Show Us Your Portfolio | Mike Green | How a Macro Expert Builds His Personal Portfolio

In this episode we talk to Simplify Asset Management's Mike Green about how he manages his personal portfolio. We discuss Mike's macro-based approach and how he has implemented it using an ETF strategy. We cover the unique components within his strategy and how Mike thinks about combining them together into a portfolio. We also talk about how working in the investment business impacts how Mike builds his portfolio, the importance of sabbaticals, his upcoming RV trip, how he is coping with his current lack of cooking tools and a lot more.
00:00 - Intro
02:36 - A high level look at how Mike thinks about his portfolio
05:38 - Mike's upcoming cross country RV trip
08:28 - The benefits of taking sabbaticals
12:33 - Simple vs. complex in investing
16:35 - Payoff structures vs. asset allocation
19:10 - Approaching your portfolio strategy with humility
23:04 - Should investors be scared of leverage?
25:27 - A unique approach to high yield debt investing
29:49 - Hedging interest rate risk
31:59 - How Mike's views on passive investing impact his portfolio construction
34:43 - Should valuations matter?
36:52 - How David Einhorn has evolved his views on valuation
40:24 - How Mike views international exposure
43:49 - The role of managed futures in Mike's portfolio
45:18 - Gold and volatility harvesting
48:01 - How Mike thinks about rebalancing
51:56 - What Mike would like to do in his portfolio that he can't yet
53:42 - Mike's approach to private equity and real estate
56:16 - Mike's views on crypto
59:28 - Mike's biggest investing mistake
01:04:36 - What Mike spends money on outside of investing
01:07:35 - The one lesson Mike would teach the average investor
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/ profplum99
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[@ExcessReturns]

Thank you for checking out Excess Returns. If you found this video valuable, please like it 👍, leave a comment ⌨ and subscribe to our KZbin Channel 💥 www.youtube.com/@ExcessReturns

[@anthonycho6344]

Really liked hearing Mike sharing his life experience. Rational person with sharp mind.

[@bruceaulabaugh]

Thank you Excess Returns!

[@ExcessReturns]

Thank for watching and commenting Bruce!

[@user-dy3hz9yf8h]

Mike is great guest!

[@savusilviu]

Minute 47 is where the magic happens

[@emcardleinvest]

Really enjoyed this one

[@darrenritsick4219]

Agree with Mike about a near term period of cyclical disinflation/deflation but also have the longer term view (informed by Russell Napier, Luke Gromen, Lyn Alden, Cem Karsan, etc) of financial repression (holding yields below inflation to prop up nominal GDP and inflate down sovereign debt) that would make holding sovereign bonds a bad move after this near term period. Would love to hear what Mike thinks about financial repression (seems like the only way beyond austerity - which won't happen) for governments to deal with the massive debt and how this would inform the composition of FIG or not.

[@JanCRT]

Excellent advice at the end!

[@gregorybainathsah7284]

Great episode. I'm definitely subscribing

[@BlergleslinkVettermoo]

Good talk.

[@georgee1405]

Oh snap professor plum

[@BandilungTz]

What are the tickers of simplified ETF he is refering?

[@ExcessReturns]

We can't mention specific tickers but if you go to the Simplify site, you should be able to find it pretty quickly. Thanks for checking out Excess Returns! www.simplify.us/etfs

[@caustinolino3687]

He says if prices of houses come down to be affordable at these interest rates, you wont be buying because of mass unemployment. Sorry not buying it. We could have a glut of inventory come online from airbnb liquidation, corporate landlord liquidation from bad cap rates, empty office conversions, homebuilder inventory, retiring boomers needing to liquidate, etc. None of that has anything to do per se with mass unemployment. Theres a real economy independent of people speculating on house appreciation. If the entire US economy breaks and cannot function without a housing bubble, we all have much bigger problems to deal with than our portfolio composition.

[@jaket5267]

This didnt age super well... Is huge market gains "not much upside"? over a 1 year timescale? Is mike watching longer time scales?