Timeless Commentary — A collection of writings that unlay the blueprint of our philosophy and discipline.

January 2024

Investing Should be a Marathon, not a Sprint

In the October (2023) edition of The TANDEM Report, we discussed Tandem’s two pillars: 1) our desire to deliver a more consistent, repeatable, and less volatile investment experience and 2) our practicing of the discipline of buying low and selling high. To...

By: Benjamin "Ben" Carew, CFA
October 2023

Two Pillars

The University of Virginia men’s basketball coach Tony Bennett has built a successful program in Tandem’s original hometown of Charlottesville, Virginia. Part of the key to success for the team has been Bennett’s “five pillars”: humility, passion, unity, servanthood, and thankfulness.

By: Benjamin "Ben" Carew, CFA
July 2021

Sometimes Analogies are Just Easier to Understand

The U.S. stock market continued its relentless move higher. Having posted its best 12 month return in more than 30 years last quarter (56.36%), the S&P 500 Total Return Index cooled off only slightly, recording a 40.33% return for the 12 months...

By: John B. Carew
October 2020

More Versus Less is Better Than In Versus Out

Recency bias is examined while comparing the correlation between the market and the economy. The question of when to get in or out of the market is often examined by investors - the goal is to avoid binary outcomes to produce less...

By: John B. Carew
July 2020

The Fox and the Hedgehog

Tandem’s “One Big Thing” is to act as a hedgehog – having patience in a volatile environment. It can be tempting to move money around for short term gain but staying the course will pay off in the long run.

By: John B. Carew
October 2019

Risk

In the realm of investing, volatility brings opportunity. Weighing risk vs. reward is an essential component of successful investing.

By: John B. Carew
April 2019

The Dividend

Consistent repeatable growth in earnings can sustain consistent, repeatable growth in dividends. In a marathon, consistency is a hallmark of success. Some may enjoy the excitement of being the hare, but we all know that the tortoise wins the race.

By: John B. Carew
January 2019

This is How Cash is Supposed to Work

The well-known matter of buying low and selling high is often oversimplified. When dealing with volatile markets, exercising quantitative disciplines increases the likelihood of profitable returns.

By: John B. Carew

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