Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

Tips to keep your personal information safe

Some important and timely items to remember.  As thoughts and prayers go out to the people affected by Hurricane Harvey, the scammers will not be far behind.  Please do not give money and or credit card information to anyone who calls you soliciting donations for flood and hurricane relief.  If you wish to help out choose a known charity and contact them directly.  If you do get a call, inform the caller that you already gave, or hang up on them, but do not give them your credit card or other information.   Along the same lines, there is a new and improved scam dealing with how you owe money where you are demanded to contact either the IRS or FBI.  This latest scam is pretty good in that the fraudsters are using the IRS or FBI logo in the email to you.  Neither the IRS nor the FBI will email...
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Covington Advisors' Cindy Jones Completes Level I of CFA Exam

Covington Investment Advisors, Inc. of Ligonier is proud to announce that our Portfolio Manager, Ms. Cindy Jones, has successfully completed Level I of the three-part Chartered Financial Analyst (CFA) exam.  After completion of all three levels and other work related requirements Ms. Jones can become a CFA Charter holder.   Covington Investment Advisors is a federally registered investment advisory firm which provides personalized comprehensive wealth management services to high net worth individuals. Its philosophy is to invest long term in proven enterprises of high-quality securities.  Accounts are managed on a separate account basis with Charles Schwab & Co., Inc. as the primary custodian.   Covington Investment Advisors congratulates Ms. Jones on her accomplishment and we have confidence that she will complete the next two levels as successfully as the first.
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More Risk with Less Return

We are frequently asked for our opinion on international investing. Recent articles suggest an overweight allocation to international stocks, more specifically in European stocks, because of their attractive valuation relative to US domiciled stocks. While we agree the valuations may favor Europe over US in the short run, our concern is the risk/reward trade off in doing so. To summarize some of those risks: Transparency: Companies abroad follow different financial reporting standards and abide by different regulatory bodies so comparing apples to apples may be difficult. Less transparency can mean more volatility because audited financial information may not be provided on a regular basis and the local markets may be less liquid. Layers of complexity: There are a couple of ways to invest internationally: direct investment, depository receipts, or through a fund structure. In any structure, diligence is required to account for different settlement instructions, clearing instructions, regulations of the market,...
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The Economic Impact of Opioid Abuse

  As a follow up to our ongoing efforts to defeat the opioid epidemic in Westmoreland County, I wanted to share an article from the Allegheny Institute for Public Policy that briefs on the economic impact of drug abuse. What is the economic impact of opioid and heroin abuse in our area? The estimation ranges from $51-$108 million for each drug in costs for health care, crime, and lost wages and benefits. Nationally these costs were estimated at $55.7 billion in 2007.   Please click on the below link to review the article to learn more about this economic impact, nationally and locally.   http://www.alleghenyinstitute.org/the-economic-impact-of-opioid-abuse-locally/      
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ONGOING WORK TO DEFEAT THE OPIOID EPIDEMIC