The Biggest Question of Our Time – Part 2: The Anti-Risk-Parity Portfolio

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Last month, Vincent Deluard posed the question of whether the anti-globalist agendas proposed by President Trump and other stridently populist leaders could actually bring an end to the free trade, peace, and rapid economic growth that have marked the last 30 years. If so, he argued, then investors will likely need to abandon the old paradigm of passive investing and diversification in favor of a more active and idiosyncratic strategy.  

This month, in “The Biggest Question of Our Time – Part 2: The Anti-Risk-Parity Portfolio,” INTL FCStone Financial Inc.’s Global Macro Strategist outlines what that strategy might look like in greater detail. Specifically, he advises investors to eschew leveraging low-volatility assets and instead pursue a strategy based on a conservative asset allocation (i.e. no leverage and some cash) and the pursuit of aggressive themes (high-volatility stocks, cyclical sectors, idiosyncratic trades).

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About the Author

Vincent Deluard, CFA, is the newest member of the Market Intelligence team within the BD Division of INTL FCStone Financial Inc. A prolific market commentator who’s often quoted in the Financial Times, Wall Street Journal, Bloomberg, Forbes Magazine, and Barron’s, Mr. Deluard earned the Euromoney Padraic Fallon Editorial Prize for his in-depth study of the investment opportunities offered by the European debt crisis in 2013. Prior to joining INTL FCStone Financial Inc., Vincent served as Europe Strategist for Ned Davis Research Group, where he authored weekly publications on European markets, and designed proprietary trading models that combined fundamental, technical and macro indicators to identify major investment themes and market trends.

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