Jeffrey Sherman and Sam Lau welcome Brenda Vingiello, chief investment officer at Silicon Valley-based wealth management firm Sand Hill Global Advisors, to the latest episode of The Sherman Show, recorded Sept. 13, 2022, during the Future Proof Wealth Festival in Huntington Beach. Ms. Vingiello kicks off the podcast by sharing her career history and how she moved from the buy side to the advisory side at Sand Hill, where she and her team rely on the discipline from their institutional experience to guide their clients (1:30). The group then discuss what Ms. Vingiello and Sand Hill think of traditional asset classes versus the more private markets (3:53), how clients are responding to the firm’s outlook on inflation (6:58) and what the current environment means for Sand Hill clients who have retired or are getting closer to retiring (9:19). In their talk, Ms. Vingiello notes how commodities served as a “lifesaver” within Sand Hill’s diversified allocation coming into this year and how most of Sand Hill’s client base just likes traditional stocks and bonds.
Other topics covered include opportunities in the stock market (10:14), Sand Hill’s stance on the possibility of recession (11:44), the effectiveness of FOMC messaging (14:00) and putting big vacation plans on hold for the next year (16:34). In describing her relationship with clients, Ms. Vingiello says, “Such an important piece of what we do is helping people to not make a bad emotional decision at the wrong time with the market.”
As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.
Mr. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) and Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.