The Meb Faber Show: “A Breaking Point Could Be Coming Soon (Research Affiliates’ Jim Masturzo Reveals)”
The Meb Faber Show: “A Breaking Point Could Be Coming Soon (Research Affiliates’ Jim Masturzo Reveals)”
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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.
(0:00) Introduction of Jim Masturzo
(2:15) Asset Allocation & the 60/40 Portfolio
(5:14) Global Market Valuations and CAPE Ratios
(7:34) Emerging Markets: China, India, and South America
(11:18) A Decade of Expected Returns
(18:25) Expected Returns, Value vs. Growth, and Factor Investing
(22:33) Debunking Private Equity and Credit Myths
(31:01) Fixed Income and Global Economic Indicators
(40:03) Exploring Alternative Assets
(43:43) Trend Following Strategies
(45:15) Most Memorable Investment
Have questions? Reach out to us any time at info@cambriainvestments.com.
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20250214
