Equity Investing
We seek to buy growing, profitable, and well-capitalized businesses at reasonable prices. The habit of relating quality to value is central to the WCA equity investing process.
Asset Allocation
A comprehensive suite of asset allocation portfolios focused on matching investment objectives with risk tolerance. Both passive and active strategies are offered.
Fixed Income
This portfolio seeks to generate a stream of income from a portfolio of 30 investment-grade corporate bonds. The portfolio is constructed as a “ladder” with maturities spanning 10 years.
Recent Commentary
The Most Dangerous Comparison in Investing
If you own a diversified, quality-oriented portfolio, the last year has likely been frustrating. Conservative strategies—including many dividend-focused portfolios—have lagged the S&P 500, even as markets have risen sharply. That gap naturally raises questions. Why has your carefully constructed strategy trailed the S&P 500? And should you reconsider your approach? Before answering, consider what happened the last time investors faced this choice. In March 2000, a newly retired couple sat down with $1 million, a 4% withdrawal plan, and a portfolio full of the market’s biggest winners. Over the previous decade, technology stocks had made them millionaires. The future had…
S&P 500 Risk & Return Attribution (2005-2025*)
We sought to look back at twenty years data for the S&P 500 to study the source of return by company risk category. As the graph and tables that follow show, the results were eye opening.
Reading the Risk Hidden Inside Growth Expectations
When most of us think about growth, the focus is usually on how quickly a company might expand in the future and, sometimes, on recent growth. But the more important question for your portfolio may actually be not how much growth a company might deliver — it is how confident we can be in that growth. We will argue here that during risk-loving bull markets (like today), focus tends to shift to the “how much” question, and during more normal, risk-aware markets, reverts to the “how confident” question. To prove our point, we will offer three charts. The first chart…