A Disciplined Approach to Portfolio Management
A disciplined process is imperative to successfully achieving your investment objectives while providing excellent risk adjusted returns.
We accomplish this by implementing the following:
Click on the aspects of our philosophy on the graphic to the left to learn more about Capstone's commitment to disciplined portfolio management.
We begin our research with a “top-down” look at global and regional conditions. A “bottom-up” process is then used to select securities that meet the value criteria.
All investments in a portfolio are carefully evaluated and selected for their potential to maximize return for the level of risk taken. We believe it is important to be realistic about returns to avoid stretching risk.
Even with the best skill and experience, it is not possible to know with certainty what will happen next. Therefore, management of risk is best accomplished through diversification. We use both traditional and non-traditional assets to provide true diversification within our pools and client portfolios.
We are patient and employ a long term perspective. We recognize that the fear of trailing short term performance can prompt decisions that cost return in the long run.
We know that the fees and costs within a portfolio must be minimized as they can seriously erode long term performance. We strive to provide our clients with excellent value and transparent reporting to ensure accountability to this principle.
We buy on sale and sell when our target price has been met. We are value investors. We believe that the price paid for an asset and its starting yield is very important to long term performance.
We believe the Bible has investing principles that are applicable to everyone. In fact, our understanding of a biblical philosophy towards our finances is far more encompassing than simple stock screening, or traditional “ethical investing”. Some principles we apply regularly to our advice and research include (but are certainly not limited to):
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