Investment Principles
Asset Allocation:
The portfolio’s mixture of stocks, bonds, and cash, is the primary determinant of a portfolio’s volatility/risk and reward.
Diversification:
A well structured portfolio must be globally diversified. Never compromise on diversification.
Liquidity:
A well structured portfolio must be totally liquid. Never compromise on liquidity.
Costs:
Lower costs help close the gap between what the stock and bond markets earn and what a portfolio earns.
Tax Management:
Consider taxes when structuring, restructuring, and implementing a portfolio.
Discipline:
Stay the course – Ignore the daily gyrations of the stock market.