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The Compound and Friends

The 60/40 Portfolio is Dead. Again.

The Compound and Friends

Josh Brown

Business News, Business, Investing, News

4.72.2K Ratings

🗓️ 15 October 2021

⏱️ 85 minutes

🧾️ Download transcript

Summary

On this week's episode of The Compound & Friends, Michael Batnick, Blair duQuesnay, Eddy Elfenbein, and Downtown Josh Brown discuss how Blackrock got so big, the death of the 60/40 portfolio, Project Thunder, red flags that no one cares about, the 5.9% increase in Social Security benefits, college football, and much more! This episode is brought to you by Direxion. Visit https://www.direxion.com/leveraged-etf-education for more information! Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So I'm walking through the new Moynihan train hall which just opened I guess during the pandemic

0:08.1

and on my way here it's like two hours ago and I see a ghost. I see this guy that I worked with

0:16.0

for like probably two or three years and I just forgot that he was even a character in my life.

0:21.6

The donut? No, no, no, no. So this guy was in charge of the prop trading unit

0:29.4

at a broker deal where I worked at and his whole thing. He was like not a trader,

0:35.1

he was like in charge of the desk and more importantly every day how much they made or lost

0:40.6

and he was like maniacal about the whole thing and in those days probably still now

0:48.0

the prop traders like were always felt underpaid, right? So he would have to have a negotiation with

0:54.5

them every month how much how much they contributed to the success of the trading desk and

1:01.0

I just I never had anything to do with him because I was a broker or I just remember him always being like

1:07.8

like there'd be like a there'd be like a commotion in the hallway like people waiting outside his door

1:12.2

he would come out of his office he'd say guy guy come over here let me show you something

1:18.1

and he would walk people around the back of his desk to his computer he'd say guy this

1:23.8

screen doesn't lie and he would say that every single time this screen doesn't lie here's the screen

1:32.4

it's not lying and I listen to him do this every month with 10 different traders like honestly

1:39.4

for I think two full years and so and then I never thought about this gentleman ever again

1:45.8

and I see him just now and I do it I wanted to pull my mask up over my face like if I had a

1:52.4

hooded sweatshirt on it would have been so I I avoided fortunately because I it's one of

1:59.6

these things where it's like I hope this guy forgot that I'm alive probably not not a chance

2:05.6

but I definitely forgot that he's alive and his screen that doesn't lie and that whole routine

2:11.4

it's just it's just like one of these reminders that oh my god life is very different now than back then

2:17.2

and he's still doing it with the hot dog vendors in case the screen doesn't lie he could be homeless

...

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