We have the experience, expertise and confidence to think independently; we do not necessarily follow the crowd.
Investment portfolios must be responsive to your changing needs and changing market environments.
Asset allocation is the primary driver of portfolio returns and only through integrating your overall financial objectives with the market environment can intelligent allocation and investment decisions be implemented.
Limiting losses is critical to long-term compounded growth.
We endeavor to construct portfolios that are designed to preserve capital in even the most difficult economic environments.
Non-traditional strategies and managers can play a valuable role.
We believe that alternative assets, when used properly, can provide less correlated returns with a more tailored risk-return profile.
It is difficult to make predictions, especially about the future.
Our portfolios are not based upon confidence in any one economic forecast, but consider a wide range of possible scenarios. Diversification provides protection against the inability to know which of a variety of scenarios will play out.
Managing costs is critical and controllable.
We pay careful attention to costs relative to the value added by high fee products and managers. Additionally, we leverage our relationships to negotiate lower fees and more favorable terms when possible.
What you keep is all that matters.
We focus on net after-tax returns with an emphasis on, and sensitivity to, tax considerations. We actively rebalance portfolios to minimize tax liabilities.
Finally it is the long-term investor, … who will in practice come in for most criticism, wherever investment funds are managed by committees or boards or banks. For it is in the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion. If he is successful, that will only confirm the general belief in his rashness; and if in the short run he is unsuccessful, which is very likely, he will not receive much mercy. Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.