Investment Philosophy

• Having a long-term orientation in a world where attention spans are measured in seconds is like a superpower.
• The attractiveness of any investment is directly proportional to the price paid, the greatest asset in the world can be a terrible investment if you overpay.
• Rising tides lift all boats - long-term megatrends provide the most useful reference point when deciding where to allocate capital.
• Life is full of uncertainty so it is crucial to make decisions by thinking probabilistically and diversifying both risks and returns.
• Costs matter, make sure you know the true "all-in" cost of whatever you are investing in.

We utilize a Core and Satellite approach that aims to balance the risk and return of various assets in order to achieve the client's stated objectives.

In Traditional Portfolios, the Core consists primarily of low-cost index ETFs that provide broad exposure to mature asset classes throughout the world and create a ballast for the Satellite holdings.

Satellite holdings can be thought of as a tactical overlay, they include individual stocks, thematic investments, sector bets and event-driven ideas but tend to be more volatile than Core holdings.

Megatrends are secular trends expected to fully develop anywhere between 5-20 years in the future and provide a broad framework to find specific investments. Currently, our main areas of focus include:

• Disruptive & Exponential Technologies
• Climate Change & Resource Scarcity
• Demographic & Social Change
• Rise of the East & Emerging Asia
• New Frontiers