In this episode, we discuss:

• The outlook for inflation
• Achieving high performance consistently
• How to re-allocate a portfolio accordingly
• Mean variance optimisation
• Whether this time is different
• Selecting the right manager
• Simplifying complexity for better understanding

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Episode TimeStamps:

00:00 – Intro
03:30 – Elizabeth’s background and history in the investment world
04:55 – Elizabeth’s perspective on today’s markets
06:52 – Managing a public fund versus a private fund
08:14 – Performing above expectations
09:38 – The current outlook for inflation
11:31 – How to re-position a portfolio for higher expected inflation
13:57 – Fixed income versus real assets
14:51 – Categorising asset classes effectively
19:56 – The limits of mean variance optimisation
21:59 – Using historical perspectives as an input into current decision-making
24:09 – Whether this time is different
25:25 – Difficulties in the manager selection process
28:35 – Choosing between macro and systematic investors
30:08 – The pitfalls of investing with macro traders
32:40 – Investing in a manager who includes crypto in their portfolio
34:34 – Allocating between systematic and discretionary managers
36:45 – How to screen for a good money manager
40:44 – How to respond when a manager is underperforming
43:48 – Process over outcome
47:04 – Working with consultants
52:27 – Lessons from a leadership coach
57:00 – Simplifying complex ideas for better communication 
01:00:28 – Advice for aspiring allocators

3 Allocator Series: Lessons from a $25 billion CIO ft. Elizabeth Burton — February 23rd, 2022 on Top Traders Unplugged.