Main Topics Covered:
Strategies for handling market uncertainty and avoiding rash decisions during volatile times.
The benefits of simplicity in investing and why the industry pushes complexity.
Debunking the myth of the "dead" 60/40 portfolio and tailoring asset allocation to individual needs.
Practical tips for sticking to your asset allocation through market ups and downs.
How inflation impacts portfolios and why personal inflation rates matter.
The case for international diversification and its long-term benefits.
Thoughts on economic policies like tariffs and their potential effects on markets.
Direct indexing: who it’s for, who it’s not for, and how it’s often oversold.
Why active management struggles to outperform, despite persistent marketing efforts.
Evaluating alternative investments like private credit and their risks.
Addressing the "age in bonds" rule of thumb and its relevance for different investors.
Questions to ask financial advisors to ensure you’re getting value for your fees.
Rick’s evolution as an investor and the four stages to simplicity.
An overview of the Core Four portfolio and its alignment with economic realities.
Approaches to rebalancing and when to let asset allocations glide.
Rick’s unique view on separating advisor fees for advice and asset management.
Timestamps:
00:00:00 - Introduction and Rick’s investing philosophy
00:02:00 - Handling market uncertainty
00:04:00 - Benefits of simplicity in investing
00:06:00 - The 60/40 portfolio discussion
00:08:00 - Practical tips for sticking to asset allocation
00:10:00 - Inflation and portfolio construction
00:12:00 - International diversification
00:16:00 - Tariffs and economic implications
00:20:00 - Direct indexing explained
00:24:00 - Active management’s underperformance
00:29:00 - Private credit and alternative investments
00:31:00 - Comparing today’s market to the 1970s
00:33:00 - The "age in bonds" rule
00:37:00 - Questions for financial advisors
00:41:00 - Rick’s evolution as an investor
00:46:00 - The Core Four portfolio
00:49:00 - Rebalancing strategies
00:52:00 - Rick’s take on advisor fees
Related Videos
Behind the Madoff Scandal with a Trader on the Inside | Andrew Cohen
In this episode of Excess Returns, Matt Zeigler sits down with Andrew Cohen, who shares his extraordinary journey from Goldman Sachs trader to working directly with Bernie Madoff, and ultimately becom...
The Colossal Mistake | Richard Bernstein on the Risks of Tariffs and Passive Investing
Join hosts Matt Zeigler and Justin Carbonneau as they sit down with Richard Bernstein, CEO and Chief Investment Officer of Richard Bernstein Advisors. In this insightful conversation, Rich shares his ...
Markets Are Screaming One Thing | Jim Paulsen on the Real Risk to the Bull Market
In this episode of Excess Returns, we are joined by Jim Paulsen of Paulsen Perspectives. We unpack the complexities of tariffs, Federal Reserve policies, and investor psychology amidst a turbulent mar...