Alan Dunne is joined today by Elizabeth Burton to discuss managing a public fund versus a private fund, the challenges to those invested in the traditional 60 / 40 portfolio, the current outlook for inflation, performing above expectations, how to re-position a portfolio for higher expected inflation, fixed income versus real assets, categorising asset classes effectively, the limits of mean variance optimisation, using historical perspectives as an input into current decision-making, difficulties in the manager selection process, and how to simplify complex ideas in order to communicate more efficiently.

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50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE

In this episode, we discuss:

The outlook for inflation
Achieving high performance consistently
How to re-allocate a portfolio accordingly
Mean variance optimisation
Whether this time is different
Selecting the right manager
Simplifying complexity for better understanding

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Episode TimeStamps:

00:00 - Intro

03:30 - Elizabeth’s background and history in the investment world

04:55 - Elizabeth’s perspective on today’s markets

06:52 - Managing a public fund versus a private fund

08:14 - Performing above expectations

09:38 - The current outlook for inflation

11:31 - How to re-position a portfolio for higher expected inflation

13:57 - Fixed income versus real assets

14:51 - Categorising asset classes effectively

19:56 - The limits of mean variance optimisation

21:59 - Using historical perspectives as an input into current decision-making

24:09 - Whether this time really is different

25:25 - Difficulties in the manager selection process

28:35 - Choosing between macro and systematic investors

30:08 - The pitfalls of investing with macro traders

32:40 - Investing in a manager who includes crypto in their portfolio

34:34 - Allocating between systematic and discretionary managers

36:45 - How to screen for a good money manager

40:44 - How to respond when a manager is underperforming

43:48 - Process over outcome

47:04 - Working with consultants

52:27 - Lessons from a leadership coach

57:00 - Simplifying complex ideas for better communication

01:00:28 -Advice for aspiring allocators

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Disclaimer

ALO03: Lessons from a $25 billion CIO ft. Elizabeth Burton