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Private Capital Management
8889 Pelican Bay Boulevard, Suite 500
Naples, Florida 34108-7512
Phone: (800) 763-0337
Fax (239) 254-2557
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Manager Overview:
Private Capital Management ("PCM") has its headquarters in Naples, Florida. The firm was founded in 1986 by Bruce S. Sherman, who continues to be CEO and jointly manages all portfolios with President, Gregg J. Powers, who joined the firm in 1988. In August 2001, PCM became a wholly-owned subsidiary of Legg Mason, Inc. The foundation of PCM's performance is a comprehensive and highly disciplined investment strategy that capitalizes on its expertise in identifying a company's true intrinsic value through intensive, proprietary research.
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Bruce S. Sherman
Chief Executive Officer and Chief Investment Officer
B.S. University of Rhode Island
M.B.A. Bernard Baruch College |
Gregg J. Powers
President and Co-Portfolio Manager
B.S. University of Florida |
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Investment Philosophy:
PCM views a securities investment as a direct, proprietary ownership interest in the underlying business. The cornerstone of PCM's value-focused philosophy is a determination and analysis of a company's free cash flows. In executing this philosophy, PCM builds a portfolio consisting of companies that have been analyzed on a fundamental level, and determined, through interviews by a member of its research staff, to possess several basic elements, including significant free cash flows, a substantial resource base, and a management team with the experience and intelligence to correct problems that have been excessively or inappropriately discounted by the public markets. Ultimately, PCM seeks to find and to capture for its clients undiscovered value that is not yet recognized in a company's stock price.
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