BWA’s Investment Philosophy

  • Focus on controlling the controllable

    Fees, risk, liquidity, transparency, spending and taxes are controllable and have a major impact on client well-being. That’s where we spend most of our time

  • We don’t believe in magic

    BWA’s professionals have seen bull and bear market cycles. We know there’s no magic solution to investing, and that chasing fads usually has ended badly

  • We use a bottom-up approach to analyze outside investment managers, who themselves are typically bottom-up analysts of individual securities

    We believe rigorous bottom-up, fundamental analysis can yield attractive rewards

  • The goal is to make money, not just beat benchmarks

    BWA clients live in the real world, and have real bills to pay. Our goal is to make sure clients always have the money they need, when they need it

  • We are value-oriented investors

    We believe price paid is a critical determinant of the ultimate return received

  • The managers we hire are smart, capable and flexible; our preference is to retain them over the long term

    We favor broadly-mandated managers who can take advantage of changing opportunities