Investment Philosophy

This is our belief based on numerous research and data.

• Markets are efficient. Respect the evidence: it is enormously difficult to consistently “beat” the market.

• Simple models outperform expert forecasts.

• Use factors to improve expected returns.

• Choose investment risks thoughtfully.

• Avoid market timing: rebalance systematically.

• Diversify meaningfully across asset classes, approaches, and geographies.  No big bets.

• Costs matter; seek out low-cost investments.

• Taxes matter. Always consider tax-advantaged accounts and strategies.

• Build a portfolio you can trust, then ignore the noise.