ConceptExplored in depth · 4/5

Total Portfolio Approach aligns risk with conviction

The guest argued that a Total Portfolio Approach (TPA) allows for capital allocation proportional to conviction, unlike siloed asset class models.

Ashby Monkon Capital Allocators

Sign in to read the full idea

The argument, what validates it, the risks discussed and hearing it from the source are for signed-in members. Free accounts read 3 ideas in full a day. No card required.

The story so far

CONTESTED · 206 MENTIONS · 114 EPISODES · 29 SHOWS

30 JUN 2025 — 15 AUG 2026 · 3D AGO

85 SUPPORT · 8 CHALLENGE · 2 REPEAT · 111 MENTIONED

30 JUN 2025 · FIRST HEARD
THE ALPHA EXCHANGE
- Buffer ETFs underperform 60/40 portfolios
10 EPISODES BETWEEN · 23 MENTIONS · 54 NOT KEPT
1. 54 EPISODES NOT SHOWN
2. 23 JAN 2026
  MASTERS IN BUSINESS · 2 MENTIONS
  - Private markets growth in wealth portfolios
  - Private market fees resilient on performance
3. 26 JAN 2026
  CAPITAL ALLOCATORS · 2 MENTIONS
  - Institutional biases can destroy endowment value
  - Private equity: active selection for high dispersion
4. 27 JAN 2026
  THE LONG VIEW
  - Retail access to private markets is inevitable
5. 29 JAN 2026
  THE DERIVATIVE · 3 MENTIONS
6. 31 JAN 2026
  TOP TRADERS UNPLUGGED
  - Volatility estimation speed critically impacts CTA returns
7. 1 FEB 2026
  WE STUDY BILLIONAIRES - THE INVESTORS PODCAST NETWORK
  - Indexing as wealth protection for entrepreneurs
8. 3 FEB 2026
  THE MEB FABER SHOW · 2 MENTIONS
  - Trend following as premier portfolio diversifier
  - All-in-one fund portfolios gaining traction
9. 5 FEB 2026
  CAPITAL ALLOCATORS
  - Multi-strategy platform's virtuous circle
10. 9 FEB 2026
  CAPITAL ALLOCATORS · 6 MENTIONS
11. 9 FEB 2026
  CAPITAL ALLOCATORS · 4 MENTIONS
9 FEB 2026
CAPITAL ALLOCATORS · 3 MENTIONS
- Geopolitical and regulatory risks re-emerging
- Scenario analysis over historical correlation for diversification
- Total Portfolio Approach aligns risk with conviction · THIS IDEA
42 EPISODES BETWEEN · 67 MENTIONS
1. 9 FEB 2026
  THE MEB FABER SHOW
  - Pod shops define the limit of public market alpha
2. 9 FEB 2026
  WHAT BITCOIN DID
  - Bitcoin's ultimate hedge against monetary debasement
3. 10 FEB 2026
  AFFORD ANYTHING
  - Portfolio diversification via low-correlation asset classes
4. 10 FEB 2026
  THE JULIA LA ROCHE SHOW · 2 MENTIONS
  - Commodities as the non-disruptable hedge
  - Extreme market dispersion signals strength
5. 10 FEB 2026
  THE LONG VIEW · 3 MENTIONS
  - Active fixed income's edge via repeatable alpha
  - High yield credit as fertile ground for active
  - Private credit's compressed illiquidity premium
6. 12 FEB 2026
  GOLDMAN SACHS EXCHANGES
  - Market structure favors fundamental duration
7. 15 FEB 2026
  YET ANOTHER VALUE PODCAST · 2 MENTIONS
  - Fundamental investing retains a role in the AI future
  - Expert calls become a unique, real-time data asset
8. 16 FEB 2026
  ANIMAL SPIRITS
  - Commodities as inflation and portfolio hedge
9. 16 FEB 2026
  CAPITAL ALLOCATORS · 5 MENTIONS
  - Managing tail risk via pre-mortem and post-mortem process
  - Risk management as the core business
  - Risk migration from banks to private sector
  - Markets have grown massively versus multi-strategy assets
  - Multi-strategy hedge funds' capital efficiency edge
10. 20 FEB 2026
  THE COMPOUND AND FRIENDS · 2 MENTIONS
  - Democratizing alts via liquid wrappers
  - Liquidity premium is back in focus
11. 21 FEB 2026
  THE JULIA LA ROCHE SHOW
  - Public markets superior to private markets
12. 23 FEB 2026
  CAPITAL ALLOCATORS
  - S&P 500 concentration a historical shiny object
13. 24 FEB 2026
  THE LONG VIEW
  - Private market fees: the 2 and 20 model and alignment
14. 25 FEB 2026
  FORWARD GUIDANCE
  - ETF wrapper ill-suited for private assets
15. 26 FEB 2026
  MASTERS IN BUSINESS
  - Bonds' failed diversification in the 2020s
16. 5 MAR 2026
  THE DERIVATIVE · 3 MENTIONS
  - Long volatility as systematic portfolio brakes
  - Investor addiction to high average, negative skew returns
  - The siren song of selling vol to mitigate bleed
17. 6 MAR 2026
  THE MEB FABER SHOW · 3 MENTIONS
  - Individual investor access drives alternatives growth
  - Private equity alpha hinges on top-quartile manager selection
  - Evergreen 'semi-liquid' vehicles carry gating risk · CHALLENGES
18. 11 MAR 2026
  MASTERS IN BUSINESS
  - Factor ETFs as 'poor man's alpha'
19. 12 MAR 2026
  THE RATIONAL REMINDER PODCAST
  - Institutional alts often fail to deliver promised returns
20. 16 MAR 2026
  ANIMAL SPIRITS
  - Tax-loss harvesting via long-short strategies
21. 19 MAR 2026
  CAPITAL ALLOCATORS
  - Diversification rationale for active management
22. 23 MAR 2026
  CAPITAL ALLOCATORS
  - Venture capital offers highest long-run returns
23. 26 MAR 2026
  THE RATIONAL REMINDER PODCAST · 6 MENTIONS
  - Illiquidity as a trade-off for smoothed volatility
  - Private vs public real estate performance parity
  - Private market sales pitch: higher return, lower risk
  - Core critique: private assets' risk/return promise flawed
  - Private equity's diversification and return claims questioned
  - Illiquidity premium debate: compensation vs overpayment
24. 31 MAR 2026
  MONETARY MATTERS WITH JACK FARLEY
  - Pods pivot faster than institutionalized hedge funds
25. 31 MAR 2026
  EXCESS RETURNS · 2 MENTIONS
  - Long-only trend following for equity beta
  - Systematic strategies challenged by crisis correlations
26. 6 APR 2026
  CAPITAL ALLOCATORS · 2 MENTIONS
  - Shift to smaller, asymmetric venture funds
  - The guest presented a contrarian bias towards public markets and co-investments, arguing that the crowding of private equity and a talent vacuum may create more alpha in public markets.
27. 7 APR 2026
  MONETARY MATTERS WITH JACK FARLEY
  - EM debt indices force low-conviction, risky bets
28. 7 APR 2026
  THE MEB FABER SHOW · 2 MENTIONS
  - Private equity's reported volatility is smoothed
  - Liquid public market replication of private equity
29. 13 APR 2026
  ANIMAL SPIRITS
  - Losing less is key to long-term compounding
30. 16 APR 2026
  THE RATIONAL REMINDER PODCAST
  - Top-quartile active funds still underperform, increase volatility
31. 20 APR 2026
  ANIMAL SPIRITS · 2 MENTIONS
  - Levered ETFs' volatility decay problem
  - Options strategies deliver portfolio certainty
32. 22 JUL 2026 · 4W AGO
  MONETARY MATTERS WITH JACK FARLEY
  - Private equity face higher rate distress
33. 25 JUL 2026 · 3W AGO
  TOP TRADERS UNPLUGGED
  - Stacking trend-following overlay on equities/bonds
34. 25 JUL 2026 · 3W AGO
  PLANET MICROCAP PODCAST
  - Private equity model faces prolonged structural unwind
35. 25 JUL 2026 · 3W AGO
  EXCESS RETURNS
  - Underperformance creates the basis for long-term premium
36. 27 JUL 2026 · 3W AGO
  CAPITAL ALLOCATORS
  - Niche fundamental public equity strategies exploit market fragmentation
37. 30 JUL 2026 · 3W AGO
  THE RATIONAL REMINDER PODCAST
  - Static all-equity strategy reduces retirement failure rates
38. 30 JUL 2026 · 3W AGO
  THE DERIVATIVE
  - Institutional asset bucketing hurts multi-asset portfolio retention
39. 31 JUL 2026 · 3W AGO
  MASTERS IN BUSINESS · 2 MENTIONS
  - Sixty-forty portfolio's historical failure rate · CHALLENGES
  - Outcome-oriented investing over benchmark chasing
40. 2 AUG 2026 · 2W AGO
  WSJ WHAT'S NEWS · 2 MENTIONS
  - Private markets lack a persistent performance premium
  - Private market funds carry high costs and frictions
41. 5 AUG 2026 · 2W AGO
  TOP TRADERS UNPLUGGED · 2 MENTIONS
  - CIO role as building a decision system
  - Strategic asset allocation for resilience
42. 6 AUG 2026 · 2W AGO
  THE DERIVATIVE
  - Cross-Asset Factor Alpha as systematic multi-strat
7 AUG 2026 · 2W AGO
THE MEB FABER SHOW
- Global value rotation from expensive US mega-caps
8 AUG 2026 · 1W AGO
TOP TRADERS UNPLUGGED
- Rebalancing frequency's long-run irrelevance
9 AUG 2026 · 1W AGO
WE STUDY BILLIONAIRES - THE INVESTORS PODCAST NETWORK
- Dynamic asset allocation beats static indexing
12 AUG 2026 · 6D AGO
FORWARD GUIDANCE · 2 MENTIONS
- Alpha strategies favored over beta
- Systematic risk management creates positive skew
14 AUG 2026 · 4D AGO
THE MEB FABER SHOW
- The 'unkillable' Fugger portfolio allocation
15 AUG 2026 · 3D AGO
TOP TRADERS UNPLUGGED
- Commodities as inflation diversifiers via enhanced beta

HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD