Podcast
Risk Parity Radio
Hosted by Frank Vasquez · EN
Risk Parity Radio is a podcast about investing located at www.riskparityradio.com. RPR explores risk-parity style portfolios comprised of uncorrelated or negatively correlated asset classes -- stocks, selected bonds, gold, managed futures, and other easily accessible fund options for the DIY investor. The goal is to construct portfolios that are robust and can be drawn down on in perpetuity, and to maximize projected Safe Withdrawal Rates regardless of projected overall returns.
65episodes
Episodes
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Episode 502: Spending More And Living More In Retirement, More On The Four Quadrant Model, Celebrating Our Listeners And Friends, And Portfolio Reviews As Of April 17, 2026
Apr 1900:53:27Tap to summarizeIn this episode we answer emails from Matt, Michael, Stephen and Al. We discuss expanding the spending muscle in retirement, the generosity of our listeners, more on the Four Quadrant model and its permutations, and how we stay connected to listeners without inhabiting the conference circuit. And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Additional Links:Fairfax CASA Donation Page: Donate - Fairfax CASACool Number Nerd Video: Fibonacci Numbers hidden in the Mandelbrot Set - NumberphileMiB Podcast Episode: Masters in Business: Jean-Philippe Bouchaud - BloombergThe Dude's Link re Quadrants and Assets: Structural Diversification for All Seasons - ReSolve Asset Management (investresolve.com)Hedgeye Asset Chart: Hedgeye Four Quadrant Model Best and Worst Assets.pdf - Google DriveBloomberg Inflation Presentation: Bloomberg Investing in Inflationary Regimes Presentation.pdf - Google DriveListener Essay on Four Quadrant Model: 15 Uncorrelated Assets | SSiSClaudia Moise Paper with US Treasuries Correlation Data: Flights to Safety, Volatility Risk, and Monetary Policy by Claudia E. Moise :: SSRNBreathless Unedited AI-Bot Summary:Hoarding can look a lot like “being responsible,” especially right before retirement when every headline makes the future feel fragile. We take a listener’s detailed numbers and use them to talk about a problem we see all the time: spending that never catches up with the life you actually want. If your future expenses are likely to decline in real terms, your personal inflation rate may be lower than CPI, and a fixed rule can quietly push you into over-saving instead of living. We share a simple, practical idea for breaking that pattern: create a visible spending bucket, spend intentionally, then review what brought real value and what didn’t. Then we shift into a deep question from a data-driven listener who tried to test Bridgewater’s four quadrant model using growth and inflation data. We explain why these relationships are probabilistic, why short time frames can look like a noisy blob, and where to look for research that connects macro regimes to asset returns. Along the way we revisit the roles different diversifiers can play in a risk parity portfolio: Treasury bonds as recession insurance, managed futures and commodities for ugly inflation shocks, and gold as a strange but useful diversifier when the world gets weird. We wrap with our weekly portfolio review and a quick read on what’s been working lately across stocks, small cap value, bonds, gold, REITs, commodities and managed futures, including results from our sample portfolios and a few leveraged experiments. If you like practical asset allocation, retirement withdrawal strategy, and plainspoken investing conversations with some humor mixed in, hit play, then subscribe, share the show, and leave a review so more do-it-yourself investors can find it.Support the show
Transcribe →Episode 501: Talking CASA, Dealing With Shiny Object ETFs, Musings About TDFs, And Transitions From Cash
Apr 1600:39:50Tap to summarizeIn this episode we answer emails from Dustin, Optimus Bill, Vaibhav, and Morrie. We discuss how to vet a new "shiny object" ETF, why trying to "fix" target date funds is likely to be a fools' errand as their proper use is extremely limited, and transitioning into a retirement drawdown portfolio without obsessing over recent market highs. In our Queen Mary segment, we also provide a Fairfax CASA fundraiser update and explain how your donations support foster care advocacy.Links:Fairfax CASA Donation Page: Donate - Fairfax CASAMorningstar Analysis of LCOW: LCOW – Portfolio – Pacer S&P 500 Qul FCF Aristocrats ETF | MorningstarBreathless AI-Bot Summary:A slick email promises “Quality” and “Aristocrats,” a backtest says it beat the market, and suddenly you are wondering if your portfolio is missing a magic ingredient. We slow that moment down and show you how to think like a process-driven investor instead of a headline-driven one. Starting with a listener question about a brand-new ETF, we walk through a simple evaluation method using Morningstar: check the expense ratio, identify the fund category, inspect the holdings, and compare it to cheaper index funds. The punchline is not about one ticker symbol, it is about learning to spot shiny-object marketing before it steals your time and returns.From there we tackle a bigger theme: why so much financial media is engineered to keep “Level 2” investors chasing opinions and hopping from strategy to strategy. We talk about data mining, why a 10 to 15 year backtest can be deeply misleading, and what you should demand before believing any performance story. If you care about long-term portfolio design, the right order is asset allocation first, fund selection second, with low costs as a default unless something is truly different.We also answer questions on target date funds, accumulation versus decumulation, and how real retirement planning gets messy across pre-tax, Roth, HSA, and taxable accounts. Finally, we address a common retirement fear: investing when “the market is high.” We explain why diversification changes that question, how different assets can carry the load at different times, and how to schedule a transition plan if moving all at once feels hard.Subscribe for more no-nonsense portfolio talk, share this with a friend who keeps getting pitched “new” ETFs, and leave a review if the framework helps. If you can, donate to Fairfax CASA and help provide a steady advocate for children in foster care.Support the show
Transcribe →Episode 500: A Non-Profit Portfolio, Some Retro Ranting on TIPS, Parsing Withdrawal Methods, And Portfolio Reviews As Of April 10, 2026
Apr 1200:49:28Tap to summarizeIn this episode we answer emails from Ronald, George, Jeff. We celebrate episode 500 by sharing a few “Easter egg” resources, then jump into listener questions that cut through common investing myths. We discuss a portfolio for a non-profit, rant about TIPS with a Wall Street Journal article to back us up, and talk about various choices in withdrawal methods. And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Links:Fairfax CASA Donation Page: Donate - Fairfax CASARant Anthology Slides: Risk Parity Radio Rants Anthology.pdf - Google DriveFour Quadrant Video: The Four Quadrant Model and the True Meaning of Diversification.mp4 - Google DriveWSJ Article on TIPS: TIPS_ Inflation-Protected Bonds Dont Help You When Inflation Is High - WSJ Copy.pdf - Google DriveBernstein TIPS Article: Riskless at Age 104 - Articles - Advisor Perspectives ("A bond fund manager recently related to me his difficulty in figuring out the role of TIPS in his portfolios. After fumbling for a reply, I realized that he was right: like Social Security, they don’t occupy a formal slot in most folks’ asset allocation. . . . TIPS should be kept mentally separate from the policy asset allocation as well.")Morningstar Article: Morningstar State_of_Retirement_Income_2025.pdf - Google DriveEconoMe 2026 Presentation: F. Vasquez EconoMe 2026 Final Slides.pdf - Google DriveTestfolio Golden Ratio w/CPI-based withdrawals: Portfolio Backtester for ETFs and Asset Allocation | testfolioTestfolio Golden Ratio w/percentage-based withdrawals: Portfolio Backtester for ETFs and Asset Allocation | testfolioBreathless AI-Bot Summary:Episode 500 lands with a simple promise: fewer stories, more data, and portfolio choices that hold up when markets stop cooperating. We share a couple of nostalgic “Easter egg” extras from our back catalog, then dive into listener mail that hits the heart of modern portfolio construction for both individuals and institutions.First, we tackle a nonprofit investing question about moving from capital preservation to growth using a heavily value tilted stock mix. We break down what that allocation is really buying (small cap value, mid cap value, and a value lean in large caps), why it can shine over very long horizons, and why the same strategy can still test patience for a decade or more. If you’ve ever wondered how to balance expected return against real world tracking error, this section is for you.Then we hit the big rant: Treasury Inflation Protected Securities (TIPS) are not the inflation shield they’re marketed to be. We walk through the Wall Street Journal’s findings, the 2022 case study, and the bigger point that TIPS are still bonds with rate risk. We also talk about what has tended to help more in inflationary regimes, including commodities, value oriented equities, and managed futures, plus when a TIPS ladder might be a reasonable side tool.[Truncated due to character limits.]Support the show
Transcribe →Episode 499: Thanking Our Generous Listeners, Converting An Inefficient Vanguard Thingamablob, Assisting College-Age Kids, And Smiling With Sara
Apr 800:49:59Tap to summarizeIn this episode we answer emails from Jose, Luc and Sara. We discuss using specific tax lots to reduce capital gains when reallocating, how the 0% long-term capital gains bracket works and why many land in the 15% bracket, where to hold gold like GLDM across IRAs and taxable accounts, turning off dividend reinvestment to simplify moves and build retirement cash, replacing total bond and international bond funds with Treasury funds like VGIT and VGLT,, why diversification and value exposure can improve safe withdrawal rate odds, supporting and encouraging college-age kids with clear expectations, and tools to model short retirements and scenarios.We also celebrate a major fundraising milestone for Fairfax CASA and share a real story of how advocacy changes outcomes for teens in our Queen Mary segment.Links:Fairfax CASA Donation Page: Donate - Fairfax CASAChris Corinthian EconoMe Presentation: Chris Corinthian: How to Pay for College Without Student LoansJose's Portfolio Link: Portfolio Backtester for ETFs and Asset Allocation | testfolioInvestopedia Capital Gains Taxes Article: Capital Gains Tax: What It Is, How It Works, and Current RatesSara's Portfolio Analyses (from prior episode): testfol.io/?s=htNZVoZOZn4Portfolio Charts Withdrawal Rates Calculator: Withdrawal Rates – Portfolio ChartsPortfolio Visualizer Financial Goals Tool: Financial GoalsBreathless Unedited AI-Bot Summary:$24,000 raised by listeners, plus a pledged $20,000 match, is the kind of number that stops you in your tracks and then makes you proud to be part of a community. We kick off with a Fairfax CASA update for Child Abuse Prevention Month and a powerful success story about three teen sisters, a young uncle who stepped up, and the CASA volunteer who became the one trusted voice the girls could confide in when everything felt chaotic.Then we shift into what Risk Parity Radio does best: answering detailed listener emails with practical, step-by-step personal finance guidance. We dig into how to transition a Vanguard-style portfolio toward a risk parity retirement portfolio without detonating a capital gains tax bill, including how to sell specific tax lots, what the 0% long-term capital gains bracket really requires, and when “good enough” beats waiting for perfect. We also cover gold allocation in decumulation (including where GLDM can sit across IRAs and taxable accounts), why turning off dividend reinvestment can make withdrawals and rebalancing cleaner, and why Treasury bond funds like VGIT and VGLT can diversify equity risk better than credit-heavy bond mixes.We also take a thoughtful detour into family finance: how much to help your kids with college while still protecting their drive and independence, how to have “the talk” about expectations, and ways to cut education costs without cutting opportunity. Finally, we revisit a short-term retirement runway plan and talk scenario testing, safe withdrawal rates, and modeling tools like Portfolio Charts, TestFol.io, and Portfolio Visualizer so you can stress-test risk, time horizon, and side income realistically.If you found this helpful, subscribe, share the episode with a DIY investor friend, and leave a review so more people can find the show.Support the show
Transcribe →Episode 498: Maximizing Portfolio Use To Maximize Life, HSA Musings, Meta-Reflections, And Portfolio Reviews As Of April 3, 2026
Apr 500:46:37Tap to summarizeIn this episode we answer emails from Frank, Stephen (from Cincy), Jeff, and Sally. We focus on a common retirement blind spot: once you are financially independent, portfolio tweaks matter less than the life choices you make with the time you have. We also address those tweaks and then dig into HSA asset location traps, reflect on our listeners and our mission, and talk about our fundraiser for Fairfax CASA.And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Links:Fairfax CASA Donation Page: Donate - Fairfax CASAVideo About the Over-Saver Trap And How To Use Your Money To Improve Your Well-Being In Retirement: RPR Episode 436 Illustrated: The Two Halves of Your Financial LifeThe Four Quadrant Model Exquisitely Explained With Illustrations Inspired By Vermeer: The Four Quadrant Wealth Atlas.pdf - Google DriveBreathless Unedited AI-Bot Summary:You can do everything “right” financially and still miss the point of retirement. We kick off with a listener who is debt free, nearing retirement, sitting on substantial retirement accounts, and backed by a pension and rental income. The question on the surface is classic DIY investing: should the equity slice rise to 45%, should yield be reinvested, and when should a risk parity style portfolio transition happen? Our answer starts with the math, then quickly moves to what the math is trying to protect.From there, we zoom in on practical asset allocation choices that matter for real portfolios: how much long-term Treasury bond exposure is too much, why intermediate Treasuries may be redundant next to long duration bonds, and why turning off dividend reinvestment can make retirement rebalancing cleaner. We also talk value-tilted ETFs like AVGV and related Avantis funds, including how “fund of funds” products can quietly overlap with holdings you already own and make your plan harder to manage.Next, a second listener brings an under-discussed HSA twist. HSAs often get treated like a Roth IRA, but the inheritance rules can be punishing for non-spouse heirs, turning a tax-advantaged account into a one-year tax bomb. We walk through what that means for asset location, Roth conversions, and where aggressive investing belongs if you are tempted to take big swings. We wrap with our weekly market snapshot and the April distributions across the eight sample portfolios on the Risk Parity Radio site.If you found this helpful, share it with a friend who is close to retirement, then subscribe and leave a quick review so more DIY investors can find the show.Support the show
Transcribe →Episode 497: Critiquing A Problematic Portfolio, A New Listener Tool, 401K Quandaries, And Mucho Mucho Gratitude
Apr 200:51:28Tap to summarizeIn this episode we answer emails from Dave, Marcus Vindictus, and Sharon. We take a hard look at what “diversified” really means in retirement and why correlations matter more than fund count. We also talk about simplifying messy accounts, using AI to decode bad 401(k) menus, and making generosity a real part of financial independence. And we do a fundraising update for Mary's charity, Fairfax CASA, and discuss how CASA stability changes kids’ lives in our Queen Mary segment.Links:Fairfax CASA Donation Page: Donate - Fairfax CASATestfolio Fund Analysis: Asset Analyzer for ETFs, Stocks, and Funds | testfolioTestfolio Portfolio Comparison: Portfolio Backtester for ETFs and Asset Allocation | testfolioMerriman Best-in-Class ETFs: Best ETFs 2025 | Merriman Financial Education FoundationDave's Cool New Tool: RebalancerCatching Up To FI 401k Podcast: Is Your 401(k) a Mess? Do This Now (Step-by-Step Guide) | Bill & Jackie | 205Breathless Unedited AI-Bot Summary:A retirement portfolio can look “responsible” on paper and still blow up when you start taking withdrawals. We dig into a real listener email from a DIY investor who is close to early retirement and trying to understand why an advisor-built mix of total market stocks, dividends, international, corporate bonds, and high-yield bonds doesn’t behave like a true risk parity portfolio when markets get rough.We walk through the core retirement investing principles we use: define the goal (including a realistic safe withdrawal rate), check correlations so you know whether you’re actually diversified, and stress test over the decades that matter like the 1970s and the early 2000s. Along the way, we explain why credit-heavy bond funds can move with stocks, why Treasury bonds tend to be the better ballast, and why adding true alternatives like gold and managed futures has historically improved drawdown control and withdrawal outcomes.We also tackle two problems nearly every investor hits: the “robo-advisor spaghetti” account stuffed with hundreds of holdings, and the frustrating 401(k) plan menu full of overpriced or confusing funds. We share a practical shortcut for the 401(k) problem: paste the fund list into an AI tool and ask it which options are closest to an S&P 500 fund or total market index fund and which ones have the lowest fees.You’ll also hear updates on our fundraising for Fairfax CASA plus a reminder that money is most powerful when it supports a life well lived through giving, volunteering, and legacy planning. If this helps, subscribe, share the show with a friend, and leave a rating or review.Support the show
Transcribe →Episode 496: The Dangers Of Fixating On Tickers, Minimizing Taxes On Cash, Transitions, And Portfolio Reviews As Of March 27, 2026
Mar 2900:44:01Tap to summarizeIn this episode we answer questions from Dustin, Optimus Bill and Scott. We discuss the common mistake of chasing tickers and low fees instead of building a portfolio around goals and carefully chosen asset classes, cowbell origins, what to do with large allocations to cash equivalents and how much do you really need, and transitioning to a retirement portfolio. Hint: Search "transitioning" on the podcast page at the website for more podcasts about that.We also review March market damage and show how diversified risk parity style portfolios hold up when stocks stumble.And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Links:Fairfax CASA Donation Page: Donate - Fairfax CASAHow To Do An Asset Swap Video from Risk Parity Chronicles: How to Do an Asset SwapAfford Anything Episode #618: They Ran Out of Money. I Didn’t. Here’s Why.Breathless Unedited AI-Bot Summary:Zero-fee funds, shiny tickers, and “close enough” substitutions can feel like smart investing, right up until you realize they’re steering your entire asset allocation. We dig into listener questions that expose a common trap: building a portfolio around a fund you like instead of designing a plan around your goals, your time horizon, and the asset classes that actually do the work.We break down Fidelity Zero funds through a practical lens: mutual fund vs ETF structure, tax efficiency, portability across brokerages, and how to confirm what you’re buying with tools like the Morningstar style box. We also talk plainly about expense ratios in a world where most fees are already low, and why rebalancing, diversification, and holding the intended exposures matter more than shaving a few basis points.Then we tackle a deceptively simple question about gold. GLTR holds multiple precious metals, but gold has a unique role as a central-bank reserve asset that behaves differently from silver, platinum, and palladium. If your portfolio needs gold as an alternative currency style diversifier, you want a gold ETF, not a basket that “kind of” looks similar.We also cover asset location and the asset swap idea for cash equivalents, how much to keep in checking for real-life spending, and when it makes sense to shift from an all-stock accumulation portfolio toward Golden Ratio or Golden Butterfly as you approach your financial independence number. Finally, we run through March performance across major assets and our sample portfolios, including a clear reminder about what leverage can do in rough markets.If you found this helpful, subscribe, share it with a DIY investor friend, and leave a quick review so more people can find the show.Support the show
Transcribe →Episode 495: EconoMe, Fairfax CASA, Speculations On Chaos, New 401k Regs, And More Cowbell
Mar 2500:37:30Tap to summarizeIn this episode we answer emails from Andy, John, and Todd. We discuss what "holding dollars" means, the lure of speculation on recent events, the ongoing inadequacies of 401k and 403b plans and their incentives, and small cap value vs. small cap blend. More Cowbell! Before that we trade stories from the EconoMe Conference and spotlight Fairfax CASA’s work with foster kids and our fundraising efforts.Links:Fairfax CASA Donation Page: Donate - Fairfax CASAEconoMe Presentation on Financial Forecasting and Base Rates: F. Vasquez EconoMe 2026 Final Slides.pdf - Google DriveTestfolio Comparison of LCV vs. LCG vs. SCV vs. SCG: testfol.io/?s=cSv9C5VxOW9Testfolio Comparison of Golden Ratio Portfolios with Small Cap Variants: testfol.io/?s=hTcOUvd0g4JBreathless Unedited AI-Bot Summary:Markets get weird fast: oil shocks, war headlines, and that sickening moment when it feels like every asset in your portfolio is moving together. We dig into a question that pops up in exactly those moments: what does it actually mean when traders say they’re “holding dollars,” and is there a DIY investor version that makes sense? We walk through the mechanics behind dollar demand, why institutional cash moves don’t map neatly onto a home risk parity portfolio, and why cash timing is a low-odds game for long-term investors.From there, we tackle the real culprit behind most bad decisions: the urge to tinker. We talk leverage, opportunistic investing, and the seductive idea that you’ll spot the perfect entry point if you just watch enough financial news. Our view stays consistent: a disciplined asset allocation, a clear rebalancing rule, and the patience to wait out uncertainty usually beat prediction. If you absolutely must scratch the itch, we discuss how some investors think about volatility tools when the VIX is elevated, and why even “smart” speculation should be capped and rules-based.We also answer a practical retirement-plan headache: building diversified risk parity style exposure inside a 401k or 403b with limited fund menus. We explain why plan options change slowly, what kinds of “alternative investments” may show up instead, and why pushing for a self-directed brokerage window can be the most effective workaround. Finally, we close with a nerdy but important allocation question: small cap value vs small cap blend, how small cap growth can sneak in, and why index selection (CRSP vs deeper value tilts like S&P 600 value style exposure) can change what your backtest is really telling you.Subscribe for more DIY investing clarity, share the show with a friend who keeps tinkering, and leave a quick review with your biggest portfolio question.Support the show
Transcribe →Episode 494: More Gooooold, Calculator Comparisons, Planning And Portfolios, And Looking For Those Elusive Risk Parity Style Advisors
Mar 1800:41:39Tap to summarizeIn this episode we answer emails from Nicholas, Nathan and Lisa. We discuss how much gold is enough and how much is too much, why calculators disagree and the best ways to use them, and what “better” means when the future is uncertain. We also walk through a FIRE portfolio headed toward retirement and talk briefly about finding an advisor familiar with risk parity principles.And before that, in our Queen Mary segment, we hear a Fairfax CASA story about how consistent advocacy supports kids in foster care.Links:Fairfax CASA Donation Page: Donate - Fairfax CASANicholas's Gold Analysis Link: Plotting withdrawal rates, drawdowns, and returns for different risk parity portfolios - Google SheetsTestfolio Golden Backtests: testfol.io/?s=45IearFlQbVAfford Anything Episode #618: They Ran Out of Money. I Didn’t. Here’s WhyAfford Anything Risk Parity Portfolio Blueprint: Afford Anything frank-vasquez-risk-parity-portfolio-BluePrint.pdf - Google DriveOptimus Bill's Interview on Bigger Pockets Money: The Decumulation Strategy After Hitting Financial Independence | Bill YountOptimus Bill on Catching Up to FI: Founder of 'Catching Up to FI' Just Hit Financial Independence, Now What? | Bill Yount | 196Optimus Bill's Financial Advisor: Kardinal Financial — Flat Fee & Fee-Only Financial Advisor Bryan Minogue | Madison, WIBreathless AI-Bot Summary:A backtest can make almost any portfolio look brilliant, especially when one tweak “wins” by a fraction of a percent. We dig into one of the most common examples: gold allocation in a risk parity portfolio. If PortfolioCharts shows 20 to 25 percent gold beating 10 to 15 percent for safe withdrawal rate, should you follow the numbers or trust your nerves? We explain where the 10 to 15 percent “sweet spot” comes from, why tiny gold slices rarely matter, and how overfitting turns a clean chart into a fragile plan.From there we zoom out to the real skill: comparing imperfect portfolios without pretending the future will match the past. I share why you should use multiple calculators and multiple datasets, how start dates can change results, and why swapping managed futures, commodities, and gold can flip the outcome. The point is not a magic formula, it is a durable range of allocations that survives uncertainty and keeps sequence of returns risk from wrecking your retirement.We also tackle a detailed FIRE email from a 45-year-old aiming to retire in about five years. We talk expense tracking as the foundation of retirement planning, why liquid assets matter more than net worth, and how to upgrade diversification with Treasury bonds rather than corporate-heavy bond funds. Finally, we cover inflation protection realities, including why TIPS can still drop in a rate shock and why managed futures often behave differently when inflation spikes.If you found this useful, subscribe, share it with a friend planning retirement, and leave a review so more DIY investors can find Risk Parity Radio.Support the show
Transcribe →Episode 493: Our Raison D'etre, Common Investor Fallacies, UK Investing Notes, Treasury Bond Correlations, And Portfolio Reviews As Of March 13, 2026
Mar 1500:44:38Tap to summarizeIn this episode we answer emails from Lee, Leo, Tony, and Samuel. We revel in Lee's generosity and discuss why we hold gold and treasuries, why recent performance should not drive allocation changes and common amateur investor fallacies, how to think about diversification when you invest outside the US, and how to think about correlations in a four quadrant model.And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Links:Fairfax CASA Donation Page: Donate - Fairfax CASADavid Stein Interview: How to Think Clearly About Money Without Obsessing Over It with David Stein | White Coat InvestorPortfolio Charts International Portfolios Analysis: What Global Withdrawal Rates Teach Us About Ideal Retirement Portfolios – Portfolio ChartsMany Happy Returns Podcast with Tyler #!: Building a Bulletproof Retirement Portfolio, with Tyler from Portfolio Charts - Many Happy ReturnsMany Happy Returns Podcast with Tyler #2: How to Pick Your Perfect Portfolio, with Tyler from Portfolio Charts - Many Happy ReturnsClaudia Moise Paper with US Treasuries Correlation Data: Flights to Safety, Volatility Risk, and Monetary Policy by Claudia E. Moise :: SSRNBreathless Unedited AI-Bot Summaries:Gold is up, bonds are weird, and everyone suddenly wants to “swap something out” based on what happened last quarter. We slow that impulse down and get back to first principles: what job does each asset do in a long-term risk parity style portfolio, and what happens when you start making allocation decisions from a gut feeling about what looks overbought or hated right now?We dig into a listener question about replacing gold inside the Golden Ratio Portfolio and explain why utilities are not a true substitute. Utilities can be useful, but they behave like stocks more than people admit, and they often carry interest-rate sensitivity that overlaps with bonds. If you want something that behaves more like gold’s diversifying role, we talk through what characteristics matter most, including low correlation to both stocks and bonds, and why managed futures is the more logical comparison. Along the way, we call out the common traps that wreck DIY portfolios: cherry-picked dates, short-term volatility panic, and the “crystal ball” mindset that quietly turns investing into trading.For our non-US listeners, we tackle how being based in the UK or investing in pound sterling can change implementation details without changing the big picture goal. We discuss currency risk, home-country bias, why US equities still matter for global exposure, and the tough question of whether your bond ballast should be in local currency, US dollars, or a mix. Then we answer a deep question about correlations: why stock-bond correlation is not random, how it shifts across macro regimes, and why treasuries tend to deliver negative correlation when it matters most, during recessions.We close with weekly portfolio performance across our sample portfolios and why the most disciplined move is often to do nothing.Support the show
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