Our Practical Approach to Tactical Investing
Philosophy
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We believe markets are cyclical - asset classes go up and down in extended trends (lasting months, often years).
We also seek to recover from downturns more quickly than our benchmark; reducing the impact of “sequence of returns risks” and helping investors tolerate and potentially capitalize on volatility.
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Process
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We believe markets are cyclical - asset classes go up and down in extended trends (lasting months, often years).
We also seek to recover from downturns more quickly than our benchmark; reducing the impact of “sequence of returns risks” and helping investors tolerate and potentially capitalize on volatility.
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Service Model
If we can participate more in advancing than declining markets, we end up ahead.
We also seek to recover from downturns more quickly than our benchmark; reducing the impact of “sequence of returns risks” and helping investors tolerate and potentially capitalize on volatility. ​​​
How we think about investing is practical
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What we do about it is tactical
Practical
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Practical thinking keeps us focused on the pursuit of our goals within the confines of limited choices.
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We strive to evaluate current conditions as they are – rather than what we think should be or fear might be.
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We don’t rely on predictions, but we do apply decades of practical experience and objective data to form opinions, exercise judgment and plan contingencies.
Tactical
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Our hierarchy of tactical decisions flows from asset allocation and risk management to security selection based on relative performance and anticipated portfolio contribution.
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Our portfolio is actively managed to allow for multiple contingencies with the liquidity to respond to new information and changing trends.
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We hold ourselves accountable through transparency and performance monitoring.