Core Concepts

Atlas has several core investing concepts. Asset Allocation is the most influential decision that determines portfolio performance. Several factor tilts tend to contribute to portfolios having better performance than broad market indices. We’ve created a proprietary multi-factor model that incorporates what’s worked in long term investing.

Factor-Based Investing (also known as “Smart Beta”) attempts to identify specific factors historically associated with stronger risk-adjusted returns, and create index weightings with inclination toward one or more of these factors. Factor-Based Investing…
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In 1992-1993, Eugene Fama and Kenneth French published several academic papers that provided investing ideas that expanded on the classic Capital Asset Pricing Model (CAPM). They showed that over long periods of time, 90% of returns from diversified …
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Stock momentum is the concept that a stock that has performed well recently will continue to perform well, and that a stock that has performed poorly will also continue to perform poorly. Behaviorally, people tend to hold on to and buy stocks that have consistently…
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The concept of the short term reversal seems at first to be contrary to that of momentum, however the time line considered is the key difference. Stock price momentum is a persistent signal over a period of time thatexcludes the most recent one or two months.
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The size of a company is represented by its market capitalization (number of shares outstanding multiplied by market price per share). Typically, small companies tend to be more risky and produce higher excess returns compared to large companies…
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Asset allocation has the single largest impact on client portfolio returns – yet interestingly is a area where policy is set based on ‘what others are doing’ or some static ratio (e.g. 60/40 equities versus bonds) and is rarely influenced by current market conditions. At Atlas, asset allocation gets the attention it deserves.

Intelligent Tax Alpha Any sophisticated investment adviser will consider tax liabilities an important consideration of portfolio construction for taxable client accounts. However, advisers typically employ rudimentary tax loss harvesting (TLH) strategies where securities with unrecognized losses are sold and replaced with new securities. This simple approach is rooted in common sense but has several short …

TRANSACTIONS COST MATTER Of the main components within an investment process, transaction costs are the most often overlooked.  Transaction costs are commonly divided into direct costs such as commissions, fees, and taxes while indirect costs include market impact and opportunity costs.  Investment advisers widely accept that execution costs can reduce performance in a meaningful way.  …

Atlas creates conservative investment portfolios using fixed income securities. Such an allocation to individual bond securities can be part of a stand alone strategy or a client balanced account. We believe investors seeking a higher level of risk should get such exposure through equity securities, not bonds. A fixed income allocation is tailored to each …

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