Episode 27: Brian Stoffel on Antifragile Portfolios in a Chaotic World

Stoffel now weights valuation alongside moat strength in his antifragile framework, trimming credit-exposed and rate-sensitive names despite long-term conviction.

• 40% of S&P 500 in correction: Stoffel notes ~200 S&P 500 companies are over 20% off 52-week highs despite indices at all-time highs; Netflix is 44% off its high.
• Antifragile framework evolved: Stoffel's Taleb-inspired scoring (moat width/direction, optionality, cash, employee skin-in-game) now layers in a valuation adjuster (-3 to +3) after Shopify's 2021 75-80% drawdown taught him 'valuation matters.'

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