Tactical at Naviquant.

Opening our first blog with a cliché may seem like an odd choice, but that does not make it any less true. At Naviquant Capital Management, change is the engine of the work — and the discipline.

Most investors hear "tactical" and think of opinions — someone got bearish, someone got bullish, someone made a call. We use the word differently. Tactical, to us, is what a measurement does to a position — not what a forecaster thinks about a market. When the rule reads up, we're in. When the rule reads down, we're out. The reading does the deciding, the same way, every day.

What changes — and what doesn't

What changes:

• Markets, headlines, fee structures, tax law.
• The composition of the firms we own through index funds.
• Your goals, your cash flow, your kids' tuition timeline.

What doesn't:

• The four-step loop: measure → model → allocate → monitor.
• The fact that compounding takes time, and time isn't optional.
• Our incentives. We're paid by clients, not by products.

So what?

This blog will be short, plain-spoken, and infrequent. We'll write when we have something to say — usually about the method, occasionally about markets, rarely about ourselves. We will not opine on the day's headlines.

If you'd like to be notified when a new piece appears, you can drop us your email. If you'd like to talk about whether we're a fit for your situation, the same form will do.

Tactical isn't a call. It's a measurement, repeated.

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Jocelyn Servignat is the founder of Naviquant Capital Management and an Investment Adviser Representative. This post reflects his personal opinions and does not constitute investment advice. See full disclosures.