ALO19: Managing Wealth for HNW Investors ft. Joe Prendergast
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 670 Ratings
🗓️ 3 January 2024
⏱️ 65 minutes
🧾️ Download transcript
Summary
In this episode Joe Prendergast, Strategic Advisor and Head of Investment Strategy at Goodbody joins Alan Dunne to discuss the challenges and opportunities in managing wealth for HNW investors, particularly businesses owners. Joe outlines his investment philosophy and why a 50-50 allocation between growth assets and defensive assets is still at the core of his approach to proving a “peace a of mind” portfolio for investors. They discuss risk management and how to manage drawdown risk and the shortfalls of focusing too much on volatility as a risk measure when managing portfolios for private investors. They delve into the current investing backdrop, how higher interest rates have impacted asset allocation decisions and discuss why Joe is structurally more upbeat on the opportunities in public markets in the US but more optimistic on the opportunities in Europe and Asia for private equity.
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Episode TimeStamps:
02:46 - Introduction to Joe Prendergast
04:50 - Prendergast's learnings from working at Credit Suisse
07:00 - What types of portfolios are Prendergast running?
09:49 - Prendergast's investment philosophy
13:59 - How has 2022 changed the asset allocation space?
16:32 - Could we have another 2022?
18:56 - Having metrics for success
26:50 - Managing cash...
Transcript
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| 0:00.0 | I just think keeping creative and, of course, you're using data as much as you can, |
| 0:12.1 | embracing the contradictions, you know, keep it simple, but also think laterally and be creative. |
| 0:18.8 | You know, learn to distinguish, you know, what's a fact and what's |
| 0:22.0 | speculation, you know, when people are speaking. I think that's incredible. There's a lot of lazy |
| 0:27.1 | supposition out there. And most importantly, remember, nobody knows anything for sure. So do be |
| 0:33.5 | skeptical. But again, don't let that stop you making decisions and having a strategy. |
| 0:39.5 | And then once you have a strategy, which is totally different from a trade, you know, sticking |
| 0:43.0 | to the plan. |
| 0:43.8 | That's always my line. |
| 0:45.3 | Stick to the plan. |
| 0:48.7 | Imagine spending an hour with the world's greatest traders. |
| 0:52.4 | Imagine learning from their experiences, their successes, |
| 0:55.2 | and their failures. Imagine no more. Welcome to Top Traders Unplugged, the place where you can |
| 1:02.2 | learn from the best hedge fund managers in the world so you can take your manager, due diligence, |
| 1:06.9 | or investment career to the next level. Before we begin today's conversation, remember to keep two things in mind. |
| 1:13.5 | All the discussion we'll have about investment performance is about the past, |
| 1:17.2 | and past performance does not guarantee or even infer anything about future performance. |
| 1:22.3 | Also understand that there's a significant risk of financial loss with all investment |
| 1:26.0 | strategies, and you need to request |
| 1:27.9 | and understand the specific risks from the investment manager about their product before |
| 1:32.4 | you make investment decisions. |
| 1:34.4 | Here's your host, veteran hedge fund manager, Nealz Kostrup Larson. |
... |
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