Tall Oaks Podcast
Educating and empowering individuals that want to have more effective engagements with professionals around their financial lives.
DISCLAIMER: Information presented is for your educational purposes only and should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented.
Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
Tall Oaks Podcast
You Don't Actually Understand Risk (And Why That's Dangerous) | Dr. Ron Picanini
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Risk gets thrown around like it's a math term, but your life experiences it as a margin call. In this episode, we sit down with Ron Piccinini to rebuild the definition from the ground up: risk is the loss you can take and the collateral you'd need to survive the bad day. Once you see it that way, "more risk" stops meaning "more volatility" and starts meaning something you can actually manage with sizing, constraints, and a plan.
We dig into tail risk, heavy tails, and why markets don't behave like a normal distribution. Ron explains the difference between true black swans and events that only look shocking because the model was underpowered. We also tackle the uncomfortable truth that a tiny number of days can drive the bulk of long-term stock market returns—which is why emotional exits near the lows can quietly ruin an otherwise solid investment plan. Then we move into portfolio diversification, correlation failures, and why the classic 60/40 can disappoint when regimes change. We connect the dots to global liquidity, central banks, and why assets that "should diversify" can fall together when financing conditions shift.
The big takeaway: Build a robust risk management process that helps you stay invested through stress without pretending you can predict the exact day the storm hits.
Find Ron here:
https://altiumstrategies.com/
Find Du Charme Wealth Management here:
https://ducharmewealth.com
Phone:
(435) 288-3396
DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
[00:00:00] Rethinking Risk Beyond Volatility
[00:09:09] From LTCM Blowup To Research
[00:20:10] Tail Risk Meets Human Behavior
[00:28:51] Why A Few Days Matter Most
[00:36:21] Robust Systems And Volatility Regimes
[00:40:36] Active Management And Real Benchmarks
[00:52:02] When Correlations Break In Practice
[01:06:13] Prudence, Process, And The House Edge
[01:16:41] How To Reach Ron And Wrap