Financial stewardship may actually be a redundant term given the roots of the word. But, especially in times of economic hardship, those we trust with the stewardship of our investments have an awesome responsibility. They must have the foresight and experience to avoid risks that could otherwise devastate a portfolio.

The word, "stewardship" itself comes from the Old English. A'sti' was an enclosure, a hall, or a building. The 'weard' (or ward) was the person responsible for it. As personal estates, churches, and kingdoms grew, "stewards" took on increasing management responsibilities: paying for the upkeep of facilities; the purchase of goods and furnishings; the supervision of staff, the collection of rents and tithes, and eventually, most other important financial and business transactions.

These days we often apply the term "fiscal stewardship" to a broader role, played by government officials, both legislative and executive, as they try to ensure that taxing and spending are sustainable, and, ideally balanced, so we can meet our social obligations without overburdening either ourselves or our grandchildren's children.

It is not easy, as the ongoing debate over the costs and benefits of universal healthcare, and the recent collapse (and near collapse) of some of the world's leading financial institutions have demonstrated.

On a purely personal level, most of us could use a good steward. The world has become an increasingly complicated place for investors, and even the most local investments are touched by factors that demand very special expertise.

All too often we make personal financial choices based on the stress we feel at decision time, even though reason, objectivity and experience would tell us to do otherwise. If nothing else, a trusted steward helps us count to ten.

Whether one decides to do their own investing or to hire someone with the responsibility to do it for them, in this world, stewardship, prudence and mutual trust are still critical keys to success.

To contact Mark Stys, Chief Investment Officer for Bluemont Capital Advisors LLC, please email: mstys@bluemontcapital.com or telephone: 703 657 7611.