ALO19: Managing Wealth for HNW Investors ft. Joe Prendergast
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In this episode Joe Prendergast, Strategic Advisor and Head of Investment Strategy at Goodbody joins Alan Dunne to discuss the challenges and opportunities in managing wealth for HNW investors, particularly businesses owners. Joe outlines his investment philosophy and why a 50-50 allocation between growth assets and defensive assets is still at the core of his approach to proving a “peace a of mind” portfolio for investors. They discuss risk management and how to manage drawdown risk and the shortfalls of focusing too much on volatility as a risk measure when managing portfolios for private investors. They delve into the current investing backdrop, how higher interest rates have impacted asset allocation decisions and discuss why Joe is structurally more upbeat on the opportunities in public markets in the US but more optimistic on the opportunities in Europe and Asia for private equity.

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**Episode TimeStamps: **

**02:46 - **Introduction to Joe Prendergast

**04:50 - **Prendergast's learnings from working at Credit Suisse

**07:00 - **What types of portfolios are Prendergast running?

**09:49 - **Prendergast's investment philosophy

**13:59 - **How has 2022 changed the asset allocation space?

**16:32 - **Could we have another 2022?

**18:56 - **Having metrics for success

**26:50 - **Managing cash flow

**31:43 - **Shooting for a higher return

**39:33 - **Dealing with bumps on the road

**43:48 - **Prendergast's experience with the hedge fund industry

**46:29 - **Working as a Europe based FX investor

**51:10 - **Balancing attractive earnings capabilities vs a higher valuation starting point

**55:13 - **How Prendergast incorporates ESGs in his allocation

**59:46 - **Advice for other investors

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