Independent. Long-term perspective.

Patience is scarce these days. Financial news focuses on stocks that double overnight and promises of quick gains. Everyone seems captivated by what’s flashy. Few talk seriously about steady investing, and even fewer discuss bonds.

It’s something I encounter often. People work hard, saving for decades, then move their money into speculative assets. There’s always a new product or hack. Leveraged ETFs, complicated option strategies, exotic assets, and companies with plenty of promises but no profits. Wall Street profits from this every year, while most investors end up risking what they have spent years building.

What many investors overlook is how little real risk Wall Street actually takes. Firms profit from transaction spreads. ETF providers benefit when assets change hands. Banks collect interest with minimal exposure as homeowners provide collateral. For most large institutions, returns are collected regardless of how the market performs.

There was a time when investing meant focusing on reliability. Andrew Mellon famously said, “Gentlemen prefer bonds.” It was more than a clever comment. It summed up an entire approach. The Waltons, well known as the founding family of Walmart, have long favored municipal bonds. J.P. Morgan, a name that still carries weight in finance, relied on the certainty of bonds rather than chasing stock market trends. His fortune grew by lending to railroads and governments, not chasing the latest fad.

John Bogle, the founder of Vanguard, was another advocate. He understood that long-term wealth is built on compounding and self-control, not on excitement and risk.

That idea shapes First Shelbourne. The goal is reliable income and protecting clients’ capital, not beating indexes. Financial media gives little airtime to bonds, perhaps because they are seen as dull. But in reality, that’s their strength.

Stocks push investors to their limits during downturns. Many say they’re investing for the long haul, but few stay calm through big declines. Panic selling is common, cycles repeat, and emotional mistakes follow. Bonds don’t provoke this kind of stress. Their lack of drama is precisely what makes them valuable.

Stability always matters. Bonds provide predictable returns and income. Most importantly, they help ensure that what’s been built over a lifetime isn’t at risk of disappearing overnight.

As the founder of this firm, I know that compounding quietly over time isn’t flashy, but it works. It keeps you in the game. The true secret to investing isn't finding that one hot stock, but instead, avoiding the losers. 

That’s what I do here. I build portfolios designed for stability, grounded in the bond market, and with prudent stock market exposure. As the great medieval English philosopher Roger Bacon stated, "More people should learn to tell their dollars where to go instead of asking them where they went."

- Chris Wargas