Tempest stands tests of time, markets.

• Author: Taylor, Mike
• Position: Attitude at Altitude - Tempest Investment Counselors Inc. - Brief Article

DAVID LANSDOWNE IS ASKED IF HE EMBRACES THE STYLE OF ANY particular investor, a Warren Buffett or a Peter Lynch. He pauses.

"This is a business that you can easily get caught up in 'group-think,'" he says. "It's self-reinforcing. If everybody has the same opinion in the investment business, the only thing that's probably going to change is price. And if you've overpaid for something ... that can be pretty disastrous.

"I think rather than trying to pinpoint one (investment style) exactly, it's an appreciation for making your own decisions."

Lansdowne is president of Tempest Investment Counselors Inc., an investment advisory firm in Denver that manages about $440 million in client assets. Tempest has been around since 1976 and Lansdowne has been there since 1983, so together they've been through enough economic cycles not to be rattled by what's going on today.

"I think it gives us a wealth of experience to draw upon," Lansdowne says. "It's been a popular field to come into in the last five to 10 years, but unfortunately a lot of people have not experienced even a recession, let alone a bear market like we're seeing."

Tempest, along with managing about 250 individual accounts, also manages a series of mutual funds -- the Aristata Equity Fund, the Aristata Quality Bond Fund and the Aristata Colorado Quality Tax-Exempt Fund.

Tempest, an easily remembered name for these economic times, did not own Enron or WorldCom stock, but Lansdowne suggests the downfall of those companies has affected all investors.

"I think the continual unwinding of some of the excesses in corporate America are certainly taking their toll on investor psychology, investor confidence," Lansdowne says. "So the markets have generally come under pressure. I think the good news is we are starting to see more openness on the part of corporate managements.

"And I think it's important to remember that the...