The Phil Bak Podcast

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The Phil Bak Podcast takes you deep into the worlds of economics, investing and entrepreneurship as Phil talks to the innovators who challenge conventional thinking and exploring the narratives that are driving market moves.


    • Jun 21, 2021 LATEST EPISODE
    • infrequent NEW EPISODES
    • 40m AVG DURATION
    • 41 EPISODES


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    Latest episodes from The Phil Bak Podcast

    Matt Hougan: Potato Peelers & DeFi

    Play Episode Listen Later Jun 21, 2021 35:53


    Matt Hougan, CIO of Bitwise Investments, joins the podcast to explain Decentralized Finance (DeFi), decentralized exchanges, Ethereum, stablecoins, smart contracts, breakthrough protocols, Tether's risk and contagion, and how it all ties back to his potato peeler thesis.

    Epsilon Theory: Part Three

    Play Episode Listen Later Jun 7, 2021 46:17


    In this third part of a breathtaking conversation with Ben Hunt we discuss narratives: how they are formed, how they spread, how to identify them, and the impact they have on the world around us.

    Epsilon Theory: Part Two

    Play Episode Listen Later Jun 5, 2021 43:06


    This is the second part of a breathtaking conversation between Ben and Phil about how the financial markets are being turned into political utilities right before our eyes. Ben Hunt is Co-Founder at Second Foundation Partners & author at Epsilon Theory. (Replay from The ETF Experience)

    Epsilon Theory: Part One

    Play Episode Listen Later Jun 4, 2021 39:05


    This is the first part of a breathtaking conversation between Ben and Phil about how the financial markets are being turned into political utilities right before our eyes. Ben Hunt is Co-Founder at Second Foundation Partners & author at Epsilon Theory. (Replay from The ETF Experience)

    Michael Ashton: Inflation

    Play Episode Listen Later May 25, 2021 49:39


    Michael Ashton, Founder of Enduring Investments, joins the podcast to discuss all things inflation: how it is measured, how to analyze it, how to protect your portfolio from it, and how to profit off of it.

    Cathie Wood: Conviction

    Play Episode Listen Later May 18, 2021 51:24


    Catherine Wood and Tom Staudt from Ark Invest join Phil to talk about the early days of Ark Invest and how they built their business. Cathie tells the story of her eureka moment when she had the idea for disrupting the asset management industry. Tom tells us how he met Cathie and ultimately got an offer letter filled with exclamation points!!! Cathie and Tom talk about the early lean years, how the firm pivoted, and how her conviction and confidence in the firm and in her bold calls has never wavered.   [Replay from The ETF Experience]

    Darren Schuringa: Recovery

    Play Episode Listen Later May 7, 2021 42:01


    Darren Schuringa, Founder and CEO of ASYMmetric ETFs, talks about battling his personal demons and persisting through an early career rise-and-fall to re-emerge wiser, healthier, happier, and with a new asset management firm.

    Dan McCabe: Market Structure & Innovation (ETF Experience Replay)

    Play Episode Listen Later Apr 29, 2021 36:29


    Dan McCabe shares his story that began as CEO of a high frequency trading firm to starting product development shop Precidian, including an excruciating twelve year regulatory pause before launching non-transparent ETFs. This episode takes you through decades of innovation in the capital markets.

    Adam Butler: Systematic Investing

    Play Episode Listen Later Apr 23, 2021 51:12


    Adam Butler, CIO of ReSolve Asset Management, tells stories of his career progression and how his investment approach evolved through the years, culminating in a transition to systematic quantitative investing.

    Aaron Brown: True Quant (ETF Experience Replay)

    Play Episode Listen Later Apr 16, 2021 42:12


    Famed quant Aaron Brown, Phil's former professor, joins the show to discuss a wide range of topics, from his teaching style to poker to bitcoin, and more. Highlights include: Professor Brown's unique teaching style How to have an edge at poker Whether factor investing still works Lack of creativity in quant factors The case for bitcoin The disconnect of intrinsic value Pulling the goalie, in hockey, life and business

    Vance Barse: The Freedom Ride

    Play Episode Listen Later Apr 13, 2021 45:58


    Vance Barse joins the podcast to tell the story about how he left the hedge fund world to ride a Harley Davidson across the country, and how he found meaning, purpose, and formulated the vision for starting his company Your Dedicated Fiduciary on that journey.

    Amanda Agati: Repo Madness

    Play Episode Listen Later Apr 5, 2021 39:38


    Amanda Agati joins the show to talk about her recent promotion to CIO of PNC Bank and to give a macro overview of the markets. She explains what is going on in the Repo markets and across the macroeconomic landscape. She discusses what alternative data she uses to understand the markets, what the Fed is doing to depress volatility, whether equities are historically expensive, and more.

    Stephen Sikes: The Retail Revolution

    Play Episode Listen Later Mar 22, 2021 37:01


    Stephen Sikes, COO of Public, joins the podcast to talk retail trading and why the segment is growing exponentially. Stephen explains how payment for order flow works and why Public chose to stop accepting PFOF on their platform. The conversation includes insights into social media, investor education, the difference between investing and gambling, and more.

    Brian Portnoy: Funded Contentment

    Play Episode Listen Later Mar 15, 2021 34:33


    Author, investor and entrepreneur Brian Portnoy joins the podcast to talk financial education, behavioral investing, the concept of funded contentment, and lessons from his new book, How I Invest My Money.

    Julia Carreon: Transforming WealthTech

    Play Episode Listen Later Mar 1, 2021 42:00


    Julia Carreon joins the podcast to talk about her personal journey and how she became a leading voice advocating for financial institutions to better connect to Gen Z. Innovation and technology in financial services Why legacy firms struggle to adapt The coming generational wealth transfer Being self-promotional and out front Lots more

    Eric Balchunas: The ETF Terrordome

    Play Episode Listen Later Feb 9, 2021 53:19


    Eric Balchunas joins for a look at how the ETF industry changed over the years, and whether it remains "the Silicon Valley of finance". The conversation includes: Innovation in the ETF industry The Terrordome (fee war) The rise of Cathie Wood's Ark Invest Measuring Jack Bogle's impact And more

    Mike Green & Eric Balchunas: Price Discovery

    Play Episode Listen Later Feb 5, 2021 42:41


    Bloomberg's Eric Balchunas and Logica Capital's Mike Green join the podcast to debate whether price discovery and fundamentals have disappeared from the markets, and whether ETFs and index investing is to blame.

    Daniel Crosby: Behavioral Finance

    Play Episode Listen Later Jan 25, 2021 39:08


    Dr. Daniel Crosby joins the show to talk behavioral finance, how he merged the fields of psychology and investing, the science of likeability, overcoming fear, his process for book writing, and whether Phil should write a book.

    Mike Alfred: Fintech & Cryptotech

    Play Episode Listen Later Jan 8, 2021 36:03


    Mike Alfred joins the podcast to talk to Phil about his entrepreneurial journey as a two-time founder, his investing ideology, the case for bitcoin and what is next for fintech.

    David Collum: Contrarianism

    Play Episode Listen Later Nov 11, 2020 47:00


    Dave Collum joins the podcast for a provocative conversation about markets, wealth creation and contrarianism versus conformity.

    Greg Martin: Liquid Stock

    Play Episode Listen Later Nov 2, 2020 38:29


      Phil is joined by Greg Martin, founder of Liquid Stock and Archer VC for a conversation about how employees can access liquidity for private company equity and options, private vs public market company valuations, whether late stage VC companies are in a bubble, the future of fintech, and more.  

    Alex Matturri: The Index that Ate the Market

    Play Episode Listen Later Oct 15, 2020 39:08


    Alex Matturri, former CEO of S&P Dow Jones, joins the show for a wide ranging conversation about his career and the growth of index investing. Alex debunks some common myths around index investing and then explains how he built a brand at S&P that led to remarkable growth. the conversation delves into smart beta, ESG investing, the role of the index committee, price discovery and more.

    Darren Riley: Entrepreneurial Ecosystems

    Play Episode Listen Later Sep 17, 2020 34:29


    Darren Riley joins the show to talk about all areas of the entrepreneurial ecosystem, including his work at Endeavor Detroit, his entrepreneurial journey at Rapids Air Quality and his new VC fund, Commune Angels.

    Vince Vitale: Advance CM & JA Stock Market Challenge

    Play Episode Listen Later Sep 9, 2020 43:06


    Phil sits down with Vince Vitale, President of the CFA Society of Detroit and Director of Equity and Alternative Strategy Research at Advance Capital Management for a conversation about the markets and about giving back. They discuss selecting active managers, factor based portfolios and US equity valuations, and then talk about giving back to the community and creating a legacy. Vince announces the stock market challenge - sponsored by the CFA Society of Detroit - and about Junior Achievement of SE Michigan, who the challenge is raising money for. Finally, they talk about persistence and grit and how that drives Vince's career. Register for the stock market challenge here: https://www.jamichigan.org/stock-market-challenge

    Patrick Kelly: Signal Advisors

    Play Episode Listen Later Sep 2, 2020 32:59


    Patrick Kelly, CEO/co-founder of Signal Advisors, joins the show to discuss fintech for financial advisors - including his new launch and how to advisors can seamlessly onboard annuities for their clients. The conversation then goes on to discuss entrepreneurship, early doubters, stoicism and more.

    Doug Drouillard: Shrine Development

    Play Episode Listen Later Aug 27, 2020 45:38


    Phil is joined by Doug Drouillard, Co-Founder/CEO of Shrine Development, for a conversation about technology, app development, startups, and how social media and digital distractions impact our energy and focus.

    John Bartlett: Investing in Infrastructure

    Play Episode Listen Later Aug 17, 2020 36:57


    John Bartlett, President of Reaves Asset Management, joins the podcast for a deep dive into investing in infrastructure and utilities. They explore the state of infrastructure in the US, why infrastructure matters, what factors drive the sector's performance and more.

    Melissa Joy: Pearl Planning

    Play Episode Listen Later Aug 10, 2020 45:37


    Phil sits down with Melissa Joy, founder of Pearl Planning, to discuss how Melissa launched her firm, gender gaps in the wealth management industry, personal finance tips and more.

    Jared Dillian: DJ Stochastic & Financial Content

    Play Episode Listen Later Aug 3, 2020 29:45


    Phil talks to Jared Dillian about creating and monetizing content across various mediums. They also discuss asset managers blinded by their anger at the Federal Reserve, Robinhood traders, inflation, and Jared's DJ career.

    Ranjan Roy: How to arbitrage Doordash pizza delivery prices?

    Play Episode Listen Later Jul 27, 2020 36:02


    Ranjan Roy, Founder & CEO of The Edge Group and author of The Margins on Substack, joins Phil to tell the story of how he arbitraged pizza prices on Doordash and to discuss content creation, antitrust issues, Silicon Valley "platform" business economics, Robinhood and the game-ification of trading, and more.

    Jim Ross: How do you scale an investment vehicle?

    Play Episode Listen Later Jul 21, 2020 39:21


    Phil is joined by legendary ETF pioneer Jim Ross to reflect on his career, the state of the asset management industry and a fresh start in M&A as he launches a new SPAC targeting asset managers.

    Dave Nadig: How do you find the signal from the noise in Asset Management?

    Play Episode Listen Later Jul 13, 2020 53:55


    David Nadig joins Phil to explore the rapidly changing landscape in the Asset Management industry. They discuss ETFs, ESG, commoditization of financial products, whether you should trust this market, how to look great on a Zoom call, and more.

    Nancy Davis: How can investors hedge against inflation?

    Play Episode Listen Later Jun 17, 2020 35:29


    Nancy Davis, Founder and CIO of Quadratic Capital Management joins the show to talk about her fund and how it can help investors hedge against interest rate and inflation risks. She also talks about the challenges of entrepreneurship and how it has been difficult to brush off rejection in the financial services industry as she continues to tell the story of the fund and how it is designed to help investors.

    Joe Smith: How do you personalize investment portfolios?

    Play Episode Listen Later Jun 10, 2020 33:23


    Joe Smith, Founder of Parti Pris Investment Partners joins Phil for a conversation about entrepreneurship, direct index and diversity in the asset management industry. Joe discusses his new startup and how they are utilizing technology to deliver customized solutions to financial advisors. Joe and Phil then have a candid discussion about diversity and inclusion in the asset management industry, with Joe recounting his personal experiences and offering ideas for industry improvement in the future.

    Liam Vaughan: Who caused the flash crash?

    Play Episode Listen Later Jun 4, 2020 33:00


    Liam Vaughan joins the podcast to talk about his recent book Flash Crash: A Trading Savant, a Global Manhunt, and the Most Mysterious Market Crash in History. The conversation includes details on how the flash crash went down, the aftermath and the resulting blame games, Nav Sarao and whether he was scapegoated, the complexity of market structure, and the status of a potential upcoming movie about the events of the flash crash.

    April Boyle: How do you inspire community entrepreneurship?

    Play Episode Listen Later May 29, 2020 49:01


    April Boyle, Founder and Executive Director of the Build Institute in Detroit, talks about how underestimated entrepreneurs and communities can build lasting wealth and ownership. April discusses Build's mission, why small business is the backbone of communities, and the challenges in getting small business funding. The conversation includes how Detroit companies are surviving the Covid shutdown, the impact of monopolies on small business, and alternative funding sources such as community capital and invisible capital.   Learn more at www.buildinstitute.org

    Tariq Dennison: What is the Outlook for Asia & EM?

    Play Episode Listen Later May 19, 2020 45:10


    Phil is joined by the "Quant of Asia" Tariq Dennison. Tariq is the Founder of GFM Asset Management based in Hong Kong. Tariq explains what life has been like in Asia since Covid-19 hit, and how Hong Kong in particular has managed to contain the virus. Tariq then shares his outlook on a number of Asian and EM countries and currencies, and explains why he is bearish on gold as an investment.

    Flash episode: Will the Fed's actions lead to civil unrest?

    Play Episode Listen Later May 18, 2020 15:33


    In this flash episode, Phil talks about ETF classifications, listing rules, and why the Fed's actions will lead to civil unrest.

    Tony Greer: How does oil trade negative?

    Play Episode Listen Later May 12, 2020 45:08


    Tony Greer from TG Macro and the Morning Navigator Newsletter joins the show to talk global macro, what happened to WTI oil futures and the USO ETF, the dominance of big tech, the airline trade and whether markets are disconnected from the fundamentals.

    David Abner: What is the digitization of asset management?

    Play Episode Listen Later May 5, 2020 47:31


    David Abner, President of Dabner Capital Markets and former CEO of WisdomTree Europe joins Phil for a wide ranging conversation about the digitization of the asset and wealth management industries, where the puck is heading, and how the world will be changed post-shutdown.

    Flash episode: Why does Phil hate the Federal Reserve Bank?

    Play Episode Listen Later May 1, 2020 18:07


    In this flash episode, Phil explains everything wrong with the Fed's recent actions.

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