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In this episode, we discuss Jurrien’s career, his uniquely narrative approach to technical analysis and his secrets for unlocking resilience and wellness in daily life.
Quotes
“Some people want that big, bombastic call, like ‘buy or sell, you know crash or boom.’ To me, there’s not a lot of use in…these binary calls, you [have] like a 50/50 shot of being right [and] it’s not how people, in my view, should be making investment decisions. So, my stuff can seem a little hedged, nuanced or boring, but I want to help people make the best decisions…so there are no easy answers, people have to do it themselves. They have to do this with conviction so that whenever the market they’re investing in draws down, they have that sense of conviction and can bear through this.” - Jurrien Timmer
“The 60/40 paradigm is completely predicated on the assumption that bonds are inversely, or negatively, correlated to stocks. The point is that equities are the anchor, they are driving the bus in terms of your returns. Nothing compounds like equities over the long-term. The price for that compounding, of course, is that every other year you get a 10% correction, every four years you get a 20% bear market. So, that volatility, or those draw downs, are the price of admission...for gaining that 10-11% over time, which over decades really compounds in a meaningful way…From the late 90’s until 2021 that’s exactly what happened, but there have been many many decades before then, and certainly the last few years since then, where bonds have been positively correlated to equities” - Jurrien Timmer
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