Top-down market risk analysis Risk manage volatility- we view cash as an asset class Use hedging techniques in periods of elevated market risk Global investment perspective Relative strength analysis influences buy and sell decisions Strive to achieve correct balance of Total Return to Growth based on clients risk tolerance and desire for income Total Return portfolios have a fundamental value bias to achieve greater risk/return profile Employ sell discipline that triggers extensive re-evaluation of position after preset gain/loss percentage is surpassed