The Path to Financial Success: Understanding New Realities in a Changed World
Value Investor and Value Advisor, Barrack Yard Advisors
Martin Leclerc will discuss:
- Value-investing basics
- Understanding new realities in a changed world
The path to financial success partly involves formulaic behaviors around good financial hygiene such as living within your means, having a default savings rate, and making use of tax incentives.
Financial success also involves correct investment positioning. It is only through years of letting compound interest work its magic that most individuals can achieve a successful financial life.
Leclerc believes investors are too complacent about investment positioning. The popular 60/40 indexation portfolio works well in bull markets. It works well when starting valuations for stocks and bonds are low. However, it can be beyond disappointing for investors when valuations are at historic highs, as is the case today. Think 1965-to-1982, or 1999-to-2013. The S&P 500 went nowhere.
Leclerc will discuss two broad themes. First, value-investing basics. Topics will include investment versus speculation. Generational conceit. Curators’ mindset. Temperament. Power of compounding. Paradoxes. Mistakes. ‘Predictive’ behaviors and attributes.
The second part of the presentation will focus on understanding new realities in a changed world. The thesis is that a paradigm shift is taking place for numerous reasons: the long-term credit cycle, the failure of the dollar to keep its value, the non-inclusive nature of the prevailing form of capitalism. Changed societal mores. Geopolitical realities.
Leclerc will discuss trends that investors may think are set in stone, and which have propped up asset prices for a generation, but have run their course. He will argue the “party is over” for certain entities.
Marty will then posit some theories about the path forward for investors and specific ideas on how best to invest in such a world. All with a margin-of-safety if he’s wrong.
If you have questions you would like our speaker to address, please send them to [email protected]. We will forward them to him and ask him to do so.
Meeting Details:
Date: Saturday, March 11, 2023
Time: 10:00 a.m. ET (mix and mingle starts at 9:30)
Location: Barwell Road Community Center: 5857 Barwell Park Drive Raleigh, NC 27610
Virtual access: To register to attend the Zoom webinar, please purchase a ticket on our chapter’s Square account
Cost: $7 cash (in-person) or electronic payment (webinar)
Before attending in person, please read:
We encourage you to wear a mask during the entire meeting.
If you have COVID-like symptoms, please join us virtually.
About Our Speaker
Marty Leclerc is an investment adviser and money manager at Barrack Yard Advisors in Washington, D.C. He has over 40 years of experience in providing oversight and guidance to individual investors. Prior to establishing his advisory firm a decade ago, Marty worked at the Managing Director level for some of the leading investment banks, both here in the US and, for 8 years, in London, England. Currently a Forbes.com contributor, Marty has been widely quoted in national publications and interviewed on both television and the radio.