Philip & Allan Maymin – Compounding Through Risk, Not Return (S7E35)

Why might managing drawdowns improve long-term compounding more reliably than chasing average returns? Philip and Alan Maymin, co-heads of global asset allocation at Janus Henderson, discuss using options as forward-looking signals of upside and downside risk. They explain how those signals propagate across more than 4,000 assets, and why simple portfolio construction can better reflect client objectives, taxes, and constraints.