Resolve Riffs Investment Podcast
Jack Shannon: Unveiling the Future of Active Management and ETFs
Mar 8, 2024
A discussion with Jack Shannon from Morningstar on active equity management, downside protection, and challenges faced by managers in deviating from benchmarks. Topics include fund flows, risk management, growth vs value investing dynamics, and the importance of understanding market history for successful investing.
58:27
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Quick takeaways
- Preserving capital on the downside is crucial due to the asymmetric nature of returns where losses have a more significant impact than gains.
- Active equity managers face dilemmas regarding whether to closely track a benchmark or take bold deviations in their portfolios.
Deep dives
Importance of Downside Protection in Investment
Preserving capital on the downside is crucial due to the asymmetric nature of returns, where losses have a more significant impact than gains. Investors often focus on potential gains but need to shift their focus to downside risk management, especially when buying into equity funds.
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