Welcome to my Monthly market musings!
Every month I put together a collection of the ‘better’ pieces I have written for clients and prospects – I throw out MUCH more than I include believe me.
The monthly ensemble includes market commentary, potential opportunities [in private markets] and ideas for sourcing, structuring and due diligence.
I find writing focuses the mind and forces one to a conclusion … my ultimate goal is to find the truth so as to steer clients towards both profits and safety of capital.
My specialty is Alternative Investments (AI) and I have worked with institutions, families and individuals to allocate over $1B+ in Private Equity, Hedge Funds, and Real Asset investments over my 20 year career spanning 3 continents.
My investment philosophy is contrarian but not dogmatic! I find my best successes have occurred when fundamentals, technicals and sentiment (I’m a big proponent of behavioral finance) align. Here’s what 20 years of investment has taught me:
Nothing and I mean nothing works all the time in the markets. The best you can hope for is
* Periods of out-performance using your methodology, followed by;
* Periods of losses or high volatility that doesn’t make you so uncomfortable that;
* You bail on your philosophy and have to repeat the cycle with a new religion later
In investing there are good neighborhoods (asset allocation) and good practitioners (investments vehicles / managers). In our experience you are better off in a good neighborhood (instrument, sector, style, geography) than a good manager. Said differently a GOOD NEIGHBORHOOD CAN COVER THE MISTAKES OF A BAD MANAGER – but it’s better to have both.
Oh and did I mention contrarian? Move against the herd.
“Be fearful when others are greedy, and be greedy when ….” – Warren Buffett
So that’s it folks. Complexity has never served me well so I endeavor to keep things simple and yes profitable but most importantly enjoyable for you my valued reader.
If any of the opportunities identified are of interest … let me know. If you need help sourcing, structuring and due diligence … let me know.
Your humble editor
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