When Building Wealth, Don't Be A Hedge Fund: BNY's Levine

Summary

Alicia Levine, chief investment officer at BNY Wealth, discusses retirement planning and wealth building with Scarlet Fu and Tom Keene on Bloomberg Money. Her core message is that investors should not run wealth portfolios like hedge funds or trade allocations around headlines. She stresses that wealth is built over decades, frequent trading hurts returns, and missing top market days can cause significant long-term underperformance.

• Alicia Levine of BNY Wealth joins Bloomberg Money to discuss retirement planning and asset allocation.
• She says the biggest wealth-management mistake is trading allocations in response to headlines.
• Levine argues wealth is built over decades and that day trading or annual trading is not appropriate for wealth building.
• She says missing the five best market days can lead to about 5% annualized underperformance over 20 years.
• She cites 2008 as an example where selling would have missed a sharp market rally.
• She frames tariffs, war, and oil at $105 as scary headlines that tempt investors to sell, but she does not give directional views.