Institutional Investors Many equity investors have abandoned active management in favor of indexing. Lower fees are a benefit, but passive strategies would be far less popular had they not outperformed most managers. Money inevitably chases performance, and history teaches that following the crowd usually ends in regret.Drawbridge is focused on maximizing your return over a full market cycle, bad years as well as good. Our goal is to outperform benchmarks over most rolling three and five year periods, whether indices are rising or falling. While we try to keep turnover low we see no advantage in holding money-losing positions. We prefer to let our winners run, cut losses as quickly as possible, and reinvest in stocks with attractive potential over the next year or two.We think a good investment manager consistently delivers higher returns than its benchmark and peers at lower volatility. The best do so with much lower correlation to the rest of your assets, improving the risk-adjusted return of your total portfolio in the process. We strive to consistently excel on all three of these metrics.