The Rational Reminder Podcast | RR #196 - Sebastien Betermier: Hedging, Sentiment, and the Cross-Section of Equity Premia @rationalreminder | Uploaded April 2022 | Updated October 2024, 6 hours ago.
Welcome back to the show all about sensible investing in Canada! Today we have yet another masterclass with a wonderful guest, Sebastien Betermier. Sebastien is an Associate Professor of Finance at Desautels Faculty of Management at McGill University, where he teaches investment management, applied investments, and pension funds retirement systems. We have a deep, thoughtful, and precise conversation with him about his recent research and papers, much of which stands in contrast to our usual fare on the show. In our chat, we dive into the nuts and bolts of asset allocation, hedging risk, and his research into what demographics can teach us about investment behaviours and returns. We also hear from our guest about interesting topics of expected persistence and tilting towards value stocks, before shifting the conversation towards homeownership and property investment. Sebastien provides some sound advice around when it might be a good idea to purchase property over other asset classes, and we evaluate this position from a number of different investing perspectives. Lastly, we spend some time looking at pension plans, and what we can learn from those available in Canada right now.
Timestamps:
0:00 Intro
4:45 Labor income & Financial Asset Allocation/ Hedging Risk/ the Value Ladder
22:57 Value Premium
29:55 Demographics & Investment Behaviors and Returns
50:07 Homeownership & Property Investment
1:06:23 Pension Plans in Canada
1:25:55 How do you Define Success in your Life?
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Shop Merch — shop.rationalreminder.ca
Join the Community — community.rationalreminder.ca
Follow us on Twitter — twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron on Twitter — twitter.com/CameronPassmore
Sebastian Betermier — sbetermier.com
22 in 22 Reading Challenge — Join the Rational Reminder’s 22 in 22 reading challenge!
Ben’s Reading Code (22 in 22 Challenge): 7XWESMK
Cameron’s Reading Code (22 in 22 Challenge): N62IPTX
'Hedging Labor Income Risk' — sciencedirect.com/science/article/abs/pii/S0304405X12000724
'Who Are the Value and Growth Investors?' — onlinelibrary.wiley.com/doi/abs/10.1111/jofi.12473
'What Do Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?' — cepr.org/sites/default/files/BCKK_InvestorFactors_20210301_Full.pdf
Welcome back to the show all about sensible investing in Canada! Today we have yet another masterclass with a wonderful guest, Sebastien Betermier. Sebastien is an Associate Professor of Finance at Desautels Faculty of Management at McGill University, where he teaches investment management, applied investments, and pension funds retirement systems. We have a deep, thoughtful, and precise conversation with him about his recent research and papers, much of which stands in contrast to our usual fare on the show. In our chat, we dive into the nuts and bolts of asset allocation, hedging risk, and his research into what demographics can teach us about investment behaviours and returns. We also hear from our guest about interesting topics of expected persistence and tilting towards value stocks, before shifting the conversation towards homeownership and property investment. Sebastien provides some sound advice around when it might be a good idea to purchase property over other asset classes, and we evaluate this position from a number of different investing perspectives. Lastly, we spend some time looking at pension plans, and what we can learn from those available in Canada right now.
Timestamps:
0:00 Intro
4:45 Labor income & Financial Asset Allocation/ Hedging Risk/ the Value Ladder
22:57 Value Premium
29:55 Demographics & Investment Behaviors and Returns
50:07 Homeownership & Property Investment
1:06:23 Pension Plans in Canada
1:25:55 How do you Define Success in your Life?
Links From Today’s Episode:
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — rationalreminder.ca
Shop Merch — shop.rationalreminder.ca
Join the Community — community.rationalreminder.ca
Follow us on Twitter — twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on Twitter — twitter.com/benjaminwfelix
Cameron on Twitter — twitter.com/CameronPassmore
Sebastian Betermier — sbetermier.com
22 in 22 Reading Challenge — Join the Rational Reminder’s 22 in 22 reading challenge!
Ben’s Reading Code (22 in 22 Challenge): 7XWESMK
Cameron’s Reading Code (22 in 22 Challenge): N62IPTX
'Hedging Labor Income Risk' — sciencedirect.com/science/article/abs/pii/S0304405X12000724
'Who Are the Value and Growth Investors?' — onlinelibrary.wiley.com/doi/abs/10.1111/jofi.12473
'What Do Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?' — cepr.org/sites/default/files/BCKK_InvestorFactors_20210301_Full.pdf
