Ex-Magician Turns Skills to Stocks

Posted December 27, 2007 by admin. tags:Tags: , ,
Deseret News Logo

 

Written by:  Jacob Hancock, Deseret News staff writer

PROVO — Dave Young hasn’t pulled a coin from thin air or yanked a rabbit out of his hat since quitting his full-stage magic show decades ago. Today, 160 wealthy clients trust Young to produce higher yields — work his magic, if you will — on their stock-market nest eggs.

Young, an ex-magician who founded Paragon Wealth Management in 1992, has managed to boost his company’s two main stock-market portfolios to chart-topping heights. His Top Flight Portfolio has churned out a return of 457 percent during its nine-year history, dwarfing the nation’s much-revered Standard & Poor’s 500, which accumulated a scrawny 86 percent return in the same time period.

Paragon’s Top Flight portfolio is racking up a 19 percent compound yearly return, while the S&P 500 has landed around the 7 percent annual mark. Even Young’s most conservative, low-risk portfolio, Managed Income, is beating its benchmark, the Lehman Bond Index by nearly double in its total compounded annual returns since its inception in 2001.

For the past 10 years, the former magician’s calculations have kept him in the nation’s top 1 percent of investment managers. The 51-year-old Provo resident guards his secrets like a clam guards a pearl, but he nearly comes undone in his struggle to explain his recipe for stock-market success.

“It’s like this,” he says emphatically, holding one arm diagonally. “You buy (stocks) here; get rid of it when it starts to curve here. Keep your eye on this area, though,” he said, pointing somewhere near his wrist. “It’ll get you if you don’t.”

When Young sits down to actually forecast the future of fickle stocks fastened to a feral market, he uses slightly more sophisticated models than his appendages. But “basically,” he said with a sigh of finality, “watch your curves; they’re your indicators.”

His oldest daughter, Shannon Golladay, 27, said his financial advice can be boiled down to the spend-less-than-you-earn tenet, but she is quick to mention that her dad is worth more than the cold financial figures he cultivates daily.

“He’s a real humble guy who’s done a lot of amazing things,” she said. “He won’t tell you this, but he’s raised hundreds of thousands for scholarships, given money to friends and family, and this year the company is giving money to help a (local) boy get brain surgery.”

Golladay, who works in her dad’s plush office, also said her father supports an orphanage in Uganda, Africa.

When later approached about the Uganda project, Young squirmed in embarrassment. “The thing is, money just goes so far there,” he said. “For about the price of a house here, you can make a huge difference there.”

Magician work

Before conquering the world of Wall Street and years before supporting charity endeavors, the then-27-year-old magician struggled with lining up his priorities.

The moment his child was born, working with his female assistants on a stage of smoke and mirrors slid quickly down his list of priorities. When she turned 1, his magic tours disappeared.

Once, after a two-month road trip, Young slipped home one evening in 1981 just in time for his year-old daughter’s first birthday party. Instead of his daughter welcoming him with a hug, she stared coldly at “the stranger.”

“My daughter didn’t even know who I was when I came back,” Young said, looking at his office floor with a faint squint.

He shook his head. “She wouldn’t even come to me.”

He quit touring full time immediately and went to work building auto-painting and interior-design franchises in a variety of states. One of his businesses in Reno, Nev., ran so inefficiently, he said, that he could “hear a great big cash-sucking sound every time I thought about it.”

Eventually, he turned the money pit into a cash cow, sold it, played golf and hung out for a full year. “I made a decent chunk of money selling the centers,” he said.

He turned to the stock market but wasn’t impressed with portfolio managers who passively “rode out the lows” between market upswings. He joined the market anyway but managed his own portfolio manually, calculating stock averages on his 1980s computer.

A few of his younger friends hopped aboard, but it was their parents who made up the majority of his small, grassroots investment group. Friday morning, Oct. 16, 1987, Young and his clique of investors were fully invested. By that afternoon, Young completely cashed out of every stock of his investors because of a tiny but ominous-looking prospect he discovered in his finely tuned calculations.

He forgot about it and took off for a brisk October hunt.

Stock-market strategies

His suspected prophecy of doom turned reality 60 hours later on Oct. 19 when the stock plunged to such a devastating low that the day was dubbed Black Monday.

“I got back and saw that my answering machine was just completely loaded with frantic messages,” he said. “Oh, they were upset, saying things like, ‘That’s my whole retirement!’ and, ‘What am I going to do?”‘

Young’s cash-out decision spared their portfolios from a 22 percent nose dive and boosted his image to attract more serious and affluent clients.

Today, with a $200,000 minimum investment rule and an average account size of $600,000 for his 160 clients, he delicately baby-sits about $100 million regularly and advises outside entities on an additional $200 million.

He tends the money from a sort of master control. He’ll casually tell you it’s just a desk. He doesn’t see the eccentricity of surrounding himself with a system of three wide-screen monitors iridescently gleaming with real-time moving graphs of the national and international markets, no doubt triggering sirens at the slightest downturn.

“It’s like a game of chess,” he said. “OK, like a challenging game of chess,” he corrected.

He doesn’t mind a challenge; he traveled halfway around the world to find new ones.

“Now, hunting a leopard, that’s tough,” said Young, an avid big-game hunter who has hunted leopards in Zimbabwe. “They’re like a mountain lion on steroids.” Shooting the leopard, he said, “was one trick I won’t forget.”

And that’s saying something for a fellow who’s been pulling off tricks since he, as a 12-year-old, received his first magic kit in the mail from a Trix cereal promotion. Since then, he’s yanked rabbits out of his hat, launched and sold profitable businesses, defeated the stock market and raised five children with his wife. And, he says, “it just keeps getting better.”

http://deseretnews.com/article/1,5143,695237477,00.html

Market Forecasting: Investors Beware continued

Posted December 26, 2007 by admin. tags:Tags: , , , , , , , ,
Grumpy old man

Written by:  Dave Young, President

Market professionals are not alone in their inability to forecast market behavior. Economists do just as poorly. Every six months the Wall Street Journal prints the results of a survey of leading economists who predict the level and direction of interest rates for the coming six months. 55 high profile economists currently participate in this semiannual forecast. You’d think such prestigious economists in such a high profile newspaper would know what they’re talking about , right? Nope.

The record shows that from 1982 through the beginning of 2003 (43 periods), 71% of the time the consensus of economists could not even forecast the direction of rates, either up or down, for six months forward. If they’d just blindly guessed they’d have a 50/50 chance, but their actual educated predictions turn out to be much worse. And these are the best the industry has to offer!

So if forecasts are a waste of time then what does work? After 20 years of managing money, I am convinced that investors will only succeed when they are able to remove emotion from the investment process. Gut feelings are not a reliable investment strategy-even the gut feelings of so-called experts.

Oftentimes, successful investing requires you to act in a way that is contrary to what you “feel” is right. For example, several of our models measure the overall optimism or pessimism in the investing public. When optimism is high we know that there’s a lot of risk in the market and it’s likely that the market will decline. Likewise, when optimism is low and most investors think that things are really bad, that is usually a great time to invest. This pattern has repeated itself for years.

We take great care to ensure that all of our investment decisions are based on solid, proven models, not hunches. Our portfolio allocation models tell us how much we should be invested based on measured risk in the market. We run the models daily to determine the most effective percentages of investments and cash holdings.

Once we’re in the market, our portfolio focus models tell us where we should be invested. We constantly track all areas of the equity markets on both a macro scale (small cap, mild cap, large cap, value, growth, international and emerging markets) and a micro scale (individual industries, sectors and countries).

The bottom line for Paragon Wealth Management’s clients is that they can be confident that their portfolio isn’t being managed by some celebrity market fortuneteller. Our quantitative models enable us to impartially measure what is actually happening in the market and how much risk there is at any point in time. We constantly evaluate the models to determine how effectively they are working. In my opinion, this is one of the best ways to invest for long term success.

Click here to read the first half of the article.

To learn more about Paragon Wealth Management, visit www.paragonwealth.com or call 801-375-2500.

Copyright 2007 Paragon Wealth Management

How to Survive a Jittery Market

Posted December 20, 2007 by paragon. tags:
The Salt Lake Tribune Building

Dec 20, 2007

By Tribune Staff and Wire Services.

Wall Street struggled to steady itself Tuesday, with the Dow climbing back from a 465-point plunge to a loss of 128.11 after the Fed announced an unprecedented interest-rate cut. Many worried investors are expected to switch from equities into bonds or cash, but experts warn against such panic moves.

How do I avoid panicking?

“Short-term traders might have reason to panic. People who have a long-term perspective know markets go through cycles. They can see periods like today more as opportunities to add to their long-term positions in stocks. But it’s hard not to be afraid when the markets are so volatile.” – Sterling Jenson, Wells Fargo Capital Management

“Markets go up and down. Keep in mind that emotion is a big part of financial markets. Sometimes you have to swallow and sit tight.” – Jeff Thredgold, Zions Bancorp

“The best way is to have a strategy in place. The way the markets work, this is guaranteed to happen again. The essence is don’t get sucked into acting on the emotion of the moment.” – David Young, Paragon Wealth Management

How concerned should I be about the stocks-based portfolio in my 401(k)?

”There always should be a healthy level of acknowledgement of the risk when you are involved in stocks. But I think people in their 401(k)s should remember that over the long term stocks do provide the best return, as long as they continue adding money and dollar-cost averaging.” – Jenson

”We do this every 10 years. We did it with the crash of 1987. We did it with the Asian financial crisis of 1997. Ten years from now we’ll do it again. Investing in 401(k)s is by definition long-term investing. We may go lower for a while, but I think a year from now we’ll talk about stocks that are higher.” – Thredgold

”If you’ve got a short time frame, less than three years, you probably should be concerned because you need the money in the near future to live on. But if you have a longer time frame, then I don’t think you should be concerned at all because over three to five years things work out.” – Young

Can the country spend its way out of this downturn, as the economic stimulus packages proposed by President Bush and others would suggest?

”I think [the Fed’s] rate cut will be far more stimulative than the spending package in restoring confidence and helping us to avert a recession.” – Jenson

”We will get some kind of stimulus. Given what the Fed did today, it’s probably going to be larger than $150 billion. Even at $150 billion, it’s just 1 percent of Gross Domestic Product. It can provide some temporary boost in the economy [but] excesses that have built up over the last five years, you don’t solve in three or four months.” – Thredgold

What are the safest investment havens, short term and long term?

”If you want to be truly safe, you are going to be in short-term U.S. treasuries. Or you are going to be in bank CDs that are insured or in money market funds where you have a guaranteed principal value. Long term, if you are into stocks or real estate, you are always subject to principal fluctuation, so there really are no long-term safe havens.” – Jenson

”Short term would be any FDIC-insured bank deposit. Long term requires a two-year Treasury note. Bank CDs. If you can find something in the 3 percent to 4.5 percent range over the next two or three years, that would look pretty good.” – Thredgold

”The safest short term are 90-day Treasury bills. As far as long term, I’m not sure there is such a thing.” – Young

Is there any way to know whether this contraction in the economy will be mild and short or deep and long?

”At this point it’s anybody’s guess. Most economists are putting a 50-50 percent probability that we are going into a recession that could last over the course of the next year. Our best guess is that we will not go into a recession at this point. We could have a quarter or two of muted economic growth, but then we see strengthening of the economy going into 2009.” – Jenson

”There is not. It’s kind of a crap shoot right now.” – Thredgold

”There is probably no way to know. My guess is that it’s short. So far this recession is basically something that we’ve talked ourselves into at this point. The economic numbers don’t justify a recession.” – Young

Market Forecasting: Investors Beware

Posted December 20, 2007 by admin. tags:Tags: , , , , , , , ,
Grumpy old man

 

Written by:  Dave Young, President

Clients who have been with us for years know we aren’t big fans of market forecasts, whether they are made by us or anyone else. Let me tell you why I believe so strongly.

There’s no shortage of self-proclaimed market prophets. You can find them in the investment magazines, newspapers or CNBC. Although they can be entertaining, they provide no real investment value. They do not help anyone make money. In fact, investors who follow them are more likely to lose money than to gain it.

The way the forecasting game works is that the market guru, seer, pundit or executive continually makes forecasts in an attempt to gain public attention. By sheer luck maybe half of these predictions are proven right-meaning that at least half of them are wrong. On the occasions when the forecast turns out to be correct, the forecaster plays it up. Those many forecasts that don’t pan out (and those many investors who are financially hurt by them) are never spoken of again. In truth, you’re much more likely to get an accurate prediction of the future by listening to the weather forecasters. At least they inflict less damage when they’re wrong.

Ned Davis Research and InvestTech recently collaborated to analyze the forecasts of some of the most highly paid and highly regarded market forecasters in the financial industry. This is a small sampling of the findings:

* Out of the 22 high profile panelists on Louis Rukeyser’s Wall Street program for 2001, none predicted the market to close as low as it did that year.

* Out of the 22 high profile panelists on the same program for 2002, none expected the low close at the end of that year either.

* In 2000, at the prestigious Barron’s Roundtable, one of the 11 Wall Street strategists had a forecast that was close to being accurate.

* At the 2001 Barron’s Roundtable, two of the 12 forecasters were close to the actual market year end close.

* In 2002, two of the 11 Barron’s Roundtable participants were close.

* In the 2000 issue of Business Week, 52 of the 55 experts (95%) who forecast the year-end level of the S&P 500 were wrong.

* At the beginning of 2002, Business Week again held their survey of “the smartest players on Wall Street.” The consensus forecast of the 54 participants for the S&P 500 was 1292. The actual close was 32% lower at 880. Not a single esteemed participant came close to the actual close.

These findings may seem shocking to someone encountering them for the first time, but they are far from atypical. This is just a small snapshot of how bad the market forecasting business really is. Yet despite mountains of data that show how ineffective the celebrity market forecasters are, they continue to make their predictions and many unfortunate people continue to base their financial decisions on shoddy, unproven advice.

To be continued next week…

Continue reading “Market Forecasting: Investors Beware” »

Ex-Magician Turns Skills to Stocks

Posted December 20, 2007 by paragon. tags:
Deseret News Article

December 20, 2007

By Deseret News

PROVO – Dave Young hasn’t pulled a coin from thin air or yanked a rabbit out of his hat since quitting his full-stage magic show decades ago. Today, 160 wealthy clients trust Young to produce higher yields — work his magic, if you will — on their stock-market nest eggs.

Young, an ex-magician who founded Paragon Wealth Management in 1986, has managed to boost his company’s two main stock-market portfolios to chart-topping heights. His Top Flight Portfolio has churned out a return of 457 percent during its nine-year history, dwarfing the nation’s much-revered Standard & Poor’s 500, which accumulated a scrawny 86 percent return in the same time period.

Paragon’s Top Flight portfolio is racking up a 19 percent compound yearly return, while the S&P 500 has landed around the 7 percent annual mark. Even Young’s most conservative, low-risk portfolio, Managed Income, is beating its benchmark, the Lehman Bond Index by nearly double in its total compounded annual returns since its inception in 2001.

For the past 10 years, the former magician’s calculations have kept him in the nation’s top 1 percent of investment managers. The 51-year-old Provo resident guards his secrets like a clam guards a pearl, but he nearly comes undone in his struggle to explain his recipe for stock-market success.

“It’s like this,” he says emphatically, holding one arm diagonally. “You buy (stocks) here; get rid of it when it starts to curve here. Keep your eye on this area, though,” he said, pointing somewhere near his wrist. “It’ll get you if you don’t.”

When Young sits down to actually forecast the future of fickle stocks fastened to a feral market, he uses slightly more sophisticated models than his appendages. But “basically,” he said with a sigh of finality, “watch your curves; they’re your indicators.”

His oldest daughter, Shannon Golladay, 27, said his financial advice can be boiled down to the spend-less-than-you-earn tenet, but she is quick to mention that her dad is worth more than the cold financial figures he cultivates daily.

“He’s a real humble guy who’s done a lot of amazing things,” she said. “He won’t tell you this, but he’s raised hundreds of thousands for scholarships, given money to friends and family, and this year the company is giving money to help a (local) boy get brain surgery.”

Golladay, who works in her dad’s plush office, also said her father supports an orphanage in Uganda, Africa.

When later approached about the Uganda project, Young squirmed in embarrassment. “The thing is, money just goes so far there,” he said. “For about the price of a house here, you can make a huge difference there.”

Magician work

Before conquering the world of Wall Street and years before supporting charity endeavors, the then-27-year-old magician struggled with lining up his priorities.

The moment his child was born, working with his female assistants on a stage of smoke and mirrors slid quickly down his list of priorities. When she turned 1, his magic tours disappeared.

Once, after a two-month road trip, Young slipped home one evening in 1981 just in time for his year-old daughter’s first birthday party. Instead of his daughter welcoming him with a hug, she stared coldly at “the stranger.”

“My daughter didn’t even know who I was when I came back,” Young said, looking at his office floor with a faint squint.

He shook his head. “She wouldn’t even come to me.”

He quit touring full time immediately and went to work building auto-painting and interior-design franchises in a variety of states. One of his businesses in Reno, Nev., ran so inefficiently, he said, that he could “hear a great big cash-sucking sound every time I thought about it.”

Eventually, he turned the money pit into a cash cow, sold it, played golf and hung out for a full year. “I made a decent chunk of money selling the centers,” he said.

He turned to the stock market but wasn’t impressed with portfolio managers who passively “rode out the lows” between market upswings. He joined the market anyway but managed his own portfolio manually, calculating stock averages on his 1980s computer.

A few of his younger friends hopped aboard, but it was their parents who made up the majority of his small, grassroots investment group. Friday morning, Oct. 16, 1987, Young and his clique of investors were fully invested. By that afternoon, Young completely cashed out of every stock of his investors because of a tiny but ominous-looking prospect he discovered in his finely tuned calculations.

He forgot about it and took off for a brisk October hunt.

Stock-market strategies

His suspected prophecy of doom turned reality 60 hours later on Oct. 19 when the stock plunged to such a devastating low that the day was dubbed Black Monday.

“I got back and saw that my answering machine was just completely loaded with frantic messages,” he said. “Oh, they were upset, saying things like, ‘That’s my whole retirement!’ and, ‘What am I going to do?”‘

Young’s cash-out decision spared their portfolios from a 22 percent nose dive and boosted his image to attract more serious and affluent clients.

Today, with a $200,000 minimum investment rule and an average account size of $600,000 for his 160 clients, he delicately baby-sits about $100 million regularly and advises outside entities on an additional $200 million.

He tends the money from a sort of master control. He’ll casually tell you it’s just a desk. He doesn’t see the eccentricity of surrounding himself with a system of three wide-screen monitors iridescently gleaming with real-time moving graphs of the national and international markets, no doubt triggering sirens at the slightest downturn.

“It’s like a game of chess,” he said. “OK, like a challenging game of chess,” he corrected.

He doesn’t mind a challenge; he traveled halfway around the world to find new ones.

“Now, hunting a leopard, that’s tough,” said Young, an avid big-game hunter who has hunted leopards in Zimbabwe. “They’re like a mountain lion on steroids.” Shooting the leopard, he said, “was one trick I won’t forget.”

And that’s saying something for a fellow who’s been pulling off tricks since he, as a 12-year-old, received his first magic kit in the mail from a Trix cereal promotion. Since then, he’s yanked rabbits out of his hat, launched and sold profitable businesses, defeated the stock market and raised five children with his wife. And, he says, “It just keeps getting better.”

http://www.deseretnews.com/article/695237477/Ex-magician-turns-skills-to-stocks.html?pg=all

Introductions

Posted December 18, 2007 by admin. tags:Tags: , , ,
Dave Young

Written by:  Dave Young, President

Nate White and I, Dave Young, started this site to give you some insight into Paragon Wealth Management and some tips on investing, building wealth and maximizing your retirement income. We plan to post at least once a week. Feel free to leave comments or contact us directly.

My bio

I am the presidentand founder of Paragon Wealth Management in Provo, Utah. I have helped clients enhance their financial well-being since I began managing money in 1986. I began managing money after I sold my 12 franchise businesses. I started visiting with different investment groups to invest the funds from the sale. However, brokerage firms in the mid-80s, the traditional option at the time, did not meet my needs. Based on my personal investment experience, I believed strongly that their was a better way to manage money. In 1986 I decided to invest my own money and start a wealth management firm.

I am originally from New Mexico, and currently live in Utah. I enjoy spending time with my family, sports, the outdoors, hunting, fishing, camping, and exercising.

Years before I started investing, I performed as a magician in the late 1970s. I toured for four years performing “Grand Illusion”, a full-stage magic show while attending college. I performed over 350 shows, completed three television specials, and traveled the same circuits as David Copperfield.

Nate’s bio

Nate is Paragon’s Chief Investment Officer. He has over 11 years in the money management industry. He attended the University of Utah for his undergraduate degree in finance and Westminster College for his MBA. Throughout his investment career, he has experienced a variety of different roles and responsibilities, including counseling and advising high net worth clients on investment allocation, working on an international equity trading desk, supervising trading personnel, and researching and analyzing investment opportunities. He also has the Chartered Financial Analyst (CFA) designation.

While he attended Westminster, he participated in the D.A. Davidson Student Investment Fund. This national program gave 19 colleges and universities, including Westminster, $50,000 to invest in the stock market. At the end of each year, financial professionals evaluated the investments and posted the results. He was chosen to lead the student investment committee that made the selections for the contest, and in 2001 his team won the competition. They were also the only school to post a positive return on investment during that difficult year.

Nate is from Salt Lake City. He has four children, two boys and two girls. He enjoys snowboarding, history, running and sports.

About Paragon Wealth Management- how we differ

Paragon is a wealth management company located in Provo, Utah. With over 20 years of experience, we are dedicated to creating success for our clients. Paragon has fiduciary responsibility. They do not receive commissions and do not sell any financial products. We are Registered Investment Advisors. Unlike traditional advisory relationships, Paragon clients are free to withdraw their money at any time without paying any surrender charges.

Over the past several years, Paragon has helped several Utah charities raise close to $30,000,000. These assets have been used to fund numerous scholarships and other programs. Several charities use Paragon to manage a portion of their assets.

Dave Young, President and Founder

Posted December 18, 2007 by admin. tags:Tags: , , ,

Dave’s biography has been described as unique and eclectic. After graduating from Brigham Young University, he started his career as an entrepreneur. He successfully started 12 businesses in the early 1980s. In 1986 he decided to sell his businesses and invest the proceeds, but was unable to find a wealth management company that met his needs. As a result, later that year he began managing his own portfolios.

Dave continued to research to find the best methods to invest that would produce most profitable returns. He believed in his methods so much that he invested his life savings and started Paragon Wealth Management. Over 20 years later, Dave continues to invest and research ways he can improve his business to serve his clients better. His methods have attracted national and local attention. He has been interviewed by BusinessWeek, CNBC, the Wall Street Journal, the Deseret Morning News and other national and local media.

He is the father of five children. He has traveled extensively around the world. He enjoys hunting, adventure travel, the outdoors, spending time with his family and exercising. Years before entering the world of Wall Street, he toured for four years performing “Grand Illusion”, a full-stage magic show. He performed over 350 shows, completed three television specials, and traveled the same circuits as David Copperfield in the late 1970’s.

Dave is originally from New Mexico. He enjoys spending time with his family, the outdoors, hunting, fishing, camping, sports and exercising.

Paragon Wealth
Management
is a provider of managed portfolios for
individuals and institutions.  Although the information included in this
report has been obtained from sources Paragon believes to be reliable,
we do not guarantee its accuracy.  All opinions and estimates included
in this report constitute the judgment as of the dates indicated and are
subject to change without notice.  This report is for informational
purposes only and is not intended as an offer or solicitation with
respect to the purchase or sale of any security.  Past performance is
not a guarantee of future results.

Nathan White, CFA

Posted December 12, 2007 by admin. tags:Tags: , , ,

 

 

Nathan is Paragon Wealth Management’s Chief Investment Officer. He attended the University of Utah to earn his undergraduate degree in finance and Westminster College for his MBA. He has over 11 years in the wealth management industry. 

Throughout his investment career, he has experienced a variety of different roles and responsibilities, including counseling and advising high net worth clients on investment allocation, working on an international equity trading desk, supervising trading personnel, and researching and analyzing investment opportunities. He also has the Chartered Financial Analyst (CFA) designation.

While he attended Westminster, he participated in the D.A. Davidson Student Investment Fund. This national program gave 19 colleges and universities, including Westminster, $50,000 to invest in the stock market. At the end of each year, financial professionals evaluated the investments and posted the results. He was chosen to lead the student investment committee that made the selections for the contest, and in 2001 his team won the competition. They were also the only school to post a positive return on investment during that difficult year. 

Nate is from Salt Lake City. He has five children, three boys and two girls. He enjoys snowboarding, history, running and sports.

Paragon Wealth Management is a provider of managed portfolios for individuals and institutions.  Although the information included in this report has been obtained from sources Paragon believes to be reliable, we do not guarantee its accuracy.  All opinions and estimates included in this report constitute the judgment as of the dates indicated and are subject to change without notice.  This report is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.  Past performance is not a guarantee of future results.

Money Manager in Provo (Press Release)

Posted December 11, 2007 by admin. tags:Tags: , , , , , ,
Photo of Wall Street

Clients don’t need to go to Wall Street to receive excellent returns on their investments

Written by:  Shannon Golladay, Public Relations

PROVO, UT– Utah money manager, David Young, has outperformed the S&P 500 with his Top Flight Portfolio for almost 10 years and been kept a secret for over 20.

Young, President of Paragon Wealth Management, manages the Top Flight Portfolio. It has generated a total return of 457% verses 86% for the S&P 500 from its inception on January 1, 1998 through October 31, 2007. Its compound annual return is 19.3%, versus 6.6% for the S&P 500. (Click here to see Paragon Top Flight Portfolio for complete track record and full disclosure.)

“My goal is to make my clients’ lives easier by helping them make good investment decisions,” said Young. “Ultimately, I would like to help them make work optional.”

Young started investing his own money in 1986 after he sold his 12 franchise businesses. He went to several investment groups to invest the funds from the sale, but he couldn’t find anyone he wanted to use.

“I tried several brokerage firms in the mid-80s, the traditional option at the time, and they did not meet my needs,” said Young. “I knew there had to be a better option.”

In 1986 Young formed “The Center for Financial Excellence” where he built basic quantitative models to determine when to be in or out of the equity and bond markets, and he used no-load mutual funds as his investment vehicle. He began to handle his own accounts and soon began managing his friends’ and family’s money. When he avoided the 1987 stock market crash, his methods sparked a lot of interest.

In 1992, Young formed Paragon Capital Management, which is now called Paragon Wealth Management, and registered with the SEC. He added staff and began attracting clients with larger amounts of money. He built more sophisticated and complex quantitative models to determine investment strategies regarding styles, sectors, and markets. Portfolio allocations were based around short-term, intermediate, and long-term models.

Young established the Paragon Top Flight Portfolio in 1998, incorporating Paragon’s most effective models and systems to date. In 2001 he established the Managed Income Portfolio, designed as a very conservative alternative for clients who want limited volatility. Both portfolios primarily invest in Exchange Traded Funds (ETFs).

Today, Young is optimistic about the future, and his Paragon Top Flight Portfolio continues to consistently out perform the S&P 500.

About Paragon Wealth Management

Paragon Wealth Management is a money management firm located in Provo, Utah. With over 20 years of experience, they are dedicated to creating success for their clients. It is estimated that only 10% of investments advisors have fiduciary responsibility, and Paragon falls in this elite group. Paragon receives no commissions and does not sell any financial products. They simply charge a management fee. Unlike traditional advisory relationships, Paragon clients are free to withdraw their money at any time without paying any surrender charges. For more information contact Shannon Golladay at 801-375-2500.

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