Philip Huber, Chief Investment Officer of the registered investment advisory firm Savant Wealth Management, discusses asset allocation and alternative investments on Sept. 13, 2022, with hosts Jeffrey Sherman and Samuel Lau. Mr. Huber is the author of “The Allocator’s Edge: A modern guide to alternative investments and the future of diversification.” The discussion begins (1:58) with Mr. Huber’s career in asset management. Then Messrs. Huber, Sherman and Lau discuss Mr. Huber’s views on the appropriateness, risks and uses of interval funds (13:11); his use of liquid and semi-liquid alternative investments, including managed futures, diversified arbitrage strategies, floating-rate catastrophe reinsurance assets, real assets and direct lending (21:23); the importance of a core allocation to bonds, even in a time of tightening monetary policy and rising rates (24:47); Savant’s long-term tilt to value in its equity allocation (26:44); and innovations in alternative investments (31:55), including the development of true private markets for wealth managers and, in the retail space, the advent of fractionalized ownership and trading of collectibles, paintings and other illiquid assets via consumer apps.
Jeffrey Sherman, DoubleLine’s Deputy Chief Investment Officer, is a thought leader, portfolio manager and public speaker in the industry. Mr. Sherman is a member of DoubleLine’s Fixed Income and Global Asset Allocation committees, and he serves as lead portfolio manager for the firm’s multi-sector and derivative-based strategies. In his role, Mr. Sherman guides the investment teams in developing top-down macro views and collaborative asset allocation processes throughout a market cycle. Additionally, he is a member of DoubleLine’s Executive Management Committee. In 2018, Money Management Executive named Mr. 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. Prior to that, he was a statistics and mathematics instructor at the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the USC/CFALA CFA® 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 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.
