The Meb Faber Show - Better Investing Austin Root, Stansberry Asset Management - The Case For Productive Assets | #509
Nov 22, 2023
Austin Root, Chief Investment Officer of Stansberry Asset Management, discusses financial planning, private credit, investing approaches, and the role of gold in portfolios. They also explore investing globally, preference for recurring revenues, and opportunities in different sectors. The chapter concludes by discussing the importance of letting winners run and success stories like Domino's Pizza.
AI Snips
Chapters
Transcript
Episode notes
Combine Planning With Active Management
- Marry holistic financial planning with active investment management to serve clients better.
- Build in-house capabilities where possible and use outside managers for private markets expertise.
Use A Barbell Of Cash And Growth
- Use a barbell approach: keep some T-bills as dry powder and own high-quality growth equities for upside.
- Weight the barbell according to your client's goals and time horizon.
Play Offense With Productive Assets
- Put capital at risk in productive assets if you won't need the money for years to protect purchasing power.
- Seek cash flows that exceed inflation and your personal cost of capital on a prudent risk-adjusted basis.