Key ideas from Cullen Roche

• Colin Roche argues everyone needs their own customized portfolio rather than a one-size-fits-all model, as detailed in Your Perfect Portfolio
• The 60/40 portfolio traces back to Walter Morgan's Wellington Fund during the Great Depression, when adding bonds provided crucial downside protection
• Your human capital and stable income should be viewed as a literal fixed income allocation when constructing your investment portfolio
• Risk profiling through hypothetical questions fails because 98% of people give the same 'right' answers, but panic during actual market crashes
• Tech companies now represent 33% of the S&P 500 with unprecedented profit growth, leaving 67% of the market for potential future expansion
• The global financial asset portfolio shows true passive investing is impossible since most assets are uninvestable or held by central banks
• Real estate purchased with leverage in 2016 became potentially the best inflation hedge trade of the last 50 years through COVID
• Trend following strategies offer true uncorrelation but suffer from sequence of returns risk after periods of strong performance