In this episode of the Achieve Podcast, host Taylor Baker speaks with Trent May, Chief Investment Officer at Lab Quantitative Strategies, about the evolution of modern portfolio construction and the lessons learned from more than three decades in institutional investing. Trent shares insights from his journey through mutual funds, hedge funds, public pension leadership, and family offices, and explains how changing macroeconomic conditions are reshaping how investors think about risk, diversification, and long-term capital allocation developers.

What You’ll Learn:

• How Trent May’s 35-year investment career shaped his perspective on markets, risk management, and portfolio construction
• Why institutional investors are rethinking the traditional 60/40 portfolio framework
• The impact of inflationary environments and shifting market regimes on long-term investment strategies
• How allocators approach investing differently than portfolio managers focused on short-term performance
• What “portable alpha” means and how separating alpha and beta can create more flexible portfolios
• Why equities remain central to long-term wealth creation despite market volatility
• The importance of building durable investment strategies that can perform across decades, not just market cycles
• How institutional investors, family offices, and endowments are adapting to a more complex global market environment

Throughout the conversation, Trent emphasizes that successful investing requires adapting to changing economic regimes while maintaining a disciplined, long-term perspective. Drawing from experience across multiple roles in the investment ecosystem, he explains how separating sources of return, managing risk thoughtfully, and focusing on durable portfolio construction can help institutions and investors navigate uncertain markets more effectively.

To learn more about Trent May and their work, visit lab-qs.com