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Home > Financial Services > Stock Brokers > Tweedy, Browne Company Llc
Tweedy, Browne Company Llc
Tweedy, Browne Company Llc is a member of NASD, the National Association of Securities Dealers. NASD is a self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDQ stock market and over the counter markets. It also administrates exams for the investments professionals, such as the series of 7 exams.
Tweedy, Browne was founded by Forrest Berwind Tweedy in 1920 as Tweedy & Co., a dealer in closely held and inactively traded securities. The firm's 85-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment advisor. Their investment approach derives from the work of the late Benjamin Graham who co-authored the first textbook on investment research. Graham, through his investment firm Graham-Newman Corp., was one of Tweedy's primary brokerage clients. It was through Graham that the original partners of Tweedy developed brokerage relationships with investment legends such as Walter Schloss and Warren Buffett, and met Tom Knapp who was to come to the firm in 1957 from Graham-Newman and lead its conversion from broker to investor.
The company and their families and Tweedy, Browne employees had more than $553.2 million of their personal funds invested in portfolios combined with or similar to their clients' portfolios including approximately $75.3 million in the Global Value Fund and $41.6 million in the American Value Fund. Most investments in Tweedy, Browne portfolios have one or more of the following investment characteristics: low stock price in relation to book value, low price-to-earnings ratio, low price-to-cash-flow ratio, above average dividend yield, low price-to-sales ratio as compared to other companies in the same industry, low corporate leverage, low share price, purchases of a company's own stock by the company's officers and directors, company share repurchases, a stock price which has declined significantly from its previous high price and/or small market capitalization. Academic research and studies have indicated a historical statistical correlation between each of these investment characteristics and above average investment rates of return over long measurement periods.
The Tweedy, Browne Global Value Fund seeks long-term growth of capital by investing throughout the world in a diversified portfolio consisting primarily of non-U.S. marketable equity securities, although investments in U.S. securities are permitted and will be made when opportunities in the U.S. appear more attractive. Investments are focused in developed markets, and where practicable, perceived foreign currency exposure is hedged back into the U.S. dollar.
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