3.3

Managing Risk

Some outsiders might say we have an obsession with risk management, and we’d have to agree. We believe a key difference between firms that survive and thrive over the long run and those that don’t is risk management. A guiding principle in our approach is that risk and portfolio management are not separated: every one of us is a risk manager. We’re guided by our Risk Committee, which evaluates risk and manages the allocation of capital among strategies.

The Risk Committee is made up of: