Phil Toews of Toews Asset Management - What's Ahead in 2024?

Jan 23, 2024

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Phil Toews is Chief Executive Officer of the Toews Corporation and a Portfolio Manager of Toews Asset Management. His management strategies focus on creating “investor friendly” products designed to meet investors’ economic and behavioral needs. Phillip is the founder of the Behavioral Investing Institute, an organization devoted to helping advisors manage investor behavior through market challenges. Learn more at orion.com.

Key Takeaways

[03:55] - Phillip’s personal and career background.
[04:58] - What really sets Toews apart from other asset management firms?
[06:43] - Will this coming year be a case of the bears eating the “Goldilocks market?”
[08:58] - What are the odds that a recession is on the horizon?
[10:47] - Can we expect subsequent waves of inflation, as history might suggest?
[12:47] - Why is global debt a problem and what should investors be doing about their portfolios because of it?
[15:10] - What market scenarios do the terms “bezzle,” “bezzle fizzle” and “bezzle burst” describe?
[18:44] - What does Phil’s term “BFT” mean and how does it apply to investing?
[21:36] - How would Phil contrast a tactical strategy from a hedged strategy?
[24:48] - Are there any rough rules of thumb that Phil recommends for the respective portfolio weights for both trend following strategies or hedge strategies?
[28:42] - Words of wisdom for how financial advisors can properly utilize trend following and hedge strategies?
[31:30] - What is “National Investment Risk Day” and why did Toews help start this?
[37:11] - What is Phil’s favorite investment idea currently?

Quotes

[20:55] - "...People just are sort of not into the word ‘tactical’ anymore, and I think what’s happened over the years is that there are people out there that are trying to predict the markets and they haven’t done so well, and so I think it has gotten a little bit of a bad name…so we migrated that over to ‘trend following strategies.’" ~ Phil Toews

[32:32] - "Now Bitcoin is, or Cryptocurrencies are, the trifecta of dumb. No assets, no income or no projected income, so forget about a meme stock that potentially actually earns something one day - there’s nothing. [Yet] it has appreciated 18 million percent in the last 20 years, and only because [of that]...everyone says like…’I think this could be a legitimate thing, this could be a legitimate investment.’" ~ Phil Toews

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Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.