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 […]

Our approach to investment management seeks pragmatism in concept and efficiency in practice. It is grounded upon more than a century of market history and informed by our collective decades of investment and advisory experience. Executed with cost effectiveness and practicality in mind, our methodology acknowledges the give and take of return and risk inherent […]

Total returns for major asset classes were positive during the quarter, with equity gains generally strongly so Market performance generally was more favorable among our Portfolio tilts, with international value and small-cap equities faring particularly well Fixed income returns reflected broadly stable interest rate trends against the unchanged backdrop of historically low yields Trends in […]