Cullen Roche on the Art of Building a Perfect Portfolio

Bullish:

• $TECH - Tech companies make unprecedented profits and continue to grow rapidly, with potential for market cap to reach 50-70% of S&P 500 as everything becomes tech-driven.

  • “these companies are they make more money than any entities have ever in human existence”

    Cullen·43:24

  • “And every year, they beat analyst expert.”

    Joe·43:31

  • “It's crazy, and they're growing crazy, crazy fast”

    Cullen·43:33

  • “I don't think it's unreasonable to say that in forty or fifty years, the market cap of technology in the S and P 500 might be $50.60, 70 percent. Who knows? Like, everything's probably turning into a a tech years”

    Cullen·45:10
• $ECOMMERCE - E-commerce currently only 25% of retail sales with massive growth runway to potentially 50-70% as all retail transitions online.

  • “this is currently, whatever it is, 25% of all ecommerce retail sales as a percentage of total retail sales. It's 25%. And that number, you know, is probably gonna go to 50 or 60 or 70% at some point in the future. All retail sales will just turn into e commerce sales”

    Cullen·44:07

  • “Like you said, like, you know, this is there's 75% more for e commerce to gobble up. I believe that”

    Cullen·44:26
• $GLD - Gold has unique uncorrelated properties with a 'faith put' premium as people view it as money and store of value beyond just commodity inputs.

  • “Gold is a really screwy one because gold has this whole other element to it where there's huge swaths of the population that view gold as money”

    Cullen·21:45

  • “It's got this store of value in this sort of I refer to it as a faith put inside of it where its price almost gets like a premium because it's not just an input”

    Cullen·22:02

Bearish:

• $BONDS - Bonds have underperformed and shown high correlation with stocks during downturns, failing to provide expected diversification benefits.

  • “why own treasuries? Why own whatever, etcetera?”

    Joe·3:57

  • “He was like, well, don't.”

    Tracy·3:44

  • “He's like, I'm in I'm in pipelines. That's where that's where I'm getting my or I'm in whatever m l m m p MLPs or whatever. That's where I'm getting my yield”

    Joe·3:45

  • “when stocks and bonds become highly correlated and you own that 6040 portfolio that, you know, the bonds go down 15% or whatever and the stocks also go down 25%. Well, then you look at your portfolio at the end of the year and you say, I don't I'm not actually diversified”

    Cullen·50:13