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2020 Q1 TAM Portfolio Update: The Beauty and the Beast

So How Did We Do?

The answer: It’s all relative…

In the chart above we have a representation of Tamalpais Asset Management’s (TAM) three main portfolios compared to the S&P 500 and a basic 60/40 (equity/bond) portfolio. It is clear to see that TAM portfolios outperform and are less volatile than common portfolio benchmarks.

Year-to-date performance of TAM’s three primary portfolios are in the double digits. The difference between investing with TAM or in the S&P 500 is listed below. The outperformance is substantial and less volatile:

Tamalpais Option Advisory Services (TOAS)

Stay Invested and Stay Protected

As a wealth manager TAM’s goal is to provide clients with the best risk adjusted return that the market will allow. TAM relies on a core portfolio allocation and a number of portfolio option strategies to manage a client’s systemic and idiosyncratic risk. By coupling our Tamalpais Core Portfolio (TAM Core) with active and passive option strategies TAM creates a superior portfolio tailored to a client’s needs. The events of the past month remind us of how dangerous investing can be if you are not prepared. The unimaginable becomes the reality and our new normal.

Option Overlay Strategies

• Tail Hedging - TCPP

• Concentrated Single Stock Hedging

• RSU Hedging

• Opportunistic Value Add

• Bespoke Portfolio Risk Mitigation

Stay invested. The strategies seek to capture a substantial portion of positive U.S. equity market gains (no FOMO).

Stay protected, crash protection, during sudden substantial market declines, the put-protection strategy is designed to generate positive returns to reduce and potentially offset the negative returns from equity exposure. We cut off the left long tail.

Cash Returns during market declines, profits are realized and reinvested to the TAM Core portfolio facilitating enhanced returns as the equity markets recover. TAM’s clients are buyers when others are forced to sell.

Dynamic Risk Management. Options are dynamically managed to take advantage of market conditions and favorable option pricing.

IMPORTANT: This message contains confidential information intended for a specific individual and purpose and is protected by law. Any review, use, distribution, disclosure, alteration, copying, transmittal or re-transmittal by persons who are not intended recipients of this email may be a violation of law and is strictly prohibited. The information expressed herein may be changed at any time without notice or obligation to update. If you are not the intended recipient, please permanently delete all copies of this e-mail and any attachments from your computer system, destroy any hard copies, and contact the sender or Tamalpais Asset Management, LLC at (415) 722-2188. This message and any attachments are for information purposes only and should not be construed as a sufficient basis on which to make an investment decision and should not be regarded as an offer to sell or a solicitation of an offer to buy any financial product. Any information regarding trading performance must be considered in conjunction with the appropriate disclosure documents. Tamalpais Asset Management, LLC reserves the right to monitor all e-mail communications through its networks. Past performance is not necessarily indicative of future results. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses.

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