"You can turn the clock to zero, honey
I'll sell the stock, we'll spend all the money
We're starting up a brand new day
Turn the clock all the way back
I wonder if she'll take me back
I'm thinking in a brand new way
Turn the clock to zero, sister
You'll never know how much I missed her
Starting up a brand new day
Turn the clock to zero, boss
The river's wide, we'll swim across
Started up a brand new day"
I'll sell the stock, we'll spend all the money
We're starting up a brand new day
Turn the clock all the way back
I wonder if she'll take me back
I'm thinking in a brand new way
Turn the clock to zero, sister
You'll never know how much I missed her
Starting up a brand new day
Turn the clock to zero, boss
The river's wide, we'll swim across
Started up a brand new day"
"Brand New Day" by Sting
Today I'm starting up a "brand new day"!
I’ve been a professional money manager for the last 25 years and have seen a lot, but the events of the last two years have truly illuminated for me a real weakness in the advice being given to many individual and institutional investors – “buy and hold”. Buying and holding the Standard & Poor’s 500 over the last ten years would have gotten you a nice 0% return, and a few ulcers. Over my career, I have seen up years and down years. I have come to understand that being in the right global asset classes at the right time is far more important to total returns than picking individual stocks or bonds. Fortunately, with the advent and proliferation of ETFs the task of investing in exactly the asset class of choice is reasonably easy and inexpensive.
Last year, our global economy neared a complete financial meltdown, and governments and central banks around the world have spent trillions of dollars fighting Great Depression II. We may have won that battle, but the future holds much uncertainty as we figure out how to pay the piper with money we don’t have.
Rockhaven is really an outgrowth of what I am doing for my family and myself. Most investors I’ve met have the same long-term goal…to preserve and increase their purchasing power. I believe that this can only be done by continuously evolving with the markets, to be in harmony with what is working. The future is always unknown, but one thing we can be sure of is that “buy and hold” is dead; instead risk management via disciplined asset allocation, or, if you prefer a Global Tactical Asset Allocation strategy is the way of the future.
I have prepared all my working life to implement this strategy, and I am now at a personal and professional place to be able to implement it for my family and others. I am very excited for both my future and that of my investors. If you would like to discuss this further please call me at 412-260-7917.
Chris Wiles, CFA
www.rockhavencapital.com
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” - Charles Darwin
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