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Archive of February 19, 2015 Conference Call

An archive of the conference call with our portfolio managers, Ron and Jeff Muhlenkamp is available.  They discuss the economy,...
More ›