We're excited to bring you a new show, Raise Your Average, where we'll bring today's investment luminaries and leading advisors together to debate and discuss today's most relevant market topics in roundtable panels.
In the first episode of this new show, Meb Faber, founder of L.A.-based Cambria Investment Management, and Marc Dalpé, Portfolio Manager at Richardson Wealth chat with Raise Your Average co-hosts Pierre Daillie, Managing Editor, AdvisorAnalyst.com, and Mike Philbrick, President, of ReSolve Asset Management SEZC, for a deep-dive exploration around the subject of how to solve The 60/40 Portfolio Puzzle.
For decades, a balanced portfolio of stocks and bonds has been the highly regarded staple of investing. It’s a concept that has been under fire well before COVID happened, but as 2020 unfolded, the 60/40 Portfolio has continued to confound its critics.
With yields on 10-year Canada bonds and US Treasuries having descending to record low levels (5,000 year lows) and stocks climbing to all time historical highs, its anybody’s guess as to what happens the next ten years.
Can we look at government bonds for income anymore? Can we still count on bonds to continue to provide the ballast to portfolios anymore. The prognosis is challenging.
What about stocks? What are the forward looking returns for stocks? And moreover, what stocks?
Meb Faber is the CIO and founder of Cambria Investment Management, based in California. They run a number of well known ETFs as well as separate accounts for individual investors. Meb also has a popular blog, is a prolific author of 6 published books, and hosts his own terrific podcast, The Meb Faber Show, where he’s interviewed hundreds of other investors. He’s a brilliant quant who’s launched some really interesting products. We’ve asked him to come on and talk about what is HIS answer to this dilemma we all face.
Marc Dalpé is a successful portfolio manager and advisor at Richardson Wealth where he runs the DalpéMillette Group advisory practice. Marc has been an advisor since 1990, and he and his partners founded their advisory partnership in 1998. Marc has always been way ahead of the curve as an advisor, and more significantly as a fee-based discretionary portfolio manager, with both the use of ETFs and actively managed funds.
All Time Highs A Good Time to Invest? No. A Great Time. (White Paper by Meb Faber) - https://www.cambriainvestments.com/wp-content/uploads/2020/05/20200530.AllTimeHighs.UPDATE3.pdf
Marc Dalpé, Richardson Wealth - https://web.richardsonwealth.com/dalpe.milette/
Michael Philbrick, ReSolve Asset Management SEZC - https://www.investresolve.com
ReSolve Asset Management Podcast - https://investresolve.com/podcasts/
ReSolve Asset Management Blog - https://investresolve.com/blog/