Our Practical Approach to Tactical Investing

Philosophy

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.

 

Process

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.

 

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

What we do about it is tactical

Practical

  • Practical thinking keeps us focused on the pursuit of our goals within the confines of limited choices.

 

  • We strive to evaluate current conditions as they are – rather than what we think should be or fear might be.

 

  • 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

 

  • Our hierarchy of tactical decisions flows from asset allocation and risk management to security selection based on relative performance and anticipated portfolio contribution.

 

  • Our portfolio is actively managed to allow for multiple contingencies with the liquidity to respond to new information and changing trends.

 

  • We hold ourselves accountable through transparency and performance monitoring.