Customized portfolio management for individuals and families, led by proprietary macro research, employer independence compliance, and long-term client relationships.
Nemdhari runs its own macro regime model. It reads six cycles every month and decides how much risk is worth carrying, then cuts inside the month when funding, credit or trend turns. The aim is capital growth that a client can actually hold on to, in a portfolio shaped around their profile and the rules their employer imposes on what they may own.
Approach
None of this is exotic. It is the part of the job most firms outsource, and we do not.
Macro Tide Core is ours: six cycles read from public data, a conviction score, a risk budget, and nine sleeves. It is not a licensed allocation or a rebadged third-party sleeve. Because we wrote every rule, we can explain any position and change the machine when the evidence says to, rather than waiting on a vendor.
Each week the read is written up: what moved, what the cycles now say, and what would change our mind. Advice traces back to a dated piece of research you can go and reread, including the calls that did not work. Nothing we recommend rests on a view we never wrote down.
The model sets direction. Your holdings then account for your risk profile, what you already own and its tax position, and the income you need drawn. A client who spends from the portfolio carries a cash floor sized to their own spending and runway. You always see how far your book sits from the model, and why.
Many of our clients work under independence rules: audit firms, banks, asset managers. We hold your firm's restricted list and check every proposed trade against it before you see it, so a recommendation is never something you are not permitted to own. Pre-clearance evidence is filed alongside the instruction.
Drawdown control
The monthly read sets the risk budget. These three override it, regardless of the view, because the falls that end financial plans announce themselves in the plumbing before they show up in prices.
Why this, and not more return? A portfolio that falls by half has to double to stand still, and most people do not stay invested long enough to find out whether it will. Controlling the depth of the fall is the highest-value thing an adviser can do for a long-horizon investor, and it is what this model was designed around from the start.
Vision
Most advice is a questionnaire, a model portfolio and a quarterly statement. The interesting work sits in the constraints that make a client's situation genuinely theirs.
One client cannot own half the financial sector because of where they work, and needs that checked on every trade rather than attested once a year. Another is drawing an income, and needs that spending funded from something that cannot fall rather than from selling into a decline. A third holds a concentrated position they cannot sell yet, and a portfolio that has to be built around it.
Those constraints are inputs to the portfolio, not footnotes to it. We are building a practice where the model is transparent, the tailoring is explicit, and a client can see exactly why their holdings differ from the model and what that difference costs them. Clients keep their own accounts at their own broker throughout. We never hold assets and never trade them.
Research
Written for people who want to see the machinery. Education and market analysis, not advice and not a recommendation for any person.
The week's data prints, what beat, what missed, and what moved the read.
How each cycle's z-score, momentum and state are computed.
Net liquidity, the reverse repo cushion and the Treasury account, explained.
The practitioners and papers the framework rests on, and what each contributes.
The long-form article: what a regime signal can and cannot do for a portfolio.
Regime Note — 2026-08-31
Macro Tide No. 2 — Goldilocks on paper, hotter underneath
Contact
We take on a small number of households, and every one begins the same way: a conversation about what you hold, what you are permitted to hold, and what the money is for.
If your employer imposes independence or pre-clearance rules, say so early. That constraint shapes the portfolio more than almost anything else, and we would rather design around it from the first meeting.
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