Podcasts about CIO

How do quantitative investors adapt when markets, technology and macro regimes are constantly changing? In this conversation, Alan Dunne sits down with George Patterson, CIO of PGIM Quant Solutions, to explore the evolution of systematic investing from the 1990s to today's AI driven landscape. They discuss regime detection, inflation risk, portfolio construction, machine learning, private markets, volatility overlays and the growing role of language models in investment research. George also shares insights from decades in quant investing, including lessons from Covid, the importance of model discipline and why communication skills matter as much as technical expertise.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow George on LinkedIn.Episode TimeStamps: 00:00 - Introduction to George Patterson and his journey from physics to quantitative investing03:12 - Why multidisciplinary teams matter in modern quant investing04:13 - Inside PGIM Quant Solutions and the evolution of multi asset investing06:03 - How markets and macro investing have changed since the 1990s09:12 - The future of the 60/40 portfolio and institutional portfolio construction12:11 - Private markets, liquidity challenges and institutional investor concerns13:25 - Inflation, commodities and building modern inflation hedges19:33 - Detecting macro regimes using quantitative models23:26 - The hardest part of systematic investing: trusting the process27:00 - Covid, model failures and managing regime shifts in real time30:07 - Portfolio protection, options strategies and volatility overlays32:01 - How AI and large language models are transforming quantitative research40:02 - Fiscal risks, inflation concerns and the changing rate environment44:26 - Simplicity versus complexity in quantitative model design48:05 - Why markets evolve faster today and how models must adapt51:08 - Retail investors, meme stocks and market distortions53:33 - Emerging markets and where long term opportunities may exist55:08 - The future of quant investing and the limits of AI hype57:10 - George Patterson's career advice for aspiring quantsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Most physicians spend more time fighting their software than seeing patients, and piling on new tools has not fixed it. Grace E. Terrell, a physician executive, argues that decades of layering electronic health records, population health tools, remote patient monitoring, and now AI onto sixty-year-old billing infrastructure has produced a Frankenstein stack that burns out clinicians and harms patients. This episode is based on her article "Connected health care workflows: From chore to core patient care," published on KevinMD. You will hear why layering new tools on old infrastructure keeps failing, how prior authorization became an arms race, and what a genuinely connected workflow would feel like for a clinician evaluating a patient with suspected spinal abscess. You will also learn the one question to ask any vendor pitching a new tool, and why her company's CIO believes EHRs themselves may not survive the next five years. Listen for a concrete path from chore to core patient care. Partner with me on the KevinMD platform. With over three million monthly readers and half a million social media followers, I give you direct access to the doctors and patients who matter most. Whether you need a sponsored article, email campaign, video interview, or a spot right here on the podcast, I offer the trusted space your brand deserves to be heard. Let's work together to tell your story. PARTNER WITH KEVINMD → https://kevinmd.com/influencer SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended

By now most organizations have AI strategies (among their other tech strategies). But how do you know when it's time to make a midcourse correction? Better still: How can you predict when, and what kind of corrections you might need? John and Johna discuss, and tell the story of how a university prepared for technology... Read more »

This podcast is released as part of a collaboration between Fiftyfaces Productions and the Always a Pensions Angle Podcast produced by DG Publishing.  Nick Dixon is Head of Pensions, Avon Pension Fund, which he has led since 2022.  Avon Pension Fund serves c.140,000 members in the public sector across Bristol, Bath and surrounding areas and is now a partner fund of Local Pensions Partnership.  Previously Nick advised private sector wealth platforms on their pensions and investment proposition. He was CIO of Aegon UK from 2013-21, focused on DC workplace pensions. From 2001-13 Nick was Marketing Director for wealth & pensions platform Quilter.Our conversation has a particular focus on an engagement exercise that Avon conducted around the fund's investment in aerospace and defence companies. Nick explained that during 2024 and 2025 the fund received a lot of petitions from its members who were deeply concerned about the war in Gaza, and the indirect role of aerospace and defence companies in supplying Israel. In response to that, a critical stakeholder issue, they conducted a survey of all members. We opened up the issue to bring out a set of trade-offs, including the importance of NATO defence, the concern about arms impacts on the environment, the fact that they kill innocent civilians. The consultation had reasonable engagement - with 11% of the fund members responding, and the result was that 42% wanted to divest, about 47% said they'd like to remain invested, and about 11% said they didn't know. The fund did not consider this a clear mandate to divest – and therefore decided to remain invested.We discuss the importance of engagement generally as well as this critical, sometimes emotive, issue, which has emerged for many local authority pension funds. We reflect on whether surveys and engagement in this way could be a way forward for other funds in the future as these issues continue to gain traction with the underlying beneficiaries and stakeholders. 

In every tech supercycle, investors are good at identifying disruptive technologies, but bad at picking the winners. AI is no different, except for the pace and velocity of growth, investment, and hype. And this time the incumbents are leading the charge. This episode works through how to separate the hype from who actually captures the enterprise value, walking through four layers of the AI investment stack, and which of these layers will exist independently or get absorbed. Joined by Kai Wu of Sparkline Capital, Jerry Neumann, retired VC investor and writer, and David Haber of a16z, we synthesize views and research to explore this very complex topic.Guests:Kai Wu, Founder & CIO, Sparkline Capital Jerry Neumann, retired VC investor and writerDavid Haber, General Partner, a16z⁠Episode SourcesKey Points From This Episode:●[00:00:00]Kai Wu on the current stage of the AI infrastructure buildout and adoption cycle.●[00:04:13]Introduction to investing across the AI stack and the challenge of capturing value from technological revolutions.●[00:11:18]Historical technology cycles, hype cycles, and lessons from past paradigm shifts.●[00:15:57]The “historical autopsy” of technology booms: capital misallocation, demand assumptions, and timing risks.●[00:20:31]Comparing AI infrastructure spending with railroad and fiber-optic buildouts across history.●[00:22:44]The AI prisoner's dilemma and why competition drives aggressive capital expenditures.●[00:25:38]Jerry Neumann on value capture, competition, and why great technologies do not always produce great investments.●[00:27:51]The dot-com fiber buildout, overcapacity, and how later innovators benefited from subsidized infrastructure.●[00:33:48]Why AI may differ from previous cycles due to the dominance of well-capitalized incumbents.●[00:36:44]David Haber on compute demand, data center utilization, and the economics behind current AI investment.●[00:38:33]Vertical integration, competitive advantages, and how major technology companies are positioning for AI leadership.●[00:44:06]Whether application-layer companies can survive alongside powerful infrastructure and model providers.●[00:47:06]David Haber on enterprise AI applications, vertical software opportunities, and context-driven value creation.●[00:49:53]Revenue growth, valuation expectations, and the sustainability of AI business models.●[00:57:00]Open AI growth projections, demand assumptions, and the risks of extrapolating future adoption.●[01:00:05]Aaron's framework for analyzing the AI investment stack and its four primary layers.●[01:06:39]The shipping container analogy and where value ultimately accumulates in transformative technologies.●[01:12:30]Platform companies, hyper scaler investment strategies, and the defensive motivations behind AI spending.●[01:46:13]Final investment principles, frameworks, and key takeaways for evaluating opportunities across the AI ecosystem.

Healthcare accounts for nearly one-fifth of the U.S. economy, making it one of the most consequential sectors for AI-driven transformation. In this special Technovation summit panel moderated by Mike Bertha, Partner at Metis Strategy, Michael Pfeffer, Chief Information & Digital Officer at Stanford Health Care and Stanford School of Medicine, and Chad Wasserman, CIO of HCA Healthcare, explore how healthcare organizations are moving beyond digitization and toward clinical-grade AI. The discussion examines how AI is improving clinical decision-making, accelerating disease detection, enabling personalized medicine, and reshaping healthcare operations. The panelists also discuss responsible AI governance, the importance of connecting technologists to patient outcomes, and what it will take for AI to ultimately bend healthcare’s cost curve. Key topics include: Moving healthcare from digitized to truly digital Clinical-grade AI and personalized medicine Responsible AI governance and Stanford’s FURM framework Human-centered technology leadership Scaling innovation through operational excellence The future of healthcare delivery and AI-enabled care This episode is presented by Celonis — Give AI the context it needs. Learn more at celonis.com  

In 1994, Daragh Mahon won the green card lottery and moved from Ireland to Atlanta. His first American job was driving an eighteen-wheeler for Schneider. Thirty years later, he runs IT for Werner Enterprises, one of the largest trucking companies in North America, with 12,000 drivers moving freight across the country every day.In this episode of Kill Chain, host Terry Reinert sits down with Daragh to unpack a career arc most CIOs never take and a perspective on cybersecurity, AI, and the future of transportation that most haven't earned.What you'll hear:Why Daragh asked every autonomous trucking company the same security question and never got an answerThe 3 critical infrastructure sectors a foreign adversary attacks first (and why transportation is on the list)Why he wants the tech industry to "stop talking about AI"The AI backlash brewing in colleges that CIOs aren't trackingThe story of signing a contract he had no authority to sign and getting 12 months to make it workWhy real innovation only happens at the startup level, and what the big software companies stopped doingBuilding security into corporate DNA instead of bolting it onThe Werner Accelerator and why every corporation should run onePredictions for the next ten years (and why he refuses to make them)About the guest:Daragh Mahon is the EVP and CIO of Werner Enterprises (NASDAQ: WERN). Before Werner, he led IT at Vonage and held senior roles at Sage and Peachtree Software. He emigrated from Ireland to the US in 1994 through the Morrison Visa Program.About the show:The Kill Chain Podcast is a conversation series about cybersecurity, transportation, and the future of fleet operations, hosted by Terry Reinert, CEO of Fleet Defender. New episodes drop every other week.Want to learn more about securing your fleets, platforms, or mission critical systems? Contact us at FleetDefender.com.

On this episode Fred sits down with Matt Berseth, Co-Founder and CIO of Jacksonville-based AI and machine learning firm NLP Logix, for a candid conversation about artificial intelligence's uneven journey into healthcare. Berseth traces his path from a small North Dakota farm to co-founding one of America's fastest-growing AI companies, and reflects on the landmark moment in 2016 when NLP Logix's algorithm finished in the top five of the international "CAMELYON16" digital pathology challenge, competing against teams from MIT, Harvard, and Google. The episode covers why clinical AI has been so slow to scale despite impressive research results, where the real near-term opportunity lies (hint: it's in the back office and workflow automation, not the OR), and what healthcare executives should be doing right now to position their organizations for the AI-accelerated decade ahead. Berseth closes with a compelling call to prioritize organizational AI literacy, ie, the foundational investment that separates AI-ready health systems from those still waiting on the sidelines. To stream our Station live 24/7 visit www.HealthcareNOWRadio.com or ask your Smart Device to “….Play Healthcare NOW Radio”. Find all of our network podcasts on your favorite podcast platforms and be sure to subscribe and like us. Learn more at www.healthcarenowradio.com/listen

What happens when markets stop behaving like machines and start behaving like living systems? In this episode, Richard Brennan joins Niels to explore passive investing, complex adaptive systems, volatility suppression, and the hidden forces reshaping modern market structure. From structured products and reflexive flows to demographics, trend following, and the fragile illusion of equilibrium, this conversation asks whether markets are becoming more unstable precisely because investors believe they have become safer. A thoughtful and layered discussion about why price discovery may be weakening, why trends persist, and why systematic strategies may be more relevant in a world increasingly shaped by feedback loops.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rich on Twitter.Episode TimeStamps:00:00 - Introduction to the episode and overview of today's discussion02:22 - Richard Brennan breaks down passive investing through the lens of complex adaptive systems06:51 - What “complex adaptive systems” actually means in markets14:53 - Why passive investing changes market structure without individual investors realizing it24:06 - Niels discusses structured products, volatility suppression, and market fragility29:23 - How demographic shifts could eventually reshape passive investing trends35:37 - Trend following performance update and the TTU Trend Barometer38:48 - Listener question on variance, volatility, and correlation in systematic trend following42:04 - The “murmuration” analogy and why markets behave like flocks instead of machines48:31 - Why equilibrium theory survives despite failing to explain real markets51:17 - The endogenous engine of markets and the mechanics of reflexivity57:47 - How trend followers align with the architecture of modern markets01:03:12 - Why passive investing weakens balancing forces and strengthens trends01:13:43 - The statistical evidence showing markets structurally trend over time01:21:18 - Why trend following may become even more effective in the futureCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

David George, General Partner at a16z, and David Clark, CIO at VenCap, discuss how AI is reshaping venture capital and the technology industry itself. They examine why today's AI companies are scaling faster than any previous generation of startups, and why the eventual outcomes may be significantly larger than most investors currently expect. The conversation covers frontier AI models, coding agents, open source competition, data center constraints, and who ultimately captures value in the AI ecosystem. They also discuss what these shifts mean for venture capital itself, including larger company outcomes, faster value creation, and the growing challenge of identifying durable winners in a market evolving at unprecedented speed.   Resources: Follow David George on X: https://x.com/DavidGeorge83 Follow David Clark on X: https://x.com/daveclark85 Follow VenCap on X: https://www.vencap.com   Stay Updated:Find a16z on YouTube: YouTubeFind a16z on XFind a16z on LinkedInListen to the a16z Show on SpotifyListen to the a16z Show on Apple PodcastsFollow our host: https://twitter.com/eriktorenberg Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today! Checkout the Boock Report: https://boockreport.com On this episode of On the Tape, host Danny Moses sits down with returning guest Peter Boockvar — independent economist, market strategist, and CIO at OnePoint BFG Wealth Partners — for a wide-ranging conversation on the forces shaping today's markets. Peter and Danny dig into why yields finally started mattering to equity investors, the self-fulfilling momentum behind the AI trade, and China's rapid rise as a formidable competitor in EVs, robotics, semiconductors, and AI — and what that means for U.S. tech dominance. They also tackle the housing affordability crisis, the Fed's rate path, rising unemployment risk, and whether the U.S. consumer can hold up. Plus, Danny runs Peter through a series of event contract odds — from Fed rate cuts to S&P price targets — for a fast-paced gut-check on where markets are headed. --ABOUT THE SHOWFor decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.Follow Danny on X: @dmoses34The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content.Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

In this episode of Bitcoin Brainstorm, Rod Roudi is joined by Cathie Wood, Adam Back, Hunter Beast, Rob Hamilton, Ren Crypto Fish, and David Puell for a deep discussion on quantum computing and its implications for Bitcoin. The group examines the technical, financial, and governance challenges posed by advances in quantum technology, while also exploring the progress being made on post-quantum cryptography and Bitcoin security research. From institutional concerns and custodial infrastructure to migration paths and consensus-building, the conversation highlights how developers, researchers, and investors are collaboratively addressing one of Bitcoin's most discussed long-term risks. Guests on this month's Bitcoin Brainstorm include: Cathie Wood: Founder, CEO and CIO at ARK Invest David Puell: Research Trading Analyst/Associate Portfolio Manager, Digital Assets, ARK InvestAdam Back: CEO, BlockstreamRen Crypto Fish: General Partner, Electric CapialRob Hamilton: Co-founder & CEO, AnchorWatchHunter Beast: Author, BIP360Rod Roudi: Founder, Bitcoin Park Key Points From This Episode: [00:00:00] Why quantum computing has become a major topic within Bitcoin discussions.[00:02:07] The role of Wright's Law and Moore's Law in estimating quantum progress.[00:04:38] Different quantum computing architectures and their implications for Bitcoin security.[00:05:58] Adam Back's overview of post-quantum signatures and Blockstream's research efforts.[00:06:55] How Bitcoin layer twos like Liquid are being used as testing grounds for quantum-resistant tools.[00:07:30] The trade-offs between signature size, speed, and security in post-quantum cryptography.[00:09:35] The importance of minimizing feature creep in Bitcoin upgrades.[00:11:41] Institutional investor concerns surrounding Bitcoin's quantum readiness.[00:22:28] Why Bitcoin developers favor conservative cryptographic approaches.[00:26:20] The collaborative nature of Bitcoin's open-source research ecosystem.[00:31:45] The distinction between long-range and short-range quantum attacks.[00:38:49] How custodians and hardware security module providers may need to prepare for migration.[00:45:35] Discussions around lost coins and the philosophical debate surrounding frozen or deprecated keys.[00:50:40] The importance of rough consensus within Bitcoin governance.[01:01:20] Why communication and investor education remain critical during this process. Learn more about Bitcoin Park: bitcoinpark.com Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Jason Buck, founder and CIO of Mutiny Funds, joins Infinite Loops to tell the painful and darkly funny story of how the 2007–2008 crash destroyed his real estate business, wiped out his paper wealth, and taught him one of the hardest lessons in markets: being right is not the same thing as making money. Jason explains how he went from real estate developer to volatility trader and eventually built his philosophy around survival, resilience, and the "Cockroach Portfolio." He and Jim explore why true diversification always feels uncomfortable, why human behavior is the most persistent source of market mistakes, and why investing beliefs often resemble religion. Important Links: Learn more about Mutiny Fund here: https://mutinyfund.com/ Listen to more from Jason here: https://mutinyfund.com/podcasts

Semiconductor stocks continue to dominate market leadership as AI spending, data center demand, and investor enthusiasm push valuations higher. But is the semiconductor trade becoming dangerously overcrowded? Lance Roberts & Michael Lebowitz examine whether the current AI-driven semiconductor boom is sustainable or if markets are entering another phase of excessive speculation. We discuss narrow market breadth, concentration risk inside major indexes, memory chip pricing, Korea's growing importance in the global semiconductor supply chain, and whether investor optimism is outrunning economic reality. Here's a topical rundown of today's show: 0:00 - INTRO 1:02 - End of Quarter prep; Triton Joins $-Trillion Club 5:59 - Market Driver Primarily Technology 12:05 - Semiconductor Commentary 18:01 - 15 Trading Rules info 19:18 - PCE Price Index Preview 23:03 - U.S. Economy Continues to Accelerate 27:27 -How Does Divergence in Oil Prices Resolve? 29:26 - Market Complacency on Resolution in Iran 31:22 - Dispersion Index - Fragile/Stable vs Ripe for Rotation 33:16 - AI Impact on Economy - Bullish vs Bearish cases 35:43 - AI & the Engels Pause 37:45 - What New Jobs Will AI Generate? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/XB3W7awMDZk ------- Articles Mentioned in Today's Show: "15 Investing Rules To Win The Long-Game" https://realinvestmentadvice.com/resources/blog/15-investing-rules-to-win-the-long-game/ "AI Productivity And Innovation: Prosperity Or Engels Pause?" https://realinvestmentadvice.com/resources/blog/ai-productivity-and-innovation-prosperity-or-engels-pause/ ------- Watch today's "Before the Bell" feature, "Tech Rally Risk Rising," here: https://youtu.be/AVXI7TCayvI ------- Watch our previous show, "Q&A Wednesday: Real Advisors, Real Answers ," https://youtube.com/live/zzDZJD0kIeA ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #TechnologyStocks #Semiconductors #SP500 #MarketRisk #Semiconductors #ArtificialIntelligence #AIStocks

Semiconductor stocks continue to dominate market leadership as AI spending, data center demand, and investor enthusiasm push valuations higher. But is the semiconductor trade becoming dangerously overcrowded? Lance Roberts & Michael Lebowitz examine whether the current AI-driven semiconductor boom is sustainable or if markets are entering another phase of excessive speculation. We discuss narrow market breadth, concentration risk inside major indexes, memory chip pricing, Korea's growing importance in the global semiconductor supply chain, and whether investor optimism is outrunning economic reality. Here's a topical rundown of today's show: 0:00 - INTRO 1:02 - End of Quarter prep; Triton Joins $-Trillion Club 5:59 - Market Driver Primarily Technology 12:05 - Semiconductor Commentary 18:01 - 15 Trading Rules info 19:18 - PCE Price Index Preview 23:03 - U.S. Economy Continues to Accelerate 27:27 -How Does Divergence in Oil Prices Resolve? 29:26 - Market Complacency on Resolution in Iran 31:22 - Dispersion Index - Fragile/Stable vs Ripe for Rotation 33:16 - AI Impact on Economy - Bullish vs Bearish cases 35:43 - AI & the Engels Pause 37:45 - What New Jobs Will AI Generate? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/XB3W7awMDZk ------- Articles Mentioned in Today's Show: "15 Investing Rules To Win The Long-Game" https://realinvestmentadvice.com/resources/blog/15-investing-rules-to-win-the-long-game/ "AI Productivity And Innovation: Prosperity Or Engels Pause?" https://realinvestmentadvice.com/resources/blog/ai-productivity-and-innovation-prosperity-or-engels-pause/ ------- Watch today's "Before the Bell" feature, "Tech Rally Risk Rising," here: https://youtu.be/AVXI7TCayvI ------- Watch our previous show, "Q&A Wednesday: Real Advisors, Real Answers ," https://youtube.com/live/zzDZJD0kIeA ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #TechnologyStocks #Semiconductors #SP500 #MarketRisk #Semiconductors #ArtificialIntelligence #AIStocks

Luiz Domingos has spent 25 years watching enterprise communications evolve, from IP telephony to cloud to AI, and his assessment of where things stand now is unusually concrete. Companies have moved past the strategy deck phase. AI is being embedded directly into contact centers, compliance workflows, and communication pipelines, and the question executives are asking has shifted from "which model is smartest" to "which deployment reduces friction and stays compliant." Domingos is direct about what gets in the way: you cannot pour AI into a legacy architecture and expect transformation, and cloud-only AI doesn't solve the latency or data sovereignty problems that regulated industries face every day. In this conversation with Craig Smith, Domingos covers the practical mechanics of how Mitel is applying AI across its portfolio, from real-time transcription and sentiment analytics in contact centers, to agentic workflows that turn conversations into automated tickets and follow-ups. He draws a clear line between AI agents (which give recommendations) and agentic AI (which takes actions), a distinction the market consistently confuses. He also makes a prediction worth noting: within five years, voice will replace the traditional app interface as the primary way people interact with enterprise AI systems. For any CIO or CTO trying to move from experimentation to real ROI, his framework - start with workflow friction, not pilots - is the most actionable takeaway in the episode.

On this episode we are joined by Dr. Rainer Zitelmann, to discuss his book New Space Capitalism: The Entrepreneurial Path to the Stars. We discuss why government-funded space programs were initially successful but also why the future of space exploration, and the space economy, will be driven by private companies. Dr. Zitelmann explains what he believes to be the key driver of unlocking the economic potential of space and why it's conceivable that ventures such as space tourism, orbital data centers and asteroid mining might be listed on the stock exchange. This is a conversation for everyone who wants an early look at an industry that is about to “take off”!-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Kevin on SubStack & read his Book.Follow Rainer on Instagram and read his book.Episode TimeStamps: 00:00 - Why incentives may explain why humans stopped going to the moon01:07 - Kevin introduces Dr. Rainer Zitelmann and New Space Capitalism02:47 - How childhood fascination with space led to a lifelong interest05:45 - Why Apollo succeeded and why it may have been a historical exception09:22 - The Space Shuttle program and the limits of government-led innovation13:50 - How SpaceX changed the economics of launch services20:32 - Why private property rights may be essential for space capitalism24:36 - The legal uncertainty around owning land and resources in space32:23 - How Mars settlement could be financed through private ownership42:49 - Asteroid mining, space resources and the business case beyond Earth48:06 - Space tourism and why early innovation often starts with the wealthy53:51 - How investors might think about the emerging space economy58:27 - Why space capitalism is no longer science fictionCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Dr. Yana Werner and Phil LeBrun are senior leaders at Amazon Web Services who help Fortune 500 companies navigate AI innovation, organizational change, and leadership transformation. Yana is an Executive in Residence at AWS, a Harvard Business Review Press author, and a global transformation leader with experience spanning financial services, startups, and DHL. Phil is the former international CIO of McDonald's, where he led technology modernization across 38,000 restaurants in 120 countries. Together, they co-authored The Octopus Organization, a book focused on helping organizations embrace decentralized leadership, AI adoption, and human-centered change. On this episode we talk about: Why most corporate transformations fail — and how to avoid “soul-destroying” change initiatives The rapid acceleration of AI and why companies are struggling to keep up How Amazon approaches AI innovation internally and encourages experimentation at scale The meaning behind “The Octopus Organization” and decentralized intelligence Why curiosity is one of the most valuable career skills in the modern economy Phil's journey from flipping burgers at McDonald's to becoming international CIO Yana's philosophy of saying “yes” to opportunities and connecting the dots later Why leadership isn't tied to a title — and how anyone can become a leader The importance of learning over certainty in today's workplace How AI tools are reshaping organizational structures and decision making Why transformation projects fail 70–90% of the time Advice for young professionals navigating today's corporate and AI-driven landscape How experimentation and autonomy create innovation inside large organizations The role of curiosity, lifelong learning, and ownership in career growth Why successful leaders ask better questions instead of pretending to have all the answers Quotes from the Episode: “We prefer two teams solving the same problem rather than everyone waiting for permission.” — Phil LeBrun “If AI stopped developing today, it would still take companies five years to catch up.” — Dr. Yana Werner “We train people to have answers, not ask questions.” — Phil LeBrun “My career is a strange connection of dots because I said yes to a lot of things.” — Dr. Yana Werner Connect with Dr. Yana Werner & Phil LeBrun: The Octopus Organization Official Website A Word from Our Sponsors: - Are you ready to start your own creatorjourney and make it big? Visitwww.fanvue.com today and launch yourcareer! - To learn more about Mode Mobile and its investor community, go to https://invest.modemobile.com/travismakesmoney-Travis Makes Money is made possible by High Level – the All-In-One Sales & Marketing Platform built for agencies, by an agency.Capture leads, nurture them, and close more deals—all from one powerful platform.Get an extended free trial at gohighlevel.com/travis Learn more about your ad choices. Visit megaphone.fm/adchoices

Markets, retirement, inflation, taxes, the Fed, portfolio risk, and financial planning — nothing is off limits during this week's Q&A Wednesday. Lance and Danny answer viewer questions live and break down what matters most to investors right now, from market volatility and interest rates to retirement income strategies and long-term wealth planning. Join the conversation and get straightforward insights from real advisors dealing with real-world financial challenges every day. Here's a topical rundown of today's show: 0:00 - INTRO 1:09 - Markets Set New Highs, Iran Talks Continue 5:46 - Markets' Rising on One Sector 9:54 - When Will the Market Correct? 15:16 - Inflation Strategies - What Is Your Goal? 20:54 - What Does "Increasing Equity Exposure for Summer" Look Like? 23:14 - Is Space a Viable Investment? 28:14 - What is the Narrative for Foreign Countries Selling U.S. Debt? 30:20 - Backing Into a Diversification Strategy 32:24 - Focus on the "P" in GDP 34:00 - Why Own Long Bonds? 37:20 - What is Your Reinvestment Risk? 38:46 - How to Protect from Sequence of Returns Risk? 40:48 - What Milton Friedman Really Said Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/zzDZJD0kIeA ------- Articles Mentioned in Today's Show: "Corrections vs. Bear Markets: Why 20% Declines Are Obsolete" https://realinvestmentadvice.com/resources/blog/corrections-vs-bear-markets-why-20-declines-are-obsolete/ "SpaceX IPO: Should I Buy It, Or Wait?" https://realinvestmentadvice.com/resources/blog/spacex-ipo-should-i-buy-it-or-wait/ ------- Watch today's "Before the Bell" feature, "Narrow Rally Risks," here: https://youtu.be/dO-rDPLZBa8 ------- Watch our previous show, "Why 20% Market Drops Don't Matter," https://youtube.com/live/PdNwnrviYnQ?feature=share ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #AIStocks #MarketBreadth #Investing #FederalReserve #QandAWednesday #FinancialPlanning

Markets, retirement, inflation, taxes, the Fed, portfolio risk, and financial planning — nothing is off limits during this week's Q&A Wednesday. Lance and Danny answer viewer questions live and break down what matters most to investors right now, from market volatility and interest rates to retirement income strategies and long-term wealth planning. Join the conversation and get straightforward insights from real advisors dealing with real-world financial challenges every day. Here's a topical rundown of today's show: 0:00 - INTRO 1:09 - Markets Set New Highs, Iran Talks Continue 5:46 - Markets' Rising on One Sector 9:54 - When Will the Market Correct? 15:16 - Inflation Strategies - What Is Your Goal? 20:54 - What Does "Increasing Equity Exposure for Summer" Look Like? 23:14 - Is Space a Viable Investment? 28:14 - What is the Narrative for Foreign Countries Selling U.S. Debt? 30:20 - Backing Into a Diversification Strategy 32:24 - Focus on the "P" in GDP 34:00 - Why Own Long Bonds? 37:20 - What is Your Reinvestment Risk? 38:46 - How to Protect from Sequence of Returns Risk? 40:48 - What Milton Friedman Really Said Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/zzDZJD0kIeA ------- Articles Mentioned in Today's Show: "Corrections vs. Bear Markets: Why 20% Declines Are Obsolete" https://realinvestmentadvice.com/resources/blog/corrections-vs-bear-markets-why-20-declines-are-obsolete/ "SpaceX IPO: Should I Buy It, Or Wait?" https://realinvestmentadvice.com/resources/blog/spacex-ipo-should-i-buy-it-or-wait/ ------- Watch today's "Before the Bell" feature, "Narrow Rally Risks," here: https://youtu.be/dO-rDPLZBa8 ------- Watch our previous show, "Why 20% Market Drops Don't Matter," https://youtube.com/live/PdNwnrviYnQ?feature=share ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #AIStocks #MarketBreadth #Investing #FederalReserve #QandAWednesday #FinancialPlanning

On the 68th episode of Enterprise AI Innovators, host Saam Motamedi (General Partner, Greylock Partners) talks with Paul Beswick, SVP & Chief Information and Operations Officer at Marsh, about building production-grade AI tooling in days, why a portfolio of twenty small sequential projects beats three big flagship ones, and what the scaffolding around the firm's internal LenAI tool taught Marsh about agent harnesses and operational AI.Quick Hits from Paul:On staying current as a CIOO: "I code probably weekly if not more."On building scrappy versus buying commercial: "We only lag by a few months, and it costs a lot less to do it this way."On a new CIO's first three AI projects: "Break those three into 20 each and do them sequentially, one at a time."Book Recommendation: Titus Groan by Mervyn Peake.Like what you hear? Leave us a review and subscribe to the show on Apple, Spotify, and YouTube.Enterprise AI Innovators is a show where top technology executives share specific ways AI changes how work gets done in the enterprise.Find more great insights from technology leaders and enterprise software experts at https://www.enterprisesoftware.blog/Enterprise AI Innovators is produced by Abnormal Studios.

Why Most Enterprise AI Projects Hit a "Value Ceiling" — And How to Break Through | Dr. Fern HalperWhat separates the companies actually winning with AI from the ones burning budget on chatbots that go nowhere? In this upcoming episode of Redefining AI, host Lauren Hawker Zafer sits down with Dr. Fern Halper — VP of Research at TDWI, Founder of the AI Foundations Group, former Bell Labs lead analyst, and one of the most respected voices in enterprise AI strategy — to unpack the ideas behind her highly anticipated new book, Data Makes the World Go 'Round: The Data, Tech, and Trust Behind AI Success.With over 30 years bridging deep technical execution and C-suite strategy, Dr. Halper explains why so many organisations are stuck chasing hype instead of value, and what it actually takes to move AI from lab experiments into production systems that drive real ROI.Inside this episode, you'll learn:Why generative AI hits a "value ceiling" without trusted, governed data foundationsThe execution traps that sank AI initiatives at Zillow, Amazon, and othersHow data lakehouses and data fabric architectures unify siloed data for AIWhy MLOps is so hard — and why every model eventually degradesThe critical difference between data governance and AI governanceHow agentic AI changes the risk equation when systems start taking autonomous actionsThe shift from controlling what AI produces to overseeing what AI doesHow to tie AI use cases to measurable KPIs instead of vanity metricsEmbedding fairness, explainability, and EU AI Act compliance without killing innovationDefending against shadow AI while democratising analytics across the businessWhether you're a CDO, CIO, VP of Data, AI product leader, or a business executive under pressure from your board to "do something with AI," this is the strategic playbook you've been waiting for.

Why Most Enterprise AI Projects Hit a "Value Ceiling" — And How to Break Through | Dr. Fern HalperWhat separates the companies actually winning with AI from the ones burning budget on chatbots that go nowhere? In this upcoming episode of Redefining AI, host Lauren Hawker Zafer sits down with Dr. Fern Halper — VP of Research at TDWI, Founder of the AI Foundations Group, former Bell Labs lead analyst, and one of the most respected voices in enterprise AI strategy — to unpack the ideas behind her highly anticipated new book, Data Makes the World Go 'Round: The Data, Tech, and Trust Behind AI Success.With over 30 years bridging deep technical execution and C-suite strategy, Dr. Halper explains why so many organisations are stuck chasing hype instead of value, and what it actually takes to move AI from lab experiments into production systems that drive real ROI.Inside this upcoming episode, you'll learn:Why generative AI hits a "value ceiling" without trusted, governed data foundationsThe execution traps that sank AI initiatives at Zillow, Amazon, and othersHow data lakehouses and data fabric architectures unify siloed data for AIWhy MLOps is so hard — and why every model eventually degradesThe critical difference between data governance and AI governanceHow agentic AI changes the risk equation when systems start taking autonomous actionsThe shift from controlling what AI produces to overseeing what AI doesHow to tie AI use cases to measurable KPIs instead of vanity metricsEmbedding fairness, explainability, and EU AI Act compliance without killing innovationDefending against shadow AI while democratising analytics across the businessWhether you're a CDO, CIO, VP of Data, AI product leader, or a business executive under pressure from your board to "do something with AI," this is the strategic playbook you've been waiting for.

Most enterprises have some kind of zero trust strategy, but a lot of them could be better described as good intentions rather than active programs being implemented. Making good on a zero trust strategy and achieving an actual zero trust architecture requires tools that embody the core precept of zero trust thinking: deny access by... Read more »

Today we return to the subject of hedge funds in commodities, and metals and mining in particular. How have hedge funds evolved with respect to commodities? What do investors and allocators think about with respect to commodities exposure and the types of investments they want to make? How do hedge funds go about a lasting edge in the commodities sector? And then why commodities and why, in particular, metals and mining? Our guest is Matt Heap, founder and CIO of Forth Fund Management, a sector specialist hedge fund dedicated to metals and mining, launching in Switzerland. Matt has had a phenomenal career in metals trading, both in hedge funds at OrionResource Partners, and then prior to that, as Louis Dreyfus, where he was global head of metals For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global

https://youtu.be/sUyjA0muVgM Tom Kirkham, Founder and CEO of Kirkham IronTech, believes business should create value for everyone involved — employees, clients, vendors, and the broader community. After overcoming major personal challenges and rebuilding his perspective on leadership, Tom embraced stakeholder capitalism and built a company culture focused on long-term partnerships, trust, and continuous learning. In this conversation, Tom shares the IronTech Framework — a practical approach to modern IT management built around three core pillars: Generate ROI and Productivity, Make Cybersecurity Core, and Surround it with a Governance Layer. He explains why businesses should stop treating IT as an expense and instead view it as a strategic investment that improves productivity, protects the company from cyber threats, and aligns technology with leadership goals. Tom also dives into the massive scale of the cybercrime industry, why governance is often the missing piece in cybersecurity, and how proactive IT strategy can dramatically improve business performance. — Turn Your IT into Your Growth Engine with Tom Kirkham Good day. Steve Preda here with the Management Blueprint Podcast, and today’s guest is Tom Kirkham, the Founder and CEO of Kirkham IronTech, where he helps businesses build strong, secure IT foundations, whether fully managed, co-managed, or cybersecurity only. Tom is a keynote speaker on cybersecurity, and he’s the author of two books, Hack the Rich and The Cyber Pandemic. Tom, welcome to the show.  Oh, it’s great to be here, Steve.  Well, great to have you here. And I am curious to dive in, and would like to ask you my favorite question. What is your personal ‘Why’, and how are you manifesting it in Kirkham IronTech?  That’s a great question. So the company’s about twenty-six years old. I went through a lot of personal health problems, and then my wife was real sick, and she ended up passing away—it's been about eleven years ago now. And I was fortunate enough to put a friend of mine in the company, and he was able to take over while I was dealing with this for a couple of years. And when most of it was done, I took some time off and did a lot of traveling and a lot of thinking and a lot of reading. And I’m a lifelong reader, a lifelong learner, and I went back through my history of investing techniques, understanding what makes a good company great. If you’ve read Jim Collins, you know what I’m talking about. And so during those times, I was reflecting, studying philosophy, studying biographies of other CEOs like Elon Musk, Steve Jobs, Andy Grove—gosh, the list goes on and on. Whether you like them or hate them, it doesn’t matter, right? There’s always something you can learn. And I came upon and read a lot about stakeholder capitalism. Like Peter Drucker says, “Culture eats strategy for breakfast.” And I understood what that meant, and it was kind of weird. So when I re-engaged with the company, I identified one of the weaknesses, and I said, “Well, if we need to do marketing in this business—which we have to do in any business—I really need to master marketing.” So I spent a lot of time with marketing gurus, most of them are what I would consider household names these days, and re-engaged with the company to do marketing to establish a great culture around stakeholder capitalism. In other words, we exist as a for-profit business not just for the shareholders but for everyone—the community, vendors, employees. And I really wanted to be around people I enjoyed being around. I wanted them to enjoy coming into work.Share on X And so we’ve been trying to perfect that system in the culture for the past ten years. Of course, no one's perfect, but if you pursue perfection, you can achieve excellence. And I think we've done a really good job. We have very low turnover. Everyone seems genuinely happy to be there, and it's really fulfilling. It's more of a personal feeling because I've been a successful investor practically my whole adult life. I started investing in stocks when I was nineteen, and I'm sixty-four now. So I didn't really need the company. I could have just closed it up or sold it or whatever. But I really wanted to have my own reasons. Those are the things that drive me, and I hope they drive everyone else too.  What resonated with you with this idea of stakeholder capitalism? It just made sense. The obvious part is with employees—all of that is true. That's obvious to any good leader or manager, right? As you well know, there's a difference between leadership and management, and understanding that distinction, and the difference between sales and marketing, and understanding those things. A good example is dealing with vendors. There are all sorts of vendors that supply products and services to us, so we carefully vet these tools and vendors to see if their values align with ours, just like we do with prospects. But especially with vendors, if it's something new—a new tool that we're going to invest a lot of time, money, and energy into to make their product or service successful for us and successful for them—we make a commitment to that vendor.  So it's not about the money or how cheap I can get it. What I want is a good partnership with every stakeholder. And I want to make sure that when I'm dealing with a vendor, if it fails for us, it's not our fault—it's their fault, right? Either they oversold the product or they didn't deliver on the service component. I didn't want it to be because we failed to do the right training, or didn't communicate properly, or missed all the other things that are just part of doing business the right way. And that applies to our employees, our local community, and every stakeholder in the company.  Yeah. I like it. So you're looking for partnership-based relationships where it's win-win. And yeah, if you want people to stick around, it has to make sense for them too. You can't exploit your partners forever without consequences. So that makes a lot of sense. So Tom, let me ask you this other question. This podcast is called The Management Blueprint because I'm always looking for frameworks—something practical that helps businesses achieve results. Usually it's some kind of three-to-five-step process that helps you grow the business, get customers, improve operations, or understand something at a deeper level. So when I ask about your favorite business framework, what comes to mind?  Well, we have a thing we call the IronTech Framework.  Okay.  And it was something that we came up with many years ago and started practicing seven or eight years ago, and it's a framework. It's like the NIST Cybersecurity Framework. I looked at NIST and there's five components to it, and it's about cybersecurity. And I looked at this and I go, “None of this works without the right policies and procedures in place.” The security training—it's not enough just to throw it out there and tell all your people to take it. You've got to follow up, you've got to manage, and coach, and everything like that. And so I started adding this governance component to the way we sold it, presented it, and practiced what we do for our clients day in and day out. Help them develop the policies and procedures for all of the different things, the protocols.  If somebody accidentally fires off a ransomware attack, they need to know they're not going to be penalized for it. We need to know as soon as possible to stop it. And just little things like that, there's a lot that really improve the effectiveness of all of these tools and services that we provide to their clients. And unbeknownst to me, NIST, who has the cybersecurity framework, they added governance about three years ago to the other five things. And so that was kind of nice to know that we were exhibiting some thought leadership. And so when we go in, it's all well and good if you want to put these protections in and these particular products, but we're a best-of-breed company. Like one of our critical tools that's required for our clients to put in place, to buy it and use it every single day on every single computer, is what's known as an EDR. And it's basically an AI-based super turbo antivirus.  To even call it an antivirus is not doing it justice. So there's three legs to the IronTech Framework. We want to make sure that you're getting a return on your investment in IT, because that's why you buy it. If you treat IT as an expense, you need to kind of change the way you're thinking. You want to improve productivity and efficiency.Share on X The second leg is cybersecurity, because a bad cyberattack can put you out of business. I think the last stats I saw were something like 40 to 60% of businesses go out of business within two years of a significant cyberattack. And then finally, the third is governance. That's the three legs of our IronTech Framework. So part of governance is engaging with our clients' management and leadership—the CEO, finance, of course the CIO, the CISO or security officer, and maybe even the board sometimes. Really getting to know: what are your objectives, and how can we utilize our services to best help your company realize those objectives? Because for most companies, there's no other vendor they engage with as much as us.  We're talking to Susie every day. We're talking to Bill every day. We know that Mary's out sick and Steve's on vacation. I mean, when you're running help desk, stopping attacks, providing training, and all the support we provide along those lines, we get to know their company better than practically any other vendor by far. So it really helps if our clients treat us as a partner to help them realize their goals and objectives. And when all of that clicks into place, then it makes recommending things easier.Share on X “Okay, you need to replace these 30 laptops that are four years old. You're not getting an ROI on them.” “This server's five years old. Let's start thinking about replacing it.” “We have this new tool that's really excellent. We're recommending everybody get it.” And because we've developed that trust, those conversations become pretty easy. For the most part, everybody just says yes. But of course, we don't sell just to sell, especially when it comes to things like hardware. That's not really what we're here for. We're here for the day-in, day-out work: keeping things running, stopping breaches, and putting the policies and procedures in place to run your company as smoothly as possible.  Yeah. I love that. So when I had an IT back in the 2000s, I had an IT person who was a contractor, but he was very active in my business, and I always wanted to talk to him and pick his brain. What are the new things out there? How can we make our business more efficient, more effective, more attractive to employees? Cooler. I wanted to be cool. So I wanted everyone to have a PDA in the early 2000s with email on it—a PalmPilot. And we had multiple screens, and I was looking at, okay, how can we manage data in the cloud and on our server so we don't have to deal with it in the office? That kind of stuff. And I really thought about it as a great investment because it was much cheaper than hiring people. And if you give people good tools, they're going to be more motivated and more effective. So I thought it was a no-brainer.  Yes, but there's still a subset of people that treat IT as an expense. Then there are some companies that tend to put IT under the finance guy because the finance guy usually has a lot of IT experience, but never actually did it as a career or a job, right? And those situations are hard because I need CEO-level or owner-level approval, and I need a direct route to that person.  Yeah, that makes sense. So Tom, tell me, what drives growth in your business?  Yeah. From a growth perspective, for us, number one is maintaining our clients and reducing churn. Number two is—I don't know if you're asking about tactics or strategy—but of course we want to get new clients for the right reasons. So we prefer inbound strategies. We don't cold call people unless we've already contacted them in another way, if that's what you're asking.  Yeah. I'm asking what the real driver of growth is. I understand that you do marketing and inbound marketing, but what makes people want to have an IT service partner like you? Well, they understand those three pillars of the IronTech Framework. They may not believe in stakeholder capitalism, but they don't treat IT as an expense. And they understand—especially after talking to me—the true risk of being hacked. A lot of people don't understand the size and scale of that industry. It's a $10 to $12 trillion industry now.  Wow.  If it were a country, it would have the third-largest GDP. The US would be first, China second, and then the hacking industry. It is an industry that hacks at scale. So when these companies—maybe a small 10-person accounting firm in North Dakota in the middle of nowhere—get these ransomware emails and someone tries to hack them, and we alert on it and trap it, and nothing goes wrong, everything's fine… If they don't already understand it, they go, “Well, why are they trying to hack me?” And I say, “You don't understand. That email was one of 100,000 emails that got blasted out. They don't know who you are, nor do they care who you are.” They're playing a numbers game. And it's kind of like marketing. They're looking at conversion numbers. Yeah.  Let's say it's 100,000 emails. They got a list of all the certified public accountants in 10 different states. They set up the email, they send it all out, and let's say 1% become victims. And let's say they collect an average of $10,000 per victim. Well, that's a multi-million dollar payday for about a week or two of work. And then they rinse and repeat. It's done at scale, and it's a much bigger industry than that. That's just a taste of it. Some of our clients are targeted. In other words, hackers are investing time, money, and energy specifically into that company. We're one of them. Any law firm that does intellectual property law—especially around patents, manufacturing, and things like that—you've got China and other nation states not only trying to get into your client, but you're also a threat vector. You're a way to get into that client's patents and secrets.  So we've got to treat that differently. It's not just about the money. There are different types of threat actors, and we have to educate clients, bring them up to speed, and say, “Well, because of this case, you need this other service and tool that we're offering to prevent China from breaking in.” Or, “You need to follow this practice.” Maybe you don't publicly talk about one of your clients being Ford Motor Company or NVIDIA. You just keep that quiet. You don’t want that to be public knowledge. That's one of the things we do. You spent time on our website, and you didn't see a single client name on there. And that's just one of the small things we do to protect our clients' security and privacy, because privacy and security go hand in hand. Yeah. That is fascinating. So what is it that you’re trying to figure out in your business right now? What’s the big thing for you?  I think because of all the chaos in the United States, making a decision to do anything—everybody's kind of frozen. There are a lot of hiring freezes. I know we've got a freeze on right now because we're looking to see, well, do we really need to add somebody, or can we do this with AI? The hackers do the same thing. That's one of the challenges, is getting people over the hump. No matter what you do, if you've got an IT company doing your stuff and you only call them when things are broken, there's a much more profitable way to do that. You're spending more money.  So there are benchmarks in industries, right? Basically, the research—and these aren't numbers we made up, this is legitimate research from many independent sources—says the average professional service provider, like law firms, accounting firms, healthcare providers, and on and on, should be spending 6 to 12% of their revenue on IT and cybersecurity. And that's everything. I'm talking servers, wiring, cloud, security, defense—all of those things should be 6 to 12%. We know that. That's the way it works. So when we engage with a prospect and find out they're only spending 3 or 4%, then I already know they have gaps. I don't even have to do an assessment to see what they're not doing.  They're either not getting a return on investment, or they're not secure. That's it. If all the accounting firms are spending 6%, and you're only spending 4%, don't just pat yourself on the back. That's one of those moments where you should ask, “What am I missing?” Because I do that often. Someone on the management team will come up with an idea, and we all agree. Well, that's a red flag for me. I want to know: what are we missing? If we all agree on this, is there some gotcha or something we haven't uncovered? And those are some of the things we try to educate our clients on. They don't have to tell us their revenue. I can give them the numbers. I can do the math. I can show them the numbers for something like laptop replacement. Maybe it's $1,000 to $3,000 depending on the industry. If the employee using that laptop is making $100,000 a year, why are you trying to squeeze another year out of a $2,000 investment when it's hurting productivity by 10% or more? Yeah. That’s a no-brainer.  Yeah. It should be.  Yeah. It's not just in IT. I had a client years ago in civil engineering, and they had a rule that they would never keep equipment longer than four years. And they were selling equipment that still looked brand new. And I asked them, “Why are you doing this? It seems like this equipment still has a lot of life left in it. Why are you selling it or giving it back to the lease company?” And he said, “We did the math, and we figured out that this is the optimal time to replace it.” If they got rid of the equipment at that point, they wouldn't have to deal with fixing it. There would be less disruption. They would stay state-of-the-art all the time. And their clients would be impressed. And it actually worked for them. It was a high-margin civil engineering firm.  Precisely. I mean, we're so tuned into that that we're a Mac house. We all use Macs. We all have laptops, and we all have setups with screens at home and in the office. We spare no expense on that. If somebody wants an extra screen for their house—alright, here it is. We'll order it and get it there for you. We're so tuned into that, that we went all Mac back when they were still Intel Macs. And I don't know how much you know about Macs, but they were…  I have a couple. Okay. Yeah, we're Mac people too. Yeah, so they were running Intel processors. Well, Apple decided to build their own processor and moved to the M-chip. And so I bought an M1, and it was like, holy cow, everybody in the company has got to have one of these. And I don't think there was a single one more than two years old at that time. So we replaced them all. Now, the M-series generations themselves—M1, M2, M3, and on—those changes aren't as dramatic as going from Intel to the first M-series chip. But it's still unusual. I said two years, but there are probably people right now with a three-year-old laptop. But we definitely trade them in. That's where the sweet spot is on trade-in value. We rotate them every two to three years and they're out. I think mine is maybe a year old, but I'll probably keep this one for a couple more years.  By the way, you're the first IT company and MSP I've met that doesn't use PCs—you use Macs. Yeah. And I long had this theory that all the IT companies I worked with were always anti-Mac, and I never understood why. And when I got my first Mac, I realized I actually didn't need them anymore since I had the Mac.  Yeah, that's kind of funny because it really started with me during Covid. It may not have been seven years now, but whatever it was, it kind of started with Covid. And for years I was a PC guy. I tried Macs briefly back in the old MacBook days—you know, the white plastic ones? Whatever that was, 15 or more years ago.  Yeah. Classic. Very classic.  Yeah. But what I kept trying to do with a Windows laptop—and I like Dell, I had Dell XPSs, good Dell computers, and we're a Dell partner— What I could never get a Windows computer to do was seamlessly come off a docking station and then plug into another monitor at my house. It would always blue screen or something. So when I went back to a Mac, I was like, “Holy cow, it doesn't break. It doesn't mind being unplugged from a docking station. It just works.” Yeah.  And then all the other things—that they're generally built better, they have a longer lifespan, and they hold their resale value longer, and all of that. Even as old as I was, I forced myself to really get proficient at using a Mac. And when we sent everybody home during Covid, I said, “Well, everybody's going Mac.” And, oh, there was a revolt. And I said, “Just give it a few months.”  Yeah.  About half the office resisted it. And I said, “You gotta try it because I think you'll like it, and if you don't, then we'll deal with it then.” We had Linux people, PC people. So then I said, “Well, maybe we should open it up and let people pick what they want.” Yeah, I love it. Yeah. So our time is coming to an end, but if someone is running on Mac and they're finally talking to an IT service company that's not anti-Mac, and they want to connect with you immediately, where should they go and where can they learn more about Kirkham IronTech and maybe connect with you personally? The website is the best place to go. It's www.kirkhamirontech.com. Just give us a call, fill out a form, let us know what you're thinking, because we want to know what you're thinking and see if there's a fit with the way we do things. Macs started becoming important with executives. That's where we first started seeing it. So even though they may still have to run Windows, the owners and executives wanted to carry Macs for the very reasons I mentioned. So we're perfectly happy with that.  Yeah. Okay. Very good. So if you're listening to this and you enjoyed hearing about how to make your IT work—how to increase ROI, make sure you're doing cybersecurity right, and implement governance so you can use IT as a strategic tool to run your business better—then definitely reach out to Tom Kirkham. Or stay tuned to this show, because you're going to hear from other entrepreneurs who are very smart about business. And preferably do both. Tom, thank you for coming and sharing your wisdom, and thank you for listening.  Oh, it’s been my pleasure, Steve. Important Links: Tom's LinkedIn Tom's website

Wall Street still defines a “bear market” as a 20% decline, but does that rule still apply in today's market environment? Lance Roberts & Jon Penn break down why traditional definitions of corrections and bear markets may be obsolete after 17 years of Fed intervention, massive liquidity injections, and historically elevated valuations. We also answer one of the biggest questions investors are asking right now: how do you balance staying invested while also remaining defensive? We discuss risk management, position sizing, portfolio hedging, and how investors can recognize when it may be time to become more cautious without abandoning long-term investment discipline. Lance & Jon also iscuss one of the biggest behavioral mistakes investors make during strong bull markets: allowing the “tax tail” to wag the investment dog. We examine strategies for trimming concentrated positions, managing capital gains, utilizing Donor Advised Funds, exploring option collars for risk management, and remembering that paying taxes usually means you made money in the first place. Here's a topical rundown of today's show: 0:00 - INTRO 0:53 - Iran Talks & Oil Prices 3:11 - Markets over Bought & Over Extended 7:03 - 20% Market Decline - Reality 12:35 - Sneaky Sneezes & Story Time w Jon 13:30 - Market Declines & Investor Mistakes 15:17 - The Difference Between Losing Gains vs Principle 16:48 - Useless Predictions 20:31 - How We Manage Long Term Risks 22:32 - How Warren Buffett Invests (You're not him) 24:03 - Corrections Are Not Nothin' 26:04 - Where Does Gloom & Doom Come From? 27:24 - If Debt-to-GDP Was a Problem - What the Markets Know 31:00 - Don't Let the Tax Tail Wag the Gains Dog 34:36 - When the Fed Chair Changes... 36:55 - Bond Price Moves vs "Fixed"? 42:31 - The Only Way to Buy Bonds 44:56 - Never Ever Borrow Against Your 401k (again) Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/PdNwnrviYnQ?feature=share ------- Articles Mentioned in Today's Show: "Corrections vs. Bear Markets: Why 20% Declines Are Obsolete" https://realinvestmentadvice.com/resources/blog/corrections-vs-bear-markets-why-20-declines-are-obsolete/ ------- Watch today's "Before the Bell" feature, "Narrow Rally Risks," here: https://youtu.be/dO-rDPLZBa8 ------- Watch our previous show, "Parabolic Bubble Brewing - Tom Thornton Interview-2," https://youtube.com/live/s5pdp2zHltg ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #AIStocks #MarketBreadth #Investing #FederalReserve #StockMarket #BearMarket #FederalReserve #Investing #MarketCorrection

O cenário global tem trazido muita volatilidade, seja em relação a guerra no Irã, choque no petróleo e preocupações inflacionárias, ou então em relação à revolução da inteligência artificial.Neste episódio, o Carteiros do Condado convida Felipe Relvas, CIO do MMZR Family Office, para discutir sobre as principais tendências entre os gestores globais e como os principais investidores têm se posicionado no ambiente atual.

Wall Street still defines a "bear market" as a 20% decline, but does that rule still apply in today's market environment? Lance Roberts & Jon Penn break down why traditional definitions of corrections and bear markets may be obsolete after 17 years of Fed intervention, massive liquidity injections, and historically elevated valuations. We also answer one of the biggest questions investors are asking right now: how do you balance staying invested while also remaining defensive? We discuss risk management, position sizing, portfolio hedging, and how investors can recognize when it may be time to become more cautious without abandoning long-term investment discipline. The conversation also covers the appointment of Kevin Warsh as the next Fed Chair, how a change in Federal Reserve leadership could impact markets and longer-duration Treasury bonds, and whether slower economic growth remains the most likely long-term outcome. We revisit concerns about market weakness during a Fed transition period and discuss whether the current rally still faces meaningful downside risks. In this episode, we also explain why bond prices decline even when bonds are considered "fixed income," how rising yields impact individual bond prices, and why investors should avoid emotional reactions to short-term bond volatility. We address growing fears surrounding U.S. debt levels, deficit spending, and debt-to-GDP concerns, while pushing back against the nonstop doom-driven narratives dominating financial media and social platforms. Sometimes the best financial decision is to stop reacting emotionally to headlines and focus on long-term financial planning instead. Finally, we discuss one of the biggest behavioral mistakes investors make during strong bull markets: allowing the "tax tail" to wag the investment dog. We examine strategies for trimming concentrated positions, managing capital gains, utilizing Donor Advised Funds, exploring option collars for risk management, and remembering that paying taxes usually means you made money in the first place. Here's a topical rundown of today's show: 0:00 - INTRO 0:53 - Iran Talks & Oil Prices 3:11 - Markets over Bought & Over Extended 7:03 - 20% Market Decline - Reality 12:35 - Sneaky Sneezes & Story Time w Jon 13:30 - Market Declines & Investor Mistakes 15:17 - The Difference Between Losing Gains vs Principle 16:48 - Useless Predictions 20:31 - How We Manage Long Term Risks 22:32 - How Warren Buffett Invests (You're not him) 24:03 - Corrections Are Not Nothin' 26:04 - Where Does Gloom & Doom Come From? 27:24 - If Debt-to-GDP Was a Problem - What the Markets Know 31:00 - Don't Let the Tax Tail Wag the Gains Dog 34:36 - When the Fed Chair Changes... 36:55 - Bond Price Moves vs "Fixed"? 42:31 - The Only Way to Buy Bonds 44:56 - Never Ever Borrow Against Your 401k (again) Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/PdNwnrviYnQ?feature=share ------- Articles Mentioned in Today's Show: "Corrections vs. Bear Markets: Why 20% Declines Are Obsolete" https://realinvestmentadvice.com/resources/blog/corrections-vs-bear-markets-why-20-declines-are-obsolete/ ------- Watch today's "Before the Bell" feature, "Narrow Rally Risks," here: https://youtu.be/dO-rDPLZBa8 ------- Watch our previous show, "Parabolic Bubble Brewing - Tom Thornton Interview-2," https://youtube.com/live/s5pdp2zHltg ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #AIStocks #MarketBreadth #Investing #FederalReserve #StockMarket #BearMarket #FederalReserve #Investing #MarketCorrection

Most enterprises have some kind of zero trust strategy, but a lot of them could be better described as good intentions rather than active programs being implemented. Making good on a zero trust strategy and achieving an actual zero trust architecture requires tools that embody the core precept of zero trust thinking: deny access by... Read more »

The CIO of Aviva Canada shares insights on leading modernization initiatives across two continents—and how carriers can meet today's operational realities while building the capabilities they'll need tomorrow.

Episode Info Chris is a business-facing CIO and CTO level technology leader with over 10 years in London Market environments and 25+ years across insurance. He is typically brought in to reset technology functions, lead complex regulated transformation, and help businesses use data, automation and AI to improve control, decision making and pace of delivery. His experience spans carriers, syndicates, delegated operations, underwriting, claims and claims services, combining cloud and infrastructure oversight, architecture governance, modern engineering and operating model change. Chris has held executive roles at Ki Insurance, Crawford & Company, Hiscox, QIC and Capco, where he has built and reshaped technology functions, modernised core systems, led carve outs and integrations, and improved resilience, insight and execution across multi-country operations. He is strongest in high pressure environments that require commercial grip, disciplined delivery and visible executive leadership, helping businesses apply AI with purpose to simplify operations, strengthen performance and move technology teams forward. Episode Overview: Data & Customer Experience: The ongoing need for better data is being addressed by AI, enabling more personalized customer experiences that cater to different needs and preferences. AI's Practical Applications: AI is being used for advanced data analysis, claim modeling, and improving underwriting accuracy. It assists in processing information faster, enhancing efficiency in areas like claims. AI can work with legacy systems, offering capabilities without immediate costly overhauls. Human-AI Collaboration: AI is seen as a tool to augment human capabilities, not replace them. It aims to reduce mundane tasks, allowing humans to focus on complex issues, empathy, and innovation. The "human in the loop" is still considered vital for oversight and decision-making. Responsible Adoption: Implementing AI requires a strategic, responsible approach that considers the workforce, fosters a positive culture, and drives genuine operational improvements rather than just surface-level changes. Democratizing Technology: AI tools have the potential to benefit businesses of all sizes, including niche and specialized insurers, by enabling custom application development and process optimization. The Road Ahead: While challenges exist, the focus is on embracing AI's potential to create new opportunities, improve productivity, and ensure the industry remains relevant and innovative. The key is a proactive and adaptive mindset. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Markets finally pulled back after a relentless momentum-driven rally, but history suggests parabolic advances rarely end quietly. Lance Roberts & Tom Thornton break down the growing signs of a speculative bubble forming beneath the surface of the market, from DeMark Exhaustion Sell Signals and narrow market breadth to surging semiconductor inflows, Korean market speculation, and rising energy-driven inflation risks. We examine why tech leadership is becoming dangerously concentrated, how crude oil and gasoline prices could reignite CPI pressures, and why the Fed may be effectively finished with rate cuts. We also discuss the "immediate gratification economy," emerging market weakness, fertilizer and commodity pressures, and the growing disconnect between market optimism and economic reality. Plus, we analyze why investors may want to diversify, take profits while they still can, and rethink the difference between long-term investing and speculative casino behavior. NOTE: This interview was pre-recorded on 5/7/26. 00:00 - Intro 1:20 - Market Correction, as Predicted 4:00 - Parabolic Spikes Have Happened Before 5:53 - There's a Bubble Brewing - Bullish Sentiment (slide) 8:53 - DeMark Exhaustion Sell Signals (slide) - what they are 10:54 - What the Signals are Saying (13's) 11:40 - Nasdaq 100 w DeMark Exhaustion Sell Signals 12:25 - Korean Kospi Index - Most Important in the World, next to U.S. 13:38 - GS Data Center & Memory Baskets (slide) 15:25 - SMH Semi's & EWY Korea ETF Inflows (slide) 18:35 - Memory Chip Price Gouge 20:56 - EWY Korean ETF 21:47 - QQQ vs SPX and SMH vs SPX Ratios (slide) 23:08 - Narrow Market Breadth 24:26 - Markets Regurgitate Same News, over and over 25:43 - Paul Tudor Jones: "United States has never been more dependent on the stock market than ever before." 26:41 - XLK Tech vs SPX & RSP Equal Weight vs SPX ratios (slide) 29:13 - Crude Traders are "in a bunker" on fears of Crude Oil draws 30:20 - Crude Oil Prices, Gasoline Prices, and CPI 33:33 - The Fed is Done 34:28 - What if...it's all about timing 36:15 - Are Emerging Markets Losing Their Luster? 38:26 - High Energy Prices' Impact on Consumer Spending into Foreign Markets 38:51 - Living in the Immediate Gratification Economy 39:33 - The Fertilizer Issue 40:43 - Gasoline Prices and the Lag-effect on CPI 42:11 - The Call to Take Profits While You Can 42:56 - Catalyst List: Crude, Bonds, Rates - This is a call to diversify 44:52 - Warren Buffett - Church vs Casino Investing (Why we sold our Berkshire stock) Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/s5pdp2zHltg ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketBubble #Nasdaq #Investing #FederalReserve

Today's guest sees the U.S. financial markets entering the final stage of a multi-decade topping process and the early innings of a 15–20-year regime shift driven by demographics, populism, deglobalization, and rising structural inflation.He believes we are on the cusp of a “lost decade-plus” in nominal equity returns and meaningful real losses if investors keep using  the old 40-year “buy-the-dip, stay long growth” playbook.How can we position ourselves to sidestep the worst of that, and perhaps even prosper in the years ahead?Well, let's ask the man himself.We're very fortunate to welcome back to the program Cem Karsan, Founder, CIO, and Managing Principal of Kai Volatility Advisors & Kai Wealth. He's widely known as @jam_croissant on X/Twitter.Cem thinks a perfect storm of troubles is brewing as the national pendulum swings away from supply-side economics and into populism.Follow Cem at https://www.kaivolatility.com/ or at https://kaiwealth.com/Or on X at @jam_croissantWORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com#volatility #populism #bearmarket _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video.Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/wp-content/uploads/2023/12/Thoughtful-Money-Disclosure-Document-12.6.23.pdf?pid=227Thoughtful Money Agreement: https://thoughtfulmoney.com/wp-content/uploads/2024/11/Thoughtful-Money-Agreement-Agreement.docx?pid=227IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.

The world of systematic investing is evolving fast, and in this episode Nick Baltas joins Moritz Seibert to explore the explosive growth of QIS strategies, the current state of trend following in 2026, and the challenges facing systematic investors in today's macro environment. They discuss crowding risks in quantitative strategies, the recent collapse in commodity curve carry, and why some trend managers continue to outperform through broader diversification and alternative markets. The conversation also dives into execution alpha, AI driven research workflows, inflation risks, and the ongoing institutional demand for systematic macro strategies. A sharp and highly practical discussion for anyone interested in trend following, QIS, commodities, and quantitative investing.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Nick on Twitter.Follow Moritz on LinkedIn.Episode TimeStamps:00:00 – Introduction to the episode01:17 – Nick Baltas on AI, research, and market volatility03:02 – Trend following performance update for May 202606:25 – What investors are focusing on in QIS strategies10:14 – Is there cyclicality in investor demand for QIS?15:25 – Wall Street Journal article on the growth of QIS17:15 – Crowding risks and overlapping systematic strategies24:15 – Can hedge funds front run QIS trades?27:46 – Commodity curve carry explained30:48 – Largest drawdown ever for commodity curve strategies33:59 – Is now the right time to buy commodity curve carry?37:20 – Why some curve carry implementations still made money40:01 – Trend following performance across alternative vs traditional markets44:21 – Why broader trend portfolios may improve Sharpe ratios47:22 – Listener question: Is there alpha in execution?49:53 – How CTAs think about execution and slippage53:50 – Why trend following on single name equities is rare57:58 – Chesapeake's single name trend approach59:04 – Final thoughts and wrap upCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Markets head into the holiday weekend with investors balancing Fed speculation, rising valuations and questions about the consumer. Our Matthew Peterson weighs in Kevin Warsh's confirmation and what changes could be ahead. Cameron Dawson, CIO at NewEdge Wealth, joins to debate whether investors should favor stocks or bonds from here. Nasdaq Private Market CEO Tom Callahan discusses soaring valuations and the company's new partnership with Polymarket. The focus turns to inflation and the consumer: Ron Shaich, Chairman of Cava, discusses food prices heading into Memorial Day weekend and explains how consumers are adapting to persistent inflation pressures. Plus, the growing race to bring more ETFs to market and closes with a look at the changing economics of entertainment as Julia Boorstin asks whether Star Wars movies still carry the same box office force they once did. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Unpacking Hyperliquid's ATH with Michaël van de Poppe. In today's Markets Outlook, Michaël van de Poppe, Founder and CIO of MN Capital and MN Fund, joins CoinDesk's Jennifer Sanasie to share why Hyperliquid is hitting new all-time highs. He makes the case for NEAR and Bittensor as undervalued AI crypto plays compared to overhyped tech IPOs, and explains why he's steering clear of privacy coins like Zcash. Plus, his key macro signals to watch over the next four to six weeks. - Timecodes: 00:00 - What Michaël Is Watching in the Markets? 01:47 - Why European Traders Are Flocking to Hyperliquid 02:59 - HYPE Price Target & HYPE vs. Solana 05:09 - Responding to CME, ICE Regulatory Scrutiny of HYPE 07:27 - Are Altcoins Dead? 08:59 - The Case for NEAR Over AI IPOs 10:43 - Why Bittensor Could Reach $1,000-$2,000 12:48 - Privacy and Zcash 16:33 - Macro Outlook: Yields, the Fed, and What's Next - This episode was hosted by Jennifer Sanasie.

Unpacking Hyperliquid's ATH with Michaël van de Poppe. In today's Markets Outlook, Michaël van de Poppe, Founder and CIO of MN Capital and MN Fund, joins CoinDesk's Jennifer Sanasie to share why Hyperliquid is hitting new all-time highs. He makes the case for NEAR and Bittensor as undervalued AI crypto plays compared to overhyped tech IPOs, and explains why he's steering clear of privacy coins like Zcash. Plus, his key macro signals to watch over the next four to six weeks. - Timecodes: 00:00 - What Michaël Is Watching in the Markets? 01:47 - Why European Traders Are Flocking to Hyperliquid 02:59 - HYPE Price Target & HYPE vs. Solana 05:09 - Responding to CME, ICE Regulatory Scrutiny of HYPE 07:27 - Are Altcoins Dead? 08:59 - The Case for NEAR Over AI IPOs 10:43 - Why Bittensor Could Reach $1,000-$2,000 12:48 - Privacy and Zcash 16:33 - Macro Outlook: Yields, the Fed, and What's Next - This episode was hosted by Jennifer Sanasie.

The AI economy looks unstoppable on the surface, but what is really happening underneath? Lance Roberts and Michael Lebowitz break down the massive surge in AI infrastructure spending, the role of hyperscaler CapEx in driving GDP growth, and whether AI is creating a stronger economy or masking deeper structural weaknesses. Here's a topical rundown of today's show: 0:00 - INTRO 0:53 - NVIDIA, AI, & Streamlining Workforce 5:41 - Market Sell Signals and Chances for Summer Correction 10:10 - Weakness in Economic Data is Transitory 14:53 - Oil Price Economic Impact - When Does it Hit? 16:36 - The AI Economy -Beyond the Hype 19:52 - How Will AI-generated Productivity Work Through Economy? 22:33 - Data Center Spending Impact on GDP Growth 26:41 - GDP per Capita per US States vs Internationals 29:40 - Every Economy Has a "K" 31:07 - What AI Can Do For You 32:33 - When Dire Predictions Don't Come True 35:52 - ...this doesn't mean we can't have a recession 37:44 - Points to Ponder from Latest NVIDIA Report 38:47 - Space-X (SPCX) IPO Preview Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer ------- Articles mentioned in this report: "The AI Economy: Looking Beyond The Facade Part 1" https://realinvestmentadvice.com/resources/blog/the-ai-economy-looking-beyond-the-facade-part-1/ "The NVDA Earnings Report: Could It Pop The Gamma Bubble?" https://realinvestmentadvice.com/resources/blog/the-nvda-earnings-report-could-it-pop-the-gamma-bubble/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/TeIhoqBT8dg ------- Watch today's "Before the Bell" feature, "Momentum Pause Before Summer Rally?" here: https://youtu.be/oWiPrlAYz5A ------- Watch our previous show, "Q&A Wednesday - Straight Talk About Your Money" https://youtube.com/live/ngEmjqsUFTY ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketCorrection #SP500 #Investing #MarketOutlook #ArtificialIntelligence #AIeconomy #StockMarket #EconomicOutlook #TechnologyStocks

The AI economy looks unstoppable on the surface, but what is really happening underneath? Lance Roberts and Michael Lebowitz break down the massive surge in AI infrastructure spending, the role of hyperscaler CapEx in driving GDP growth, and whether AI is creating a stronger economy or masking deeper structural weaknesses. Here's a topical rundown of today's show: 0:00 - INTRO 0:53 - NVIDIA, AI, & Streamlining Workforce 5:41 - Market Sell Signals and Chances for Summer Correction 10:10 - Weakness in Economic Data is Transitory 14:53 - Oil Price Economic Impact - When Does it Hit? 16:36 - The AI Economy -Beyond the Hype 19:52 - How Will AI-generated Productivity Work Through Economy? 22:33 - Data Center Spending Impact on GDP Growth 26:41 - GDP per Capita per US States vs Internationals 29:40 - Every Economy Has a "K" 31:07 - What AI Can Do For You 32:33 - When Dire Predictions Don't Come True 35:52 - ...this doesn't mean we can't have a recession 37:44 - Points to Ponder from Latest NVIDIA Report 38:47 - Space-X (SPCX) IPO Preview Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manager, Michael Lebowitz, CFA Produced by Brent Clanton, Executive Producer ------- Articles mentioned in this report: "The AI Economy: Looking Beyond The Facade Part 1" https://realinvestmentadvice.com/resources/blog/the-ai-economy-looking-beyond-the-facade-part-1/ "The NVDA Earnings Report: Could It Pop The Gamma Bubble?" https://realinvestmentadvice.com/resources/blog/the-nvda-earnings-report-could-it-pop-the-gamma-bubble/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/TeIhoqBT8dg ------- Watch today's "Before the Bell" feature, "Momentum Pause Before Summer Rally?" here: https://youtu.be/oWiPrlAYz5A ------- Watch our previous show, "Q&A Wednesday - Straight Talk About Your Money" https://youtube.com/live/ngEmjqsUFTY ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #MarketCorrection #SP500 #Investing #MarketOutlook #ArtificialIntelligence #AIeconomy #StockMarket #EconomicOutlook #TechnologyStocks

Ivan Feinseth, CIO at Tigress Financial speaks on Nvidia's earnings, the news of OpenAI and SpaceX filing for an IPO and latest thoughts on tech stocks with Bloomberg's Tom Keene and Paul Sweeney. See omnystudio.com/listener for privacy information.

My guest today is Gavin Baker, founding partner and CIO of Atreides Management, and this is our sixth conversation. The central theme is watts and wafers, the two physical constraints that in Gavin's view will dictate the next phase of AI. On power, he thinks the near-term shortage starts to ease in 2027 and 2028 as new sources of energy come online, and that orbital compute solves it in the long term. On wafers, he explains what is different this time from the dotcom bubble and why TSMC's capacity decisions may be the single most important variable to watch. We also discuss Elon's Terrafab, the disaggregation of GPUs, the role of new chip companies, and whether the economic value of AI will keep accruing to frontier models. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgelineapps.com⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Gavin Baker Intro (00:03:32) Anthropic's Record ARR Growth (00:11:49) Should OpenAI and Anthropic Raise at a Much Higher Valuation? (00:13:23) How Elon Preserves Investor Trust (00:14:00) Watts & Wafers (00:15:45) Data Centers in Space Explained (00:20:51) Orbital Compute's Impact on Terrestrial Data Centers (00:26:24) TSMC Supply Discipline & Bubble Risk (00:30:50) Demand for Frontier Tokens & The Bitter Lesson (00:35:33) Continual Learning & Memory (00:40:01) New Chip Companies & Startups (00:42:49) Prefill vs. Decode Disaggregation (00:48:40) AI-Native Founders: Different & Hard (00:51:27) Token Path & Application Layer (00:56:13) How Gavin Uses AI in Atreides (01:00:06) Signs of a Diversity Breakdown (01:05:42) Google, Meta, Amazon, Microsoft (01:11:42) Broader Knock-On Effects of AI

Hari Krishnan joins Niels and Cem for a deep exploration of what happens when markets become dominated by flows rather than fundamentals. Drawing on his new paper with Mike Green and Stefan Sturm, Hari explains why rising passive ownership may weaken price discovery, amplify concentration in mega-cap stocks and create conditions for reflexive instability. The conversation expands far beyond indexing, touching on volatility targeting, leverage, dispersion, inflation, government intervention and the growing dependence of the global economy on rising asset prices. Along the way, Cem and Hari debate whether policymakers can continue stabilizing an increasingly fragile system, what could trigger a structural break, and how investors should think about positioning in a world where flows may matter more than fundamentals.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Cem on Twitter.Follow Hari on LinkedIn.Episode TimeStamps: 00:00 - Hari warns about a fragile financial system dependent on a handful of decision-makers01:06 - Niels introduces Hari's new paper with Mike Green and Stefan Sturm03:00 - Why passive investing may weaken the link between fundamentals and prices08:40 - The key assumptions behind the model12:49 - How passive adoption accelerated structural market changes15:11 - Cem explains why markets may now drive the economy rather than reflect it23:38 - Can policymakers control a complex financial system?27:03 - How passive flows amplify mega-cap concentration31:22 - The changing role of dispersion, volatility and positioning41:04 - What the model suggests about instability at high passive ownership levels46:21 - Why 2022 may have been a warning sign51:55 - Inflation, government intervention and the limits of market control55:33 - What could trigger a systemic break?01:07:28 - Political and demographic pressures beneath the system01:10:43 - Hari's portfolio implications: stay long, hedge smartly and own inflation sensitivityCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Markets are hitting new highs while volatility, inflation concerns, interest rates, and geopolitical risks continue to pressure investors. Lance Roberts and Danny Ratliff answer your questions about investing, retirement planning, portfolio management, taxes, market risk, Federal Reserve policy, and the economy. From market momentum and valuation risks to retirement income strategies and financial planning mistakes, this is your opportunity to get straightforward answers without Wall Street spin. Here's a topical rundown of today's show: 0:00 - INTRO 0:57 - Markets Trying to Sell-off 6:17 - Market Comparisons 11:19 - Not Reading the News is Better 12:08 - Is TLT a Good Buy Now? 15:40 - What to Do with Cash 16:40 - Can Bond Yields Go Over 5.5%? 19:08 - Will There Be Inflation from SCOTUS Ruling on Trucker Broker Liability? 20:14 - What Would Trigger Differentiation from Standard Correction or Worse? 23:50 - Higher Oil = Higher Treasuries? 28:26 - Space Stocks, Momentum Trading, & Space-X IPO 31:27 - The Roth Conversion Conundrum 33:53 - APLD Positioning & Short Squeeze 36:21 - Correlation of Assets - What to do when trades don't work 40:46 - Microsoft, AI, & Layoffs 41:48 - What is Your Plan for a Market Downturn? 49:14 - Social Security Reform - Raising Minimum Retirement Age? 55:02 - In What Sector will Space-X Be Placed? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Articles mentioned in this report: "The NVDA Earnings Report: Could It Pop The Gamma Bubble?" https://realinvestmentadvice.com/resources/blog/the-nvda-earnings-report-could-it-pop-the-gamma-bubble/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/ngEmjqsUFTY ------- Watch today's "Before the Bell" feature, "Market Decoupling Danger," here: https://youtu.be/uDPuWbEqO-E ------- Watch our previous show, "U.S. - Iran Risks You Cannot Ignore" https://youtube.com/live/YT_BHXcoydw ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #BullMarket #MarketCorrection #FederalReserve #Investing #Investing #Retirement #FinancialPlanning #SocialSecurity #SpaceXIPO

Markets are hitting new highs while volatility, inflation concerns, interest rates, and geopolitical risks continue to pressure investors. Lance Roberts and Danny Ratliff answer your questions about investing, retirement planning, portfolio management, taxes, market risk, Federal Reserve policy, and the economy. From market momentum and valuation risks to retirement income strategies and financial planning mistakes, this is your opportunity to get straightforward answers without Wall Street spin. Here's a topical rundown of today's show: 0:00 - INTRO 0:57 - Markets Trying to Sell-off 6:17 - Market Comparisons 11:19 - Not Reading the News is Better 12:08 - Is TLT a Good Buy Now? 15:40 - What to Do with Cash 16:40 - Can Bond Yields Go Over 5.5%? 19:08 - Will There Be Inflation from SCOTUS Ruling on Trucker Broker Liability? 20:14 - What Would Trigger Differentiation from Standard Correction or Worse? 23:50 - Higher Oil = Higher Treasuries? 28:26 - Space Stocks, Momentum Trading, & Space-X IPO 31:27 - The Roth Conversion Conundrum 33:53 - APLD Positioning & Short Squeeze 36:21 - Correlation of Assets - What to do when trades don't work 40:46 - Microsoft, AI, & Layoffs 41:48 - What is Your Plan for a Market Downturn? 49:14 - Social Security Reform - Raising Minimum Retirement Age? 55:02 - In What Sector will Space-X Be Placed? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Articles mentioned in this report: "The NVDA Earnings Report: Could It Pop The Gamma Bubble?" https://realinvestmentadvice.com/resources/blog/the-nvda-earnings-report-could-it-pop-the-gamma-bubble/ ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/ngEmjqsUFTY ------- Watch today's "Before the Bell" feature, "Market Decoupling Danger," here: https://youtu.be/uDPuWbEqO-E ------- Watch our previous show, "U.S. - Iran Risks You Cannot Ignore" https://youtube.com/live/YT_BHXcoydw ------- * REGISTER for our next Dynamic Learning Series presentation, "A SimpleVisor Tutorial," Thursday, June 4, 2025 at Noon: https://streamyard.com/watch/MwairsimgmnS -------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #BullMarket #MarketCorrection #FederalReserve #Investing #Investing #Retirement #FinancialPlanning #SocialSecurity #SpaceXIPO

Despite recent pressure on stocks, our CIO and Chief U.S. Equity Strategist Mike Wilson argues that earnings and AI's impact remain stronger than many investors appreciate.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today on the podcast I'll be discussing our bullish mid-year outlook and why stocks have been under pressure more recently. It's Tuesday, May 19th at 1:30 pm in New York. So, let's get after it. Every cycle has a moment when investors become so focused on the last risk that they miss the next opportunity. I think we're in one of those moments right now. The first half of this year has had a familiar feel to it. The market weakened under the surface well before the headlines got loud, investors discovered the new risks after prices had already moved, and sentiment got worse just as the forward setup was getting better. In other words, it's déjà vu all over again – but with some important twists. The biggest twist is where we are in the cycle. Last year, we were still coming out of the tail end of a rolling recession. Today, we're in a rolling recovery and that is still underappreciated. This matters, because it changes how we should interpret the correction earlier this year and a powerful rally. In the first quarter, many investors looked at the S&P 500's less-than-10 percent price decline and concluded the market was complacent. I think that really misses the point. Roughly half of the Russell 3000 saw drawdowns of 20 percent or more, and the S&P 500 forward Price Earnings multiple fell by 18 percent from its peak as forward earnings continued to rise. That is not complacency. That is a market doing what it does best – discounting risk before the narrative catches up. And those risks were not small. We had private credit concerns, and a major debate around AI disruption to labor markets as well as a new war that drove oil prices up by 100 percent. In many of the areas most directly exposed to these risks, the market delivered 40 percent-plus corrections. So the provocative question I would ask now is this: what if the biggest risk from here is not being too bullish, but being too cautious after the market has already done the work? We address these questions in our recently published mid-year outlook. Specifically, we raised our 12 month S&P 500 price target to 8,300 based solely on higher earnings forecasts. In fact, we assume some further valuation compression. We raised our S&P 500 EPS by approximately 5 percent as operating leverage from the rolling recovery, AI adoption, fiscal support and a capex cycle that continues to broaden. That earnings point is critical. In prior cycles when oil shocks ended the business cycle, earnings were already decelerating or contracting outright before the shock hit. Today, the opposite is happening. Earnings are accelerating from already strong levels. First-quarter median S&P 500 earnings surprise was 6 percent, the strongest in four years; and earnings revisions breadth has moved back up to 22 percent from just 5 percent at the start of reporting season. That is a very different backdrop than the traditional late-cycle oil shock playbook. AI is another area where I think the consensus has evolved. The labor market disruption narrative has moved faster than the actual implementation. The enterprise application layer is still early, and for now, AI looks more like a margin tailwind than a labor-market wrecking ball. Companies are running leaner, hiring less, and beginning to quantify real benefits rather than simply firing everyone. While true adoption of this technology is likely to be slower than anticipated, the apprehension to over-hire is real and that is driving higher profitability in an indirect way. Monetary policy and liquidity are still the main risks to this bull market rising unimpeded. With the Fed becoming less dovish and liquidity needs rising, interest rates are on the rise and the equity-rate correlation is negative again. The 4.5 percent level on the 10-year Treasury remains important for valuations. We don't need Fed cuts for the equity market to work. History suggests that when earnings growth is strong and the Fed is on hold, returns can still be very solid. The real risk is liquidity – whether the Fed and Treasury underestimates how much capital the private economy now needs to fund investment and recovery.Ultimately, the Fed and Treasury have tools to address these liquidity needs and they have been using them aggressively this year. However, these provisions can ebb and flow and we are currently in a window where it's going to ebb, leaving stocks vulnerable in the short term. If the correction persists, investors should use that as an opportunity to add exposure to the parts of the market that benefit from a rolling recovery, specifically Industrials, Financials, Consumer Discretionary Goods. The breadth of the earnings and capex cycle remains under-appreciated, not to mention the recovery from the rolling recession that ended with Liberation Day a year ago. The bottom line is simple. The correction earlier this year was more significant than most appreciate in terms of valuation and the earnings story is only getting better. The path won't be smooth, so use any corrections to position for the continued broadening in earnings that we believe will continue.Just remember, by the time the evidence feels obvious, the opportunity is usually gone. Thanks for tuning in; I hope you found it informative and useful. Let us know what you think by leaving us a review. And if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out! And I wish my wife a happy birthday.

How can enterprise IT folks prepare for the age of Mythos? Anthropic says its Claude Mythos model is so much better at finding software vulnerabilities that it has delayed public release. Instead Anthropic launched Project Glasswing to give IT infrastructure and software makers early access, so they can have some lead time to address vulnerabilities... Read more »

Have you ever seen Schitt's Creek? No? You really need to watch it. That's advocacy. And it's older than marketing itself - somebody took a bite of something and said, “You gotta try this.” Jason Grunberg, CMO of Forter, didn't watch the show until he got sick and had nothing else to do. By the time he was better, he was binge-watching instead of resting. In this episode, he breaks down what Schitt's Creek teaches B2B marketers about pointy characters, ownable positioning, brand as a bank, and why the transformation story is the only story worth telling. Together, we dig into why “safe is not where we make really strong emotional bonds,” what the Rosebud Motel's rebrand can teach any B2B company trying to differentiate, and why AI inflation has already made “AI” a meaningless differentiator. About our guest, Jason Grunberg Jason Grunberg is CMO at Forter, the identity intelligence platform for digital commerce. With a background spanning agency and in-house roles across B2C and B2B, he brings a rare perspective on what it means to treat every buyer as a consumer - because at the end of the day, a wrong decision costs someone their job, and nothing is more personal than that. What B2B Marketers Can Learn From Schitt's Creek Advocacy is the root of every decision. Jason didn't watch Schitt's Creek because of the awards or the marketing. He watched it because people he trusted kept telling him to. His takeaway for B2B: “Advocacy has been a core part of marketing and brand forever for anything. This is coded almost into the human experience - advocacy is the root of like how we end up making decisions and choices.” Before you chase the next channel, ask whether you're creating the conditions for your customers to tell their colleagues, “You really need to try this.” Pointy characters resonate more than representative ones. The safest instinct in B2B marketing is to round off your personas until they feel inclusive. Schitt's Creek did the opposite - and it's why strangers kept telling Jason the show was basically his family. Ian's takeaway: “The more pointy you make it, the more weird, the more absurd, it actually will resonate that much better.” Stop asking whether every CIO will see themselves in your story. Make the character want something specific, and trust the audience to find themselves in it. Brand is a bank - and technology is never the real differentiator. The Rose Apothecary didn't succeed because of its product formulas. It succeeded because of the experience, the distinctiveness, the emotional value. Jason connects it directly to his work at Forter: “Quality is replicable, at least now more so than ever. The brand has to mean something.” On technology positioning, he's blunt: “If there's always the push from your product team to be like, ‘This is the core differentiator,' I'm like, ‘Cool. That is 2,000 lines of code deep. That sounds really replicable. And it doesn't say I'm getting a raise if I buy this.'” “Safe is not where we make really strong emotional bonds. On the edges is where we do that - because on the inside, there's a lot of edge. We've just been conditioned to not show it all the time.” - Jason Grunberg Time Stamps [1:25] Meet Jason Grunberg, CMO of Forter [2:17] Why Schitt's Creek? The Show That Felt Like His Family [4:53] Jason's Role at Forter: Decisions AI and Customer-Centric Marketing [5:56] What Is Schitt's Creek? Character Development as a Foundation [12:11] Marketing Lesson #1: Advocacy Is Coded Into the Human Experience [15:56] Marketing Lesson #2: Pointy Characters Win — Stop Regressing to the Mean [23:14] B2B Is Still Consumer: Everyone Is a Person Making a Personal Decision [26:35] Marketing Lesson #3: Brand Experience — Rose Apothecary and the Bank Analogy [29:11] Marketing Lesson #4: The Rosebud Motel and the Power of Positioning [32:18] The Name, the Pun, and the Juxtaposition of Lowbrow and Highbrow [36:21] The Audacity of the Arc: Why Schitt's Creek Ended on Purpose [39:07] Final Thoughts and Takeaways Links Connect with Jason on LinkedIn Learn more about Forter About Remarkable! Remarkable! is created by the team at Caspian Studios, the premier B2B Podcast-as-a-Service company. Caspian creates both nonfiction and fiction series for B2B companies. If you want a fiction series check out our new offering - The Business Thriller - Hollywood style storytelling for B2B. Learn more at CaspianStudios.com. In today's episode, you heard from Ian Faison (CEO of Caspian Studios) and Meredith Gooderham (Head of Production). Remarkable was produced this week by Meredith Gooderham, edited by Jon Goldberg, and our theme song is “Solomon” by FALAK. Create something remarkable. Rise above the noise. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we are joined by Yoav Git and Rob Croce from Fidelity Investments for a deep dive into trend following, portfolio construction and execution in modern markets. The conversation explores why crisis alpha may come more from beta timing than market selection, the logic behind betting against beta, and how quantitative investors think about diversification, carry and relative value strategies. Along the way, the trio discuss Japan's rising bond yields, momentum investing, execution risk during crises and even how ChatGPT helped solve a 60-year-old mathematical problem. This is a technical but highly practical discussion about how systematic investors build robust portfolios in a changing macro environment.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on LinkedIn and read his paper.Follow Yoav on Linkedin.Episode TimeStamps:01:57 - Rob Croce's path from economics to managed futures and trend following04:38 - Yoav on AI-assisted mathematics and solving a 60-year-old problem06:14 - Rob on out-of-sample testing and learning from market structure11:42 - Rising Japanese bond yields and the global bond market backdrop12:39 - Momentum investing and the growing popularity of trend-based strategies17:04 - Current trend following environment across equities, bonds and commodities19:13 - “Betting Against Beta” and why low-beta portfolios may outperform25:43 - The role of leverage aversion and diversification in factor investing34:26 - Rob Croce's paper: where crisis alpha really comes from40:31 - Why beta timing drives much of trend following's defensive behavior47:46 - Can carry improve trend following without sacrificing crisis alpha?51:51 - Execution algorithms, risk reduction and trading during crises57:46 - Why correlation spikes matter for portfolio execution and liquidity01:04:05 - Final thoughts and where to find Rob Croce's researchCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Today's guest is Tom Lee, CIO of Fundstrat Capital, PM for the Granny Shots U.S. Large Cap ETF, and the Head of Research at Fundstrat Global Advisors. Prior to co-founding Fundstrat, he served as J.P. Morgan's Chief Equity Strategist from 2007 to 2014. In today's episode, Tom explains why stocks have remained resilient despite war, higher oil prices, and widespread investor skepticism. He shares his outlook for the S&P 500 and discusses the coming wave of mega-IPOs. Finally, Tom covers his successful entrance into the ETF space with the Fundstrat Granny Shots ETFs. (0:00) Starts (1:35) Tom Lee on markets since the Iran war (10:02) Issues with the University of Michigan Consumer Sentiment Index (20:50) AI & upcoming IPOs (24:34) Granny Shots ETF (31:25) Tom on crypto (36:52) Tom's most memorable investment Visit ⁠www.fundstrat.com/tom⁠ for complimentary access to Tom's daily insights, market alerts, live webinars, and stock lists. ----- Sponsor: Want to learn more about 351 Exchanges? Visit the Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices