Great Lakes Review, located in Cleveland, Ohio, and founded in 1981, became a division of Wellington Shields & Co. LLC in 2011.
Great Lakes Review is a research boutique focused on seeking out the highest-quality, medium-sized companies headquartered in the Midwest, regardless of industry, for the fundamentally-oriented investor. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies that meet certain specific criteria, as detailed below.
Great Lakes Review strives to ferret out early on, as soon as marketability permits, those investment opportunities that meet the following additional stringent criteria:
1. Specialty Niche.
a. Consistent growth in earnings year-after-year, regardless of external business conditions
b. A high rate of growth in earnings per share and sales well above that of inflation
c. An above-average return on sales relative to the industry in which it operates
d. A superior return on equity without resorting to excessive debt
2. Confidence in and personal rapport with Senior Management
3. Self-funding balance sheet.
4. Significant insider ownership.
5. Minimum number of institutional shareholders.
6. Constructive labor relations.
7. A reasonable price/earnings ratio, defined by the prevailing interest rate, in
relationship to the Company's projected three-to-five-year growth rate in earnings.
The Sell Discipline.
Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
Product & Service.
GLR's product and service is designed for institutional investors, and includes the following:
The Quarterly (which is thematic) accompanied by a Statistical Summary of our universe of approximately thirty companies
Individual company reports
Company-specific updates on timely events
A Weekly Update, often with a Stock Highlight of the Week
Elliott L. Schlang, is the Managing Partner of Great Lakes Review, a Cleveland-based proprietary research firm, specializing in medium-sized regional investment opportunities for institutional equity clients and a division of Wellington Shields. Previously, Mr. Schlang, a CFA, was EVP of Prescott, Ball & Turben and SVP at Kidder, Peabody. A graduate of Yale University and the Harvard Business School, he serves on the Boards of the Yale University Art Gallery, Cleveland Museum of Art, the Cleveland Institute of Music, the Investment Committee of the Harvard Business School of Cleveland, and Menorah Park, the largest nursing home in Ohio. Mr. Schlang was referred to as the “Prophet of Profit” in Corporate Cleveland magazine and as the “Genius of Cleveland” in the book, Dow 36,000. He was also acknowledged by Peter Lynch in “One Up on Wall Street,” the Institutional Investor magazine’s All-America Research Team and by The Wall Street Journal in its “Best on the Street.” A native of Cleveland, Ohio, Elliott is married and has three children and six grandchildren.
Jason A. Rodgers, Vice President, also researches and analyzes the approximately 30 companies in the Great Lakes Review Coverage Universe. Prior to joining GLR in 2003, Jason worked for RAV Financial Services, Inc. (now part of Sequoia Financial), a Cleveland-based financial planning and money management firm, in 1998. Jason earned his Bachelor’s degree in Business Administration from John Carroll University and holds the Chartered Financial Analyst designation. He is a member of the CFA Society of Cleveland. A native of Cleveland, Ohio, Jason is married and has two children.
Great Lakes Review Research
We have provided a few research samples below. Please note that this is dated material, therefore, estimates and recommendations may have changed since the reports were published. Click here to email us or call us at (216) 767-1340 for more recent publications or to request to be added to our distribution list.
9/20/2016 GLR Quarterly: "A Trump Portfolio"
2/3/2017 Weekly Update