Our Process

We believe that overlapping research responsibilities make for healthy dialogue. We like to call it a “harmonious tension of opposites.” Moreover, an integrated process like ours reflects the way that the investment process actually works. Common factors apply across different types of securities. We are convinced that dealing with cyclical and growth companies, bonds and stocks, and domestic and international securities enables us as a group to make sounder decisions about individual securities. This collaborative process also provides us with a base of knowledge for making judgments in the future. Our basic approach has remained constant over our history, although we regularly fine-tune it.

The same team analyzes both bonds and stocks so that we have a good feel for the wider market environment when we construct our Balanced, Bond, and Equity portfolios.

We continuously review the portfolios to ensure quality control. Because of our discipline of documenting all the pertinent details of every investment, as well as the basis for selecting it, we maintain a substantial audit trail that helps in tracking the effectiveness of our research inputs.