Lessons Learned While Working at The Fed, Recession Predictions, And How to Win During Challenging Markets | Jake Schurmeier
Millionaire Mindcast
Matt Aitchison Media, Inc
4.4 • 716 Ratings
🗓️ 29 May 2023
⏱️ 42 minutes
🧾️ Download transcript
Summary
In this episode of the Millionaire Mindcast, Jake Schurmeier of Harbor Capital Advisors shares his perspective working on how Fed and Treasury work together and affects the economy, the things he learned working in Fed, recession predictions, dollar currency issue, and the key things to win the challenges markets!
Jake Schurmeier, Multi-Asset Solutions Team Portfolio Manager at Harbor Capital Advisors, a 40 million asset management company, the best portfolio team that you can find around the globe. He’s more in public policies as formerly as a Senior Trader/Analyst Treasury Markets at Federal Reserve Bank of New York and U.S. Treasury for over 6 years.
Some Questions I Ask:
Give us a little backdrop on your journey of where we find you today?
What are some of the things you’ve learned from the Fed that most people don’t know, and that help you better navigate the macro picture of the markets?
What are your thoughts on Jerome Powell, and how he’s doing in Fed?
In working for the Federal and Treasury, how do these two organizations work together in terms of monetary policy, managing inflation, and economics in macro perspective?
In your perspective, what are some of the things that are harmful that maybe could be adjusted to create a more fluent system for the current time that we’re in and we’re heading?
What are your thoughts on challenges that original banks are facing right now?
Where are we in a macro-economic cycle, and macro-economic problems that we are still working through?
What are your thoughts around a hard or soft landing, and the likelihood of another recession?
What are your overall thoughts on the debt ceiling getting raised, and is that really something that is getting solved in a more macro picture?
What are your thoughts around the narrative and the likelihood, if ever the US dollar falls off as the reserve currency of the world?
What’s the short-term defense with the risks you see out on the horizon, and short-term and long-term offense you guys see as an opportunity coming out of all of these?
What does your investment focus and discipline look like as an investor yourself?
What’s your take on real estate investments as a holistic approach to your portfolio long-term?
In This Episode, You Will Learn:
How the Fed affects financial conditions.
The good things of working in Fed.
The small changes away from the dollars.
The key things to win today's challenging markets.
Quotes:
“Stay invested, focus on your medium to long-term goals, there’s a lot of noise in finance markets.”
Connect with Jake Schurmeier on:
https://www.harborcapital.com/author/jake-schurmeier
https://www.linkedin.com/in/jakeschurmeier/
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Transcript
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| 0:00.0 | You need to find an investment process that works for you that you can stick to, that you can remain disciplined in. |
| 0:07.0 | And that's kind of the key thing, you know, whether, you know, that's being a value investor or growth investor, things that you're passionate about. |
| 0:14.0 | You know, we have products and, you know, investment teams that focus on all of those areas. |
| 0:19.0 | But the most important thing that all of our investment teams share is that they're disciplined, |
| 0:23.9 | their process oriented, and they're thinking about their investment goals over the long term. |
| 0:42.5 | Well, I'm excited to welcome into the show, Jake Shermire of Harbor Capital Advisors. |
| 0:43.0 | How are we doing, brother? |
| 0:45.1 | I'm doing all right. Thanks for having me. |
| 0:50.3 | Depending on how the market is doing, does your mood fluctuate up and down, or are you just kind of slow and steady no matter what? |
| 0:52.7 | You know, you try to be slow and steady you know we're |
| 0:54.8 | human and we're imperfect but you know it's it's not great to be emotional while you're investing |
| 0:59.3 | absolutely we talk a lot about that on the show with all of our investors and you know wealth builders |
| 1:05.3 | that are looking to obviously always find that edge and just stay you know ahead of ahead of what the narrative is. And I know we're |
| 1:12.2 | going to dig into that and talk a little bit more of the current events. But for those that don't know |
| 1:16.3 | who you are, what your role is at Harbor Capital Advisors and kind of your world that you play |
| 1:21.5 | and give us a little backdrop on your journey of where we find you today. Yeah, of course. |
| 1:26.5 | So you're speaking to you from Chicago. |
| 1:28.5 | Fortunately, it's a nice sunny day here. |
| 1:30.9 | So Harbour Capital Advisors, we're a $40 billion asset management firm that's really focused |
| 1:36.0 | on finding and curating kind of the best portfolio management teams we can find around |
| 1:40.5 | the globe and delivering those and kind of whatever investment vehicle investors |
| 1:44.8 | prefer. So me, I'm a portfolio manager within the multi-asset solutions team. So we do a number |
... |
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