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cover of episode Talk Your Book: Custom Portfolio Protection

Talk Your Book: Custom Portfolio Protection

2025/3/3
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Animal Spirits Podcast

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Ben Carlson
一位专注于投资教育和策略的金融专家,通过博客和播客分享投资见解。
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Matthew Radgowski
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Michael Batnick
作为 Ritholtz Wealth Management 的管理合伙人和研究总监,Michael Batnick 是一位知名的投资专家和播客主持人。
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Michael Batnick: 我认为结构化票据提供了一种定义风险和收益的方式,尤其适合那些无法承受市场大幅波动风险的投资者。虽然它会限制部分上涨空间,但这对于许多投资者来说是可以接受的,因为他们更看重的是保护本金和获得稳定的收益。 我观察到,近年来,财富管理行业中越来越流行定制化规模化的投资策略。这看似矛盾,但技术平台的出现使得规模化定制成为可能,这使得我们可以更好地满足不同客户的需求。 对于那些犹豫是否现在进入市场的投资者,结构性票据提供了一个很好的选择。它允许投资者在获得市场收益的同时,降低风险,这对于那些风险承受能力较低的投资者来说非常有吸引力。 Ben Carlson: 我认为人们喜欢定义结果型投资,因为它更容易理解,特别是对于风险承受能力较低的投资者。结构化票据和缓冲型ETF都是定义结果型投资的工具,但它们各有优劣。ETF易于实施和流动性强,而结构性票据更易于个性化定制。 我认为,稳定收入流对客户心理的积极作用与下行风险保护一样重要。结构性票据可以提供稳定的收入流,这对于许多投资者来说非常有吸引力。 在市场波动时期,结构性票据可以帮助投资者保持投资策略的一致性,避免因恐慌而做出错误的投资决策。 Matthew Radgowski: Halo是一个投资技术和市场平台,为金融顾问提供购买结构性票据、费用型年金和其他保护性投资产品的能力。我们相信结构性票据是一个很好的投资工具,可以作为投资组合保险。 结构性票据的定价会受到市场动态(利率和波动性)的影响,不同市场环境下,收益率也会有所不同。即使在当前高利率和高波动性的市场环境下,结构性票据仍然是一种有价值的投资工具。 Halo推出了结构性票据单独管理账户(SMA),允许顾问使用专业资金经理来管理结构性票据投资。我们的SMA平台类似于传统的单独账户计划赞助商,提供投资经理所需的运营基础设施。我们目前提供五种结构性票据策略,涵盖了收入型和增长型两种主要策略。 Halo平台简化了购买和管理结构性票据的过程,类似于购买其他单独账户策略。我们的Aura平台可以展示结构性票据对客户投资组合的影响,帮助顾问更好地向客户解释投资策略。 结构性票据SMA可以作为核心投资组合的一部分长期持有,并可以与其他投资策略结合使用。结构性票据的收益率取决于多种因素,包括标的资产、波动性和风险承受能力。Halo平台提供多种结构性票据组合,顾问可以根据客户需求进行选择。我们的SMA允许经理监控其发行人级别的风险敞口,以确保多样化。

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On this episode of Animal Spirits: Talk Your Book, Michael Batnick) and Ben Carlson) are joined by Matthew Radgowski, CEO of Halo Investing) to discuss the difference between buffered ETFs and structured notes, Halo's new structured note SMAs, using structured notes as portfolio insurance, and much more!

Find complete show notes on our blogs...

Ben Carlson’s A Wealth of Common Sense)

Michael Batnick’s The Irrelevant Investor)

Feel free to shoot us an email at [email protected]) with any feedback, questions, recommendations, or ideas for future topics of conversation.

 

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Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed.

 

Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.

The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management), receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers). Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.

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