Unwavering in
Our Process

Other firms talk about managing downside risk. Ask them to show you how they’ve performed during major market downturns. We’re willing to throw an over 20-year actual performance record into the ring. We don’t believe anyone’s process works quite like ours to efficiently manage downside risk.

Our experience tells us that most portfolios are carrying too much risk, and while this is a hard message to hear, it’s even harder to experience. Here’s the story about why our strategies perform.

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Our Process

A Story Told
In Four Steps

Our process has remained largely unchanged for over 20 years. Certainly, we’ve added new technologies to our expertise, but our groundbreaking methods—acknowledged by industry experts—remain the same.

Downside First Focus


Downside First Focus

First, the idea of risk management, loss management, and measuring and managing for downside is the very first thing we do and the basis for all of our strategies. Our “Downside First Focus” investment approach is the product of over 25 years of research and real-world asset management experience. We manage strategies seeking the highest expected return for a given downside risk target.

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Asset Allocation


Forward Looking Process

Second, we believe it is more important to focus on where the market is going rather than where it has been. While many investment firms focus on historical returns to determine what would have provided maximum returns in the past, we look forward to investing in asset classes that, when combined, we believe will have the most favorable future long-term return for the risk characteristics.

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Manager Watch


Manager Match

Third, we select our mutual fund managers through our proprietary Manager Match process, which identifies managers of select mutual funds that are most likely to achieve consistent relative outperformance. This way we know we have soldiers who are battle-tested. We review our managers’ performance each month to determine if they stay or go. When researching and selecting managers and funds, we always ask the question: “Is this fund a good investment for our clients?”

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Dynamic Management


Dynamic Management

Finally, we add value by constantly adjusting and rerunning the process again every 30 days while managing many of these aspects throughout the month, as well. Many firms set it and forget it, but we go back at it. We know that dynamic management means measuring, monitoring and adjusting, and we do it continually to reset our thinking.

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An Eye on Capital Markets
Unusual Times

History may not exactly repeat, but it does seem to rhyme.

The impact and reaction that is occurring in capital markets due to COVID-19 is a classic “Black Swan/Fat Tail” event. We have managed portfolios through both September 11 and the Financial Crisis of 2008, and feel safe in saying that while what we are witnessing today is unique to the subject matter, the characteristics and market reaction to the phenomenon seem eerily similar to those we have witnessed before.