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Our Investment Philosophy

“Evidence can clear the path for investing success.”

The Academic Approach. We create long-term value creation for our clients through Nobel Laureate academic theory – a powerful, disciplined and diversified approach to investing. The result, a globally diversified portfolio including over 14,000 equities spread across forty-two countries, designed and engineered to capture market rates of return over specific time horizons. Our evidence based investment approach focuses on four categories.

Effective Market Hypothesis

Markets are priced corrcetly.

Modern Portfolio Theory

Diversity globaly.

Market Factors

Own small value and high profitability stocks.


Avoid emotional investing decisions. 

  • We believe that markets are efficient. One of our Core Values is Free Markets Work!
  • We focus on capturing market returns.
  • We utilize asset-class or structured funds.
  • We diversify prudently.
  • We eliminate stock picking, track record investing and market timing from the investment process.

Earned the Nobel Prize in Economics in 1990 for the collaborative work of Harry Markowitz, Merton Miller, and William Sharpe.

  • The risk of an individual asset is far less important than the contribution the asset makes to the portfolio’s risk as a whole.
  • For the same amount of risk, diversification can increase returns.
  • The mechanism to reduce risk is dissimilar price movements; therefore, the task is to find assets with low correlations.
  • The Efficient Frontier allows individuals to maximize expected returns for any level of volatility.
  • The Market Factor: the extra risk of Stocks vs. Fixed Income.
  • The Size Effect: the extra risk of Small-Cap stocks over Large-Cap stocks.
  • The "Value" Effect: the extra risk of high Book-to-Market (BtM) over low BtM stocks.
  • Recognize that the stock market, the media and popular culture, by and large, encourage behavior consistent with the belief that the market is inefficient. Without a clearly defined investment philosophy, it is easy to be manipulated by media, advertisers and investment professionals eager to sell products.
  • You must understand that there is a choice to be made about how you believe the market works. Do you believe it is efficient or inefficient?
  • Your market belief will guide your investment strategy.


Thank you!