And Ms. Gregory, Ms. Weiss-Otterpohl and others see that lack of anger as odd. So maybe the solution is not to let the next money manager become an unofficial member of the family. After all, in his personal life, Simmons has resisted joining the ultimate family institution. Although he has been living for 12 years with Shannon Tweed, the striking blonde actress, former Playboy centerfold and mother of his two children, he has refused to tie the knot on the grounds that marriage can undermine a relationship. You think you can get away with more.
Business is no different.
If somebody gets too comfortable or lax, they are gone. Simmons is trying to keep this discipline in mind as he and Stanley prowl for new money managers. One of the candidates for the job, Alex Ingardona of Lehman Brothers in Chicago, focuses on asset allocation primarily among stocks but also bonds and cash. Ingardona said it was hard to measure his performance because he does not have total discretion over portfolios, but he estimates that his returns have averaged around 13 percent for the last six years. For most investors, trust comes after due diligence, and the pair still have a way to go in learning which questions to ask.