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 advisors to families and the long-term perspective it requires, and we are better family advisors because we possess the deep understanding and experience of real-life, active investing.

Articles

The Path to Riches: Slow Millionaires and Forever Millionaires

January 22, 2020

What if I told you, though, that there is a slower, harder, but a more likely path to riches? That slow path to riches is followed by surprisingly few of those who want to grow rich (the slow millionaires) but -- not so surprisingly -- by everyone who chose to stay rich - the forever millionaires.
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The money we haven’t lost

January 8, 2020

In the investment profession, we spend a lot of time thinking about the money we’ve made (bragging rights), more time thinking about the money we wish we’d made (a source of fear of missing out), and almost no time on the money we haven’t lost. But it’s the last of these that’s the silent, invisible essence of successful investing.
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Beyond The Headlines

What if this market will go up forever?

January 13, 2020

In a recent conversation, a prospective client asked me a timely question: “What if this stock market will go up forever?” There are no words that have created more investment opportunities on the one hand and investment trouble on the other than “never” and “forever.” Investing requires us to continuously make our best-educated guesses about the future. The stock market aggregates those guesses in the most efficient way, but it’s driven by fear and greed, and oscillates between those two absolutes of “never” and “forever.”
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When fortunes are made, when fortunes are lost

December 31, 2019

The worst investment advice I ever received was the recommendation to get out of stocks and buy U.S. Treasury bills at the bottom of the market. It was a cold winter evening in March 2009, at the deepest point of the most recent financial crisis (though we couldn’t know that then). I was four years into my investment career in New York City. I was invited to an idea dinner at a very pleasant midtown restaurant. It was a group of top-notch investors around the table, most of them a few decades older than me, and the general feeling was that it was time to abandon stocks for T-bills...
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