About

Welcome to Asymmetric Investment Returns, a resource for active portfolio management. The resource center and posts on this blog will be in support of the absolute return objective and portfolio management strategies intended to create a return profile of total return that exceeds downside risk. This website is not investment advice.

These topics include:

  • Active Risk Management
  • Active Portfolio Management
  • Asymmetric Investment Returns
  • Asymmetric Risk/Reward Profiles
  • Behavioral Finance and Behavioral Economics
  • Investor Behavior and Investor Sentiment
  • Global Tactical Asset Allocation
  • Global Macro Investment Strategies
  • Quantitative Research
  • Quantitative Trend Systems
  • Systematic Trend Following Trading Systems
  • Systematic Relative Strength and Momentum
  • Technical Analysis of Price Trends
  • Trading Psychology

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    On the other hand, topics may also include beliefs and evidence highlighting the misuse, misrepresentation, and misinformation of the standard view of asset allocation, the Brinson study, Modern Portfolio Theory, Rational Market Hypothesis, and the Efficient Market Hypothesis. That is, the blog will discuss useful beliefs as well as things we should avoid.

    The commentary posts are written primarily written by Mike Shell. Mike Shell is the Chief Investment Officer and Portfolio Manager responsible for all portfolio management decisions in Asymmetry Investment Program® at Shell Capital Management. Shell Capital Management is an investment manager registered federally with the Securities and Exchange Commission under the 1940 Investment Advisors Act.

    Mark Twain’s mother once said:

    “I only wish Mark had spent more time making money rather than just writing about it”.

    Today there is no shortage of writings about the capital markets and portfolio management. Many who write about money and the management of it provide no evidence to suggest their beliefs are useful. That is, they do a lot of talking and writing, a lot less doing. We are left to wonder if they have good results. The author of this blog is no Mark Twain. To be sure, we encourage you to review the Asymmetry Investment Program’s performance composite. Though past performance doesn't assure the future, it is what it is. If you are going to read the missives of someone, we suggest it may be useful to have some idea of the track record behind it.

    Nothing on this blog constitutes investment advice. By reading this blog, you agree to have read the dislaimer. If you seek personalized investment advice or portfolio management, you may contact us.

    There is no guarantee that active asset management or any strategy will be successful. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results.