Managing Risk & Active Management

We are conservative, risk-averse portfolio managers focused on absolute after-tax investment returns.

As such, we favour a balanced approach that utilizes cash, fixed income instruments and equities in varying proportions dictated by the current investment environment and the circumstances of each client. This approach recognizes that investment risk is diminished through appropriate asset diversification.

That said, history has shown that only equities have consistently produced significant real returns (after inflation), and consequently our client portfolios have equity exposure consistent with each client’s risk tolerance.

more than 10 years investment strategy for long-term planning

Our investment style is one of active management, but not active trading.

Most stocks are purchased on the basis of a long-term view of their investment potential and are only sold when fundamentals appear to be deteriorating, or the stock price has fully discounted future prospects.

We are not market timers, but we will hold cash when we are unable to identify attractive reinvestment candidates.

While diversification is a core principle, we endeavor not to over-diversify. In fact, we only buy issues in which we have sufficient confidence to justify holding a significant position. A typical client portfolio holds between 20 and 30 names.