Investment Philosophy
Markets Are Efficient
Markets work, and for investment purposes, assets are fairly priced. Each day, thousands of the most intelligent people on Earth work long hours in an attempt to find stocks or bonds that will outperform the market. Winning often represents more luck than skill. Betting your financial future on any investment advisor's ability to select a few winning stocks is a loser's game. Our core belief is that the markets are "efficient", meaning prices reflect the knowledge and expectations of all investors. Though prices are not always correct, markets are so competitive that it is unlikely any single investor can routinely profit at the expense of all other investors.
Diversification Reduces Risk
Diversification is the antidote to uncertainty. Concentrated investments add risk with no additional expected return. Diversification is the most important component in helping you reach your long-range financial goals while minimizing risk.
Risk and Return Are Related
Priced risk factors determine expected return. Bonds historically have a lower level of risk than do stocks. Bonds also have a lower level of historical return. Stocks demand higher levels of return based on their higher risk levels.
Structure Explains Performance
Proper asset allocation is the principal determinant of returns in a broadly diversified portfolio. Voyager Capital Management's approach to investing is to combine the broad diversification and low cost of passive investment strategies with proper asset class exposure among multiple market sectors. Our strict, disciplined approach removes the emotional aspect of investing, and focuses on the truly important characteristics of your portfolio.
Costs Do Matter
It is our pledge to bring the most cost effective investments and services to each client. Every fee that is paid directly reduces investment returns, and mutes the long-term growth of any portfolio. Our investment selection process attempts to maximizes your returns by minimizing your cost of investing. Management fees, expense ratios, 12(b)-1 fees, mortality and expense charges, portfolio turnover, transaction costs, loads, and a host of other fees all work ceaselessly to reduce the value of your investments. At all times, we strive to reduce or eliminate the unnecessary fees from your portfolio, providing increased returns at a fraction of the cost of other firms.
