ALO03: Lessons from a $25 billion CIO ft. Elizabeth Burton

<p>Alan Dunne is joined today by Elizabeth Burton to discuss managing a public fund versus a private fund, the challenges to those invested in the traditional 60 / 40 portfolio, the current outlook for inflation, performing above expectations, how to re-position a portfolio for higher expected inflation, fixed income versus real assets, categorising asset classes effectively, the limits of mean variance optimisation, using historical perspectives as an input into current decision-making, difficulties in the manager selection process, and how to simplify complex ideas in order to communicate more efficiently.</p><p><strong>-----</strong></p><p><strong>50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - </strong><a href="https://dunncapital.com/DUNN%2050-Year%20Book-TTU" rel="noopener noreferrer" target="_blank"><strong>CLICK HERE</strong></a></p><p><strong>In this episode, we discuss:</strong></p><ul><li>The outlook for inflation</li><li>Achieving high performance consistently</li><li>How to re-allocate a portfolio accordingly</li><li>Mean variance optimisation</li><li>Whether this time is different</li><li>Selecting the right manager</li><li>Simplifying complexity for better understanding</li></ul><br /><p>Follow Niels on <a href="https://twitter.com/toptraderslive" rel="noopener noreferrer" target="_blank"><strong>Twitter</strong></a>, <a href="https://www.linkedin.com/in/nielskaastruplarsen" rel="noopener noreferrer" target="_blank"><strong>LinkedIn</strong></a>, <a href="https://www.youtube.com/user/toptraderslive" rel="noopener noreferrer" target="_blank"><strong>YouTube</strong></a><strong> </strong>or via the <a href="https://www.toptradersunplugged.com/" rel="noopener noreferrer" target="_blank"><strong>TTU website</strong></a>.</p><p><strong>IT’s TRUE </strong>? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written&nbsp;<a href="https://www.toptradersunplugged.com/Ultimate" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>And you can get a free copy of my latest book “<strong>Ten Reasons to Add Trend Following to Your Portfolio</strong>” <a href="https://www.toptradersunplugged.com/10-reasons-shownotes" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>Learn more about the Trend Barometer <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank"><strong>here</strong></a>.</p><p>Send your questions to&nbsp;<a href="mailto:info@toptradersunplugged.com%22%20%5Ct%20%22_blank" rel="noopener noreferrer" target="_blank">info@toptradersunplugged.com</a></p><p>And please <strong>share this episode</strong> with a like-minded friend and <strong>leave an honest Rating &amp; Review</strong> on&nbsp;<a href="https://www.toptradersunplugged.com/reviewttu" rel="noopener noreferrer" target="_blank"><strong>iTunes</strong></a>&nbsp;or <a href="https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW" rel="noopener noreferrer" target="_blank"><strong>Spotify</strong></a> so more people can discover the podcast.</p><p>Follow Alan on <a href="https://twitter.com/alanjdunne" rel="noopener noreferrer" target="_blank"><strong>Twitter</strong></a>.</p><p>Follow Elizabeth on <a href="https://www.linkedin.com/in/elizabethtburton/" rel="noopener noreferrer" target="_blank"><strong>LinkedIn</strong></a>.</p><p>-----</p><p><br /></p><p><strong>Episode TimeStamps: </strong></p><p><strong>00:00</strong> - Intro</p><p><strong>03:30</strong> - Elizabeth’s background and history in the investment world</p><p><strong>04:55</strong> - Elizabeth’s perspective on today’s markets</p><p><strong>06:52</strong> - Managing a public fund versus a private fund</p><p><strong>08:14</strong> - Performing above expectations</p><p><strong>09:38</strong> - The current outlook for inflation</p><p><strong>11:31</strong> - How to re-position a portfolio for higher expected inflation</p><p><strong>13:57</strong> - Fixed income versus real assets</p><p><strong>14:51</strong> - Categorising asset classes effectively</p><p><strong>19:56</strong> - The limits of mean variance optimisation</p><p><strong>21:59</strong> - Using historical perspectives as an input into current decision-making</p><p><strong>24:09</strong> - Whether this time really is different</p><p><strong>25:25</strong> - Difficulties in the manager selection process</p><p><strong>28:35</strong> - Choosing between macro and systematic investors</p><p><strong>30:08</strong> - The pitfalls of investing with macro traders</p><p><strong>32:40</strong> - Investing in a manager who includes crypto in their portfolio</p><p><strong>34:34</strong> - Allocating between systematic and discretionary managers</p><p><strong>36:45</strong> - How to screen for a good money manager</p><p><strong>40:44</strong> - How to respond when a manager is underperforming</p><p><strong>43:48</strong> - Process over outcome</p><p><strong>47:04</strong> - Working with consultants</p><p><strong>52:27</strong> - Lessons from a leadership coach</p><p><strong>57:00</strong> - Simplifying complex ideas for better communication&nbsp;</p><p><strong>01:00:28</strong> -Advice for aspiring allocators</p><p>Copyright © 2025 – CMC AG – All Rights Reserved</p><p>----</p><p><strong>PLUS:</strong> Whenever you're ready... here are 3 ways I can help you in your investment Journey:</p><p><strong>1. eBooks that cover key topics that you need to know about </strong></p><p>In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. <a href="https://www.toptradersunplugged.com/resources/ebooks/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><strong>2. Daily Trend Barometer and Market Score </strong></p><p>One of the things I’m really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! <a href="https://www.toptradersunplugged.com/resources/market-trends/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><strong>3. Other Resources that can help you</strong></p><p>And if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. <a href="https://www.toptradersunplugged.com/resources/" rel="noopener noreferrer" target="_blank"><strong>Click Here</strong></a></p><p><a href="https://www.toptradersunplugged.com/legal/privacy-policy/" rel="noopener noreferrer" target="_blank">Privacy Policy</a></p><p><a href="https://www.toptradersunplugged.com/disclaimer/" rel="noopener noreferrer" target="_blank">Disclaimer</a></p>