Jim Masturzo - Fragile Markets, Strong Portfolios: 2025 Asset Allocation Playbook | #570

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 14 February 2025

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s guest is Jim Masturzo. Jim is the CIO of Multi-Asset Strategies at Research Affiliates and is responsible for the firm’s tactical asset allocation and cross-asset portfolios. He is also co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds. In today’s episode, Jim & I discuss the evolving landscape of asset allocation. He highlights the fragility of US markets amid high valuations, the divergence between China & India, and why private equity expectations may not align with public equity fundamentals. He also explores the current landscape of fixed income and explains why he thinks the impact of AI on productivity may not be as positive as expected. P.S. – do you know the origin of the 60/40 portfolio? Shoot us a message at [email protected]. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor show, where the focus is on helping you grow and preserve your wealth.
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0:19.5	Metfabor is the co-founder and chief investment officer at Cambria Investment Management.
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0:33.9	The market for organic food approached 70 billion in 2023 and is expected to reach 144 billion by
0:41.0	2032. Still, less than 1% of U.S. farmland is certified organic. With more than 18,000 acres in a 15-year
0:50.5	track record of success, Farmland LP is one of the largest investment funds in the United
0:55.3	States focused on the organic market. Their value-ad strategy of converting conventional farmland
1:00.9	into organic and regenerative farmland is designed to increase gross margin per acre and achieve
1:06.8	above market appreciation while benefiting the environment. Their third regenerative farmland
1:12.2	fund is now open to accredited investors but will close in Q2 2025. To learn more, visit the
1:18.7	Farmland LP link in the show notes page or email IR Team at farmlandlp.com. Don't forget to mention
1:25.9	you heard it here on the MebFavor Show.
1:29.8	Welcome back, everybody. We got an awesome show today. Our guest is Jim Masturzo. Jim is the
1:35.1	CIO of multi-asset strategies at research affiliates. We've probably had more alums on from
1:40.9	this company than any. He's responsible for the firm's tactical asset allocation
1:45.6	cross-asset portfolios. He's also the co-portfolio manager on the PIMCO, all asset, all
1:51.7	authority funds. We're going to talk about asset allocation today, Jim's process, what he sees in
1:56.6	markets. What's going on? Jim, welcome the show. Hey, Mab. Good to see it. All right, I got a tough
	...

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