Inc. was founded in 1992 by Stephen J.
Church. Steve has provided investment
consulting service to wealthy investors and
large pension funds since 1986. We provide
investment supervisory, investment
management or investment consulting services
to clients with sizable assets.
Piscataqua Research is
We conduct research
into the sources of investment performance;
the valuation of asset classes; the
valuation of stocks; and the environment for
economic growth. Though it is much harder
to identify facts than to create opinions,
we strive to find useful facts that guide us
in choosing investment strategies.
Investing is a
business. Investment managers, banks,
brokers, and insurance companies try to earn
profits every year. You should, too. The
rules of sensible investing are:
Rule #1: Try
to earn money every year. We help you
design a strategy where you only take risk
when you understand how you will make money.
Educate yourself and insist that companies
that want your business educate you. Do not
play the confidence game. Make decisions
for yourself. We help you find the
information that you need.
Rule #3: Pay
fair fees for the likely returns. Every
dollar paid in expenses reduces your
investment returns. Most successful
investment strategies pay total fees
averaging 10% or less of their expected
returns. We help you make fee choices.
Rule #4: Use
well-known organizations with good records
of team investing and a reputation for
providing dependable services at fair
prices. We help you narrow down the choices
in the confusing and constantly changing
world of investment management.
To us, integrity is
the act of working in the best interest of
our master: you. We:
Accept only fees
paid to us directly by clients;
potential conflicts of interest; and
Provide all clients with consistent access
to our research.