The Massachusetts Coalition of Taft-Hartley Trust Funds, Inc.


Patriot Mullare Associates, Inc.

Patriot Mullare Associates, founded in January 1986, provides quality investment management services by applying a value approach and by limiting assets under management.  As a value manager, Patriot seeks common stock investments in companies of good quality at prices substantially below our estimate of their real worth.  We are imaginative investors for whom preservation of capital is paramount.

Our process for estimating real value relies on our substantial research skills.  Indeed, Patriot devotes virtually all of its resources to basic research.  We have extensive knowledge of quantitative valuation techniques; however, use of such models is the exception to the rule.  In most cases, we prefer a more pragmatic approach in which we apply an appropriate price-earnings ratio to our estimate of future earnings.  All value estimates are defined within a range and modified by our judgment and experience.  Our value estimates also serve as automatic sell signals.


David Van Duyn


Patriot Mullare Associates, Inc.

99 Derby Street

Suite 200

Hingham, MA  02043

Tel: 781-740-1000

Fax: 781-556-1085