Aug 15 2024 77 mins
Bob Elliott, CEO, and CIO at NYC-based Unlimited Funds joined us on the show. We discuss his 13 years experience at Bridgewater Associates (10 years as head of Ray Dalio's investment research team), and the lessons he learned from the Global Financial Crisis. We get into the more recent period of ecomomic upheaval, and today's macroeconomic landscape. Bob shares his unique take on diversification, dissecting inflation, interest rates, as well as, for example, the impact deglobalization and reshoring may have on the U.S. economy. We explore Unlimited Funds' innovative strategies of hedge fund-like replication that everyday investors can now access, at far lower cost than 2&20 strategies. Bob stresses the significance of balancing risk in portfolios. He also shares insights on managing portfolio volatility, behavioral economics, and disciplined trading practices, offering invaluable advice on market assumptions and investment management.
Timestamped Highlights
00:00 Introduction and Host Greetings
01:36 Guest Introduction: Bob Elliott
02:41 Bob's Experience at Bridgewater
03:47 Lessons from the Global Financial Crisis
11:38 Current Macroeconomic Conditions
26:57 Impact of Interest Rates and Inflation
37:22 Gold as an Investment
41:16 Gold vs Bonds: A Comparative Analysis
42:14 Generational Perspectives on Gold
42:36 Understanding Economic Regimes
44:17 Strategic Portfolio Management
44:46 Challenges of Beating the Market
46:30 Accessing Top-Tier Asset Managers
47:33 The Role of Diversification
48:37 Replication and Manager Risk
51:19 Behavioral Aspects of Investing
01:03:09 Wealth Accumulation vs Wealth Management
01:04:59 Building a Robust Savings Portfolio
01:15:48 Final Thoughts and Best Advice