Ep12. Rafael Ortega: Using Return Stacking To Build an All-Terrain Portfolio

In this episode, Rodrigo Gordillo sits down with Rafael Ortega, a distinguished Spanish investor and Senior Investment Fund Manager at Andbank Wealth Management. Known for pioneering innovative portfolio solutions in Spain—from the classic permanent portfolio to advanced return stacking and off-road strategies—Rafael discusses a wide range of topics including diversification, structural risk balancing, leveraging, regulatory hurdles, and the future of portable alpha in today’s dynamic markets.

Speakers

AI Chat

Rafael Ortega

Guest • 56%

Rodrigo Gordillo

Host • 1%

Unidentified

Rodrigo Gordillo

Host • 42%

Chapters

0:00	Introduction and Welcome
1:05	Host and Guest Introductions with Rafael Ortega
2:43	Rafael's Transition from Engineering to Finance
8:16	The Evolution of the Permanent Portfolio
10:10	Economic Cycles and Asset Behavior Analysis
13:46	Diversified Portfolio Challenges in Spain
16:32	Building a Diversification Community
22:07	Transition to Balanced Investment Strategies
24:19	Exploring the Limitations of Non-Leveraged Portfolios
27:20	Equal Risk and Low Volatility Portfolio Strategies
30:10	Overcoming Diversification Struggles
31:24	Introduction to Return Stacking
33:30	Operational Challenges in Portfolio Management
34:22	The Role of Leverage in Portfolio Balancing
37:54	Communicating Diversification Benefits
40:33	Drawdown Comparisons in Varied Portfolios
46:09	All Terrain Portfolio Concept
49:12	The Importance of Diversified Portfolios
51:04	Market Crisis Experiences and Insights
54:30	Advantages of Diversification and Return Stacking
56:23	The Future and Mainstreaming of Return Stacking
58:46	Addressing Return Stacking Skepticism and Transparency
1:00:01	Return Stacking in Europe: Regulatory Perspectives
1:03:25	Morningstar's Portable Alpha Category
1:05:07	Simplifying Portfolio Construction
1:07:17	Guest Social Media and Spanish Resources
1:08:26	Closing Remarks and Call to Action

Transcript

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