Founded in 2010, CSCM is an independent Registered Investment Advisor (RIA). We manage wealth, portfolios and discrete strategies for private and institutional asset owners. Fiduciary investment advice, counseling and portfolio management is our only business.
Whether wrapped in the service package that supports private or institutional wealth, investing is ultimately about getting money into the markets, into the appropriate market exposures, in the appropriate weights for the expected time horizons and the determined risk tolerance. While complexity and costs are the enemy of a good outcome, successful investing is neither simple, easy or static.
Capturing market returns as efficiently as possible is the essence of optimized, fiduciary investing. Any departure from that simple premise is a step towards greater cost, greater active shortfall risk and greater uncertainty.
More of the good stuff, less of the bad stuff—the aim of all investors. The question is how best to achieve that: through policy, market capture & portfolio structure or through numerous, continual active decisions. Our approach is to build strategies that deliver those positive return asymmetries by implementing a structural, rules-based hedge on single-market or globally allocated portfolios and avoiding the self-inflicted wounds of active management, which in the final analysis is expensive, unreliable, and destined to disappoint.
It is axiomatic that clients earn returns net of all fees and costs. In balancing the dynamic tension between client net returns and our own corporate economics, we deliver our services at the lowest possible cost, so our clients can maximize their net returns.
The result of our structural, hedged approach is structurALPHA—our suite of single market and globally allocated hedged strategies that help both private and institutional investors achieve their desired outcome with greater certainty and less risk at a very low-cost. Keeping fees and costs low helps our clients earn better net returns.
From floor trading and market-making in the equity and currency options markets in Philadelphia in the 1980s to institutional equity portfolio management in the 2000s, we have learned a thing or two in the nearly 40 years we have been operating in the capital markets. And we’re still learning. The aim is to bring the best practical applications of ever-evolving investment theory together with the timeless investment truths—new and old—to bear on behalf of our clients.
Principal and Chief Investment Officer
After eighteen years as an equity analyst and portfolio manager (1992-2010) for a boutique long-only equity manager and eleven years as an equity and foreign currency options trader/market maker on the floor of the Philadelphia Stock Exchange (1980-1991), Tom founded Clothier Springs Capital Management in 2010 to build strategies that combine the superior return and risk profiles of options-based hedged investing with the well-known advantages of passive investing. The result is the suite of low-cost, transparent, rules-based, hedged strategies CSCM offers in managed ETF portfolios.
Carla brings considerable organizational and administrative skills to her role as office manager at Clothier Springs Capital Management. Duties include compliance, scheduling, client reporting, website maintenance and graphic design.
In addition to raising four children, Carla enjoys racquet sports, serving as tennis chairman at the Martin's Dam Swim & Tennis Club and cooking.
Technology, Trading & Social Media
After attending college on an athletic scholarship for basketball, Sean played in Europe and South America before coming home. He is responsible for maintaining the technology infrastructure at Clothier Springs Capital Management as well as directing our social media and communications effort. He also assists on the trading desk.
Sean enjoys numerous activities including basketball, golf and the performing arts. He plays electric guitar, bass and acoustic guitar in several bands in his spare time.