324: Former Public Pension Chairman Marc Levine On Investing During The Pension Crisis

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 29 June 2020

⏱️ 95 minutes

🔗️ Recording | iTunes | RSS

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Summary

Marc Levine is the Former Chairman of the Illinois State Board of Investment. He also started Chicago Asset Funding, which navigated the 2008 financial crisis very profitably. In this conversation, we discuss runaway pension liabilities, the disciplined systematic approach Illinois used to go from 3rd quartile of performance to top 8% in 3 years, the importance of overweighting tech and innovation, the index model of pensions, and what it will take to get Bitcoin in every pension portfolio. =============================== Our second sponsor is choice, a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp =============================== Pomp writes a daily letter to over 50,000 investors about business, technology, and finance. He breaks down complex topics into easy to understand language, while sharing opinions on various aspects of each industry. You can subscribe at https://www.pompletter.com

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp
0:05.3	podcast, simply the best podcast out there. Let's kick this thing off. Mark Levine is the former
0:12.5	chairman of the Illinois State Board of Investment. He also started Chicago asset funding, which
0:18.2	navigated the 2008 global financial crisis very profitably.
0:22.8	In this conversation, we discussed runaway pension liabilities, the discipline systematic
0:28.0	approach Illinois used to go from third quartile of performance to top 8% in three years,
0:33.6	the importance of overweaving tech and innovation, the index model of pensions, and what it will
0:39.7	take to get Bitcoin in every pension portfolio. I really enjoyed this conversation with Mark,
0:45.3	and I hope you do as well. Before we get into the episode, though, I want to quickly talk
0:49.6	about our sponsors. The first is Block 5. I'm a really happy user and an investor in the company. They currently
0:56.5	have three products. The first allows you to buy and sell cryptocurrencies. The second allows you to
1:01.1	deposit crypto and take out a US dollar loan against your collateral. And the third is my
1:06.0	favorite product, which allows you to deposit crypto or a stable coin and earn up to 8.6% interest in an interest-bearing account.
1:14.6	BlockFi's been growing super fast,
1:16.8	and they've got a ton of cool products on the horizon,
1:19.7	including a Bitcoin's reward credit card.
1:21.6	So go check them out at blockfi.com slash pomp.
1:25.4	Again, blockfi.com slash pomp. Next is choice. There are second
1:30.8	sponsor. Choice is a new self-directed IRA product that I'm really excited about. If you're
1:36.2	listening to this, you're probably part of the 7.1 million Bitcoin owners who have retirement
1:40.9	accounts with dollars in them, but not Bitcoin. I was in that situation
1:44.3	too, but that's no longer the case. I'm now a choice user. You can now actually buy Bitcoin,
	...

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