Podcasts about CFA

主播｜李叔 嘉宾｜大卫翁「起朱楼宴宾客」播客主理人李叔，一个把所有钱放在活期账户里的理财恐惧者。大卫翁，《起朱楼宴宾客》主播，前金融从业者，经历过三轮牛熊。他没推荐任何一只基金，而是先问：你清楚自己是谁吗？“（存款 + 未来20年收入×20）÷ 1万”——这个自由额度公式算出来的数字就是你可以不纠结直接花掉的单笔上限。很多人算完后第一反应是“怎么这么少”，但重点根本不是那个数字，而是它帮你分清了什么钱该省、什么钱不值得纠结。所以资产配置是每个人都逃不掉的，最该配置的也不是钱，是你对自己处境的认知。/timeline/02:14 为何不敢碰投资？李叔的卖房血泪史11:45 为什么非得理财？把钱全放活期不行吗？16:12 读多少书才能开始投资？19:21 什么是人力资产？24:29 自由额度公式：多少钱以下的消费，可以不用犹豫？43:02 赚了想跑、亏了死扛，这种心理怎么破？53:24 资产配置，没人教你，但你每天都在做01:06:08 资产配置的核心：认清周期，分散和再平衡01:17:37 乱纪元时代不要All in！01:23:01 投资是对世界观的投票，先搞清楚你是谁/新书推荐/《资产配置行动指南》利率在降，房价难涨，人的寿命也在变长。面对这些新变化，让资产安全、稳步增值，才是更现实的选择。资深金融人大卫翁建议，先从个人“三张表”入手——理清收入与支出、资产与负债、现金流入与流出。用真实数据说话，优化消费和收入结构，放大自己最宝贵的人力资本，把钱真正“理”出来。资产配置远不是买理财产品那般单调。大卫翁带你认识权益类、固收类、现金类、另类四大类资产，在不同的经济周期环境下，灵活运用这些武器可做到攻守兼备。同时，针对全球化的资产配置，教你打开视野，做聪明资金！资产配置是一生事业，需要良好心态与投资纪律！大卫翁用案例揭示了过度自信、处置效应等错误心态的危害，提醒大家警惕“不可能三角”，教你判断自己的风险承受能力。现在就盘活自己的资产，去做最适合自己的资产配置！大卫翁的新书《资产配置行动指南》已经上架到日光集市，感兴趣的听众可以点击下方链接前去购买～中信出版 | 资产配置行动指南（https://shop42397765.m.youzan.com/wscgoods/detail/2ok99rm3ayfn1ql?scan=1&activity=none&from=kdt&qr=directgoods_6297077251&shopAutoEnter=1）作者简介大卫翁“起朱楼宴宾客”公众号及播客主理人。特许金融分析师（CFA）持证人，2024第一财经“年度财经思想者”行业新锐，美国哥伦比亚大学新闻学院访问学者。逾15年金融从业经验，曾任中资头部投行董事总经理，以及国家外汇储备管理机构资产配置部门高级经理等职。本科毕业于西安交通大学少年班，硕士毕业于伦敦政治经济学院。作者简介大卫翁“起朱楼宴宾客”公众号及播客主理人。特许金融分析师（CFA）持证人，2024第一财经“年度财经思想者”行业新锐，美国哥伦比亚大学新闻学院访问学者。逾15年金融从业经验，曾任中资头部投行董事总经理，以及国家外汇储备管理机构资产配置部门高级经理等职。本科毕业于西安交通大学少年班，硕士毕业于伦敦政治经济学院。【收听平台】小宇宙｜喜马拉雅｜苹果播客｜网易云音乐｜荔枝｜蜻蜓FM｜QQ音乐｜酷我音乐｜酷狗音乐｜微博音频｜虎扑｜三联中读｜听听FM｜知乎｜豆瓣｜虎嗅｜猫耳FM｜Spotify｜YouTube｜关注我们｜日谈公园，曾获小宇宙年度热门播客、喜马拉雅品牌青睐播客、Apple播客年度最佳播客、网易云音乐年度语言播客、荔枝APP年度品质播客等多项殊荣，并发起“日光派对”播客MCN，提供播客经济相关服务。这些年，我们曾获得过以下这些荣誉，感谢各个平台一直以来的厚爱与支持。点击日谈公园品牌官网（链接：https://www.ritanbbpark.com/），了解更多微信公众号、微博、小红书、视频号、抖音、B站、今日头条：@日谈公园｜商务合作｜商务合作请加微信：mozoey

John Bowman, CEO of CAIA Association, returns to Alternative Allocations to discuss the ideas behind his groundbreaking report, "The World Rewired", and what they mean for the future of investing. Tony and John explore how AI is reshaping investment firms, how private markets are becoming increasingly accessible to individual investors, and what the rise of evergreen funds, tokenization, and the growing opportunity for private markets in retirement portfolios means for advisors and clients alike. They also examine the increasing convergence of public and private markets, the changing role of investor education, and why systems thinking—not just technical expertise—will define the next generation of investment professionals.  John was appointed CEO for the CAIA Association in January 2025. He has devoted 30 years to the asset management industry to recover the narrative of the value that the investment profession brings to society. He is a staunch public advocate for market integrity, long-termism, investor outcomes, diversity, human dignity and educational standards, as necessary ingredients to building a sustainable and healthy profession. John previously served as Managing Director for the Americas for CFA Institute, a region comprised of 40+ countries from Canada, the U.S., Central America, South America and the Caribbean. Before that, John was a portfolio manager for non-US equity strategies at both Boston Company and SSgA for several years. John is a prolific, speaker, writer and commentator, frequently keynoting industry conferences and appearing in investment and business publications such as the Wall Street Journal, The New York Times, Pension and Investments, Financial Advisor, The Independent, Wealthmanagement.com and CNBC. Bowman earned a BS in Business Administration from Mary Washington College and is a CFA charterholder.   Resources: John L Bowman, CFA | LinkedInCAIA - Chartered Alternative Investment Analyst AssociationFranklin Templeton Private MarketsTony Davidow, CIMA® | LinkedIn

As agentic AI pushes investment management toward greater autonomy, research points to credible risks that lie ahead. So, what happens when AI moves from assisting portfolio managers to actually making and governing investment decisions? Kevin Max, editor of Enterprising Investor, sits down with Irina Bevza, PhD, CFA, Head of Quantitative Solutions at Fineco Asset Management, Dublin, to explore the promise and faults of the self-driving portfolio. This episode explores what self-driving portfolios could mean for institutional asset management—and asks the bigger question for investment professionals: If AI can increasingly perform the work of the portfolio manager, where does human judgment remain essential?

Have you ever wondered why making good financial decisions can feel so difficult, especially when markets become uncertain?  Even experienced investors can find emotions influencing their decisions during uncertain markets. In this episode, Robert Curtiss welcomes Devin Ekberg, Senior Vice President and Senior Consultant in Advisor Education at PIMCO, for a thoughtful discussion about behavioral finance and the psychology behind investing. Together, they explain how fear, excitement, cognitive bias, and decision-making influence financial outcomes.  They explore how advisors help clients stay focused during periods of uncertainty, why process often matters more than prediction, and how thoughtful guidance can help people make clearer financial decisions over the long term. Key takeaways: How emotional and cognitive biases influence investment decisions during uncertain markets Why having a written investment process helps reduce reactive financial decisions over time How financial advisors help clients reframe fear into thoughtful, productive action Why trust, communication, and behavioral coaching strengthen long-term financial planning Books and behavioral finance concepts that help investors understand their own decision-making And more! Resources: Educational videos (bottom of the page) Thinking, Fast and Slow by Daniel Kahneman The Behavior Gap by Carl Richards The Behavioral Investor by Daniel Crosby Connect with Devin Ekberg: LinkedIn: Devin Ekberg Website: PIMCO Connect with Robert Curtiss: rcurtiss@seia.com (626) 795-2944 About Robert Curtiss  LinkedIn: Robert Curtiss Facebook: Robert Curtiss SEIA LinkedIn: SEIA About Our Guest: Mr. Ekberg is a senior vice president and senior consultant in advisor education at PIMCO. He provides training to financial professionals on advanced wealth planning topics, including retirement strategies, alternative investments, and goals-based wealth management. Prior to joining PIMCO in 2021, Mr. Ekberg was chief learning officer and managing director of professional development for the Investments & Wealth Institute (IWI), where he led the advisor education programs for advanced credentials in the financial industry. During his tenure at IWI, he oversaw the Certified Private Wealth Advisor (CPWA) certification education at the University of Chicago and led the acquisition and development of the Retirement Management Advisor (RMA) certification. He has 20 years of investment and financial services experience and holds a master’s degree from Creighton University. He is a CFA charterholder and holds the Certified Investment Management Analyst (CIMA) and CPWA designations.

What is money still supposed to do after it has already bought financial security? A larger balance sheet can expand your options, but it cannot decide which options make a life meaningful.Brian Portnoy, PhD, CFA, is the founder and CEO of Shaping Wealth, a global expert on the psychology of money, and the author of *The Geometry of Wealth*. After more than two decades across mutual funds, hedge funds, portfolio management, research, and investor education, Brian came to a blunt conclusion: investing is not only a math problem. It is a psychology problem.Sam and Brian examine "funded contentment", the ability to underwrite a meaningful life, and the four sources Brian uses to make that idea practical: connection, control, competence, and context. They discuss the moving definition of enough, what retirement can feel like when work supplied identity, and why experiences and relationships tend to outlast the pleasure of expensive objects.In this conversation:Why Brian left complex investment analysis for behavioral financeThe difference between being rich and being wealthyHow funded contentment turns meaning into a financial questionThe four C's: connection, control, competence, and contextWhy many of life's most valuable experiences carry a modest price tagRetiring from a career versus retiring toward a next chapterHow a $100 million portfolio can coexist with an empty lifeWhy the payoff from a luxury purchase often moves beyond the objectThe missing complexity premium in alternative investmentsWhy doing nothing may be the hardest part of compoundingIlliquidity as both behavioral guardrail and portfolio riskWhat volatility laundering hides in private-market reportingWhy investing outside a plan is speculationThe advisor's role as planner and behavioral coachHow social comparison turns everyone into your financial neighborTopics covered: psychology of money, behavioral finance, funded contentment, rich versus wealthy, financial planning, retirement purpose, alternative investments, complexity premium, private-market illiquidity, volatility laundering, investor behavior, wealth managementGuest: Brian Portnoy, PhD, CFA, founder and CEO of Shaping Wealth - https://www.shapingwealth.com/Newsletter: https://www.mechanicsofmoney.co  Website: https://silvermancapital.comSubscribe to Mechanics of Money for weekly conversations on private markets, alternative investments, and the mechanics behind building real wealth.#behavioralfinance #psychologyofmoney #fundedcontentment #financialplanning #alternativeinvestments #privatemarkets #wealthmanagement #investorbehavior #mechanicsofmoney

Brian Leonard, CFA, Portfolio Manager at Gabelli, discusses opportunities in small- and mid-cap stocks, the appeal of dividend-paying companies, and why corporate spinoffs can create attractive investment opportunities.  He also weighs in on themes shaping his portfolios and managing through market volatility.

Ben Carlson, CFA, author of Risk & Reward, joins the podcast to discuss why successful investing is often less about finding the perfect strategy and more about keeping things simple and sticking with a plan. We discuss the challenges of private equity, bonds and TIPS, inflation hedges, investor behavior, and why portfolio changes should generally be driven by life changes rather than market headlines. Ben also shares how his investing philosophy has evolved, including his thoughts on factor investing, momentum, and using a little “fun money” as a behavioral release valve. Finally, we dig into increasingly popular tax-aware strategies such as direct indexing and long-short tax-loss harvesting, including whether the potential tax savings are worth the added costs and complexity. Ben sums up much of the conversation with three words: “Less is more.” • • • Jon Luskin, CFP®, a long-time Boglehead and financial planner, hosts this episode of the podcast. The Bogleheads® are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki. Since 2000, the Bogleheads® have held national conferences in major cities across the country. In addition, local Chapters and foreign Chapters meet regularly, and new Chapters form periodically. All Bogleheads activities are coordinated by volunteers who contribute their time and talent. This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes: Ben Felix on Simplicity, Private Equity, Factor Investing, & Living a Good Life: Bogleheads® on Investing Episode 95 https://boglecenter.net/ben-felix-simple-investing/ Financial Historian Mark Higgins in Fireside Chat with Bill Bernstein https://youtu.be/tFeHc_tGh88 You Can Spend More in Retirement with Bill Bengen: Bogleheads® on Investing Episode 92 https://boglecenter.net/bill-bengen-spend-more-money-in-retirement/ TIPS Ladders with Kevin Esler https://youtu.be/FOKg3OmIHAI Owning Individual Bonds vs. Owning a Bond Fund https://awealthofcommonsense.com/2022/11/owning-individual-bonds-vs-owning-a-bond-fund/ Bogleheads®  Live with J.L. Collins: Episode 19 https://boglecenter.net/bogleheads-live-with-j-l-collins-episode-19/ 2025 Bogleheads Conference Recordings https://boglecenter.net/2025conference/ 2026 Bogleheads Conference https://boglecenter.net/2026conference/    

Jeremy Schwartz, CFA, Global Chief Investment Officer of WisdomTree Investments, joins Michael Gayed on Lead-Lag Live on the eve of WisdomTree's 20-year anniversary to discuss the growth-vs-value cycle, why home bias is quietly costing US investors return, and where the next phase of international diversification is headed. Topics covered: (00:00) Introduction and setting the stage (01:37) WisdomTree's 20-year evolution and $170B global footprint (02:40) Where we are in the growth-vs-value cycle (03:40) Why the US equity risk premium is misunderstood (real vs nominal) (06:15) WTV (US Value) and the Quality Growth Blend (QGRW) rebalance (07:18) WisdomTree's investment process: from pure index to active (08:52) Passive concentration, broadening leadership, and the case against home bias (10:57) Home bias is real - even at $170B AUM, models still tilt heavy US (13:33) Currency hedging: the case Jeremy has made for 15 years (15:41) DXJ, dynamic hedging, and OPPJ's flexible approach (18:50) Why Japan may be structurally overweight worthy (21:26) The case for Europe: contrarian, defense, and shareholder yield (25:00) Emerging markets rotation: from energy to tech (Samsung, TSMC, Hynix) (33:00) Farmland, gold, and multi-asset diversification (38:00) Closing thoughts on the next 20 years for WisdomTree Funds and products referenced: WTV - WisdomTree U.S. Value Fund QGRW - WisdomTree U.S. Quality Growth Fund DXJ - WisdomTree Japan Hedged Equity Fund OPPJ - WisdomTree Japan Opportunities Fund OPPE - WisdomTree European Opportunities Fund GEOA - WisdomTree Geopolitical Alpha Opportunities Fund GDE - WisdomTree Efficient Gold Plus Equity Strategy Fund GDMN - WisdomTree Efficient Gold Plus Gold Miners Strategy Fund About the guest: Jeremy Schwartz, CFA, is the Global Chief Investment Officer of WisdomTree Investments. He has been at WisdomTree since 2005, working alongside Professor Jeremy Siegel of the Wharton School on research covering global equity valuations, dividend strategies, currency hedging, and multi-asset portfolio construction. Jeremy leads the firm's investment function across the US and Europe and has been a leading voice on international diversification, currency hedging, and the case for shareholder-yield strategies for over 15 years. Where to find Jeremy and WisdomTree: Website: wisdomtree.com X: @WisdomTreeFunds Please see the WisdomTree Glossary for additional definitions of terms and/or indexes. The Lead-Lag Report: leadlagreport.com IMPORTANT INFORMATION For fund holdings and standardized performance visit: WisdomTree.com/investments INVESTORS SHOULD CAREFULLY CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUNDS BEFORE INVESTING. TO OBTAIN A PROSPECTUS CONTAINING THIS AND OTHER IMPORTANT INFORMATION, PLEASE CALL 866.909.9473, OR VISIT WISDOMTREE.COM/INVESTMENTS TO VIEW OR DOWNLOAD A PROSPECTUS. READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST. There are risks associated with investing, including potential loss of principal. Foreign investing involves currency, political and economic risk. Funds focusing on a single country, sector and/or funds that emphasize investments in smaller companies may experience greater price volatility. Investments in emerging markets, real estate, currency, fixed income and alternative investments include additional risks. Due to the investment strategy of certain Funds, they may make higher capital gain distributions than other ETFs. Please see prospectus for discussion of risks. Jeremy Schwartz is a registered representative of Foreside Fund Services, LLC. WisdomTree Funds are distributed by Foreside Fund Services, LLC, in the U.S. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Support the show

Financial media headlines keep warning about an impending "AI bubble." Is a crash coming, or is there more to the story? In a previous episode we argued that there is no AI Bubble. Nate Tonsager, CFA, CIPM doubles down on his position, taking a dive into the data to illustrate why current market conditions look very different from the 2000 tech crash. This episode breaks down the sectors like healthcare, financials, and consumer staples that are quietly outperforming tech. Nate also looks at how many companies beat their Q2 earnings estimates, why the market's price-to-growth ratio suggests stocks are fairly valued rather than overpriced, and what investors and CEOs are feeling about the economy right now.  The takeaway: We don't think the data points to an AI Bubble. And while market volatility is a certainty, you can stay in the driver's seat by keeping a data-driven outlook and financial plan that is positioned for the long term, with 12-24 months of cash on hand to buffer any downturns.   Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights: 00:00 - Why The AI Bubble Debate Persists 2:27 - Market Breadth Beyond Tech Leaders 6:20 - Earnings Strength Supports Stock Prices 12:32 - Valuation Through PE And PEG 18:29 - Sentiment Checks Investors And CEOs 25:16 - Mosaic Framework Plus Cash Planning 28:58 - AMA Invite Subscribe And Disclosures   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin. Learn more about our hosts on our website at https://monumentwealthmanagement.com  

You just received an inheritance. Now what? Before you sell investments, take distributions, pay off debt, or make a major purchase, it's important to understand exactly what you've inherited and the tax rules that come with it. In this episode, Tyler Emrick, CFA®, CFP®, walks through the biggest financial decisions that can come with an inheritance and explains why some seemingly simple moves can create unintended tax consequences. In this episode, Tyler covers: What to do first after receiving an inheritance. Why you shouldn't immediately liquidate inherited assets. Tax considerations for inherited brokerage accounts, IRAs, Roth IRAs, annuities, and real estate. How inherited IRA distribution rules can create tax planning opportunities. Why you shouldn't automatically keep the investments you inherit. How an inheritance can create an opportunity to rethink asset allocation and asset location. How an inheritance could change your retirement, tax, estate, and spending plans.   Our website:  https://www.truewealthdesign.com/  Phone: 855.TWD.PLAN Contact our team: https://www.truewealthdesign.com/contact-a-financial-advisor/  Schedule your no-cost discovery call: http://bit.ly/calltruewealth    Check out our other no-cost financial resources here: https://www.truewealthdesign.com/financial-resources/    Facebook: https://www.facebook.com/TrueWealthDesign/  LinkedIn: https://www.linkedin.com/company/true-wealth-design/  X: https://x.com/truewealthdesgn    Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1

Send us Fan MailDiscover the real story behind car wash multiples and what truly drives business valuations in the M&A market. Chris Jenks, CFA, partner at Amplify Capital Group, breaks down the complexities, explaining why a multiple is an output of deeper business quality, revenue durability, and operational excellence, not just a simple number. Learn about the dramatic evolution of the car wash industry, the recent reset in consolidation, and the metrics that matter most to discerning buyers and investors today. This episode is essential for car wash owners, operators, investors, and lenders looking to understand market trends and enhance their business value. What You'll Learn:Why car wash multiples reflect a deeper business story.The impact of market selectivity and discipline on M&A.Key metrics like membership penetration, churn, and labor efficiency that drive value.How to command a premium multiple in today's competitive landscape.The difference between average and premium assets in the current market.Amplify Capital Group's unique 360-degree view of the car wash sector.Whether you're considering a transaction or aiming for better daily operating performance, these insights will help you assess your business's strengths and areas for improvement. #CarWash #BusinessValuation #MMarket #CarWashIndustry #AmplifyCapitalGroupConnect With Us:https://www.facebook.com/AmplifyCapGroup/https://x.com/i/flow/login?redirect_after_login=%2FCarWashAdvisors%2Fhttps://www.linkedin.com/company/amplifycapgroup/https://www.youtube.com/channel/UCyy2-_zM-liZr95drgKDX3g

Au Sénégal, le Conseil constitutionnel a invalidé, mardi, la proposition de loi du Pastef, le parti d'Ousmane Sonko, sur l'encadrement des fonds spéciaux. Ces fonds de plusieurs milliards de francs CFA destinés aux présidents d'institutions sont exécutés jusqu'ici dans l'opacité sans aucune forme de contrôle. Le Pastef d'Ousmane Sonko et le Kiiraay, le parti du président Bassirou Diomaye Faye, s'accusent mutuellement.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Gavin Baiera, Senior Managing Director and Head of Performing Credit at Centerbridge, and David Marks, Executive Vice President at Wells Fargo Commercial Banking, to explore the evolution of direct lending and why relationship-based lending may offer a differentiated source of relative value.   Gavin and David discuss how lending to founder and family owned businesses differs from traditional sponsor backed transactions, with a focus on leverage, covenant structures, borrower behavior, and long standing banking relationships. They also explore how pairing commercial banking relationships with private credit underwriting can open access to a broader range of non sponsored opportunities, support greater diversification, and help investors evaluate risks related to liquidity, AI exposure, and shifting credit conditions.

Which financial pro do you need: a CFP, CPA or CFA? Plus, an economist explains why "good" economic data doesn't always feel that way. Hosts Sean Pyles, CFP®, and Elizabeth Ayoola sit down live, in-studio, with a listener named Belle, who's in the process of launching her own veterinary practice. They help figure out which financial professional she actually needs — a CFP, a CPA or a CFA. They break down what each credential means, how to vet and select the right advisor, and the real cost of choosing the wrong one. Then Belle asks for help with a second money question: whether to consolidate ten scattered retirement and brokerage accounts, and the Nerds walk through how account fees, old 401(k)s and employer rules factor into that decision. Then, Sean and Elizabeth are joined by NerdWallet senior economist Elizabeth Renter and senior news writer Anna Helhoski for a special send-off conversation. After 12 years at NerdWallet, Renter is moving on, and she looks back on what she's learned about how Americans really handle their money. They dig into the gap between headline economic data and lived financial experience, the K-shaped economy, and what NerdWallet's latest Consumer Financial Resilience Index says about household finances heading into fall. Here is the investing fee calculator Sean referenced: https://www.nerdwallet.com/investing/calculators/mutual-fund-calculator  Check out the full findings from NerdWallet's Consumer Financial Resilience Index: https://www.nerdwallet.com/finance/studies/financial-resilience-index Subscribe to our podcast's free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money's YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

Six years into the expansion, the commercial real estate cycle still looks early. Michael Bull, CCIM covers 2026 rates, supply, and office with BGO Chief Economist Ryan Severino, CFA. Ryan Severino, CFA, Chief Economist and Head of Research for the U.S. at BGO, explains why a cycle that is six years old still behaves like an early to mid cycle expansion. Debt sits at moderate levels, the labor market has room to run, and leverage has stayed disciplined. He sees runway left in the economy and in commercial real estate. The conversation covers where inflation and interest rates go from here, why the 10-year Treasury has trouble moving far off 4% on fundamentals alone, and how trade policy and the conflict in Iran are adding roughly 30 to 60 basis points to the long end of the curve. Severino also makes the case that today's rates only feel high because most people working in this industry have spent their entire careers in a market where the 10-year stayed below 5% for a quarter century. On the property side: the construction pipeline is the most benign on record relative to existing inventory, which means owners no longer need an outsized jump in demand to compress vacancy and restart rent growth. Severino explains why he is more constructive on office than most of the industry, drawing a direct comparison to how wrong the popular narrative on retail was for 15 years. Michael Bull adds a live example, a 17-story tower coming to market at $64 per square foot, below the cost of building out the space. The episode closes on what Severino calls a recovery out of order. In a normal cycle, capital markets recover first and space market fundamentals lag. This time fundamentals are recovering while elevated long-term rates hold the capital markets back. His view on the next 12 to 24 months: higher transaction volume, more attractive pricing, and a real estate return profile that compares well against a richly valued stock market. In this episode: 00:00  Where Are We in the CRE Cycle? What Inning Are We In? 01:08  Six Years In and Still Early Cycle: The Rain Delay Economy 03:17  Pandemic, Inflation, Trade War, Real War: A Fits and Starts Cycle 04:39  Inflation Resurgent: A Speed Bump, Not a Roadblock 06:37  The 10-Year Treasury: Why It Cannot Move Far Off 4% 07:58  A Quarter Century Below 5%: Today's Rates Are About Average 09:26  Michael's 17% Loan and Making Money at Higher Rates 10:28  Oil Prices and Iran: Why the U.S. Economy Shrugs Now 12:46  AI and Data Centers: Galactic Capital and Political Backlash 15:02  Record Low Construction: Why Supply No Longer Drives the Cycle 17:57  Office: The Contrarian Case and the Retail Playbook 20:07  A 17-Story Tower at $64 per Foot 20:42  Recovery Out of Order: Fundamentals First, Capital Markets Lagging 24:47  Relative Value: Real Estate Against a Richly Priced Stock Market 25:57  Final Takeaway: You Do Not Pay Today's Rate Forever Connect with Ryan Severino: https://www.linkedin.com/in/ryan-severino-cfa-4409022/ BGO Website: https://www.bgo.com Connect with Michael Bull & The Show: Michael Bull, CCIM Bull Realty, Inc https://www.linkedin.com/in/michaelbull/ For more commercial real estate market data, sector forecasts, and video episodes, visit CREshow.com. America's Commercial Real Estate Show is brought to you by our proud sponsors. TCN Worldwide: Commercial real estate property management, leasing, and sales solutions across the US and globally. Learn more: https://www.tcnworldwide.com Build Out: The ultimate product suite for commercial real estate brokerage firms looking to streamline their business. Learn more: https://www.buildout.com Bull Realty: Regional commercial real estate brokerage services headquartered in Atlanta, delivering market intel and strategies. Learn more: https://www.bullrealty.com Commercial Agent Success Strategies: Twenty-one cloud accessed commercial broker training videos with slide deck action notes. Learn more at https://www.commercialagentsuccess.com/ #CommercialRealEstate #CRE #RealEstateInvesting #CommercialRealEstateForecast #InterestRates #OfficeMarket #DataCenters #CapRates #RealEstateCycle #CREInvesting #Treasury #MichaelBull

Do you need a trust, or is a will enough? And even if your estate documents are complete, are your accounts and beneficiary designations actually set up to follow your wishes? In this episode, Tyler Emrick, CFA®, CFP®, breaks down the estate planning basics retirees should understand. From beneficiary designations and transfer-on-death instructions to wills, revocable trusts, irrevocable trusts, and powers of attorney, Tyler explains how the pieces of an estate plan work together. In this episode, Tyler covers: Why beneficiary designations and account titling should be one of your first estate planning reviews. What a will actually controls and why it doesn't avoid probate. When a revocable living trust may make sense. The key differences between revocable and irrevocable trusts. Why simply creating a trust isn't enough if assets aren't properly coordinated with it. The core estate planning documents retirees should consider. Why communicating your estate plan with family can be just as important as creating it. Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 20-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth   Our website:  https://www.truewealthdesign.com/  Phone: 855.TWD.PLAN Contact our team: https://www.truewealthdesign.com/contact-a-financial-advisor/  Check out our other no-cost financial resources here: https://www.truewealthdesign.com/financial-resources/  Facebook: https://www.facebook.com/TrueWealthDesign/  LinkedIn: https://www.linkedin.com/company/true-wealth-design/  X: https://x.com/truewealthdesgn  Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1

Stijn Schmitz welcomes Ted Oakley to the show. Ted Oakley is Founder and Managing Partner | Oxbow Advisors. The discussion explores investment strategy, focusing on long-term holdings, hard assets, and contrarian opportunities. Oakley emphasizes the importance of a longer investment horizon, typically holding stocks for three to ten years, while acknowledging that most traders focus on short-term moves, often using leverage and options—which he views as risky. He notes that his firm recently bought back gold, silver, and mining stocks after significant corrections, considering them cheap on a cash flow basis, and continues to hold energy positions. Oakley expresses caution regarding certain AI-driven tech companies, citing concerns about debt levels, earnings quality, and the sustainability of current growth. He sees parallels to the late 1990s and the potential for revaluation if commercial viability falters. He advocates maintaining liquidity to seize opportunities during market dislocations, often holding substantial short-term treasuries alongside gold as a currency hedge against dollar depreciation and long-term inflationary pressures from rising government debt and deficits. The conversation turns to gold, with Oakley viewing the recent pullback to around $4,000 as a buying opportunity for those with a multi-year outlook, expecting much higher prices driven by central bank purchases and de-dollarization trends. He sees gold miners and royalty companies as undervalued, noting strong balance sheets and wide profit margins relative to extraction costs. Silver is also considered attractive, though more volatile. On energy, Oakley highlights the sector's profitability even at moderate oil prices and the structural supply constraints from underinvestment. He recommends a diversified approach across producers, pipelines, and service companies, focusing on quality names bought at a discount to intrinsic value. He also discusses critical minerals and iron ore as part of a broader hard asset strategy to protect against currency debasement. Timestamps: 00:00:00 – Introduction 00:01:00 – Current Investment Opportunities 00:02:23 – Long-term Investment Horizon 00:05:05 – Microsoft and AI Concerns 00:09:37 – Liquidity and Market Risks 00:11:29 – Debasement and Hard Assets 00:14:36 – Gold Market Opportunity 00:18:19 – Silver vs Gold Thesis 00:28:34 – Gold Miners Landscape 00:31:30 – Royalty Companies Value 00:34:01 – Energy Sector Fundamentals 00:39:13 – Critical Minerals Exposure 00:46:35 – Wrap Up Guest Links: X: https://x.com/Oxbow_Advisors Website: https://oxbowadvisors.com YouTube: https://www.youtube.com/user/OxbowAdvisors J. Ted Oakley, CFA, CFP, is Managing Director and Founder of Oxbow Advisors. With more than forty years of experience in advising high net worth clients in the investment industry, Oakley implements the firm's proprietary investment strategies and the “Oxbow Principles” to provide a unique investment perspective. He is a frequent guest on FOX Business News, Bloomberg Radio, Thoughtful Money, The David Lin Report, and many more. Mr. Oakley is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP). He is a member of the Austin Society of Financial Analysts. He is also a Partner of Herndon Plant Oakley Ltd., an investment company. He is a Board Member of Texas State Aquarium, American Bank, and American Bank Holding Company. Mr. Oakley is a United States Army Veteran. Mr. Oakley began his career in Dallas, Texas, over 40 years ago. He is the author of Eleven books: You Sold Your Company, $30 Million and Broke, Rich Kids Broke Kids – The Failure of Traditional Estate Planning, Crazy Time – Surviving the First 12 Months after Selling Your Company, Wall Street Lies, Danger Time, My Story, The Psychology of Staying Rich, Your Money Mentality, Stay Rich with a Balanced Portfolio & his 2025 latest release: Second Generation Wealth. Mr. Oakley's primary philanthropic interest is helping children. He is Chairman Emeritus and Founder of the Foster Angels of South Texas, the largest foster child foundation in South Texas, as well as Chairman Emeritus and Founder of Austin, Texas-based Foster Angels of Central Texas. Also, President and Founder of Advocates for Foster Children Foundation. Mr. Oakley recently arranged for Foster Angels in South Texas to represent The Heart Gallery of Texas to further their adoption efforts.

What happens to your retirement portfolio when the next major market downturn arrives? Markets can spend years moving higher, making it easy to forget how quickly conditions can change. Preparing for uncertainty often starts long before volatility returns. In this episode, Robert Curtiss speaks with James St. Aubin, CFA®, CAIA®, Chief Investment Officer and Portfolio Manager at Ocean Park Asset Management, about protecting portfolios during market declines without relying solely on traditional diversification.  They explore trend following strategies, downside risk management, investor psychology, portfolio construction, changing stock and bond correlations, the strengths and limitations of AI investment tools, and why maintaining a disciplined investment process becomes increasingly important as retirement approaches. Key points: How trend following strategies seek to reduce large portfolio drawdowns through disciplined investment rules Why diversification alone may not provide enough protection during certain market environments How retirement timing changes an investor’s ability to recover from significant portfolio losses What recent bond market performance reveals about changing stock and bond correlations Why AI investing tools should support, rather than replace, thoughtful financial decision making And more! Resources: Educational videos (bottom of the page) Connect with James St. Aubin: LinkedIn: James St. Aubin Website: Ocean Park Asset Management Connect with Robert Curtiss: rcurtiss@seia.com (626) 795-2944 About Robert Curtiss  LinkedIn: Robert Curtiss Facebook: Robert Curtiss SEIA LinkedIn: SEIA About Our Guest: James St. Aubin, CFA®, CAIA®, is Chief Investment Officer and Portfolio Manager for Ocean Park Asset Management. He has oversight of all Investment Management department activities, in collaboration with Co-founders David Wright and Kenneth Sleeper. An experienced investment management executive, his career of more than 20 years includes leadership roles in asset allocation, manager research, and portfolio construction. James earned a Bachelor of Science in Finance from DePaul University and is a CFA® and CAIA® Charterholder.

Après plus de trois ans passés en détention, le chroniqueur Mohamed Youssouf Bathily, alias Ras Bath, et l'influenceuse Rokia Doumbia, « Rose Vie Chère », ou encore Tata Rose Poivron ont été condamnés lundi 17 août à dix ans de réclusion chacun, dont trois avec sursis, ainsi qu'à 240 000 francs CFA d'amende, par la chambre criminelle de la cour d'appel de Bamako. De longues années de prison donc. Pourquoi ? « Selon l'accusation, rappelle Maliweb, Ras Bath et Rokia Doumbia auraient conjugué leurs efforts pour jeter le discrédit sur les autorités de la Transition à travers des propos tenus lors d'émissions radiophoniques, de rencontres publiques et sur les réseaux sociaux. Rokia Doumbia était notamment accusée d'avoir imputé aux autorités de la transition la responsabilité de la hausse des prix des produits de première nécessité. De son côté, Ras Bath aurait accusé les autorités d'être responsables de la mort (en prison) de l'ancien Premier ministre Soumeylou Boubèye Maïga, affirmant que celui-ci n'était pas décédé de manière naturelle. Pour le parquet, la diffusion et l'amplification de ces déclarations sur les réseaux sociaux ont contribué à alimenter les tensions et à troubler l'ordre public. » Muselés « La répression des voix dissidentes continue au Mali, constate Jeune Afrique. Devant les juges, Ras Bath, qui est apparu en public pour la première fois depuis plusieurs mois, semblait amaigri et fatigué. Il n'en a pas moins vivement nié les accusations portées à son encontre. Rose Vie Chère a également tenté d'obtenir la clémence des juges, expliquant que son but était “d'avertir les autorités” sur les effets de l'inflation des produits de première nécessité. » Rien n'y a fait. « Lors de son réquisitoire, pointe Jeune Afrique, le ministère public s'est employé à démontrer la complicité supposée entre Ras Bath et Rose Vie Chère, arguant notamment que le chroniqueur radio avait invité l'influenceuse à deux reprises dans son émission. Le procureur a également résumé la volonté des autorités maliennes vis-à-vis des deux activistes : il a affirmé que Ras Bath était un “danger pour la transition", et qu'il convenait de “le tenir loin des réseaux sociaux et de la radio". C'est désormais chose faite », soupire le site panafricain. Paranoïa Ledjely en Guinée hausse encore le ton. Le site guinéen dénonce des accusations « pour le moins risibles » et un « verdict inique ». En effet, poursuit-il, « comment expliquer qu'une émission de radio somme toute ordinaire puisse conduire à une sanction aussi sévère ? Faudrait-il comprendre qu'il est désormais interdit de débattre de la vie chère dans le Mali d'Assimi Goïta ? Mais surtout, comment voudrait-on nous faire croire qu'en invitant Rokia Doumbia sur son plateau, Mohamed Youssouf Bathily se serait rendu coupable d'association de malfaiteurs ? (…) Cette condamnation renvoie du régime malien l'image d'un pouvoir apeuré, gagné par une forme de paranoïa, affirme encore Ledjely. (…) C'est lorsqu'on se sait vulnérable qu'on en vient à traquer la moindre contestation, y compris les débats les plus anodins. Or, dès lors qu'un pouvoir se convainc que sa survie ne tient plus qu'à sa capacité à inspirer la peur et la crainte, c'est le signe qu'il se trouve déjà au bord du précipice ». Au Burkina Faso, une « immersion patriotique » imposée aux journalistes À la Une également, la presse encadrée de très près au Burkina Faso. Une quarantaine de journalistes issus de médias publics et privés ont récemment participé à une formation militaire organisée par les autorités à l'Académie de police de Pabré, près de Ouagadougou. « Une immersion destinée à les familiariser avec les réalités des forces de défense et de sécurité engagées dans la lutte contre les groupes armés », relate Afrik.com qui s'interroge : « Immersion patriotique ou restriction de la liberté de la presse ? » Pour Sahel Horizon, site d'opposition aux régimes militaires sahéliens, la réponse est claire : c'est la « fabrique du consentement et de la propagande. L'État ne cherche pas à aiguiser le regard critique ou la vérification des faits ; il tente de transformer la presse en instrument d'alignement idéologique, réduisant l'information à une communication d'état-major. (…) Voilà l'imposture, dénonce encore Sahel Horizon : on promet une révolution, on installe une dictature. On promet la souveraineté, on confisque la parole ».

Strong Market Breadth The market typically begins to experience greater volatility around this point in midterm election years. However, one encouraging development is the strength and breadth of current market momentum. The S&P 500 continues to show broad participation, with the highest percentage of stocks trading above their 200-day technical moving average since 2024. Currently, approximately 74% of stocks are above their 200-day moving average. Broad participation like this is generally a positive sign for the overall health of the market. The internal momentum of the S&P 500 is also strengthening. Nine of the 11 sectors are showing better momentum than they were on June 22, with only energy and utilities showing weaker momentum. Taken together, these indicators point to a market with strong underlying momentum. While volatility can increase as the midterm elections approach, the current breadth of participation provides an encouraging foundation. For now, momentum is our friend. Inflation Continues to Evolve The latest Consumer Price Index, or CPI, provided some encouraging news on the inflation front. July CPI increased 0.1%, in line with expectations, bringing the year-over-year increase to approximately 3.5%. The fact that inflation did not come in higher than expected is important. While inflation remains elevated, the latest reading does not suggest that prices are accelerating rapidly. For investors and consumers, however, the headline CPI number is only part of the story. Two important questions are what the Federal Reserve makes of the data and how inflation is affecting people in their everyday lives. The outlook for Federal Reserve policy has shifted as inflation data has evolved. At one point, markets were pricing in roughly a 50% chance of a rate hike at the Fed's September 16 meeting. Those odds rose to approximately 52% about a week ago but have since fallen to around 30%. Current expectations suggest that there may be one rate hike toward the end of the year, although there is still significant time for the outlook to change. Another useful measure is the “Common Man's CPI,” a proprietary index from Strategas that focuses on essential expenses, including food, energy, shelter, insurance, and children's clothing. These are expenses consumers generally cannot avoid or easily postpone. The Common Man's CPI increased 3.5% year-over-year in July, down from 3.7% in June and 4.6% in May. That deceleration is encouraging, but the longer-term impact of inflation remains significant. Since the middle of 2020, the Common Man's CPI has increased approximately 32%, while wages have risen about 28%. That gap helps explain why many consumers continue to feel the effects of inflation even as the rate of price increases slows. Prices may be rising more slowly, but wages have not yet fully caught up with the cumulative increase in the cost of essential goods and services. The trajectory of both inflation and wages will remain important as the year progresses. The Fed's Other Inflation Tool The Federal Reserve has several tools available to influence the economy, but two of the most important are interest rates and the Fed's balance sheet. Interest rates influence economic activity by making borrowing more or less expensive. The balance sheet works differently. When the Fed adds money to the financial system, it can support economic growth. When it reduces the amount of money in the system, it can help restrain growth and inflation. This second tool receives considerably less attention because its effects are less visible to consumers. Interest rates are relatively easy to understand because they directly affect mortgages, savings accounts, credit cards, and other forms of borrowing. The balance sheet is much less tangible. Earlier this year, the Federal Reserve was expanding its balance sheet through a process referred to as monthly net reserve management. The terminology is intentional because quantitative easing, or QE, has developed a negative association following the significant monetary stimulus implemented during the COVID-19 pandemic. Through net reserve management, the Fed injects capital into the banking system by purchasing Treasury securities from banks and replacing those securities with cash. Maintaining sufficient liquidity in the banking system is important, particularly during periods when large amounts of money are flowing out of the system for purposes such as tax payments. Beginning in December, the Fed was injecting approximately $40 billion per month into the banking system. That pace subsequently began to taper as leadership at the Federal Reserve changed. New Fed Chair Kevin Warsh has written extensively about the size of the Federal Reserve's balance sheet and the importance of eventually reducing it. One concern with simultaneously raising interest rates while expanding the balance sheet is that the two policies can work against one another. Higher rates are intended to slow economic activity, while an expanding balance sheet can add liquidity to the financial system. Under the current approach, the Federal Reserve has moved toward stopping the expansion of its balance sheet before relying more heavily on interest-rate increases. August marks the first month since the beginning of the year in which the balance sheet is not expected to expand. The implications could be important for consumers and the broader economy. Consider a simple example. If a consumer earns $100 per week and spends $50 on gasoline and $50 on groceries, an increase in gasoline prices to $60 would leave only $40 available for groceries. Unless the consumer has additional money to spend, higher costs in one area can lead to reduced spending elsewhere. Economists refer to this as demand destruction. For broad-based inflation to persist across the economy, there generally needs to be enough money available to sustain demand even as prices rise. If the money supply increases, a consumer who previously had $100 to spend might instead have $110, allowing spending to continue despite higher prices. That dynamic has been evident in recent economic data. As gasoline prices increased, spending in areas such as leisure and hospitality and retail sales remained surprisingly resilient. Ordinarily, higher gasoline costs might be expected to reduce spending elsewhere, but that demand destruction has been limited. One possible explanation is the additional liquidity that has been present in the financial system. August provides an important test. For the first time this year, the economy is facing higher energy prices without the same additional expansion of the Fed's balance sheet. That creates an opportunity to observe whether demand begins to weaken in other areas of the economy. How that dynamic develops could have meaningful implications for economic growth, inflation, and ultimately the stock market. Greg Powell, CIMA® President and CEO Wealth Consultant Email Greg Powell here Bobby Norman, CFP®, AIF®, CEPA® Managing Director Wealth Consultant Email Bobby Norman here Trey Booth, CFA®, AIF® Chief Investment Officer Wealth Consultant Email Trey Booth here Ty Miller, AIF® Vice President Wealth Consultant Email Ty Miller here Fi Plan Partners is an independent investment firm in Birmingham, AL, with a team of professionals serving clients across the nation through financial planning, wealth management and business consulting. The team at Fi Plan Partners creates strategies in the best interest of their clients using fee based investing. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Economic forecasts set forth in this presentation may not develop as predicted. No strategy can ensure success or protect against a loss. Stock investing involves risk including potential loss of principal. Securities and advisory services offered through LPL Financial, Member FINRA/SIPC and a registered investment advisor.The post Momentum is our Friend first appeared on Fi Plan Partners.

Tony Zhang PhD, CFA,  Jessica Noviskis CFA and Rich Excell CFA, CMT are back discussing the macro that matters for the markets. Treasury auctions that are struggling and a bond market that sees risks are one sign inflation is still a market concern. Does the equity market care?  Are we really going to get the rate hikes priced in? Join us to listen to our latest market thoughts and when you finish, reach out to CFA Society Chicago to get your Continuing Education credits!

En Côte d'Ivoire, les icônes du zouglou, Yodé & Siro, fêtent leurs 30 ans de carrière. Le groupe met en pratique une « danse philosophique », tout en abordant des sujets de la vie quotidienne, mais aussi des questions de société. À la veille de leur concert à Abidjan, samedi 15 août, au Sofitel Abidjan Hôtel Ivoire, le duo répond aux questions de RFI. RFI : Vous célébrez 30 ans de carrière. En 30 ans, comment est-ce que vous avez vu le zouglou évoluer ?   Siro : Vous savez, le zouglou a fait face à beaucoup de diversité de musique, mais le Zouglou est comme un arbre qui a de bonnes racines. Et vraiment, on a vu le zouglou évoluer. On a vu les premiers Zouglou avec Bilé Didié, Poignon, Sur'Choc et autres. Là, on voit la nouvelle génération qui n'a pas connu les tam-tams mais qui s'adaptent et qui font quelque chose de bon.   Il y a 30 ans et aujourd'hui 2026, qu'est-ce que vous avez pu adapter, changer dans votre style musical ?   Siro : Le zouglou s'adapte à tout, ça peut se chanter sur du zouk, du coupé-décalé, de la salsa. Le zouglou ce sont des chants philosophiques qui permettent à l'être humain de se recueillir et d'oublier ses soucis.   Quels sont les tubes que vous voulez nous faire revivre sur scène au cours du concert ?   Yodé : Il y a plein de chansons cultes et comme « La vie », comme « Antilaléca », comme «  Victoire ». « Victoire », on dirait que ça a traversé les frontières. Donc plein, plein de tubes.   Dans votre album Héritage qui est sorti en 2020, vous interprétez « Président, On dit quoi », ce titre posait un regard très critique par rapport à la gouvernance. Ça dénonçait notamment les mauvaises conditions de détention. Six ans plus tard, est-ce que vous avez l'impression que les choses ont réellement changé dans le pays ?   Siro : Quand on dénonce, je pense que ça avance. Aujourd'hui, tout le monde est là, le président Gbagbo est là, Blé Goudé est là, tout le monde est là. Notre pays avance, notre pays et notre pays grandit.   Qu'est-ce que vous répondez à ceux qui trouvent qu'aujourd'hui vous êtes de moins en moins critiques ?   Siro : Mais on ne peut pas critiquer tout le temps, on critique de manière objective. Donc une fois que tu as critiqué de manière objective, que tu vois que les choses s'améliorent, tu vas. Mais en même temps, faut faire attention parce que c'est un pays où il y a du monde. À chaque fois que tu vas envoyer des choses qui peuvent envenimer le pays, ce n'est pas bon, ce n'est pas à tout moment qu'il faut le faire.   Ces derniers jours, une partie du milieu culturel est vent debout par rapport à un décret publié par le ministère de la Culture, qui concerne notamment l'octroi de licences et le paiement d'une caution qui peuvent aller jusqu'à 10 millions de francs CFA pour organiser des spectacles. Est-ce que vous, vous comprenez ces inquiétudes ? Est-ce qu'elles sont fondées ?   Yodé : C'est une nouvelle qui m'a frappée comme ça. Je pense qu'il faut peser le pour et le contre. Ils n'ont qu'à attendre un peu d'abord. Après on va parler de ça. Voilà.   Siro : Vous voyez que même Yodé et moi, nous ne sommes pas du même avis. Le milieu du showbiz, c'est un travail et n'importe qui se lève pour devenir un promoteur. Quand il a un peu d'argent, il devient promoteur. Je pense que ça a été fait pour assainir le milieu. Mais en même temps, qu'ils prennent en compte aussi souvent des anciennetés, parce que 80 % des concerts en Côte d'Ivoire sont des pertes.   Pourquoi ? Parce que ce sont des petites structures qui les organisent ? Elles ne sont pas solides, pas formées ?  Siro : Les spectacles, ça ne rapporte pas toujours. Vous partez au Palais de la culture. 90 % des concerts du Palais de la culture sont des échecs. Les coûts des salles sont énormes et ce n'est pas facile.   Et du coup, qu'est-ce que vous vous suggérez en tant qu'artiste pour mieux structurer ce secteur ?   Siro : En fait, la démarche n'est pas mauvaise, mais qu'ils tiennent aussi de l'ancienneté de certains promoteurs qui se sont ruinés à force d'organiser des spectacles. Il faut qu'on trouve aussi une alternative pour que ces personnes restent toujours dans le milieu et qu'ils aient leur licence pour se relancer.   Au-delà de la musique, vous avez aussi un engagement au niveau de l'environnement ces dernières années. Vous faites du reboisement, vous êtes à près de 1200 hectares, reboisé si je ne me trompe pas. Mais en Côte d'Ivoire, on le sait, le couvert végétal a diminué de 90 %. On est encore loin du compte. Quand vous êtes sur le terrain, quelles sont les difficultés auxquelles vous vous heurtez ?   Siro : C'est la responsabilité des citoyens et ils n'ont pas un comportement éco-citoyen. On avait fait un reboisement à Assinie par exemple. Tu vois quelqu'un qui sort là-bas, qui met du feu à notre reboisement. Il y a tellement de choses et il manque aussi beaucoup de plants. Donc cette année, nous sommes en train d'ouvrir une pépinière que nous allons mettre à la disposition des gens gratuitement avec un suivi.   Yodé, voulez-vous ajouter un mot ?   Yodé : Ce que je voulais ajouter, c'était pour dire aux jeunes que ce que nous faisons comme reboisement, c'est pour notre pays. Donc ils n'ont qu'à se mettre en tête aujourd'hui que ce que nous faisons, c'est pour nos enfants. C'est pour que la Côte d'Ivoire retrouve son couvert forestier.  

If you've been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I'd encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you! There's a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you're ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)Episode #363 Topics·       Market Performance and Sentiment — 03:14, 05:18, 11:07·       Bull Market Dynamics and Insider Activity — 07:36, 13:28·       Housing Market and Interest Rate Outlook — 14:55, 15:17, 18:53·       Corporate Fundamentals and Valuation Trends — 20:32, 23:36, 27:05·       Income Trends and Socioeconomic Shifts — 30:26·       Retirement Planning and Risk Management — 32:04Show Notes:Post on X from Ryan Detrick on August 4th - https://x.com/RyanDetrick/status/2084662139361395176?s=20 Post on X from Jay Kaeppel on July 21st - https://x.com/jaykaeppel/status/2079624731943162251?s=20 Post on X from Charlie Bilello on August 11th - https://x.com/charliebilello/status/2087177215398084782?s=20 Article on Morningstar written by Amy Arnott, CFA on June 30th - https://www.morningstar.com/retirement/retirees-dont-need-fear-lost-decade-they-need-plan Hosts:Mark McEvily - Chief Investment Officer and Managing PartnerMatthew Jessup – Chief Executive Officer, Chief Compliance Officer, and Managing PartnerAddress: 35 Park Ave. Dayton, OH 45419Phone: 937-938-9105 https://www.jessupwealthmanagement.com/Social Media: Facebook: @JessupWealthManagement LinkedIn: @JessupWealthManagement Twitter: @jessupwealth Instagram: @jessupwealthhttps://www.jessupwealthmanagement.com/disclosures-page

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA sits down with Tom Milewski, Managing Director and Head of Portfolio Management at Deerpath Capital, to discuss why active portfolio management can be just as important as underwriting in private credit. Tom explains how managers can use monthly financials, borrower-specific KPIs, dashboards, and early warning triggers to identify developing risks, learn from portfolio trends, and make more informed investment decisions.   They also explore where outcomes begin to diverge between private credit managers, the difference between covenant-light, covenant-loose, and meaningful covenant structures, and why reacting early to signs of stress can help preserve value. Tom also shares what insurance investors should consider when evaluating a private credit manager's approach to portfolio oversight, including how managers apply lessons learned and adjust their strategies over the life of an investment.

Most investors spend their time deciding what investments to own. Far fewer spend time thinking about where those investments should be held. In this episode, Tyler Emrick, CFA®, CFP®, breaks down one of the most overlooked tax planning strategies in retirement: asset location. Using research from Vanguard, Tyler explains how placing the same investments in different accounts—taxable, traditional IRA/401(k), and Roth—can improve after-tax wealth without taking additional investment risk. In this episode, Tyler covers: What asset location is—and why it's different from asset allocation. Vanguard's research on improving after-tax returns. Where different investments generally belong. Why Roth accounts deserve special consideration. Common mistakes investors make when organizing their portfolios. Why asset location should evolve throughout retirement.   Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 20-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth   Our website:  https://www.truewealthdesign.com/  Phone: 855.TWD.PLAN Contact our team: https://www.truewealthdesign.com/contact-a-financial-advisor/  Schedule your no-cost discovery call: http://bit.ly/calltruewealth  Check out our other no-cost financial resources here: https://www.truewealthdesign.com/financial-resources/    Facebook: https://www.facebook.com/TrueWealthDesign/  LinkedIn: https://www.linkedin.com/company/true-wealth-design/  X: https://x.com/truewealthdesgn    Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1

To learn more about valuable resources for entrepreneurs and business owners, please visit https://www.sbprou.com/Stage Three Success: How to Grow From Talented Technician to Confident CEO is covered in this podcast.***************************************In this episode of Leadership LIVE @ 8:05!, Andrew Frazier, MBA, CFA, is joined by business advisor and author Rob Young to tackle one of the most common—and costly—traps small business owners fall into: being great at their craft but struggling to run the business behind it.Drawing from his experience working with business owners across multiple industries, Rob introduces the three essential functions of every business—product making, customer getting, and navigating—and reveals why most owners neglect the navigation role until it's too late. Together, Rob and Andrew break down practical tools for understanding your numbers, building simple monitoring systems, and focusing on what Rob calls your Best and Highest Use (BeiHu)—so your business can grow without burning you out.Whether you're just getting started, hitting a growth plateau, or finally ready to step into the CEO role your business needs, this conversation will challenge the way you think about leadership, operations, and what it truly takes to scale.Because building a great business isn't just about knowing your craft. It's about learning how to run it.Rob Young is a former corporate executive, business advisor, and author of Stage Three Success. After watching several friends lose their small businesses due to the strain of growth, he made it his mission to help small business owners step into the CEO role their business needs. As principal of Stage Three Group, Rob makes corporate-level best practices and tools accessible to everyday entrepreneurs so they can scale with clarity, control, and confidence.LinkedIn: /stage3rob  Website: https://stage3group.com/

The private equity market in 2026 was supposed to rip. So why has it fallen flat? Devin sits down with Steven Buibish, CFA, Director of US Private Equity Research at PitchBook, to break down the first half 2026 data. Deal value in Q2 dropped 38% from Q1. Software dealmaking froze. Mega deals are doing all the heavy lifting, distorting every headline number, and yet prices haven't budged. We're sitting at 2021 valuation peaks while volume collapses and leverage dries up. They dig into what's actually happening beneath the surface: the HALO rotation into hard assets and data centers, the add-on economy holding up the middle market, why 60% of software deals in market aren't closing, the zombie fund overhang, DPI falling off a cliff post-2018, and why first-time fund counts have cratered. Plus: why 2026 could still be a great vintage if you're doing the right kind of deals — and Stephen's prediction on where the next wave of growth in PE is coming from. "Another False Start" report: https://pitchbook.com/news/reports/q2-2026-us-pe-breakdown Check out all of PitchBook's research at pitchbook.com.

How do you value a memory semiconductor stock like SK Hynix when no one can predict DRAM prices? Equity analyst Shan Rui Yeo walks through the team's Monte Carlo valuation framework: a discounted cash flow run through thousands of scenarios that prices the business on a distribution of returns rather than a single forecast. He also explains how two-times leveraged single-stock ETFs have been amplifying SK Hynix's daily price swings, why regulators and Korean brokers are responding to retail leverage, and why flow-driven volatility can be a gift for long-term investors. The through-line: memory can be cyclical, structurally growing, and wealth-creating all at once. 0:00 - Introduction & Disclaimer 0:21 - How Do You Value a Memory Stock Amid Huge Uncertainty? 0:54 - Monte Carlo Valuation: Pricing SK Hynix on a Distribution of Outcomes 5:27 - Day-to-Day Volatility: Fundamentals or Flows? 6:17 - How 2x Leveraged Single-Stock ETFs Amplify SK Hynix Price Swings 9:40 - What Investors Underappreciate About the Memory Industry 10:21 - Closing Thoughts & Subscribe Key Takeaways Key uncertain variables (DRAM prices, supply response, China risk) are modelled as ranges and run through thousands of scenarios; the output is a distribution of returns, treated stochastically. SK Hynix scenarios: bull (prices hold through the decade), realistic (decline from 2028 as supply arrives), bear (accelerated decline on over-investment and Chinese supply). The test is being paid adequately across the whole distribution, not picking the right scenario; the distribution centred around 12% with positive skew. New data points (LTAs signed, capacity expansion) update the distributions; position sizing follows the shape, and the team trimmed as the shares ran. Two-times leveraged ETFs rebalance by buying after rises and selling after falls, amplifying 10 to 15% daily moves in SK Hynix. Flow-driven volatility widens the gap between price and value, which long-term investors can use. Memory can be cyclical, structurally growing, and wealth-creating at the same time. Host: Rob Campbell, CFA, Institutional Portfolio Manager Guest: Shan Rui Yeo, CFA, Equity Analyst This episode is available for download anywhere you get your podcasts. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit us at: https://www.youtube.com/@MawerInvestment https://www.mawer.com https://www.linkedin.com/company/mawer-investment-management/ https://www.instagram.com/mawerinvestmentmanagement/ #ArtOfBoring #MawerInvestmentManagement #MawerInvestment #Podcast #Finance #Investing #semiconductor #tech #techexplained #memory #skhynix

Welcome back to the Alt Goes Mainstream podcast.Today's podcast takes us to the heart of London, where we sat down with Maggie Fanari, the CEO of J Rothschild Capital Management Limited, manager of RIT Capital Partners plc. RIT blends a rich heritage with a modern approach to both asset allocation and private markets. Lord Jacob Rothschild founded Rothschild Investment Trust in 1971. RIT listed on the London Stock Exchange with total assets of £280M. Today, the firm stands tall as one of the UK's largest investment trusts with over £4.7B of total assets.The firm's permanent capital and family office heritage have enabled the firm to think long-term, according to Maggie. “Permanent capital is a privilege,” she said.Maggie has brought an institutional allocator's background to RIT. She joined as CEO of RIT from Ontario Teachers' Pension Plan in 2024, where she was Senior Managing Director, Global Group Head of High Conviction Equities at OTPP, which has a global mandate to invest in public and private companies.Maggie and I had a fascinating discussion about how the firm invests across public and private markets, balancing both top-down portfolio construction and bottom-up asset selection. We covered:How RIT has aimed to compound wealth over time.Why top-down portfolio construction and bottom-up asset allocation are equally important.How can investors capture as much growth, limit market volatility, and compound growth over a long period of time?How RIT finds unique and different managers in private markets, which includes some of the top investors in the world.What market structure changes mean for investing across public and private markets?How to invest when the world order has changed.Taking a family office mindset and applying that investment mindset for investors in RIT.Why permanent capital is a privilege.How to be early to a theme rather than chase the trend.Why RIT decided to invest in SpaceX, Anthropic, OpenAI, Databricks, and Epic Systems.Where do investors bucket RIT into their asset allocation?What is a manager's edge and how can they apply that edge with consistency?Why depth of network matters for private markets managers.Why RIT invested in firms like Thrive, Greenoaks, and Ribbit.BioMaggie Fanari is the CEO of J. Rothschild Capital Management Limited (JRCM) , investment manager for RIT Capital Partners plc. She is Chair of JRCM's Investment Committee.Maggie was previously Senior Managing Director, Global Group Head of High Conviction Equities at Ontario Teachers' Pension Plan, which has a global mandate to invest in public and private companies.At Ontario Teachers', she served as a member of many of the pension plan's investment committees. She was involved in the execution of investments across a variety of asset classes (private and public), including supporting the development and execution of the venture and growth business.Before joining Ontario Teachers', Maggie worked at KPMG and Scotia Capital. Maggie is a chartered accountant and a CFA charter holder. She also holds a BBA from the Schulich School of Business at York University and ICD.D certification from the Institute of Corporate Directors.Maggie served as a non-executive director on the Board of RIT Capital Partners plc from April 2019 to February 2024.Thanks, Maggie, for sharing your wisdom, expertise, and passion across public and private markets and your thoughtful perspectives from your experiences as an institutional investor.This podcast was recorded on 15 June 2026, and therefore all RIT data is provided as at 31/05/2026. Show Notes00:42 Meet Maggie Fanari03:44 Teachers' Pension Roots04:51 Top Down Meets Bottom Up05:50 Allocating In New Paradigm06:15 Diversification Returns07:02 Volatility Creates Opportunity07:22 What Makes RIT Unique08:08 Compounding With Downside09:41 Brand Opens Doors10:05 Backing Emerging Managers11:57 Co-Invest Importance12:36 Returns And Realizations13:22 Great Co-Investor Playbook15:02 Building AI Theme Exposure16:06 Sourcing Deals Like SpaceX16:37 Public Private Value Split20:09 Public Themes And Sovereignty20:58 Moats And Terminal Value24:06 Permanent Capital Edge25:07 Oversubscribed Fund Access26:46 Underwriting And Discipline27:17 Why AI Needs Capital27:49 Anthropic Growth Math28:15 Databricks Scale Comparison28:41 Can Funds Get Bigger30:22 FOMO And Chasing30:47 Portfolio Allocation Guardrails31:47 Permanent Capital Advantage32:13 Right Sized Private Exposure32:51 Liquidity And Realizations33:28 Owning Winners At Scale34:11 Private To Public Hold34:41 Re Underwriting Post IPO35:38 Retail Investor Impact36:20 Public Market Liquidity Needs37:57 Why Investment Trusts Work38:56 Discounts As Margin Safety40:08 How Shareholders Allocate41:03 Sentiment Shifts In Cycles42:02 What Makes Great Managers43:14 Manager Edge Examples45:02 AI And Finding Leaders46:56 Consolidation And Differentiation47:51 Being A Great LP Partner48:50 Macro Lens As Edge49:42 Private Signals Inform Public50:48 Culture One Team One NAV51:28 Risk And Scenario Analysis52:59 Multipolar World Investing54:14 Geopolitics In Diligence55:10 Permanent Capital Best Of BothA Word from Our Sponsor, UltimusThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That's Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you're already in the market or thinking about entering private wealth, you can trust their team's deep expertise in retail alternatives to help you reach your goals.Learn more at ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Editing and post-production work for this episode was provided by The Podcast Consultant.

« Plus de trois ans après son arrestation, le chroniqueur et activiste Mohamed Youssouf Bathily, alias Ras Bath, a enfin vu son procès s'ouvrir lundi à Bamako, relève Afrik.com. À la barre, amaigri mais toujours combatif, il a rejeté les accusations qui pèsent sur lui, notamment "association de malfaiteurs", "atteinte au crédit de l'État, de ses institutions et de ses gouvernants par le biais des technologies de l'information et de la communication", ainsi que des infractions à caractère racial, régionaliste ou religieux. » Hier, pointe encore Afrik.com, « le ministère public a requis dix ans de prison ferme et 240 000 francs CFA d'amende contre Ras Bath. À l'encontre de sa coaccusée Rokia Doumbia, dite Rose Poivron, militante connue pour ses prises de position contre la vie chère, le parquet a demandé dix ans de prison, dont cinq avec sursis, ainsi qu'une amende de 240 000 francs CFA. La défense doit désormais présenter ses plaidoiries. » À lire aussiMali: à l'ouverture de son procès, l'animateur radio Ras Bath rejette les accusations d'atteinte aux institutions Important dispositif de sécurité Pas de commentaire dans la presse malienne qui se contente de rapporter les réquisitions du ministère public. Le site Maliweb indique toutefois que le procès se déroule « sous haute surveillance. Un important dispositif de sécurité a été déployé autour de la cour d'appel de Bamako, dont l'accès a été strictement filtré. (…) Même le stationnement des motos aux abords de la Cour a fait l'objet de restrictions. Cette mesure intervient, précise Maliweb, après des mouvements de foule et des tensions enregistrés autour du tribunal lundi, au premier jour du procès. Malgré les restrictions, plusieurs partisans de Ras Bath et de Rokiatou Doumbia étaient en effet présents aux abords de la Cour. » « Debout après trois ans de prison » Le site Sahel Horizon, site d'opposition à la junte réalisé par des auteurs en exil, le site Sahel Horizon dénonce un simulacre de procès et met en avant le courage de Ras Bath : « À la barre, après trois ans de détention, il a prononcé cette phrase : "Je ne soutiendrai jamais des militaires qui ont pris les armes contre les institutions de la République ; je suis un anti-putsch et c'est clair." Il faut mesurer ce que cette phrase renverse, s'exclame Sahel Horizon. Elle n'est pas une provocation de prétoire, elle est une profession de foi constitutionnelle. (…) Cet homme a été poursuivi hier sous un pouvoir civil qu'il combattait ; il est jugé aujourd'hui sous un pouvoir militaire qu'il refuse. Il n'a pas changé de position quand la rue a changé d'humeur, et il n'est pas devenu le chantre de l'ordre nouveau quand tant d'autres, avocats hier de la démocratie, sont allés chercher un fauteuil dans les antichambres. C'est précisément cette cohérence qui gêne, pointe encore Sahel Horizon, bien plus que les mots eux-mêmes. Un opposant que l'on peut acheter n'est pas dangereux, il est utile. Un opposant qui reste debout après trois ans de prison est un problème politique. » Fiction et réalité Enfin, toujours à propos du Mali, cette charge à lire sur le site guinéen Ledjely contre les autorités militaires, intitulée « Le bilan et le mirage sécuritaire » : « Au Mali, il y a d'une part la fiction que les autorités ont tendance à servir. Et de l'autre, l'implacable réalité que le pays et les populations endurent au quotidien depuis cinq longues années, affirme Ledjely. La fiction s'incarne notamment dans le discours que le Premier ministre Abdoulaye Maïga a prononcé jeudi dernier, pour dresser un bilan forcément élogieux des cinq années de transition que le pays vient de vivre. La réalité, elle, s'est manifestée trois jours plus tard, à travers l'attaque dont le camp de San, au centre du pays, a été la cible de la part des djihadistes du Jnim, affilié à al-Qaïda — une attaque qui a coûté la vie à 12 militaires maliens et permis aux assaillants d'emporter de nombreux équipements. » Et Ledjely de poursuivre avec ce commentaire : « Quand les responsables, en totale déconnexion avec la réalité, pavoisent au sommet, les populations, elles, triment et trinquent à la base. Si l'on veut dresser un bilan, il est précisément dans ce décalage, dans cette distance infinie qui sépare des autorités qui carburent au souverainisme pompeux et des Maliens d'en bas, tenaillés par un quotidien fait de larmes, de sang et de sueur. » À lire aussiMali: les jihadistes du Jnim attaquent un camp militaire de l'armée dans le centre du pays

Market pullbacks may actually work in your favor at tax time, if your portfolio is set up to take advantage of them. That's where direct indexing comes in. It's not about trying to time the market. It's a disciplined way to capture tax losses along the way, while helping to keep your investment mix and expected returns where you want them.  In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA break down why direct indexing is far more than a tax tool; it's a customizable strategy for every stage of your financial life. They explain how to build a "tax war chest" to offset future windfalls, ways to transition between portfolios or advisors without triggering a massive tax hit, and how to think about withdrawing cash in retirement. The TLDR: Direct indexing turns market sell-offs into tax-saving opportunities without pulling you out of the market. Whether you're building wealth, switching strategies, or funding retirement, harvesting losses helps keep your return profile intact and give you more control over your  tax bill. Investing is not just about what you make; it's about what you get to keep.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:  1:28 - Why Direct Indexing Matters 3:04 - How Tax Loss Harvesting Works 8:37 - The Hidden Value Of Customization 11:57 - Accumulation Phase And Tax War Chest 16:07 - Switching Advisors Without A Tax Bomb 21:57 - Retirement Cash Needs And Tax Control 24:41 - Timing Withdrawals To Maximize Offsets 26:18 - Important Disclosures 27:01 - Pogo Stick Analogy And Wrap-Up   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin.   Learn more about our hosts on our website at https://monumentwealthmanagement.com   

Send us Fan MailFinancial success grows when your money aligns with the life you truly want.Danqin Fang, CFP®, CFA, RLP®, founder and CEO of Wealth Beyond Math joined Tony on this episode of Get Ready Before Life Happens to talk about how holistic financial planning evolves through a process of awareness, clarity, and alignment. Even people who appear to have everything in place often feel held back by fear, scarcity, or limiting beliefs.This conversation explores how understanding your relationship with money helps you make more intentional decisions and build a more meaningful life.Key TakeawaysHolistic financial planning is an ongoing process, not a one-time plan.People who “have it all” can still feel stuck or unfulfilled.Scarcity and fear often shape financial decisions.Core beliefs about money serve a purpose and can evolve over time.Clarity about priorities helps you make more intentional choices.Awareness creates space to pause and choose differently.Money is a tool to support experiences, impact, and quality of life.

Join us for a lively conversation with James Vanreusel, founder of Vanreusel Ventures, as he shares his unique journey from stock market enthusiast to math major to Wall Street and microfinance leader. James opens up about helping organizations from startups to global nonprofits build strong financial foundations, and he doesn't hold back on the hard-learned lessons of managing his own firm's books.Get insider advice on navigating today's rapidly changing finance landscape, including when to upgrade your team, the evolving role of fractional experts, and how to make sure your financial processes keep pace with technology. Listen in as James unpacks the real-world impact of AI in accounting, offers tips on using new tools like Claude and shortcut.ai, and explains why learning these skills now can boost your career. Whether you're leading a growing team or just passionate about leveling up your finance game, this episode offers actionable takeaways with a fresh, honest perspective.

In this episode of the Insuranceaum.com podcast, host Stewart Foley, CFA, sits down with Bixby Stewart, Head of US Investment Grade Credit Research for Invesco Fixed Income, to explore where credit investors are finding conviction amid tight spreads, strong institutional demand, and a historic wave of AI-related capital investment.   Bixby explains why today's investment-grade market may deserve its historically tight valuations, highlighting stronger credit quality, attractive yields, improved liquidity, and persistent demand from insurers, pensions, and other institutional investors. He also discusses relative value across banks, technology, utilities, energy, and private credit, while examining the risks surrounding hyperscaler issuance, AI monetization, market concentration, and the need for disciplined security selection in a bond picker's market.

This week it's NVIDIA Nemotron Ultra through Perplexity - my sub is running out soon. It made some pretty amazing mistakes and totally made up the references list at the end. I dunno, stick to making chips fellas cause this is a bit shit. Still, it's better than nothing. The clankers are still doing okay at the shownotes thing. Enjoy! --------SummaryMr. Insider and Hong Kong Jack open with the passing of Melbourne matriarch Kath Pettingill (91) and the grim, darkly comic history of the Pettingill–Allen clan — Dennis “Dr Death” Allen, the Stevenson Street fortress, and the Wall Street executions. They pivot to Victoria's suppression-order addiction (half the national total) and the Ralph Carr rape conviction that took 48 hours to un-suppress, then dissect IBAC's Operation Richmond into the UFU/CFA/FRV stitch-up — six years, no corruption findings, just “serious and concerning conduct.”Cross the border to NSW: ICAC's Operation Rosne is live, Jean‑Claude Perrottet is squirming in the box as Nassif's $2M bribe tapes play, and Jeremy Greenwood is ghosting from London. A detour through minority-government history (Gillard–Greens–Oakeshott–Windsor) segues into a housing-market stoush: banks forecasting −10%, the Budget saying +2%, and Tanya Plibersek claiming “best time ever for first‑home buyers.”The Cambridge sociologist Jason Arday unravels — non-verbal till 11, 600 miles in six days, 30 marathons in 35 days, a brain tumour, 7‑Up kid, £5.5M raised, AI‑written resignation letter — and the ABC's Four Corners hiring ex‑Mongol Mahmoud Fazal is flagged for next week. Fauci's diaries, RFK Jr.'s peptide purge, and COVID revisionism draw a furious rant. Ukraine's drone supremacy, PLA drone investment, and why NATO spending metrics miss the point.Sport: Trump's “club champ” grift, Geelong's secret concussion waiver (chaired by AFL Commission boss Craig Drummond), the wildcard-round tanking farce driven by betting partners, Tasmania signing Nigel Lappin, and Carlton's miraculous turnaround under Josh Fraser — Harry DeMattia, Jagga Smith, Wade Derksen, and a game plan now built on turnover footy. Matthew Stokes on club culture and troubled players. The Hundred's kid‑focused gimmickry, AFLW Ireland's skill explosion at North Sydney Oval, and a teaser on NRL/AFL media capture for next week.Timeline Time Segment0:25 Intro & Housekeeping – 7 Aug 2026, Hong Kong weather (“it's called summer”), Melbourne heat.1:18 Kath Pettingill & the Pettingill–Allen Dynasty – “Granny Evil” dies at 91; Dennis Allen (Mr Death), Peter Allen, Victor Pierce, Wall Street murders, Stevenson Street Richmond/Cremorne, Brian Murphy's $1,400/week payoff, chainsaws & 44‑gallon drums.7:03 Victoria's Suppression‑Order Addiction – >50% of national total; Ralph Carr (Dusty Martin's ex‑manager) convicted of raping employee; 48‑hour delay lifting suppression; “if you've got money you get away with it.”12:29 IBAC Operation Richmond (UFU/CFA/FRV) – Six‑year inquiry; “serious & concerning conduct” but no corrupt conduct; political fix for metropolitan/country fire boundary; “vanilla ICAC” vs NSW theatre; Dan Andrews' golf clubs.20:39 NSW ICAC Operation Rosne – Young Liberal operatives (Assaf, Ellis, Greenwood, Perrottet brothers); Jean Nassif ($2M bribe allegation, now in Lebanon), Michael O'Hara, Catholic Schools NSW (Dallas McInerney); targeting David Elliott & Building Commissioner David Chandler; Jean‑Claude Perrottet in the box, audio ambush.32:41 Minority Government & Coalitions of Convenience – Gillard–Greens–Oakeshott–Windsor “wedding ceremony”; Paul Kelly's verdict; “you don't need formal agreements”; Jim Cairns 1970s parallel; all the 2010 plotters now in gaming.40:52 Housing Market: Crash or Soft Landing? – Banks: −10% / $230B wiped; Budget: +2%; Tanya Plibersek's “best time ever” claim; negative equity, bank forbearance, 1990s commercial‑property playbook.46:30 Cambridge Professor Jason Arday: Fantasist or Fraud? – Youngest Black professor; didn't speak till 11, illiterate till 18, 600 miles/6 days, 30 marathons/35 days (last 9 with hairline fracture), 7‑Up claim, £5.5M raised (walked back), brain tumour during PhD; Cambridge defends, then folds; AI‑written resignation letter; Guardian pile‑on; “sociology standards are fuzzy.”51:23 ABC Four Corners & Mahmoud Fazal – Ex‑Mongols sergeant‑at‑arms hired; journalistic ethics vs “great life story”; teed up for next episode.56:34 Fauci, RFK Jr & COVID Revisionism – Fauci takes the Fifth; HHS servers now under Kennedy; “ICUs were empty” lie; double‑blind placebo ethics (Salk polio regret); FDA pulls six peptides off ban list with zero human data; “grifters at 4,000% markup”; healthcare workers threatened.1:04:05 Ukraine–Russia: Drone Wars & Asymmetric Shift – Ukrainians lead in AI‑guided, radar‑invisible drones; defender's advantage today ≠ tomorrow; PLA investing heavily; US big‑bureaucracy lag; Taiwan lesson — boots still needed.1:08:56 Golf: Trump's “Club Championship” – 80‑yo, 180‑yard drive, four‑handicap in prime; member confirms nudging, caddy collusion, card‑swapping; “four or five handicap? I'd never play again.”1:10:48 AFL: Geelong's Secret Concussion Deal – Undisclosed player, multiple concussions, waiver signed, cleared by board (chair Craig Drummond → AFL Commission chair); rival clubs furious; enforceability doubtful; “Geelong get umpired different.”1:14:41 Wildcard Round Tanking & Betting Partners – Greg Swan memo: “pick on merit or scrutiny”; Fremantle 2023 precedent; clubs 6–10 resting stars to keep week off; bookies complain → “don't bet that week.”1:17:13 Tasmania Devils: Nigel Lappin as Head of Development – “Best development coach in the comp”; development = sustained success (cf. Geelong under Lappin).1:18:45 Carlton's Blues Revival – Josh Fraser interim; Voss “coached like everyone was Michael Voss”; Fraser: “back yourselves”; turnover footy now elite (1st/2nd in every stat vs Brisbane); Harry DeMattia, Jagga Smith, Taylor Byrne; Wade Derksen's Darwin-to-rookie fairytale; Curnow→Sydney, Florent/Hayward win‑win; Jacob Weitering return looms.1:27:41 Matthew Stokes on Club Culture & Troubled Players – Ex‑Cat's own history; secrecy enables; consequences (pay cuts) needed; “don't let it fester inside the four walls.”1:29:25 Cricket: The Hundred (UK) – 100 balls, 5/10‑ball blocks, 20‑ball max per bowler; ECB: “engage 7–10 year olds”; dominates July/August; “poor man's T20,” wallpaper cricket; IPL money > Hundred money.1:34:21 AFLW: Ireland v Australia at North Sydney Oval – Sell‑out, Irish diaspora everywhere; skills unrecognisable from Year 1; Gaelic football base; “terrific spectacle.”1:36:09 NRL/AFL Media Capture Teaser – Gus Gould fined $20K for “game's stupid”; concussion denialism; AFL.com/ NRL.com in‑house content; “incestuous relationship” — deep dive next week.1:38:43 Wrap – Episode 167 recorded 7 Aug; thanks to Hong Kong Jack; see you next week.People & Entities MentionedCategory NamesCategory NamesMelbourne Underworld Kath Pettingill, Dennis Allen, Peter Allen, Victor Pierce, Vicki Pierce, Brian Murphy, Jack (Murphy's sidekick), Dennis “Dr Death” AllenVictorian Politics/Law Ralph Carr, IBAC, Operation Richmond, UFU, CFA, MFB, FRV, Dan Andrews, Craig Drummond (AFL Commission), Premier Ben CarrollNSW Politics/ICAC Jean‑Claude & Charles Perrottet, Robert Assaf, Christian Ellis, Jeremy Greenwood, Jean Nassif, Michael O'Hara, Dallas McInerney, Damien Tudehope, ICAC Operation RosneFederal/Historical Julia Gillard, Bob Brown, Adam Bandt, Wayne Swan, Tony Windsor, Rob Oakeshott, Jim Cairns, Gough Whitlam, Kevin Rudd, Stephen ConroyHousing/Economy Tanya Plibersek, RBA, major banksAcademia/Media Jason Arday (Cambridge), The Guardian, Mahmoud Fazal (Four Corners), ABCCOVID/Health Anthony Fauci, RFK Jr, FDA, NIH, HHSGeopolitics/Defence Ukraine, Russia, PLA, Taiwan, NATO GDP metricsSport — Golf Donald TrumpAFL Geelong Cats, Craig Drummond, Greg Swan, Fremantle, Ross Lyon, Tasmania Devils, Nigel Lappin, Carlton, Michael Voss, Josh Fraser, Harry DeMattia, Jagga Smith, Taylor Byrne, Wade Derksen, Charlie Curnow, Ollie Florent, Jack Hayward, Jacob Weitering, Matthew StokesCricket ECB, The Hundred, Mitchell Marsh, Marcus Stoinis, IPLAFLW Ireland women's team, North Sydney OvalMedia Gus Gould, Phil Gould, AFL Media, NRL MediaLinks & References (for show notes)IBAC Operation Richmond Report — https://www.ibac.vic.gov.au/investigations/operation-richmondNSW ICAC Operation Rosne Hearings (live) — https://www.icac.nsw.gov.au/operation-rosneRalph Carr Conviction & Suppression Order Lift — The Age / Herald Sun (early Aug 2026)Cambridge / Jason Arday Coverage — The Guardian “Grotesque racism” piece; Times Higher Education investigationFDA Peptide Decision (6 peptides delisted) — Federal Register / FDA press release, late July 2026AFL Wildcard Round & Tanking Memo — AFL.com.au / The Age (Greg Swan memo leak)Tasmania Devils Announce Nigel Lappin — AFL.com.au / The Mercury (early Aug 2026)The Hundred 2026 Schedule & Rules — ECB / Sky SportsAFLW Ireland v Australia Highlights — Kayo / Fox Footy / AFLW YouTube

Tyler Wilkens, CFA, Director and Head Portfolio Strategist at Catalyst Capital Advisors, discusses  navigating market uncertainty while remaining invested for the long term. He shares his views on asset allocation, risk management and where opportunities may exist across equities, fixed income and alternatives.

In this episode, Benjamin Lake, CFA®, CFP® and I went rapid fire through the biggest financial debates that come up constantly with clients.Rent vs. buy Lump sum vs. dollar cost averaging Roth vs. traditional Term vs. permanent life insurance Index funds vs. direct indexing Pay off the mortgage early or invest the difference------✅ Financial planning for 30-50 year old entrepreneurs: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.allstreetwealth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠✅ My personal blog & newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thomaskopelman.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.

In today's episode, we welcome Don Wordell, CFA, Chief Investment Officer of Ceredex Value Advisors, an institutional asset manager specializing in value-oriented domestic small, mid and large cap equity strategies. Don has been with the firm since 1996, starting with Ceredex's predecessor firm as a research analyst covering value equity strategies. He became portfolio manager of the Mid-Cap Value Equity strategy in 2001 and portfolio manager of the Small Cap Value Equity strategy in 2023. Don earned a B.S. in finance and an M.B.A from the University of Central Florida. He has been a Chartered Financial Analyst (CFA®) charterholder since 2004. In our conversation, Don discusses his transition into the CIO role, Ceredex's investment philosophy, and why valuation alone is never enough to make a stock attractive. We explore the changing small-cap landscape, the impact of private equity on public markets, and why active management remains critical in less efficient areas of the market. A major focus of the discussion is the emergence of the "Physical Economy." While much of the market remains focused on software and mega-cap technology companies, Don argues that many of the most compelling AI-related opportunities may be found in the power, infrastructure, manufacturing, cooling, and data center ecosystems required to support AI's growth. Today's hosts are Steve Curley, CFA (Co-Managing Principal, 55 North Private Wealth) and Jeff Goll, CFA (Head of Capital Markets, Hillpointe) Please enjoy the episode. You can follow us on LinkedIn or at InvestorsFirstPodcast.com. Show Notes: Whitepaper: Finding Value in the Physical Economy: https://www.ceredexvalue.com/articles/finding-value-in-the-physical-economy Ceredex Value Advisors: https://www.ceredexvalue.com

In this episode of the Insuranceaum.com podcast, host Stewart Foley, CFA, is joined by Sidd Chakravarty, Vice President of Investments at CoAction Global, to explore the private market priorities insurance investors should be watching as they prepare for 2027. Sidd discusses the growing role of asset-based finance, opportunities across non-agency mortgages and digital infrastructure, and the many ways insurers can gain exposure to the financing needs created by artificial intelligence.   The conversation also examines portfolio construction in a “normal for longer” interest-rate environment, spread compression, emerging risks within private credit and the importance of understanding exactly what sits beneath each investment. Sidd shares his perspective on manager selection, insurance-specific expertise, regulatory developments and the value of peer networks as allocators navigate an increasingly complex investment landscape.

Get your customized planning started by scheduling a no-cost discovery call: http://bit.ly/calltruewealth Many retirees spend decades building wealth, only to struggle with using it once they retire. If you've ever wondered, "Can we really afford this?" or found yourself hesitating to spend despite being financially secure, you're not alone. In this episode, Tyler Emrick, CFA®, CFP®, discusses why so many retirees struggle to spend confidently and how ongoing financial planning provides clarity around life's biggest financial decisions. Through real client stories, Tyler explains how retirement planning goes far beyond managing investments—it's about helping people confidently use the wealth they've spent a lifetime building. In this episode, Tyler covers: Why nearly 40% of retirees struggle to spend their savings. The shift from saving for retirement to spending in retirement. Real client stories about relocating and helping adult children financially. Why regular planning reviews create confidence. How a good advisor helps clients evaluate options and make better financial decisions. Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 20-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth   Our website:  https://www.truewealthdesign.com/  Phone: 855.TWD.PLAN Contact our team: https://www.truewealthdesign.com/contact-a-financial-advisor/  Schedule your no-cost discovery call: http://bit.ly/calltruewealth  Check out our other no-cost financial resources here: https://www.truewealthdesign.com/financial-resources/    Facebook: https://www.facebook.com/TrueWealthDesign/  LinkedIn: https://www.linkedin.com/company/true-wealth-design/  X: https://x.com/truewealthdesgn    Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1

Welcome back to the Alt Goes Mainstream podcast.We sat down with Mike Trihy, Head of Portfolio Management for the Venture Growth Evergreen strategy at Wellington Management.We were live from Berlin, which becomes the “capital of private capital” in June as private equity industry leaders make the annual pilgrimage to the city for one of the marquee private equity conferences, SuperReturn Berlin.With Prosek Partners and former Bloomberg TV journalist Deirdre Bolton as my producer, along with her team, we took over a Tiny Space cabin to hold big conversations with some of the industry's leading alternative asset managers.Wellington Management has a rich heritage as an independently owned asset manager. The firm, which has taken a research-driven approach and long-term thinking to active management in public markets and, increasingly, in private markets, is nearing its 100-year anniversary. Wellington has grown to over $1.3T in AUM and is the largest sub-advisor in the world.Mike joined from Bow River Capital to run Wellington's Venture Growth Evergreen strategy, which will focus on direct growth and venture investments, secondaries, and select fund investments. Mike brings deep expertise in the evergreen fund management space, co-founding and scaling Bow River's evergreen private markets platform and working as a portfolio manager at evergreen pioneer Partners Group.Mike and I had a fascinating discussion about the current state of evergreen funds and the venture and growth investing market. We covered:The evolution of evergreen private markets funds.The convergence of public and private investing.Lessons learned from building and managing evergreen funds at Partners Group and Bow River.The importance of portfolio construction, liquidity planning, and evergreen fund operations.Which firms are well-positioned to run and manage evergreen funds?Partnerships in asset management.How the market may shake out and why structure must match the asset, the client, and the liquidity terms. LP composition, evergreens vs. drawdowns across wealth and institutions, and the role of partnerships. What the potential wave of mega IPOs could mean for DPI, exits, and private market fundraising.BioAs lead portfolio manager for the Venture Growth Evergreen (“VGE”) strategy, Mike is responsible for overall portfolio construction and allocation of capital across direct growth and venture investments, secondaries, and select fund investments. He also oversees risk management, liquidity management, and cash flow forecasting for the evergreen fund.Prior to joining Wellington Management in 2025 Mike was a portfolio manager at Bow River Capital, where he co-founded and scaled their evergreen private markets platform while overseeing the fund's investment activity across multiple private markets asset classes. Prior to Bow River, he was a portfolio manager at Partners Group where he was responsible for portfolio construction and asset allocation for evergreen products and custom separate account mandates. He started his investment career at wealth-focused listed private equity firm Red Rocks Capital.Mike graduated from the University of Colorado with a degree in finance, and he is a CFA and CAIA charterholder.Thanks, Mike, for sharing your wisdom, expertise, and perspectives on private markets and evergreen funds.Show Notes00:00 Live from SuperReturn Berlin00:12 Meet Mike Trihy02:06 Defining the Perfect Evergreen02:27 Evergreen vs Drawdown DNA02:42 Deal Flow Isn't Everything03:01 Portfolio Construction Focus03:20 Cashflow Planning Mindset03:33 Operations and Valuations03:47 Sales and Flow Forecasting04:03 Regulation and Complexity04:11 Fiduciary Growth Discipline04:46 Do Firms Have the Toolkit05:20 Scale vs Boutique Nuances05:42 When Bottom Up Fails06:18 The Deal Flow Constraint06:44 Should There Be More07:00 Shakeout and Quality Wins08:07 No One Best Wrapper08:28 Matching Assets and Clients09:43 LP Mix and Herding Risk11:34 Evergreens Future in Wealth13:21 Public Markets DNA Advantage14:56 Partnerships and Mega IPOs17:07 Private Markets Stay Private18:52 DPI and Exit Wave Impact20:17 Public vs Private Valuations22:21 What Happens Faster Slower24:08 Closing

Difficile au Mali d'exprimer publiquement une opinion autre que celle de la junte au pouvoir. Hommes politiques, journalistes, influenceurs, chroniqueurs, commentateurs, activistes de la société civile sont constamment dans le viseur du Pôle national de lutte contre la cybercriminalité. Les arrestations et les condamnations sont monnaie courante. Et les libérations rares. Comme celle de Moussa Mara samedi dernier. Après un an derrière les barreaux, l'ancien Premier ministre malien est sorti libre de la maison centrale d'arrêt de Koulikoro. « Il avait été emprisonné, rappelle Afrik.com, pour avoir publiquement soutenu plusieurs personnalités détenues qu'il venait visiter en prison, dont certaines restent aujourd'hui derrière les barreaux. Des personnalités parmi lesquelles le chroniqueur Ras Bath, l'influenceuse Rose Vie Chère, l'opposant Clément Dembélé ou encore Issa Kaou N'Djim. Il leur avait exprimé sa solidarité, les qualifiant de "détenus d'opinion". (…) Le 27 octobre de l'année dernière, précise encore Afrik.com, le Pôle national de lutte contre la cybercriminalité l'avait condamné à deux ans d'emprisonnement, dont un an ferme et un an avec sursis, assortis d'une amende de 500 000 francs CFA. Les accusations portaient sur l'"atteinte au crédit de l'État", l'"incitation à troubler l'ordre public" et l'"opposition à l'autorité légitime" ». Chahana Takiou trop critique… Il ne fait donc pas bon de s'opposer à l'autorité « légitime » au Mali. Témoin la récente condamnation à douze mois de prison, dont six mois ferme, de Chahana Takiou, directeur de publication du journal Le 22 Septembre et président du Groupement patronal de la presse. Condamnation toujours prononcée par ce fameux Pôle national de lutte contre la cybercriminalité. La presse malienne, muselée, rapporte les faits de manière on ne peut plus succincte : « arrêté le 8 juin dernier, Chahana Takiou a déjà purgé deux mois et devra être libéré le 8 décembre prochain, sauf grâce présidentielle. On souhaite beaucoup de courage à notre confrère », commente timidement le site Bamada.net. Pourquoi Chahanou Takiou a-t-il été condamné ? Officiellement pour « atteinte au crédit de l'État à travers l'institution judiciaire », précise Jeune Afrique. En fait, précise le site panafricain, « le dossier visant Chahana Takiou trouve son origine dans des propos tenus début juin lors d'un forum consacré aux médias à Bamako. Le journaliste y avait critiqué le recours aux dispositions de la loi sur la cybercriminalité contre des professionnels de la presse, estimant que les infractions qui leur sont reprochées devraient être poursuivies dans le cadre du régime spécifique des délits de presse. À la suite de cette intervention, il avait été convoqué puis placé sous mandat de dépôt ». De plus en plus de poursuites… Et Jeune Afrique de constater que « depuis plusieurs années, les autorités maliennes multiplient les poursuites contre des personnalités accusées de porter atteinte aux institutions ou à la sûreté de l'État. Les dossiers impliquant des journalistes, des influenceurs ou des militants sont de plus en plus fréquemment instruits sous le prisme de la cybercriminalité, une évolution régulièrement dénoncée par les organisations de défense de la liberté de la presse et des droits humains ». Dans ce contexte, on comprend la prudence de Moussa Moura. « Dans sa première prise de parole publique (après sa libération donc samedi dernier), relève Afrik.com, l'ancien Premier ministre a adopté un ton mesuré, affirmant ne nourrir aucune haine envers les magistrats ou les autorités et appelant les Maliens à l'unité, au pardon et à la réconciliation ». Le chroniqueur Ras Bath à nouveau condamné ? Dans les prochains jours, des procès vont s'ouvrir, notamment celui de Ras Bath. « Détenu depuis mars 2023, rappelle Jeune Afrique, le chroniqueur et président du Collectif pour la défense de la République avait été interpellé après avoir affirmé que l'ancien Premier ministre Soumeylou Boubèye Maïga avait été "assassiné". Malgré les demandes répétées de ses médecins, ce dernier n'avait jamais pu être évacué à l'étranger et était mort en détention, en mars 2022. Initialement poursuivi pour "simulation d'infraction", Ras Bath avait été relaxé en juillet 2023. La justice avait ordonné sa remise en liberté, une décision, pointe le site panafricain, qui n'a jamais été exécutée après que le parquet a fait appel. Depuis, une nouvelle procédure a été engagée : il est désormais poursuivi pour "association de malfaiteurs", "atteinte au crédit de l'État" ou encore "crime à caractère raciste et religieux" ».

Memory has been one of the strongest corners of the semiconductor industry, and strong returns invite hard questions. In the second part of this series, equity analyst Shan Rui Yeo examines the main risks to the memory thesis: rising competition from China's CXMT and YMTC, the technologies that could reduce AI's appetite for memory, and the wave of capacity investment that could eventually tip the industry back into oversupply. He weighs each risk against the constraints holding it back, from equipment export controls to limited EUV supply, and notes that memory companies already trade at three to five times forward earnings. The conversation closes on a working principle: treat the terminal value as a distribution, not a fixed number. Key Takeaways China's CXMT is expanding DRAM capacity aggressively, but export controls on sub-18 nanometre equipment and EUV keep its effective supply share (about 10%) below its capacity share (about 15%). YMTC is the more credible technological threat: NAND density comes from stacking layers, and its Xtacking hybrid bonding architecture is proprietary. Efficiency gains may grow memory consumption rather than reduce it; cheaper tokens get spent on larger context windows (the Jevons paradox). The deepest risk is architectural: if large language models are not the path to AGI, the next paradigm may not be memory hungry, so terminal value is a distribution, not a fixed number. Announced capex is enormous but back-loaded into the 2030s, and EUV and equipment capacity are the bottleneck to bringing it online. Memory companies trade at three to five times forward earnings; the market is not assuming supernormal profits forever, and the NAND supply outlook is better in the near term. Companies Mentioned: Samsung, SK Hynix, Micron, CXMT (ChangXin Memory), YMTC (Yangtze Memory), Apple, NVIDIA, Google, ASML, Applied Materials, KLA, Lam Research, TSMC, Intel, Kioxia Host: Rob Campbell, CFA, Institutional Portfolio Manager Guest: Shan Rui Yeo, CFA, Equity Analyst   This episode is available for download anywhere you get your podcasts.   Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore.    Visit us at: https://www.youtube.com/@MawerInvestment https://www.mawer.com https://www.linkedin.com/company/mawer-investment-management/ https://www.instagram.com/mawerinvestmentmanagement/

In this episode of the insuranceaum.com podcast, host Stewart Foley, CFA, speaks with Ross Sylvester of Napier Park Global Capital and Katie Cowan of First Eagle Investments about insurance investing in railcar leasing. They explain how the asset class works, why industrial companies lease railcars and how contractual cash flows, specialized maintenance and long-lived physical assets can create a resilient investment profile.   The discussion explores how railcar leasing may support stable income, inflation sensitivity, duration alignment and diversification within insurance portfolios. Ross and Katie also share their perspectives on North American supply chains, geopolitical exposure, asset-based finance and how insurers can evaluate railcar leasing alongside traditional credit and real asset allocations.

Private credit has become one of the fastest-growing areas of investing, yet it’s also surrounded by headlines that often create uncertainty. How should long-term investors evaluate the opportunity? When does media attention reflect genuine risks, and when does it distract from the bigger picture? In this episode, Robert Curtiss welcomes back Phil Huber, CFA, CFP®, Managing Director and Head of Portfolio Solutions at Cliffwater, to discuss private credit and its growing role in diversified portfolios. They explain why recent headlines about defaults, liquidity, and valuations deserve context, how private credit differs from traditional fixed-income investments, and why institutional investors continue to allocate to the asset class.  They also explore how long-term discipline, diversification, and a rules-based investment process can help investors separate meaningful information from market noise. Key takeaways: Why private credit has expanded as banks reduced lending to middle-market businesses How private credit generates returns through contractual income rather than stock-like appreciation Why institutional investors continue increasing allocations despite concerning headlines How diversification and manager selection can help reduce borrower-specific risks Why long-term discipline often leads to better investment decisions than reacting to headlines And more! Resources: Educational videos (bottom of the page) Connect with Phil Huber: LinkedIn: Phil Huber Website: Cliffwater Connect with Robert Curtiss: rcurtiss@seia.com (626) 795-2944 About Robert Curtiss  LinkedIn: Robert Curtiss Facebook: Robert Curtiss SEIA LinkedIn: SEIA About Our Guest: Phil Huber, CFA, CFP®, is the Managing Director and Head of Portfolio Solutions at Cliffwater, where he focuses on research, portfolio construction, and helping advisors and investors better understand private markets and alternative investments. He regularly analyzes topics including private credit, private equity, and portfolio diversification, translating complex investment concepts into practical insights for long-term investors. Through his research and industry commentary, Phil helps financial professionals evaluate alternative investment opportunities within disciplined, diversified portfolio strategies.

Edward Brady is a CFA, Realtor®, Certified Regulatory Compliance Professional, and former SEC examiner who spent 25 years protecting the integrity of U.S. financial markets. After conducting hundreds of examinations of broker-dealers and investment advisors, he now helps investors simplify financial decisions through timeless wealth-building principles. In this episode, Edward shares lessons from his career at the SEC, explains why most people misunderstand compounding, and breaks down the four pillars of his STAR framework for building lasting financial security. On this episode we talk about: Edward's journey from aspiring real estate professional to spending 25 years investigating the financial industry at the SEC. Why diversification protects more than your portfolio—it protects your confidence as an investor. The STAR framework: Savings, Time, Assets, and Real Returns. How taxes, fees, inflation, and investment structure quietly impact long-term wealth. Why patience and compounding—not chasing quick wins—are the foundation of financial freedom. Top 3 Takeaways Long-term wealth is built by consistently saving, allowing time for compounding, and making thoughtful investment decisions—not by chasing get-rich-quick opportunities. Diversification isn't just about reducing risk; it helps investors maintain the confidence to stay invested through market volatility. Your net returns are what truly compound. Minimizing taxes, fees, and unnecessary costs can dramatically improve your financial future. Notable Quotes "Diversification protects your confidence in taking risk." "Only your net returns compound. What you keep is what grows." "If you understand the principles that affect your returns, you're much better able to protect yourself." Connect with Edward Brady: LinkedIn: https://www.linkedin.com/in/edward-m-brady-cfa-realtor/ Instagram: https://www.instagram.com/edwardmbradycfarealtor/ Other: Awaken Your Star book A Word from Our Sponsors: - Visit DrinkAG1.com/TMM to get a free AG1 Travel Case with 7 free AG1Travel Packs in your Welcome Kit with your first AG1 subscription order while supplies last.  - Go to Leesa.com for 25% OFF select mattresses (through August 23, 2026) PLUS get an extra $50 off with promo code TMM, exclusive for my listeners  Learn more about your ad choices. Visit megaphone.fm/adchoices

Ben Carlson, CFA, is the Director of Institutional Asset Management at Ritholtz Wealth Management and the creator of the widely read financial blog A Wealth of Common Sense. He is the co-host of the Animal Spirits podcast and the author of several books on investing, including A Wealth of Common Sense and his latest release, Risk and Reward: How to Handle Market Volatility and Build Long-Term Wealth. Ben is known for making complex financial concepts practical, accessible, and easier for everyday investors to understand. Today on the show, we discuss why financial anxiety persists even when you are doing everything right, how to build a simple plan around your goals and risk tolerance, why automated investing can help you ignore market noise, how much cash you really need for emergencies and short-term goals, why more money does not automatically create security or happiness, and how to save, invest, and spend without guilt or constantly moving the goalposts and much more. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this Ask Me Anything episode, Ben Felix, Ben Wilson, and Louai Bibi tackle a wide-ranging collection of listener questions spanning investing, retirement, family finance, and financial planning. Along the way, they combine academic research, practical experience, and thoughtful discussion to separate evidence-based decisions from intuition.   The conversation explores everything from teaching children healthy money habits and the long-term behavioral challenges of value investing to sequence of returns risk, retirement spending strategies, and global portfolio construction. The episode concludes with an in-depth discussion of Louai Bibi's National Financial Planning Award-winning financial plan, highlighting the importance of holistic advice, evidence-based planning, and continuous improvement through client feedback.   Key Points From This Episode: (00:00:00) Introduction (0:05:30) Advice for aspiring financial planners: Building skills, credentials, networks, and mentorship early in your career. (0:07:35) Why young advisors should be "a sponge" and learn from both good and bad professional experiences. (0:09:41) Ben Felix on completing the CFA, CIM, and CFP early—and why creating content accelerated his learning. (0:11:51) Why getting large numbers of client-facing "reps" can dramatically improve an advisor's ability to communicate advice. (0:15:44) Choosing the right firm, team, and mentors—and how networking helped Ben Felix ultimately join PWL. (0:18:53) Should a young physician borrow from a professional line of credit to invest? (0:24:55) Robert Merton's perspective on leverage for young investors and the risks of implementing leverage through margin borrowing. (0:28:21) Why the psychological experience of investing borrowed money can be very different from owning an unleveraged portfolio. (0:30:35) How much leverage is needed before it meaningfully changes a long-term financial plan. (0:31:36) Should investors increase their equity allocation before considering leverage? (0:33:39) Louai's experience working with physicians and why becoming debt-free can change how people feel about borrowing to invest. (0:36:00) Louai and Ben Felix share their own experiences with leverage. (0:36:59) How to teach children about money, scarcity, saving, generosity, and spending. (0:38:26) Ben Wilson's approach: Save 50%, give 10%, and let his kids decide what to do with the remaining 40%. (0:40:02) Using wealth for memorable family experiences rather than simply giving children more money. (0:42:51) Why anticipating an experience can be an important part of the enjoyment it creates. (0:43:42) Is the value premium worth the behavioral challenge of potentially enduring years of underperformance? (0:44:11) Ben Felix explains why the difficulty of sticking with value may itself contribute to the premium. (0:45:47) Can having a sufficiently large portfolio eliminate sequence-of-returns concerns? (0:49:41) Reframing "sequence of returns" as "sequence of withdrawals"—and why flexible spending matters. (0:51:21) Separating retirement expenses into fixed needs and flexible spending. (0:52:47) The purchases that have delivered the best personal ROI for Ben, Ben, and Louai. (0:53:08) Ben Felix on his indoor basketball hoop, family travel, sauna, and prepared meal delivery. (0:56:56) Ben Wilson on family vacations, skiing, cycling, and why his family chose a pool over a cottage or boat. (0:58:27) Louai on his 49-inch monitor, his dog, and investing in health and fitness. (1:00:42) How should investors geographically weight a global small-cap value portfolio? (1:05:13) Why a globally diversified portfolio that an investor can actually stick with matters more than finding a theoretically perfect country allocation. (1:07:19) What should investors approaching retirement or FIRE do about sequence-of-returns risk? (1:09:00) Research comparing declining, rising, and static equity allocations during retirement. (1:13:38) Why risk tolerance, time horizon, spending needs, and financial-plan resilience should drive retirement asset allocation. (1:15:07) The National Financial Planning Awards, the judging process, and the sponsorship conflict disclosure surrounding Louai's award. (1:18:37) Inside Louai's 47-page award-winning financial plan and the range of planning issues it addressed. (1:20:06) What Louai believes actually distinguished the submission: Not one clever strategy, but a holistic decision-making process. (1:21:39) Why Louai sought feedback from planners outside PWL and how the award process can improve the broader team. (1:23:26) Why Louai believes financial-planning knowledge and feedback should be shared rather than "gatekept." (1:23:56) How feedback from the Rational Reminder community changed Louai's thinking about investment risk. (1:24:40) Why defining risk purely as short-term volatility can overlook the bigger risk of failing to achieve financial goals. (1:27:59) How public feedback through the podcast creates a powerful learning loop for the PWL team. (1:28:29) A PWL client review on the value of planning, professional experience, and advice that puts the client's interests first. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on YouTube — https://www.youtube.com/channel/ Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/   Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)  

"The long-term drivers for the commodity cycle are intact. The rally that we've seen over the last 24 months, it's just like a teaser of what's coming when you look at broad sort of like landscape ideas in terms of like the exposure of global markets to mining and metals and to energy as well, it's less than 1% in some cases. If that only gets back to long-term averages of 5 to 10%, we're looking at trillions of dollars that are going to roll into our space. We live in a world where companies have trillion-dollar valuations. Why can't our companies [miners] have trillion-dollar valuations?" explains Resource Fund Manager Samuel Pelaez in this MSE episode. Samuel Pelaez is the President, CEO and CIO of Olive Resource Capital Inc. He has dedicated the past decade to financing natural resource projects while serving as Chief Investment Officer and Portfolio Manager at Galileo Global Equity Advisors, and as an analyst at US Global Investors. Mr. Pelaez has been an early investor in numerous resource discoveries and has been an active participant in Canadian resource corporate transactions. Samuel graduated from the Schulich School of Business with Distinction. He also holds a Masters in Finance degree from The University of Cambridge. He was a scholar of the Financial Leaders of Tomorrow Program at the PBOC Graduate School at Tsinghua University in Beijing. Samuel is a CFA charter holder and member of the Toronto CFA Society where he resides. Sam's website: https://olive-resource.com/ 00:00 Intro 00:47 Market Outlook and Fed 02:41 Gold Pullback Opportunity 04:12 Liquidity Spreads to Commodities 07:04 Whales Media and Charts 08:29 Copper Capex and Juniors 13:54 Project Quality and Water 17:13 M&A Drivers Permitting 19:46 Fast 41 and Policy Tailwinds 21:50 Portfolio Construction Focus 24:21 Position Sizing Concentration 28:37 Benchmarking and Learning 34:10 Top Picks to Watch 36:45 Olive Resource Capital Thesis 39:23 Cost of Living Philosophy Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 This interview was not sponsored. Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Everyone's talking about an "AI bubble." Is it real? David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM look at what the actual earnings data says — and it tells a different story than the headlines. This episode also covers SpaceX's stock drop, and why 95% of the company's shares are still locked up and can't be sold yet. Dave and Nate walk through what that means for anyone thinking about buying in now. They also get into private equity: why it's being pushed so hard to individual investors right now, and the real cost of locking up your money for seven years to get in. The takeaway: don't let headlines or hype set your investment strategy. Understand the actual data, stay disciplined, and keep your options open. Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures Episode Timeline/Key Highlights: 00:00 - A Volatility Reality Check 0:21 - Welcome And Why SpaceX Matters 3:59 - AI Bubble Claims Put To Data 8:30 - Semiconductors Cool Off And IPOs Wait 14:05 - Concentration Risk In The S&P 500 18:45 - SpaceX Price Drop And The Float Problem 22:25 - Staying Invested Through Normal Drawdowns 24:03 - Lockups, Liquidity Events, And Timing 27:57 - Space Exposure Via ETFs Plus Mag 7 Check 29:50 - FOMO, Feelings, And Long-Term Odds 29:51- Why Private Markets Get Pushed 31:22 - The Seven-Year Wait And Opportunity Cost 36:03 - When Alternatives Can Actually Fit 41:30 - How To Send Questions And Subscribe 42:08 - Required Investing Disclosure Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/ About "Off the Wall": Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin. Learn more about our hosts on our website at https://monumentwealthmanagement.com