In this episode Joe Prendergast, Strategic Advisor and Head of Investment Strategy at Goodbody joins Alan Dunne to discuss the challenges and opportunities in managing wealth for HNW investors, particularly businesses owners. Joe outlines his investment philosophy and why a 50-50 allocation between growth assets and defensive assets is still at the core of his approach to proving a “peace a of mind” portfolio for investors. They discuss risk management and how to manage drawdown risk and the shortfalls of focusing too much on volatility as a risk measure when managing portfolios for private investors. They delve into the current investing backdrop, how higher interest rates have impacted asset allocation decisions and discuss why Joe is structurally more upbeat on the opportunities in public markets in the US but more optimistic on the opportunities in Europe and Asia for private equity.

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Episode TimeStamps:

02:46 - Introduction to Joe Prendergast

04:50 - Prendergast's learnings from working at Credit Suisse

07:00 - What types of portfolios are Prendergast running?

09:49 - Prendergast's investment philosophy

13:59 - How has 2022 changed the asset allocation space?

16:32 - Could we have another 2022?

18:56 - Having metrics for success

26:50 - Managing cash flow

31:43 - Shooting for a higher return

39:33 - Dealing with bumps on the road

43:48 - Prendergast's experience with the hedge fund industry

46:29 - Working as a Europe based FX investor

51:10 - Balancing attractive earnings capabilities vs a higher valuation starting point

55:13 - How Prendergast incorporates ESGs in his allocation

59:46 - Advice for other investors

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Disclaimer

ALO19: Managing Wealth for HNW Investors ft. Joe Prendergast

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