Dr. Alan O'Sullivan

Past performance is no guarantee of future performance, but yet we still hone in on the average performance of funds or the...

average risk or volatilities.

So we discussed that, but we also finally then look at leadership, and it's another big area for Sebastian.

He's focused on leadership skills, and I know that would be of keen interest to this audience, but also he has a new book out, which I'll put some links to the show notes as well.

Okay, enough from me.

I hope you enjoy this part too.

of my interview with Sebastian Page on The Most Important Thing podcast.

Thank you.

Your book also talks a lot about the stock bond correlation or lack thereof now, perhaps in a different regime.

In terms of the stock bond correlation, but also this notion of negatively correlating assets.

So we talk to our clients about the importance of having assets in the portfolio that behave differently during a stressed environment.

That's very easy, say, but quite difficult to implement.

Can you maybe speak to that challenge?

You talk a lot as well in the book about sample size in terms of... I thought it was fascinating that you reveal that the opposite of what we believe may be true in terms... As researchers, as practitioners, we're told large sample size is better because we've more observations, more information.

But you actually say no.

And the reasons you give are quite interesting in terms of how relative is 1926...

to what's going on today in this economy.

And that actually is very intuitive.

Can you speak to that?

This is like a portfolio construction masterclass.