CLS's The Weighing Machine

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Our calling as financial advisors is to help investors reach their financial goals. How do we do it? We keep them invested in balanced portfolios. On CLS Investments' “The Weighing Machine,” co-hosted by Robyn Murray and Rusty Vanneman, we cut through the market clamor and focus on time-tested, prov…

CLS Investments


    • Nov 29, 2022 LATEST EPISODE
    • weekly NEW EPISODES
    • 40m AVG DURATION
    • 233 EPISODES


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    Latest episodes from CLS's The Weighing Machine

    The Possibility of a Global Recession with Colleen Ambrose

    Play Episode Listen Later Nov 29, 2022 25:31


    Inflation has been rising steadily since the beginning of the year and is now at a level considered concerning by many economists. And while the Fed has been raising interest rates to keep inflation in check, it is becoming increasingly difficult. With inflation remaining stubbornly high, many believe a recession is becoming increasingly likely. What does this mean for the fixed-income market and the bond market? In this episode, Rusty and Robyn talk with Colleen Ambrose, Director of Fixed Income Markets at Capital Group. Colleen has 35 years of industry experience and has been with Capital Group for two years. Before joining Capital Group, Colleen was a portfolio manager at Bank of America. Before that, she was a fixed-income client portfolio manager at American Century Investments. Colleen holds the Chartered Financial Analyst® designation and is a member of the CFA Institute, the CFA Society of Chicago, and Women Investment Professionals.  Colleen talks with Rusty and Robyn about her outlook for fixed income, the bond market, and the headwinds in the economy, including inflation, Federal Reserve policy, and a potential recession. Key Takeaways [02:34] - Colleen's professional background and what she does at Capital Group. [04:29] - What Women Investment Professionals is all about. [05:27] - Colleen's advice to investors in light of global financial market events. [07:54] - Capital Group's outlook on inflation. [09:32] - Colleen's thoughts on the Federal Reserve's inflation policy. [10:24] - What Capital Group has to say about recession risk. [11:46] - The impact of geopolitical risks on the fixed-income market. [13:17] - How the fixed income bear market will end. [14:59] - Colleen's view on long-term interest rates. [15:46] - What Capital Group thinks about investment grade bonds, high yield bonds, emerging markets, and debt.  [17:21] - Why investors should consider fixed-income assets during market volatility. [19:30] - Colleen's personal investment strategy. [20:28] - How Colleen maintains her physical and mental health to perform at her best. [21:29] - The lessons Colleen learned from her mentors. [22:35] - Colleen's recommendation for content. Quotes [04:05] - "I love being that point person between our investment team and the end user clients to help them optimize what they're doing with their fixed income. Fixed income can be archaic and complex to understand. I like putting it in user-friendly terms to help people understand the messaging and move forward the right way." ~ Colleen Ambrose [10:39] - "We're not there yet. But 2023 is likely to see a recession, potentially a global recession. The U.S. will be slowing from the impact of Federal Reserve hikes and higher inflation. In terms of the employment landscape, we start to see layoffs in the economy that could impact things." ~ Colleen Ambrose [22:01] - "In the real world, you learn so much by doing. I equate learning about the bond market or financial markets to being plopped down in the middle of a foreign country, not knowing the language. And every day, you have to get up and learn the language." ~ Colleen Ambrose Links  Colleen Ambrose  Capital Group Walking On Sunshine Women Investment Professionals Bloomberg The Wall Street Journal The Economist Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2145-OPS-11/8/2022

    Tactical Investment Strategies with James St. Aubin and Kenneth Sleeper

    Play Episode Listen Later Nov 22, 2022 34:59


    In this episode, Rusty and Robyn talk with Kenneth Sleeper, Ocean Park Asset Management's Co-Founder, Co-Managing Director, and Portfolio Manager. Also joining them is James St. Aubin, Chief Investment Officer for Sierra Mutual Funds and Ocean Park Asset Management. Kenneth oversees all aspects of the organization's activities, including asset management, research, and client relationships. Before co-founding Sierra Investment Management, the parent company of the Sierra Mutual Funds and Ocean Park Asset Management, Kenneth applied his extensive background in statistical and computer applications to develop and refine computerized techniques for reducing downside risk. James, on the other hand, is an accomplished investment management executive. His experience in over 20 years in the industry includes asset allocation, manager research, and portfolio construction leadership roles. Kenneth and James talk with Rusty and Robyn about how they manage portfolios in today's market environment, what strategies they're implementing in their investments, and how they help investors stay calm, carry on, and stay on course during market downturns. Key Takeaways [03:41] - Why Ocean Park Asset Management was founded. [06:51] - An overview of James St. Aubin's career in wealth management. [08:30] - The factors influencing the market's movement. [12:32] - How Ocean Park Asset Management manages portfolios in the current market environment. [14:09] - How Ocean Park Asset Management helps investors stay calm and carry on in the face of market negativity. [17:18] - How James and Ken manage client expectations. [21:19] - What James and Ken say about geopolitical turbulence. [23:39] - How Ocean Park Asset Management uses tactical analysis in its investment process. [26:05] - How James keeps his mental and physical health to perform at his best. [29:05] - The people Ken and James are grateful for professionally. [32:13] - James and Ken's recommendations for content. Quotes [10:02] - "2022 has been about dealing with the consequences of the policy mistake, a double whammy of rate hikes and QT (Quantitative Tightening) at a pace and up to a level not easily digested by financial markets. Think about it as a shock and awe in the opposite direction, but this time it's intended to beat inflation." ~ James St. Aubin [13:41] - "We can't predict what the future holds, but we have a lot of history showing that this will eventually work itself out. It's just patience that's required right now. And that goes to the heart of investor education for all professionals that manage money." ~ Kenneth Sleeper [20:05] - "The number one value add for advisors is keeping them from capitulation in times of stress. This, too, shall pass is a perfect phrase for both up and down markets, honestly not to get people too greedy or fearful that we have to stay the course. The key ingredient to success is ensuring that this environment does not knock them off their path." ~ James St. Aubin   Links  Kenneth Sleeper James St. Aubin Ocean Park Asset Management I Won't Back Down by Tom Petty Stranglehold by Ted Nugent Skip Schweiss Ryan Harder Investment Advisory | HighMark Capital Management Why We Sleep: Unlocking the Power of Sleep and Dreams by Matthew Walker Victor Zhang Wilshire American Century Investments Michael Covel's Trend Following Jim Bianco Barron's The Wall Street Journal Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts   2142-OPS-11/8/2022

    Fixed Income Asset Allocation with Samuel Lau

    Play Episode Listen Later Nov 15, 2022 54:20


    Throughout history, there have been different schools of thought regarding investing. Some investors believe in taking on more risk to achieve higher returns, while others prefer preserving capital and generating stability. In this current economic climate, however, many investors are worried about the stock and bond markets and how they will affect their investments.  In this episode, Rusty and Robyn talk with Samuel Lau. Samuel is a Portfolio Manager on DoubleLine's strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show and the Monday Morning Minutes podcasts. A fixed-income asset allocation strategist, Samuel talks with Rusty and Robyn about the fixed-income market, the headwinds facing the bond market, and the inflation and Federal Reserve policy. Key Takeaways [03:43] - Among the many roles Samuel plays at DoubleLine. [07:48] - What Samuel has learned from podcasting. [09:03] - One of Samuel's favorite episodes. [11:00] - What Samuel thinks about the stock market and bonds. [12:59] - DoubleLine's view on inflation. [16:21] - What DoubleLine thinks about the Federal Reserve policy. [19:28] - A possibility of an economic recession. [23:55] - How Samuel considers geopolitical risk when building portfolios. [27:29] - Samuel's outlook for interest rates. [31:05] - An overview of investment-grade corporate bonds. [35:56] - Samuel's perspective on emerging market debt. [37:12] - Diversifying portfolios with real assets and low volatility assets. [40:23] - Samuel's forecast for the stock market. [42:47] - Why investors should consider fixed-income investments. [44:47] - Samuel's personal investment strategy. [45:48] - How Samuel maintains his mental and physical health to perform at his peak. [48:02] - The people Samuel is grateful for on a professional level. [49:48] - Samuel's recommendations for content. Quotes [12:06] - "On the bond side of things, it's very painful. It's the worst year-to-day performance in the U.S. bond market on record going back to the index's inception. But investors have their heads wrapped around the rationale behind it." ~ Samuel Lau [17:48] - "We all fear the risk of the Fed and the FOMC over-tightening through their rate hikes and sending the economy into a hard landing, which people would refer to as a policy mistake." ~ Samuel Lau [38:32] - "When you look at the positive performers, commodities are one of the two asset classes that have that plus sign in front of it on a year-to-date basis. The other asset class is the U.S. dollar." ~ Samuel Lau   Links  DoubleLine Rock and Roll by Led Zeppelin Jeffrey Gundlach The Sherman Show Jeffrey Sherman Monday Morning Minutes Robert Shiller Mary Daly Federal Reserve of San Francisco Nick Timaraos The Wall Street Journal National Bureau of Economic Research Grant's Interest Rate Observer DoubleLine Capital on YouTube Channel 11 PS Perspective Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2077-OPS-11/1/2022

    Bringing Hedge Fund Portfolio Solutions to Investors with Andrew Beer

    Play Episode Listen Later Nov 8, 2022 40:23


    The last few years have been a rollercoaster for investors. The market has been volatile, asset values have declined, and there is general uncertainty about the future. In times like these, it's important to have a diversified portfolio that can weather the storm. Hedge funds offer a unique opportunity for investors to hedge against risk and protect their portfolios. In this episode, Rusty and Robyn talk with Andrew Beer, Managing Member at Dynamic Beta investments. Andrew started in the hedge fund industry in 1994 when he joined the Baupost Group as one of six generalist portfolio managers. Over the past decade, Andrew's singular focus has been to identify strategies to match or outperform portfolios of leading hedge funds with low fees, daily liquidity, and less downside risk. A pioneer in hedge fund replication, Andrew talks with Rusty and Robyn about hedge funds, hedge fund strategies that investors find helpful, and how hedge funds are becoming a new fixed-income substitute. Key Takeaways [03:06] - What motivated Andrew to specialize in hedge funds. [07:24] - The role of Dynamic Beta investments in the hedge fund industry. [08:53] - Andrew's thoughts on what's currently driving the markets. [10:44] - The outlook for traditional stock and bond markets.  [11:58] - How investors can improve the risk-adjusted return potential of a traditional balanced portfolio. [14:12] - An in-depth look at hedge funds. [15:36] - What replication means at Dynamic Beta investments. [17:29] - Hedge fund strategies that investors find helpful. [20:01] - What investors should look for when investing in managed futures. [22:11] - How hedge funds are becoming a new fixed-income substitute. [25:09] - Typical allocations to hedge fund strategies and managed futures. [29:43] - How Andrew invests personally. [31:34] - How Andrew keeps his physical and mental well-being to perform at his best. [32:49] - People Andrew is thankful for on a professional level. [35:41] - Andrew's recommendations for content. Quotes [12:19] - "What's the best diversifier on planet earth, where we want to put our money if we can? The answer for us is managed futures." ~ Andrew Beer [13:20] - "Stocks and bonds are incredible investments over time. But stocks, bonds, and managed futures are the right diversified portfolio." ~ Andrew Beer [27:43] - "The vast majority of products created in the ETF world are single-manager products, and single-manager products on a standalone basis don't have a role in the asset allocation model." ~ Andrew Beer Links  Andrew Beer on LinkedIn Andrew Beer on Twitter Dynamic Beta investments Tomorrow  Kristof Gleich Harbor Capital The Baupost Group Kathryn Kaminski AlphaSimplex Group Abbey Capital Stanley Druckenmiller Corey Stein Flirting with Models Brian Portnoy The Rational Optimist Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2004-OPS-10/25/2022

    Growth and Investment Opportunities in Infrastructure with Ken Baumgartner

    Play Episode Listen Later Nov 1, 2022 30:16


    Uncertainty and volatility are increasingly the new normal in today's investment markets. This has led many investors to seek out new asset classes that are not only stable and generate attractive returns but are also backed by structural growth trends. One asset class that meets these criteria is infrastructure.  In this episode, Rusty and Robyn talk with Ken Baumgartner, Investment Director at Wellington Management. In his role, Ken provides business management and strategic oversight for asset allocation, inflation hedging solutions, and strategic solutions for multi-manager platforms. He works closely with portfolio managers to evaluate and communicate portfolio characteristics, performance, and market outlook to external constituents.  Known for his expertise in inflation hedging, Ken talks with Rusty and Robyn about infrastructure as an asset class, the biggest themes in the infrastructure market today, and how infrastructure can help hedge inflation. Key Takeaways [02:45] - How Ken got into financial services. [04:49] - What makes Wellington Management unique. [06:47] - How infrastructure can help hedge inflation. [08:46] - Infrastructure as an asset class. [11:34] - What makes public infrastructure different from private infrastructure. [13:38] - The biggest themes in the infrastructure space today. [15:41] - Why electric utilities may be key to the energy transition. [17:34] - Risks associated with lower volatility asset classes. [19:13] - What impact has the boom in commodities had on Wellington's outlook on energy? [23:21] - The impact of midterm elections on infrastructure. [24:27] - How Ken maintains his mental and physical well-being to perform at a high level. [25:54] - Ken's content recommendation. Quotes [07:55] - "Compared to potentially other higher beta volatile asset classes, such as natural resource equities or commodities, the performance of the infrastructure profile will be much more stable." ~ Ken Baumgartner [13:47] - "One of the biggest themes across global markets is the idea of decarbonization. Here you have a multi-decade secular growth in both the transmission and the renewable space. And the best way to invest is through the regulated utilities that own the wires and the transmission and are also investing in renewables to bring their power production footprint." ~ Ken Baumgartner [16:45] - "Carbon should not necessarily be thought of as dirty. People are too quick to cast aside some of these companies that today might still have some carbon in their power production stack but are doing more for the world to decarbonize than any of the cleanest and greenest." ~ Ken Baumgartner Links  Ken Baumgartner on LinkedIn Wellington Management Mr. Brightside by The Killers Everlong by Foo Fighters T.N.T. by AC/DC Goldman Sachs New York Islanders Harvard Business School John Hancock Investment Management Podcasts - Freakonomics WellSaid - The Wellington Management Podcast  The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2003-OPS-10/25/2022

    Enhancing Top Client Retention with Brett Van Bortel

    Play Episode Listen Later Oct 25, 2022 40:11


    There is nothing more frustrating for an advisor than losing a client. It's even more difficult when high-net-worth clients leave. High-net-worth clients are an important segment for any financial advisor. Not only do they bring in more revenue, but they also refer other high-net-worth individuals to the firm. What can advisors do to ensure they don't lose their best clients? In this episode, Rusty and Robyn talk with Brett Van Bortel, Director of Consulting Services at Invesco Consulting. Brett has developed and delivered numerous consulting programs to increase financial professionals' profitability, effectiveness, and productivity. At Invesco Consulting, Brett develops and delivers business development models to assist advisors in distributing investment management products. As a consultant, Brett talks with Rusty and Robyn about some tips and tricks for maintaining client relationships, why high-net-worth clients leave their advisors, and what advisors can do to prevent losing top clients. Key Takeaways [02:42] - What led Brett to a career in consulting services. [03:48] - The key role Brett plays at Invesco. [04:58] - How The Golden Hour program got its name. [06:37] - How The Golden Hour applies to business and practice. [07:33] - Why Invesco conducts its own research. [10:55] - Why high-net-worth clients leave their advisors. [14:22] - How Brett solves the problem of clients leaving their advisors. [16:51] - What advisors can do to avoid losing top clients. [19:05] - How much communication is needed to protect client relationships. [22:12] - The findings of a dial session study on advisor-client communication.  [24:14] - A proactive communication strategy to build stronger client relationships. [28:16] - How advisors can implement relationship equity conversations. [33:29] - Brett's personal investment strategy. [34:27] - How Brett keeps his mental and physical health to perform at his best. [36:03] - The book Brett recommends reading. Quotes [05:31] - "What we saw in our research was a ticking time bomb inside the majority of advisors' practices. A significant number of top clients began to look for the exit sign from an advisor's practice." ~ Brett Van Bortel [06:45] - "Getting high-net-worth clients, typically the top clients for any advisor, is one of the greatest challenges. And there are a lot of programs out there on new client acquisition, but no one was looking at the other side of the coin of new client acquisition, which is top client retention. They're on a treadmill running fast but not getting anywhere." ~ Brett Van Bortel [11:21] - "The vast majority of top clients weren't leaving because of performance. They were leaving because of something to do with a breakdown in the relationship and communication with their advisor." ~ Brett Van Bortel Links  Brett Van Bortel on LinkedIn Invesco Enter Sandman by Metallica Michael Maslansky Priceless Program Overview | Invesco US Giftology: The Art and Science of Using Gift to Cut Through the Noise, Increase Referrals, and Strengthen Retention Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1930-OPS-10/13/2022

    The Current State of Inflation, Bond Markets, and Growth Stocks with Glenn Dorsey

    Play Episode Listen Later Oct 18, 2022 28:27


    Recent months have been nothing short of a rollercoaster ride for the markets. We have seen a lot of ups and downs, and it doesn't seem like the volatility will subside anytime soon. As an advisor, it's important to have a game plan for when the market is going through a rough patch.  In this episode, Rusty and Robyn talk with Glenn Dorsey, Senior Vice President and Head of Client Portfolio Management at Clark Capital Management Group. In this role, Glenn directs Clark Capital's Client Portfolio Team and leads the firm's efforts to deliver a highly personalized, collaborative portfolio construction process to advisors. He is responsible for portfolio construction and the clear communication of investment strategy to advisors and their clients.  Back by popular demand, Glenn talks with Rusty and Robyn about what's happening with the bond market, growth stocks, and inflation. Glenn shares Clark Capital's tactical strategies for navigating a seasonally sloppy market, the impact of a strong dollar on international stocks, and how the firm manages portfolios based on market activity. Key Takeaways [03:38] - Glenn's career history and role at Clark Capital Management Group. [05:21] - Are bonds still worth owning despite the downturn in the bond market? [07:30] - How to protect ourselves from inflation. [09:05] - Will there be a recession? [11:42] - Clark Capital's strategies for navigating a seasonally sloppy market. [14:32] - Glenn's outlook for growth stocks. [16:08] - The impact of a strong dollar on international stocks. [18:46] - How Clark Capital manages portfolios based on market activity. [21:03] - Glenn's personal investment strategy. [23:30] - How Glenn stays in top physical and mental shape to perform well. Quotes [08:15] - "We always say the best cure for high prices is high prices because that leads to two things. You're going to have an increase in supply, the manufacturers of those goods that sell things higher are going to find a way to produce more, and you're going to have demand destruction. People start to use less of those things. And the result of that is prices come down." ~ Glenn Dorsey [17:53] - "We're in a transition where different parts of the world react differently to this inflationary spiral. Keep in mind that a strong dollar is inflationary for most other countries. If the dollar is getting more expensive, that's creating inflation elsewhere." ~ Glenn Dorsey [21:50] - "If you don't need distributions from your account, don't take them right now. This is a good time to put it in the market if you have extra money." ~ Glenn Dorsey Links  Glenn Dorsey on LinkedIn Clark Capital Management Group You've Got a Friend by James Taylor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts Disclosure The views expressed are those of the speaker and do not necessarily reflect the views of Clark Capital. Investors must make their own decisions based on their specific investment objectives and financial circumstances. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. Before investing, an investor should consider their investment goals and risk comfort levels and consult with their investment advisor and tax professional.   1918-OPS-10/12/2022

    A Tax-Advantaged Way to Save for Education with Paul Curley

    Play Episode Listen Later Oct 11, 2022 30:28


    Tuition inflation is not a new issue for college. Tuition fees and other related expenses tend to increase every year. As a result, many parents are looking for ways to start saving for their children's education early on. There are several alternatives for saving and paying for education. In this episode, Rusty and Robyn talk with Paul Curley, Director of Savings Research at ISS Market Intelligence. In his role, Paul oversees 529 and ABLE market data, research, events, and digital products and services for institutional clients, including the 529 Conference. Also, an Editor-in-Chief of the 529 Dash e-newsletter and the 529 Insiders website for financial advisers, institutions, and the media, Paul presents educational seminars and conferences to financial industry experts on 529 plans and ABLE accounts. Paul talks to Rusty and Robyn about investing in children's education through 529 plans. Paul speaks about why financial advisors should discuss 529s with their clients, the pros and cons of 529 plans, and the advisor's role in helping clients invest in 529 plans. Key Takeaways [03:54] - An overview of Paul's responsibilities at ISS Market Intelligence. [06:07] - How ISS Market Intelligence serves its clients. [07:06] - Trends in student loan debt. [12:22] - Why financial advisors should discuss 529s with their clients. [13:40] - What investors and advisors should look for in a 529 plan. [15:01] - The pros and cons of 529 plans. [16:43] - What the whole 529 landscape looks like. [18:19] - The growth rate of the 529 savings plan. [20:05] - Demographics of 529's primary consumers. [21:20] - Some of the biggest concerns about saving money for college. [23:14] - How to encourage more investors to contribute to 529 plans. [24:54] - Paul's personal investment strategy. [26:21] - How Paul maintains his mental and physical health to perform at his best. [27:25] - Paul's book and content recommendations. Quotes [11:29] - "A 529 plan is a nice tax advantage vehicle to help families save efficiently for education." ~ Paul Curley [16:22] - "There are several alternatives for saving and paying for an education. But 529 provides the most flexibility and provides a market return, which does benefit compared to a bank account." ~ Paul Curley [23:28] - "Although parents or grandparents want their kids or grandkids to go to college to get a full education, whether an apprenticeship, grad school, or whatever it may be, no one has a fully created game plan from a saving and paying perspective." ~ Paul Curley Links  Paul Curley on LinkedIn ISS Market Intelligence The Chain by Fleetwood Mac The Automatic Millionaire by David Bach Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1626-OPS-9/7/2022

    Dividend-Focused Investment Strategies with John Crawford and David Gilmore

    Play Episode Listen Later Oct 4, 2022 28:19


    Income generation is one of the primary concerns of investors today. This is especially true in light of recent market volatility. With investors always looking for new opportunities, how can dividend-focused portfolios and high-quality securities be among the best investing options, especially in today's low-yield environment? In this episode, Rusty and Robyn talk with John H. Crawford, Managing Director of Equity Investments, and David Gilmore, Senior Equity Analyst at Crawford Investment Counsel. Having been with the firm since 1990, John works closely with equity research analysts on stock selection and portfolio policy for all equity strategies. David is responsible for equity research in the consumer and utilities sectors and serves as a voting member of the Equity Investment Team. John and David talk about how dividends, yields, and income play into Crawford's investment philosophy, the relationship between stocks with higher dividends and risk, and what makes Crawford unique among dividend-focused asset managers. Key Takeaways [04:07] - An overview of John Crawford's professional career. [06:33] - David's career background and role at Crawford Investment Counsel. [08:14] - How dividends, yields, and income play into Crawford's investment philosophy. [10:31] - How Crawford's strategy performed both in the short and long run. [12:41] - What Crawford Investment Counsel's self-discipline looks like. [14:19] - The relationship between stocks with higher dividends and risk. [18:39] - What makes Crawford unique among dividend-focused asset managers. [20:03] - John's personal investment strategy. [21:17] - How John and David maintain their well-being to perform at their best. [23:16] - John and David's recommendations for content. Quotes [16:27] - "When you focus on companies with dividend integrity, the income helps in periods of market stress. The higher quality businesses, the strong balance sheets, the high returns, and the predictable and consistent earnings all serve as a flight-to-quality when there are periods of market stress." ~ John Crawford [16:50] - "Dividend integrity manifests in what we call the dividend effect, which is a less volatile, higher income, and very attractive total investment return." ~ John Crawford [19:08] - "Dividends and quality are joined at the hip. But most people don't think about it that way. That's one of the things that makes us unique." ~ John Crawford Links  John Crawford David Gilmore on LinkedIn Crawford Investment Counsel Fooled by Randomness by Nassim Nicholas Taleb The Black Swan by Nassim Nicholas Taleb Investment Policy by Charles Ellis Intelligent Investor by Benjamin Graham Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1623-OPS-9/7/2022

    Taking Financial Services to New Heights with Billy Oliverio

    Play Episode Listen Later Sep 27, 2022 42:41


    In recent years, new technologies, economic changes, and shifting consumer behavior have fundamentally changed how financial services are delivered. That has led to financial services firms rethinking their business models and strategies.  In this episode, Rusty and Robyn talk with Billy Oliverio, Executive Vice President and Chief Marketing Officer at United Planners Financial Services. Having been in the industry for 30 years, Billy has worked in various executive capacities in small, medium, and large-sized firms to tackle complex projects and initiatives. He has also served time in the regulatory environment as the Chief Investigator of Enforcement for the AZ Securities Division and has orchestrated all aspects of white-collar crime investigations. At United Planners, his responsibilities include but are not limited to the firm's vision, strategy & business planning. Billy talks with Rusty and Robyn about his outlook on the industry's current and future trends, what United Planners Financial Services has to offer clients, and how the financial services industry can improve in the future. Key Takeaways [04:27] - An overview of Billy's professional career. [05:53] - Billy's investigative experience. [09:48] - What United Planners Financial Services has to offer. [12:25] - Billy's role at United Planners Financial Services. [15:33] - What the future holds for United Planners. [18:20] - Billy's outlook on the industry's current and future trends. [21:47] - How the financial services industry can improve in the future. [24:49] - The qualities of a good financial advisor and wealth manager. [25:59] - Billy's personal investment strategy. [31:15] - The lessons Billy learned from his mentors. [32:53] - What Billy wants to do next. [34:48] - How Billy keeps his physical and mental well-being to perform at his best. Quotes [15:08] - "Advisors are tired of being bought and sold like a commodity or a widget, which is extremely disruptive to their practices as independent business owners. And it's certainly not fair to the investors, who may get impacted by proprietary platforms, changes, fees, and costs." ~ Billy Oliverio [20:15] - "Advisors need to spend more time on client components, such as prospecting and onboarding, engagement, and overall client experience, which is directly tied to revenue-generating activities rather than the operational components that are more non-revenue generating." ~ Billy Oliverio [22:32] - "We, as an industry, should do better with our regulatory landscape. My position is to centralize and unify regulations regardless if you earn a commission or a fee. Reg BI (Regulation Best Interest) is a step to drive best practices of doing what's in the investor's best interest as a common theme, regardless if you are a broker or an advisor." ~ Billy Oliverio Links  Billy Oliverio on LinkedIn United Planners Financial Services Lovely Day by Bill Withers Arizona State University Advisor Group Charles Schwab Dan Rather National White Collar Crime Center Sheila Cuffari-Agasi Jim Cannon Dynamic Advisor Solutions Bridget Gaughan cleverDome Michael Baker Excellent Adventures Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts   1620-OPS-9/7/2022

    Trends and Innovations in Wealth Management with Lori Hardwick

    Play Episode Listen Later Sep 20, 2022 37:34


    In recent years, the wealth management industry has undergone many changes. The industry is ripe for disruption, and many companies are already beginning to offer new and innovative solutions.  In this episode, Rusty and Robyn talk with the “swiss army knife” of financial services leadership, Lori Hardwick. Lori is the CEO of Wealth Tech at Red Rock Strategic Partners. She brings over 25 years of experience working in the financial industry as a prominent voice and is known for her passion for continuous improvement in the financial advisory industry. In her role, Lori works directly with C-suite executives at some of the largest financial services companies. She helps them create and execute winning growth strategies and improve the overall experiences for advisors and their clients. Lori talks with Rusty and Robyn about trending topics in the financial services industry. Among these are how wealth management has evolved over the years, the challenges financial advisory services face today, and how to increase women's participation in the financial services industry. Key Takeaways [03:37] - How Lori became involved in many financial services companies. [07:02] - Lori's most remarkable achievements. [08:53] - What excites Lori about the financial services industry? [13:50] - How wealth management has evolved over the years. [16:45] - Identifying and addressing challenges in financial advisory. [18:21] - What broker-dealers look for in wealthtech providers. [21:38] - How to increase women's participation in the financial services industry. [27:51] - The qualities that make a good financial advisor or wealth manager. [30:14] - Lori's personal investment strategy. [32:28] - How Lori motivates people to do their best. [33:36] - Lori's recommendations for content. [35:27] - What Lori does for fun. Quotes [14:18] - "The historic bold lines that used to be drawn between wirehouses, banks, independent broker-dealers, and RIAs are starting to blend. And watching these firms morph into new services and solutions makes it easier for advisors and their clients to have a better experience." ~ Lori Hardwick [15:41] - "If you can build efficiencies and the power to help advisors to empower their end clients with more information, that will win the day. That is, having that transparent view across the board and having at least one place where you can see everything in one area and track where you are against your financial plan every day." ~ Lori Hardwick [27:34] - "If the advisors can relate to their clients about their relationship with money, that is the core to having that great trusting relationship. Advisors don't have to change their client's views on money. They need to understand it." ~ Lori Hardwick Links  Lori Hardwick on LinkedIn Red Rock Strategic Partners Orion Advisor Solutions Thunder by Imagine Dragons Riskalyze Nuveen Investments Envestnet Pershing Genstar Capital Cetera Financial Group Vestwell Brinker Capital BasisCode Hidden Levers Redtail Technology TownSquare Capital Snappy Kraken Daniel Crosby Korn Ferry Gavin Spitzner Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1539-OPS-8/24/2022

    Industry Trends, ETFs, and Model Portfolios with Michael Gates

    Play Episode Listen Later Sep 13, 2022 32:48


    Diversification is vital to any investment portfolio. Exchange-Traded Funds (ETFs) have become one of the most popular vehicles for implementing a multi-asset strategy, as they offer broad diversification, low costs, and flexibility. As the industry trends continue to evolve, how can investors position themselves to capture potential upside in different market environments? In this episode, Rusty and Robyn talk with Michael Gates, Managing Director and Head of Model Portfolio Solutions in the Americas at BlackRock. In his role, Michael leads BlackRock's suite of Target Allocation and Target Income models and mutual funds. Morningstar has awarded the Target Allocation ETF and Long Horizon ETF models that Michael manages a gold medal. Michael talks with Rusty and Robyn about the ETF industry and model portfolios. Michael also shares his outlook for the overall ETF industry, why investors prefer ETFs to direct index solutions, and what Blackrock's multi-asset investment strategy entails. Key Takeaways [02:48] - How Michael got into financial services. [05:00] - How BlackRock has evolved over the years. [07:18] - Michael's outlook for the overall ETF industry. [09:30] - Why investors prefer ETFs to direct index solutions. [10:17] - The driving force behind the flow of mutual funds into ETFs. [11:26] - Michael's multi-asset strategy. [16:49] - Michael's rule of thumb when investing in alternatives and real assets. [18:34] - The tools BlackRock provides to advisors. [21:17] - Michael's thoughts on the possibility of a recession and how it might impact BlackRock's model portfolios. [25:44] - Michael's personal investment strategy. [27:44] - How Michael keeps his physical and mental health to perform well. [30:05] - Book and content recommendations from Michael. Quotes [08:11] - "ETFs are a big part of what financial advisors want to use because ETFs are reliable in terms of what they deliver, and they're low fees relative to legacy mutual funds." ~ Michael Gates [10:09] - "The ability to take and deliver in kind is something that you can only do with an ETF structure. It's not something you can do with the direct index." ~ Michael Gates [10:31] - "The trend that flows from mutual funds into ETFs is partly driven by the transition that we've observed of the brokers becoming advisors." ~ Michael Gates Links  Michael Gates on LinkedIn BlackRock Taking Me Back by Jack White SteeleGates Rain, Steam and Speed by William Turner Larry Fink iShares Aperio Group BlackRock Aladdin Andrew Huberman Steve Jobs by Walter Isaacson Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

    Investing in Small-Cap Value Stocks with Michael Petro

    Play Episode Listen Later Sep 6, 2022 25:09


    The stock market is often seen as a place for high-risk, high-reward investments. But for those willing to do their research and take a more patient approach, there can be great rewards in investing in small-cap value stocks. Small-cap investing focuses on companies that have smaller market caps than most stocks. They tend to be more volatile but offer greater potential rewards. In this episode, Rusty talks with Michael Petro, Portfolio Manager at Putnam Investments. Michael has been in the investment industry since 1999 and joined Putnam Investments in 2002. In his role, Michael is responsible for the overall strategy and positioning of Putnam's small-cap value products.  Michael talks with Rusty about investing in small-cap value stocks, how these stocks perform in different market environments, and how inflation impacts this fund. Key Takeaways [01:49] - How Michael entered the world of investing. [08:20] - Michael's investment philosophy and strategy mandate at Putnam. [10:59] - How small-cap value stocks perform in different market environments. [12:48] - What Michael thinks about the economy and the market. [16:02] - How inflation impacts small-cap value stocks. [19:22] - How Michael invests his own money. [21:14] - How Michael maintains his physical and mental health to perform at his best. Quotes [03:10] - "I learned a lot about business at a young age, and I'd like to bring some of that knowledge and experience with me to my investing." - Michael Petro [11:50] - "Small-cap value stocks do well in the broad middle of the cycle in normal times when the economy is growing because there's a lot of opportunity in small-cap value stocks." - Michael Petro [13:11] - "The strength of the consumer balance sheet keeps us out of recession." - Michael Petro Links  Michael Petro on LinkedIn Putnam Investments Life's Been Good by Joe Walsh Massachusetts Institute of Technology University of Michigan Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1496-OPS-8/18/2022

    A Gold-Based Investment Strategy with Maxwell Gold

    Play Episode Listen Later Aug 30, 2022 29:36


    There are many different schools of thought when it comes to investment strategies. Some people invest based on stocks, others on cryptocurrency. And then some invest in gold. Gold has been used as a form of currency and investment for centuries, and it's still a popular choice today. How can investors own gold and include it in their portfolios? In this episode, Rusty and Robyn talk with Maxwell Gold, Head of Gold Strategy at State Street Global Advisors. Before joining SSGA in July 2019, Maxwell served as the Director of Investment Strategy at Aberdeen Standard Investments, heading macroeconomic and commodity thought leadership for its $3B U.S. ETF business. Today, Maxwell talks about the gold-based investment strategy, how gold can be used in an investment portfolio, and the risks and rewards associated with such an investment. Key Takeaways [03:36] -  What drew Maxwell to specialize in gold investments. [04:51] - Maxwell's outlook for the gold market for the rest of the year. [06:53] - Should gold be considered for a permanent strategic allocation and investment portfolio? [09:54] - How gold diversifies market risks. [14:00] - How investors can own gold. [17:29] - Comparing silver and gold investments. [21:44] - Maxwell's view on digital gold, such as Bitcoin and cryptocurrencies. [25:55] - How Maxwell keeps his physical and mental health to perform at his best. Quotes [07:22] - "Gold is a unique asset class. It has a low negative correlation to stocks, bonds, and other alternative assets over time." - Maxwell Gold [11:47] - "When you look at gold and evaluate it as an asset class, it's unique and very distinct. It's hard to replicate the exact factors or risk exposure it provides compared to any other asset class out there." - Maxwell Gold [12:55] - "The real power and benefit of gold ‘inflation hedge' comes from monetary inflation and gold's ability to serve not as an inflation hedge per se but much more as a store value asset and ability to preserve spending power, particularly over the long run over several years, if not longer." - Maxwell Gold   Links  Maxwell Gold on LinkedIn State Street SPDR ETFs Gold on the Ceiling by The Black Keys Merrill Lynch JP Morgan Money For Nothing by Thomas Levenson Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1357-OPS-8/1/2022

    Why Advisors Need CRM with Kate Guillen

    Play Episode Listen Later Aug 23, 2022 28:09


    To maintain a successful business, advisors need to have a system to manage client relationships. That is where a CRM or Customer Relationship Management system comes in. CRM provides a centralized place for advisors to store and track customer data, automate tasks, manage interaction, and cultivate relationships. In addition, CRM provides valuable insights that advisors can use to improve their business operations. In today's episode, Rusty and Robyn talk with Kate Guillen, Founder and Lead Trainer at Simplicity Operations Management. Kate has been working in the financial services industry since 2014 in a client service and operations capacity. In 2017, Kate joined an RIA as the Operations Manager. To streamline the firm's operational procedures, Kate utilized their Redtail CRM to standardize the team's systems for managing daily tasks, their calendar, the sales pipeline, and a proactive client service schedule. Kate talks with Rusty and Robyn about the world of CRMs (Customer Relationship Management) and how advisors can use these systems to get organized, stay on track, and build their businesses. Key Takeaways [02:48] - How Kate used Redtail CRM to manage her business. [05:46] - Kate's thoughts on Orion Advisor Solutions' acquisition of Redtail. [06:54] - What is CRM? [09:12] - CRM's role in advisors' day-to-day operations. [11:04] - The value of using CRM as a centralized hub. [12:33] - How CRM can be used to manage sales pipelines. [15:47] - How CRM can help advisors manage the inflow and stay organized. [18:09] - The benefits of automating tasks for advisors. [19:54] - How CRM automation feature helps advisors take time off. [21:04] - What tech stacks are and how they relate to CRM. [23:41] - How Kate maintains her mental and physical health to perform well. Quotes [08:29] - "Your CRM should be the hub of your practice and a one-stop shop to see everything going on for your clients, tasks, activities, new revenue opportunities, and accounts." - Kate Guillen [17:52] - "Workflows are a fabulous way of not having to reinvent the wheel every single time you go to do whatever the repeatable process is." - Kate Guillen [18:35] - "As a business owner, you want to know that your clients are being served by your team as well as you would serve them. And so, creating workflows, processes, and procedures that standardize how you handle whatever the request ensures that. It's repeatable and nobody has to recreate a process." - Kate Guillen Links  Kate Guillen on LinkedIn Simplicity Operations Management Don't Stop Me Now by Queen Redtail Technology Brian Towner Ben McKenzie Hayley Mandrup Calendly Zapier Pulse360 Hubly The Game with Alex Hormozi Financial Advisor Success Podcast The Advisor Lab Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1265-OPS-7/19/2022

    A Goals-Based Approach to Retirement Spending with Colleen Jaconetti

    Play Episode Listen Later Aug 16, 2022 20:42


    As people live longer and market uncertainty increases, the need for informed retirement portfolio spending strategies is becoming more important than ever.  In this episode, Rusty and Robyn talk with Colleen Jaconetti, a Senior Investment Analyst at Vanguard Investment Strategy Group. Colleen is responsible for establishing and overseeing the investment philosophy, methodology, and portfolio construction strategies used to support Vanguard's advisory services, products, and strategies. With over 25 years of experience in the financial services industry, her areas of expertise include portfolio construction and financial planning, specializing in retirement planning topics, retirement income solutions, and wealth management strategies. Colleen talks with Rusty and Robyn about Vanguard's research paper, From Assets to Income: A Goals-Based Approach to Retirement Spending. Colleen speaks about interesting topics around the goals-based retirement approach, the four factors that affect people's ability to spend funds from their portfolios, and how investors should consider taxes when planning to withdraw funds. Key Takeaways [02:41] - Colleen's role at Vanguard. [04:21] - Why investors should read Vanguard's paper, From Assets to Income: A Goals-Based Approach to Retirement Spending. [05:22] - How a goals-based retirement approach outperforms a traditional retirement spending strategy. [06:22] - Four factors affecting people's ability to spend their portfolios. [10:16] - Risks associated with income-focused investing. [12:43] - How investors should consider taxes when planning to withdraw funds. [15:41] - Colleen's personal investment strategy. [17:00] - How Colleen maintains her mental and physical well-being to perform at her best. [17:53] - A list of Colleen's favorite books. Quotes [05:02] - "It's important for retirees now, especially with the dynamic spending that as there's market volatility, some retirees may be tempted to reach for yield. In addition, some retirees are asking, can I afford to retire? How much can I spend in light of some of the recent performances in the market?" - Colleen Jaconetti [06:46] - "When developing a prudent spending rule, the goal for many retirees is to bounce current spending with the potential for future spending, bequest, or other goals." - Colleen Jaconetti [12:01] - "We try to tell retirees that overweighing dividend-paying stocks are high-yield bonds. For the sole purpose of increasing cash on the portfolio, the income approach can put their principle at higher risk than just spending from it." - Colleen Jaconetti Links  Colleen Jaconetti on LinkedIn Vanguard Chicken Fried by Zac Brown Band From assets to income: A goals-based approach to retirement spending Be Where Your Feet Are: Seven Principles to Keep You Present, Grounded, and Thriving All Insights | Insights | Vanguard Advisor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1268-OPS-7/19/2022

    A Value-Based Strategy to Generating Attractive Returns with Thomas Forsha

    Play Episode Listen Later Aug 9, 2022 36:50


    Investing is so much more than just numbers and trends. It's about psychology and temperament. While risk management and market volatility both play an important role in investor success, the investor's overall attitude towards investing is just as important. Though financial advisors are highly regarded for their investment recommendations, what are the best ways for investors to remain invested during uncertain economic times? In this episode, Rusty and Robyn are joined by Thomas Forsha, Co-Chief Investment Officer and Portfolio Manager for River Road Asset Management's Dividend All-Cap Value and Focused Absolute Value® Portfolios. Prior to joining River Road in 2005, Thomas served as Equity Analyst and Portfolio Manager for ABN AMRO Asset Management USA. At River Road, Thomas and his investment team aim to provide attractive total returns and capture the strong downside they typically expect with dividends. Thomas talks with Rusty and Robyn about value investing, market risks, and River Road Asset Management's strategies for creating portfolios that generate attractive total returns.  Key Takeaways [04:56] - What drew Thomas to the investment industry. [05:59] - Thomas' role at River Road Asset Management. [06:47] - River Road Asset Management's value investment philosophy. [11:25] - What River Road Asset Management sees as the market's future. [13:58] - Today's biggest market risk. [16:48] - Thom's outlook on value investing. [20:27] - How River Road Asset Management creates portfolios in today's market. [22:41] - Thom's perspective on the financial and technology sectors. [25:45] - Thom's personal investment strategy. [26:36] - How Thomas maintains his physical and mental well-being to perform at his best. [29:37] - River Road Asset Management's Reading Recommendations. Quotes [07:08] - "Value is in the eye of the beholder. Two value managers can look at the same stock and have two very different opinions on how attractive it is." - Thomas Forsha  [08:51] - "If you go too much in the deep value, you're going to sacrifice some of that downside protection as those types of companies typically don't do particularly well when credit markets tighten up and markets get quite volatile." - Thomas Forsha [11:33] - "We have a simple, consistent framework that we've been using to look at the market forward-looking over the years. And it's based upon five key factors: valuation, monetary policy/credit markets, fiscal policy, regulation sentiment, and then what we call a wild card." - Thomas Forsha Links  Thomas Forsha on LinkedIn River Road Asset Management Daniel Crosby Orion Advisor Solutions I'm Still Standing by John Elton The Ohio State University University of Iowa Hospitals & Clinics The University of Chicago Andrew MacIntosh Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1208-OPS-7/11/2022

    Investing in the Face of Market Risks with Daniel Villalon

    Play Episode Listen Later Aug 2, 2022 59:41


    Due to the many risks facing today's market, many investors wonder whether now is the time to invest or just sit on the sidelines. While diversification can minimize exposure to any single economic, political, or market event, it's important to know the market's top risks to enable investors to manage expectations and protect their portfolios. But what are today's top market risks, and how can investors move forward? In this episode, Rusty and Robyn talk with Daniel Villalon, Principal and Global Co-Head of the Portfolio Solutions Group at AQR Capital Management. In his role, Daniel oversees the team responsible for advising clients on portfolio challenges and creating investor-oriented thought leadership. Additionally, Daniel founded, co-wrote, and hosted AQR's podcast, The Curious Investor. Daniel talks with Rusty and Robyn about the market's top risks, what investors should expect moving forward, and how they can stay invested and reach their financial goals. Key Takeaways [05:25] - How Daniel went from the vineyard to the financial industry. [08:28] - The key role Daniel plays at AQR Capital Management. [11:04] - AQR's market outlook for the remainder of the year. [12:37] - The inflation perspective of AQR. [14:10] - Daniel's thoughts on recession risk. [17:01] - How Daniel rates the risk of fighting the Fed. [18:54] - How AQR measures the impact of investor expectations. [21:29] - Another potential risk Daniel is keeping an eye on. [23:38] - What investors could expect in terms of market returns in the years ahead. [26:58] - The return expectations for growth stocks versus value stocks. [32:16] - Why firms should have CMAs. [36:42] - What investors should do with their portfolios, given all the risks and challenges in the current market. [41:48] - AQR's perspective on commodities and real estate. [46:06] - How Daniel views long-short strategies. [47:50] - AQR's thoughts on managed futures and merger arbitrage. [52:48] - Daniel's personal investment strategy. [54:50] - How Daniel maintains his physical and mental well-being to perform at his best. Quotes [11:23] - "Coming up with an expected return for the future is easy to do, but very hard to do well." - Daniel Villalon [12:00] - "Diversification is the most reliable or least imperfect solution when positioning yourself for a world where you don't know with certainty what the next few months will bring." - Daniel Villalon [13:53] - "Inflation is a risk that neither of the two biggest traditional asset classes is particularly well suited to address." - Daniel Villalon [20:55] - "One of the challenges in terms of investor expectations is a lot of folks, implicitly or not, set their expectations based on what they've seen recently. That's created a massive disconnect regarding what people expect from markets and what they're likely to get over the next five to 10 years." - Daniel Villalon Links  Daniel Villalon on LinkedIn AQR Capital Management Help! by The Beatles The Laws of Wealth: Psychology and the Secret to Investing JP Morgan The Mitchell Madison Group Pine Ridge Vineyards The Curious Investor Podcast Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least Buttonwood's notebook | The Economist Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1211-OPS-7/12/2022

    Investing in REITs with Matt Werner

    Play Episode Listen Later Jul 26, 2022 28:57


    Real estate investment trusts (REITs) are one of the most popular investments for income-seeking investors. They can be a valuable addition to any portfolio as they offer high dividend yields and the potential for capital appreciation. In this episode, Rusty and Robyn talk with Matt Werner, Managing Director and Portfolio Manager at Chilton Capital Management. In his role, Matt leads the Chilton REIT Team, performs analysis, conducts property tours, and meets with REIT management teams to assemble a portfolio that seeks to outperform the benchmark. His team is also responsible for managing accounts for institutions, high net-worth individuals, and a public 40 Act Fund.  Matt talks with Rusty and Robyn about Real Estate Investment Trusts (REITs), how they work, why investors and advisors should consider investing in them, and the general rule of thumb for investing in REITs. Key Takeaways [03:41] - What attracted Matt to real estate investment trusts. [06:30] - How Chilton Capital Management's REITs strategy differs from others. [08:07] - REITs: What they are and how they work. [10:24] - Why investors and advisors should consider investing in REITs. [12:51] - A general rule of thumb for investing in REITs. [14:33] - Matt's forecast for the macroeconomy in the coming months. [17:13] - Matt's outlook for commercial properties. [20:16] - What Matt thinks about multi-family, rentals, and mobile home parks. [22:13] - Matt's personal investment strategy. Quotes [05:11] - "In 2008, REITs were the first ones to be able to break through the capital barrier. And they were able to raise debt and equity, albeit at a very dilutive price, and it shows me that this is a cool way to apply some knowledge I learned in real estate." - Matt Werner [09:54] - "I think the public REITs will continue to show their superiority for individuals as we go along and grow their share of the pie, which has been growing rather slowly but still making headway." - Matt Werner [11:23] - "Residential real estate has done well in times of inflation. And thinking logically, you could apply that to something like multi-family or single-family rentals that inflation should help on that top-line growth for rent." - Matt Werner Links  Matt Werner on LinkedIn Chilton Capital Management The Chilton Capital Management REIT Strategy Tweezer Strategas Boston College Salient Partners Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1177-OPS-7/6/2022

    The State Of Wealth And Investment Management with Chip Roame

    Play Episode Listen Later Jul 19, 2022 37:25


    Changes in technology, demographics, and the economy are having an impact on how people invest their money. New opportunities are emerging for those willing to take risks.  In this episode, Rusty talks with Chip Roame, Founder & Managing Partner of Tiburon Strategic Advisors and the Tiburon CEO Summits. He is responsible for all of Tiburon's advisory, research, service, and marketing activities, keeping him on the leading edge of strategic initiatives in the industry's fastest-growing businesses.  Chip shares with Rusty the five key things everyone in financial services should consider regarding the industry, gives advice to aspiring financial advisors, and provides insight into future-proofing financial service practices.  Key Takeaways [03:49] - Chip Roame's professional background. [05:39] - Tiburon Strategic Advisor's role in wealth and investment management. [07:18] - The fun of Tiburon Strategic Advisors. [10:38] - The current and future states of wealth and investment management. [14:00] - Chip's investment equation solution. [16:38] - Chip's thoughts on direct indexing and ETFs. [17:55] - Chip's perspective on the new tax alpha. [19:46] - A piece of advice Chip has for aspiring financial advisors. [21:12] - Two channels that are gaining traction with financial consumers. [23:00] - The impact of COVID on financial services. [25:05] - Chip's outlook on mergers and acquisitions. [27:07] - How registered investment and financial advisors can future-proof their practices. [29:57] - How Chip's investment strategy looks. [31:01] - The qualities of a good financial advisor. [31:55] - How Chip manages his time effectively. Quotes [11:34] - "The Gen X generation is your big opportunity in the next decade. Gen X will save and invest more money than millennials and baby boomers added together in the next 10 years." - Chip Roame [13:38] - "Women trade less and buy more cost-competitive products. So, two reasons they do better are they buy cheaper stuff and don't turn it over and create taxes. So, if you compare women and men, that's why they beat men." - Chip Roame [20:59] - "If I were a young person wanting to join the wealth industry, I would certainly look to join an RIA registered investment advisor who's charging fees, acting as a fiduciary, and doing a lot of planning." - Chip Roame [35:17] - "The wealth management industry is a great profession. On both ends of the spectrum, I think you can build a huge business in wealth management right now, whether through organic growth or inorganic acquisitions." - Chip Roame   Links  Chip Roame on LinkedIn Tiburon Strategic Advisors Live Like You Were Dying by Tim McGraw Love Your Love The Most by Eric Church University of Michigan McKinsey Charles Schwab Skip Schweiss Sierra Investment Management Tiburon CEO Summits Tiburon Impact Adventures Morningstar Fidelity Investments Vanguard Mariner Wealth Advisors Mercer Allworth Financial Edelman Financial Engines Envestnet Investcloud Vestmark Addepar Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1171-OPS-7/6/2022

    Mid-Cap Growth Stock Investing with Cody Wheaton and Brian Demain

    Play Episode Listen Later Jul 12, 2022 51:42


    Mid-cap growth stocks are the sweet spot for many investors. They offer the potential for significant capital appreciation while providing downside protection. Despite being overlooked and under-allocated, why are mid-cap growth stocks a good investment option, and why are they an excellent addition to portfolios? In this episode, Rusty talks with Cody Wheaton and Brian Demain, Co-Portfolio Managers at Janus Henderson Investors. With more than 20 years of experience in fundamental investment due diligence and securities analysis in the small and mid-cap space, Cody and Brian know mid-cap strategies. In addition to the portfolio responsibilities, Cody also serves as an equity research analyst focusing on small and mid-cap stocks within the financials and consumer sectors. Cody and Brian talk with Rusty about mid-cap growth stock investing, the impact of inflation, and potential paradigm shifts in the markets. Key Takeaways [03:53] - A quick look at Brian and Cody's backgrounds. [05:18] - What are growth and mid-cap stocks? [06:39] - The investment philosophy and strategies of Janus Henderson Investors. [09:03] - How Janus Henderson Investors' strategies differ from other firms. [11:55] - How Janus has changed over the years. [14:21] - An example of how Janus puts their strategies into action. [18:14] - How Janus' growth stock strategy performed relative to the overall market. [21:38] - A rule of thumb for how much exposure one should have in mid-cap growth. [26:31] - What the article, “Investing Through A Paradigm Shift In Mid-Cap Growth”, is about. [35:21]- Cody's takeaways on the financial and consumer sectors for small and mid-cap stocks. [38:13] - Cody and Brian's personal investment strategy. [41:38] - How Cody and Brian maintain their physical and mental well-being to perform at their best. [45:59] - A list of Cody and Brian's favorite books and podcasts. Quotes [08:48] - "Trading is a hard thing to get right. But if you find the right stocks and let them compound value, that will deliver value for clients. And our goal is to outperform the peer group and the benchmark and do so with less absolute volatility than both over time." - Brian Demain [12:39] - "Being part of a larger organization means more scale. It means more diversity of assets, more stability to the organization, and better resources to ultimately try to do what we do. And as very long-term oriented investors, it's essential to be part of an organization that's stable and financially healthy." - Cody Wheaton [24:25] - "As investors in the mid-cap category, we're always looking to buy companies in that mid-cap range. We have the flexibility to hold them as they grow and become large-cap companies, as long as we continue to believe in the business and the investment thesis." - Cody Wheaton [38:40] - "One of the most important things for investors, before they contemplate getting involved in the markets, is having an honest assessment with themselves and with their financial advisors about their goals and risk tolerance." - Cody Wheaton   Links  Brian Demain on LinkedIn Cody Wheaton on LinkedIn Janus Henderson Investors More Than A Feeling by Boston Kashmir by Led Zeppelin Catherine Wood ARK Funds Liberty Media Corporation Morningstar David Dreman Enterprise Fund - Janus Henderson Investors Engines That Move Markets: Technology Investing from Railroads to the Internet and Beyond The Origin of Wealth: The Radical Remaking of Economics and What it Means for Business and Society Invest Like the Best with Patrick O'Shaughnessy Connections: Investment Matters Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1172-OPS-7/6/2022

    A Simple Guide To Liquid Alternatives with Joshua Emanuel

    Play Episode Listen Later Jul 5, 2022 31:14


    Investors are increasingly looking for ways to diversify their portfolios and generate alpha. One way to do this is by investing in liquid alternatives. But what exactly are liquid alternatives? How can investors use them to protect themselves from market volatility? In this episode, Rusty and Robyn talk with Joshua Emanuel, Chief Investment Officer at Wilshire. Prior to Wilshire, Joshua also served as CIO for The Elements Financial Group, where he developed and managed various multi-asset investment strategies, portfolio manager of two actively managed exchange-traded funds, and co-developed RiskPro®. In his current role, Joshua is responsible for the Wilshire business unit's investment platform and directly supervises the portfolio management, manager research, and investment research teams. Joshua talks with Rusty and Robyn about what liquid alternatives are, the pros and cons of investing in these assets, and how investors buy and use them. Key Takeaways [03:50] - An overview of Joshua's career and his role at Wilshire. [05:02] - What Wilshire's Monday Market Flash is all about. [05:59] - Joshua's market outlook for the rest of the year. [08:06] - What liquid alternatives are and how they work. [10:36] - The pros and cons of liquid alternatives. [12:09] - How investors buy and use liquid alternatives. [15:46] - How liquid alternatives fit into the current market environment. [17:20] - What makes a good investment manager. [20:50] - Joshua's best practices for investment committees. [22:55] - How Joshua manages money on a personal and professional level. [24:27] - How Joshua maintains his physical and mental well-being to perform at his best. [26:09] - Joshua's book recommendations for advisors. Quotes [10:16] - "Liquid alternatives are solutions that can be beneficial from a portfolio construction perspective. It allows investors to diversify their risk away from the traditional sources of return, which, as we have seen year to date, whether you're in bonds or equities, there's been nowhere for you to hide." - Joshua Emanuel [11:04] - "The biggest challenge for many financial advisors and even for investors is managing emotion." - Joshua Emanuel  [16:47] - "Multi-strategy is a category commonly used by investors as a core anchor to substitute both equity and fixed income risk into one underlying fund." - Joshua Emanuel Links  Joshua Emanuel on LinkedIn Wilshire Gimme Shelter by The Rolling Stone Morningstar The Drunkard's Walk: How Randomness Rules Our Lives by Leonard Mlodinow Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1072-OPS-6/17/2022

    Goals-Based Financial Strategies with Scott Ladner

    Play Episode Listen Later Jun 28, 2022 37:22


    As the financial landscape changes, so do the goals of investors. Rather than simply trying to achieve the highest return, investors are increasingly focused on achieving specific financial goals. As investors are shifting the way they view their portfolios, how can they construct a portfolio tailored to their unique circumstances and goals? In this episode, Rusty and Robyn talk with Scott Ladner, CEO and Chair of the Investment Committee at Horizon Investments. In these capacities, he oversees all aspects of the firm's Investment Management division. He also provides macro analysis and interpretation of global derivatives, credit, foreign exchange, equity, and funding markets. Scott talks with Rusty and Robyn about what goals-based investing is and how it differs from traditional investing, how to mitigate the risks associated with investing, and what his outlook is for the ETF industry.   Key Takeaways [03:09] - Scott Ladner's career and his role at Horizon Investments. [06:44] - How goals-based investing differs from traditional investing. [09:17] - The desired outcomes and planning horizons of goals-based investing. [11:04] - The primary risks of investing and how to mitigate them. [13:52] - What their blog, 5 Years, is all about.  [15:48] - Inflation and the battle against it. [18:53] - The impact of inflation on interest rates. [21:28] - What the expression 'don't fight the feds' means to Scott. [23:05] - Scott's take on valuations and possible recessions. [29:30] - Scott's outlook on the ETF industry. [31:40] - How Scott manages his wealth personally. [32:29] - How Scott maintains his physical and mental health to perform at his best. Quotes [11:32] - "When we're talking about our gain strategies where the primary thing we're trying to do is make money, the primary risk for us is volatility." - Scott Ladner [16:54] - "For the rest of this year, we're going to be fighting a battle between falling goods prices and rising food, energy, and services prices." - Scott Ladner [22:14] - "Don't fight the fed in 2022 means that the only thing the fed can do to fight this inflation problem they see now is demand destruction." - Scott Ladner [30:06] - "It's great to have the ability to use these ETFs, but the knowledge about how to use them and generate expectations are complex." - Scott Ladner Links  Scott Ladner on LinkedIn Horizon Investments Sanitarium by Metallica PEAK6 Robbie Cannon Brent Donnelly Quill Intelligence Danielle DiMartino Booth Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1041-OPS-6/14/2022

    ETF Investing, ESG Strategies, and Total Return with Herb Morgan

    Play Episode Listen Later Jun 21, 2022 41:03


    As investors continue to search for opportunities that align with their personal beliefs and goals, ESG considerations are playing an increasingly important role in the evaluation of potential investments. As such, ETFs that focus on ESG strategies are growing in popularity.  In this episode, Rusty talks with Herb Morgan, Sr. Managing Director and Chief Investment Officer at Efficient Market Advisors (EMA). Prior to founding EMA in 2004, Herb was Senior VP of Advisory at Linsco/Private Ledger Financial Services, Inc. now known as LPL Financial. Today, Herb is one of the financial industry's recognized experts in the area of ETFs and the creator of the Efficient Market Advisors Managed ETF Account, a low-cost, tax-efficient investment account that utilizes ETFs. As an ETF strategist, Herb talks with Rusty about the current market conditions and his outlook for the ETF industry, how investors should build portfolios for income, and how EMA builds ESG portfolios. Key Takeaways [02:31] - A brief overview of Herb Morgan's professional history. [04:16] - What Herb's current outlook is for the ETF industry. [06:53] - How investors should build portfolios for income. [09:16] - EMA's approach to building ESG portfolios. [15:09] - Herb's thoughts on inflation and how he manages it. [18:36] - Herb's forecast on where the market is headed given the inflation. [22:04] - How Herb adapted portfolios based on inflation and interest rate forecasts. [25:12] - Herb's thoughts on the possibility of a recession and corporate earnings. [28:18] - What Herb has to say about stock market valuations. [30:10] - The geopolitical situation in Europe and its impact on portfolios. [32:16] - The implications of global debts for markets and the economy. [34:54] - What Herb's personal portfolio looks like. [36:39] - How Herb keeps himself physically and mentally healthy to perform at his best. [38:03] - Herb's advice for investors in terms of growth. Quotes [24:19] - "How can you tell everybody to stay home and close an economy? But to make it up for you, we're going to give you money and therefore you have more money chasing no goods and services because we shut down everything. So, it just created inflation." - Herb Morgan [33:23] - "We're the only country in the world that really has the luxury and can therefore run this perpetual deficit. And the deficit is financed by the trade deficit. It's one of the reasons we live so much better than anybody else." - Herb Morgan [38:24] - "Growing is sort of everybody's objective. But the work that it takes to grow does not always appeal to everyone." - Herb Morgan Links  Herb Morgan on LinkedIn Efficient Market Advisors Morningstar Slaying Bulls and Bears Podcast Orion Advisor Solutions Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1018-OPS-6/13/2022

    Why Advisors Should Outsource Investment Management with Kostya Etus

    Play Episode Listen Later Jun 14, 2022 49:07


    Financial advisors are responsible for the well-being of their clients, and with that comes a fiduciary duty to act in their clients' best interests at all times. In order to do so, they need to juggle working with clients, maintaining compliance, keeping up with market trends, performing due diligence on potential investments, and more. Advisors who attempt to manage everything on their own quickly find themselves stretched thin and overwhelmed.  In this episode, Rusty talks with Kostya Etus, Head of Strategy, Portfolio Services Team at Dynamic Advisor Solutions. Prior to Dynamic, Kostya served the Orion organization (CLS Investments and Orion Portfolio Solutions) for more than 10 years where he held a variety of roles, including Trading Specialist, Research Analyst, Portfolio Manager, and Director of Research.  Kostya talks with Rusty about why advisors should outsource money management, how advisors can help investors, and how technology plays a key role in helping investors. Key Takeaways [05:44] - An overview of Kostya's background and his work at Dynamic Advisor Solutions. [10:29] - Why advisors should outsource money management. [15:47] - How technology plays a key role in helping investors. [18:34] - What Kostya looks for in an investment manager. [21:44] - What makes a good financial advisor. [23:23] - Kostya's advice to investors during difficult market conditions. [26:45] - How to stay on top of the latest market trends. [30:04] - Movie recommendations to watch this year. [38:19] - The secret behind Kostya's fantasy football strategy. [40:44] - How Kostya maintains physical and mental health to perform at his best. [43:30] - Favorite resources and book recommendations.   Quotes [03:19] - "I'm a strong believer that in any situation, no matter how different a set of people's views is or opinions, there's always a way to walk out of a situation where both parties are happy." - Kostya Etus [13:14] - "If you're outsourcing, you don't have to spend time on some of the investment management responsibilities. You spend more time focusing on your client relationships. You can focus on what matters most, whether it's enhancing your business or just spending time on yourself." - Kostya Etus [16:27] - "Technology is what helps advisors streamline their day-to-day tasks. That's what really helps them make their lives easier." -Kostya Etus   Links  Konstantin (Kostya) Etus on LinkedIn Dynamic Advisor Solutions Dynamic Advisor Solutions | Blog CLS Investments Why Can't We Be Friends Joe Smith Joshua Jenkins Grant Engelbart Case Eichenberger Advisor's Alpha ARKK | The ARK Innovation ETF by Cathie Wood Orion Advisor Solutions CAIS Morbius The Northman The Lighthouse The Batman Everything Everywhere All At Once The Unbearable Weight of Massive Talent Top Gun: Maverick Bullet Train Nope Elvis Avatar 2 : The Way of Water A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan Ben Hunt -  Epsilon Theory Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0992-OPS-6/7/2022

    Podcasting As a Revenue Generator for Financial Services with David Ledgerwood

    Play Episode Listen Later Jun 7, 2022 37:20


    It is no secret that content is king when it comes to marketing. Advisors looking for ways to reach and engage clients should consider starting a podcast. Podcasting is an intimate medium, providing advisors with the opportunity to connect with existing clients and build relationships with prospective clients. Podcasting is also a great way for advisors to position themselves as thought leaders in the industry. In this episode, Rusty and Robyn talk with David Ledgerwood, B2B Podcast Strategist and Revenue Lead at Turncast, a podcast production company for fintech and financial services. Prior to joining Turncast, David has more than a decade of experience leading companies to 7- and 8-figure revenue growth. David talks with Rusty and Robyn about how podcasting can be a valuable asset in business, why financial advisors should consider launching their own podcast, and how to create a great podcast that listeners will subscribe to and keep listening to. Key Takeaways [03:39] - What David has been up to over the past 20 years. [07:00] - What Turncast offers the fintech and financial services industries. [09:48] - Why the podcast industry is exploding and booming in popularity. [12:05] - David's outlook on the future of podcasting. [14:37] - Why financial advisors should consider having their own podcast. [18:20] - What equipment is needed to start a podcast. [20:16] - David's recommendations for using video on Zoom calls. [22:28] - What makes a good podcast. [26:31] - The ideal length for a podcast. [28:04] - How podcast creators can reach the right audience and market. [32:32] - How David stays physically and mentally fit to perform at his best. Quotes [12:58] - "Podcasting offers an interesting dynamic because it's audio. And we know audio consumption goes up while people are driving, doing chores, doing other things — thus making it very different than video consumption." - David Ledgerwood [24:32] - "What you're really trying to do as a host or creator of a show is develop the habit that a listener will keep coming back because they like the experience of being a listener and they'll subscribe to your thing and they'll keep coming back on a regular basis." - David Ledgerwood [28:31] - "I'm a big fan of content reuse. I love podcasting because it's not just about the podcast. It's forcing you to have conversations." - David Ledgerwood Links  David (Ledge) Ledgerwood on LinkedIn Wild Side by Mötley Crüe PwC | PricewaterhouseCoopers Turncast Darknet Diaries Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0913-OPS-5/24/2022

    The Stoic Approach to Navigating Financial Markets with William B. Irvine

    Play Episode Listen Later May 31, 2022 46:56


    The philosophy of stoicism teaches that humans are capable of enduring any hardship by focusing on what is in their control and by accepting the things they cannot change. In the investing world, this means not getting caught up in market noise and instead focusing on the long term.  In this episode, Rusty and Robyn talk with William B. Irvine, professor of philosophy at Wright State University and author of several books, including A Guide to A Good Life and The Stoic Challenge. William is an internationally acclaimed author whose work explores philosophy and stoicism. William talks with Rusty and Robyn about the philosophy of stoicism, how it can help investors navigate the market, how it can be applied in everyday life, and how it can help people cope with setbacks. Key Takeaways [02:09] - William's professional background. [05:56] - What made William interested in stoicism. [08:22] - The key principles of stoicism. [11:34] - How negative visualization breeds positive results. [14:13] - How stoic principles can be applied in daily life. [15:41] - What the stoics think about money. [19:22] - How stoicism helps advisors be successful in the long run. [23:43] - How stoicism can help investors cope with losses. [26:06] - The impact of desire on investors. [29:19] - William's advice when it comes to dealing with insults. [31:47] - How stoicism can be used to cope with setbacks. [34:57] - How William maintains his physical and mental health to perform at his best. [41:43] - The impact of William's stoicism on his investments. [43:12] - William's book recommendations on stoicism. Quotes [08:50] - "Focus your attention on the things you can control. Because if you focus your attention on the things you cannot control, you're wasting your time and your emotion." - William B. Irvine [11:50] - "One of the ways to increase the number of positive emotions you experience and to make whatever you're now experiencing vastly more tolerable is to take a moment to think about how things could be worse." - William B. Irvine [19:32] - "Emotions are your biggest enemy and you are your biggest enemy. You are your biggest obstacle to successful investing. And the problem is your emotions are gonna give you all the wrong answers." - William B. Irvine [30:09] - "Insults are just words. It's your response to an insult that does you the harm." - William B. Irvine Links  William B. Irvine Wright State University Oxford University Press A Guide to A Good Life: The Ancient Art of Stoic Joy A Slap in the Face: Why Insults Hurt — And Why They Shouldn't On Desire: Why We Want What We Want The Stoic Challenge: A Philosopher's Guide to Becoming Tougher, Calmer, and More Resilient Meditations by Marcus Aurelius The Manual: A Philosopher's Guide to Life Waking Up Conversations | Sam Harris Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0856-OPS-5/17/2022

    Managing Investments That Are Built to Last with Rayna Lesser Hannaway

    Play Episode Listen Later May 24, 2022 26:02


    Given rising interest rates, slower economic growth, and geopolitical tensions, it goes without saying that the current market climate is turbulent. As a result, many investors are left wondering how they can still achieve their financial goals. While there is no one silver bullet that can guarantee success in every situation, there are a number of strategies that investors can utilize in order to put themselves in a good position to meet their targets. In today's episode, Rusty and Robyn talk with Rayna Lesser Hannaway, Head of the Portfolio Manager & Analyst Team, Small Company Growth and Co-Chair of WISE (Women Inspiring Success & Engagement) ERG at Polen Capital Management. In her 26 years in the investment industry, Rayna has developed an investment philosophy that combines growth, quality, concentration, and long-term holding periods. Additionally, she believes that women can thrive in fund management. Thus, empowering and supporting them to succeed in the wealth and investment management arena. Rusty and Robyn talk with Rayna about how investors can meet their financial goals even when the markets are turbulent, what investment strategies they employ at Polen Capital, and Rayna's advice for investors during this time of market volatility. Key Takeaways [03:58] - Rayna's career background and investment experiences. [05:56] - How Polen Capital inspires women in investment management. [07:36] - How Polen Capital is performing in the current market environment. [09:53] - Four investment strategies that Rayna manages at Polen Capital. [13:52] - Rayna's advice for investors in today's volatile market. [15:09] - What Rayna looks for in a good research analyst and portfolio manager. [18:05] - Rayna's personal investment strategy. [19:53] - How Rayna maintains her mental and physical health. [21:56] - Rayna's book and podcast recommendations. Quotes [04:54] - "The most important thing I've learned over my career is that focusing on companies that are built to last is the best way to drive great long-term outcomes, especially in the small and mid-cap market." - Rayna Lesser Hannaway [06:31] - "There actually hasn't been that much progress that's been made in bringing more women and other underrepresented groups into research and portfolio management. And so, at WISE, we're really trying to build a strong community amongst the women and people that identify as women and make sure that we help them on their journey." - Rayna Lesser Hannaway [14:05] - "It's so easy to lose emotional discipline during a time like this. So, I think it's really important for investors to stay focused on the long term and stay focused on companies that can endure some of the obstacles that we're facing today." - Rayna Lesser Hannaway Links  Rayna Lesser Hannaway on LinkedIn High Hopes by Panic! at the Disco Polen Capital Fidelity Investments Golden Seeds Taneka Lawrence Jeff Mueller Jim Collins Great By Choice by Jim Collins Invest Like the Best with Patrick O'Shaughnessy The Knowledge Project with Shane Parrish Huberman Lab Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0861-OPS-5/18/2022

    ESG Investing: Building A Sustainable and Socially Responsible Investment Practice with Theresa Gusman

    Play Episode Listen Later May 17, 2022 44:13


    Environmental, Social, and Governance (ESG) investing has grown in popularity as people become more aware of sustainable and responsible investing. Investors are increasingly interested in companies that are aligned with their own personal values. How can they incorporate socially responsible investing into their portfolios? In today's episode, Rusty and Robyn talk with Theresa Gusman, Chief Investment Officer and Chair of the Investment Committee at First Affirmative Financial Network. As Chair of the Investment Committee, she coordinates implementation of the investment philosophy and strategy with other stakeholders by designing and executing investment protocols, policies, reviews and reporting. As a CIO, Theresa is committed to incorporating environmental, social, and governance issues into investment decisions. Theresa talks with Rusty and Robyn about how a portfolio can make a positive impact in the world, what ESG investing is, and how this type of investment strategy can be incorporated into portfolios. Key Takeaways [04:02] - Theresa's career highlights in the financial services industry. [07:43] - What SRI investing is and how it began. [11:32] - How SRI investing has grown over time. [14:01] - How ESG investing fits into the current market environment. [15:09] - How First Affirmative Financial Network facilitates change in corporations. [18:33] - A few ways investors can incorporate climate change into their portfolios. [23:51] - What Value-Aligned Direct Index Solutions are and how to invest in them. [26:23] - How direct indexing works. [29:04] - How direct indexing can be used for ESG investing. [31:26] - What greenwashing is all about. [33:55] - The challenges of investing in ESG and how First Affirmative resolves them. [38:22] - What prevents people from investing in ESG. [40:06] - How Theresa keeps her health and wellness at a high level. [41:23] - Theresa's recommendations for learning more about ESG investing. Quotes [06:18] - "Authentic ESG refers to a true commitment to incorporating environmental, social, and governance factors into investment solutions to make the world a better place." - Theresa Gusman [10:51] - "When we talk about values aligned, we're talking about true values alignment. So, every individual has their own personal environmental and social ethical preferences. And when we talk about values-aligned investing, we believe that you should be able to reflect your values in your portfolio." - Theresa Gusman [31:08] - "When you are able to offer a portfolio that allows you to determine how you want the world to look and then reflect that in your portfolio, it becomes a really powerful incentive to move in this direction." - Theresa Gusman Links  Theresa Gusman on LinkedIn First Affirmative Financial Network Thunderstruck by AC/DC Deutsche Bank Morningstar MSCI JP Morgan Bank of America YourStake Orion Advisor Solutions BlackRock Allianz CrossFit George Gay Bill Hairgrove Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0762-OPS-5/3/2022

    The Competitive Advantage of Working with Boutique Strategist Firms with Robert Baker

    Play Episode Listen Later May 10, 2022 22:41


    In times of political and economic uncertainty, some investors choose to stay the course, while others take a more tactical approach, seeking opportunities amid market volatility. While there is no one-size-fits-all answer for how investors should invest during uncertain times, there are ways to help navigate the market. In today's episode, Rusty and Robyn talk with Robert Baker, President of Advanced Asset Management Advisors (AAMA). Prior to founding AAMA, Robert served as Vice President of a large regional investment firm and President of a national advisory group. He founded AAMA in 1998, with the mission of creating a better client investment experience. Today, he remains heavily involved in carrying that vision forward, overseeing the daily management of the company. Robert talks with Rusty and Robyn about why advisors and investors should consider working with smaller, boutique strategist firms, what advisors can do in a volatile market, and why the global debt crisis is alarming. Key Takeaways [02:31] - The history of AAMA. [03:38] - Why advisors should consider working with smaller boutique strategist firms. [06:00] - Some key lessons from Robert's career. [08:01] - How AAMA deals with inflation. [09:57] - How Robert responds to investors who claim the stock market isn't expensive. [11:11] - Robert's advice to investors during a volatile market. [12:30] - How investors can prepare for a possible recession. [14:49] - Why global debt is alarming. [15:39] - What is positive about the economy today. [17:42] - How Robert maintains his physical and mental well-being to perform at his best. Quotes [04:04] - "We realized pretty quickly that every strategist would like to have 100% of a portfolio. But in reality, most investors and most advisors are going to be most well served to have their portfolios allocated amongst a couple of diversification control risks. And not all firms can be everything to all clients." - Robert Baker   [04:40] - "We've firmly believed that client expectations and consistencies are a key to positive experiences. So, we like to think that a smaller and a medium-size asset base gives us that flexibility that people can get ahold of us." - Robert Baker [20:12] - "We have the greatest country and the greatest economy in the world. We've weathered a lot of storms at times. It seems like there are so many negatives out there, but you have to look through and look for the positives and you can't overreact to things either way in the marketplace." - Robert Baker  Links  Robert Baker on Advanced Asset Management Advisors Robert Baker Email Advanced Asset Management Advisors Papa's Got A Brand New Bag by James Brown Sizing Up Your Partners – How Smaller, Boutique Strategist Firms Can Give You An Edge Staying Relevant To Clients As Their Expectations Change Spymaster by Brad Thor Aaron Ploscowe Email Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0633-OPS-4/18/2022

    Everything You Need To Know About Inflation with "The Inflation Guy", Michael Ashton

    Play Episode Listen Later May 3, 2022 50:50


    Inflation is an enduring economic challenge that has persisted throughout human history. Despite the many efforts of economists and governments to control it, inflation remains a problem. What can advisors do to prepare and protect their investment portfolios? In today's episode, Rusty and Robyn talk with Michael Ashton, a.k.a. "The Inflation Guy", Managing Principal at Enduring Investments. Michael is recognized as one of the pioneers in U.S. inflation market innovation. Prior to founding Enduring Investments, he worked in research, sales and trading for several large investment banks including Bankers Trust, Barclays Capital, and JP Morgan. As a result of his deep experience and knowledge about inflation and how it impacts markets, Michael is considered the expert to the experts in the world of inflation. Michael talks with Rusty and Robyn about the causes and concerns around inflation, how investors can potentially adjust their investment portfolios in an inflationary environment, as well as his outlook on inflation over the next few years.   Key Takeaways [03:20] - An overview of Michael Ashton's professional career. [05:40] - What Enduring Investment has to offer investors. [09:41] - Michael's forecast on inflation over the next few years. [12:46] - How investors can prepare for inflation. [14:19] - The pros and cons of TIPS. [17:00] - Michael's perspective on I Bonds. [19:07] - Can digital assets or cryptocurrencies be used to fight inflation? [21:53] - The best time to purchase a car or to build a house. [28:16] - Michael's outlook on grain prices and food prices. [31:08] - Michael's forecast on educational inflation. [34:40] - What global debt means for financial portfolios. [39:10] - Why “defend your money” became Michael's tagline. [45:02] - What makes a good investment manager. [46:41] - How Michael maintains his physical and mental health. Quotes [16:49] - "Inflation exposes securities. That's what regular treasuries are. And TIPS are immune to inflation." - Michael Ashton  [18:05] - "If you're a small investor, the first investment you should be making is to take everything and put in into I Series Savings Bonds which have no interest rate risk, have no credit risk, and pay you inflation." - Michael Ashton [30:13] - "Food and energy prices change a lot. They also feedback very quickly on our perceptions of inflation as well. And global food shortages lead to political unrest at home and abroad and further the deglobalization trend that's in process." - Michael Ashton   Links  Michael Ashton on LinkedIn Michael Ashton Email Michael Ashton on Twitter Michael Ashton Blog Enduring Investments Red Barchetta by Rush You Can't Roller Skate In A Buffalo Herd by Roger Miller  Cents and Sensibility:  The Inflation Guy Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0631-OPS-4/18/2022

    Event-Driven Investing Strategies with Yoav Sharon

    Play Episode Listen Later Apr 26, 2022 34:19


    When it comes to investing, there are many strategies that can be employed to achieve success. One of these is event-driven investing. At its core, this type of investing focuses on capitalizing on idiosyncratic corporate events and taking advantage of catalysts that can move stock prices.  In today's episode, Rusty and Robyn talk with Yoav Sharon, Portfolio Manager at Driehaus Capital Management. Yoav has been in the investment management industry for more than 16 years. Prior to joining Driehaus Capital Management in 2012, he was a senior analyst and trader at Peak6 Investments. In his current role, Yoav is responsible for idea generation, portfolio construction, security selection, and investment research. Yoav talks with Rusty and Robyn about what event-driven investing is, what the three different strategies within event-driven investing are, and how this differs from other alternative investments. Key Takeaways [03:16] - An overview of Yoav's journey into investment management and what he does at Driehaus Capital Management. [04:17] - What is event-driven investing? [05:22] - The three different strategies within event-driven investing. [09:12] - How Yoav allocates assets based on event-driven investing strategies. [10:59] - What sets event-driven investing apart from other alternative investments. [12:23] - What relative volatility looks like compared to the overall stock market. [14:02] - How investors utilize event-driven investing strategies. [16:05] - Yoav's personal investment strategy. [17:35] - How Yoav put event-driven investing into practice. [20:58] - How M&A has gone so far this year. [22:55] - His views on the future of the credit markets. [26:28] - What makes a good investment manager. [28:27] - How Yoav maintains his physical and mental health to perform at a high level. Quotes [20:32] - "Everything we're doing is trying to laser focus on finding events that are going to unlock value. And during periods of market turbulence, instability, or uncertainty, we tend to really focus even more on hard catalysts and events that are near term in nature so that we can insulate ourselves even more from market turmoil." - Yoav Sharon Links  Yoav Sharon on LinkedIn Driehaus Capital Management Driehaus Capital Management on Twitter Gimme Shelter by The Rolling Stone Kellogg School of Management Northwestern University Nasdaq PEAK6 EconTalk Podcast Dan Carlin's Hard Core History Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0582-OPS-4/7/2022

    Why Investors Should Consider Digital Assets with Christopher King

    Play Episode Listen Later Apr 19, 2022 49:53


    Cryptocurrencies and the underlying blockchain technology have exploded in value and popularity at an exponential rate. Despite their rapid growth, many investors remain hesitant to invest in them due to their volatility. In today's episode, Rusty and Robyn talk with Christopher King, Founder & CEO of Eaglebrook Advisors, a tech-driven investment manager that provides independent financial advisors with streamlined, secure, and compliant access to bitcoin and digital assets. Originally involved in bitcoin and digital assets in 2014, Christopher transitioned into the crypto industry full-time in 2018 as a venture capital investor at Morgan Creek Capital. During this time, he noticed a gap in the market between independent RIAs and digital asset investments. In 2019, he founded Eaglebrook Advisors to bridge the gap between the digital asset market and the wealth management industry. Christopher talks with Rusty and Robyn about why investors should consider adding digital assets to their portfolios, how they are allocated, and his outlook on bitcoin over the next 10 years. Key Takeaways [02:45] - An overview of Chris's career and what inspired him to build Eaglebrook Advisors. [06:26] - How the argument for digital assets has changed over the last year. [12:15] - How investors are allocating to digital asset classes. [14:09] - Chris' investment strategy in digital assets. [17:49] - Chris' advice for those who are new to the digital asset space. [20:44] - Chris' view on whether bitcoin is going to become a less risky asset in the future. [22:21] - What prevents some financial advisors from investing in digital assets? [25:04] - Are crypto benefits not as great as people think? [27:13] - Conclusions from “The Bitcoin Market Cycle” report. [30:54] - The impact of rising rates on cryptocurrencies. [33:46] - Takeaways from President Biden's Executive Order on Ensuring Responsible Development of Digital Assets. [34:59] - Chris' outlook on Bitcoin over the next 10 years. [40:47] - Chris' take on investing in digital asset companies rather than digital assets themselves. [42:25] - What Chris found surprising about digital asset management. [45:16] - How Chris maintains his physical and mental health to perform at his best. Quotes [03:46] - "There was a very small overlap of people that understood how to build secure compliance, scalable investment solutions, and infrastructure in the digital asset world and people that understood wealth management as well." - Christopher King [10:09] - "There's a lot of interesting applications for NFTs, for decentralized finance, for crypto gaming, and for entertainment that a lot of traditional companies and brands are starting to leverage so they can digitize their products and service in a way that both brings value to the company and brings values to the consumer." - Christopher King [35:49] - "I believe that Bitcoin will reach parity with gold because I think it's a better version of gold. There are a lot of generational preferences and transfer of wealth for people that would rather hold Bitcoin portfolios than gold. Us being in a digitally native world, a lot of the wealth is getting transferred to digitally native generations." - Christopher King Links  Christopher King on LinkedIn Eaglebrook Advisors Eaglebrook Advisors on LinkedIn Eaglebrook Advisors on Twitter Fortunate Son by Creedence Clearwater Revival Merrill Lynch Orion Advisor Solutions Addepar Fidelity Investments State Street Morgan Stanley Tesla  Goldman Sachs BlackRock BNY Mellon The Bitcoin Market Cycle Coinbase The Bitcoin Standard: The Decentralized Alternative to Central Banking Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond Own The Internet - Not Boring by Packy McCormick On the Brink with Castle Island Ventures Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0566-OPS-4/5/2022

    Why Lobbying Is A Great Investment Strategy with Courtney Rosenberger

    Play Episode Listen Later Apr 12, 2022 32:32


    Lobbying is a necessary part of the political process and a powerful tool for organizations and businesses alike. If done correctly, it can be an important investment strategy as well. In today's episode, Rusty and Robyn talk with Courtney Rosenberger, Managing Director of Policy Research at Strategas Securities, a registered investment advisor specializing in macro thematic investing. In her role, Courtney directs Strategas' policy research efforts. This involves the construction, maintenance, and analysis of Strategas' equity portfolios based on public policy themes. Courtney also serves as the lead portfolio analyst for Strategas Asset Management's widely followed Policy Opportunities Portfolio. Courtney talks with Rusty and Robyn about what the Strategas Policy Opportunities Portfolio is all about, why lobbying can be a powerful investment tool, as well as how to encourage women to pursue careers in investing. Key Takeaways [03:47] - What attracted Courtney to the world of investing. [04:50] - What the Strategas Policy Opportunities Portfolio is about. [08:02] - The dominant themes of Strategas Policy Opportunities Portfolio.  [13:16] - The market environment that best suits lobbying strategy. [14:50] - A detailed overview of lobbying and why it is important. [18:18] - The challenges women face in the investment industry. [21:54] - What can be done to encourage women to pursue careers in investing. [24:40] - What makes a good portfolio analyst. [26:50] - How Courtney maintains her physical and mental health. Quotes [06:28] - "Lobbying is not just about trying to make sure the government doesn't have a negative impact on our business. It's also about trying to position yourself for a potential positive benefit." - Courtney Rosenberger [18:52] - "I think that the combination of both societal changes and perceptions, as well as the industry really realizing the value that women can bring to strategies, I think we're really moving in the right direction. I know a lot of great women who are rising up in their companies and they're game-changers for the industry." - Courtney Rosenberger [23:52] - "If we were to talk about finance more in terms of the decision-making processes and the fact that it isn't just a purely mathematical grind every day punching numbers into a keyboard, you would attract a lot more people, not just women. I think you would get a lot more people with different interests and different skill sets." - Courtney Rosenberger Links  Courtney Rosenberger on LinkedIn High Hopes by Panic! At the Disco Daniel Clifton Strategas Research Partners Lobbying As An Investment Tool James Bessen Boston University School of Law The Daily Punch Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0461-OPS-3/16/2022

    Investment Strategies That Work In Highly Volatile Markets with David Sherman

    Play Episode Listen Later Apr 5, 2022 62:26


    Investing takes many forms. For most people, it is a way to grow their money and protect their financial future. This means that they are more likely to invest in things they are comfortable with and believe will give them the best return on investment. But when it comes to diversification, what are the best strategies? In today's episode, Rusty talks with David Sherman, President of Cohanzick Management and Founder & Portfolio Manager of CrossingBridge Advisors, an investment management firm specializing in ultra-short and low duration strategies, including special purpose acquisition companies (SPACs). David talks with Rusty about the current market environment, particularly the high yield bond market, what investors should know about SPACs, and what the true risk-free investment rate is. Key Takeaways [01:54] - David's role at CrossingBridge Advisors. [04:27] - What makes David's Global Value Investing class interesting. [07:14] - What distinguishes his students from one another. [09:15] - What qualifications David seeks in an analyst. [12:07] - How the current market conditions affect the global economy. [15:40] - Factors that influence David's investment decisions. [20:12] - His perspective on high yield as an asset class. [24:03] - How he manages the tail risk of high yield assets. [28:07] - Are high yield bonds a good inflation hedge?  [30:19] - What investors need to know about investment grade bonds. [31:38] - SPACs: What they are and why investors and financial advisors should care. [40:03] - How investors are allocating to SPACs. [45:44] - What the true risk-free rate is for most investors. [48:04] - The qualifications of a good portfolio manager. [53:44] - How David personally invests his money. [56:46] - What David does to maintain his mental and physical health. Quotes [20:58] - "I think people have a core belief, a DNA of what makes them comfortable. And they only invest the best when they do things they are comfortable with. When you're not making money on things you're not comfortable with, it's just not a good psychological environment." - David Sherman [25:44] - "Most high yield doesn't have a long tail risk. Most high yield is five years or less in maturity. You can say that's a lot of tail risk but that's not nearly what it used to be. A lot of high yield and leveraged loans have certain covenants like change of control provisions if a company gets acquired which investment grade bonds don't, typically." - David Sherman [52:47] - “People underperform and outperform at various times depending on the economic environment or on the product cycle. And certain products are more opportunistic at certain times. There are a lot of good distressed investors, there's just not a lot of good product right now. I would much rather have a mediocre distressed investor with a lot of product that's cheap, who's disciplined, than a great distressed investor who's clever by half who is a little less disciplined and there's not enough product." - David Sherman Links  David Sherman on LinkedIn David Sherman Email Don't Let Me Misunderstood by The Animals CrossingBridge Advisors CrossingBridge Fund Overview Cohanzick Management Orion Advisor Solutions Leucadia National Corporation (now Jefferies Financial Group) Washington University in St. Louis The Predators' Ball by Connie Bruck Michael Milken James B. Rosenwald III Freddie Mac Brinker Capital Live Oak Acquisition Corp RMG Acquisition Corp SPAC Informer SPAX Ken Griffin Seth Klarman CrossingBridge Pre-Merger SPAC ETF Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0540-OPS-3/29/2022

    Marketing and Branding Strategies That Work with Manish Khatta

    Play Episode Listen Later Mar 29, 2022 28:08


    Marketing is a critical piece of any business. It is the function that focuses on bringing awareness and interest to a company, its products, and services. When done correctly, marketing can help a business achieve incredible results.  In this episode, Rusty and Robyn talk with Manish Khatta, CEO & CIO of Potomac Fund Management, a boutique investment strategy firm for financial advisors. Manish is a quant, a true math geek. He has spent his career creating and refining trading strategies built on mathematical computations and number crunching. He is a lifelong Potomac employee who started with the firm after college and programmed the initial work behind Potomac's mechanical trading systems. Manish is a staunch believer that investment risk is something that can be contained and conquered using quantitative trading systems. Manish talks with Rusty and Robyn about how Potomac Fund Management helps financial advisors, the value of marketing, and what marketing and branding strategies he uses on social media. Key Takeaways [02:56] - What Potomac offers financial advisors. [04:00] - How Potomac deals with volatile markets. [06:01] - How Manish uses technical analysis in decision-making and risk management processes. [09:39] - What 'build in public' means in asset management. [11:07] - Marketing and branding strategies Manish employs on social media. [15:01] - Potomac's motivation and goals for producing content. [17:24] - What the 'Profound Industry Maker and Player Awards' is all about. [19:30] - Potomac's most popular YouTube video. [21:17] - How Manish invests for himself and his family. [22:42] - How Manish maintains his physical and mental health to stay on top of the game. [25:29] - Manish's top five favorite podcasts. Quotes [06:06] - "We build everything through indicators, quant indicators. We're not just looking at charts and deciding subjectively. It's based on numbers." - Manish Khatta [08:50] - "Part of the culture that permeates our entire firm is just being transparent and brutally transparent to the point where I could come across as very abrasive because I'm very forward. I literally don't have time to beat around the bush. I think that's the best way to run a business. I think that's the best way to run an asset management firm " - Manish Khatta Links  Manish Khatta on LinkedIn Vibe by Diljit Dosanjh Christopher Norton Potomac Fund Management Potomac Fund Management on Twitter The Conquer Risk Podcast The Conquer Risk Podcast on YouTube Wu-Tang Clan PIMP Awards Gary Vaynerchuck The Bill Simmons Podcast Pivot The Compound and Friends Animal Spirits Podcast The GaryVee Audio Experience Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0485-OPS-3/21/2022

    Megatrends: The Biggest Trends Shaping Our Future with Jeff Spiegel

    Play Episode Listen Later Mar 22, 2022 38:15


    New technologies, economic shifts, demographic changes, urbanization, and climate change are global trends that have a significant impact on society and the economy. They are also shaping the way people invest their money. While these megatrends offer investors a great way to tap into new markets and opportunities, how can they be effectively incorporated into portfolios? In this episode, Rusty and Robyn talk with Jeff Spiegel, Director, US Head of iShares Megatrend, Sector and International ETFs at BlackRock, a global asset manager and technology provider. At BlackRock, Jeff manages product, sales, and marketing for the Megatrend and International franchises.  In this episode, Jeff talks with Rusty and Robyn about megatrend investing strategy, the general guidelines for incorporating megatrends into a portfolio, and the top three investment themes that investors need to keep an eye on in 2022. Key Takeaways [03:49] - What is a megatrend investing strategy? [05:39] - The role of technological breakthroughs in megatrend investing. [06:47] - How demographics and social change fit into the five megatrends. [10:23] - The difference between personalized medicine and precision medicine. [11:43] - Why rapid urbanization is a topic of interest today. [13:08] - How climate change and resource scarcity are both part of the megatrends. [15:00] - What investors should know about emerging global wealth. [16:39] - How thematic investing has performed over the past couple of years. [21:05] - How iShares views megatrend ETF returns and risks. [23:59] - General guidelines for incorporating megatrends into a portfolio. [27:29] - The top three investment themes that investors need to keep an eye on in 2022. [32:28] - How Jeff's knowledge and expertise influence his personal investing. [33:46] - How Jeff maintains his physical and mental health. Quotes [24:03] - "A great investor, a great financial advisor, or a great institutional investor who's thinking holistically about their portfolio starts with asset allocation. That's the name of the game in terms of the overall most important determinant of the returns in your portfolio." - Jeff Spiegel [25:41] - "The most thoughtful way to incorporate megatrends into a portfolio is to actually just start a portfolio or pick the megatrends in a way that keeps your intended asset allocation in line. Don't take unintended bets in technology, on size, in sector or geography just by adding those megatrends securities in." - Jeff Spiegel Links  Jeff Spiegel on LinkedIn iShares Morningstar BlackRock I'm Not Like Everybody Else by The Kinks New York, New York by Frank Sinatra Invest in Innovation with Thematic ETFs iShares Exponential Technologies ETF IHAK | iShares Cybersecurity and Tech ETF ICLN |iShares Global Clean Energy ETF XT | iShares Exponential Technologies ETF The Signal and the Noise by Nate Silver Slimed! An Oral History of Nickelodeon's Golden Age How AI Conquered Poker The Bid Podcast by BlackRock 23andMe Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0431-OPS-3/9/2022

    Balancing Risk In Uncertain Times with Kenneth Sleeper

    Play Episode Listen Later Mar 15, 2022 28:28


    Global markets have been experiencing a lot of volatility lately, leaving many investors wondering how to respond. What strategies are successful money managers using to protect their clients' investments? In today's episode, Rusty and Robyn talk with Kenneth Sleeper, Co-Founder, Co-Managing Director, and Portfolio Manager at Ocean Park Asset Management, a firm with a unique investment approach that limits downside risk and delivers satisfying returns. Before co-founding Sierra Investment Management (parent company of Ocean Park Asset Management) in 1987, Kenneth applied his extensive background in statistical and computer applications to develop and refine computerized techniques for reducing downside risk. In his current roles at Ocean Park Asset Management, Kenneth jointly oversees all aspects of the organization's activities, including asset management, research, and client relationships. He utilizes his experience to help create productive investment solutions for clients so they can retire safely and successfully.  Kenneth talks with Rusty and Robyn about how successful money managers are responding to volatility, how investors can balance risk in uncertain times, and the biggest problems people face when it comes to investing. Key Takeaways [03:00] - What asset managers are responsible for. [05:05] - Kenneth's extensive experience in the investment management industry. [10:08] - How seasoned asset managers navigate the market in turbulent and volatile times. [14:36] - How the balanced risk model works. [16:57] - What keeps Kenneth's physical and mental health in peak condition. [22:27] - One of the biggest problems people face when it comes to investing. Quotes [03:00] - "We have to manage our portfolios both in good times and bad times, times when the markets are just trending uninterrupted for months and months, and then periods like this, where there's extreme volatility. We're still responsible for managing the portfolios every day. Every day the markets are open. We have to be doing that and we don't get a rest to think about what must be done." - Kenneth Sleeper [04:30] - "If we didn't have a process, if we didn't have discipline, where would we be? Where would our clients be? It's even more important during this period of volatility." - Kenneth Sleeper [22:27] - "I think the biggest problem investment people have is having a mindset that doesn't make them open to change, that doesn't make them open to what can happen moving outside of their comfort zone." - Kenneth Sleeper  Links  Kenneth Sleeper Ocean Park Asset Management Sierra Investment Management I Won't Back Down by Tom Petty Skip Schweiss Fiserv TD Ameritrade Steven Wilkes National Geographic Market Wizards by Jack Schwager The Black Swan by Nassim Nicholas Taleb Mania, Panics, and Crashes by Charles P. Kindleberger Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0403-OPS-3/2/2022

    Hedging Against Inflation, and Preparing for a Potential Bear Market with Eben Burr

    Play Episode Listen Later Mar 8, 2022 45:33


    In this episode, Rusty and Robyn talk with Eben Burr, President of Toews Asset Management. Eben came to the financial industry with an unusual background. With degrees in architectural history and product design, he studied architecture in Paris, designed products, and worked in NYC real estate market, before eventually landing at Toews. That said, the common thread throughout Eben's career has been a focus on user experience — a skill that turned out to be a huge asset at Toews.  Eben talks with Rusty and Robyn about preparing for a potential bear market,  hedging portfolios against inflation, and bringing introspection to investing. Key Takeaways [06:45] - Are we in a superbubble? [10:52] - Are advisors ready for a bear market in the stocks? [15:58] - Some evidence-based findings on inflation. [19:30] - What's the hedge equity approach? [24:47] - Keeping up with quick volatility and market downdraft. [26:14] - Advice on unconstrained fixed income strategies. [27:48] - The importance of behavioral finance. [30:50] - A balance of empathy, integrity, and confidence. [32:54] - Why introspection is underrated. [34:54] - Eben's personal investing practices. [37:23] - Eben's book and podcast recommendations. Quotes [27:13] - “We've gotten so complacent with thinking about S&P large caps that we no longer have this idea of true diversification, where there's intentionally something underperforming, right? There's intentionally something not going well.” - Eben Burr [29:14] - “Seeing someone really compelling at a conference is not likely to change your behavior. There is a deep, deep gulf between inspiration and implementation. So we're working every day with advisors to help them improve their communication, portfolio construction (which is really important in behavior), and implement structure so that the advisor practice is really embracing behavioral change on all levels. Really you need to look at things like client delight and retention, as well as just their understanding. All those things come into play.” - Eben Burr [33:26] - “Know your strengths and weaknesses. I mean, introspection, I think is so fantastically underrated in American society. You know, we're amazing doers as Americans, right? We're just like, give me something to do and I will do it to death but don't ask me to think about it after I've done it. Cause I don't want to do that.” - Eben Burr Links  Eben Burr on LinkedIn Toews Asset Management "The IVth Crusade" by Bolt Thrower Ol'e Nessie by Mastodon Rise Above by Black Flag Jeremy Grantham Super Bubble Comments Calling a Super Bubble: Front Row With Jeremy Grantham | YouTube ‘SNL': Pete Davidson, Jack Harlow Deliver Eminem-Inspired Rap Explaining NFTs | RollingStone Behavioral Investing Institute Brian Portnoy Advisor Communication for Bubbles and Market Crises Toews Economic and Capital Markets Update 1Q22 Importance of Emotional Intelligence Attention Robinhood power users: Most day traders lose money by Bob Pisani | CNBC Cocoa Barn NYC  Odd Lots Podcast Standard Deviations Podcast Makers and Takers: The Rise of Finance and the Fall of American Business by Rana Foroohar Alexander Hamilton: A Life by Willard Sterne Randall Downtown by Pete Hamill The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny by William Strauss Blast Beats The 10 best fictional architects | The Guardian Meditation Super Bubble Bubble Gum S&P 500 L'Ecole Bleue Monty Python The Towering Inferno Fountainhead Wesley Snipes Paul Newman John Cleese The history of inflation in the United States Investor Behavior in a Market Crisis Investments and Wealth Monitor Toews Agility Shares ETF's Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0348-OPS-2/23/2022

    How to Build Global Multi-Asset Income Portfolios with Justin Christofel

    Play Episode Listen Later Mar 1, 2022 34:30


    In this episode, Rusty and Robyn talk with Justin Christofel, Portfolio Manager at BlackRock.  For more than a decade, Justin has been overseeing and managing income-oriented multi-asset portfolios. His focus is to generate a consistent level of cash flow for clients, particularly for those who are living through retirement. Justin talks with Rusty and Robyn about active management strategies, the challenge of measuring volatility for the investing population, and the need for a disciplined and methodical investing approach during highly inflationary periods. Key Takeaways [01:19] - COVID, tech stocks, and the Fed's actions toward inflation. [02:10] - The state of the labor economy.  [05:37] - The difference between CFA and CA designations. [07:05] - What's the best way to build a portfolio? [11:10] - How can investors adjust their portfolios according to how inflation will move? [14:53] - Learning from active management strategies at BlackRock. [17:39] - Domestic vs global exposure of investment portfolios. [19:11] - Is targeting an absolute yield viable? [20:56] - Justin's outlook on the economy. [23:49] - What makes a good investment manager? [26:05] - The importance of psychology in finance. [27:34] - Why boring return generators are better most of the time. Quotes [15:45] - “We're trying to hit singles and doubles consistently for clients. We're not trying to hit triples and home runs. And we're certainly trying hard not to strike out. We want to get on base all the time.” - Justin Christofel [22:19] - “A little bit of volatility in the short run begets a much healthier backdrop for taking risk over time. I think continuing to run pretty high allocations to equities focused more so on value and dividend orientations, as opposed to the sexier growth stuff that's worked over the last three to five years makes a lot of sense.” - Justin Christofel [26:51] - “As much as we all like to think that there's a science to investing, that having a great process or focusing on the fundamentals and valuations will lead to success, I think perhaps equally important is managing emotions, and kind of combating the falsehoods and the biases and the tricks that our minds can play on us.” - Justin Christofel Links  Justin Christofel on LinkedIn BlackRock Welcome To The Jungle by Guns N' Roses Rain Is A Good Thing by Luke Bryan S&P 500 Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing by Joel Tillinghast Bloomberg  Iowa Hawkeyes Iowa State Cyclones Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0260-OPS-2/9/2022

    Managing Investment Risks through ETFs with John Davi

    Play Episode Listen Later Feb 22, 2022 41:29


    When it comes to building an investment portfolio, it's important to have a diversified mix of assets in order to reduce risk. While there are a number of different options to choose from, Exchange-Traded Funds (ETFs) can be an attractive choice for investors looking to add some diversity.  How can ETFs be a low-risk option for diversifying portfolios and why might they be a good option for you? In this episode, Rusty and Robyn talk with John Davi, Founder, CEO, and Chief Investment Officer of Astoria Portfolio Advisors, an investment management firm that specializes in research-driven, cross-asset, ETF, and thematic equity portfolio construction. John Davi is an award-winning research strategist and has more than 20 years of experience in macro ETF strategy, quantitative research, and portfolio construction. Prior to founding Astoria, he was the head of Morgan Stanley's Institutional ETF Content and advised many of the world's largest hedge funds and asset managers on ETF portfolio construction. John is a regular contributor to CNBC, Bloomberg, and other media outlets. He was recognized by Bloomberg as an “ETF Master Chef”. John talks with Rusty and Robyn about what makes ETFs attractive as investment vehicles, how his company addresses inflation, and how he uses social media to engage with his audience. Key Takeaways [02:18] - The story behind John's walk-up song. [03:33] - What led John to start his own company. [05:04] - What makes ETFs attractive as investment vehicles. [09:16] - Why some people think direct indexing could kill ETFs. [11:31] - John's market outlook for 2022. [14:30] - The key differences to look for in 2022. [16:06] - How John and his team plan to tackle inflation. [19:08] - How ETF PPI came about. [22:13] - John's recommendation on how to allocate equity using PPI. [24:35] - John's perspective on traditional fixed income and how he uses it. [28:05] - How John uses social media platforms to reach his audience. [29:51] - What qualifies someone to become a member of John's team. [31:21] - What makes a good investment manager. [32:05] - What makes a good financial advisor. [34:10] - John's investment strategy for himself and for his family. [36:40] - What John does to stay at the top of his game. Quotes [05:26] - "Over time, ETFs proved that they're tax-efficient, they're liquid. You can build a portfolio and you can basically replicate any risk-return profile that you want." - John Davi [18:34] - "What we're seeing now in terms of inflation and all the crosscurrents between COVID is just something that we haven't seen in a long period of time. So, you want to have a strategy for inflation and then you want to embrace it. And you want to look for sectors that benefit from higher inflation. Don't be scared of it, try to embrace it and build a portfolio that can actually benefit from it." - John Davi [20:13] - "Different asset classes perform at different stages of the inflation cycle. So cyclical stocks tend to be early, commodities tend to be a little bit later. So, we think that there's value in all three of those asset classes, but you want to tilt more toward the four sectors - banks, energy, materials, and industrials." - John Davi  Links  John Davi on LinkedIn John Davi on Twitter Astoria Portfolio Advisors Sailing by Christopher Cross Morgan Stanley Merrill Lynch VanEck Matthew Santini State Street Global Advisors Access Investments CNBC Bloomberg Bob Pisani Bridgewater Vanguard Warren Buffet Orangetheory Fitness Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0244-OPS-2/8/2022

    Managing Downside Risk, and Protecting Your Investments with Geremy van Arkel

    Play Episode Listen Later Feb 15, 2022 63:05


    Risk is inherent in any investment. It is therefore crucial to plan your investment portfolio in a way that protects you against losses. Without a solid downside risk management strategy in place, you are exposing yourself to unnecessary losses and financial instability. Taking steps to protect yourself from losses can help ensure that your portfolio remains healthy and profitable, even in difficult market conditions. In today's episode, Rusty talks with Geremy van Arkel, Principal and Director of Strategies at Frontier Asset Management, an independent national asset manager that supports and manages strategies for the clients of investment advisors. With more than 25 years of extensive experience working with national accounts as well as with financial advisors and their clients, Geremy has developed expertise in managing global allocation portfolios, performing manager due diligence, and working with advisors and enterprise clients. As a member of Frontier's Investment Committee, he is an expert in mutual fund selection, asset allocation, and portfolio optimization. Rusty talks with Geremy about the importance of downside risk management, why Frontier Asset Management puts a lot of emphasis on actively managed mutual funds, and how international and emerging markets are becoming a serious part of the investment opportunity set. Key Takeaways [03:44] - How Geremy began his asset management career. [05:17] - What Frontier Asset Management is all about. [07:11] - Why risks are like a black swan. [11:57] - What led Geremy to establish his firm in Sheridan, Wyoming. [14:53] - Overview of the Deconstructing Alpha Podcast. [17:14] - How Frontier Asset Management views valuation. [21:29] - Frontier's preferred valuation metric. [28:24] - Why Frontier puts a lot of emphasis on actively managed mutual funds. [34:42] - Frontier's approach to identifying superior, actively managed funds. [38:36] - The reasons for low interest rates. [43:25] - Why values are great in emerging markets. [48:22] - What makes a good investment manager or investment professional. [51:58] - Qualities that make a good financial advisor. [53:56] - How Geremy invests for himself and his family. [56:23] - How Geremy ensures a high level of performance. Quotes [07:19] - "Risk in the modern markets happens like a black swan. We don't get these obvious signs that it is happening. If you just look at all the risks that have occurred in my entire career, the last 30 years, every risk event was a complete surprise." - Geremy van Arkel [15:17] - “I have a deep affection for the management and the art and science that security selection managers bring to the table. I understand the difference between different types of stocks and different types of exposures within a portfolio. And I believe in this day of indexing, it's almost like a lost art." - Geremy van Arkel [49:00] - "You have to be unafraid to be wrong and alone in some areas. So, the key is understanding history and then being able to look forward and balancing all the opportunity sets that are in front of you. Not just betting on what you think will happen, but really balancing multiple outcomes to end up being on the right side of things." - Geremy van Arkel Links  Geremy van Arkel on LinkedIn Radiohead Sabotage by Beastie Boys The Sound of Winter by Bush Intergalactic by Beastie Boys Machinehead by Bush The Chemicals Between Us by Bush Optima Fund Management Frontier Asset Management Deconstructing Alpha Podcast MSCI Morningstar Manias, Panics, and Crashes. A History of Financial Crises Extraordinary Popular Delusions and the Madness of Crowds Envestnet Orion Advisor Solutions The Mint Bar Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0243-OPS-2/8/2022

    The Importance of Behavioral Finance, and the Future of the Investment Industry with Noreen Beaman

    Play Episode Listen Later Feb 8, 2022 26:10


    Firms and investment professionals must keep up. Tech innovations, demographic shifts, redefined client-advisor engagement—you name it. The future of the investment management industry is promising. But, how can the industry keep its vision to provide continuous better outcomes for clients? In this episode, Rusty and Robyn talk with Noreen Beaman, President at Orion Advisor Solutions.  Aside from oversight of the firm's operations, Noreen serves as a leader and a mentor to almost 1200 investment professionals at Orion. Her focus is mainly on the firm's investments and sales and marketing operations. Prior to that, Noreen was the Founding Partner and CEO at Brinker Capital where she offered her expertise for 29 years Noreen talks with Rusty and Robyn about the importance of behavioral finance, the strategies of being a successful professional, and the future of Orion and the entire investment industry. Key Takeaways [04:28] -  What is the secret to being a successful investment firm? [05:45] - Noreen's industry forecast. [07:37] - What Noreen is most excited about for Orion's future. [08:46] - Why mentors are so important. [11:40] - How to bridge the gender gap in finance. [13:47] - The effect of financial advising on Noreen's life. [15:03] - How a financial advisor can land a dream job in the advisory space. [16:21] - Noreen's tip for financial advisors: Listen. [17:32] - Noreen's fiction and non-fiction reading list. [20:23] - How to take the first step as an investment professional. [21:21] - Essential books on financial advising. [22:25] - Noreen's podcast recommendations. [23:21] - How the president of an investment firm stays on top of every aspect of her life. Quotes [06:13] - “The consumer today and the end investor is smarter than they've ever been because they have access to so much information. They're going to drive for continued personalization. And I'm a big believer in that. We need to be ahead of that curve, thinking about what they are going to want.” - @nbeaman [13:15] - “There are women in our organization that have had the opportunity to be successful. And now we need to continue to mentor and bring the next generation of young women into this industry.” - @nbeaman [15:40] - “This is not an easy business. I would say it's not for the faint of heart. So this is not an easy job to have. It's a lot of responsibility, but going after that with the right attitude and being resilient, and being able to weather those storms, when the markets go in a direction that you might not have expected them to—it's important to have an open mind.” - @nbeaman Links  Noreen Beaman on Twitter Noreen Beaman on LinkedIn Orion Advisor Solutions Born To Run by Bruce Springsteen Ernst and Young St. Peter's University Orion's 3D Risk Profile Chuck Widger Multipliers: How the Best Leaders Make Everyone Smarter by Liz Wiseman What Great Managers Do by Marcus Buckingham | Harvard Business Review Money Management Institute Harry Truman What Got You Here Won't Get You There: How Successful People Become Even More Successful by Marshall Goldsmith The Lincoln Highway by Amor Towles Charlotte's Web by E.B White Jane Eyre by Charlotte Bronte Man's Search For Meaning by Viktor E. Frankl The House of Gucci: A Sensational Story of Murder, Madness, Glamour, and Greed by Sara Gay Forden House of Gucci (2021) The Intelligent Investor by Benjamin Graham The Behavioral Investor by Daniel Crosby Storytelling For Financial Advisors: How Top Producers Sell by Scott West Standard Deviations with Dr. Daniel Crosby Podcast Eric Clarke Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0150-OPS-1/24/2022

    Leveraging Tech for Better Investor Outcomes with Eric Clarke

    Play Episode Listen Later Feb 1, 2022 30:56


    In this episode, Rusty talks with Eric Clarke, CEO of Orion Advisor Services. Eric is a high-profile industry speaker and advocate, and has won numerous industry awards. As Orion's CEO, he's focused on creating a suite of technology that can fully transform every client-advisor journey for the better. Eric talks with Rusty about how tech integrations can help build meaningful and seamless client-investor connections, and what the coming months and years look like for Orion and the industry. Key Takeaways [03:46] - Fintech in 2022, according to Eric Clarke. [05:23] - Exploring new dimensions after the merger with Brinker Capital. [06:41] - Implementing tools to build better relationships between advisors and investors. [08:43] - Evolving value propositions in the fintech industry. [10:53] - How does a firm keep productivity high in a remote-working world? [13:41] - Orion's acquisition of Brinker Capital. [15:52] - Why is pays to stick with your long-term investing strategy. [19:35] - Eric's first investment story. [20:56] - Eric's insights on digital assets and cryptocurrency. [23:58] - A CEO's morning routine. [27:59] - What's in store for Orion Advisor Services in 2022? Quotes [07:18] - “The basis of all great relationships, at least I believe, are founded on trust. And being able to help the advisor understand the investor in at a more meaningful level is something that we think will set the relationship off to a good start and help the investor better respond to the coaching that they are receiving from all these great advisors that we work with.” - Eric Clarke [17:29] - “Obviously, as an investor, every time you can have that long-term perspective and not panic and stick with your strategy, you're rewarded for that. And I'm a believer that whether that's a strategic or tactical or even an alternative strategy, if you stick with it over the long-term, odds are you'll be rewarded for that and it'll be worth it.” - Eric Clarke [28:49] - “What we're focused on here in 2022 is all about connecting that experience through technology integrations, through seamless user experience, helping our advisors connect with their client in a more meaningful, seamless way and using technology to efficiently make that happen.” - Eric Clarke Links  Email Eric Eric on LinkedIn Orion Advisor Services Beautiful Day by U2 Standard Deviations with Dr. Daniel Crosby Podcast: Eric Clarke - Driving Better Investor Behavior Orion's 3D Risk Profile Workplace from Meta Noreen Beaman Marriott Ric Edelman's The Truth About Crypto Manish Khatta Netflix Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

    Effective Mentoring and Proactive Tax Management with Jamie Susanin

    Play Episode Listen Later Jan 25, 2022 39:55


    In this episode, Rusty and Robyn talk with Jamie Susanin, portfolio manager at Brinker Capital Investments, LLC. At an early age, Jamie was already learning about the basics and even foundational skills in finance from her then-advisor grandfather. While Jamie was in sales, one of the (toughest) first clients she served was her grandfather.  There was pressure, but most of all there was a lot of mentoring and guidance. Currently, Jamie is part of the Tax Management Team at Orion- Brinker. Applying what she has learned from her mentor-grandfather, she helps clients keep unrealized gains invested within their portfolio through effective tax management. Jamie discusses with Rusty and Robyn the impact of investing in yourself, the importance of having a mentor, and the true value of tax management. Key Takeaways [01:16] - The rise of long-term interest rates. [01:56] - The current state of labor markets. [06:01] -  How Jamie Susanin started her journey into the world of finance. [08:05] - Who are Jamie's key mentors? [10:50] - Removing the intimidation factor in the workplace. [11:00] - Why perception is different from reality. [13:13] - What it's like having your grandfather as a client. [14:35] - How to kickstart your career in the investment industry. [15:36] - Finding ways to creatively invest in yourself. [18:02] - How the industry can create equal opportunities for men and women. [20:01] - Why learn about finance early on? [24:57] - What is direct indexing? [27:25] - The true value of tax management. [28:13] - Tax alpha vs. tax savings. [34:17] - How Jamie stays on top of her health and performance. Quotes [15:44] - “What's very important is this concept of investing in yourself. And that looks different for different people and you can go about it in different ways. One of which is pursuing a designation or postgraduate education or something along those lines. But there are other soft skills that are really important in the industry as well.” - Jamie Susanin [10:18] - “It can be hard in the industry to feel comfortable asking questions and challenging things. And having someone to go to for these seemingly dumb questions got me comfortable being someone who continually asks questions and challenges what's going on. That was so helpful for my professional development. And it's definitely something that I've carried into when I'm considering being a mentor for other people as well.” - Jamie Susanin [29:09] - “The other part of that tax savings number that's very important is the upfront tax savings when we do that tax transition of a portfolio. So the fact that a client comes to us, we're able to keep a lot of their unrealized gains invested within the portfolio—that's a value added to them since day one.” - Jamie Susanin Links  Email Jaime Brinker Capital Investments Carson Group Tax Managed Solution - Orion Household Surveys - Census Bureau Current Employment Statistics - Bureau of Labor Statistics Where Is The Love by Black Eyed Peas Dartmouth College Bank of America GlaxoSmithKline Stocks Wall Street Journal Podcasts Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0077-OPS-1/13/2022

    Thematic Investing and 2022 Investing Strategies with Kim Arthur

    Play Episode Listen Later Jan 18, 2022 23:28


    The start of the year is always interesting for investors and advisors. In this episode, Rusty and Robyn talk with Kim Arthur, President and CEO of Main Management, LLC. Kim has been in the finance sector for 35 years. At Main Management, he's laser-focused on delivering beta plus strategies to clients. According to Kim, investors should keep more of their returns by having control over costs and taxes. Kim talks with Rusty and Robyn about thematic investing, active strategies, and insightful investment predictions for 2022. Key Takeaways [01:03] - Tougher Federal Reserve, higher interest rates, and higher cases in COVID. [05:39] - Stock market return estimate in 2022. [06:40] - Kim Arthur's insights on inflation. [08:04] - How investors can diversify equity risk. [10:08] - What is thematic investing? [11:44] - What's the rule of thumb when portioning your investment portfolio? [12:29] - What's the active sector rotation strategy? [14:17] - The promise of international stocks to outperform in 2022. [15:23] - What negative surprises might come in 2022? [19:32] - Resources for investors and advisors. Quotes [03:54] - “If you constantly put the client first and you deliver exceptional service, I think you can win in this game. If you lose sight of that, then some bad things happen. And I think the other piece too, that is very important, that hasn't changed is trust. You have to earn the client's trust.” - Kim Arthur [10:37] - “We define thematic as investing in the future. And typically what happens with that is the total addressable market is the portion that the market usually does not get dead right. It typically ends up being much larger than they expect. So what ends up happening is the return stream is not a straight or it's not a 45 degree line up into the right. It tends to be very stairstep-ish.” - Kim Arthur [18:16] - “I've got four things that I focused on on a daily basis. The first is making sure that I've got that balance with family and work. I think that's very important because that can obviously lower the stress levels. The other three pieces are sleep, nutrition, and exercise.” - Kim Arthur Links  Kim Arthur Main Management AC/DC - Back In Black Candy 0 - The Cars Edward Kelly @loggyrhthm on Twitter Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0070-OPS-1/12/2022

    Smart Ways to Save for Retirement with Brian Dobbis

    Play Episode Listen Later Jan 11, 2022 23:55


    When it comes to retirement, the difficult part is figuring out what retirement plan will work best for you. Many people are afraid to invest their money because they don't know how or where to start. Fortunately, there are lots of options. In today's episode, Rusty and Robyn talk with Brian Dobbis, Director of Retirement Solutions at Lord Abbett.  Having spent 19 years of his professional career carrying out various roles under the retirement umbrella, Brian has lived and breathed retirement.  Being well versed in the industry, he provides clients with smart retirement savings plans tailored to their unique needs. Brian talks with Rusty and Robyn about the ins and outs of Roth IRAs, the best retirement vehicles, and how to save smart for your retirement. Key Takeaways [05:58] - Brian's role at Lord Abbett. [09:15] - How financial advisors help investors prepare for retirement. [11:42] - What you need to know about Roth IRAs. [14:16] - How backdoor Roth IRAs work. [15:28] - How minors can contribute to Roth IRAs. [17:10] - HSAs (Health Savings Accounts): What are they and how do they work. [19:49] - What makes a good financial advisor. Quotes [09:25] - "What I tell the advisors to continue to focus on is taxes. Not only federal and state taxes, but all that I call stealth taxes, all the other things that can impact a retirement account withdrawal." - Brian Dobbis [15:28] - "There is no minimum age to establish a Roth IRA. All that is needed to make a Roth IRA contribution is earned income. We're seeing a lot more teenagers that own businesses. They're entrepreneurial and they're self-employed. As long as they have the earned income, they are eligible to fund a Roth IRA up to the lesser of $6,000 or the amount that they earned for the year." - Brian Dobbis [18:01] - "If you make an HSA contribution, you have a triple tax advantage. You receive a federal and most likely a state tax deduction, your dollars grow tax-deferred, and all your earnings are distributed tax-free for qualified medical expenses." - Brian Dobbis Links  Brian Dobbis on LinkedIn New England Patriots Tampa Bay Buccaneers Dallas Cowboys New York Giants Alive by Pearl Jam American Retirement Association Medicare Reasons to Consider a Roth IRA for Kids Retirement Perspectives: More RMD Changes to Come for 2022 Retirement Perspectives: The Stretch IRA is Not Dead - Yet Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 3128-OPS-12/16/2021

    Thematic Investing: Capitalizing on Trends with Jay Jacobs

    Play Episode Listen Later Jan 4, 2022 27:52


    The world of investing is constantly evolving. The traditional approach of diversifying portfolios is no longer the only way to go. Today, thematic investing is one of the most exciting investment strategies. The popularity of thematic investing continues to skyrocket, and for good reason. It allows investors to invest in themes or sectors that may be performing well now or have the potential for growth in the future based on current trends and market conditions. In today's episode, Rusty and Robyn talk with Jay Jacobs, Head of Research and Strategy at Global X ETFs, about the biggest investing themes of 2022 and how these trends impact the market.  Key Takeaways [03:15] - How Global X formulated the outlook for 2022. [04:46] - The eight major themes of Charting Disruption. [05:46] - What investors need to know about robotics and artificial intelligence. [07:31] - What the future holds for mobility. [08:41] - The future of blockchain, cryptocurrencies, and digital assets. [10:27] - Why climate change is a very complex theme. [12:44] - How the digital economy is becoming a major part of the market economy. [15:49] - Why robotics and artificial intelligence will be a trend in the future. [17:07] - The most overlooked theme for the coming years. [18:48] - The market's response to electric vehicles and infrastructures. [20:47] - Why thematic investing is on the rise. [22:41] - An ideal investment for thematic investing. [23:56] - How Jay maintains a high level of physical and mental performance. Quotes [11:00] - "We're at this inflection point in the world where, especially coming out of the COVID 19 pandemic, I think there's this enhanced sense of collaboration that if we tackle this pandemic, we can tackle the next big challenges for the world. And that certainly is looking like climate change." - Jay Jacobs [13:42] - “What we're seeing in the post-pandemic is that people have shifted to this digital world and are getting more and more comfortable with it. And more of that economy is happening online." - Jay Jacobs [19:14] - "Thematic investing is really done best when focused on long-term trends. Not just taking profits or cutting losses in the short term, but seeing it fully through over the decades that it takes for a theme to fully play out." - Jay Jacobs Links  Jay Jacobs on LinkedIn Jay Jacobs on Twitter All Along the Watchtower with Jimi Hendrix Paul Reed Smith Guitars Marshall Amps Global X ETFs Website Global X ETFs on Twitter Global E ETFs Research Charting Disruption Erik Brynjolfsson Elon Musk Coinbase Costco Grand Theft Auto V Peleton Project Hail Mary The Martian A Gentleman in Moscow Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 3107-OPS-12/14/2021

    The Power of Women in Economic Development with Brie Williams

    Play Episode Listen Later Dec 28, 2021 51:05


    In today's episode, Rusty and Robyn talk with Brie Williams, Vice President and Head of Practice Management at SPDR Exchange Traded Funds. Women make up half of the population, but they are vastly underrepresented in the investment industry.  Traditionally, they have been economically disadvantaged relative to their male counterparts.  In recent years, however, there has been a changing role for women as financial decision-makers. How can financial advisors help women break through the barrier of navigating into the investing world? Rusty and Robyn talk with Brie about the SHEconomy, the changing role of women as financial decision-makers, and how to encourage women to be part of the investment industry. Key Takeaways [3:16] - What attracted Brie to the marketing field. [5:59] - How advertising contributed to her early success. [7:35] - Her role at SPDR Exchange Traded Funds. [10:33] - What the statue of the fearless girl represents. [13:13] - The impact of the fearless girl after four years. [16:06] - How the dynamic is shifting to make women the new face of wealth. [19:12] - Why women's overall experience in the investment industry is less than positive. [25:24] - The unique challenges women investors face. [27:26] - How financial advisors recognize and overcome gender bias. [29:33] - The things advisors should take into account when working with women investors. [33:37] - How traditional male-female partnerships work to make important financial decisions. [36:18] - The impact of the pandemic on women's financial and investment goals. [41:17] -  Strategies to attract more women to careers in investment and financial advice. Quotes [18:34] - "When you have an affluent woman taking over financial decisions in her household, she typically is going to be seeking out a new wealth management relationship to better suit her needs. We currently have a gap in advice when it comes to how we connect with women and we need to close that gap." - Brie Williams [35:34] - "When you can talk about money productively as a couple and truly work together as a team, then you can have a better handle on owning your own worth, owning your family's worth, and are in a much better position to tackle the curveball when life throws it to you." - Brie Williams Links  Brie Williams on LinkedIn Lizzo The Beatles Girl on Fire Southern Methodist University Emerson College Frito-Lay McDonald's Corporation SPDR Exchange Traded Funds State Street Corporation Arnold Worldwide Putnam Investments Money Smart Resources Women's Worth: Finding  Your Financial Confidence Get a Financial Life: Personal Finance in Your Twenties and Thirties The Business of Family: How to Stay Rich for Generations Practice Made (More) Perfect Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 3106-OPS-12/14/2021

    Inflation and the Economy Today with Jeremy Schwartz

    Play Episode Listen Later Dec 21, 2021 35:34


    In an economy characterized by uncertainty, can decentralized finance offer a better solution to protect your money and investments? In today's episode, Rusty and Robyn talk with Jeremy Schwartz, Global Chief Investment Officer at WisdomTree Asset Management. Jeremy had an innate interest in numbers as a kid, and grew up reading the Wall Street Journal and watching stock prices. He began his career as a head research assistant to Wharton finance professor, Jeremy Siegel. Their work, The Future for Investors, has become a key element of WisdomTree. Jeremy talks with Rusty and Robyn about WisdonTree's market outlook, how they are embracing digital assets, and how Jeremy Siegel played a significant role in his career development. Key Takeaways [4:20] - What drew Jeremy to investing. [6:13] - The many roles he's played at WisdomTree. [7:52] - What makes a good research team. [9:46] - What he learned from Jeremy Siegel, personally and professionally. [13:02] - His favorite podcast topics. [15:36] - WisdomTree's current view of the economy and inflation. [18:56] - How long does inflation last and what's the best way to hedge it? [21:09] - Where investors can find real value over the next few years. [24:22] - How WisdomTree works with digital assets. [28:18] - The qualities of a good investment manager. [30:14] - How Jeremy keeps his performance at a high level. Quotes [19:39] - "Equities are the best hedge for inflation. If you look at the 60-year dividend growth on the S&P 500, 5.7% over 60+ years inflation, you've got real growth on top of inflation. On average, the S&P can give you 2% real growth on top of inflation. That's one of the reasons why we think that stocks are the ultimate real assets. " - Jeremy Schwartz [23:59] - "For us, it's more than bitcoin, ether, and exposures, it's trying to tokenize all sorts of assets like treasuries, like gold - have a WisdomTree wallet that these things are operating in. So DeFi to us is something we're investing a lot of resources on." - Jeremy Schwartz Links  Jeremy Schwartz on LinkedIn Jeremy Schwartz on Twitter All In by Lighthouse WisdomTree Asset Management Jeremy Siegel Patrick Harker Liqian Ren SiriusXM 132 Robert Shiller The Future For Investors Stocks For The Long Run 5/E Scott Welch Dynasty Financial Partners Vanguard Behind the Markets Podcast Phil Huber The Allocator's Edge Corey Hoffstein Valmark Financial Group Michael McClary James Bullard Ritholtz Wealth Management Onramp Invest Gemini Myers-Briggs Type Indicator Flirting with Models Podcast Genius Makers Hacking Darwin Basis Points Podcast China of Tomorrow Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 3071-OPS-12/8/2021

    An Unconventional Approach to Building Your Portfolio with Brian Selmo

    Play Episode Listen Later Dec 14, 2021 34:00


    The economy is changing. Markets are shifting. As you make decisions about retirement or other long-term goals, it's important to think about the types of investments that will be appropriate for those goals. How does focusing on conventional investment strategies limit your potential to succeed? In today's episode, Rusty and Robyn talk with Brian Selmo, Partner and Portfolio Manager at First Pacific Advisors (FPA). Prior to joining FPA, Brian was the founder and managing member of Eagle Lake Capital as well as an analyst at Third Avenue Management and Rothschild, Inc. With his extensive experience in the financial services industry, Brian is well versed in formulating strategies that will adapt to the world's ever-changing economy. Brain talks with Rusty and Robyn about FPA Crescent Fund, why it is different from other asset allocation funds, and how it works in the financial markets. Key Takeaways [03:50] - Brian's role at FPA. [06:32] - The qualities FPA looks for in an analyst. [09:42] - What sets Crescent Fund apart from other asset allocation funds. [13:13] - How Crescent Fund manages its three different types of equity investments. [16:23] - Crescent Fund's unique investment strategy. [20:19] - Why FPA's Crescent Fund is more net long than usual. [27:16] - Qualities of a good financial manager. Quotes [10:18] - "We don't start from a position of trying to fit in a box. I think our overarching idea or goal is to treat the fund as if it was 100% of a wealthy family's assets and to manage it accordingly." - Brian Selmo [21:31] - "When we own on average higher-quality businesses, we want to be more fully invested than if you own a portfolio of lower quality, more cyclical businesses at a different point." - Brian Selmo [26:03] - "I think the world is constantly changing and evolving and you have to respond to it as it exists, not try to look at it through the rearview mirror." - Brian Selmo Links  Brian Selmo on FPA Funds  First Pacific Advisors Website Bing Crosby White Christmas  Mark Landecker Steven Romick Modern Finance Podcast Acquired Podcast Kate Murphy You're Not Listening: What You're Missing and Why It Matters Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 3031-OPS-12/1/2021

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