What We Don't Do

First, Do No Harm.


Perhaps just as important as what we do is what we don’t do. Sometimes, what makes us different is what we opt out of rather than into.

We don’t do:

  • “Technical” analysis.
  • “Momentum” investing.
  • Investing in heavy cyclical companies with unstable earnings and high capital-intensity.
  • “Sector rotation”.
  • Reliance on macroeconomic models, forecasts, or “black box” models.
  • Borrowing funds to buy on margin.
  • Use of derivatives or options.
  • Add investments with poor prospects for the sake of greater diversification.