When we see market dislocations, we try to act quickly if we can build conviction. At the onset of COVID, we built a thesis and had the speed and flexibility to enter the markets when others could not.
As a taxable investor, we look for diversification and post-tax savings in our tax strategies. By partnering with specialists or designing our own vehicles, we try to maximize our “tax alpha” to enhance capital preservation.
“We are entering into an environment where structural changes are forcing a different approach to portfolio construction. To stay ahead of it, we need to find new levers to produce alpha.”