Given the year 2022 has shaped up to be so far, we thought this would be a great time to catch up with one of the true luminaries of modern investing to talk about he wraps his head around successful long-term investing. Meb Faber, illustrious co-founder and CIO at Cambria Asset Management joins Pierre and Adam to catch up on markets and investing and how he has hacked the long term investing problem. Our conversation begins with a famous quote from another investing legend and goes from there. We get into an elemental discussion about what investors can begin to do now, where to invest, where to diversify, and how to think of setting themselves up for success going forward.Highlights, we discuss:• Lots of people say they are long term investors, but...• how do you set yourself for long term investing success• what's the biggest problem in long-term investing – why?• how can you set yourself up (what investments?) so that you can remain a long-term investor no matter what happens (like this year)• How do you transition from 60/40 to something elementally more durable?• What are the current market's portfolio building blocks – why?• How much time is required?• What are the easy hurdles, the structural basic investments that should be added?• What to invest to diverge from hope that the past bubble will recover• Is 60:40 over?• 'Trinity' portfolio construction• Is technology providing better recipes?• What are the ingredients of a portfolio that allows you to remain invested no matter what happens?• Be contrarian – What is contrarian? • What's the way around inflation and higher rates• What is the most contrarian investment you can make today?• falling in 'love' with your investments complicates everything• what is all that matters in investing over the long term?• "To be a good investor, you have to be a good loser."• Question: Assuming no tax repercussions, if you could liquidate your entire portfolio and start over anew, what would you put in your new portfolio?=========================Where to find Meb Faber:=========================Meb Faber on LinkedinMeb Faber on TwitterCambria Investment Management ==========================Where to find us:==========================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com========================================="You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars.We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)

ESG has gathered a lot of steam as an essential and strategic investment component for both returns, with long term positive fundamentals, and risk management.Around roughly 1400 studies have found a positive relationship between ESG scores on the one hand and financial returns on the other, whether measured by equity returns or profitability or valuation multiples. Another factor is the cost of capital. Evidence suggests that a better ESG score translates to about a 10 percent lower cost of capital as the RISKS that affect your business, in terms of its ability to operate, are reduced if you have a strong ESG proposition.For these reasons, publicly traded companies that are actively implementing ESG in their operations are expected to be granted a valuation and risk premium as a result 'ESG goodwill,' versus those companies doing less.Samantha McDonald, Vice President, ESG Research and Engagement, and Jonathan Needham, Vice President & Director, Lead of ETF Distribution, at TD Asset Management Inc. (TDAM), join us to talk about the approach that TDAM is taking to ESG, as well as the suite of TD ESG ETFs. These ETFs invest in stocks and bonds that have strong ESG metrics and leverage exclusive Morningstar Indexes and research from Sustainalytics, a Morningstar® company and a globally recognized leader in ESG risk ratings and research.Highlights include:How do you define your view on ESG?How TDAM defines a gradual approach vs. a binary approach to ESG – Engagement vs. divestment?How TDAM's shareholder engagement on behalf of investors' alignments worksThe Aha! moment for advisorsTDAM's ESG ETFs screening methodology - sector-neutral Morningstar Sustainability Indexesmarket-like exposure with significantly lower ESG risk, relative to benchmarksPosition sizing? Benchmark replacements.Silver linings? – Taking advantage of tax-loss harvesting to increase pure beta ESG exposure.How do Morningstar Sustainable Indexes navigate geo-political concerns?Investors can now also get beta exposure to ESG corporate bond indexeshighest quality, high liquidity investment grade corporate credits for yieldBuilding blocks, maximum diversification, low or no tracking error.How do the screening rules work?What is greenwashing?Where to find our guests:Samantha McDonald on LinkedinJonathan Needham on LinkedinFor more on TDAM ETFs, visit td.com/etfs

There's a race going on in the industrial sector to modernize, technologize, compete, as well as de-carbonize. Ivana Delevska, Chief Investment Officer, SPEAR Invest, joined us to discuss the her investment thesis and strategy, underlined by her firm's research that following roughly 5 years of underinvestment, industrial companies have significant capital expenditures in front of them to catch up on, which will lead to greater adoption of industrial technology. We get into the important developments that may make for some outsized opportunities in both the industrial and technology sectors, in the not so distant future. Ms. Delevska is the Founder and CIO of SPEAR. She founded the Advisor in 2021 after spending 14 years evaluating and investing in industrial and industrial technology companies. Ms. Delevska spent four years covering Multi-Industry companies at Deutsche Bank as a Vice President (2017-2018) and Gordon Haskett as a Director (2018-2021). Prior to that time, she spent 10 years as a Senior Analyst on the buy-side at several long/short hedge fund platforms: Tiger Management, Millennium Management, Citadel Asset Management, and Davidson Kempner.Ivana started her career at JP Morgan in the Mergers andAcquisitions Group. She graduated from the University of Chicago in 2006 with a BA in Economics.=========================================Where to find Ivana Delevska and SPEAR Invest:=========================================Ivana Delevska on LinkedinIvana Delevska on TwitterSPEAR Invest for up to date holdings and prospectus=========================================Where to find the Raise Your Average crew:=========================================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com========================================="You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars.We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)

Every stock market correction is unique, with its own causes and consequences. There are some similarities between the current market decline and past declines.Take today's example; following a period of speculation and excess that began in 2020, tech stocks have taken a beating, some from as early as Q2 2021. It's reminiscent of the tech rout in 2000, when value stocks outperformed technology stocks.In fact, value stocks are outperforming, and providing both meaningful relative positive returns, across the board in this stock market rout. Value is outperforming in large-cap U.S., small-cap U.S. segments, foreign-developed stocks and emerging market stocks. If you're wondering whether this resurgence in value stocks is fleeting, it's advisable to recall that the forces that are shaping inflation and inflationary volatility are likely to outlast our expectations, our hopes.Value investing great Stephen Jenkins, Co-CIO, and Portfolio Manager, and Jackie Au, Portfolio Manager, Sionna Investment Managers join us this episode for an enlightening and insightful conversation, sharing their wisdom about value investing's long term durability, how they do value investing, the relative underperformance of value factor vs. growth factor (value stocks did what value stocks always do, but they didn't do as well as growth stocks), and how the regime change of inflationary volatility and rising rates that has crushed growth stocks is favourable to value investors.We also get a good look at some of the names and sectors they favour, with Stephen and Jackie talking about names they are holding, that fulfill their definitions of value.==================================Where to find the Stephen Jenkins and Jackie Au:==================================Stephen Jenkins, Co-CIO, Sionna Investment ManagersJackie Au on LinkedinSionna Investments==================================Where to find the Raise Your Average crew:==================================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo Adam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com*****"You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars. We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)

Nicolas Piquard, Vice-President & Portfolio Manager with Horizons ETFs Canada, joined us to talk about the significance of accessing three key commodity-focused sectors and asset classes in the context of today's global "low-carbon" ambitions. The biggest challenge for investors in 2022 is reconciling the need for diversification, largely in allocating more portfolio exposure to commodities and hard assets, with the fact that many of these sectors and asset classes are not aligned with responsible investing.In this episode we explore the much-debated commodities that are expected to play a significant role in defining energy, consumption, industrial production - sectors and asset classes that could benefit from inflation, while offering exposure to the longer-term trends in renewable energy and carbon emission reduction.We get into the nuts and bolts of how investors can more effectively align themselves with inflation using commodity-focused thematic strategies focused on the potential long term drivers of return in Uranium, Lithium, Carbon and Carbon Credits.=========================Where to find Nicolas Piquard:=========================Nicolas Piquard on LinkedinETFs discussed: HURA - Horizons Global Uranium Index ETF HLIT - Horizons Global Lithium Producers Index ETFCARB - Carbon Credits ETF===============================Where to find the Raise Your Average crew:===============================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.comCopyright © AdvisorAnalyst.com

Mark Noble, Executive Vice President, ETF Strategy joins us to discuss the reasons markets have become so fragile in the wake of COVID, the inflation trend, rising rates and the war in the Ukraine which are defining the beginning of perhaps a new economic and market regime, and giving sharp definition to a number of key investment themes. We discuss the investing climate, and thematic investment trends and opportunities, some of which are still in their infancy, and some that are more mature, but have been made all the more enticing post this year's tumultuous first trimester and stock market's profound volatility and correction.We hope you find the discussion insightful and useful.Where to find Mark Noble:Mark Noble on LinkedinThematic ETFs Mentioned:HURA - Horizons Global Uranium Index ETFHLIT - Horizons Global Lithium Producers Index ETFHMMJ - Horizons Marijuana Life Sciences Index ETFCHPS - Horizons Global Semiconductor Index ETF

Brooke Thackray, Research Analyst, Horizons ETFs Management, and Kim Inglis, Portfolio Manager at Raymond James Canada join us for a fascinating deep dive looking at 'seasonal rotation' investment strategy, the revealing and repetitive behavioural patterns that define key undercurrents in markets, and how he approaches the nuanced task of navigating annual seasonal uptrends and downtrends across a variety of equity markets, equity sectors, the bond market, and other asset categories.Brooke Thackray provides the research and analysis that guides the Horizons Seasonal Rotation ETF, ticker HAC. We quickly set aside the question of "How has the Seasonal Rotation strategy worked?" and get into the nuts and bolts of Thackray's research and implementation – "How do you do it?"It's noteworthy to mention here that HAC is Canada's longest tenured actively-managed, multi-asset strategy ETF.What you'll discover is that Thackray's approach to seasonal rotation, and the technical analysis work that supports the strategy's strict, but flexible, and systematic approach has for the better part of 12 years, been an underloved darling among actively managed ETFs.Enjoy the episode! Like, follow, and subscribe to our channel, and leave us a comment. Please help us get the word out and grow our following.Where to find Brooke Thackray:Brooke Thackray on LinkedInBrooke Thackray – alphaMountainHorizons Seasonal Rotation ETF (HAC)Where to find Kim Inglis:Kim Inglis on LinkedinKim Inglis – Inglis Private Investment CounselKim Inglis – Raymond James CanadaWhere to find the Raise Your Average crew:ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com*****"You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars.We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.

Ronald Landry, Head of Product & Canadian ETF Services at CIBC Mellon joined us for a look at the trends and developments that are shaping the growth of the Canadian ETF industry. Landry has been in the Canadian investment management industry for nearly 30 years, spending the past most recent 20 years in the once-nascent, and now flourishing ETF industry. Markets have gotten off to a rough in 2022, and we've just been through some pretty tumultuous, AND exciting times during the last two years, and what were until the end of 2021 pretty hot investment markets. From his unique position at the centre of the Canadian ETF industry, Landry shares his thoughts on what he is most excited about, what's changing, and what's new.We discuss some of the biggest trends driving the Canadian ETF space – What's been expanding, what's been receding, the fastest growing segments, and some insights on flows and investor behaviour.Our conversation turns as we get into how the change in regime that is taking place in the context of inflationary pressures and rising rates are re-directing flows and product formation, and the newest kinds of ETF solutions, as well as the progress that's happening vis-à-vis liquid alts ETF formations.Finally, Landry, who has been closely watching the ETF and markets' regulatory landscape reveals some big changes that are coming on the settlement (T+1, T+0) and improved taxation and efficiency (re: taxable distributions from funds).============================Where to find Ronald Landry:============================Ronald Landry on LinkedinCopyright © AdvisorAnalyst.com

Eric Balchunas, Bloomberg's Senior ETF Analyst joins us for a conversation about his journey and discoveries in the course of writing "The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions." Eric has a unique perspective as a senior ETF analyst at Bloomberg Intelligence, having researched and analyzed the Bogle Effect extensively. He is able to combine his data with interviews with Jack Bogle himself and over 50 people who knew him well, including Warren Buffett, Micheal Lewis, Cathie Wood, Cliff Asness, John Bogle Jr., Brad Katsuyama, Gus Sauter and Jason Zweig.One of Balchunas' big takeaways is the revelation that passive investing and index funds are not to blame for the rise of passive investing, as they would not have been a big deal without Vanguard's structure, in the first place.The Bogle Effect is a biography, analysis, and how-to guide with Balchunas as your tour guide. Through his experiences and insights, Balchunas helps investors and professionals understand the ways that Vanguard and Bogle have impacted the industry.“He commandeered trillions of dollars, and he only made a few million himself. In the history of Wall Street, the ratio of money touched to money taken was never so high.”- Michael Lewis==================================Where to find Eric Balchunas==================================Eric Balchunas on TwitterEric Balchunas on LinkedinTrillions Podcast (Bloomberg)Trillions Podcast (Apple)The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions==================================Where to find the Raise Your Average crew:==================================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com============================"You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars. We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)

Our very special guest Andrew Beer, has a fascinating background and career in finance. He is a managing member at Dynamic Beta Investments, one of the oldest firms doing liquid alternatives. Their mission is to sponsor and roll out ETFs that look like managed futures (CTAs) and hedge funds, except with full transparency, liquidity, and none of the high fees.Dynamic Beta Investments' approach is both unique and fascinating, which brings Jack Bogle's philosophy to the managed futures (CTAs) and hedge fund space.If you’re looking to liquid alts or manage futures and want to learn more about how these things work, stay tuned, you’ll find this to be an enlightening and insightful conversation.========================Where to find Andrew Beer:Andrew Beer on LinkedinAndrew Beer on TwitterDynamic Beta InvestmentsRelevant publications:It’s Time to Clean Up Managed Futures Mutual FundsLiquid Alternatives - 2.0How Hedge Funds Became the New Fixed Income Substitute=========================================Where to find the Raise Your Average crew:=========================================ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on LinkedinAdvisorAnalyst.com========================================="You don't have to be brilliant, just wiser than the other guys, on average, for a long time." Charlie MungerWelcome to Raise Your Average, our deep dive journey into learning from the people and process behind the world of investing. Through conversations with leaders in the investments game, we peel back the layers of the onion on how these holders of the keys to the kingdom allocate their time, their energy, and their dollars.We are all students and we are all teachers. We are the average of the 5 people we spend the most time with. Come hang out with us for a while and raise your average, as we raise ours.Music credit: In Hip Hop, Paul Velchev (8MJZA6T3LK)