Making time our servant.

Getting angry.

The Phronesis Fund was born out of a simple question: what is the most effective way to invest money I do not need now to build wealth for the future?

We searched through hundreds of offerings, tried a few dozen of them, and got angry. There were poor trade-offs everywhere we looked. Focus on the short-term. Excessive complexity. Management of the goal posts. Excessive fees. Not looking at the whole picture. Nothing focused solely on making time our servant.

Why give up?

Our careers in corporate strategy, analytics and technology had taught us that market context matters. Tailwinds matter. Business models matter. Managers matter. Above all, quality is a phenomenal strategy. Yet much of what we were pitched was closer to backward-looking dogma as opposed to first-principles reasoning.

The Experiment.

So we ran an experiment: could we outperform the competition? We sought and applied practical wisdom. We reasoned from first principles. In the process our curiosity and hobby turned into an obsession. And we outperformed the competition.

Partnership.

As this story unfolded others began to ask to invest with us. For years we politely declined. But investing was where our time and energy was being spent. This is why we tap danced to work. So we (finally) started saying yes.