Between the two of us, we spent over three decades on Wall Street. We worked relentlessly to establish a track record of performance and personal service for clients that we did not believe could be found anywhere else. We made two promises to each of them along the way. One, communication would be unfiltered and clear. Two, our motivation would be driven by managing money for them as we do for ourselves. Compromising either of those two, they knew, would be a deal-breaker for us.

Neither tradition should be as rare as they have now become in this industry. Describing exactly what we are thinking and doing, including how we handle mistakes, is a responsibility but also an exercise we genuinely enjoy. Explaining how our skin is in the game never seemed like a conflict of interest to us at all. We wonder why anybody in this business would not put his own money in his best ideas. Investing clients’ money as we did our own offered little doubt as to where our time was spent.

We believe the true test of a man’s honor is how much he will risk to protect it. We proved our sincerity and where our loyalty will always be when we walked away in 2006 as Senior Portfolio Managers at the same firm we each began our careers at. Plenty who know the industry questioned how we could leave behind all our stock and options and instead reach into our pockets to launch this firm. But for those who knew us best, it was no surprise at all. We always keep our promises. There were no more clients, only partners.

Leaving Wall Street did not erase the deepest gratitude we still have for the two guys who gave us a chance when that too was a risk for them. They were part of a different Wall Street though, where fewer rules worked better because there were more principles instead. Make no mistake, we still hold in the highest regard plenty of professionals at major Wall Street firms, many of whom have extended the finest compliment we can receive – hiring us to manage their own money and for many investors they advise.

We had to keep one more promise, this one we made to each other as we watched our little kids look up to their dads. We wanted something that would last a lot longer than money – for our sons and daughters to be proud of us. We wanted to teach them how to be inspired not hired. We wanted to teach them about the courage to get lost from the crowd on purpose. In an age where we believe the notion of entitlement presents our biggest risk for the economy and for parents, we wanted to show them that the ultimate business plan is to rely on yourself, accept complete responsibility, and earn trust. We decided the most important gift we could possibly give them happens now, not later, by showing them how to love what we do every day.

To our partners, your trust is our motivation.  Knowing you personally is our privilege.  We thank you for each, every single day.

To the friends, colleagues, and referrals you have introduced us to, or passed our private monthly letters along to - your e-mails and notes add to our enjoyment significantly, thank you.

Our ultimate goal is to never finish.

"Entrepreneurial judgment cannot be bought on the market. The entrepreneurial idea that carries on and brings profit is precisely that idea which did not occur to the majority. It is not correct foresight as such that yields profits, but foresight better than that of the rest. The prize goes only to the dissenters, who do not let themselves be misled by the errors accepted by the multitude. What makes profits emerge is the provision for future needs for which others have neglected to make adequate provision."