Send us a text"RAISE CAPITAL LIKE A LEGEND: https://go.fundraisecapital.co/apply"Is the traditional 60/40 portfolio officially dead?In this episode of Making Billions, host Ryan Miller sits down with Tony Davidow, Senior Alternatives Investment Strategist at the Franklin Templeton Institute, to deconstruct why traditional asset allocation is structurally broken and how private markets are becoming the new foundation for institutional-grade returns. As public markets shrink and become hyper-efficient, the quest for alpha has shifted toward private equity, private credit, and real assets. Tony explains why sizing matters, how to reframe illiquidity as a design choice rather than a risk, and why the next decade belongs to those who can navigate the inefficiency of private markets. Subscribe on YouTube:https://www.youtube.com/channel/UCTOe79EXLDsROQ0z3YLnu1QQConnect with Ryan Miller:Linkedin: https://www.linkedin.com/in/rcmiller1/Instagram: https://www.instagram.com/makingbillionspodcast/X: https://x.com/_MakingBillionsWebsite: https://making-billions.com/[THE HOST]: Ryan Miller is a recovering CFO turned angel investor in technology and energy.[THE GUEST]: Tony Davidow is responsible for developing and delivering the Franklin Templeton Institute’s insights on the role andSupport the showDISCLAIMER: The information in every podcast episode “episode” is provided for general informational purposes only and may not reflect the current law in your jurisdiction. By listening or viewing our episodes, you understand that no information contained in the episodes should be construed as legal or financial advice from the individual author, hosts, or guests, nor is it intended to be a substitute for legal, financial, or tax counsel on any subject matter. No listener of the episodes should act or refrain from acting on the basis of any information included in, or accessible through, the episodes without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer, finance, tax, or other licensed person in the recipient’s state, country, or other appropriate licensing jurisdiction. No part of the show, its guests, host, content, or otherwise should be considered a solicitation for investment in any way. All views expressed in any way by guests are their own opinions and do not necessarily reflect the opinions of the show or its host(s). The host and/or its guests may own some of the assets discussed in this or other episodes, including compensation for advertisements, sponsorships, and/or endorsements. This show is for entertainment purposes only and should not be used as financial, tax, legal, or any advice whatsoever.

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“What did the council decide on item 42?” — answered with the speaker and the moment.