Greetings! We hope this finds you and yours doing well as we close out August and head into the Labor Day holiday weekend.
First, we want to share the exciting news that Peter Jacobs has joined the Tschetter Group team! Peter adds significant strength and depth to our investment management expertise, bringing his seasoned hand and nearly 30 years of portfolio management experience to the effort. As Senior Portfolio Manager, he will be responsible for our core public equity strategy and help us continue to build wealth for clients through long-term ownership of good companies. Peter’s rigorous investment process and philosophy align well with ours, and he’s already hit the ground running.
After graduating from University of Cincinnati with an aerospace engineering degree and working in his early career on classified programs for Boeing, Peter decided to go back to school to pursue a business degree and earned his MBA from the Booth School at the University of Chicago. Shortly thereafter, he joined the equity research department of Ragen MacKenzie in 1994 and quickly rose through the ranks to Director of Research, a position he held until 2010. Since then, Peter has been skillfully managing investment strategies for high net worth and institutional clients with a thoughtful and disciplined approach to uncovering value in the markets.
I had the pleasure of working with Peter for ten years at Ragen MacKenzie and fortunately, even though our career paths diverged in 2010, we stayed in good touch. I’ve been impressed not only by what he’s accomplished in his career to date, but also his commitment to family and friends. It’s been fun to see his daughters grow into delightful human beings. His oldest Anna is studying business at Gonzaga and Claire is heading into her junior year of high school.
We continue to aim at excellence in everything we do for our clients and there’s no more important task than building a capable and caring team that’s committed to making us better every single day. With Peter, I’m confident we’ve booked another major win on that front. Please join us in welcoming Peter as you have the opportunity!
Also, on a related note, wanted to give a quick heads up that we are in the process of rebalancing our equity portfolios to ensure they’re positioned just how we want them. Similar in concept to pruning plants in the garden, we view this as good practice to promote a healthy balance of investment assets to meet our long-term risk and return objectives. We’re also refreshing the portfolio with a couple of new ideas that Peter is already bringing to the table. This rebalance may generate a larger than usual number of trades in your account, which will be reflected in your trade confirmations and monthly statements.
As always, please don’t hesitate to reach out if you have any questions about the market, our strategies, or your portfolio. And we look forward to the next time we’ll get to catch up with you.
On that front, please keep an eye out for an invitation to an open house for our new Bellevue office on September 29th. This should hit inboxes by the end of this week and would be a great opportunity to meet Peter and visit with the rest of the team.
We hope to see you there!