video transcript

-- hoped. We feel that participate in the equity market continues they. Fairly substantial equity -- your portfolio makes sense but we also believe that. Maintaining. Flat rate. In terms of you return on fixing the market will be a real positive. In horizon that just greater inflationary environment. And we feel that the floating rate structures and there are floating rate structures and in this -- bond market in the investment grade market. But the biggest market I think and floating rate is is and I fielder reed the call bank securities. Inflation for your portfolio I would suggest that what -- -- Is a diversified. In our case we have a diversified real asset solution. And the reason it's perfect solution is because it's really a combination of things it's common -- combination of asset classes. That will move with inflation and protect you from a plane inflation tips real estate you name it. But it's important to understand where the inflation's coming from. And inflation has different impacts depending on. In its unexpected or expected how rapidly coming around if you plan for it has less. And security aspects in your portfolio is say we haven't -- a real return fund its targeted towards that and owns assets like -- gold precious metals. In on neutral statement then it also owns tips. You know the stock answers to Michael's. Right or any other part ascent as defined in gold is sort of the default. Response that most people would give you trouble is that where do you put the gold bullion let's what he acquired it in periods of much higher inflation. Smaller capitalization. Equities. The best. When I think about investing in retail stocks. A key focus of mine is is that stocks follow earnings and I'm looking for the best brands in the fastest growing categories. I think inherent. In best brands and ability to raise prices. Over time whether or not that's in response to inflation or whether or not it's supply and demand factor but. I think from the -- -- retail investing. Buying companies have the right brands of the most desirable products. Should in theory you -- guard against inflation. Think the best way to inflation report -- is simply get into the credits based recognize the US government's point out all stops to improve credit quality. They are. Corporate credit earnings -- record high on interest rate spreads are coming down and down. Is that corporate America is having a chance to refinance their ballots balance -- at ultra low rates. That result was -- the bottom line is improving the corporate credit -- Everywhere that you want. Just because I'm an individual stock picker Alex Sotheby's when when inflation's gonna come back that's going to be something that some -- do well in the art market so I think you gotta be careful but we will have inflation. Starting in probably and the fourteen when interest rates start to go back up. So look at your holdings try to find some things that are gonna do well in an inflationary environment but not yet wait till the mid to end of fourteen. Tips are. Think of them almost like you. Expensive insurance policies -- again runaway inflation might still be worth it. But there are other ways you can deal with inflation. In particular. Having a bit of commodity exposure not too much but there and we do have that our portfolios. Not having too long -- on any bonds maybe not going making sure that your allocation if you are doing yourself mixed picture of that at this point. You want out case is not out of whack. Probably the biggest things avoid long duration bonds and have a mix of some of these inflation -- well.