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HOUSTON, TX – National civil engineering and surveying firm Manhard Consulting has appointed David Doran, P.E., CCM, to serve as director of construction management services for its Texas operations. Doran will manage construction from Manhard’s Houston-area office as the company supports growth in Houston and statewide, including residential, industrial, business and retail projects.

Since expanding to Texas, Manhard has opened three offices: Houston, Dallas-Fort Worth and San Antonio, and plans to add an Austin office in 2019. As director of construction management services, Doran will contribute to Manhard’s continued growth in Texas as they respond to the increasing population and expansion of cities throughout the state by providing services for all phases of land development.

“David’s extensive experience moves Manhard Consulting beyond construction contract administration,” said Manhard Consulting’s Southern Region Managing Director Thomas Stroh, P.E. “His knowledge and talent will allow us to provide a higher level of construction and program management.”

Prior to joining Manhard, Doran, a civil engineering graduate from the University of Virginia, served as construction manager at two leading civil engineering firms for fourteen years. He is also a member of the Houston chapter of the Construction Management Association of America. With more than twenty years of experience, Doran brings a deep, diverse skill set and strong regional ties to the company to help Manhard better respond to evolving building and infrastructure needs in Texas.

About Manhard Consulting
Manhard Consulting is a full-service civil engineering and surveying firm that serves public and private clients nationwide. Our associates collaborate with your teams to address safety, functionality, and quality-of-life issues where it matters most: on your site, in the community, in everyday life. With more than 250 employees, 11 offices across the United States and over 10,000 clients, Manhard Consulting continues to lead the industry as one of the most responsive, innovative and technologically advanced civil engineering and surveying firm in the country. Learn more about Manhard on LinkedIn, Twitter, Facebook, and Instagram.

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Firm’s Research Concludes That Optimizing for Diversification Outperforms Traditional Risk ApproachGravity Investments (Gravity), a premier financial engineering firm responsible for the Gsphere visual asset allocation platform, today issued a paper on portfolio optimization and the comparative value of optimizing specifically for diversification.The paper, entitled How True Diversification™ Preserves Capital, concluded that optimizing portfolios for diversification provides a positive impact to bear market returns at entirely no cost to bull market returns, resulting in dramatically better performance across a full market cycle. Diversification, not risk, is thus warranted according to Gravity as the focus of portfolio optimization for asset allocation.“We’ve known for some time that True Diversification is a primary enabler of achieving higher returns,” said James Damschroder, Founder of Gravity Investments and the firm’s chief financial engineer. “Now we know precisely why. With True Diversification, there really is such a thing as a free lunch.”Gravity conducted research on 95 actual Registered Investment Advisor portfolios in place between the years 2002 and 2009. The firm examined the portfolios across three time periods--bull market, bear market, and the full cycle, grading each portfolio--using Gravity’s proprietary diversification measurement.IPC, Gravity’s patented measurement of diversification, produces the weighted average of all unique correlations in a portfolio and provides a measurement of diversification specifically tuned to systematic risk. Gravity calls this advancement in the science of diversification measurement and optimization “True Diversification”.The results of Gravity’s research indicated that every extra percent of IPC was responsible for protecting 98 basis points of capital in a down market. By comparison, similar changes in standard deviation showed a much weaker relationship to returns in both bull and bear markets.“Based on these results, it’s reasonable to infer that the traditional practice of using a Markowitz efficient frontier as a menu of portfolios may be of dubious merit,” says Damschroder. “It’s hard to argue the logic of True Diversification when it protects capital in down markets without sacrificing gains in up markets.”Gravity’s innovative approach to portfolio construction will benefit virtually every sponsor of investment product, including broker/dealers, RIAs, insurance companies, mutual fund companies, hedge funds, pension plans, bank trust groups, 401(k) providers, fund consultants, family offices, foundations, and endowments.
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