"Go confidently in the direction of your dreams. Live the life you imagined." -Henry David Thoreau
Steven Hecht, A Registered Investment Advisor
Steven Hecht is the founder of Steven Hecht Investments, Inc and this website, LoneWolfCapital.com. Mr. Hecht began his career as an investment officer for a major New York City bank. It was here he learned the fundamentals of capital preservation, risk/reward measurement, the ability to see beyond the day's headlines, and most importantly the understanding that each client is a unique relationship. The bull market that began in 1982 fostered a burgeoning industry of mutual funds. The investing public was increasingly eager to participate in the economic wealth being created by a fast growing global marketplace. Mutual funds were aggressively marketed by large investment firms as a way to achieve diversification and have a "professional" manage your money.
Mr. Hecht spent much of the 1990's as head of research for an investment firm that focused on building wealth for individuals and families who were highly dissatisfied with Wall Street's herd mentality and short-term approach to investing. While the masses of investors were riding in a crowded subway car of mutual funds, Mr. Hecht believed that each client should have limousine service when it came to the investing of their money. By eschewing mutual funds, and having a contrarian philosophy to the mindless volatility created by large scale managers, who often had 300% a year turnover, Mr. Hecht saw the investment landscape dominated by large macroeconomic waves. These waves can last for many years if not whole decades and are the antithesis of Wall Street's style.
Despite the myriad of "the sky is falling" scares that pervaded the 1990's, investors who had the fortitude to stay invested in top tier technology stocks rode a macroeconomic wave that multiplied their capital many times over. When the technology era ended in 2000 with a severe purging of the excesses, a new macroeconomic cycle began. The old technology generals were dead and a new dawn beckoned that was driven by raw materials and commodities, and scarce natural resources. Oil, gas, copper, uranium, zinc, iron ore, coal etc. were now the anointed kings. Lone Wolf Capital sees this macroeconomic wave lasting for many more years, as three quarters of the earth's population seek to shed the chains of poverty and enjoy the comforts of middle class lifestyles.
Mr Hecht has spent over twenty years in the investment trenches building wealth and preserving capital. By being the tortoise and not the hare, his strategy is to stay far from the maddening crowd and see the world's economic growth from a different longer-term perspective. Major events, such as terrorism, corporate malfeasance, wars are like cascading waterfalls. Investors are roiled and cause incredible panics in the financial markets. Despite the frightening nature of the events, the financial markets have recovered and grown stronger. Astute investors who maintained their focus and disciplines were able to find great opportunities in these moments of darkness. While these events may have had severe short-term consequences, they greatly shrink in magnitude when put on a timeline of a client's longer-term horizon.
Life is an uncertain journey. Most people "play not to lose". At Steven Hecht Investments, Inc we "play to win". There is a world of difference. Come rain or come shine we are committed to working with each client to reach the financial goals they seek to achieve.