Investment Philosophy

Lyons Asset Management was founded in 2005 by Michael Lyons, CA, CFA in order to provide discretionary portfolio management services to investors seeking a conservative, disciplined, value-oriented approach to the management of their investment savings.

Lyons Asset Management believes that Investing is as much art as it is science, that it is a marathon, not a sprint and that it involves making prudent decisions about an unknowable future. As a result, the selection of an investment manager for an investor is more than a scientific one. The reality of the requirement to judge performance both over the long haul and relative to the range of appropriate strategies means that it is important for investors to select an investment manager who is not only competent and ethical but also one who possesses a theoretical approach to the process that is consistent with that of the investor. At Lyons Asset Management, we understand the racing adage of “horses for courses.” Some quality horses will perform far better on certain race courses and not fare as well on other courses. We believe that some quality investment professionals will have successful relationships with some client profiles but not so with others. Thus, it is important that investors understand the conceptual approach of their selected investment managers and that they choose a manager whose style mirrors their own.

At Lyons Asset Management, we aim to take a conservative approach to the investment process with a primary focus on the preservation of capital. Only once we are comfortable that portfolios are structured in a manner which has no more than an appropriate level of investment risk for a particular client do we then focus on generating excess returns. As Mark Twain put it, we are more concerned with return of investment than return on investment.

Chief Investment Officer Michael Lyons, CA, CFA brings over twenty years experience in the accounting, banking and investment industries, including thirteen years as an Investment Advisor with major Canadian investment firms, to the table. Through these years, and while writing a popular investment newsletter (Musings From the Lyons Den), Mike has honed his style of bottom-up value investing, focused on investing in companies with solid financial structures trading at discount valuations. Over investment cycles, value investing has delivered impressive returns without the downside risk typically associated with more aggressive approaches. Value investing requires patience, faith and long time horizons. It is not for everyone, but for those investors attracted to this approach, Lyons Asset Management will be a good choice for a long-term investment partner.

Lyons Asset Management offers eight investment mandates, tailored to each investor’s particular circumstances and objectives. For both Canadian and international investors, Lyons Asset Management offers Pure Equity, Aggressive, Balanced and Conservative mandates. For more information, please feel free to contact us.