Q1 2024 Investor Letter

Titan Flagship, Opportunities and Offshore strategies all outperformed their benchmarks in the first quarter, while our Index Investing and Alternatives strategies produced mixed results.

Year-to-date, major U.S. indices are all well into the green as the S&P 500 was up 10.6% and the Nasdaq 100 was up 8.7% over the first quarter.

You can find the full Q1 Investor Letter here.

Our advice from the beginning of the year hasn’t really changed. As long-term investors, time is advantageously on our side.

As such, we believe you should:

Ensure your cash/liquidity is in a great place. We developed Smart Cash to ensure that you’re always in our highest-yield cash vehicle, full stop. If interest rates do change from here (which is the expectation), you won’t have to worry about chasing rates - we’ll do it for you.

Dollar-cost average into the market using recurring investments from Smart Cash into your desired mix of Managed Stocks, Index Investing, and Alternatives. The goal is twofold: (i) mitigate the risk of mistiming the market, while (ii) using the market’s expected volatility to your advantage. After all, we expect the stock market’s long-term annualized return to be above 6% (the highest available yield on Smart Cash*).

Jack, our Investor Relations Lead, is available to assist you with a personal allocation recommendation if you need help.

Clayton Gardner

Co-CEO & Chief Investment Officer