Financial and Investment Advisors to Families

In a financial world where clients have become mere account numbers, and the new emphasis rests on mass-marketing investment products and gathering “Assets Under Management,” we continue to deliver the attentive personal service of a knowledgeable and dedicated family advisor.

We believe that we are better investors because of our heritage as advisers to families and the long-term perspective it requires, and we are better family advisers because we possess the deep understanding and experience of real-life, active investing.

Articles

Not all returns are equal

October 22, 2018

During my recent European trip at a dinner with friends, someone asked me if the market was up that day. It’s a question I often get from anyone who knows that I’m an investment advisor and a stock-picker. I often disappoint them saying that I don’t know because I haven’t looked. Are all up days or years in the stock market the same, though? From the outside, a gain of 10% of the entire stock market’s performance seems to be identical with a 10% increase in price, and thus good news for stockholders. In actual fact, not all 10% annual returns are equal.
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How to compound your wealth?

September 25, 2018

If we can only shift our mindset from getting rich overnight to compounding wealth over a lifetime, everything changes and our odds of success dramatically rise…
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Beyond The Headlines

IN INVESTING, BEING RIGHT IS NOT ENOUGH: THE OTHERS MUST BE WRONG

November 12, 2018

In recent months, we have revisited the performances of some of our accounts as well as those of a few other portfolios managed by highly successful long-term investors. Our aim was to try and distillate some wisdom about how long-term performance is achieved and, especially, to dispel some widespread assumptions or preconceived ideas that may lead us to use less-than-optimal tools and techniques for achieving it.
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Zeromania. From a trillion to zero in 10 days?

August 21, 2018

Two great contemporary companies hit milestones recently. Apple reached an astronomical trillion-dollar market capitalization. Meanwhile, Facebook lost 120 billion in a day (comparable to the annual gross domestic product of Warren Buffett’s home state of Nebraska). That made me realize that at Facebook’s record free-fall speed, Apple would need less than 10 days to get to zero… we discuss how the difference between making and keeping money has never been more striking that it is today.
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