{"id":1154,"date":"2026-01-23T06:00:11","date_gmt":"2026-01-23T06:00:11","guid":{"rendered":"https:\/\/ellowww.com\/demo\/logicon\/?page_id=1154"},"modified":"2026-01-27T14:51:02","modified_gmt":"2026-01-27T14:51:02","slug":"perspective-ii-the-case-against-performance-marketing","status":"publish","type":"page","link":"https:\/\/ellowww.com\/demo\/logicon\/?page_id=1154","title":{"rendered":"Perspective II: The Case Against Performance Marketing"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1154\" class=\"elementor elementor-1154\">\n\t\t\t\t<div class=\"elementor-element elementor-element-951852c elementor-hidden-mobile e-flex e-con-boxed e-con e-parent\" data-id=\"951852c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-d9e3b86 e-con-full e-flex e-con e-child\" data-id=\"d9e3b86\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bbb9633 elementor-hidden-desktop elementor-hidden-tablet e-flex e-con-boxed e-con e-parent\" data-id=\"bbb9633\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a107e5 elementor-widget__width-inherit elementor-widget elementor-widget-image\" data-id=\"5a107e5\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"340\" src=\"https:\/\/ellowww.com\/demo\/logicon\/wp-content\/uploads\/2026\/01\/letters-banner.png\" class=\"attachment-large size-large wp-image-894\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-23ff033 e-flex e-con-boxed e-con e-parent\" data-id=\"23ff033\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ffd01c7 fade-up-content elementor-widget elementor-widget-heading\" data-id=\"ffd01c7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Perspective II: The Case Against Performance Marketing<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a1e0f4f fade-up-content p-tag-margin  line-break-wrap elementor-widget elementor-widget-text-editor\" data-id=\"a1e0f4f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7f0e8e fade-up-content elementor-widget elementor-widget-text-editor\" data-id=\"f7f0e8e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Single-family offices do not need to market performance. Marketing performance serves one purpose: to raise external capital. Since we manage only family capital, publishing returns would serve only to invite unwanted attention and commoditize our positioning.<\/p><p>Performance disclosure creates three problems. First, it invites comparison on the wrong metrics. Our mandate is capital preservation over multi-generational time horizons, not short-term alpha generation. Second, it attracts inbound opportunities from managers seeking capital rather than long-term partners. Third, it creates implicit pressure to maintain consistency in metrics that are, by definition, volatile.<\/p><p>The best investors operate quietly. They focus on process, not outcomes. They compound capital without broadcasting results. Silence is not secrecy\u2014it is discipline.<\/p><p>Our commitment to discretion extends beyond legal requirements. It reflects a belief that capital deployment is a private matter, that results speak through relationships rather than marketing materials, and that institutional counterparties value judgment over performance tables.<\/p><p>If a manager requires proof of our track record to accept our capital, the relationship is already misaligned. The quality of our partnerships is determined by mutual trust, not historical returns.<\/p><p>This is not a stance against transparency. We provide full reporting to our stakeholders and institutional counterparties when appropriate. But transparency is not the same as public performance marketing.<\/p><p>We choose to be known by the quality of our partners, not the volatility of our returns.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdef60d fade-up-content p-tag-margin elementor-widget elementor-widget-text-editor\" data-id=\"bdef60d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Logicon Capital<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-54a2783 fade-up-content p-tag-margin elementor-widget elementor-widget-text-editor\" data-id=\"54a2783\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>September 2024<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0ea90bc fade-up-content p-tag-margin  line-break-wrap elementor-widget elementor-widget-text-editor\" data-id=\"0ea90bc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5d49695 e-con-full fade-up-content e-flex e-con e-child\" data-id=\"5d49695\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-11549db elementor-widget elementor-widget-heading\" data-id=\"11549db\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Perspectives<\/h6>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4ad6e80 e-con-full e-flex e-con e-child\" data-id=\"4ad6e80\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bb2b4dc p-tag-margin elementor-widget elementor-widget-text-editor\" data-id=\"bb2b4dc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong><a href=\"https:\/\/ellowww.com\/demo\/logicon\/?page_id=1109\">Why We Maintain Permanent Liquidity<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f32dcd elementor-widget elementor-widget-text-editor\" data-id=\"9f32dcd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>March 2024<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e45b0b2 e-con-full e-flex e-con e-child\" data-id=\"e45b0b2\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ee8fa5a p-tag-margin elementor-widget elementor-widget-text-editor\" data-id=\"ee8fa5a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/ellowww.com\/demo\/logicon\/?page_id=1155\"><strong>Evaluating Manager Alignment<\/strong><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6cd55ac elementor-widget elementor-widget-text-editor\" data-id=\"6cd55ac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>November 2024<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Perspective II: The Case Against Performance Marketing \/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/ Single-family offices do not need to market performance. Marketing performance serves one purpose: to raise external capital. Since we manage only family capital, publishing returns would serve only to invite unwanted attention and commoditize our positioning. Performance disclosure creates three problems. First, it invites comparison on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":33,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-1154","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/pages\/1154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1154"}],"version-history":[{"count":16,"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/pages\/1154\/revisions"}],"predecessor-version":[{"id":1597,"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/pages\/1154\/revisions\/1597"}],"up":[{"embeddable":true,"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=\/wp\/v2\/pages\/33"}],"wp:attachment":[{"href":"https:\/\/ellowww.com\/demo\/logicon\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}