Resolve Riffs Investment Podcast

Aahan Menon, founder of Prometheus Macro and a systematic macro strategist, shares insights on dynamic investing strategies. He critiques the effectiveness of long-term forecasts and advocates for shorter trading horizons to enhance portfolio performance. Aahan discusses his investment framework centered around carry, trend, and mean reversion, emphasizing the importance of adapting to evolving macroeconomic conditions. He also highlights a significant divergence between labor market data and economic output, adding depth to the conversation on navigating this shifting landscape.

Mike Green, Chief Strategist at Simplify Funds, sheds light on the American affordability crisis based on his viral writings. He challenges the dismissive 'mockery machine' surrounding economic realities, highlighting the disparity between official metrics like CPI and people's experiences of rising costs. Green discusses the concept of 'ghost households' opting out of parenthood due to financial strain, critiques outdated poverty definitions, and explores innovative policy solutions like tariffs and targeted incentives to enhance family stability and mobility.

Wes Gray, Founder and CEO of Alpha Architect, dives into advanced tax-efficient investing strategies. He explains Section 351 contributions for converting diversified portfolios into tax-deferred ETFs. Wes also compares exchange funds for concentrated stocks and market-neutral strategies for tax loss harvesting. He discusses the 'physics of tax' in deferral versus elimination of liabilities, and shares insights on using box spreads for better tax treatment. The conversation reveals the burgeoning demand for innovative tax optimization solutions among high-net-worth investors.

In this episode, Adam Butler is joined by Harley Bassman, Managing Partner at Simplify Asset Management, for a wide-ranging discussion on interest rate volatility, portfolio construction, and public policy. Bassman explains his creation of the MOVE Index before diving into strategies using long-dated options to create asymmetric payoffs. They also explore the systematic risks that challenge diversified portfolios during Fed policy inflection points. The conversation concludes with Bassman's strong case against the re-privatization of Fannie Mae and Freddie Mac, detailing the potential negative consequences for the housing market.Topics Discussed• The creation and mechanics of the MOVE Index as a VIX for the bond market• Explaining complex financial derivatives by drawing analogies to fundamental physics concepts• Constructing highly asymmetric, long-term trades based on the shape of the yield curve• The failure of traditional diversification during major inflection points in Federal Reserve policy• The paradigm shift to passive investing flows overriding traditional market valuation metrics• A new trade idea involving a positive-carry call option on Treasury rates as a recession hedge• The evolution of portfolio tools like Return Stacking and derivative-based ETFs• Identifying U.S. immigration policy as the most significant and overlooked macroeconomic risk• The public policy argument against the re-privatization of Fannie Mae and Freddie Mac

The hosts dive into the current relevance of managed futures, discussing recent drawdowns and behavioral hurdles investors face. They highlight the macro case for diversification, especially amid concentrated U.S. portfolios and inflationary concerns. The impact of AI on commodity demand and global trends is a hot topic, as is the strategy of return stacking to enhance portfolio performance. Listeners gain insight into how to navigate policy shocks while effectively allocating resources to capture potential market opportunities.

Rodrigo Gordillo and Mike Philbrick dive into Bitcoin's transformation from fringe asset to essential portfolio component. They explore Bitcoin and gold's unique qualities, advocating for strategic allocation in diverse portfolios. The discussion highlights how regulatory advancements and innovative ETFs are fostering Bitcoin's mainstream acceptance. Return stacking techniques are analyzed to maximize portfolio performance despite volatility. This insightful conversation is packed with essential strategies for adapting to today’s shifting investment landscape.

In this episode of ReSolve Riffs, host Mike Philbrick and Rodrigo Gordillo welcome Mark Valek, partner at Incrementum AG and co-author of the acclaimed In Gold We Trust report. Mark, a seasoned macro investor with decades of expertise at the intersection of gold, monetary policy, and systemic risk, offers deep insights into the evolving roles of gold and Bitcoin. The discussion covers a diverse range of topics including macro investing, fiscal dominance, central bank gold accumulation, innovative portfolio allocations, and the emergence of Bitcoin as digital gold.Topics Discussed• Gold as a superior store of value with a stable stock-to-flow ratio• The impact of central bank gold accumulation amid global financial uncertainty• Fiscal dominance, counterparty risks, and the influence of geopolitical tensions• Future gold price scenarios and detailed long-term predictions under varying inflation conditions• The evolution of Bitcoin as a digital alternative to traditional gold• Reimagining the classic 60/40 portfolio with an emphasis on hard assets• Practical investor guidance on asset allocation strategies and risk management

Dive into the fascinating world of gold as Mike Philbrick and Rodrigo Gordillo explore its resurgence as a powerful asset for diversification and stability. They compare gold and bitcoin, highlighting behavioral biases and the evolving role of both in modern portfolios. Discover strategies for managing volatility, leveraging assets, and navigating market trends. The duo discusses how emerging markets are reshaping gold demand and the importance of constructing balanced portfolios designed to withstand economic fluctuations.

In this engaging discussion, Rafael Ortega, a Spanish investor and Senior Investment Fund Manager at Andbank Wealth Management, shares his groundbreaking insights on return stacking and developing all-terrain portfolios. He delves into the evolution of investment strategies, emphasizing the need for adaptability and risk balance. Rafael highlights the importance of clear communication for investors, customized portfolio strategies, and the integration of non-traditional diversifiers. He also explores the future of portable alpha in a changing market landscape.

Julian Brigden, president and founder of MI2 Partners, joins to share his insights as a market strategist. He discusses the decline of U.S. exceptionalism and the implications for the dollar's strength amid rising global competition. The conversation navigates vulnerabilities in the treasury market and how fiscal policies under the Trump administration have reshaped capital flows. Additionally, Brigden highlights the shift of global investors towards alternative assets and the geopolitical recalibration affecting U.S. foreign policy.