Insightful Investor #63 - Paul Podolsky: Art and Science in Investing
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Mar 25, 2025 In this conversation, Paul Podolsky, Founder and CIO of Kate Capital and former portfolio strategist at Bridgewater Associates, shares his wealth of knowledge in investing. He explores the fusion of art and science in investment strategies, discussing the complexities of market volatility and the necessity for personalized approaches. Paul critiques conventional wisdom, particularly the risks tied to relying on the S&P 500, and delves into the critical roles of gold and Bitcoin as diversifiers. He highlights the importance of adapting strategies amidst geopolitical uncertainties.
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Investing's Uncomfortable Truth
- All asset prices are fundamentally unstable, despite the investment industry's attempts to portray stability.
- Accept this inherent instability and choose investments with tolerable risk levels.
Honesty in Investing
- Honestly assess your ability to predict market turns.
- If you lack consistent success, consider a stable, passive investment strategy.
Traits of Great Investors
- Great investors imagine futures different from current prices and soberly weigh pros and cons.
- They're similar to writers, creating new worlds, but with market implications.
