Our clients are always asking: Why don’t we deploy all cash immediately? Why do we hold a larger cash reserve than most other investment advisors? We believe our clients will do better if they wait for investments to come to us rather than chasing after us.   We tend to get better buys if we…(Read More)

The cash level in the portfolios we manage has never ceased to be a topic of conversation with potential clients, given the recent run-up of the stock market after Brexit and after the 2016 presidential election. We tell potential clients that the cash reserves have played a strategic role in our firm’s investment…(Read More)