Successful Portfolio Strategy Is As Much Art As Science With James Kostohryz (Podcast) (NYSEARCA:SPY)

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By Jonathan Liss

One of Seeking Alpha’s most popular contributors since he began writing for the site in 2009 at the end of the global financial crisis, James Kostohryz spent the first two decades of his career working exclusively with investors. institutional. This included investing and trading virtually every asset class across the globe, including at some of the world’s top asset managers and investment banks. Later, James started a consulting firm aimed solely at financial institutions.

After amassing nearly 25,000 followers on Seeking Alpha – the result of his unique view of the macro environment and how the broader macro picture should influence investors’ portfolios – James decided to shift focus and d to offer an investment service intended for independent private investors. As he explains during our conversation, “Although the differences in temperament between institutional investors and retail investors are somewhat exaggerated, it is true that due to different expectations regarding market behavior, investors individuals are more likely to make behavioral errors that harm their long-term return.”

Setting expectations properly is one of the main things James does at Successful Portfolio Strategy, the Seeking Alpha Marketplace service he launched in 2019. The service was one of the Marketplace’s top producers in 2020 (it was number one in April), largely a result of the soothing voice and guiding hand James and his team provide subscribers throughout the trading day. The service combines long-term fundamental views (James remained bearish throughout the COVID-19-induced slowdown and stimulus bounce) with shorter-term technical readings, offering a hybrid approach to “beat the market on a full business cycle. The two centerpieces of the service are the very active set of chat rooms on everything from general market discussions, proprietary trading strategies, and COVID-19 scientific and medical research and portfolios that James offers: The longer-term total return portfolio and the more trade-oriented proprietary trading portfolio.

During our conversation, we touch on everything from the likely depth and duration of the COVID-19-induced global recession, the apparent disconnect between economic fundamentals and stock market techniques, differences in temperament among institutional investors and retail, and many more. Continued.

So what are investors to do when the fundamentals and the underlying technicals of the market are at odds? James Kostohryz offers listeners his recipe for a successful portfolio strategy.

Show Notes

  • 3:00 – After two decades of working exclusively with institutions, why did James decide to create an investment service for retail investors?
  • 7:30 am – Is there a difference in temperament between institutional investors and retail investors?
  • 10:45 – Given the severity of the global economic contraction resulting from COVID-19, how do you make sense of the recent extremely bullish market activity?
  • 10:00 p.m. – What are investors wrong when they say this is a “don’t fight the Fed” situation?
  • 42:00 – How do you use the interplay between fundamental and technical analysis to make better investment decisions?
  • 49:30 – How do you determine the positions in your portfolios?


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Don F. Davis