When prospective clients arrive at my door, they want to believe that I have all the answers. In these first meetings, however, I ask folks to first put their faith in the markets, before putting their faith in me. That surprises some, but when they come to understand my investment approach, my request begins to make sense. I am not an active manager. Rather than promising that I will always beat the market, my investment philosophy is grounded in a passive, or more accurately, an “indexing with a value-added” approach.

STRADDLING THE ACTIVE/PASSIVE DIVIDE

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