Biography
Max Golts, PhD, is the chief investment officer at 4x4invest. Previously, he was a portfolio manager at Acadian Asset Management, a strategist at SSGA and Fidelity Investments, and a senior research analyst at GMO. He holds a PhD in mathematics from Yale University.
Portfolios that include both productive and scarce assets can deliver similar performance to the S&P 500 with less risk than those that hold only productive assets.
The 4×4 Asset Allocation philosophy approaches every asset or strategy based on how it contributes to — or detracts from — Growth, Income, Preservation, and Liquidity. So, what does a goal-based approach to equity factors actually look like from this perspective?
Assets and liabilities in any portfolio should contribute to liquidity maintenance, income generation, preservation of capital, and growth.