“We sold all their fixed income kind of intermediate and longer-term fixed-income assets, invested the money in short-term treasuries. And then we took a portion of the equity the insurer invested in a common stock portfolio.”

“I have set to reinvest back into that portfolio because I want it to continually grow… when I get to retirement… every dollar it makes is going to come to me as my income”

“Our portfolio analysis since 2023 suggests a diversified APEC fixed income portfolio could target a 7.5% return with a vol of roughly 4%, depending on allocation constraint.”

“We will at times purchase insurance, whether it's idiosyncratically for a given circumstance in a given market or overall in the portfolio, if we think something large enough is perhaps occurring that will have consequential effects on the entire portfolio. So you could actually go out and buy options or some explicit insurance”

“I think it's a completely reasonable position to take. It's essentially a Larry Swedrow position, right? He says, take your risk on the equity side, right? Keep your bonds very safe, very high quality, very short-term, you know, short-term treasuries, for instance. Well, the shortest-term bonds are cash, right? That's what cash is.”