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 Jurrien Timmer, Director of Global Macro at Fidelity Investments. He has 30 years' experience in the investment world and is a 22-year veteran at Fidelity. Mr. Timmer plays a key role in Fidelity's $425 billion Global Asset Allocation group, where he specializes in asset allocation and global macro strategy. As an investment strategist, his work comprises a unique blend of macro-economic, technical, and quantitative disciplines. Mr. Timmer's global macro research is widely followed within Fidelity by its portfolio managers, analysts, and senior executives. In addition to this internal role, he has become one of Fidelity's primary spokesmen. In this role, Mr. Timmer regularly presents his investment outlook to Fidelity's clients and associates at meetings and conferences in the US and around the world. He also publishes a monthly investment outlook for clients, and appears regularly in TV and in print. Mr. Timmer joined Fidelity in 1995 as a technical research analyst and in 1998 became Fidelity's chief market strategist. In this role, he became involved with Fidelity's legendary Chart Room. Mr. Timmer joined the Asset Allocation group in September 2005. He received a Bachelor of science degree in finance from Babson College in Wellesley, Massachusetts, in 1985.
Tune in to hear:
In this episode, we discuss Jurrien’s career, his uniquely narrative approach to technical analysis and his secrets for unlocking resilience and wellness in daily life.
Quotes
“Some people want that big, bombastic call, like ‘buy or sell, you know crash or boom.’ To me, there’s not a lot of use in…these binary calls, you [have] like a 50/50 shot of being right [and] it’s not how people, in my view, should be making investment decisions. So, my stuff can seem a little hedged, nuanced or boring, but I want to help people make the best decisions…so there are no easy answers, people have to do it themselves. They have to do this with conviction so that whenever the market they’re investing in draws down, they have that sense of conviction and can bear through this.” - Jurrien Timmer
“The 60/40 paradigm is completely predicated on the assumption that bonds are inversely, or negatively, correlated to stocks. The point is that equities are the anchor, they are driving the bus in terms of your returns. Nothing compounds like equities over the long-term. The price for that compounding, of course, is that every other year you get a 10% correction, every four years you get a 20% bear market. So, that volatility, or those draw downs, are the price of admission...for gaining that 10-11% over time, which over decades really compounds in a meaningful way…From the late 90’s until 2021 that’s exactly what happened, but there have been many many decades before then, and certainly the last few years since then, where bonds have been positively correlated to equities” - Jurrien Timmer
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