Listen on The Move
Most advisors have zero alternatives in their portfolios — and their clients are already paying the price.
In this episode of Insight Is Capital, host Pierre Daillie sits down with Paisley Nardini, Managing Director and Head of Multi-Asset Solutions at Simplify Asset Management, for a frank and data-driven conversation about why the traditional 60/40 portfolio is showing dangerous cracks — and what advisors can do about it right now.
Paisley brings rare clarity to one of the most misunderstood corners of modern portfolio construction: liquid alternatives. Drawing on her career spanning PIMCO, Invesco, and Simplify, she walks through the persistent behavioral and educational barriers keeping advisors away from managed futures, the case for dynamic commodity exposure in an era of geopolitical volatility, and why the stock-bond correlation regime has fundamentally shifted. She shares a stat she rechecked ten times — managed futures at the benchmark index level has outperformed bonds across every trailing period from 5 to 25 years — and makes the case that this isn't a niche strategy for institutions anymore. It's a daily-liquid, low-fee, Morningstar five-star tool sitting right on the advisor's shelf. If your portfolio isn't built for this environment, what is it actually built for?
Chapters
00:00 — The stat Paisley rechecked 10 times: managed futures vs. bonds across every trailing period
02:11 — Major asset managers launching managed futures ETFs and adding them to model portfolios
02:51 — Introduction: Pierre Daillie welcomes Paisley Nardini, Simplify Asset Management
04:23 — Why diversification is more urgent now than it was a year ago
05:01 — Deja vu: the eerie parallels between early 2025 and early 2026
06:39 — Markets are spring-loaded: the bull case for staying invested through volatility
09:00 — Why you can't build portfolios around week-to-week geopolitical headlines
10:31 — The range-bound 10-year yield and what could finally break it
13:56 — The inflation threshold that breaks stock-bond correlation
17:38 — The biggest risk advisors are still ignoring: under-allocation to diversifiers
19:32 — Why commodity allocations have underdelivered — and how to fix that
20:28 — Gold's strange behavior in 2025: momentum trade, not safe haven
22:33 — The cocoa example: truly uncorrelated risk and return
25:08 — Why managed futures adoption is a behavioral problem, not an investment problem
37:48 — The illusion of diversification: how a basic 60/40 leaves investors exposed
38:29 — Liquid alts demystified: daily liquidity, no K-1s, fees as low as 30 basis points
41:06 — Five years ago this wasn't possible: the democratization of institutional strategies
42:18 — The two-legged stool: why portfolios need a third leg
43:25 — How much to allocate: why less than 10% probably won't move the needle
44:27 — Why Simplify's CTA ETF deliberately excludes equities and FX
49:13 — The hedge that pays you: outperforming 60/40 while providing ballast
49:39 — Positioning multi-asset portfolios for the commodity super cycle
51:57 — How advisors can explore Simplify's model portfolios as a starting point
55:57 — Paisley's 12-month prediction: rates will surprise everyone
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