How We Invest

How We Invest


We construct, monitor, and rebalance your portfolio using institutional mutual funds not generally available to investors as either "load" or "no-load" funds. Due to economies of scale, these shares enjoy great cost savings . From the universe of professional money managers, we have refined a narrow list of those known for excellence in their respective disciplines - managers we trust with our own as well as our clients' money. We focus primarily on the people, processes, research, consistency, and culture rather than recent "high performance" or "track record". These last items can be misleading and are grossly overused in our industry.

Managing client assets since 1987 has convinced us of the value of active portfolio management, that is, intensive first-person research, fundamental securities analysis, stock selection, and human judgement, as opposed to passive or "index" investing. We know thoroughly the popularly repeated claims for the superiority of the index style. In isolation. most all these claims are true. But in context, they are easily refuted not merely with logic, but with overwhelming historical evidence.

We act with complete discretion over the selection, allocation, and rebalancing of your funds. We do not practice market timing or make "tactical" bets.

Our portfolios are:

  • Strategically diversified with non-correlating assets

  • Balanced between growth and value styles

  • Diversified globally

  • Actively rebalanced as markets change

  • Managed for maximum after-tax potential return

“Successful investing should be an integrated process, not a series of isolated and unrelated transactions” - Brent Forrest