A skilled mariner can sail no matter which way the wind blows.  Often one must tack to sail upwind. The same is true for money managers.

Whether markets are bullish or bearish, whether a sector is hot or not - somewhere in the world the tradewinds are blowing and there’s a way to make money.

We don’t think it’s acceptable for a manager to have a bad year because their style was “out of favor”, or to marginally outperform poor markets and brand it a success.

Absolute return is the only thing that should matter - how much money did we make you this year? ETFCM believes that managers are paid to deliver consistent results. Like a merchant ship, we go wherever and whenever we must to create a return for our benefactors.

We believe so strongly in our ability to produce superior returns that our hurdle rate is one of the highest in the industry so we don’t participate until we deliver on our performance promise.