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OK, let’s look critically at hedge funds and other alternatives

I met with a client a couple of weeks ago who has a family foundation account that is managed by a large bank (they handle all facets of the account, including grant reviews and check-writing).  This account had not performed as well as this client’s personal account that Sigma managed and in an informal review, […]

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The Hedge Fund Exodus Continues

Over the past few years, clients have asked on occasion about the merit of including hedge fund investments in portfolios.  At its extreme, I sat in the living room of a very wealthy client in North Carolina in 2007 and was politely dressed-down by a money center bank product salesman for not being bright enough […]

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Treat Those How You Want To Be Treated

Last May my colleague Marisa Bradbury wrote a great piece titled, “Putting Investors First,” in which she articulated the title as the principle of the fiduciary standard.  Please read it if you have not had a chance and you are interested in this hot topic, In the investment advisory business, there are two standards […]

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What Have You NOT Done For Me Lately?

My colleagues and I frequently discuss the investment choices that we did NOT make for clients and, in hindsight, express relief in our decision. As is obvious to many experienced investors, Wall Street is a “product factory” and most are for the benefit of the provider versus the investor.  But, they typically come with very […]

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Playing the Hand You’re Dealt

Investors, particularly those reviewing the fixed income part of their portfolios, are lamenting the current reality of relatively low interest rates.  Yes, portfolio management would be easier and more fruitful if the interest rate on the 10 year treasury was 4% instead of 2%.  But it isn’t, so work with your advisor(s) to construct an […]

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Pick Your Poison

I was recently having a conversation about the capital markets with an attorney friend (non-client) who is exceptionally risk averse.  Plain and simple, he intimated that he just could not stomach the constant ups and downs of stock prices and the potential for loss of principal.  He is not unusual in this respect.  Many, if not […]

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