David is Executive VP, Chief Financial, and Investment Officer and Treasurer of Thrivent, a Fortune 500 diversified financial services organization. As Chief Financial and Investment Officer, Royal is responsible for maintaining Thrivent’s ongoing financial strength and stability, ensuring the organization strategically manages its resources to deliver on the financial promises made to clients, generate financial returns, and drive organizational growth.
This was the worst year for a 60/40 portfolio [60% equities and 40% bonds] since 1931. Investors were shocked — I own bonds; I thought I was safe. This is probably a time when you want to be finally adding some duration, if rates really are peaking. The first thing I learned about investing was when you have a recession, you've got to add duration.