Risk Parity Resources: ReSolve Riffs/Gestalt University

A can’t miss investing podcast that frequently touches on Risk Parity, this combined show from ReSolve Asset Management will broaden your knowledge base across a wide range of topics. The personable hosts create rich conversations that will push your thinking in lots of new directions.

In podcast form, you’ll find this listed as Resolve’s Gestalt University:

On YouTube, you can subscribe to ReSolve Riffs by visiting the ReSolve Asset Management page:

This is an absolutely indispensable resource hosted by ReSolve Asset Management, a systematic and quantitative-based investment firm out of Toronto. Adam Butler, Mike Philbrick, Rodrigo Gordillo, and Richard Laterman sometimes tackle different topics themselves, but more frequently are joined by some absolutely great guests, such as Claudia Sahm, Antti Ilmanen, and Meb Faber. If ReSolve rings a bell, it is because Butler and Gordillo (along with fellow traveler Corey Hoffstein) wrote the Return Stacking paper I reviewed a few months ago.

It’s a wide-ranging show with diverse topics: everything from personal finance (such as this interview with retirement researcher Wade Pfau) to macroeconomic theory (the Sahm interview) to housing to timely episodes on the state of the markets… and that’s just since this August. The podcast has been running since May of 2019, so there’s a great back catalog of episodes to explore and learn from.

Turning to Risk Parity, while the podcast/YouTube channel are not exclusively Risk Parity focused, the orientation towards balancing risk is nevertheless at the core of ReSolve’s investing philosophy. Risk Parity seems to come up one way or another in just about every episode. I called ReSolve crew's (and Corey Hoffstein) "return stacking" idea “Risk Parity adjacent,” meaning there is such a degree of overlap and so much in common with Risk Parity that the influence is unmistakable. At the same time, they have their own spin, bringing energy into the discussions.

Once you have a good handle on what Risk Parity is and the basics (hopefully from reading this blog or listening to Risk Parity Radio), then this podcast will expand your knowledge base and extend the discussion into more advanced topics like trend-following, tail-risk protection, and the use of leverage in portfolio construction.

Risk Parity specific episodes include:

This is a podcast aimed at industry professionals and very sophisticated individual investors, so sometimes the topics do get pretty complicated. But I would recommend sticking with it even if it seems a little intimidating at first. As I listened more and more, the concepts and the lingo started to stick, and the hosts do a great job backing the conversation out a bit when it is getting too narrow, so even if I do get lost a bit, it’s not for very long. This is definitely a podcast to listen to with a notepad nearby, or with frequent use of the “save link at current time” feature of your podcast player, since it is so instructive. Highly, highly recommended.