Standpoint logo

Content Library

Sebastien Page - February 2022

Sebastien Page is the head of the Global Multi-Asset Division at T. Rowe Price. You can also find his book, Beyond Diversification: What Every Investor Needs to Know about Asset Allocation on Amazon.

Key Takeways

  • Concerning stock and bond correlations, as long as the new market information is about GDP correlation tends to remain negative. But if the new information is concerning inflation or interest rates correlation between stocks and bonds can become positive.

  • If you have your head in the freezer and your legs in the oven your average temperate might be normal, but you’re certainly not comfortable. The same goes for correlations, average correlation is not indicative of correlations in different environments.

  • What do wine, eggs, coffee, and interest rates have in common? I don’t know if they’re good or bad for me. 

  • The only way to get a 3.0 Sharpe Ratio is to be Bernie Madoff or a quant with a backtest.

  • Bill Sharpe described retirement planning as the one of the most difficult problems to solve in all of finance.

Contact Standpoint

info@standpointfunds.com602.688.2918
Schedule a callFAQs

Standpoint Updates

Sign up for monthly updates

Scroll back to top

Important Disclosures

Views are as of the date of the respective video, article or web page and are subject to change based on market conditions and other factors. The views expressed herein represent the opinions of Standpoint Asset Management, LLC (Standpoint) and are not intended to predict or depict performance of any particular investment. All data provided by Standpoint including any reference to specific sectors is provided for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security. These views presented are subject to change.

Standpoint is an investment advisor registered with the US Securities and Exchange Commission (SEC). For more information regarding the firm, please see its Form ADV on file with the SEC. Registration with the SEC does not imply a particular level of skill or training.

All investing, including all weather investing, involves a certain amount of risk. The all-weather investment approach strives to distribute and control risks but may reduce the potential returns of the portfolio. While all-weather investing aims to provide stability through various market conditions, investors should be aware of the potential risks and limitations of the strategy and consider their own risk tolerance and investment objectives before implementing it.

Investing in securities involves risk of loss that investors should be prepared to bear. Past performance is not indicative of future results.  Investment return and principal value will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Diversification does not guarantee a profit or protect against a loss.

Standpoint does not endorse and is not responsible or liable for any content, advertising, products, services, or information on or available from third-party websites or materials. Standpoint may use content on this website that has been supplied by companies that are not affiliated with Standpoint (third-party data). Any third-party data contained on Standpoint’s website has been obtained from sources believed to be reliable, but the accuracy or completeness of the information cannot be guaranteed.

Standpoint is committed to make this website accessible to all audiences, including people with visual, hearing, mobility, and other disabilities. Reasonable efforts will be made to accommodate all users who utilize standard compliant web browsers, as well as enabling software or assistive technology.

If you are having any problems accessing the information found on this website, please contact us for assistance. Please note the nature of your accessibility problem, the format in which you prefer to receive the material, the web page address of the requested material, and the best way to contact you.

Please contact us via email at info@standpointfunds.com or by calling (602) 688-2918.