Who is leading your expedition?
Personal CIO (Chief Investment Officer) Service
It's time for a fresh approach
Consumers of all types of products and services are migrating from stale and unattractive offerings to new ones that offer higher quality, are more sustainable, and that their providers care about. This is just starting to happen with investment services which have been slow to adapt to changing consumer needs as many legacy firms struggle to manage old business practices and IT platforms. Read more ...
- There is a lot of friction in the delivery of investment expertise
- There are a lot of specialized investment providers but few with the depth and breadth of perspective to knowledgeably guide investors with respect to macro views and asset allocation
- These challenges apply to individual and institutional investors alike
- It is hard to gain access to such expertise on an unbundled, as-needed basis
The changing investment landscape
Just as water receding in a river can reveal rocks and other obstacles that were not apparent before, so too is the investment landscape changing in ways that reveal new obstacles and challenges for investors. Unusually strong returns for risk assets over the past 30 years have vastly diminished the need for investment strategy. The prospect of weaker returns over the next 30 years raises several higher-level questions such as determining the conditions under which exposure to risk assets should be minimized or avoided altogether.
Over the last 30 years, any asset allocation at all would have led to pretty much the same (very good) return.
Ben Inker, GMO, "Breaking Out of Bondage", April 30, 2015
During the '90s, Forrest Gump could have managed a successful investment firm. Not missing a beat, an audience member shot back, "He did!"
Jim Ware, High Performing Investment Teams
Don't you want your investment strategy guided by someone who knows where they are going?
To an indefinte optimist, the future will be better, but he doesn't know how exactly, so he won't make any specific plans. He expects to profit from the future but sees no reason to design it concretely.
Peter Thiel, Zero to One
You aren't the only one. Even the largest institutional investors are re-evaluating their resources in order to deal with these challenges
The needs of institutional investors have changed. They need to know what's behind the investment strategy. Not just performance, not just the people managing the strategy, but also what the manager's fundamental view is on how markets misprice securities and how the manager will profit from using that knowledge,"
Institutional investors desperately want knowledge transfer for the purpose of improving the asset allocation and returns of their whole portfolio.
How can I use your expertise to solve X problem?
"Investors turn to managers for strategy, macro advice", Pensions and Investments, September 17, 2012
To help investors invest better - by ensuring that clients receive the full benefit of our expertise
To avoid getting caught up in short term noise and to establish an appropriate time horizon for judging investment risks and opportunities
To continuously generate valuable insights into investment risks and opportunities - and to facilitate the transfer of that knowledge
You might also be interested in learning about ...
- A number of issues we consider crucial to understanding and navigating the investment landscape here: Key things investors should know
- Regular insights that are relevant to investors but often under-reported here: Areté blog
- A list of books that has been especially influential to our thinking here: Reading list
- One of the tools we use to evaluate quality of earnings and growth potential here: S&P 500 checkup report
Learn more about what we do and how we think in the Research and Education section. Take me there.