00:00So then how are you thinking of the classic traditional 60-40 portfolio? We have Sokjen
00:04earlier today saying it's 60-20-20, the 20 being commodities. Goldman also made a comment.
00:09Should we maybe decrease equities or increase bonds? You know what? It actually drives me a
00:16little crazy when people give a cookie cutter answer to that because who's the investor? So
00:21there's no one. We have $13.4 trillion in client assets. There's no one asset allocation that
00:27makes sense. Right now, we're what we call neutral on equities, which is not a bearish position. It's
00:33just be at your long-term strategic allocation. We're less favorable on fixed income, more favorable
00:41to your point on commodities. So that's the array. But the percentages in each is going to depend
00:45on the investor, their time rise and risk tolerance, need for income, et cetera, et cetera, et cetera.
00:49Yes, and the age and profile and everything. Yeah, that's a great point.
Comments