Canal Capital Management is pleased to announce that we have been selected to the Inc. 5000 list for 2021, our fourth year in a row. This is an annual ranking that consists of the fastest growing private companies in America. Canal came in ranked at number 4,723, and was one of only 44 Richmond businesses included on the list.
How the 2021 Inc. 5000 Companies Were Selected Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2016 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2016. They must be U.S.-based, privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2020. (Since then, some on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
Note: Growth rates used to determine company rankings were calculated to two decimal places. In the case of ties, the companies with more revenue were placed higher.
We are pleased to announce that Canal Capital Management is a part of the 2020 RIA Channel Top 50 Emerging RIA List. RIA Database® has been producing Top Advisor lists for Forbes for over 10 years. The Emerging RIA list recognizes growing firms under $500 million in assets under management. Click here to read the full list.
Canal Capital Management is pleased to announce that we have been selected to the Inc. 5000 list for 2020, our third year in a row. This is an annual ranking that consists of the fastest growing private companies in America. Canal came in ranked at number 4,227, and was one of only 31 Richmond businesses included on the list.
How the 2020 Inc. 5000 Companies Were Selected Companies on the 2020 Inc. 5000 are ranked according to percentage revenue growth from 2016 to 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They must be U.S.-based, privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2019. (Since then, some on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
Note: Growth rates used to determine company rankings were calculated to two decimal places. In the case of ties, the companies with more revenue were placed higher.
As we briefly highlighted a few weeks ago, as the
equity markets began to sell-off, we continue to monitor the economic turmoil
and remain confident that global markets will recover from the economic
uncertainty that we are facing with COVID-19 (Coronavirus). As we have told
clients in the past, volatility and economic/political uncertainty is very
normal in financial markets and it’s important to not overreact and panic. It
is very normal for investors to feel like this time is different as we go
through a correction. While the circumstances driving each are always
different, one thing we know is that we eventually emerge, and over time, the
markets continue to move higher.
Of course, we are closely following all the headlines
and like everyone else don’t know how long this will persist; but what we do
know is that the underlying US economy appears strong and the financial system
is well-capitalized. We are still in the early stages of truly understanding
the full economic, financial and social impact to our economy and globally.
There is no doubt at this point that global GDP will slow, but we remind
clients that the market is forward looking and already pricing this in to some
extent. That said, the possibility of more downside is very real, and the bottoming
process may take a while.
We are closely monitoring client portfolios and will
adjust as new information becomes available, but we are not in the business of
timing markets and calling tops/bottoms. Each of our clients are allocated
based upon the plan that we set in place for them and we do not believe it’s a
time to deviate from that by either dialing up risk or by bringing it down
significantly. With the range of outcomes being so vast, we feel it best to
stay the course. It’s not time to sell but it’s also not a time to ditch your
bonds and cash for stocks.
We are hard at work trying to identify how we can use
this downturn to our advantage: tax loss harvesting, buying great companies at
steep discounts, & shedding exposure to areas of the economy that we view
as being unstable, such as Energy. You have heard us harp on the importance of
diversification and periods like we are currently experiencing are a reminder
of why it is vitally important. Our bonds and other diversifying strategies
have performed quite well over the last few weeks.
As always, we are here to answer any questions and be
a resource. Please feel free to reach out at any time.