×
×
homepage logo
STORE

SanCap Trust Company hosts program about Wall Street

By Staff | Dec 4, 2019

PHOTO PROVIDED Sanibel Captiva Trust Company Chief Operations Officer Craig Holston, new team member Ed Ciskowski and Director of Research Timothy Vick.

The Sanibel Captiva Trust Company held its opening event of the season last week entitled, “Ten Things Walls Street Won’t Tell You.” The program was presented by senior portfolio managers on the investment team – Director of Research Timothy Vick, Chief Operations Officer Craig Holston and new team member Ed Ciskowski – at The Sanctuary Golf Club to more than 80 guests.

Founder and Chairman Al Hanser opened the event by welcoming clients and guests back for the season and introducing two new additions to the Sanibel team. Jeff Muddell, previously of Lee Health, joined the wealth services team and Ciskowski, a portfolio manager with more than 30 years of experience in the financial industry.

The presenters covered observations about the Wall Street environment, such as incentives drive Wall Street and the products that investors are pitched.

“It’s all about sales and commissions,” Ciskowski said, “not whether or not the stock is a good choice for the investor.”

“Heavily touted, specialized products aren’t always that special – they’re just repackaged as a new fund, but don’t perform any better than the existing ones,” Holston said.

Vick spoke about the founding of the Dow Industrial Average in 1896 and explained why it does not represent the benchmark of best stocks in today’s world. He also expounded on why hedge funds and private equity investing have underperformed straight forward strategies for years.

They all agreed that following the 24-hour news cycle and politics is not a sound strategy for managing money.

“Financial stations are craving content to fill up 24-hours of programming with the primary goal of attracting advertisers and viewers,” Vick said.