Investment Philosophy Rooted in 95 Years of Academic Research
Markets historically compensate investors for the risks they take – but a long-term time horizon is needed.
We don’t try to time the markets or find “mispriced” stocks. Instead, we trust the markets to be efficient. We research to understand and invest in risk factors that historically outperform over the long term.
It’s easy to get spooked by market downshifts and easy to think that actively playing the market is your best path to financial security, but short-sighted emotional reactions typically cost you in the long run.
Over the 20 years ending in 2018, the average equity fund investor underperformed the S&P 500 by 1.74% annually. (DALBAR 2018 Quantitative Analysis of Investor Behavior).
We’re committed to seeking the rewards the equity markets have historically delivered over the long-term, but through the calm, disciplined approach of strategic investing.