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Well, we've got problems with the 60, we've got problems with the 40, and we've got problems with

the relationship between the 60 and the 40, even in the best possible period, the generational

bull market and bonds over the past 30 years. This particular portfolio didn't work all that well.

Hello, and well, have my intro's been getting like too shouty? I mean, I feel like I come in as

hello, Jack. Well, I mean, I usually know where the volume on the intro, because it is a little,

you sort of like, it's like a balloon that's very full right at the beginning. So you say no,

you say no, but then you tell me that you have to physically change the machinery because I'm

blowing out the audio equipment. I like, we're going to do a mellow one. You ready? Make it nice.

This is going to be smooth jazz on this one. Wow. Hello. Welcome to the Baron Street Wise podcast.

I'm Jack Howe. The voice you just heard, it's Jared Woodard, and he's the head of the Research

Investment Committee for Bank of America Secure at B of A Securities. And as you just heard,

he's taking on one of the basic foundations of long-term investing. The 60, 40 portfolio ahead

will hear what he doesn't like about it and how he thinks ordinary investors can do better.

How do you how do you feel about that relaxing or that was quite an experience? Listening in is our

audio producer, Meta. Hi, Meta. Hey, Jack. We're going to hear from Jared in a moment about 60, 40

investing, but should I tell people are the people who might not know what we mean by 60, 40?

I think it can't harm to talk a little bit about it. We're talking about asset allocation.

60% refers to the stocks, 40% refers to the bonds. Those are not set percentages. You would

...