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Investment Philosophy

Pursuing a better investment experience

I believe that there are ten principles to focus on for a better investment experience. 

Embrace market pricing

  • The market is an effective information-processing machine. Each day, the world equity markets process billions of dollars in trades between buyers and sellers--and the real-time information they bring helps set prices.

Don’t try to outguess the market

  • The market’s pricing power works against mutual fund managers who try to outperform through stock picking or market timing.

Resist chasing past performance

  • There is no statistical evidence for the persistence of past performance.

Let markets work for you

  • The financial markets have rewarded long-term investors. People expect a positive return on the capital they supply, and historically, the equity and bond markets have provided growth of wealth that has more than offset inflation.

Consider the drivers of return

  • There is a wealth of academic research into what drives returns. Expected returns depend on current market prices and expected future cash flows. Investors can use this information to pursue higher expected returns in their portfolios.
  • Equities - size, relative price, and profitability.
  • Fixed Income - term, credit, and currency.

Practice smart diversification

  • Holding securities across many market segments can help manage overall risk. But diversifying within your home market may not be enough. Global diversification can broaden your investment universe.

Avoid market timing

  • You never know which market segments will outperform from year to year. By holding a globally diversified portfolio, investors are well positioned to seek returns wherever they occur.

Manage your emotions

  • Many people struggle to separate their emotions from investing. Markets go up and down. Reacting to current market conditions may lead to making poor investment decisions. 

Look beyond the headlines

  • Daily market news and commentary can challenge your investment discipline. Some messages stir anxiety about the future, while others tempt you to chase the latest investment fad. When headlines unsettle you, consider the source and maintain a long-term perspective.

Focus on what you can control

  • A financial advisor can offer expertise and guidance to help you focus on actions that add value. This can lead to a better investment experience.

Avoiding the Great Mistakes

I believe that there are 8 behavioral mistakes that constitute the Great Mistake. They are listed in no particular order because the most dangerous one is the one you are about to commit.


  • Over-diversification
  • Under-diversification
  • Euphoria
  • Panic
  • Leverage
  • Speculating when you think you are investing
  • Investing for current yield versus total return
  • Letting your cost basis dictate your investment decisions

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