Insight is Capital™ Podcast

Canada invented ETFs — but how did they grow into a trillion-dollar force, and where are they headed next? Pierre Daillie sits down with BMO ETF leaders Alain Desbiens and Tammy Cash to reveal the untold stories, the lessons learned, and what the future holds for advisors and investors.Episode SummaryIn this in-depth conversation, Pierre Daillie is joined by Alain Desbiens, Vice Chair at BMO ETFs, and Tammy Cash, Director of Distribution Strategy at BMO ETFs and Global Co-President of Women in ETFs. Together, they trace the remarkable journey of exchange-traded funds in Canada—from their early days as a disruptive upstart, to their current role as an essential building block in portfolio construction.Alain shares candid reflections on being one of BMO’s first ETF wholesalers and the skepticism he faced when ETFs were dismissed as a “trend.” Tammy recalls her path into the industry, her passion for democratization of investing, and her leadership in Women in ETFs, a global movement empowering women across financial services.The discussion covers the resilience it took to build the industry, the role of education and advisor partnerships, and how tools and technology are reshaping the advisor-client experience. Both leaders also look ahead to 2030, envisioning an ETF marketplace that is larger, more competitive, and increasingly shaped by innovation in active strategies, alternatives, and digital distribution.This is more than a story about the ETF industry — it’s about people, purpose, and the power of advice.🔑 Key Takeaways• ETFs as Disruption Turned Foundation – Alain reflects: “At the beginning I saw that the ETF could be disruptive and it could create waves and I loved it. I knew we were into something.”• Advisor Education Remains Central – Tammy emphasizes: “It really is about that education and the intersection of education and partnership today… making sure that we provide clarity, congruency and real education to advisors and investors.”• Competitive Landscape & DIY Risks – Alain warns: “There’s a lot of people [DIY investors] that buy products and they don’t really understand what they’re buying. That’s probably the worst money you’re buying.”• Women in ETFs & the Future of Advice – Tammy highlights the opportunity: “Today, sadly, we still sit at 17% representation of women as financial advisors in Canada… and the opportunity that that presents is significant.”📌 Timestamped Chapters00:00 - Introduction to Insight is Capital01:32 - Exploring Early Days in the ETF Industry03:03 - Building an Industry: Lessons from the Early Days05:37 - The Evolution of ETFs and Market Dynamics09:43 - Adapting to Change: Insights on Resilience16:39 - Women in ETFs: Empowering Female Leaders21:52 - Celebrating Women's Careers in Finance23:06 - Legacy and Product Impact on Investing24:32 - Challenges in the Advisory Business27:13 - The Evolution of Client Experience in Finance28:56 - The Return of Key Industry Figures30:47 - Investor Education and Transparency31:59 - Opportunities in ETF Specialization34:37 - The Challenge of Meeting Investor Expectations37:19 - The State of Canadian Investable Assets38:23 - Diversification Strategies for Advisors39:43 - Innovations in ETF Solutions41:08 - Navigating Complexity and Competition in ETFs42:30 - The Demand for Financial Advice43:58 - Personal Reflections on Industry Impact45:31 - The Human Element in Finance47:07 - Legacy and Leadership in Finance#BMOETFs #ETFInvesting #CanadianETFs #WomenInETFs #AdvisorEducation #InvestingInsights #PortfolioConstruction #WealthManagement #FinancialAdvisors #FutureOfInvesting

What if everything you thought you knew about the Fed, fiscal policy, and recession playbooks is already obsolete? In this episode, Darius Dale reveals why the U.S. economy has entered “Paradigm C” — a regime of fiscal dominance, deregulation, and coordinated support — and what it means for portfolios, the Fed, and your financial future.📖 Episode SummaryIn this powerhouse conversation, hosts Pierre Daillie, Mike Philbrick, and Adam Butler welcome back Darius Dale, Founder of 42 Macro LLC, to dissect the seismic shifts reshaping markets in 2025.Dale explains why April’s bond market shock was the most important event since Lehman, forcing the U.S. into Paradigm C: a policy mix of fiscal dominance, deregulation, and an implicit partnership between the Treasury and the Fed. He argues that recession is no longer bullish for Treasuries, that the Fed’s outdated 2% inflation target is crushing those at the bottom of the “K-shaped” economy, and that retail investors have a once-in-a-generation edge over institutions if they stop chasing factor bets.From the decline of U.S. exceptionalism risk to the emergence of financial repression, Dale outlines why the simple KISS portfolio — may be the smartest way to retire on time and comfortably.This is a must-listen for advisors, investors, and anyone trying to navigate the most uncertain macro environment in decades.🔑 4 Key Takeaways1. Paradigm C Defined – The U.S. has shifted to a regime of fiscal dominance and deregulation, aiming to “outgrow” its debt problem rather than cut or print immediately.2. The End of Old Playbooks – Recession is now bearish for Treasuries, Fed independence is eroding, and the 2% inflation target is increasingly destructive.3. The Retail Investor Advantage – Unlike institutions, individuals can flexibly shift exposure, avoid factor risks, and stick to a simplified but powerful asset mix.4. The KISS Portfolio – Darius champions a three-part framework as the most effective way to capture upside while hedging against fiscal repression and monetary debasement.📺 Timestamped Chapters00:00 – Introduction & Darius Dale’s mission at 42 Macro05:00 – Paradigm A → B → C: How policy shifted after April’s bond shock13:00 – Fiscal dominance explained: deficits, tariffs, and untouchable spending20:00 – Why the Fed has lost independence and why inflation targeting is broken30:00 – K-shaped economy: winners at the top, losers at the bottom40:00 – The dollar’s future, sector plays, and EM opportunities46:00 – The KISS portfolio: why retail investors should stop chasing factors55:00 – Reactions, testimonials, and the simplicity that worksMore...42 Macro LLCDarius Dale on Linkedin

CRM3 (Total Cost Reporting) isn’t just another compliance box to check—it’s the biggest shift in cost transparency Canadian advisors have ever faced, and how you handle it could define your client relationships for years to come.In this episode of Insight is Capital, host Pierre Daillie sits down with three leading voices to unpack the realities—and the opportunities—of Total Cost Reporting (TCR/CRM3).Joining the conversation are:Arnie Hochman, Senior Vice President & General Counsel at SIMADr. David Lewis, Behavioural Scientist, Consultant & Independent DirectorSteve Braugiroux, Associate Vice President, Dealer Relations at National BankTogether, they break down why TCR matters, what advisors need to prepare for, and how transparency—far from being a threat—can actually deepen trust and strengthen the advisor-client relationship.From the mechanics of cost disclosure to the psychology of investor perception, this discussion explores how advisors can transform a regulatory requirement into a defining moment of value delivery.🔑 Four Key TakeawaysTransparency Builds Trust - Research shows clients often overestimate hidden fees. When full costs are revealed, trust in advisors actually increases, making them more willing to pay for advice.TCR Is a System Overhaul - Unlike CRM2, TCR requires advisors and dealers to report on costs they don’t directly control—demanding a new ecosystem of data sharing between managers, dealers, and service providers. Advisors Must Get Ahead of the Conversation - Waiting until January 2027 to explain statements will create confusion and mistrust. Proactive education now will turn compliance into confidence.An Opportunity for Better Advice - TCR creates a level playing field for comparing costs, paving the way for deeper portfolio conversations, fee budgeting, and demonstrating the true value of advice—especially in areas like asset allocation and behavioral coaching.🕒 Timestamped Chapters00:00 – Why transparency matters: client psychology and hidden fees02:00 – What CRM3 (TCR) really changes for advisors and clients06:00 – The operational challenge: new pipelines, new ecosystems10:00 – Research insights: transparency increases trust, not fear14:00 – What’s included, what’s not—and how advisors can bridge gaps18:00 – Foreign-listed ETFs and global disclosure challenges21:00 – A level playing field: portfolio-wide cost conversations24:00 – Fee budgeting, portfolio construction, and advice value27:00 – Preparing clients early: avoiding confusion in 202730:00 – OEO vs. advice channels and the complexity of FER31:00 – The role of industry associations in guiding implementation33:00 – Closing thoughts: collaboration, consistency, and opportunityMore...• The Securities and Investment Management Association (SIMA)• Read SIMA's FAQ on Total Cost Reporting. #CRM3 #TotalCostReporting #WealthManagementCanada #FinancialAdvisors #InvestmentTransparency #AdvisorClientTrust #BehaviouralFinance #CanadianInvesting #PortfolioConstruction #AdvisorValue

What if the riskiest move in your portfolio isn’t owning crypto—but ignoring it? In this episode of Raise Your Average, hosts Pierre Daillie and Mike Philbrick sit down with legendary advisor, founder of the largest US RIA firm, author, and futurist Ric Edelman, Founder of DACFP (Digital Assets Council of Financial Professionals). Edelman, long known as a trusted voice in personal finance, now makes his most provocative case yet: advisors and investors may need to rethink the role of crypto—moving beyond token allocations toward a meaningful presence in portfolios. Ric explains why today’s environment—marked by regulatory clarity, institutional adoption, and longer human lifespans—has shifted the crypto conversation from speculation to necessity. He argues that traditional 60/40 models are broken in a world of longevity risk, rising rates, and monetary debasement, and calls for a bold reallocation: 80/20 with up to half of the equity/growth sleeve in crypto-related equities and including somewhere between 10% and 40% allocated of that directly to bitcoin and other digital assets e.g. Ethereum, Solana, etc. The conversation spans regulatory breakthroughs, the psychology of allocation, fiduciary responsibility, and the mindset shifts advisors must embrace. As Edelman puts it, “Not owning crypto today is effectively shorting it.” This episode is a must-watch for financial professionals navigating the future of portfolio construction. 🔑 Key Takeaways1. From Fringe to Foundational – With regulatory clarity under the Trump administration and institutional adoption accelerating, crypto is no longer a speculative bet but an investable, regulated asset class.2. Longevity Changes Everything – Advances in healthcare and aging science mean people will live far longer, forcing portfolios to outlast retirements that could stretch 40+ years; Edelman argues this demands higher equity and crypto allocations.3. The New 80/20 – The classic 60/40 portfolio has reached its limits; Edelman calls for 80% equities—with bitcoin and crypto-related equities making up as much as half of that equity sleeve with between a low of 10% to high of 40% directly allocated to bitcoin—for true long-term resilience.4. Advisor Imperative – Compliance officers are shifting from resistance to acceptance as rules clarify, but Edelman warns that advisors who stay at zero risk reputational damage as clients begin to demand crypto exposure.⏱️ Timestamped Chapters 00:00 – Ric Edelman on diversification myths and hidden biases 02:00 – Why crypto deserves a 3%+ passive allocation 04:00 – Ric’s bold new thesis: 10–40% crypto allocation 07:00 – Regulatory clarity and the Trump administration’s policy shift 12:00 – Why low single-digit crypto allocations underserve investors 18:00 – Compliance barriers and regulatory breakthroughs 22:00 – The best time in Bitcoin’s history to invest 27:00 – Longevity risk: why retirement planning must change 31:00 – The end of 60/40: why 80/20 with crypto is the future 40:00 – Demographics, pensions, and the failing glide path model 50:00 – Crypto allocation frameworks: Bitcoin, Ethereum, picks & shovels 56:00 – Why crypto is safer now than ever before 1:03:00 – Volatility as a feature, not a bug 1:08:00 – Behavioral hurdles and myths keeping investors sidelined 1:13:00 – Advisors’ fiduciary duty in the new landscape 1:17:00 – Final thoughts: longevity, technology, and the advisor imperative More...• DACFP (Digital Assets Council of Financial Professionals)• Ric Edelman's Bitcoin Allocation Strategy• Earn your CBDA (Certified in Blockchain and Digital AssetsSM) Designation#CryptoInvesting#BitcoinETF#DigitalAssets#FinancialAdvisors#WealthManagement#PortfolioStrategy#CryptoAdoption#RaiseYourAverage#FutureOfFinance#CryptoEducation

In a market climbing a wall of worry, Alfred Lee, Deputy CIO at Q Wealth Partners, breaks down what’s really driving resilience in equities, the pitfalls of the 60/40 portfolio, and why private markets may hold the key to asymmetric opportunities.SummaryAlfred Lee, Deputy Chief Investment Officer at Q Wealth Partners, joins us for a deep dive into the future of portfolio construction, the limitations of legacy models, and the overlooked opportunities in private markets.With over two decades of experience—from building BMO’s ETF platform from the ground up to shaping Q Wealth’s investment platform—Alfred brings a candid, data-driven perspective on how advisors can navigate today’s uncertain environment.Our conversation ranges from the rise of independence in Canada’s wealth management industry, his role as Deputy CIO at Q Wealth Partners, one of Canada's leading independent advisor platforms where he has been for almost one year, to his views on navigating markets in the context of the push-pull dynamics between fiscal expansion and monetary caution. Alfred also shares his conviction that investors need to evolve beyond the traditional 60/40 and embrace a more diversified, resilient approach—one that integrates private equity, private debt, and liquid alternatives alongside public markets.This is a must-listen for advisors and investors looking to position portfolios for an era where fundamentals matter again, resilience is paramount, and opportunity often lies beyond the obvious.4 Key TakeawaysThe rise of independence in wealth management – Q Wealth is at the forefront of Canada’s RIA-style movement, offering turnkey infrastructure for advisors seeking freedom from traditional institutions.Markets priced for perfection – Equity markets may look overvalued, but earnings surprises suggest valuations could be less frothy than they appear. Still, risks such as tariffs, inflation, and geopolitical uncertainty loom large.Beyond the 60/40 portfolio – Traditional models fail in inflationary regimes; resilient portfolios now require privates and alternatives alongside equities and bonds.Asymmetric opportunities – The most compelling upside lies in private markets and alternative strategies, where strong due diligence can unlock alpha inaccessible in public markets.Timestamped Chapters00:00 – Introduction to Alfred Lee and his career journey02:00 – Q Wealth’s model and the rise of advisor independence in Canada08:30 – Freedom in strategy: private pools, ETFs, and broader exposures14:00 – Defining success at an independent platform15:30 – Market outlook: resilience, risks, and equity momentum24:00 – Fiscal expansion vs monetary caution: Powell vs Trump33:00 – Valuations, earnings, and the search for asymmetric returns39:00 – Private equity, private debt, and the power of secondaries45:00 – Why the 60/40 model is outdated50:00 – The case for alternatives and diversification52:00 – Closing reflections and key lessons#InvestmentStrategy #WealthManagement #QWealth #AlfredLee #InsightIsCapital #MarketOutlook #PortfolioConstruction #PrivateMarkets #Alternatives #ETFInvesting #6040Portfolio #FinancialAdvisors

In a world where inflation, currency debasement, and geopolitical shocks threaten portfolios, what if you could keep your core equity exposure and add the asymmetric upside of Bitcoin and the timeless stability of gold—without triggering investor panic or selling winners? In this episode, host Pierre Daillie sits down with Mike Philbrick, CEO at ReSolve Asset Management, co-founders, along with Newfound Research, of the Return Stacked ETFs Suite, to unpack a strategy that’s been in the institutional playbook for decades but is now accessible to everyday investors: return stacking. Against today’s backdrop of persistent inflation, volatile markets, and shifting perceptions of alternative assets, Philbrick explains why gold and Bitcoin are moving from “fringe” to “foundational” in modern portfolios—and how the RSSX ETF offers a disciplined, behaviorally resilient way to integrate them without sacrificing the stocks and bonds investors know and trust. From the behavioral traps that cause investors to abandon diversifiers at the worst moments, to the portfolio math that shows how modest allocations can improve returns and reduce risk, this conversation delivers both the “why” and the “how” of strategic diversification. Philbrick also addresses the shifting reputational risk for advisors—from owning Bitcoin to not owning it—and the growing regulatory clarity that’s opening the floodgates for institutional adoption. Whether you’re an advisor, allocator, or investor who wants to strengthen a core portfolio without selling winners, this episode offers a blueprint for adding crisis alpha before the next crisis hits. 4 Key Takeaways:• From Fringe to Foundational: Gold’s centuries-old role as a store of value and Bitcoin’s fixed-supply, asymmetric upside make them compelling diversifiers in today’s inflationary, volatile environment.• Behavioral Risk Management: Return stacking helps avoid the tracking error and emotional selling that often plague diversifier allocations.• RSSX Structure: The ETF delivers 100% S&P 500 exposure plus an 80/20 gold-Bitcoin overlay, equal risk-weighted to manage volatility and rebalanced for efficiency.• Shifting Reputational Risk: Advisors now face greater professional risk in not understanding or allocating to Bitcoin and gold than in owning them—especially as regulatory clarity improves.Timestamps:00:00 – Why uncorrelated assets matter now02:00 – Gold and Bitcoin as strategic, not just tactical, diversifiers04:30 – Behavioral challenges of sticking with diversifiers06:00 – Return stacking explained: adding without selling08:00 – Volatility context: stocks, gold, Bitcoin10:00 – Inside the RSSX ETF structure and allocation12:00 – Implementation examples for advisors and investors14:00 – Rebalancing mechanics and volatility adjustments15:30 – Diversifying before the crisis, not after17:00 – Small starts and building from a position of strength19:00 – Institutional adoption trends and parallels21:00 – Reducing tracking error and client friction22:00 – The reputational risk shift for advisors23:30 – Regulatory clarity and institutional green lights24:30 – The mission: improve outcomes without sacrificing core equity enginesMore...🧠 Learn more at: https://returnstacked.com📘 Read more at: https://investresolve.com📊 ETFs: RSSX (Stocks + Gold & Bitcoin) #PortfolioDiversification #ReturnStacking #GoldInvestment #BitcoinStrategy #InflationHedge #AsymmetricUpside #ETFInvesting #BehavioralFinance #WealthManagement #InvestmentStrategies #MikePhilbrick #ReSolveAssetManagement #RSSXETF

In this episode of 'Insight is Capital,' Mark Robinson, the 'sh*tty leadership guy', and founder of The Sh*tty Leadership Series, joins us for a terrific conversation. With over 30 years of experience in leadership, Mark discusses the pitfalls of ego-driven management and the importance of honest, reflective leadership. We dive into the impact of fake perfection, ego, and micromanagement on team dynamics and innovation. Mark also shares practical advice on how leaders can improve by asking the right questions and fostering a culture of safety and growth. Whether you're a seasoned leader or just starting your career, this episode provides valuable insights to help you lead like a real human, not just a manager. Chapters: 00:00 The Pitfalls of Pretending to Be Perfect 01:14 Introduction to Mark Robinson: The Shitty Leadership Guy 03:40 Mark Robinson's Leadership Journey 06:19 The Dunning-Kruger Effect in Leadership 16:38 The Chaos of Performative Leadership 26:23 Micromanagement: Fear Disguised as Excellence 36:33 Introduction to Leadership Questions 36:59 The Impact of Micromanagement 39:00 Clear Communication in Leadership 43:14 Adapting Leadership Questions for Clients 51:15 The Pitfalls of Being a 'Buddy' Leader 01:05:00 Self-Reflection and Improvement for Leaders 01:06:33 Conclusion and Final Thoughts More... Mark Robinson (website) Book: The Ego Continuum Book: The Ego Continuum II Copyright © AdvisorAnalyst

What do advisors do when markets feel like a giant game of Jenga—top-heavy, fragile, and unpredictable with every move? Ahmed Farooq, Senior VP and Head of ETF Distribution at Franklin Templeton Canada joins us to explore how smart ETF design, active fixed income, and global diversification are helping advisors rebuild sturdier portfolios for an increasingly uncertain world. 🎧 Summary: In this episode, host Pierre Daillie welcomes Ahmed Farooq, for a wide-ranging, insight-packed conversation on the evolution of ETF usage by Canadian advisors. From navigating tariff turmoil and Mag-7 concentration risk to building smarter income solutions and global diversification strategies, Ahmed shares a front-line perspective from the road across Canada. He explains how Franklin Templeton is responding to market demand with low-cost passive offerings, factor-based ETFs like their Low Volatility High Dividend suite, and precision-focused actively managed fixed income solutions that are reshaping how advisors approach portfolio construction. With advisors seeking both protection and income, Farooq explains why it's time to get comfortable with complexity—because simplicity in this market can be costly. 💡 Key Takeaways:Regional Divergence in US Exposure Sentiment: Advisor views on US equity exposure vary widely across Canada—Eastern advisors are trimming, while Western clients remain overweight USD assets.Market Fragility Requires Smarter Diversification: Amid tariff threats, macro noise, and election risk, advisors are embracing factor-based strategies (like Low Volatility + High Dividend) to hedge downside without abandoning return potential.Mid-Caps Offer Shelter from MAG7 Storm: Franklin’s new FMID ETF (US Mid Cap Multifactor) helps diversify away from S&P 500 concentration by tilting toward locally domiciled, less globally exposed companies.Fixed Income: “Don’t Try This at Home” Advisors are outsourcing bond sleeve construction due to rate volatility, inverted curves, and term premium unpredictability. Ultra-short mandates like FHIS are seeing big inflows.Pricing Power for Portfolio Flexibility: Franklin’s razor-thin passive ETF fees (as low as 5 bps) free up advisors’ fee budget to allocate to alpha-seeking active or alternative strategies.Smart Beta 2.0 is Actually Just... Smarter Rules: Legacy “smart beta” is giving way to multi-layered, rules-based ETFs that integrate dividend sustainability, earnings quality, and volatility screens.Active Management is Back—for Good Reason: As bond markets become harder to read, advisors want precision, not guesswork. And they want active managers who justify their fees through measurable performance and risk control.⏱️ Chapters: 00:00 – Intro: Market Noise, Rate Cuts, and Tariff Whiplash 01:30 – Cross-Canada Advisor Sentiment on US Exposure 05:45 – Emotional Investing & Climbing the Wall of Worry 10:30 – Why Low Volatility + High Dividend ETFs Are Resonating 13:00 – Avoiding Dividend Traps: Earnings & Guidance Matter 18:20 – FMID: Mid-Cap US Multifactor as a MAG7 Antidote 24:00 – Are Mid-Caps More “Domestic”? Surprising Names & Thesis 28:00 – The Fixed Income Puzzle: Why Advisors Aren’t Going Long 33:00 – Ultra Short Flows & Advisor Reinvestment Fatigue 36:45 – Why Active Fixed Income Is in Demand Again 42:00 – Fixed Income Doesn’t Excite Advisors—That’s Why They Outsource It 44:45 – From “Smart Beta” to Smarter Rules-Based Strategies 48:00 – The Evolution of Active Fixed Income ETF Design 51:00 – The Fee Budget Shift: Where Active and Passive Coexist 55:00 – Franklin's Pricing Strategy and Competitive Edge 58:00 – Fee Budgeting: Making Room for Alternatives 01:01:00 – What's Ahead: Tariffs, Geopolitics & Diversifying for Multiple Outcomes 01:04:30 – Helping Advisors Build Resilient Models and Platforms 01:08:00 – Why Pricing, Platform Fit, and Analyst Buy-In Matter #ETFs #FranklinTempleton #FixedIncome #SmartBeta #DividendInvesting #PortfolioConstruction #ETFInvesting #AdvisorInsights #ActiveManagement #Markets2025 Copyright © AdvisorAnalyst.com

🎯 "Investors Aren’t Just Asking ‘Will I Have Enough?’—They’re Asking ‘Will I Be Okay?’" In this episode of Insight is Capital, we're joined by Sam Febbraro, SVP of Wealth Solutions at Canada Life and President & CEO of Canada Life Investment Management Ltd.. With fresh insights from Canada Life’s 2025 Abacus Data survey in hand, Sam offers a compelling look at how Canadians are thinking about their investments, what’s driving client confidence (and where it breaks down), and why the role of the advisor has never been more important—or more human. 📝 Summary Sam Febbraro reveals how today’s investors are navigating a complex web of economic uncertainty, inflation pressures, and shifting priorities. It’s no longer just about performance—it’s about resilience, safety, and purpose. Drawing on the latest investor sentiment data, Sam explains why financial advisors must evolve from product-focused strategists to trusted navigators and educators. He outlines the power of segregated funds to deliver peace of mind and estate efficiency, underscores the importance of bridging the financial literacy gap, and calls on advisors to boldly articulate their value in a post-CRM3 world. 💡 Key Takeaways:📌 #ValueOfAdvice, #SegregatedFunds, #InvestorConfidence, #FinancialPlanning, #CanadaLife

Chances are, you're already using carry strategies in your portfolio—without even realizing it. Problem is, if you’re not doing it deliberately, it might be doing more harm than good. 🔍 Episode Summary In this special episode of Raise Your Average, Pierre is joined by Adam Butler, Chief Investment Officer at ReSolve Asset Management, co-creators along with Newfound Research of the Return Stacked ETF suite, to unpack the misunderstood world of carry strategies. They dig into what carry really is—beyond just currency trades—and why most investors unknowingly take on carry risk without any plan to manage it. Adam breaks down how carry strategies work across currencies, bonds, equities, and commodities, and why combining them in a diversified portfolio can offer powerful, uncorrelated returns. He also explains how return stacking solves a long-standing advisor dilemma: how to add diversification without cutting into your core stock or bond holdings. Now, thanks to ETFs like RSSY and RSBY, retail investors can finally tap into strategies that used to be locked behind hedge fund doors. If you're an advisor or investor looking to build smarter, more resilient portfolios—without giving up performance—this conversation is a must. 💡 Key TakeawaysWhat Carry Really Means: It’s the income you get from holding an asset—like dividends, bond interest, or yield differentials between currencies.You’re Already Exposed (Probably): Many portfolios contain carry trades by accident, especially when investing internationally.Diversification That Works: A global, long/short carry strategy across multiple asset classes offers true diversification without piling on risk.Now in ETF Form: Carry strategies were once only for institutions. Now anyone can access them through ETFs like RSSY and RSBY.No Need to Sell Your Core Assets: With return stacking, you don’t have to sell stocks or bonds—you just add carry on top.Built-In Behavior Benefit: Carry becomes part of your total return, so it’s less likely to get cut when it’s underperforming.Realistic Return Potential: Expect 3–5% excess return over time at 10% volatility—similar to equities but with a different risk profile.Why This Matters: The macro space is still relatively inefficient—meaning carry has room to outperform without competition.⏱️ Chapters 00:00 – Intro: What Is Carry, Really? 01:00 – The Currency Carry Trade 101 04:00 – Beyond Currency: Carry Across Asset Classes 07:00 – Why Carry Happens Everywhere in Your Portfolio 10:00 – Absolute Return vs. Uncorrelated Return 12:00 – Accidental Carry Exposure (And How to Fix It) 14:00 – The Case for a More Deliberate Strategy 17:30 – How Return Stacking Solves the Diversification Dilemma 22:00 – Why RSSY and RSBY Are Built Differently 26:00 – Behavioral Bonus: Less Line-Item Regret 30:00 – What You Can Expect from Carry Over Time 33:00 – The Limits of Stock Picking & the Power of Macro 36:00 – Why Carry Could Be Retail’s Most Underused Advantage 40:00 – Where to Learn More and Take Action 📌 #ReturnStacking, #CarryStrategy, #ETFInvesting, #PortfolioDiversification, #AlternativeInvestments 🧠 Learn more at: https://returnstacked.com 📘 Read more at: https://investresolve.com 📊 ETFs: RSSY (Stocks + Carry) | RSBY (Bonds + Carry) 👍 Like, comment, and subscribe if you want more tools to stack your returns without breaking your portfolio.Copyright © AdvisorAnalyst