Director of Research
Rockland Trust Company
What’s top of your to-do list?
Revisiting our strategic asset allocation models for our tax-advantaged, tax-aware and tax-agnostic product offerings.
What is keeping you awake at night work wise?
Are we giving our clients and advisors the tools to avoid seductive but potentially disastrous performance chasing, i.e: loading up on high yield or shifting wholly into passive strategies.
What were your bestselling funds last year?
The MFS Total Return Bond fund and the Pioneer Floating Rate fund.
Best meeting you’ve ever had?
My favorite meeting was a few years ago with the folks from Stone Ridge, discussing their approach and the rationale for investing in reinsurance (catastrophe bonds). It presented what we are always looking for: a solid return stream that is uncorrelated with the other components of our portfolio.
Worst meeting you’ve ever had?
We are very transparent and share both our models and who the other finalists are with our fund company partners. Our caveat is that you should always focus on why we should hire you versus denigrating the competition. We had a convertibles search a few years ago that pitted two managers against each other who used to operate on the same team but are now in competition. One of the managers spent almost all his time with us blaming performance on his predecessor and questioning why we would even think of having them in the mix. We tried to get him on track to talk about what they do well, but our efforts failed and so did his opportunity of winning the mandate. The meeting was sufficiently bad that it has probably hurt that firm’s efforts to win our business.
If you weren’t doing this job, what would you be doing?
I like solving problems and doing research an awful lot. Altruistically, I’d enjoy working on solving some of the educational issues facing low-income Americans to improve upward mobility.
What are your interests outside of work?
I bowl weekly and I am an occasional golfer. I have three young kids: 10-year-old twins and a six-year-old boy, so time is definitely at a premium.
If you could travel anywhere in the world, where would it be?
I’ve never been to Asia, Africa, or Australia, so for alliteration purposes I’d love to see Shanghai, Sydney and the Serengeti. My daughter has been petitioning for a trip to Paris, which I think would be a great father-daughter trip.
If we gave you $1,000, how would you invest it?
Assuming I’m swinging for the fences, we’ve built a global aggressive contrarian model that focuses on areas that are out of favor for a significant period of time. It’s very volatile and not for the faint of heart. For general purposes, in my situation I’d take a diversified growth approach that would have roughly a 70/30 stock/bond mix.
Do you have any hidden talents?
I can catch a pretty healthy stack of quarters off my elbow.