Trevor Slaven joins the podcast to discuss the rationale for and conclusions of his recent piece, Replacing Equity Beta with High-Carry Credit.

Episode Segments:
(0:00) – Intro
(01:24) – The case for replacing generic equity beta with credit
(04:34) – What’s true today (in markets) that wasn’t true over the last 15 years
(08:38) – Assessing US equity vs. fixed income valuations
(10:14) – Rapid growth of AI companies, concentration risk and if ‘this time is different’
(19:59) – Understanding the portfolio impact of replacing equity beta for credit
(24:19) – Playing devil’s advocate on diversification and tech exposure
(30:07) – How investors might action an allocation shift

Link to Trevor’s paper: Replacing Equity Beta with High-Carry Credit

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