The Investment Answer

10/15/2014

Dear Clients and Friends,

We are often asked about our investment beliefs, our portfolio construction philosophy, our modus operandi. And, of course, when asked, we are delighted to share our thoughts about how to achieve a “successful investment experience.”

As our clients already know, we have core beliefs that shape the way we make investment decisions. Using our core beliefs as our GPS, our guiding compass, we have confidence in times when others may feel lost; when others may be looking for their direction. Some who share our philosophy call our approach “evidence-based investing.” This moniker may be appropriate given the fact that many facets of our investment discipline are based on tried and true methods as opposed to the latest investment fad.

In a 1947 speech before the British House of Commons, Winston Churchill said, “Many forms of government have been tried and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise.”

We believe that our core investment beliefs are like democracy. They aren’t “perfect or all-wise,” but they are the best and most appropriate tenets we have for achieving a successful investment experience. So, given our confidence, why don’t we write a book and share our knowledge with the rest of the world? Well, because someone beat us to the punch.

The Investment Answer is a book written by a financial advisor, Dan Goldie, and his client, Gordon Murray, a (reformed) Wall Street veteran. When Dan found out that Gordon was diagnosed with terminal cancer and had six months to live, Dan asked Gordon if he wanted to write the book that he always talked about writing. In 2010, the book was the subject of Ron Lieber’s Your Money column in The New York Times. Gordon Murray lived to see the book published, passing away just days before the hardcover release of the book. Since 2010, evidence of the importance and validity of this investment philosophy has grown.

The New York Times’ article may be found at this link: http://www.nytimes.com/2010/11/27/your-money/27money.html We hope you enjoy it! Please contact us if you would like a complimentary copy of The Investment Answer, we would be delighted to send you the book.

As always, we welcome your suggestions and feedback and value your trust and confidence.

Sincerely,

Byron E. Woodman, Jr.
President

Lee C. McGowan, CFP^®
Managing Director

Attachments:
3Q2014 Quarterly Client Letter.pdf  Size: 101.42 KB