Site Network: Home |

The Power of YES

Investing in Science-Based Companies Yields Unique Advances and Returns



"While many workers look upon retirement as a time of leisure, Jim Fitzpatrick thought it presented an ideal opportunity to start his own investment firm. Fitzpatrick, 80, has a long, rich history of small-cap investment management. He served as a financial economist with Moody's and managed assets at top firms such as Citicorp, Smith Barney and The YMCA Retirement Fund. After retiring, Fitzpatrick founded Princeton Capital Management in 1988.



Princeton Capital provides investment management services for individual investors, trusts, endowment funds, foundations and retirement funds. The firm also provides Fitzpatrick an outlet for his passion and expertise: Finding young companies with both growth potential and scientific creativity. Ten years ago, Fitzpatrick started the Young Enterprise Shares (YES) Program to focus on such companies. "Investing in science-based enterprises creates unique advances," says Joe Self, a member of Fitzpatrick's management team.



Fitzpatrick also monitors sizes of markets and who the buyers are. "If your buyer is the government, purchasing is subject it to all the capriciousness of politics and it isn't always the best product that wins," he says. For this reason, Fitzpatrick tries to avoid military stocks unless they support civilian or daily life as well. He also isn't interested in a strong balance sheet. "If a company is small and growing, it should be relying on external financing -- it is definitional," he says. "If you have a strong balance sheet it is a testament to growing slowly. You can't find many strong, growing companies with strong balance sheets!"



Fitzpatrick looks to science and technology the way some managers use GDP and currency statistics. "Not many investors integrate the general and the scientific the way that we do. I turn to science for strategic clues," he says. "While nothing is foolproof, science provides guides that you can really count on."



...Microvision (MVIS) has a patented retinal scanning display technology which uses a small, wearable projector to cast moving images directly onto the wearer's retina. "It's the most mind-blowing technology of a tender company and Microvision is holding three wildcards that could be major," says Fitzpatrick."





Jim Fitzpatrick

===



Princeton Capital is the fifth largest institutional owner of Microvision, with a total of 404,950 shares as of 6/30/2004. During Q2 2004, Princeton Capital increased their Microvision stake by 238,200 shares, or 142.85%.

0 comments:

Post a Comment


This website does not recommend the purchase or sale of any stocks, options, bonds or any investment of any kind. This website does not provide investment advice. Disclaimer and Notices: Disclaimer: This website may contain "forward-looking" information including statements concerning the company's outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. The information on this website includes forward looking statements, including statements regarding projections of future operations, product applications, development and production, future benefits of contractual arrangements, growth in demand, as well as statements containing words like believe, estimate, expect, anticipate, target, plan, will, could, would, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the results implied or expressed in the forward looking statement. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements are included in MVIS most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission under the heading 'Risk factors related to the company's business,' and our other reports filed with the Comission from time to time. Except as expressly required by Federal securities laws, MVIS Blog undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events, changes in circumstances, or other reasons. Legal Notice: Although considerable care has been taken in preparing and maintaining the information and material contained on this website, MVIS Blog makes no representation nor gives any warranty as to the currency, completeness, accuracy or correctness of any of the elements contained herein. Facts and information contained in the website are believed to be accurate at the time of posting. However, information may be superseded by subsequent disclosure, and changes may be made at any time without prior notice. MVIS Blog shall not be responsible for, or liable in respect of, any damage, direct or indirect, or of any nature whatsoever, resulting from the use of the information contained herein. While the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. MVIS Blog has not independently verified the facts, assumptions, and estimates contained on this website. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, or completeness of the information and opinions contained on this website. Consequently, MVIS Blog assumes no liability for the accompanying information, which is being provided to you solely for evaluation and general information. This website does not contain inside information, proprietary or confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements or otherwise.