I spoke at the Stansberry Investment Conference this past Tuesday. Hopefully we’ll get the full presentation out at some point since I covered a lot of useful ground in 30 minutes. Here’s a short interview I did afterwards. We touched on a number of topics including:
1) The difficulty of navigating the bond market these days and why actively selecting where you get exposure is wise.
2) Thoughts on stock market valuations and why you have to be more selective than ever getting stock market exposure. But importantly, don’t let stock valuations scare you into this “all in or all out” mentality. High valuations are not necessarily a stock crash precursor.
3) My single most important advice for investors – control what you can control. We can’t control the markets, but we can control our risk exposure via asset allocation, our taxes and our fees.
4) I also spoke about how investors are going to need to diversify outside of the stock and bond markets assuming future returns are going to be lower. In my speech I mentioned commodities, private equity and especially investing in yourself.
5) Lastly we talked about the Fed’s balance sheet. I said the balance sheet run-off wouldn’t be a big deal and that there’s a high probability that the Fed’s balance sheet will be bigger in 10 years than it is today.
Okay, that’s five things, but I figure you deserve two extras. I hope you enjoy how tired I look in this video. It was in Las Vegas after all….
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.