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David M. Haviland

David M. Haviland
Dave is the Portfolio Manager of Beaumont Capital Management’s (BCM) Investment Strategies as well as a Managing Partner of BCM. He chairs the BCM Investment Committee and serves on the Beaumont Financial Partners (BFP) Asset Allocation and Investment Committees. His overall responsibilities include portfolio management, product creation, and ongoing business development. With three decades of experience, Dave has worked in the financial industry since 1986 and has spent most of his career as an investment advisor. His advisory background has provided him with a unique perspective on managing the BCM Strategies. In 1993, Dave joined his father at H & Co. Financial Services and in October 2000, under his management, Dave merged H & Co. into Beaumont Financial partners (BFP). In 2009, Dave created the BCM division and has been the steward of BCM’s rapid yet purposeful growth. Outside of the office, Dave has always been active in his community. He has served as Treasurer for several organizations, volunteered six years on the Dover School Committee, including multiple chairmanships, and currently serves as Dover’s Assistant Town Moderator. Dave enjoyed coaching his three boys in just about every sport; he and his wife Kate, along with their sons, are active trap and skeet enthusiasts and registered Therapy Dog handlers. Dave is a graduate of Deerfield Academy and an honors graduate of the University of Vermont. Dave is supported by our team of research analysts who also serve on the Beaumont Investment Committees. The team employs a discretionary and quantitative investment process to provide upside participation while minimizing losses.
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Recent Posts

The Anatomy of a Bear Market

June 2, 2020
Updated: 6/25/20     What does a typical bear market look like? How long do they last? When are the majority of the losses incurred? Most investors believe that the losses occur fairly evenly throughout a bear. Based on the past, with one and now possibly two notable exceptions, nothing could be further from the truth. In another piece we wrote about bear markets,

Using Total Return to Meet Your Clients' Withdrawal Needs

May 21, 2020
We originally posted this piece back in 2016 when the 10-year U.S. Treasury (UST) yield was ~1.9%. At that time, most were predicting a rise in interest rates and it would have been hard to imagine that four years later, the 10-year UST would be ~0.65%—especially given where interest rates had been for the preceding decades. Now, the Total Return concept is even more relevant today with interest rates at record lows and no one knows how long they will remain at this level, or where they may go from ...

A Caution From 2007: Beware of the Dividend in Your High Dividend ETFs & Funds

April 23, 2020
Remember this? It’s late in 2007 and the banks have already started their downward spiral. As their prices fell, their dividend yields rose. Most “high yielding,” “high dividend” or “dividend achiever” type ETFs/funds rebalance quarterly, so at year end, what did they do? They loaded up on bank stocks.  

VIDEO: BCM's 1Q20 Quarterly Market Update Call with the PM

April 16, 2020
A few weeks ago we provided a Special Update from BCM's Managing Partner ...

Special Update From BCM Portfolio Manager: Coronavirus and Current Market Conditions

March 20, 2020
The emergence of COVID-19 and its rapid spread have sparked an exceptional market meltdown and a fundamental restructuring of our ...

Recent Repo Market Fiasco and Intervention

March 3, 2020
Recently a reader asked us to explain “the recent Repo Market Fiasco and the Fed’s intervention,” as well as the consequences and outcomes. For those of you who regularly read our blog, we first included a chart on this subject on September 23, 2019.  The answer is fairly technical, but let’s focus on some charts to show the enormity of the issue first.

From the Desk of the PM - Update on Market Selloff and and Coronavirus Fears

February 27, 2020
With the sudden drop in the global equity markets, we thought it might be helpful to remind everyone about where we have been, where we are now, and share some helpful source information.   Before we discuss the virus, let’s go back and remind everyone that U.S. large cap stocks, after demonstrating a decade of leadership, may have gotten ahead of themselves from a valuation standpoint. As the chart below from Ed Yardeni Research shows, the forward P/E of the S&P 500 reached 19X—which is a level not seen since the Dot.com bubble ...

Debunking Some Bunk: Is September Really That Bad a Month?

September 10, 2019
Sometimes our industry grabs on to a concept and cannot let it go. Is September the worst month from a performance standpoint? Does it always/mostly go down? Should one avoid the markets in September? Let’s take a quick look.

Finding Total Return in an Ultra-low Interest Rate Environment

September 5, 2019
Your clients need to withdraw 4-5% a year, but interest rates are setting record lows. Here’s what you can do to help get them there.