Our Time-Tested Principles for Successful Investing

  • A comprehensive written Investment Policy Statement to guide in making sound, disciplined investment decisions.
  • A fiduciary investment advisor with the highest duty recognized by law, and not merely a commercial brokerage caveat emptor (buyer-beware) relationship.
  • A fee-only investment advisor without commissions and conflicts of interests.
  • An Evidence-Based, Long-Term, Asset Class, investment strategy is preferable to active security selection and market-timing schemes.
  • Markets are efficient. Any inefficiency in the market is quickly corrected before the typical investor can capitalize on any inefficiency.
  • Diversification within asset classes and among asset classes is essential to optimizing risk and return in a portfolio.
  • Costs Matter. The only thing guaranteed is the more you save in internal and other costs the more you make.
  • Taxes Matter. The objective is to optimize after-tax returns.
  • Inflation is as real as it is pernicious. Only the inflation-adjusted, or real, returns matter to clients.
  • The long-term investment in equity asset classes is designed to capture growth; bonds are utilized to provide income and stabilize volatility.
  • The world economy is larger than our domestic economy; to reduce risk and increase return long-term international investing is essential.