In this episode, Rodrigo Gordillo sits down with Rafael Ortega, a distinguished Spanish investor and Senior Investment Fund Manager at Andbank Wealth Management. Known for pioneering innovative portfolio solutions in Spain—from the classic permanent portfolio to advanced return stacking and off-road strategies—Rafael discusses a wide range of topics including diversification, structural risk balancing, leveraging, regulatory hurdles, and the future of portable alpha in today’s dynamic markets.

(0:00 ) Event announcement: Return Stacking Symposium at Cboe Global Markets

(0:44 ) Introduction to the Get Stacked Investment Podcast and Guest Rafael Ortega

(3:40 ) Discussion on return stacking and balanced portfolio approaches

(5:09 ) Rafael Ortega's journey from engineering to investment management

(8:56 ) Exploring Harry Brown’s permanent portfolio concept

(12:16 ) Asset performance across different economic cycles

(17:52 ) Building a community around structural diversification

(22:49 ) Rafael Ortega on the challenges and opportunities with conservative strategies

(26:40 ) Risk balancing and the impact of volatility on returns

(32:04 ) Understanding the concept of return stacking

(34:14 ) Tackling operational and compliance challenges in investment management

(37:02 ) Examining the role of leverage in diversified portfolios

(40:23 ) Comparing drawdown recovery: S&P 500 vs. diversified portfolios

(45:07 ) Educating investors on the value of diversification

(47:21 ) Debunking misconceptions about all terrain portfolios

(48:09 ) The long-term benefits of a more efficient portfolio

(52:43 ) Managing emotions during market downturns

(54:53 ) Resilience of leveraged portfolios

(57:00 ) Predicting the mainstream adoption of diversifiers

(59:30 ) Tailoring investment strategies to different investor profiles

(1:01:00 ) Growing interest in return stacking and portable alpha

(1:03:04 ) Navigating regulatory challenges in investment strategies

(1:06:26 ) Prospects for the long-term adoption of return stacking

(1:07:42 ) Closing remarks and Rafael Ortega's online presence

(1:09:19 ) Outro and call to action