Adrian Helfert, chief investment officer of Westwood Holdings Group (AUM ~$16B), joins Forward Guidance to share his quantitative approach to asset allocation. He explains why, even with the drastic surge in interest rates, he prefers an overweight allocation to equities over bonds. Filmed on February 21, 2024.

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Timestamps:

(00:00) Introduction

(00:54) Stocks Vs. Bonds

(05:19) Upside Downside Capture On Bonds

(08:24) Overweight Stocks Over Bonds

(21:44) VanEck Ad

(22:29) Stock Market Valuations

(30:51) Return Attribution In Equity Portfolio

(37:26) Breadth In Stock Market

(45:00) Notion of "Equity Duration" Is Mostly Just A Narrative

(49:11) Comparisons To Dot Com Bubble

(53:40) Bond Market Outlook on Credit & Duration Risk

(55:55) The Fed And The Wealth Effect As The "Third Leg Of The Monetary Policy Stool"

(57:01) Are Financial Conditions Tight Or Loose?

(01:01:52) Investing With An Income Focus

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Podcast 144 - VR & EMS Education