Andy Constan on Lessons From Bridgewater, Equity Valuations and Top Trades
Macro Hive Conversations With Bilal Hafeez
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Do You Have a Balanced Portfolio?
When you have portfolio that has a lower risk adjusted returrn, there 're lots of ways to tweak your exposures using derivatives. I think for a portfolio that's designed to be long term and passive, that's probably not the right thing to do. Unfortunately, we're in a world in which less risk means more cash. In such a world, when you have inflation, that cash wastes away. And so i don't have a simple answer to what you do, but without a doubt, the first principle is to reduce risk.
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