Jim Masturzo's guest appearances

Jim Masturzo

Stansberry Investor Hour

Flirting with Models

Excess Returns 

Adam Butler

Jack Vogel

Kai Wu

Warren Buffett

Corey Hoffstein

Eric Crittenden

Tobias Carlisle

Meb Faber

John Alberg

Antti Ilmanen

Jack Schwager

Jason Hsu

James Damore

Lacy Hunt

Perth Tolle

OwlTail

We are currently in a very challenging time for building multi-asset portfolios. The 60-40 portfolios is coming off one of its best decades ever, but the expected future returns on both stocks and bonds are very low. And unprecedented monetary and fiscal stimulus have added additional variables into the equation. This week we talk to Jim Masturzo, who is a partner and head of multi-asset at Research Affiliates and also helped create their popular Asset Allocation Interactive tool, to try to make sense of all of this. We discuss their process for projecting expected returns and the challenge of building multi-asset portfolios in this environment, the role that potential future inflation plays in their process, and his thought process when looking at a new asset like Bitcoin. We hope you enjoy the discussion.  SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau

We are currently in a very challenging time for building multi-asset portfolios. The 60-40 portfolios is coming off one of its best decades ever, but the expected future returns on both stocks and bonds are very low. And unprecedented monetary and fiscal stimulus have added additional variables into the equation. This week we talk to Jim Masturzo, who is a partner and head of multi-asset at Research Affiliates and also helped create their popular Asset Allocation Interactive tool, to try to make sense of all of this. We discuss their process for projecting expected returns and the challenge of building multi-asset portfolios in this environment, the role that potential future inflation plays in their process, and his thought process when looking at a new asset like Bitcoin. We hope you enjoy the discussion.  SEE LATEST EPISODES <a href="https://www.validea.com/excess-returns-podcast" rel="nofollow" target="_blank">https://www.validea.com/excess-returns-podcast</a> FIND OUT MORE ABOUT VALIDEA <a href="https://www.validea.com/" rel="nofollow" target="_blank">https://www.validea.com</a> FOLLOW OUR BLOG <a href="https://blog.validea.com/" rel="nofollow" target="_blank">https://blog.validea.com</a> FIND OUT MORE ABOUT VALIDEA CAPITAL <a href="https://www.valideacapital.com/" rel="nofollow" target="_blank">https://www.valideacapital.com</a> FOLLOW JACK Twitter: <a href="https://twitter.com/practicalquant" rel="nofollow" target="_blank">https://twitter.com/practicalquant</a> LinkedIn: <a href="https://www.linkedin.com/in/jack-forehand-8015094" rel="nofollow" target="_blank">https://www.linkedin.com/in/jack-forehand-8015094</a> FOLLOW JUSTIN Twitter: <a href="https://twitter.com/jjcarbonneau" rel="nofollow" target="_blank">https://twitter.com/jjcarbonneau</a> LinkedIn: <a href="https://www.linkedin.com/in/jcarbonneau" rel="nofollow" target="_blank">https://www.linkedin.com/in/jcarbonneau</a>

An In Depth Look at Asset Allocation with Jim Masturzo of Research Affiliates

On today's rant, Dan gives an update on some of the biggest investing stories still flying under the radar – the rise of Bitcoin, and the growing herd of zombie companies in the United States. Dan shares some facts from the Bank of International Settlements that'll make your skin crawl. Then on this week's interview, Dan sits down with Jim Masturzo, who leads Research Affiliates Asset Allocation Research &amp; Trading Team. Jim oversees both the quantitative modeling used to manage the firm's portfolios and the firms daily trading efforts. Research Affiliates is an amazing website with free resources that can help any investor. During their conversation Jim discuss the firm's philosophy on investing allocation and risk, as well as new products designed to help investors meet their financial goals. And finally, on this week's mailbag, things get a little heated. Dan shares a couple emails from listeners giving their two cents on election fraud. One even challenges Dan and says his financial advice is in "dreamland." You won't want to miss Dan's response. Listen to Dan's full rebuttal and more on this week's episode.  

On today's rant, Dan gives an update on some of the biggest investing stories still flying under the radar – the rise of Bitcoin, and the growing herd of zombie companies in the United States. Dan shares some facts from the Bank of International Settlements that'll make your skin crawl. Then on this week's interview, Dan sits down with Jim Masturzo, who leads Research Affiliates Asset Allocation Research &amp; Trading Team. Jim oversees both the quantitative modeling used to manage the firm's portfolios and the firms daily trading efforts. Research Affiliates is an amazing website with free resources that can help any investor. During their conversation Jim discuss the firm's philosophy on investing allocation and risk, as well as new products designed to help investors meet their financial goals. And finally, on this week's mailbag, things get a little heated. Dan shares a couple emails from listeners giving their two cents on election fraud. One even challenges Dan and says his financial advice is in "dreamland." You won't want to miss Dan's response. Listen to Dan's full rebuttal and more on this week's episode.

Trending and Forecasting with Jim Masturzo

In this episode I speak with Jim Masturzo, Head of Asset Allocation at Research Affiliates. In his role, Jim oversees the research and publication of the firm’s capital market assumptions as well as the implementation of those views into a suite of tactical portfolios. We begin our conversation discussing the foundational assumptions behind the capital market assumptions. Like most firms, Research Affiliates takes a long-term view on return and risk. In line with the firm’s guiding philosophy, they also introduce long-term mean reversionary effects. Not surprisingly, these assumptions have been relatively bearish on U.S. equity returns for a large part of the last decade, and we discuss how to view the dispersion between these model forecasts and realized results. We then shift our conversation to the application of tactical views. With capital market assumptions serving as the strategic backbone, Jim and his team develop a number of regime-based model portfolios that can be blended to express different tactical views. But the team does not take a purely quantitative approach. Jim proactively acknowledges and seeks out model blindness. Rather than try to force idiosyncratic fixes into the models that might bias results, however, he and his team adopt qualitative trades to adapt the portfolios. From strategic to tactical and quantitative to qualitative, this is a wide ranging conversation all about asset allocation. I hope you enjoy.

In this episode I speak with Jim Masturzo, Head of Asset Allocation at Research Affiliates. In his role, Jim oversees the research and publication of the firm’s capital market assumptions as well as the implementation of those views into a suite of tactical portfolios. We begin our conversation discussing the foundational assumptions behind the capital market assumptions. Like most firms, Research Affiliates takes a long-term view on return and risk. In line with the firm’s guiding philosophy, they also introduce long-term mean reversionary effects. Not surprisingly, these assumptions have been relatively bearish on U.S. equity returns for a large part of the last decade, and we discuss how to view the dispersion between these model forecasts and realized results. We then shift our conversation to the application of tactical views. With capital market assumptions serving as the strategic backbone, Jim and his team develop a number of regime-based model portfolios that can be blended to express different tactical views. But the team does not take a purely quantitative approach. Jim proactively acknowledges and seeks out model blindness. Rather than try to force idiosyncratic fixes into the models that might bias results, however, he and his team adopt qualitative trades to adapt the portfolios. From strategic to tactical and quantitative to qualitative, this is a wide ranging conversation all about asset allocation. I hope you enjoy.

Jim Masturzo - Tactical Asset Allocation (S3E4)