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Investment Philosophy

Fundamental Concepts

Here at Victory Wealth Management, we have designed portfolio/investment strategies with the idea that the money we are managing represents the bulk of a client's wealth or retirement assets. As such, we do not take an overly aggressive approach to managing our client's assets. Every client and every situation is different, but in most cases the money we manage has taken years for our clients to accumulate. As a result, we view our job as attempting to grow those assets in a prudent, risk-conscious manner so that the money will keep pace with inflation over the long run and, depending on the client, exceed inflation by an amount that is reasonable and appropriate. Our disciplined approach may not be very exciting, but taking big risks in hopes of big returns is not what we do - it does not fit the clientele that we seek to serve.

Precepts and Rationale for our Investment Philosophy:

Asset classes trump individual securities. As a general rule, the asset class or mix of asset classes (cash, bonds, equity, etc.) that you own has a greater impact on returns than which individual securities you own.

Risk is necessary.There are many types of risk associated with investing. In order to keep pace with inflation and taxes, however, some amount of principal risk (volatility) is necessary. When it comes to investing, there are a couple of sayings that seem to hold pretty true, “There is no such thing as a free lunch”, and “If it seems too good to be true, it probably is.” Common sense tells us that we no one will pay you a return above inflation without risk associated with it. The important thing is to understand that risk and manage it.

Diversification helps to mitigate principal risk. We believe that spreading money around in different uncorrelated asset classes, different individual securities and different fund managers smooths out volatility, keeps us from making dumb mistakes, and helps us stay the course over different market environments.

We believe that disciplined, non-heroic tactical management can boost returns and reduce risk over full market cycles. Tactical asset allocation entails making changes to the mix of asset classes as those asset classes become over- or under-valued relative to historic norms. Tactical asset allocation is a relatively long-term strategy for us.

We do not employ market timing. We regard market timing as attempting to take advantage of short-term market fluctuations in order to make a quick profit or avoid a sharp loss. We do not believe that trying to time the market is a winning strategy over the long run.

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