How we can prepare for every investment scenario. We discuss: Risk Parity and Futures Markets Leverage and Value Diversification Outsourcing Expertise Integrating Asset Classes to Maximize Returns Hosted by Adam Butler, Mike Philbrick and Rod

Liquidity Crashes

Mar 12th, 2021 20m 50s

How can we manage for scenarios when Liquidity evaporates? We discuss: The mechanics of a Liquidity Shock The Fed and the Long Volatility Gap Diversification, Tail Hedge Protection and Theta Bleed Dennis Rodman and the Long Vol Trade Yield, Gr

Extracting Benefits From Anomalies

Mar 12th, 2021 26m 50s

How can we move from Factor Beta to Alpha? We discuss: Swensen, Yale and aligning incentives The cycles of factor investing Machine learning, the Bias/Variance trade off and Alpha Ensembles Sustainable Alpha through continuous Innovation Host

Adding More Bets

Mar 12th, 2021 23m 21s

What additional Sleeves can we add to maximize diversity? We discuss: Style premia, factors, smart beta – the benefits and risks Efficient negative Sharpe ratios Redemptions and “noise traders” Larry Swedroe and anomalies Value characteristics

Sticking Points

Mar 12th, 2021 19m 12s

How do we eat Sharpe ratio and meet financial goals with a maximally diversified portfolio? We discuss: Using leverage in a robust and diversified portfolio to preserve diversification while achieving target returns Why “credit” is not a disti

The Rebalancing Premium

Mar 12th, 2021 22m 31s

Traditional yields are low, so how do we meet our funding obligations? We discuss: Rebalancing highly diversified portfolios to generate 3%-5% in excess returns The Diversification Ratio and maximally diversified portfolios The increased value

Balance

Mar 12th, 2021 22m 33s

Diversity of investments only produces “diversification” if asset classes are held in proper balance. We discuss: The 60/40 portfolio and why it’s not diversified or risk-balanced The advantages of Global Risk Parity Portfolios How leverage he

Preparation Before Prediction

Mar 12th, 2021 16m 26s

Investors are often prone to “home-country” equity bias and other heuristics that leave them under-exposed to the world’s many diverse opportunities. We discuss: The importance of global asset class diversity Ray Dalio and the “All Weather Por

Decision Making

Mar 12th, 2021 26m 23s

Philip Tetlock’s research on the qualities of Super-forecasters explains why forecasting is hard and how diverse models and systematic thinking can help close the gap. We discuss: Improving predictions by regularly updating data The Brier Scor

Stewarding Long-Lived Wealth

Mar 12th, 2021 19m 43s

Anyone who is responsible for stewarding wealth, from a high net worth person, to a family office, to an investment firm, to a pension plan. We discuss: Long term preservation of wealth for 30, 50, 100 years Building an investment “house” to w

Day 12 - Putting 11 days of Wisdom to work through a Multi-Asset Momentum Case Study

Dec 21st, 2018 22m 11s

The team has spent the last 11 episodes discussing the importance of asset allocation; the role of systematic “factor” tilts like momentum, value and trend; and how portfolio optimization can act as a force multiplier on long-term performance.

Day 11 – How to Juice as Much Value as Possible from Trend Following - The Cheapest Factor Out There Today

Dec 21st, 2018 20m 22s

In our second-to-last episode, ReSolve’s newest partner Jason Russell is joining us to share his wisdom on one of the most misunderstood strategies out there. While many investors are aware of the solid returns a simple trend following approach

Day 10: How Thoughtful Portfolio Optimization Techniques can be a Total Game Changer for Portfolio Results

Dec 21st, 2018 33m 29s

The Lords of finance have somehow convinced investors that “simple” always beats “complex” in markets. But this is rubbish. The fact is that every portfolio formation – even the so-called ‘passive portfolio’ - expresses very active beliefs abou

Day 9 – What It Means to be a True Systematic Manager and How to Spot the Lemon’s in your Lineup

Dec 21st, 2018 30m 33s

So far, we have been discussing a variety of ways to build portfolios and harvest returns, but we haven’t really addressed a fundamental aspect of how we think about portfolio construction. Even though most of us like to think that we will rise

Day 8 –Why Financial Professionals and their Clients Need to Get Comfortable with Being Uncomfortable in the Coming Decade

Dec 17th, 2018 21m 16s

Some of the ideas discussed in the last few episodes may raise a few eye-brows, as they force advisors and investors to venture outside of their comfort zones. But consider the alternative. At current valuation levels, US equities and bonds are

Day 7 – How to think about your Alternative Sleeve in the Context of Getting the Most Bang for your Buck

Dec 17th, 2018 23m 42s

And on the 7th day, the Meta Portfolio was created. After analyzing the many sources of return across major global asset classes, we now focus on how to implement different strategies and the most thoughtful way of putting those pieces together

Day 6 – Factor Investing and the Pitfalls of Poor Strategy Construction

Dec 17th, 2018 22m 40s

While we have played defense with concepts such as equal risk contribution, which help avoid big losses and mitigate sequence of returns risk, it’s time to play some offense. As we seek to compound our portfolios in the highest possible number

Day 5 –The Impact of Sequence of Returns Risk and How to Minimize it

Dec 17th, 2018 17m 41s

After creating a theoretical framework with an almost obsessive focus on diversification and risk-adjusted returns, we bring you case studies of global asset classes throughout history that will demonstrate the importance of not depending on (o

Day 4 – Pushing the Diversification Frontier with True Factor Investing

Dec 11th, 2018 23m 41s

On our fourth day, we add yet another layer of diversity onto our building blocks. While diversity across global asset-classes is a useful first step, there are other aspects of the portfolio construction and rebalancing processes that can push

Day 4 – Four Calling Birds and their Smart Betas

Dec 11th, 2018 23m 41s

Day 3 – The Two Fundamental Drivers that Determine All Economic Regimes

Dec 11th, 2018 22m 10s

Now that we have established an ideal investment arena and the benefits of maximizing portfolio diversity, we can use these building blocks to dig a little deeper into the fundamental reasons why global asset classes are able to provide signi

Day 2 – What True Diversification Really Is and How to Maximize it

Dec 11th, 2018 21m 49s

In episode one we described an investment arena that is likely to provide the best long-term opportunities. On this second day, we lay out the case for giving as much (or more) credence to portfolio diversification opportunities as is given t

Day 1 – The Most Crucial First Question: Asset-Allocation or Security Selection?

Dec 10th, 2018 18m 40s

On the first day of this series, we answer a pivotal question that every investor should ask themselves before embarking on their investment journey: where should you dedicate most of your energy and focus, asset allocation or security select