Jonathan Treussard was interviewed by Chuck Jaffe on his show, Money Life with Chuck Jaffe.

They talked about:

→ The power of silence (aka emotional resilience) while markets scream and yell.

→ What uncertainty does to your psychology.

→ What actions you can take to prepare and react to higher volatility.

Episode contains valuable and actionable insights for high-net-worth households with sophisticated investment needs.

Jonathan Treussard of Treussard Capital Management is interviewed by John Coumarianos on his new show Capital Considered.

Jonathan and John talk about markets, valuations, bubbles, wealth management after a life in family offices, and incentives in the business of asset management.

Episode contains valuable and actionable insights for high-net-worth households with sophisticated investment needs.

Investing requires balancing caution with decisiveness. Our approach is informed by enduring principles that help transform uncertainty into informed opportunity.

While higher uncertainty can lead you to settle for less, structured risk management can empower you to make strategic decisions even when markets are unpredictable.

Read “It’s All (No) Fun and Games” and “Torpedoes Be Damned” now.

On average, kids are ready to talk about money about 10 years before the parents are.

That's 10 years of missed opportunities. Ten years of messing up when it's safe. Ten years of leaning hard into family values and meaning.

Ten years of talking about what's important to you, and how money is just part of the equation—often a small part of it.

2024 showed economic resilience with GDP growth and controlled inflation, but 2025 may bring volatility and uncertainty.

Decision-making under uncertainty involves preparing for various scenarios: very bad, average, and very good, to manage risks effectively.

This is not superstition, this is experience and understanding of how risk works. It tends to build under the surface and eventually breaks through the shell and into plain sight, not unlike magma pushing out and through the cap of a volcano.

There are few people I respect more than Jason Zweig. Jason is one of the most consistent and devoted advocates for the American investor in the land.

Jason quoted me near the end of a recent piece. This felt like a rare honor, even more so because the topic is fundamentally important to understanding incentives in asset management.

Incentives matter. They always have and always will…

I keep going back to two words in conversations: agency and governance. 

Agency is the ability to exert control over your own life. It’s critical and should be non-negotiable. Governance is next-level stuff. Governance is the operational leverage required run big things for the benefit of many.

Governance might well be the eighth wonder of the world. Let me tell you where this is coming from. 

As of last week, there are seven trillion dollars in money-market funds. Many of these dollars are parked in money-market funds because they seem like "a deal too good to pass up."

But remember: The market doesn’t make a habit of handing you free money. To make matters worse, when people face significant uncertainty, certainty goes for a premium, even if it’s just the illusion of safety. And uncertainty has been high for years and shows no signs of letting up.