With all matters investment related, we seek to avoid surprise when the unexpected happens. This objective promotes a healthy skepticism of the consensus view and supports a calm demeanor in the presence of market instability. Even more, measured thinking encourages a heavy emphasis on risk measurement and control, a central tenet of our approach to investment management. Though the approach is not fail proof—we are human, after all—the intention at least ensures we maintain a proper perspective in all our work.
1216-SRCM-Commentary