Wealth Building Strategies – Kesby Gold

Helping You Achieve Financial Freedom

Dr. Allen Friedman’s formal training was in dentistry. Upon graduation from dental school he served in the U.S. Army for 2 years. He went on to specialize in Oral & Maxillofacial Surgery and opened his first office in 1972. During his career as an oral & maxillofacial surgeon he also pursued a parallel career as an entrepreneur in the field of investment analysis and financial management. He authored the first commercially available mutual fund analysis software for the personal computer (PC), Fund Master TC. He lectured to investment professionals and high-net worth individuals on investment strategies. He retired from his surgical practice in 2006. He started Kesby Gold to help individuals attain and maintain successful retirement. He founded several successful businesses:

  1. New England Oral Surgery Associates
  2. Time Trend Software
  3. FundVest
  4. Kesby Gold

He has over 40 years of investment experience and feels strongly that there is no substitute for experience. He is someone who has experienced the retired life. He knows how to get there and how to maintain one’s standard of living during retirement.

Kesby Gold

What Allen Friedman Has to Say About Kesby Gold

Kesby Gold is a boutique investment advisory firm with a limited client base. By remaining small I can keep my overhead down and pass the savings on to my clients. I am passionate about ethical business practices and have extended my standard of ethics, that I established in my surgical practice, into my advisory business.

As an independent investment advisor my primary obligation is to the client, unlike advisors at the big name Wall Street firms whose primary obligation is to make money for the company.

I meet personally with my clients. I assess their needs. I find the best portfolio managers that meet the needs of the client. All client funds are deposited into a brokerage account that is registered in the client’s name. There is a firewall between the client’s money and the portfolio managers and Kesby Gold. There is complete transparency as to what the client owns. The client is the only one who can have access to withdraw funds.

Kesby Gold employs a Strategy Allocation Model. It is widely recognized that diversification is necessary to create successful portfolio performance. However, many people commit all their assets to one manager. I have found that a more successful strategy is to divide the assets amongst several highly successful managers who employ different investment strategies. My selection of portfolio managers is based on stringent standards.

Investment Philosophy

Kesby’s basic philosophy is based on two premises.

The first is an Absolute Return philosophy. It is not necessary to beat the market on a regular basis when the market is moving to the upside. However, it is extremely important to significantly beat the market when the market is moving to the downside. The movement of the markets is based on crowd psychology. Over a full market cycle there will be periods of extreme optimism or euphoria (usually occurring at market tops) and periods of extreme pessimism (usually occurring at market bottoms). It is important not to attempt to time these extremes but to remain invested in a manner that will take advantage of the upside and be defensive on the downside. In other words the best way to make money is not to lose money. The statements referring to market movement are long-term movements and should not be construed to be day to day movements.

The second is a Multi-Strategy approach. There are many ways to make or lose money in the stock market. Over a market cycle some will be in favor and others that may have been successful in the past may be out of favor. I have searched for a reasonable number of strategies that demonstrate an absolute return philosophy and make a lot of sense in their investment style. It is well recognized that diversification is important to achieve investment success. I’ve taken that one step further to embrace a Multi-Strategy technique. I would recommend participating in 3 to 4 different strategies.