Investment Philosophy

Part of knowing his clients means Ray is acutely aware of their financial goals and obligations. Keeping this in mind, Ray is able to work with each and every client to find their preferred level of risk for particular investments and ultimately for their entire portfolio. An interesting dynamic arises in that with over 35 years of experience in investing, Ray is a leader in his company, but still knows full well that being successful in any field requires continual personal growth and study.

To understand Ray’s investing style, one has to be knowledgeable on the many shaping factors in both modern economics and in Ray’s own personal experience. On the academic side, Ray is a believer in the theories of economics that were born from The University of Chicago and studied around the world. He subscribes to certain fundamentals of “Modern Portfolio Theory” - the philosophical theory that is the opposition to traditional stock picking.[1] The theory aims to capture the maximum expected return given an amount of risk for a portfolio. Instead of trying to beat the market using the flashy buying and selling of stocks and options like they do in Hollywood movies, Ray knows that MPT has proven that steady, long-term “boring” strategies capture the maximum return and offset much more risk over any time horizon. As the saying goes, “If you want excitement, go to the casino.”

As much as Ray values MPT for its investment strategy breakthroughs such as portfolio diversification, he also understands that financial markets include an often overlooked “human” element that cannot be captured in any mathematical formula. This is where experience takes over. Ray is without a doubt a firm believer in unemotional investing but to Ray, unemotional investing is not uninvolved investing. Investing a portfolio and simply walking away is not in Ray’s nature. He is constantly studying the market, checking funds to make sure they are performing up to expectations and rebalancing allocations to pursue the highest return.

Consequently, sitting down with Ray is not a discussion of hot stock tips with a stock trader in an expensive suit; it is an insightful, focused look at the economy, your finances, how they are affected, what your outlooks are and what can be done. Among Ray’s many qualities is his ability to fundamentally break down complex scenarios to present clear and concise logic which can be useful and practical. Whether it’s putting savings away in tax-advantaged returns of a municipal bond portfolio or pursuing broad market diversification offered by ETFs, Ray doesn’t make commissions by pushing unwanted or unnecessary “off the rack” products. Ray crafts a unique plan - taking into account your needs and goals - in order to help you pursue your financial goals.

All investing involves risk including loss of principal. No strategy assures success or protects against loss. 

[1] (Markowitz, H.M. (March 1952). "Portfolio Selection". The Journal of Finance 7 (1): 77–91)