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Investment Philosophy


The basis for Grand Wealth Management’s investment recommendations is the Nobel Prize winning investment strategy known as Modern Portfolio Theory. Grand Wealth Management also respects the well-publicized studies revolving around efficient markets, the long-term performance histories of value stocks versus growth stocks, small capitalization stocks versus large capitalization stocks, and passive versus active management. Grand Wealth Management objectively applies this historical and ongoing research to construct portfolios for relative and absolute performance. More importantly, each client’s portfolio is designed to meet that client’s stated objectives.
Grand Wealth Management adheres to the following investment principles and beliefs:

Investment Strategies

We emphasize asset class allocation and minimum trading to harness the power of the normal movements of the market while minimizing investment costs and taxes.

1.       Markets are efficient. Security prices reflect available information.
2.       Structure determines performance. Asset allocation along size, value and market exposure dimensions primarily determines the results of a broadly diversified portfolio.
3.       Risk and return are related. Exposure to meaningful risk factors determines expected return.
4.       Diversification is essential. Diversification reduces uncertainty; concentrated investments add risk with no additional expected return.
5.       Costs and taxes matter. Expenses and taxes reduce net returns.
Our commitment to this academic-based investment approach has led us to recommend indexed and passive mutual funds for most investors; the use of personal securities and actively managed mutual funds is generally not advised. Grand Wealth Management typically recommends that clients invest in low-cost institutional asset class mutual funds advised by Dimensional Fund Advisors (DFA) or other fund companies that have low operating expenses, low portfolio turnover, below average capital gains distributions and a fundamental investment objective of investing primarily in a particular asset class.

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