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Investment Management

A smart way to invest.

Custom Portfolio Construction

Drafting a Blueprint

We begin designing your custom portfolio by obtaining a bird’s eye view – we assess your current needs, long-term investment goals, and risk comfort levels. This informs the foundation which we will build upon.

Building a Foundation and Framework

We lay the groundwork for the finished portfolio design by building out multiple asset allocation models to compare expected after-tax returns, stress-tested risk characteristics, and annual cash flows. This informs the final design choices that are suited to your needs.

Completing the Finishing Touches

We conclude the building project by developing a tax-efficient, cost-effective investment and implementation strategy that is aligned with the blueprint we developed.

Portfolio Optimization

Our Daily Discipline

We put the work in, daily.

Morning Notes
We have been writing Morning Notes every day for the past eighteen years. The disciplined approach to collecting, refining and then sharing information has become an irreplaceable part of our practice which feeds directly into how we approach market timing.

Market Timing
We define market timing as the nuanced practice of deciding when to be cautious and when to be aggressive. Ignoring these relatively easy to identify periods is a common mistake. And the timing is probably a shorter cycle than most would expect. You don’t need to predict the future to judge market cycles and measure their duration.

How do we manage risk?

Protecting Gains
Individual positions with large embedded gains can be protected through volatile market conditions without incurring significant capital gains. We sometimes use publicly traded option collars to act as single-position insurance over various time periods. Option collars can be a highly effective, cost-efficient hedge to safeguard your most appreciated positions.

Sell Discipline
We use short term losses to offset long term gains, to further our goal of delivering a net-zero tax bill at the end of the year. This is a strategy that is simply not possible with pooled investments.

Let’s get started.

It all starts with a conversation. We can review your existing portfolio, make suggestions for what we’d sell or hold based on cost basis and fundamentals of the names, and then provide you an estimate of what a portfolio with us would look like, complete with guidance for implementation and potential tax consequences.

Request a Consult