Investment Philosophy

Simple portfolios continue to consistently outperform top endowments.

It’s not enough to follow someone’s advice to invest in index funds. Actual passivity contradicts the trustee’s duty to act as a prudent fiduciary. Passive investment products are potentially as complex as any other, and prudence demands careful evaluation.

For many of us who have been in the industry for many years, the evidence is hard to take.

More than products or models, financial advice is about helping clients reach their goals.

Resist the temptation to invest like endowments, and keep it simple.

Does “more institutional” with more “alternatives, ” such as hedge funds, mean better? I don’t think so.