Jim Masturzo - Fragile Markets, Strong Portfolios: 2025 Asset Allocation Playbook | #570
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].
Key Points
- The 60/40 portfolio, a traditional investment strategy, has seen significant deviations due to market volatility and requires periodic rebalancing to maintain its intended allocation.
- Emerging markets value stocks are currently viewed as highly attractive due to their reasonable valuations and potential for higher returns compared to overvalued US large growth stocks.
- Commodities, particularly those related to green energy and precious metals, offer promising investment opportunities, especially when approached with active management and leverage strategies.
Chapters
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Transcript
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