Ep 1: Jesse Picunko, Portfolio Manager, RVW Wealth
This episode with Jesse Picunko, author of Portfolio Management for Private Wealth, goes very deep right off the bat. Mike & Ryan discuss portfolio management ideas such as the 4% rule, the most important lesson he learned from working at the Tennessee treasury, why starting with the right benchmarks is a tool that many portfolio managers overlook, and how to separate the signal from the noise in investing.
Timestamps:
(0:00) Intro
(2:13) Hello Jesse
(6:40) Defining Portfolio Management:
(8:38) Techniques that underutilized at past jobs?
(10:20) Discipline in portfolio management
(12:32) How to minimize mistakes inherent in portfolio construction >>
(14:09) Collaboration & the financial advisor world.
(17:23) Volatility as a risk metric
(21:53) Benchmarks
(22:21) When enough information is enough to make a decision >>>
(23:50) Mental Risk Budget
(25:40) The 4% Rule
(27:58) Is 4% rule relevant inne 8% inflation? >>
(30:12) The implications of a just-in-time economic world.
(31:06) Favorite information sources, tools, and things Jesse enjoys.
(34:22) Debrief: One way to be separating signal from the noise + benchmarks.
Decision Economics:
https://decisioneconomicsinc.com/
Tennessee consolidated retirement system:
https://treasury.tn.gov/Retirement/Information-and-Resources/TCRS-Overview-and-Self-Service
Jesse’s Book:
Merrill Lynch:
Alpha:
https://www.investopedia.com/terms/a/alpha.asp
Quotes from the episode:
“A portfolio is a collection of compensated risks”
- Tweet this
St. Louis Fed research: https://fred.stlouisfed.org/
Rick Reader @ Blackrock:
https://twitter.com/rickrieder?lang=en
JPMorgan Guide to the Markets:
Blackrock 360:
https://www.blackrock.com/us/financial-professionals/tools/360-evaluator
Portfolio Visualizer:
https://www.portfoliovisualizer.com/
This episode is brought to you by The False Hope of Global Diversification, by Mike Ross.
