There is no single best approach. Instead, numerous paths to success remain available. We’ve found that superior returns result from: (i) Patience, (ii) Establishing a specific investment time horizon, and (iii) Recognizing that all investment markets are inevitably characterized by bull and bear markets, long extended periods of poor (or zero) returns, and episodic eras. Nevertheless, bountiful opportunities always exist, somewhere in the world. Opportunities are most often created by investor emotion, behavioral bias, government policy, and governmental market intervention. The greatest long-run success results from: (i) Being opportunistic, i.e., waiting patiently for the fat or more likely opportunity to come along and (ii) Aligning your portfolio with the current environment.
Investment Process
We believe that there is no single best approach. Instead, numerous paths to long-run success are available.
- Active and passive
- Subjective judgmental and quantitative rules-based
- Publicly traded securities and private alternatives
- Absolute and relative return
- Trend-following and fundamental valuation-based
- Patience
- Establishing a specific investment time horizon for each portfolio
- Recognizing that all investment markets are characterized by:
- Bull and bear markets
- Long extended periods of poor (or zero) returns
- Episodic eras
- Nevertheless, bountiful investment opportunities always exist, somewhere in the world
- Opportunities are most often created by investor emotion or behavioral bias . . . in addition to government policy or the government’s market intervention
- Following conventional wisdom and generally accepted approaches assures mediocrity (less associated costs and expenses)
- The greatest long-run success often results from:
- Being opportunistic, i.e., waiting patiently for the fat or more certain (likely) opportunity to come along . . . they always do, eventually
- Aligning your portfolio with the current environment (as opposed to fighting or denying it)
- Failure most often results from an inability to adequately limit or constrain the host of behavioral biases from which we all suffer
Public Securities
- The Julex-OCIO team of investment professionals has over 90 years of experience (collectively) designing and managing publicly traded stock, bond, cash, and real estate portfolios
- The team has unusually strong expertise in the areas of quantitative strategies, tactical asset allocation, derivatives (e.g., options-overlay), and active tax management
Alternative Investments
The Julex-OCIO team of investment professionals has over 70 years of experience (collectively) selecting institutional-quality alternative investments, e.g., limited partnership, BDC, private-REIT, and public
Building on this deep bench of talent, we maintain substantive relationships with two industry leaders in the alternatives space, iCapital (New York, NY) and PBB Capital Partners (Conshohocken, PA)
This complementary blend of internal and external expertise, provides Julex-OCIO with the ability to access the most attractive, opportunistic, and exclusive private investment opportunities
Julex-OCIO utilizes alternative investments in the following seven areas:
- Daily Access Liquid Alternatives
- Physical reinsurance
- Commodities
- Merger arbitrage
- Long/short equity
- Real estate
- Capital structure arbitrage
- Options overlay
- Interval Funds
- Physical reinsurance
- Real estate
- Private equity
- Financial market reinsurance
- Private credit
- Options overlay
- Private Debt
- Corporate
- Mortgage
- Collateralized
- Secondaries
- Long/short
- Distressed
- Restructuring
- Turnaround
- Bankruptcy
- Private Real Estate
- Commercial
- Residential
- Debt
- Equity
- Private Equity
- Primaries
- Secondaries
- Venture Capital
- Primaries
- Secondaries
- Hedge Funds
- Range of strategies spanning stocks, bonds, commodities, currencies, and derivatives
