Investment Philosophy

Investor Emotions

Most investors and advisors make decisions based on stress and euphoria, fear and greed. We don’t.
Investment decisions must be made solely on the basis of quantitative data; there is no room in investing for intuition, opinion and conjecture. There is no room for emotions, because…
…emotional investment decisions generally lead to inferior outcomes. But the emotional choices of others create an opportunity for our clients because…
…emotional and irrational choices keep investments inefficiently priced. This inefficiency creates profit opportunities for our clients.

Most investors and advisors outsource investment selection to strangers. We don’t.
We combine time-tested and Nobel Prize winning methods with our own proprietary research to create a powerful investment method that accomplishes key goals, including…
…selecting deeply underpriced assets with a good statistical chance of appreciating…
…using tax efficient vehicles to maximize long-term growth.

Most investors and advisors define risk as portfolio volatility (AKA price fluctuation). We don’t.
Volatility is a poor way to define risk for two reasons. First…
…the volatility approach “backloads” portfolio risk, and second…
…the volatility approach completely ignores strategy risk.