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Cullen Roche Drops by to Talk Perfect Portfolios

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Jan 26, 2026

Guest

Cullen Roche

Cullen Roche, founder of Discipline Funds and author of Your Perfect Portfolio, breaks down portfolio construction and popular strategies. He compares 60/40, risk parity, Buffett-style approaches and permanent portfolios. They explore diversification limits in crises, trend-following as a true diversifier, behavioral traps, and practical implementation tips.

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Episode notes

insights

INSIGHT

Perfect Is Personal

Cullen Roche argues there is no single perfect portfolio and the goal is to find one that works for you.
He frames portfolio-building around ten principles and practical strategy comparisons to guide individual fit.

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ADVICE

Keep Strategies Implementable

Cullen shows simple, implementable methods for complex strategies like risk parity instead of replicating institutional complexity.
He recommends keeping implementations achievable so individual investors won't get overwhelmed.

insights

INSIGHT

Perfect Is The Enemy Of Good

Cullen warns that trying to perfect a portfolio often makes outcomes worse due to complexity and behavior.
He advises that "perfect is the enemy of the good" when designing investable portfolios.

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Cullen's Writing Origins and Book Intro

01:51 • 2min

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Book Purpose: No Single Perfect Portfolio

03:30 • 2min

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Portfolio Strategies Covered In The Book

05:10 • 2min

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How Readers Use The Book: Practical Chapters

06:46 • 1min

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Implementation Details and Simplicity

08:04 • 1min

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Behavioral Risks and 'Perfect Is The Enemy'

09:26 • 1min

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When Diversification Fails Under Stress

10:39 • 1min

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Time Horizons and The Permanent Portfolio

11:50 • 1min

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Tradeoffs Of All-Weather Diversifiers

12:59 • 1min

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Trend-Following CTAs As True Diversifiers

14:09 • 2min

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Behavioral Challenges With Alternative Diversifiers

15:43 • 1min

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Advisors: Discipline, Hand-Holding, And Communication

17:04 • 2min

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Know Instruments And Manage Expectations

18:50 • 1min

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Stocks' Long-Term Edge Versus Short-Term Noise

20:03 • 1min

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Complex Current Economy And Fragmented Experiences

21:18 • 1min

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Housing Affordability And Generational Frustration

22:28 • 1min

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Long-Term Housing Dynamics And Slow Adjustment

23:42 • 1min

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AI Winners Versus The Left-Behind

24:57 • 1min

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The Cost Of Sitting Out Long Rallies

26:09 • 1min

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Hold Through Long Recoveries: NASDAQ Example

27:19 • 1min

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Diversification Stronger Now Than Ever

28:40 • 2min

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Expectations: Diversification Means Missing Big Rallies

• Mentioned in 6 episodes

Your Perfect Portfolio

The ultimate guide to using the world's most powerful investing strategies

Cullen Roche

In Your Perfect Portfolio, Cullen Roche draws on two decades of experience to help readers identify the right investment strategy for their personal needs. Blending timeless investing wisdom with modern research, the book outlines ten essential principles of portfolio construction and dissects more than 20 of the world's most influential strategies, from Warren Buffett's approach to trend-following tactics. Whether hands-on or preferring automation, it provides tools to build a secure portfolio and achieve financial independence.

#6430

• Mentioned in 7 episodes

Pragmatic capitalism

Cullen Roche

Pragmatic Capitalism offers insights into personal finance, financial market behavior, and portfolio construction. It introduces 'Monetary Realism,' a macroeconomic framework that challenges common myths in economics and finance. The book emphasizes understanding the modern monetary system and applying a pragmatic approach to investing.

On this episode of Live From the Compound, Downtown Josh Brown hosts Cullen Roche, founder of Discipline Funds and author of the new book, Your Perfect Portfolio. Cullen walks investors through the most important points about 60/40 strategies, risk parity, investing like Buffett and other popular strategies.

Get Cullen's book here: https://www.amazon.com/Your-Perfect-Portfolio-investing-strategies/dp/1804091928

This episode is sponsored by Betterment Advisor Solutions. Learn more at http://Betterment.com/advisors

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