We Study Billionaires - The Investor’s Podcast Network

TIP523: Financial Wisdom w/ Cullen Roche

Feb 12, 2023

Cullen Roche, an investment expert and author of "Pragmatic Capitalism," joins the discussion to share his insights on financial independence and portfolio optimization. He breaks down the differences between CPI and PCE, debates the role of elected central bankers, and discusses the impacts of a decoupling world on inflation and the US dollar. Roche also addresses the concept of balance sheet recessions, questions the future performance of the 60/40 portfolio, and explores how new generations of investors approach risk and resilience.

01:19:53

Episode guests

Cullen Roche

Highlights

AI Chapters

Episode notes

Crysis always feels different/for real this time - but always recover

00:55

Asset classes = time horizon based

03:35

Why the Markets Aren't as Efficient as They Used to Be

03:34

Intro

4min

Understanding Price Indices: PCE vs. CPI

4min

Central Banks and Inflation: A Complex Balance

14min

Global Implications of the Eurodollar Market

5min

Balancing Economies: Past and Present

27min

Navigating Bitcoin Security and Investment Guidance

3min

Investing Beyond Returns

25min

Stig Brodersen has invited back investment expert Cullen Roche to discuss how to optimize your portfolio for financial independence and sleeping well at night.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:05 - What the difference is between CPI and PCE.

08:31 - Whether central bankers should be elected?

14:46 - What the velocity of money is, and how it impacts inflation?

19:08 - What it means for inflation and the US dollar that the world is decoupling.

28:19 - What a balance sheet recession is and why it is important to understand investors.

34:15 - Whether the 60/40 portfolio is still working.

41:02 - Which longer cycle we are missing in the financial markets.

41:34 - Whether the next 40 years of stock market performance will look like the previous 40 years.

46:28 - Whether central banks fight global warming?

54:31 - Which portfolio to build for independence and sleeping well at night.

1:09:30 - Which bias does the new generation of investors have.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Listen to Stig's interview with Cullen Roche about Macro Investing - TIP486 or watch the video.
Related Episode: Listen to Inflation Masterclass Continued - TIP472 or watch the video.
Related Episode: Listen to Inflation Update and the recent FOMC Meeting - TIP420 or watch the video.
Cullen Roche's website, The Discipline Funds.
Cullen Roche's website, Pragmatic Capitalism.
Tweet directly to Cullen Roche.
Email Cullen at cullenroche@orcamgroup.com.
Cullen Roche's YouTube channel.
Cullen Roche’s book, Pragmatic Capitalism – Read reviews here.
Gavin Jackson’s book, Money in One Lesson - Read reviews here.

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