Resolve Riffs Investment Podcast

Dive into the fascinating world of carry strategies as an expert unravels the dynamics of yields across diverse asset classes. Discover the stark differences between highly liquid markets and a broader selection, revealing intriguing performance divergences. With detailed statistical analyses and historical patterns, the discussion sheds light on how soft commodities impact returns. Tune in for insights into long-term investment strategies and the potential for market reversals amid current challenges.

Join Moritz Seibert, founder and CEO of Takahē Capital, and Moritz Heiden, head of quantitative research, as they dive into the dynamic world of systematic trading. They discuss how Takahē evolved amidst ESG challenges, offering a fresh perspective on trend-following strategies. The duo emphasizes rigorous risk management and the balance between simplicity and complexity in trading models. They navigate the intricacies of trading in liquid and illiquid markets while advocating for high-octane approaches, all while maintaining a long-term investment perspective.

This in‐depth live Q&A features guests Corey Hoffstein, Chief Investment Officer of Newfound Research, and Adam Butler, CIO of ReSolve Global, alongside host Rodrigo Gordillo, President and Portfolio Manager of ReSolve Global. In this episode, the panel unpacks the current macro market shifts and their impact on managed futures strategies, discussing topics such as policy shocks, systematic trend and carry models, volatility, and historical market precedents.Topics Discussed• Global Macro Market Dynamics and Policy Shifts affecting asset classes across Europe, the U.S., and beyond• The Cumulative Impact on Managed Futures and Systematic Strategies that span multiple asset classes• Multi-Asset Carry Strategy Fundamentals, including yield extraction and financing differentials• Trend Following Strategies under Volatile and Reversal Conditions in rapidly shifting markets• Risk Adjustments and Portfolio Rebalancing Mechanisms as systematic models react to sudden market changes• Historical Precedents: Lessons from events like the 1994 bond massacre and subsequent policy shocks• The Interplay between Policy Announcements and Systematic Strategy Performance amid geopolitical surprises• Advisory Perspectives and Long-Term Risk Management for communicating drawdowns and premiums to clients

David Woo, CEO of David Woo Unbound and former strategist at Bank of America, shares his insights on global economic shifts. He discusses the impact of U.S. trade policies on Europe, particularly following Germany's elections. Woo delves into tariffs and their effects on industries like automotive, and explores emerging market opportunities amid changing investor flows. He also analyzes technology disruptions in cloud and semiconductors, while emphasizing necessary fiscal discipline to manage inflation and bolster economic stability.

Daniel Waldenström, a professor of economics renowned for his analysis on growth and distribution, shares his insights on wealth inequality and economic crises. He delves into the lessons from Sweden's economic turmoil in the 90s, emphasizing the role of policy makers. The discussion contrasts wealth dynamics in the U.S. with other Western nations and highlights the importance of education, labor laws, and asset price appreciation in shaping economic outcomes. Waldenström also explores the impact of AI and financialization on the future of labor and wealth distribution.

In this riveting episode, the ReSolve team converses with Warren Mosler, a prominent economist and theorist in the field of Modern Monetary Theory (MMT). The conversation is enriched by the presence of Richard Latterman, a portfolio manager at Resolve, who is keen on gaining insights on policy and economics. The discussion dives deep into the evolution of economics, the departure of MMT from classical economics, the impact of interest rates on inflation, and the intricacies of the banking system.Topics Discussed• Warren Mosler provides an introduction to Modern Monetary Theory and how it deviates from classical economics• The discussion delves into the order of operations in economics, with a focus on the concept of 'spend before taxing and borrowing'• Exploration of the role of the U.S. government in the creation of dollars and the implications of this process• Discussion on the fear of removing the scarcity constraint or the scarcity mindset in economics• Analysis of the impact of interest rates on inflation, challenging conventional economic wisdom• Understanding the concept of continuous change in the price level under floating exchange rates• The conversation delves into the complexities of the banking system and the role of regulations and compliance• Warren Mosler shares his views on the potential impact of certain policy suggestions on the current economic system.• The discussion concludes with Warren Mosler sharing his non-consensus views on investment and asset allocation.This episode is a treasure trove of insights for anyone interested in understanding the nuances of Modern Monetary Theory, the impact of interest rates on inflation, and the intricacies of the banking system. Warren Mosler's insightful views challenge conventional economic wisdom and provide a fresh perspective on the evolution of economics and economic policy.

Explore the intriguing world of portable alpha, an investment strategy that enhances returns by blending traditional and alternative assets. Learn how capital-efficient ETFs like RSSB enable investors to stack returns and optimize portfolios. The discussion dives into strategies for maximizing portfolio efficiency, using U.S. Treasury futures, and achieving diversification. Discover innovative ways to construct portfolios that tackle common funding challenges while enhancing performance. Get ready for a fresh perspective on investment strategies!

In this discussion, John Skrentny, a UC San Diego sociology professor and author of Wasted Education, tackles the complexities of STEM education and workforce dynamics. He critiques the myth that more STEM graduates directly translate to innovation. Topics include the surprising career paths of STEM graduates, the role of universities in continuous training, and the necessary blend of technical and non-technical skills. Skrentny also highlights the impact of AI on job demand and the importance of adapting educational approaches to prepare for future challenges.

Meb Faber, a financial expert, discusses the potential of cannabis investments and unique strategies that counter crowd consensus on Twitter. Corey Hoffstein, a crypto advocate, proposes a complex trading strategy involving Bitcoin and Ethereum. Wes Gray shares insights on enhancing transparency in exchange funds and analyzes the energy sector's growth potential. The conversation is lively and packed with innovative investment ideas, perfect for anyone looking to navigate the ever-evolving financial landscape.

In this engaging discussion, Brian Portnoy, co-founder of Shaping Wealth and author on behavioral finance, shares insights on the evolving field of financial planning. He introduces 'behavioral finance 2.0,' highlighting the need for advisors to embrace clients' humanity. They explore concepts of identity, reflective happiness versus life satisfaction, and the importance of emotional intelligence in client interactions. The episode also presents Lydia, an innovative AI tool designed to enhance empathetic communication in financial advising, fostering deeper connections and meaningful dialogue.