Markets & outlook · Podcast

Peter Lazaroff - The Perfect Portfolio: How to Build an Investment Strategy That Fits Your Behavior, Goals and Life

For advisors, the episode focuses on practical ways to keep client behavior from undermining portfolio outcomes, including guardrails and techniques for countering biases. It also offers a framework for discussing portfolio fit with clients.

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On the publisher’s site

Summary

By the markets & outlook desk

Dr. Daniel Crosby talks with Peter Lazaroff about his book The Perfect Portfolio, which argues that the best portfolio is the one suited to its owner rather than the mathematically optimal one. The conversation covers building portfolios around human behavior, advisor guardrails for loss aversion, attention as an investment risk factor, confirmation bias and recency bias.

Peter Lazaroff says the perfect portfolio is the one that best suits the individual who owns it.
He argues portfolio construction should center on human behavior rather than what is mathematically optimal.
The episode discusses advisor guardrails to protect against loss aversion's effect on investor behavior.
It also covers attention as an investment risk factor and how to address confirmation and recency biases.

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