I believe everyone has a gift. Something they do well so naturally they almost can’t help but do it. As a financial services professional and a psychologist, I have created a distinctive career based on helping people identify their own distinctive talent. I call people who have discovered their innate gift “the naturals.” The naturals operate closest to what they are best at doing and who they really are.
It took me a long time to discover my own natural abilities. At first, like many people, I had no idea what I wanted to be when I grew up. At the age of 12, I wanted to be a race car driver. Later, after earning a BA in economics from Lafayette College and an MBA from New York University, I successfully pursued careers in transactional, client-driven businesses such as leveraged finance (Chase Manhattan Bank), talent development in investment banking (Goldman Sachs), investment management (launching four funds of funds for a family office) and management consulting (Keilty, Goldsmith & Co., now Leadership Research Institute). After earning a Ph.D. in Psychology from the University of Florida, I built my own consulting practice focused on leadership, talent management, career development and succession planning.
Psychology is a slow-paced enterprise (too slow for the race car driver in me), while Wall Street and business are filled with aggressive people who quickly need to glean the “so what?” from any situation (my perfect world). At the intersection of psychology and business, I have found where I can be a natural. And what I am naturally good at is this: seeing swiftly what is working or not working, what needs to be done and who the best people are to do it. My work often centers on clarity of identity: discovering where individuals excel and creating the conditions in which they can do their best work.
For many years, I thrived in my own consulting practice. But something was missing. As a consultant, one is never on the hook for long-term results. Even in multi-year engagements, the relationship is purely contractual: one gives advice, collects a fee and moves on to the next assignment. My work with Daruma started as a consulting engagement and eventually, happily, morphed into my current role.
I immediately gravitated toward Daruma, Mariko and her team, and the firm’s focus on managing high-conviction portfolios. Managing money this way requires heightened efficiency, intensity of focus and constant vigilance. At Daruma, I am responsible for business strategy, talent development and day-to-day operations ― and a proud member of a team of people who do what they do well so naturally they almost can’t help themselves.
Past performance is not a guarantee of future results. Many factors affect performance, including changes in market conditions and interest rates, as well as other economic, political and financial developments. You should not assume that investment decisions we make in the future will be profitable or will equal the investment performance of the past.
The portfolio is actively managed, so holdings, sector weightings and other portfolio characteristics may have changed since the date shown. They should not be considered recommendations to buy or sell any security or of a particular allocation. You should not presume that any holding or allocation shown has been or will be profitable. The information in the Small-Cap and SMid-Cap commentaries supplements the related Composite Presentations available on our website (click here for the Equity Composite Presentation: Small-Cap, here for the Equity Composite Presentation: SMid-Cap).
The information in each commentary is current as of the date of the commentary, and may have changed by the time you read this. Daruma has obtained some of the information in this presentation from third-party sources we believe to be accurate. However, we cannot guarantee the accuracy of such information.
Statements in any commentary that were not historical facts at the date of that commentary reflect our opinions, beliefs or expectations as of that date. Subsequent events will have, or may yet impact whether they prove to be correct.
Charts included in any commentary are included to demonstrate certain information or conclusions. You should not make any investment decision relying only on these charts.
The appropriate comparison benchmark for the Small-Cap Equity strategy is the Russell 2000. The Russell 2000 includes approximately 2000 of the smallest U.S. common stocks based on a combination of their market cap and current membership in the Russell 3000. The Russell 2000 Value Index includes those Russell 2000 Index companies with lower price-to-book ratios and lower forecasted growth values, while the Russell 2000 Growth Index includes those with higher price-to-value ratios and higher forecasted growth values.
The appropriate comparison benchmark for the SMid-Cap Equity strategy is the Russell 2500. The Russell 2500 includes approximately 2500 of the smallest U.S. common stocks based on a combination of their market cap and current membership in the Russell 3000. The Russell 2500 Value Index includes those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values, while the Russell 2500 Growth Index includes those with higher-price-to-value ratios and higher forecasted growth values.
The Small-Cap and SMid-Cap Equity strategies are concentrated strategies that are not managed to a benchmark, so there are material differences in characteristics, such as the number of holdings and sector and industry weightings. In addition, benchmark performance does not include any fees or expenses. Because of these differences, benchmarks should not be considered a completely accurate comparison.