Our approach can be summed up with one word: consistency. Whether we are considering individual stocks, mutual funds, hedge funds or closed end funds, our investment process focuses on investments that are likely to deliver consistent and reliable results. We look for opportunities that may be either overlooked or under-researched and that may provide solid returns for clients over long periods of time.
For each area of investing – stocks, mutual funds, hedge funds and closed end funds – we have a well-defined discipline that describes our research process. (Each of these disciplines is defined in a separate document.) While each investment vehicle is distinct, they share a common underlying philosophy of searching for consistent results and understanding how we might lose money as much as how we might make money.
All of our investment processes are supervised by the Investment Committee, chaired by Jerry Paul. The Committee meets at least weekly to discuss the current investment and economic climate, existing client investments, new opportunities and potential changes to portfolio positioning. This process ensures that we are consistent in our approach to investing. For example, if there are new developments in the fixed income markets, we consider the impact of those developments when evaluating individual stocks.