Transcript
Introduction
Patrick
My guest this morning is Dan Rasmussen of Verdad Capital. Like me, Dan and his firm focus on quantitative research. Just a month ago, before the COVID crisis hit markets, they completed and published a study on investing during periods of market crisis, which is the topic of this conversation. We discuss what works and what doesn't, during and after acute periods of panic in markets. I think you'll find it extremely informative. Because Dan's firm and my own share many beliefs about investing and conduct similar flavors of research, I try to offer devil's advocate questions throughout. Please enjoy.
State of Financial Markets
Dan, great talking to you. Great to do this on short notice. I really appreciate it. I think a great place to start, given your area of focus and specialty, would just be on the lay of the land, what you've seen thus far in parts of the market that you focus on in your portfolios. And then, I want to go pretty deep into a study you put out not that long ago about investing through periods of crisis and really take it piece-by-piece to share with the audience the lessons that you learned, I think, in a two-year research project. So this was not some reactive thing in response to COVID, but a long, careful study that you and your team have put together. So maybe you could begin with the lay of the land. And then, we'll dive into the research.