Overvaluation Meets Macro Risk: Why This Massive Asset Manager is Getting Bearish | Jim Masturzo | Research Affiliates
About this episode
Jack Farley interviews Jim Masturzo about macroeconomic risks and investment strategies in the current market environment.
Learn More About Unlimited HFGM Global Macro ETF $HFGM: https://unlimitedetfs.com/hfgm In this episode of Monetary Matters, host Jack Farley sits down with Jim Masturzo, Chief Investment Officer at Research Affiliates, to discuss the changing macroeconomic landscape and the underlying flaws of the traditional 60/40 portfolio. Masturzo explains that the recent positive correlation between stocks and bonds requires investors to find true diversifiers, though he still sees tactical opportunities in trading range-bound bond yields. The conversation explores the AI-driven market narrative, with Masturzo highlighting that the U.S. market is significantly overvalued at a CAPE ratio of 40 and examining the resulting ripple effects on software stock valuations. Finally, he details his bullish conviction trade on commodities amidst severe geopolitical supply chain risks and introduces his firm's new fundamentally weighted RAFI Growth Index. Follow Research Affiliates on X: https://x.com/RA_Insights Follow Jack Farley on X: https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez Timestamps: 00:00…
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