• I believe that equity (stock ownership) builds wealth.
• I believe that my clients are too busy to take the time to do what I do, that expertise is where my value comes into play.
• I believe that diversification reduces risk.
• I believe that over-diversification is both hazardous to a portfolio and expensive.
• I believe that a portfolio of fewer than 13 stocks is needless risk.
• I believe that bonds are not the place to take risk.
• I believe that trend chasing is a way to consistently lose money.
• I believe that there are always over-valued businesses and undervalued businesses that provide indication of when to buy and when to sell.
• I believe that time in the markets is more important than timing the markets, but that there are reasons to actively manage the asset allocation.
• I believe that Tactical asset allocation works best.
• I believe that Dynamic asset allocation works well.
• I believe that Strategic asset allocation works, but not as well.
• I believe that in a properly diversified portfolio, there should always be one thing that is down. If there is not, there is too much correlation between the assets.
• I believe that good decisions rarely look like it at the outset.
• I believe that individual investors deserve the same strategic thinking that institutional accounts get.
• I believe that no investment decision should be undertaken before I understand my clients and can articulate their goals.
• I believe that I can improve the lives of every one of my clients.
• I believe that CIBC Wood Gundy has all the tools I need to provide the best strategic thinking and process delivery to my clients.
• I believe that tax-conscious investing is the best way to insulate my clients from unexpected surprises down the road.
• I believe that endeavouring to work with my clients' other professional advisors will ultimately simplify the lives of my clients, their outside advisors and myself.
• I believe you get what you pay for; a good deal is one where everybody wins.
• I believe that an Investment Policy Statement, drafted with the unique needs of my clients in mind, is the best way to meet their objectives on an ongoing basis and in a risk-adjusted fashion.
• I believe in my investment process, built with all of this in mind.