Rethinking Bonds: Bonds Carry More Risk Than Stocks in Next 2 - 3 Years
Ryan Nauman hosts Zephyr’s Adjusted for Risk Podcast with guest Edison Byzyka, Chief Investment Officer of Credent Wealth Management, a $4.5B fee-only RIA headquartered in northeast Indiana. They discuss today’s macro uncertainty (Iran conflict, oil, inflation) while emphasizing skepticism and reliance on data such as economic surprise indices, forward inflation expectations, labor resilience, and high-yield spreads that don’t signal major distress. Byzyka explains how Credent defines risk primarily as drawdowns rather than benchmark-relative volatility, aiming for positive risk-adjusted…
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