What Makes a Good Portfolio Manager? Robert Talevski Weighs In

What Makes a Good Portfolio Manager?

In the ever-evolving world of investment management, portfolio managers face immense pressure to deliver performance, adapt to shifting markets, and build trust with clients. But what truly separates a good portfolio manager from a great one?

With over two decades in the investment industry, Robert Talevski, Multi-Asset Portfolio Manager at Activam Group, has seen the difference firsthand. His experience spans across manager research, asset allocation strategy, and portfolio construction, giving him a panoramic view of what it takes to succeed.

In this article, Talevski shares his insights on the qualities that define high-performing portfolio managers in today’s competitive landscape.

1. Strong Investment Process

“A good portfolio manager doesn’t just chase ideas—they follow a disciplined, repeatable process,” says Talevski.

That process includes:

• Clear investment philosophy

• Robust research and idea generation framework

• Risk management protocols that go beyond volatility metrics

• A method for assessing what to buy, when to hold, and when to exit

In Robert’s view, it’s not about being right all the time. It’s about being consistent in approach and making decisions based on evidence rather than emotion.

“Markets are unpredictable. Your process is your anchor.”

2. The Ability to Balance Conviction and Humility

Confidence is essential in portfolio management. But overconfidence is dangerous.

Talevski emphasizes the value of intellectual humility. “The best managers are confident in their views, but they’re also open to being wrong—and quick to adapt when the data changes.”

He believes that good portfolio managers:

• Avoid confirmation bias

• Regularly stress-test assumptions

• Engage in collaborative debate with peers and analysts

• Are willing to exit positions that no longer make sense

3. Client-Centric Thinking

Performance matters, but understanding the client’s goals, constraints, and preferences is equally critical.

“A great portfolio manager isn’t just managing money—they’re managing outcomes,” Robert says. “They understand who they’re investing for, what matters to them, and how to deliver value beyond just returns.”

This includes:

• Aligning portfolio construction with risk tolerance and investment horizon

• Communicating clearly in both good times and bad

• Managing tax implications, liquidity needs, and sustainability preferences

4. Adaptability and Curiosity

Markets evolve, and so must portfolio managers. Talevski sees curiosity as a superpower in the investment world.

“Good managers are lifelong learners,” he explains. “They stay curious about new asset classes, macro trends, and emerging risks. They don’t get stuck in the past.”

Whether it’s integrating ESG factors, adjusting for inflation cycles, or exploring digital assets, Robert believes a good PM is always looking forward.

5. Emotional Discipline and Patience

“Portfolio management isn’t just intellectual—it’s emotional,” Robert notes. “You need to stay rational when markets are irrational.”

He points to the importance of:

• Avoiding knee-jerk reactions

• Maintaining perspective during volatility

• Trusting the long-term process, even when short-term results are frustrating

This emotional discipline, he says, is what allows good portfolio managers to stay the course and protect their clients from behavioral pitfalls.

6. Accountability and Integrity

Above all, Talevski believes that great portfolio managers are accountable—both to their decisions and to the people who trust them.

“They own their results, communicate honestly, and prioritize transparency,” he says. “That builds trust, which is the foundation of any long-term investment relationship.”

Final Thoughts

For Robert Talevski, being a good portfolio manager isn’t about making headlines—it’s about quietly, consistently delivering value to clients through process, discipline, adaptability, and integrity.

“In this industry, outcomes speak louder than words,” he concludes. “But behind those outcomes are the qualities that matter most: clarity of thought, emotional control, and a deep respect for the responsibility you carry as a steward of other people’s capital.”

📌 About Robert Talevski

Robert Talevski is a Multi-Asset Portfolio Manager at Activam Group, with over 20 years of experience in investment strategy, manager research, and portfolio construction. He brings deep expertise across asset classes and is committed to delivering thoughtful, evidence-based investment outcomes. Learn more at roberttalevski.com or follow his insights on LinkedIn.