Drop in Free Cash Flow Raises Concerns
Friday, August 12, 2022
The current situation is very uncertain. Our view is that the best approach is to stick with companies that are maintaining high levels of free cash flow while others are faltering. These companies should be able to continue to pay high and rising dividends, in our opinion. It may turn out that the recent drop in aggregate free cash flow is just a momentary phenomenon, but either way, we expect our portfolios to continue to generate good income for our clients.
Read the 2Q 2022 Quarterly Report: Drop in Free Cash Flow Raises Concerns ►
Gregory Powell, PhD, oversees the Portfolio Management Team. Greg is the designated lead or co-lead Portfolio Manager on the firm’s core strategies. In addition, he holds a position on Miller/Howard’s Executive Committee. Greg joined Miller/Howard in 2017 and served as a portfolio manager and Deputy Chief Investment Officer. He was promoted to CIO in 2020, after the retirement of founder Lowell Miller. Prior to joining MHI, Greg had a distinguished 19-year career as a portfolio manager and director of research at AllianceBernstein. At AB, he managed a team of 12 analysts and a suite of products with $11 billion in AUM. He also served as head of fundamental value research there, redesigning the analyst role with an emphasis on investment success and training analysts in all aspects of the position. He holds a BA in Economics/Mathematics from the University of California Santa Barbara, and a PhD and MA in Economics from Northwestern University.