Trying to optimize is what hurts you.
Kenny Polcari opens with the oldest question in retail investing and gets two different answers. David Miller, Co-Founder and Chief Investment Officer of Catalyst Capital Advisors, argues the 60/40 mix only works when rates are falling. Chad Morganlander, Senior Portfolio Manager and Co-Founder of Washington Crossing Advisors, defends it for someone near retirement and warns that trying to optimize is where retail investors hurt themselves. Then they turn to the debt, what it does to rates, and why both of them think Congress matters more than the Fed.
Timestamps:
00:00 Is the 60/40 mix still relevant
00:41 The case that it only works when rates are falling
00:58 The case for keeping it simple and laddering bonds
01:40 Who 60/40 was actually built for
02:48 Where retail investors hurt themselves
03:39 What the word alternatives actually covers
04:33 Strategies built for when correlations go to one
05:43 Matching the approach to the investor
07:27 Core and satellite, offense and defense
08:30 Where rates go next, and the debt behind them
09:42 Global rates, fiscal stimulus, and the two-year
10:14 Whether the long end can be controlled at all
10:43 The argument for moving faster
11:11 A return to Greenspan-style guidance
12:17 Inflate, grow, or cut: the three ways out
15:17 The pull of a guaranteed yield, and the math behind it
15:42 What happened the last time cash paid 20 percent
17:03 Multiples then against multiples now
18:06 How much of the index is one sector
18:49 The factor that actually drove three years of returns
20:34 Where to look when tech is under pressure
23:12 Oil, the midterms, and why Congress is the real issue
24:36 The year-end view
Featuring:
Kenny Polcari, Host, Trader Talk, Yahoo Finance
David Miller, Co-Founder and Chief Investment Officer, Catalyst Capital Advisors
Chad Morganlander, Senior Portfolio Manager and Co-Founder, Washington Crossing Advisors
Kenny Polcari gives it to you straight. New episodes Wednesdays at 5pm ET.
#TraderTalk #YahooFinance #Investing #Retirement #Rates #StockMarket
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