With each client, we develop a clear and objective view on the investments that should be owned by the client and the appropriate allocation. A diversification framework establishes the long-term guidelines for how the client will be invested across the four major asset classes - cash and cash equivalents, stocks, bonds and alternative assets. Holdings ultimately can include individual securities, both stocks and bonds, as well as exchange-traded-funds and, when appropriate, mutual funds. Portfolios are properly diversified among these options.
Markets are volatile. Therefore, there is the potential to add value in the short-term by developing and executing on themes across the broad market segments - domestic versus foreign and stocks versus bonds. Our advantage comes through the ability to study and interpret the markets both broadly and deeply and make short-term adjustments according to our own view.