Jonathan Treussard is Founder of Treussard Capital Management. Jonathan, my former PhD student, returns to Economics Matters -- the Podcast to discuss his 2024 market outlook. Jonathan starts off reviewing 2023's remarkable soft landing and surprising stats, including almost 5 percent real GDP growth, 2.7 percent labor-productivity growth, sustained low unemployment, plunging inflation and interest rates, significant gains in stocks and other assets markets, and very low levels of risk. Jonathan then tells us what could go wrong in 2024, including the economy's returning to normal, the banks getting further slammed by commercial real estate, a trade war or worse with China, inflation kicking back up, and more.
Jonathan Treussard, Ph.D. is the founder of Treussard Capital Management LLC, a registered investment advisor that operates as a fiduciary for its clients. With his extensive academic pedigree and practical experience, Jonathan brings a unique combination of experience to the practice of wealth management. Jonathan's career prior to TCM includes leadership roles at elite investment organizations in New York City and California. He is also a thought leader in the field of investing.
During the Global Financial Crisis, Jonathan Treussard was a senior member of the risk management team at Ziff Brothers Investments, the investment vehicle for the Ziff family in New York City. Jonathan's efforts allowed the firm to mitigate potential losses and protect assets during one of the most significant financial crises in recent history. His contributions as a risk management professional demonstrated his ability to thrive under pressure and make sound decisions in the face of adversity. At Research Affiliates, a $150-billion quantitative global asset manager, he served as Partner and Head of Product, driving the firm's product strategy across all asset classes and around the globe. Among many publications, Dr. Treussard co-authored the firm's Investment Beliefs, providing a framework for making strategic decisions in the pursuit of the firm's mission to "Transform the Global Investment Community for the Benefit of Investors." Immediately before launching TCM, Jonathan served as Senior Vice President for the Irvine Company's Investment Fund in Newport Beach, California, taking him back to his earlier experience of serving in a senior investment role for ultra high net worth individuals.
Dr. Treussard holds a Ph.D. in Economics (specialized in Econometrics and Finance) from Boston University, where he was the recipient of a full Presidential Fellowship. He received a B.A. in Economics and International Studies from UCLA (Summa Cum Laude and College Honors). Jonathan has taught investment courses at several universities, including for MBAs at the MIT Sloan School of Management in Cambridge, MA.
Economic Matters - The podcast is hosted by Laurence Kotlikoff and moderated by Alex Kotlikoff.