Flexible approach - will look at ALL asset classes.
We worry top-down, but we invest bottom-up
Typically, we make money when we buy things. We count the profits later, but we know we have captured them when we buy the bargain.
Hold cash when opportunities are not presenting themselves.
The cost of performing well in bad times can be relative underperformance in good times.
Do not trust financial market risk models. Despite the predilection of some analysts to model the financial markets using sophisticated mathematics, the markets are governed by behavioral science, not physical science.