Carlson Capital Management

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Volatility: Our Constant Companion

Jeff Carlson – Carlson Capital Management
Jeffrey Carlson, CFP®

Founder
651.437.2360
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  "It is the ability to put data and information together into a cohesive plan and structure that requires true expertise, experience and leadership."  

Professional Biography
Jeffrey R. Carlson is a founding principal of Carlson Capital Management. His primary responsibilities include managing client relationships and helping to lead the firm’s business development initiatives. Jeff also develops and sets the vision for the firm. Jeff is a 1983 graduate of St. Olaf College, where he earned his Bachelor of Arts degree in Economics, with specific concentrations in finance and accounting. Jeff began his career with IDS/American Express and shortly there-after earned his Certified Financial Planner™ designation. Jeff has been providing wealth management advice to clients and their families for three decades and has developed specific areas of expertise in retirement and early retirement planning, stock option management, estate planning, insurance services and developing integrated plans that include philanthropic giving.

Jeff is an active volunteer with numerous organizations including Hastings Area Rotary Club, St. Philips Lutheran Church, Fellowship of Christian Athletes, the Hastings Area YMCA, Green Lake Lutheran Ministries and the Hastings chapter of Let’s Go Fishing for seniors. Jeff is also an active alumnus of St. Olaf College, and currently serves as the Class of ’83 Correspondent and Class Fund Agent. In maintaining family tradition, Jeff is an avid tennis player and enjoys serving as a volunteer coach with the Hastings High School Tennis Team. Jeff also enjoys golf and spending time with his family. Jeff and his wife, Stacy, live in Hastings, Minnesota, where they raised their three children.

Personal Thoughts
Sports have and always will play an important part in my life. It is through these activities that I have learned hard work, discipline, and teamwork. Let me provide a few examples.

As a sophomore on the St. Olaf Basketball team, I was disenchanted with my playing time and the lack of opportunities to prove myself. With my speech to my coach memorized, I walked into his office to make my case for increased playing time. Before I was even able to say my opening line, I was presented with these words: “You are slow, you make poor decisions, and have an inability to score!”

So, I asked myself, “Do I quit or do I try to prove him wrong?”. By the end of the season, I was the first guard off the bench, lettered, and was given the “Mr. Hustle” award by my teammates. I may not have been the most talented, but I understood the value and reward in working hard and doing my best to help the team.

Another example recalls how I always wanted to follow in my father’s footsteps as a strategist and coach. I can picture my dad, days before a tennis match, shuffling and re-shuffling line ups to get the best opportunity for success against the opposing team. To a degree, what I really enjoy doing at Carlson Capital Management, I learned from my father. First, I know that to best serve our clients requires expertise and strategy from many different angles, including tax, estate, and investment perspectives. Understanding data and information is important, but it is the ability to put information together into a cohesive plan and structure that requires true expertise, experience and leadership. Second, to meet the needs of our clients, I am able to act as a coach to incorporate the best game strategies to “prevent unsuccessful outcomes” and create the best opportunity to win – that is, how to best accumulate, manage, and distribute their assets in such a manner as to help them accomplish what is most important to them.

Jeffrey Carlson
Jeffrey Carlson, CFP®
Founder

With nearly 40 years of industry experience, there are several market drawdowns that stand out in my mind, each of them with their own characteristics. We’re hearing a lot about volatility today, and we often do when the S&P 500 dips. But it’s important to remember that volatility applies just as well to times when it’s up. After all, the definition of volatility is the tendency to change quickly and unpredictably.1 In short, volatility is our constant companion and inherent to an investment experience in a dynamic world. It’s with this understanding that CCM designs portfolios optimized for volatility that swings in both directions—positive and negative.

Despite this, it’s easy to feel discouraged during times of less-than-favorable volatility headlines. Here are a few key points to keep in mind:

  1. You’re not invested in just one market; there are many markets within “the market.” Because of this, it’s important to consider the performance of market segments. And that the market segments you own are uniquely designed to support your financial goals. We provide you with a disciplined investment strategy that accounts for volatility. Rebalancing the segments where you’re invested is one of the key tools we use to accomplish this. As a result, a headline describing the market as “down” can be deceiving since it doesn’t represent your investment mix.
  2. Communicate your cashflow needs with your advisor. Through ongoing conversations about your 1–3 year goals, we can plan for them and leverage volatility to your benefit so your plans do not need to change and you don’t have to accept unfavorable prices that may compromise your long-term goals.
  3. We know the returns are there—it’s why we’re invested in equities in the first place. And, put simply, if your line isn’t in the water, you can’t catch the fish. Electing to exit the market on the account of poor timing automatically creates a second decision—when to get back in. It is our firm belief—one that is well researched and detailed here—that trying to time the market is futile. Rebalance and adjust for your risk—of course. But don’t depend on a strategy that times the markets.

We understand the many emotions that accompany the investment journey and we’re honored to walk alongside you through them all. I can assure you of three things: volatility is normal, the emotions you feel as a result of volatility are normal, with your partnership and candor, we know just what to do to help you navigate volatility on the path toward achieving your financial goals. Thank you for the trust you place in CCM. We’re delighted to serve you.


  1. Merriam-Webster

NOTE: The information provided in this article is intended for clients of Carlson Capital Management. We recommend that individuals consult with a professional adviser familiar with their particular situation for advice concerning specific investment, accounting, tax, and legal matters before taking any action.
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Published March 24, 2022 Topics: Discipline, Integrated Wealth, Market Volatility

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