Bloomberg Businessweek remembers George Frazer’s calming words
In an article published online by Bloomberg Businessweek on Feb. 11, George Frazer’s calming words to clients are remembered.
As worldwide equity markets reeled from the US subprime mortgage crisis Frazer wrote a letter to clients on Oct. 1, 2008, that drew upon his experience to offer what he called ‘a voice of reason’ to counter fears of another Great Depression.
“Our investment philosophy is unwavering: growth in dividends provides growth in capital and incomes,” he wrote in the letter. “Our disciplined investment process is expressed by investing in core holdings that are solid companies in mature industries that make up the backbone of the economy and that provide an increasing stream of dividends. Our clients’ income from these dividends is not decreased by declining markets.”