Overview |
|
| Wireless | |
| Performance |
Young Enterprise Shares investing focuses on young companies whose growth stems from scientific creativity. Selection of small companies is opportunity driven, as those opportunities are derived from the prospective earnings capabilities of innovative products and services. We attempt to value these potential earnings through intense analysis of:
- Product (or service) characteristics and advantages vis-à-vis
potential competition
- Intellectual property
- Micro and macro conditions that would affect company and product
- Creative management teams capable of building and executing a coherent
plan for revenue growth
We look for these small, scientifically-driven companies in such areas as:
- Information displays
- Broadcast technology and content management
- Internet technologies and services
- Wireless
- Speech recognition
Or, in areas that enable us to stave off or repair the ravages that time, the environment and our genes wreck on our bodies, such as
- Drugs
- Medical devices
- Diagnostics
- Healthcare services
as of September 30, 2007
| COMPANY
NAME |
PERCENT
OF PORTFOLIO ASSETS |
| AXT, Inc. |
11.11% |
| Digimarc Corp. |
7.27% |
| Microvision, Inc. |
7.10% |
| Universal Display Corp. |
6.66% |
| Nuance Communications, Inc. |
6.22% |
| Cree, Inc. |
4.71% |
| Martek Biosciences Corp. |
4.42% |
| SonoSite, Inc. |
4.16% |
| L-1 Identity Solutions, Inc. |
3.85% |
| BioLase Technology |
3.78%
|
Percentage of Overall YES Portfolio |
59.27% |
OUR METHOD OF INVESTING IN YOUNG COMPANIES
Long experience, insight into the small-cap market, and extensive company research contribute to our ability to perform well for our clients. We analyze the driving sources of an enterprise’s growth for their force and permanence. We look for young companies with the prospective ability to create wealth so that their share price trebles in three to five years. With a steady stream of ideas and information derived from our own research, and a well-established network of scientific advisors, we target the emerging companies most likely to fulfill their potential for rapid growth. With selection emphasis on early recognition of investment potential, we wait patiently for promising opportunities to gain attention from other investors. Equally as important in the small-cap market sector, we understand the inherent risks in companies that are often in the early stages of development. Investment candidates are determined by those that are selling at a substantial discount to our several-year-hence target price. Our approach emphasizes the predictability of growth in order to deliver attractive investment results with controlled risk.
YOUNG ENTERPRISE SHARES
RESEARCH AND PORTFOLIO MANAGEMENT TEAM
Mr. Alfred R. Berkeley, III: Analyst - Principal
Sector Expertise: Computers and Software
Education: BA - University of Virginia; MBA - The Wharton School, University
of Pennsylvania
Mr. James Fitzpatrick: Manager/Analyst - Principal
Sector Expertise: Technology and Telecommunications
Education: BA - The College of William & Mary
Mr. Joseph M. Self: Manager/Analyst - Principal
Sector Expertise: Pharmaceuticals and Healthcare
Education: BA - Duke University; MBA - Columbia University
