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This profile was last updated on 11/4/14  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Joseph F. Patton Jr.

Wrong Joseph F. Patton Jr.?

President, Chief Executive Office...

J.P. Marvel Investment Advisors , Inc.
265 Franklin Street Suite 710
Boston, Massachusetts 02110
United States

Company Description: J.P. Marvel Investment Advisors, Inc. is an investment management firm of six professionals with a wealth of industry experience and skills. Our professionals...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • BA , Economics
    University of Rhode Island
19 Total References
Web References
J.P. Marvel Investment Advisors - Boston, Massachusetts - Our Team
www.jpmarvel.com, 26 Aug 2014 [cached]
Joseph F. Patton, Jr.
President, CEO
Mr. Patton founded J.P.
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At the latter firm, Mr. Patton ran the Boston Capital Markets operation for twelve years. He was the top institutional salesman for more than fifteen years and managed a significant proprietary trading account on behalf of the firm.
Mr. Patton has served as a trustee and fundraiser for a number of non-profit organizations. Mr. Patton is a Trustee of The Corporation for the Woods Hole Oceanographic Institution in Woods Hole, MA and serves on the Investment, Retirement, and Finance Committees. Mr. Patton is an overseer of the Boston Symphony Orchestra. He also spearheaded the fundraising needed to produce the eight-hour PBS broadcast of Daniel Yergin's Pulitzer Prize winning book, The Prize.
Mr. Patton is a Trustee Emeritus at Brimmer & May, an independent school in Chestnut Hill, MA, and also a Member of Board Leaders, Inc.
Mr. Patton served as a lieutenant in the U.S. Navy for four years, specialized in river warfare during the Vietnam Conflict, and served as an officer in charge of a swift boat.
Mr. Patton received his BA in Economics from the University of Rhode Island.
OUR TEAM Joseph F. Patton, Jr.
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Joseph F. Patton, Jr.
President, CEO
617-342-5610
jpatton@jpmarvel.com
Barron's speaks with ...
online.barrons.com, 26 Sept 2012 [cached]
Barron's speaks with Joseph F. Patton Jr., the founder of J.P. Marvel Investment Advisors. He uses hedge-fund techniques to limit risk.
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The firm's founder, Joseph F. Patton Jr., was a U.S. Navy lieutenant who served a dangerous tour in Vietnam as a swift-boat captain in the late 1960s. His radio call sign on these high-powered, heavily-armed riverboats was Captain Marvel, after the 1940s Fawcett Comics superhero. The name "brought me a lot of luck," says Patton, so he put it on his firm, J.P. Marvel Investment Advisors, when he went out on his own in 2007.
That was a perilous time to begin a fund firm and full-year 2008 losses, while easily beating the market's 38% decline, still amounted to about 28%. Patton, who spent the bulk of his work life in Boston as a senior institutional salesman at the former PaineWebber, persevered. Over five years the Marvel portfolio has gained an average of 2.7% a year, beating the S&P's anemic 0.2% annual return through June of this year, as well as its U.S. equity peer group.
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Two themes for Patton: The "energy story is being rewritten" in the U.S. and the Fed has given banks "a gift."
Now overseeing $350 million, the opportunistic firm invests in 40 or so core equity positions, holds some bonds and uses both cash and options on its equity positions to offset its bets. Patton explains that the "10 top positions do the majority of the work" for Marvel, which conducts bottom-up, fundamental analysis on roughly 100 companies, visiting "tons" of them each year. Annual turnover is a very low 20%. Monsanto (ticker: MON), one of the firm's biggest positions at 3%, is a typical holding for 69-year old Patton, who's bought and sold some of his holdings a few times during a four-decade career. He first got to know Monsanto in the past 10 years when he bought the little-followed stock for some accounts at just $6 a share. Today he thinks its seed and fertilizers can be a valuable aid to farmers who are contending with a fierce drought. Marvel purchased the stock in January, at $72; it was trading last week at $91.16 and he thinks it could top $100.
At present, Patton, who gained hedge-fund experience running the high-net-worth group for Longwood Investment Advisors, is focused on an eclectic group of energy stocks, big drug companies paying fat dividends, banks, and municipal bonds.
The energy story, says Patton, "is being rewritten in this country" because U.S. imports, as a share of global consumption, have fallen to 42% from 60% in 1995. At the same time U.S. oil production is rising faster than in any non-OPEC nation, he notes. Marvel has been buying QEP Resources (QEP), an independent natural-gas and oil-exploration and production company, working mostly in the Rocky Mountains and Midwest. Spun off from Questar (STR) in 2010, QEP gathers, compresses, and processes natural gas. "A dozen years ago, shale gas represented only 2% of total U.S. dry production. It is now 37%," Patton says. QEP has stepped up its purchase of acreage in shale basins, and recently agreed to buy North Dakota oil assets, expanding its Williston Basin holdings. The shares trade at $32.04 and Marvel has a target of $35. It projects earnings of $1.45 a share in 2012, $2.10 in 2013 and $2.40 in 2014.
Like Monsanto, General Electric (GE) is an old acquaintance of Patton's, who sold it prior to the financial crisis in the high $30s and then bought it back early this year at $18. Marvel projects the industrial conglomerate will earn $1.55 in 2012, $1.74 in 2013 and then somewhere north of $1.90 in 2014. That should allow the stock to hit the mid-20s over the next year, he estimates. Its once embattled finance unit, GE Capital, he notes, has resumed paying a dividend to its parent, and should benefit as U.S. housing regains strength.
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Patton also bought JPMorgan in part because of the Fed's largesse: "They've been given a gift," as he puts it. He prefers JPMorgan to other big banks because of its dividend and high-quality service.
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Dividends are also a major attraction in the pharmaceutical sector, where Patton believes investors have to take a long-term perspective.
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The Chicago-based outfit provides replacement parts to repair cars and trucks in North America, Mexico, Central America, and the U.K. "It's a commodities play as well as a play on the aging automobile replacement cycle in the U.S.," Patton says. The stock is up to $19 a share, from $12 a year ago.
As any of their equity positions approaches its target price, Patton and his seven-person crew must decide whether to sell or not. If they still like the company, they sometimes will sell call options on a portion of its holding, thereby continuing to collect income but allowing some of its shares to be called away. "Options help us minimize the risk in the portfolio," he says.
Patton has over the years owned municipal bonds for individual clients and right now he likes this sector of the fixed-income market. He sticks to general-obligation bonds rated above "A" from issuers with solid balance sheets like Virginia's housing authority as well as the states of Texas, Delaware, and Indiana. "The wild card is taxes" as the fiscal cliff nears, he notes. "If taxes on high earners go up dramatically, municipal bonds will mathematically become more attractive."
The former Navy skipper doesn't waste a lot time sweating about things he can't control, like the stock market's next move. Still, he thinks valuations are "reasonable but no longer dirt cheap. His expectation for 2012 earnings of the S&P 500 is between $100 and $102 a share, a little lower than Wall Street's consensus of $105-$108. Throwing out the tech bubble period, the average multiple of the S&P 500 since 1990 is 16.4 times trailing earnings, notes Patton.
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Barron's speaks with Joseph F. Patton Jr., the founder of J.P. Marvel Investment Advisors. He uses hedge-fund techniques to limit risk.
J.P. Marvel Investment Advisors - Boston, Massachusetts - J.P. Marvel News
www.jpmarvel.com, 1 Feb 2014 [cached]
J.P. Marvel Investment Advisors, Inc., an independent investment firm, announces the election of Joseph F. Patton, Jr. as the company's President and Treasurer and Ms. Joan H. Patton as the company's Secretary...
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J.P. Marvel Investment Advisors, Inc., an independent investment firm, announced its CEO and President, Joseph F. Patton, Jr. has recently been interviewed by Barron's...
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Joseph F. Patton, Jr., CEO and President of J.P.
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Joseph F. Patton, Jr., CEO and President of J.P.
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Marvel Investment Advisors, Inc., you don't hear the word "client," but you do hear firm founder Joseph F. Patton Jr. say the word "partners" a lot.
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Joseph F. Patton, Jr.
President, CEO
617-342-5610
jpatton@jpmarvel.com
Marvel Investment Advisors, ...
www.jpmarvel.com, 1 Dec 2013 [cached]
Marvel Investment Advisors, Inc., an independent investment firm, announces the election of Joseph F. Patton, Jr. as the company's President and Treasurer and Ms. Joan H. Patton as the company's Secretary.
...
Joseph F. Patton, Jr.
President, CEO
617-342-5610
jpatton@jpmarvel.com
J.P. Marvel Investment Advisors - Boston, Massachusetts - Our Team
www.jpmarvel.com, 26 Aug 2014 [cached]
Joseph F. Patton, Jr.
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