Richard Cloutier

Richard Cloutier

Richard Cloutier, Jr., CFA, is currently the director of research and a portfolio manager with Heritage Capital Management Inc. Founded in 1981, Heritage Capital Management Inc. is a wholly owned subsidiary of Wainwright Bank & Trust Company. Heritage manages equities, fixed income and balanced portfolios for individuals, families, trusts, corporations and endowments. Its objective is to provide clients with competitive performance results, minimal risk and personalized service.


Richard has 18 years of investment experience and holds an MBA from Boston University. He has previously served as the director of research at Wingate Financial Group, as an equity analyst at Common Ground Investments and as an equity and fixed-income trader at Fidelity Investments. He is a member of the Boston Security Analysts Society, the CFA Institute, Academy Health's Health Economics Interest Group and the Social Science Research Network. He is the author of the novel "Caveat Emptor" (2003).

  1. Bonds / Fixed Income

    The Risks of Mortgage-Backed Securities

    Find out how weighted average life for mortgage-backed securities (MBS) guards against prepayment risk. Determine how yields ...
  2. Bonds / Fixed Income

    How to compare the yields of different bonds

    Understand how to compare the yields of different bonds and find out how to equalize and compare fixed-income investments ...
  3. Bonds / Fixed Income

    Convertible bonds: pros and cons for companies and investors

    Understand what effect convertible bonds have on investors and companies. Find out the advantages, disadvantages, and what ...
  4. Financial Analysis

    How to use gross national product as an indicator

    Learn what the GNP truly represents, and how its misuse can manipulate the facts.
  5. Taxes

    How Tax Cuts Stimulate the Economy

    Learn the logic behind the belief that reducing government income benefits everyone.