The Importance of Judgment
There are many attributes worth considering in the evaluation of investment management firms, but none is more important than the ability to exercise sound judgment. We believe that the historical record of the Cimarron funds is credible evidence of our ability to represent our clients' interests in an appropriate and beneficial manner. Please consider the following important attributes associated with our firm:
• “Take calculated risks. That is quite different than acting rash.” — General George S. Patton
Every investment, without exception, entails risk. We have a particularly good understanding, appreciation, and respect for the perils of risk, honed from a diverse set of career experiences. Our ability to discern the degree of risk associated with competing investment options is helpful to us in the pursuit of our goal of producing equity-like returns over a market cycle — without experiencing the full force of market downturns that cripple many investors.
• “If you don’t know whose side someone is on, it’s probably not yours.” — Warren Buffett
We are true partners with our investors! We spend long hours devoted to our business, with no other professional distractions. And we have significant personal capital invested in the same funds we manage for our clients. We share the same risks and rewards as we deliver to our clients.
• “It takes less time to do a thing right than it does to explain why you did it wrong.”
— Henry Wadsworth Longfellow
We provide our clients with full transparency. The best and longest-lasting relationships result from an investor making a fully informed decision, so we are happy to share with our clients our investment process, due diligence procedures, communication practices and substantial information about our underlying managers.
Understanding risk, a devotion to the business with a proper alignment of interests, and full transparency are critical ingredients to a successful partnership.