The Meb Faber Show: “The Ten Principles of Portfolio Construction No One Teaches You”
The Meb Faber Show: “The Ten Principles of Portfolio Construction No One Teaches You”
My guest today is Cullen Roche, Chief Investment Officer at Orcam Financial Group and Discipline Funds. His latest book is Your Perfect Portfolio: The ultimate guide to using the world’s most powerful investing strategies.
In today’s episode, Cullen walks through the principles of portfolio construction. He emphasizes the importance of viewing investments as a means of savings rather than a quick path to wealth. Cullen explores the significance of time horizons in investment decisions, why real returns are what matter, and the origins of the 60/40 portfolio.
To see links or read the transcript of the episode, visit us at: https://www.themebfabershow.com/episo…
(0:00) Starts
(1:38) Principles of portfolio construction
(6:12) Real vs nominal returns
(11:01) Asset allocation and time horizon considerations
(26:59) Evaluating the role of government bonds in portfolios
(30:21) Origins of the 60/40 portfolio
(37:44) The forward cap portfolio
(46:49) The concept of duration in investing
(56:23) Disciplined Funds
(1:02:39) Asset liability matching
(1:03:15) Factors influencing investor behavior
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20260102
