The all weather stock portfolio

Monday, 18 July 2016

From Mac Bank:

Our “quality” and “stability” portfolio

 It has been painful to look through the current price action when we have a defensive and quality portfolio tilt. Assuming our portfolio is a normal barbell distribution then the tails are hurting us a lot. We have underestimated how quickly the monetary policy backdrop has changed and the significant liquidity squeeze into risk assets.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.