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Investment Philosophy: Stocks at the Core


The S&P 500 Index, with dividends reinvested and inflation-adjusted, can be volatile.  But it’s also been remarkably consistent:  the index has almost always stayed between 50% below and 100% above its long-term trend of a 6.4% annual real return*.

This consistency and high level of average return—compare 6.4% to the real return of about 2.8% for treasury bonds over the same period—suggest that stocks are an ideal foundation for long-term investing.

*Data and chart reflect the S&P 500 Index on a total real return basis.  Underlying data comes from irrationalexuberance.com by Prof. Robert Shiller.  Past performance is not indicative of future returns.






Our investment philosophy helps guide clients through changing markets.

Stocks at the Core

We believe that putting stocks at the core of an investment portfolio provides the ideal foundation for achieving long term financial goals and objectives.

Diversification

We believe that diversification is an essential element of risk management.  Diversifying portfolios applies within and across asset classes.

Disciplined Process

We believe in a disciplined investment process that minimizes emotion.  We believe that adhering rigorously to this process can improve long-term results.

Contrarian Investing

We believe that capital markets are frequently dominated by short-term thinking and a herd instinct.  These tendencies create opportunities for investors who take the long view.

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