What do you enjoy most about wealth management?
I have been very fortunate in my career to develop my skills and core principles around the investment aspects of wealth management. During my tenure as an investor, I have learned three key principles the hard way. First, invest with a margin of safety in mind, understanding your worst case scenario. Second, avoid over paying for an asset, as it typically results in a permanent loss of capital. Third, have a long term discipline, unlike many in the industry. Implementing these core principles has given me the joy of earning the trust and respect of colleagues and clients, which is a difficult thing to do in such a competitive landscape
What’s the biggest challenge?
When investing, hard work, communication and patience are key aspects of experiencing long term success as an investor. Unfortunately, as expressed by John Keynes, “The market can stay irrational longer than you can stay solvent.” Generally, investors’ decisions in the industry are based on short term expectations, given the way they are compensated. The benefit of having a long term horizon, is that very few investors in the industry think that way. Thinking long term puts me at an advantage. However, in the short term the investments are typically irrational. Irrational investments can put anyone’s patience to the test, and that is the biggest challenge that I have faced and will continue to face.
What do you love most about being part of Aspiriant?
I love the culture at Aspiriant. The energy, the intellect, the communication and the willingness to work hard are great cultural attributes. What I love most about Aspiriant is the attention that is given to serve the interest of the client. Aspiriant is the only company I know that has made the client interest a top priority, even above shareholder and employee interests
What quality of yours makes you best suited to what you do?
I enjoy learning and, as a data geek, I use history to learn. I almost always make the assumption that every investment idea can be played out using historical data. History, for the most part, is free and available and, if used correctly, it can be a powerful tool.
How should people think about their wealth?
When a person has money to invest, he or she should spend most of their time learning about how much money the investments can potentially lose them rather than how much the investments can potentially make them.
What do you love to do outside of work?
I enjoy spending time with my wife and two children and I do my best to be involved in as many aspects of their lives as possible. I really can’t get enough of them. Additionally, I swim in the master’s program in the morning before work. It is a great way to charge up my brain cells.
What personal accomplishments are you most proud of?
I picked up swimming for the first time when I was 39 years old. It took me over a year to go more than 10 laps (25 yards) without stopping. Within three years of my swimming career I was able to swim 100 yards under a minute and swim for a long time without stopping.
Education and accreditations:
- B.S. in Business, University of Colorado
- MBA, Suffolk University
Luis joined Aspiriant in 2015 as Director of Investment Strategy & Research. As Director, Luis is primarily responsible for the firm’s Capital Market Expectations (CMEs) use for asset allocation, portfolio construction, and risk management. He has over twenty years of experience in investment management.
Prior to joining the firm, Luis was a senior investment director at Abbot Downing which manages approximately $38 Billion across a wide-range of public equities, fixed income, hedge funds and private funds. In that role, Luis had primary responsibility for 6 clients and $1.5B in assets under management. Prior to joining Abbot Downing, Luis was a principal and managing director of research for Bitterroot Capital Advisors, LLC. His investment career included positions at Laurel Management Company, LLC/Hall Capital Management, Grantham Mayo Van Otterloo and Co. LLC (GMO) and with the Harvard Management Company in San Francisco and Boston. During his career, he provided investment management solutions to high-net-worth individuals and nonprofit organizations with assets under management in the range of $1 to $10 billion. Over the years, he developed a forecasting model and risk management tools that today play an important role in constructing and optimizing portfolios.
Luis earned a master’s degree in business administration from Suffolk University and a bachelor’s degree in international business from the University of Colorado.
Luis is actively involved with Masters Swimming and participates in his children’s school fundraising and community activities.
Luis and his wife, Kristan, are raising their two children at their home in Orinda, California.