EducationUniversity of Vermont, BA
Qualifications25 year professional and registered investment advisor
Global Diversified Conservative
My Global Diversified Conservative portfolio invests in multiple asset classes: domestic, broad international and emerging market equities, fixed income, commodities and energy, real estate and foreign exchange.
I invest in both individual stocks and ETFs, but do not use leverage. Individual assets, sectors, or asset classes that have a high degree of volatility will play little or no role. In addition, I do not pursue tactical market opportunities such as market timing or technical factors.
In this portfolio, I strive to create an allocation of asset classes that delivers a unique combination of assets that will generate the best returns for a given level of risk. I focus on keeping volatility controlled. I do not use any market timing strategies or any leverage. Holdings are typically rebalanced every six months. I try to avoid volatile individual stocks in favor of ETFs or more established stock investments.
My research focuses at two key levels: allocation of assets and asset selection within the desired allocations. My asset allocation research primarily considers correlation of investment performance over various horizons.
Once a proper asset allocation has been established, I look at each sector fundamentally. I tend to favor "category killer" companies that benefit from strong competitive barriers, have high liquidity and price transparency.
In addition to using traditional Wall Street research from the major investment banks, I conduct my own research and also purchase outside institutional research. Our sources include The Gartman Letter, Financial Times, Bloomberg, Barron’s and The Dow Theory Letter, among others.
My goal is to achieve "diversification optimization.” In my efforts to achieve it, I study the relative performance and historic correlations of different asset classes and sectors. I typically select non-traditional and uncorrelated assets in an effort to offset portfolio risk and volatility and to try to stabilize returns.
In this portfolio I typically have 15 to 20 positions. No position will usually exceed 10% of the portfolio. For this strategy, allocation rebalancing is conducted less frequently in order to maintain a conservative, longer-term discipline.
The longer investment horizon of this portfolio requires a broader sell discipline. I seek to avoid over-reacting to market or position moves that may be caused by disruptive or temporary factors.
If a position or asset class advances unexpectedly beyond its targeted investment performance, I may execute an early rebalancing via a partial reduction of the exposure. This portfolio is not expected to have the same volatility as the OCM Global Diversified Moderate or the OCM Global Diversified Aggressive offerings.
This is a conservative portfolio. Our investment choices are based on long-term investment horizons and long-term performance expectations.
Multi Asset Class
Covestor inception January 31, 2011
|as of July 28, 2014
||Manager (net of fees)
||Dow Jones Moderate
|Past 30 days
|Past 90 days
|Past 365 days
|Since Covestor inception (Annualized)
Last 365 days
|as of July 28, 2014
||Manager (net of fees)
||Dow Jones Moderate
|Best 30 days
|Worst 30 days
|Value-at-risk (95%, 1 week)
||vs. Dow Jones Moderate
||vs. S&P 500
Average trades per month 0.8
Past performance is no guarantee of future results.
Performance of the portfolio manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
Average client returns are calculated by Covestor and are composed of the average, time-weighted returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs.
Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
Transactions that are marked as "Replicable" passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual
client constraints. Eligibility for replication may change over time. Actual client investment trade activity may vary.
Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.