Hedging Against Inflation, and Preparing for a Potential Bear Market with Eben Burr

In this episode, Rusty and Robyn talk with Eben Burr, President of Toews Asset Management.
Eben came to the financial industry with an unusual background. With degrees in architectural history and product design, he studied architecture in Paris, designed products, and worked in NYC real estate market, before eventually landing at Toews.
That said, the common thread throughout Eben’s career has been a focus on user experience — a skill that turned out to be a huge asset at Toews. 
Eben talks with Rusty and Robyn about preparing for a potential bear market,  hedging portfolios against inflation, and bringing introspection to investing.

Key Takeaways

[06:45] - Are we in a superbubble?

[10:52] - Are advisors ready for a bear market in the stocks?

[15:58] - Some evidence-based findings on inflation.

[19:30] - What's the hedge equity approach?

[24:47] - Keeping up with quick volatility and market downdraft.

[26:14] - Advice on unconstrained fixed income strategies.

[27:48] - The importance of behavioral finance.

[30:50] - A balance of empathy, integrity, and confidence.

[32:54] - Why introspection is underrated.

[34:54] - Eben’s personal investing practices.

[37:23] - Eben’s book and podcast recommendations.

Quotes
[27:13] - “We've gotten so complacent with thinking about S&P large caps that we no longer have this idea of true diversification, where there's intentionally something underperforming, right? There's intentionally something not going well.” - Eben Burr
[29:14] - “Seeing someone really compelling at a conference is not likely to change your behavior. There is a deep, deep gulf between inspiration and implementation. So we're working every day with advisors to help them improve their communication, portfolio construction (which is really important in behavior), and implement structure so that the advisor practice is really embracing behavioral change on all levels. Really you need to look at things like client delight and retention, as well as just their understanding. All those things come into play.” - Eben Burr
[33:26] - “Know your strengths and weaknesses. I mean, introspection, I think is so fantastically underrated in American society. You know, we're amazing doers as Americans, right? We're just like, give me something to do and I will do it to death but don't ask me to think about it after I've done it. Cause I don't want to do that.” - Eben Burr

Links 

Eben Burr on LinkedIn

Toews Asset Management

"The IVth Crusade" by Bolt Thrower

Ol’e Nessie by Mastodon

Rise Above by Black Flag

Jeremy Grantham Super Bubble Comments

Calling a Super Bubble: Front Row With Jeremy Grantham | YouTube

‘SNL’: Pete Davidson, Jack Harlow Deliver Eminem-Inspired Rap Explaining NFTs | RollingStone

Behavioral Investing Institute

Brian Portnoy

Advisor Communication for Bubbles and Market Crises

Toews Economic and Capital Markets Update 1Q22

Importance of Emotional Intelligence

Attention Robinhood power users: Most day traders lose money by Bob Pisani | CNBC

Cocoa Barn NYC 

Odd Lots Podcast

Standard Deviations Podcast

Makers and Takers: The Rise of Finance and the Fall of American Business by Rana Foroohar

Alexander Hamilton: A Life by Willard Sterne Randall

Downtown by Pete Hamill

The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny by William Strauss

Blast Beats

The 10 best fictional architects | The Guardian

Meditation

Super Bubble Bubble Gum

S&P 500

L’Ecole Bleue

Monty Python

The Towering Inferno

Fountainhead

Wesley Snipes

Paul Newman

John Cleese

The history of inflation in the United States

Investor Behavior in a Market Crisis

Investments and Wealth Monitor

Toews Agility Shares ETF’s

Connect with our hosts

Rusty Vanneman

Robyn Murray

Subscribe and stay in touch

Apple Podcasts

Spotify

Google Podcasts

0348-OPS-2/23/2022

In this episode, Rusty and Robyn talk with Eben Burr, President of Toews Asset Management.

Eben came to the financial industry with an unusual background. With degrees in architectural history and product design, he studied architecture in Paris, designed products, and worked in NYC real estate market, before eventually landing at Toews.

That said, the common thread throughout Eben’s career has been a focus on user experience — a skill that turned out to be a huge asset at Toews. 

Eben talks with Rusty and Robyn about preparing for a potential bear market,  hedging portfolios against inflation, and bringing introspection to investing.

Key Takeaways

[06:45] - Are we in a superbubble?
[10:52] - Are advisors ready for a bear market in the stocks?
[15:58] - Some evidence-based findings on inflation.
[19:30] - What's the hedge equity approach?
[24:47] - Keeping up with quick volatility and market downdraft.
[26:14] - Advice on unconstrained fixed income strategies.
[27:48] - The importance of behavioral finance.
[30:50] - A balance of empathy, integrity, and confidence.
[32:54] - Why introspection is underrated.
[34:54] - Eben’s personal investing practices.
[37:23] - Eben’s book and podcast recommendations.

Quotes

[27:13] - “We've gotten so complacent with thinking about S&P large caps that we no longer have this idea of true diversification, where there's intentionally something underperforming, right? There's intentionally something not going well.” - Eben Burr

[29:14] - “Seeing someone really compelling at a conference is not likely to change your behavior. There is a deep, deep gulf between inspiration and implementation. So we're working every day with advisors to help them improve their communication, portfolio construction (which is really important in behavior), and implement structure so that the advisor practice is really embracing behavioral change on all levels. Really you need to look at things like client delight and retention, as well as just their understanding. All those things come into play.” - Eben Burr

[33:26] - “Know your strengths and weaknesses. I mean, introspection, I think is so fantastically underrated in American society. You know, we're amazing doers as Americans, right? We're just like, give me something to do and I will do it to death but don't ask me to think about it after I've done it. Cause I don't want to do that.” - Eben Burr

Links 

Eben Burr on LinkedIn
Toews Asset Management
"The IVth Crusade" by Bolt Thrower
Ol’e Nessie by Mastodon
Rise Above by Black Flag
Jeremy Grantham Super Bubble Comments
Calling a Super Bubble: Front Row With Jeremy Grantham | YouTube
‘SNL’: Pete Davidson, Jack Harlow Deliver Eminem-Inspired Rap Explaining NFTs | RollingStone
Behavioral Investing Institute
Brian Portnoy
Advisor Communication for Bubbles and Market Crises
Toews Economic and Capital Markets Update 1Q22
Importance of Emotional Intelligence
Attention Robinhood power users: Most day traders lose money by Bob Pisani | CNBC
Cocoa Barn NYC 
Odd Lots Podcast
Standard Deviations Podcast
Makers and Takers: The Rise of Finance and the Fall of American Business by Rana Foroohar
Alexander Hamilton: A Life by Willard Sterne Randall
Downtown by Pete Hamill
The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny by William Strauss
Blast Beats
The 10 best fictional architects | The Guardian
Meditation
Super Bubble Bubble Gum
S&P 500
L’Ecole Bleue
Monty Python
The Towering Inferno
Fountainhead
Wesley Snipes
Paul Newman
John Cleese
The history of inflation in the United States
Investor Behavior in a Market Crisis
Investments and Wealth Monitor
Toews Agility Shares ETF’s

Connect with our hosts

Rusty Vanneman
Robyn Murray

Subscribe and stay in touch

Apple Podcasts
Spotify
Google Podcasts

0348-OPS-2/23/2022