Invest Well, Be Well

Don Calcagni: Theory Meets Practice - Investing Well and Living Strong

Episode Summary

A podcast for wiser investing and stronger living. Success in the markets and in life requires sound investments — in our portfolios and our personal wellness. A weekly show, Invest Well, Be Well explores the principles of long-term investing, behavioral finance and peak performance with top-performing investment professionals and cross-industry leaders. Hosted by investment executive Rusty Vanneman and seasoned journalist Robyn Murray, each episode offers practical strategies for building wealth and prioritizing well-being, so you can make better decisions, grow your resilience and elevate your life. In this episode, we spoke with Donald Calcagni, Chief Investment Officer at Mercer Advisors. As Chief Investment Officer, Don is responsible for setting the strategic direction of the firm’s investment platform, chairing the firm’s investment committee, overseeing all investment-related communications and the prudent stewardship of the firm’s assets under management. His expertise is in the areas of fiduciary oversight, economics, financial mathematics, portfolio management, corporate finance and taxation. A renowned thought leader, public speaker and industry commentator, Don is regularly interviewed by the news media and financial press on a variety of economic and market-related matters. He’s frequently interviewed by Bloomberg, The Wall Street Journal, CNN Business, MarketWatch and US News & World Report. In addition to his professional activities, Don also served as an Adjunct Professor at Widener University and as a Guest Lecturer at the University of Colorado at Boulder. Don earned his MBA from The University of Chicago Booth School of Business and his Master’s in Taxation from Widener University. Don is a CERTIFIED FINANCIAL PLANNER® professional, and has also earned the Accredited Investment Fiduciary® designation from the Center for Fiduciary Studies (Fi360).

Episode Notes

Tune in to hear:

In this episode, we discuss how to take great investment theory and make it actionable for the everyday investor, some of the biggest behavioral mistakes Donald has seen in both individual and professional investors and how to synthesize the cultures of two merging finance firms.

Learn more about Mercer’s culture and investment philosophy from their CIO
How does Mercer balance the insights of academic research with the practical realities of working with clients and real world markets?
How does Donald take great investment theory and make it work for the everyday investor?
How does Donald incorporate new structural changes into his investment thinking when they don’t have long historical data sets?
How do you determine when a secular shift truly changes the investment landscape vs. when it is simply just another market cycle?
As a Chief Investment Officer, how does Donald balance the data-driven discipline with the human side of investing like client emotions, behaviors and their expectations?
What are some of the biggest behavioral mistakes Donald has seen both individual and professional investors make and how does he help them stay disciplined?
When Mercer acquires advisory firms that have long been independent, how do they strike the right balance between keeping their individuality and creating a standardized investment approach across all Mercer advisors?
What does a typical day, or week, look like for Donald and how does he maintain his energy with his demanding schedule?
Does Donald have any non-negotiables or family routines that really help him stay balanced?
How does Donald’s experience with farmland inform how he thinks about the markets or patience more generally?
What advice would Donald give to other executives, or investors, who are trying to maintain high performance and wellness over the long run?

Quote

“We live in an age where there is so much of what I call ‘financial pornography’ out there, on the internet and everywhere else, that really does a poor job managing investor expectations. So, I think, a big part of our job as advisors is to manage investor expectations [and] to use technology to personalize their portfolios where we can and where is appropriate. I think that’s really the hallmark of what it means to be a wealth manager, is marrying the personal with the portfolio.” - Donald Calcagni

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