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 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.