Crane Asset Management LLC
Chief Investment Officer
Crane Asset Management LLC is a full-service investment counseling firm providing investment management services to private individuals, retirement plans, endowments, and charitable foundations. All accounts are managed on a discretionary basis. John Frye founded the firm in 2003, with a partner who remains Chief Operating Officer. They work with all of their clients to formulate a long-term investment strategy that will meet their investment objectives while addressing their risk profiles. Understanding their clients in this way enables them to develop unique plans based upon each of their clients’ needs to help them achieve their financial goals.
Before co-founding Crane Asset Management LLC, John served as Executive Vice President and Portfolio Manager at Renberg & Associates in Beverly Hills. He began his career with E. F. Hutton & Company in New York and subsequently worked with Alex. Brown & Sons in Baltimore. He received his Bachelor of Arts in Politics from Princeton University in 1977 and his M.B.A. from Columbia University Graduate School of Business. John holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Los Angeles.
BA, Politics, Princeton University
MBA, Finance, Columbia Graduate School of Business
Assets Under Management:
Crane Asset Management is registered with the State of California. A copy of Crane's Form ADV filing (Parts 2A and 2B) can be accessed here. In addition, Crane's Form ADV (Part 1) can be downloaded from the SEC's website. (Type in Crane's name in the field provided and follow the instructions on the site to download the information required.)
You don't say how old you are, but if you are starting your first full time job, I will assume you are in your early 20s. If so, put away as much as you can and invest it all in equities. Yes, they are more volatile than bonds, but that's a good thing because they also have higher long-term return. In your lifetime you will live through several bear markets; don't worry. In fact, a bear market just allows you to buy more shares with the same money. Just don't confuse paper losses with real losses. If your investments decline and you don't sell, you won't take a loss.
Keep in mind that investment risk is just as normal and natural as weather. Markets move in the short-term to the whims of supply and demand, and human emotion. But markets are made up of individual companies that produce steady revenue and earnings. Their real value tends to increase, regardless of what their market value does in the short-term. Don't be concerned about short term market risk if you are investing money you won't need for 40-plus years. Instead, invest in good quality companies and hold for the long-term.
I agree with the other answers. You should definitely not take money from a retirement account. I have only one thing to add.
You didn't get into a $50,000 hole all at once. I'll presume that you had a period of un- or under-employment and it was necessary to borrow (If you didn't, then you have a real spending problem and need to impose strict austerity measures right away). Start immediately on a program of cutting out nonessentials from your monthly spending. Cook at home. Don't buy clothes. Travel cheaply, if at all. I don't know your take-home salary or your essential budget, but devote every other dollar to paying down debt. Every dollar. The stricter you are with yourself, the shorter the time you will need to do it. I know I sound like an awful tyrant, but I speak from experience. You can do it. Best of luck.
Motif looks like a "robo-advisor" aimed at neophytes and designed to help them avoid some of the common mistakes they make. Just keep in mind, there's no one right way to invest. I would advise you to find a system (Motif, or anyone else you trust) and get started with putting away money for the long term. Then, read up on investing. There are hundreds of books to choose from, and as long as you don't fall for the ones that predict that the end of the world is coming soon, or get the idea that you can predict the market, you can probably glean some good insights. But don't be afraid to get started, just because you are unfamiliar. Best of luck to you.
Your period of ownership begins when you bought the Alcoa. Your cost was adjusted twice: once when AA did a 1:3 reverse split in October, and once when your original cost was allocated between the resultant shares of AA and ARNC, effective 11/1. If you bought Aloca shares more than a year ago, you will have a long term gain when you sell Arconic this year.
Congratulations on doing something that I wish everyone did, you are starting to invest at a time in your life when you have many years to build your nest-egg. The extra time over someone who doesn't start until they are 30, for example, is very, very valuable.
Keep in mind that brokers are in the business to make money. They are not teachers, they are salespeople. They aren't going to spend a lot of time with you, or give you particularly good advice, unless you have enough in your account to make it worthwhile to them. Even then, they may steer you to investment products that maximize their employer's revenue (and their share of it).
A registered advisory firm (such as the one I run) is duty-bound to act in your best interests. To the extent that an advisor has the time, he or she can help answer your questions and steer you to relevant investment literature. But we all have account minimums and can't usually take time with small accounts, since the big ones are demanding our time as well. If you are at college, check out whatever investing courses might be offered. And maybe you should post another question on Investopedia asking what the best three or four books are. In my opinion, you should get 'One Up On Wall Street' by Peter Lynch and 'A Random Walk Down Wall Street' by Burton Malkiel. Both are fabulous basic texts. Good luck, and feel free to message me privately if you have further questions.