4.8 • 670 Ratings
🗓️ 1 May 2024
⏱️ 65 minutes
🧾️ Download transcript
In this episode, Cem and I welcome Christian Mueller Glissman back on the show, and together, we tackle the intricacies of capital allocation in 2024, particularly amid the pivotal elections we expect to see. We discuss the pros and cons of starting with a 60/40 portfolio allocation strategy. Cem and Christian highlight Europe's resilience to inflation and its potential energy cost advantages, making it an attractive investment destination. We also analyze how election cycles, especially during populist periods like now, influence the economy and markets. Christian shares insights on using structured products to manage volatility, and both he and Cem strongly advocate for strategies like trend following in current market conditions. Finally, we discuss what an optimal portfolio allocation should include in 2024.
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Episode TimeStamps:
02:39 - Christian's current big picture macro framework
07:22 - The role of volatility in inflation
12:20 - Should the 60/40 portfolio always be your starting point?
21:02 - What are the risks of the 60/40 portfolio not being the starting point?
27:37 - A scary situation in Europe?
32:16 - How election periods affect the economy
40:22 - A wall of worry
43:30 - Christian's thoughts on using structured products to reduce...
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0:00.0 | Will the US government care about the size of these companies, the dominance of those companies, |
0:13.0 | and the income inequality that comes with those companies? |
0:16.0 | You mentioned that earlier, Chem, like you could say, it's also another very popular topic. Is it correct that these companies are dominating the equity market, |
0:24.6 | dominating the economy, dominating portfolios, |
0:28.6 | dominating income wealth creation. |
0:30.6 | If you had them, great, if you didn't have them, |
0:33.6 | you're looking at very different returns. |
0:36.6 | Imagine spending an hour with the world's greatest traders. have them, you know, you're looking at very different returns. |
0:41.2 | Imagine spending an hour with the world's greatest traders. |
0:45.7 | Imagine learning from their experiences, their successes, and their failures. |
0:47.7 | Imagine no more. |
0:53.1 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world so you can take your manager, due diligence, or investment career to the next level. |
0:59.1 | Before we begin today's conversation, remember to keep two things in mind. |
1:03.0 | All the discussion we'll have about investment performance is about the past, and past performance does not guarantee or even infer anything about future performance. |
1:11.8 | Also understand that there's a significant risk of financial loss with all investment strategies, |
1:16.0 | and you need to request and understand the specific risks from the investment manager about their product |
1:21.5 | before you make investment decisions. |
1:23.9 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
1:33.3 | Welcome and welcome back to another edition of the Global Macro Series, where today, as usual, I'm joined by my co-host, Jim Kasang, as well as our very special guest, Christian Miller Gleisman, who is the head of asset allocation research |
1:45.4 | at Goldman Sachs and who's back to help us try and make sense of how investors should allocate their |
1:51.1 | capital in an ever-changing global economy, as well as in a year where we have an incredible |
1:56.6 | amount of important elections. Welcome back to the show, Christian, and thanks so much for |
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