E190: $600 Billion Parametric CIO: Thomas Lee on Markets, Debt & Trust

In this episode of the How I Invest podcast, David Weisburd interviews Tom Lee, CIO and co-president of Parametric, a subsidiary of Morgan Stanley Investment Management with $600 billion in AUM. They discuss inflation, including CPI and PCE, and debate whether the government misrepresents inflation data. Tom explains Parametric's focus on bringing institutional investment tools to high-net-worth individuals through customized separately managed accounts (SMAs), direct indexing for tax loss harvesting, and hyper-customization of finance. He also addresses the rise of alternative investments and Parametric's potential role in incorporating them into model portfolios. Tom shares his views on efficient markets, the role of active investors, and the importance of resilience and clear communication in leadership.