Bull|Bear Investment Process
WBI’s Original Active Risk-Managed Investment Process
Power Factor Security Selection
Dynamic Trailing Stop
WBI’s active investment process seeks to manage risk to capital, unleash the benefits of compounding, and grow capital efficiently through good and bad market cycles. Our Bull|Bear Strategies combine our time-tested, multi-factor security selection models with our advanced dynamic trailing stop process to protect capital for conservative or moderate investors.
Trend Switch Investment Process
Advanced Market and Econometric Trend Signals
WBI has utilized domestic stock and fixed income trend models in our quantitative management process for nearly three decades. The Trend Switch Strategies are designed to give moderate investors simple solutions to optimize bull and bear market cycles.
Power Factor Investment Process
WBI’s Power Factor Security Selection Without the Stops
Power Factor Security Selection
Active Quarterly Rebalancing
Time-tested over 30 years, WBI’s multi-factor security selection models have been designed to develop the most powerful factor combinations to find the strongest stocks to buy. Our Power Factor Strategies unleash the power of our rigorous security selection to maintain a fully invested approach to maximize return through better security selection for aggressive investors.
Past performance does not guarantee future results.This is not an offer to buy or sell any security. No security or strategy, including those referred to directly or indirectly, is suitable for all accounts or profitable all of the time and there is always the possibility of loss. You should not assume that any discussion or information provided here serves as a substitute for personalized investment advice from WBI or any other investment professional. If you have questions regarding the applicability of specific issues discussed to your individual situation, please consult with WBI or your chosen professional advisor. This information is compiled from sources believed to be reliable, accuracy cannot be guaranteed. WBI’s advisory operations, services, and fees are in the Form ADV, available upon request.
The Bull|Bear strategy accounts are subject to investment risk, including the possible loss of principal, and include both Traditional strategies and Tax-Smart strategies. The ETFs in the Tax-Smart SMA program accounts may invest in other ETFs, mutual funds, and Exchange-Traded Notes (ETNs) which will subject the account to related additional expenses of each, and the risk of owning the underlying securities held by each. Investment risks may include but are not limited to: market, economic, political, interest rate, currency exchange, leverage, liquidity, credit quality, model, portfolio turnover, trading, REIT, high yield stocks, nondiversification, concentration, commodities, options, new fund, and client specific restrictions. WBI’s Passive ETFs are not actively managed and WBI does not attempt to take defensive positions in declining markets. The allocation to ETFs can provide increased tax efficiency over traditional SMA approaches. We believe the structure of the Tax Smart Program provides several benefits in addition to the potential for increased tax efficiency. However, Clients should understand that tax-qualified accounts, such as IRAs, do not benefit from any additional tax efficiencies of the “Tax-Smart” structure. Please consult with a tax professional prior to making investment decisions.
WBI has an inherent conflict of interest in investing in or recommending Affiliated ETFs as follows: 1) WBI and affiliates receive management fees from Affiliated ETFs. To avoid receiving two layers of management fees in situations where clients invest in Affiliated ETFs through SMA and Platform accounts, WBI will either: (i) waive the management fee at the account level; or (ii) credit the management fees paid by the Affiliated ETFs to WBI and its affiliates with respect to an account’s investments in Affiliated ETFs against the account-level advisory fees the account owes WBI, and 2) WBI’s affiliated broker-dealer, Millington Securities, Inc., receives compensation (including payment for order flow, commissions or other fees) for transactions effected on behalf of Affiliated ETFs. Trades WBI places through Millington will be subject to WBI’s duty of best execution and applicable law.
The process by which securities are selected and assets are allocated within WBI Power Factor SMA strategies, which are aggressive, will typically occur no more frequently than quarterly, which may cause accounts invested at different times during a quarter to reflect implementation of the strategies on a different basis than other accounts managed to the same or a similar strategy. The accounts may invest in and hold securities which are declining in value for an extended period of time, typically without taking a temporary defensive position, as part of the normal operation of the investment strategy.
During periods of high market volatility, a significant amount of holdings in the Trend Switch Strategies may be sold, resulting in a large allocation to cash or cash equivalents. At times, market conditions and the particular Portfolio Strategy, may call for an allocation of 100% to cash or cash equivalents. If the portfolio strategy invests all or a substantial portion of its assets in cash or cash equivalents for extended periods of time, including when it is investing for temporary defensive purposes, it could reduce the strategy’s potential return as the limited returns of cash or cash equivalents may lag other investment instruments in a strong market.