We specialize in managing money for safety minded retired and professional people and implement a "margin of safety" strategy. We buy shares of great businesses when they are on sale, meaning the share price is at least 20% below the current intrinsic value of the business. We define a wonderful business as a company with significantly above average returns on invested capital, ROIC. We demand a durable competitive advantage with above average growth rates of sales, earnings per share, book value and cash flow. We also require the firm to be financially strong with very low or no debt. We prefer firms that pay a rising dividend and are actively buying back their own shares. We actively defend our portfolios in bad markets and raise cash and may add hedge positions, if the major trends are down or if the market is significantly overvalued.We manage money with no commissions, no surrender charges and no hidden fees. If you have $75,000 to $10 million, we would be honored to visit with you.We offer a free "second opinion" review to help you increase your returns and reduce your costs. Protected Capital Management was founded as a fee-only registered advisor in 1993.You can learn more at: www.pcmvalue.com or call us at 208 378-1304.