Our Approach

We accept new money judiciously.  Clients are generally accredited investors with whom we have some prior relationship or are referred by friends and colleagues.  Money management is a very personal and ongoing relationship.  We strive to ensure that our style is compatible with a client's temperament and expectations.

We are active money managers.  Our accounts do not passively blow with the market winds, nor do we subcontract to third-party managers and collect a fee merely for oversight.  We manage for absolute risk-adjusted return. As such, we may at times seek diversification, raise cash, or concentrate on specific sectors.  

We look down before we look up. We prefer to avoid a loss rather than overstay a risky market in fear of missing a profit opportunity. This is not because we are particularly conservative; it is because of the math. We are paid to grow your money over time, and one bad year makes a mess of our compounding.

We do not use options, futures contracts, margin, or short sales.  We may occasionally use certain derivative-based exchange-traded funds to hedge in volatile markets. Exchange-traded funds are our primary tool, although we may occasionally employ mutual funds if superior performance is consistent.  We will also buy individual stocks for dividends or to exploit a particular theme.