Episode #270: Terri Spath, Sierra Investment Management, “We Use A Quantitative Rules Based Process To Go Risk On, Risk Off”
Guest: Terri Spath is Chief Investment Officer and Portfolio Manager at Sierra Investment Management, the parent company of the Sierra Mutual Funds and Ocean Park Asset Management. She joined Sierra in 2015 and is responsible for market and economic analysis, portfolio allocation, investment strategy and building client solutions at the firm.
Date Recorded: 11/4/2020
Run-Time: 58:01
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Summary: In episode 270, we welcome our guest, Terri Spath, Chief Investment Officer and Portfolio Manager at Sierra Investment Management, where she’s responsible for market and economic analysis, portfolio allocation, investment strategy and building client solutions at the firm.
In today’s episode, we’re talking about her rules based approach to investing. Terri talks about Sierra Investment Management’s different funds, including their tactical junk bond fund and their muni-bond fund. She gets into the benefits of applying a trend following approach to her strategies, what she’s seeing across different asset classes, and why she’s bullish on municipal bonds and South Korea.
As we start to wind down, Terri offers ways to implement some of these ideas with your own portfolio, whether it’s with the equity or fixed-income part of your portfolio.
Please enjoy this episode with Sierra Investment Management’s Terri Spath.
Links from the Episode:
- 0:40 – Intro
- 1:28 – Welcome to our guest, Terri Spath
- 4:02 – Investment philosophy of Sierra Investment Management with a focus on Tactical Bond Funds
- 10:58- Moving in and out of positions and what they do with cash on sidelines
- 11:36 – Sierra Resources
- 15:15 – Their thoughts on whether US bonds could go negative
- 18:40 – Their flagship concept
- 22:01 – Portfolio construction for them
- 24:58 – Their view on the markets today
- 25:58 – Commentary: Three Ways to Invest for the Rest of 2020 (Spath)
- 26:20 – Around the World in 80 Days (Verne)
- 28:01 – Their municipal bond strategy
- 30:46 – Their focus and strategy in emerging markets
- 37:50 – Four Horsemen of the Economic Apocalypse
- 37:52 – The Meb Faber Show Podcast – Episode #172: Cam Harvey, Duke University, “This Is A Time Of Considerable Risk Of A Drawdown”
- 40:29 – Research process at Sierra and how they manage their models
- 44:14 – The passion for investing
- 49:27 – Investing in the Time of Corona (Faber)
- 51:10 – How would advisors put their funds into practice
- 54:16 – Most memorable investment
- 56:52 – Connect with Terri: SierraMutualFunds.com, OceanParkAM.com
Transcript of Episode 270:
Coming soon.
