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ABOUT GRAMMATICAL CAPITAL
We think of your account as a business funded by your irreplaceable savings
The first priority of a business is survival. The second is to generate consistent free cash flow. We are income-focused investment advisors - everything we do starts from these two principles.
OUR PHILOSOPHY
Capital preservation is our highest priority
Most advisors talk about growth. We start with survival. Your savings represent years of work, discipline, and sacrifice. Our ultimate concern is preserving that capital, because endurance and durability are more important than chasing returns.
To generate consistent free cash flow, we primarily write equity options. We write options on companies we want to own - a process that starts with the fundamentals and ends with our proprietary options screener.
"If we owned 100% of the company and would not keep the current management team, we will not invest in the company."
FEE-ONLY FIDUCIARY
Your interests are our only interests
We're fee-only. That means the advisory fee is our only source of revenue - 1.0% of assets under management, billed monthly in arrears. We don't earn commissions, we don't accept referral compensation, and we have no affiliations with broker-dealers or product sponsors.
We're also fiduciaries, which means we're legally required to put your interests ahead of ours. You can look us up on adviserinfo.sec.gov - we're registered in Florida and Virginia under CRD #324428.
On the practical side, we manage accounts on a discretionary basis. Once we agree on your objectives, we can select securities and execute trades without calling you before every transaction. That lets us move when the opportunity is right.
Our portfolios are concentrated, with 10-15 holdings on average. We do not attempt to track or outperform an index with our holdings or sector weightings. We use separately managed accounts so you can always log in, see exactly what your balance is, and withdraw cash as necessary.
WHAT GUIDES US
Three principles that shape every decision
Survival First
The first priority of a business is survival. We never lose sight of the fact that your savings are irreplaceable. Core holdings must earn their place through rigorous fundamental analysis.
Cash Flow Always
A healthy business generates consistent free cash flow. Our three-stream income approach -options premiums, dividends, and interest - puts your portfolio to work every month.
Full Transparency
Separately managed accounts, fee-only compensation, no proprietary products, no hidden costs. You see everything we do, you can withdraw your money at any time, and you can close your account with 30 days' notice.
OUR STORY
How Grammatical Capital came to be
1983–1987
Denise graduates from Virginia Tech with a B.S. in Finance and begins her career as a branch manager and private banking AVP at NCNB National Bank (now Bank of America) in Fort Lauderdale.
1987
Denise joins the Beck Family Office. The crash of 1987 becomes a formative experience in understanding the fear and uncertainty that overwhelms people when their life savings are at risk.
1992–1999
Denise purchases and operates Electrical Motor Services, a 28-person industrial business. The lessons of running a small business - resilience, growing margins, creating value with livelihoods depending on it - shape everything she now thinks about as an investor.
2011–2022
Ethan graduates from Virginia Tech with degrees in Accounting and History (Cum Laude), earns his CPA, and spends 11 years at Keiter CPAs in Richmond specializing in valuation and forensic accounting. He qualifies as an expert witness and testifies in circuit court.
2015
Ethan co-founds Sustainable Portfolio Solutions, an RIA, where he serves as CEO and CCO. Denise becomes a client, and their professional relationship begins.
2015–2020
Denise's friend and mentor Ron Brandes introduces her to using equity options to generate consistent, above-average cash flow. The strategy takes shape in the Beck Family Office, growing from a few contracts in 2015 to 5% of total assets by 2020. This option allocation generates a similar return to the prior fixed income allocation with a fraction of the assets and risk.
2021–2022
Ethan and Denise begin exploring the possibility of combining their experience - his forensic precision in valuation and her decades of operating and investing discipline. Grammatical Capital is the result.
2023
Grammatical Capital registers as an investment advisor and begins serving clients with its options-based income strategy.
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