This week Adam and Rodrigo of ReSolve Global* had the pleasure of speaking with Jason Josephiac of Meketa Investment Group. Our conversation spanned topics including:

• His background in the industry and joining Meketa
• Asset Allocation: label/category diversification vs. risk/functional diversification
• Risk Parity vs. Traditional Asset Allocation
• What Portable Alpha
• Synthetically creating your own “bond” with risk factors not directly tied to spreads and rates
• Risk Mitigating Strategies (RMS)
• Long Volatility – 1st Responders
• Trend Following – 2nd Responders
• Beta Neutral and Uncorrelated (Diversifiers)
• Behavioral/psychological biases of investors
• Why “hedge funds” are not an asset class and many “hedge fund” programs tend not to withstand the test of time
• What is risk?
• Generalists vs. Specialists
• How LDI portfolios could be improved
• Evolution of dissecting returns and understanding factor risks, what is alpha vs. beta
• How can investment managers and investors become better aligned?

 

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*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.