Liberty Hill Capital, Randall Herion, Portfolio Manager
Randall Herion, Investment Advisor Representative, has actively managed his personal capital as well as the capital of businesses he has a personal stake in, since 2009. His investment practices have been patterned after the teachings of Warren Buffett, Charlie Munger and Joel Greenblatt. See historical performance of personal investment accounts since 2009 under the Performance section. He graduated from Missouri Institute of Science & Technology with a B.S. in Mechanical Engineering in 2000. From 2000 to 2005 he worked as a power trader for Associated Electric Cooperative. He owned and operated Herion Company, a utility/road building contractor, from 2004 to 2012. Before deciding to open Liberty Hill Capital, he worked as an investment adviser representative for Trend Management. He is currently on the boards of the Ozark Chapter of the Missouri Society of Professional Engineers, and Legacy Bank & Trust.
- Our performance vs. others. This should always be the measure of your financial adviser.
- The understanding of how to value a business and the metrics to determine if a business is a good business. The discipline to adhere to the tenets of value investing in difficult periods.
- We do our own research and independent of the financial media. If the financial media disappeared tomorrow, it would not change our investing practices.
- Interest of the clients of Liberty Hill Capital will always be aligned with the Adviser. There are two ways for the Adviser’s compensation to grow; client’s portfolio growth thereby increasing Adviser’s compensation, and since the Adviser’s personal portfolio is invested in the same assets as the clients his worth will increase in direct proportion to your account increase. Very few brokers or advisers are personally invested in what they recommend to clients. We wouldn’t recommend it to our client if we weren’t willing to include it in our personal portfolio, we like our own cooking.
- Risk management. There are several measures we look to determine when it is appropriate to reallocate and position resources to mitigate risk in changing markets. We monitor the Federal Reserve actions, bond spreads between longer maturity and shorter maturity issues, S&P 500 earnings yield vs. corporate bond yields, and bank lending activity.