Resolve Riffs Investment Podcast

In this episode, Dominique Dwor-Frecaut shares her journey from working in large organizations such as the IMF and the New York Fed to her current role in a startup called Macro Hive. She discusses the culture of meritocracy, openness to ideas, and learning from mistakes that defines Macro Hive, and how it differs from her previous experiences.Topics Discussed• Insight into the culture of meritocracy at Macro Hive and the value of diverse opinions and contributions• Comparison of policy enactment in the US and Europe, with a focus on the influence of cultural undertones• Discussion on the current financial landscape, with strong growth, high but stable inflation and a dovish Fed• Analysis of the impact of lower energy prices on household income, manufacturing and services• Examination of the US fiscal proflicacy and its implication• Discussion on the correlation between energy prices and non-energy inflation• Insights into the Fed's focus on the employment leg of the mandate and its disregard for the inflation leg• Discussion on the potential for a financial crisis due to high levels of debt and the possibility of the Fed tightening prudential rules• Discussion on the potential impact of China's economic situation and the US banking sector crisis on the global economy• Predictions for the future, including the possibility of higher inflation and financial volatilityThis episode provides a deep dive into the complexities of the current financial landscape, the potential risks, and predictions for the future. It's a must-listen for anyone interested in gaining a nuanced understanding of the economic dynamics at play and the potential implications for the future.This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this comprehensive episode, Danielle DiMartino Booth, CEO & Chief Strategist for QI Research, joins the discussion to tackle various topics surrounding the Federal Reserve's leadership, monetary policy and the current economic challenges. Key themes covered include:• Jay Powell's leadership and controversies within the Federal Reserve Board • The impact of monetary policies on Wall Street, mortgage rates and unregulated loans, with insights into Powell's motivations and challenges • The multifaceted consequences of the COVID-19 pandemic on the Federal Reserve's policy decisions and potential implications on inflation • The role of central clearing, systemic risk, and technology on the financial market • Explorations into credit easing, inflation battles, and the influence of monetary policy in the treasury market • The Fed's impact on commercial real estate, credit, and the treasury market, along with insights on housing resilience • A deep dive into inflation, quantitative tightening, and how economic indicators affect the treasury market • Discussions on Powell's experiences, interest rate considerations and the influence of fiscal policies on treasury markets and financial engineering • Assessments on data releases, regional banking challenges and wider implications of low-interest rates on the economy • The Fed's interest rate strategies, credit market signals, future of financial regulations and the overall economic outlook This information-packed episode is a must-listen for those keen on understanding the complexities of the Federal Reserve, monetary policy and the evolving economic landscape. Gain valuable insights and expert opinions on how to navigate through these challenging times.This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

Meketa’s Jason J. Josephiac, Senior Vice President / Research Consultant, and Ryan Lobdell, Managing Principal / Consultant, joined Adam and Rod to discuss their new white paper. They discuss key strategies and insights for managing risk and allocating assets in today's challenging investment environment, covering a wide range of topics, such as: • The importance of comprehensive risk management and portfolio allocation strategies in diversifying investments • Innovative Investment approaches and trends in risk mitigation, particularly as they relate to endowment and LDI models • Balancing risk and return in investment portfolios through diversification and manager selection • Asset allocation techniques for maximizing returns while maintaining liquidity and capital efficiency • Manager selection and risk mitigation strategies in diverse investment environments, highlighting leverage and portable alpha • Optimizing the selection and allocation of private investments to achieve a more efficient and effective portfolio • Diversification and risk mitigation strategies for endowment portfolios, focusing on achieving a balanced allocation • Navigating inflation, risk management, and alternative investment strategies in 2021-2022 with insights from experienced consultants • Creating balanced portfolios and implementing effective risk management strategies, featuring diverse investment approaches • The role of real estate, private markets, and evolving asset allocation ideas in navigating economic uncertainties This comprehensive resource is a must-read for anyone interested in understanding the complexities of risk management and asset allocation in today's challenging investment landscape. Get expert insights on diversification, portfolio management, manager selection, and risk mitigation strategies to optimize your investment outcomes. *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the ReSolve team is joined by Darius Dale, Founder and CEO of 42 Macro, to discuss the importance of macro indicators and strategies for navigating uncertain times in the financial markets. He covers a vast array of topics, including: • The role of macro indicators in understanding market cycles and making informed investment decisions • The Weather model as a risk management tool, focusing on 10 principal components of macro • The impact of institutional investors on Bitcoin's future and the potential for significant value increase • The complexities of the dollar outlook and the factors influencing its performance • The rising probability of a risk-off event and the importance of monitoring cross asset correction risk indicators • The challenges faced by the Federal Reserve in managing inflation and the implications for the bond market and employment mandate This episode is a must-listen for anyone interested in macro indicators, market cycles, and strategies for navigating uncertain financial times. Gain valuable insights and tactics to better understand the complexities of the financial landscape and make well-informed investment decisions. This is “ReSolve Riffs” – live on YouTube Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick, and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc. *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association ("NFA"). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the ReSolve team is joined by Alfonso Peccatiello, a macro strategist and the creator of the popular Twitter account @MacroAlf, to discuss liquidity, the global macro landscape, and the implications for investors. We delve into various topics, including • The impact of demographics and debt on economic growth and the challenges faced by countries in maintaining living standards •The significance of the Global Liquidity Index in understanding rapid changes in equity market behavior •The orthogonal approach to the traditional All Weather framework, focusing on credit-oriented growth measures and policymaker stances on inflation •The Forever Portfolio allocation and the importance of adjusting it using macro analysis to apply tilts based on the current macro cycle •The labor market dynamics reflecting a bifurcation due to the lag in the dispersion of the $5 trillion capital injection into the economy •The potential impact of US fiscal deficits on nominal growth over the next decade, influenced by demographics, private sector leverage, and productivity growth   This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.   *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the Doomberg team explores the complexities of energy policy, market dynamics, and innovative solutions for a decarbonized and sustainable future. The discussion covers a range of topics, including: •  Balancing passion, authenticity, and market strategies in business, writing, and investing •  The pros and cons of various energy solutions, such as solar, nuclear, and alternative energy sources • Evaluating the political context of energy policies and the role of government in shaping the future of global energy • The impact of innovations in battery storage and fusion on the future of nuclear power and decarbonization • Germany's experience with energy policy and the implications of deindustrialization • The importance of risk management and waste disposal in the nuclear energy sector • China's influence on the global solar industry and the need for a domestic supply chain in the United States • Overcoming challenges with limited resources, optimism, and innovation • The power of rational, polite debate, and the role of authentic, data-driven content in the Doomberg brand This episode offers invaluable insights for anyone interested in energy policy, renewable energy sources, and sustainable economic growth. The Doomberg team's in-depth analysis and thought-provoking debates will help listeners navigate the complexities of today's energy landscape and engage with the critical decisions shaping the future of global energy. This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management. *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this comprehensive exploration of global liquidity, Michael Howell shares his expertise and insights on a range of critical topics affecting financial markets, economies, and investment opportunities. Throughout the discussion, the following themes are explored: •Central bank policies, inflation, and market liquidity: Global perspectives and challenges • Monetary policy, government spending and inflation: Impacts on the global economy and investment • Global liquidity, monetary inflation, and central bank balance sheets: Evolving dynamics and effects • Quantitative easing, liquidity, and the US Dollar: Challenges and implications for policymakers • Government spending, inflation and global money flows: Impacts on currency and financial markets • Central bank strategies, inflation and liquidity: Managing growth in a debt-ridden economy • Government fiscal policies, liquidity and debt management: Global perspectives and impacts • US dollar dominance, global liquidity and market implications: Exploring currency and capital • Interest rates, quantitative easing and global liquidity: Investment strategies and economic effects This intensive examination of global liquidity is ideal for anyone interested in understanding the complexities and impacts of liquidity on financial markets, economies and investment decisions. Don't miss out on these valuable insights and analyses to help you stay informed and adaptable in today's constantly changing financial landscape. This is “ReSolve Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick, and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc. *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, Corey Hoffstein, CIO of Newfound Research, Rodrigo Gordillo, President of ReSolve Global* and Adam Butler, CIO of ReSolve Global, delve into the concept of return stacking and introduce the innovative RSBT Return Stacked™ Bonds & Managed Futures ETF. This podcast is essential for investors, financial advisors, and anyone interested in learning more about return stacking, the RSBT ETF, and the potential benefits of combining bonds and managed futures for portfolio diversification and risk management. Don't miss out on this insightful conversation to deepen your understanding of these innovative investment strategies and their potential impact on today's complex financial markets. They cover a wide range of topics, including:  The motivation behind the return stacking concept and its relevance in today's market environment  The history of institutional leverage and diversification in retail portfolios  The advantages of using return stacked strategies for portfolio construction and risk management  The role of bonds and managed futures in building a robust, diversified investment portfolio  The importance of low correlation between asset classes for effective diversification  The mechanics of combining bond exposure with a managed futures overlay in the RSBT ETF, including the use of cash collateral and Treasury Futures  The benefits of using ETFs as capital-efficient building blocks for return stacking  The potential for a family of return stacked ETF products to address various investor needs and preferences  The significance of managed futures as a "third leg of the stool" for managing inflation and mitigating market risks  The challenges and opportunities related to implementing managed futures strategies and managing leverage in retail portfolios  The goal of matching the RSBT ETF's bond strategy to core US fixed income, such as the Bloomberg US Core Aggregate Bond Index, and adjusting duration accordingly      *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.   Definitions:  Long/Short, Beta Disclosures: Indexes are unmanaged and do not have fees. One cannot invest directly in an index. For a full list of holdings, click here.   Investors should carefully consider the investment objectives, risks, charges and expenses of the Return StackedTM Bonds & Managed Futures ETF. This and other important information about the ETF is contained in the prospectus, which can be obtained by calling 1-310-498-7655 or clicking here. The prospectus should be read carefully before investing. Investing involves risk including possible loss of principle. Derivatives Risk. Derivatives are instruments, such as futures contracts, whose value is derived from that of other assets, rates, or indices. The use of derivatives for non-hedging purposes may be considered to carry more risk than other types of investments. Cayman Subsidiary Risk. By investing in the Fund's Cayman Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary's investments. The futures contracts and other investments held by the Subsidiary are subject to the same economic risks that apply to similar investments if held directly by the Fund. The Subsidiary is not registered under the 1940 Act, and, unless otherwise noted in the Fund's Prospectus, is not subject to all the investor protections of the 1940 Act. Bond Risks. The Fund will be subject to bond and fixed income risks through its investments in U.S. Treasury securities, broad-based bond ETFs, and investments in U.S. Treasury and fixed income futures contracts. Changes in interest rates generally will cause the value of fixed-income and bond instruments held by Fund (or underlying ETFs) to vary inversely to such changes. Commodity Risk. Investing in physical commodities is speculative and can be extremely volatile. Commodity-Linked Derivatives Tax Risk. The tax treatment of commodity-linked derivative instruments may be adversely affected by changes in legislation, regulations, or other legally binding authority. As a registered investment company (RIC), the Fund must derive at least 90% of its gross income each taxable year from certain qualifying sources of income under the Internal Revenue Code. If, as a result of any adverse future legislation, U.S. Treasury regulations, and/or guidance issued by the internal Revenue Service, the income of the Fund from certain commodity-linked derivatives, including income from the Fund's investments in the Subsidiary, were treated as non-qualifying income, the Fund may fail to qualify as RIC and/or be subject to federal income tax at the Fund level. The uncertainty surrounding the treatment of certain derivative instruments under the qualification tests for a RIC may limit the Fund's use of such derivative instruments. Commodity Pool Regulatory Risk. The Fund's investment exposure to futures instruments will cause it to be deemed to be a commodity pool, thereby subjecting the Fund to regulation under the Commodity Exchange Act and the Commodity Futures Trading Commission rules. Because the Fund is subject to additional laws, regulations, and enforcement policies, it may have increased compliance costs which may affect the operations and performance of the Fund. Credit Risk: Credit risk refers to the possibility that the issuer of a security will not be able to make principal and interest payments when due. Changes in an issuer's credit rating or the market's perception of an issuer's creditworthiness may also affect the value of the Fund's investment in that issuer. Currency Risk: Currency risk is the risk that changes in currency exchange rates will negatively affect securities denominated in, and/or receiving revenues in, foreign currencies. The liquidity and trading value of foreign currencies could be affected by global economic factors, such as inflation, interest rate levels, and trade balances among countries, as well as the actions of sovereign governments and central banks. Foreign and Emerging Markets Risk. Foreign and emerging market investing involves currency political and economic risk. Leverage Risk: As part of the Fund's principal investment strategy, the Fund will make investments in futures contracts to gain long and short exposure across four major asset classes (commodities, currencies, fixed income, and equities). These derivative instruments provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. Non-Diversification Risk. The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified funds. Underlying ETFs Risk. The Fund will incur higher and duplicative expenses because it invests in bond ETFs. The Fund may also suffer losses due to the investment practices of the underlying bond ETFs. New Fund Risk. The Fund is a recently organized with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Toroso Investments, LLC ("Toroso*) serves as investment adviser to the Funds and the Funds' Subsidiary. Newfound Research LLC ("Newfound*) serves as investment sub-adviser to the Funds. ReSolve Asset Management SEZC (Cayman) ("ReSolve*) serves as futures trading advisor to the Fund and the Funds' Subsidiary. The Return StackedTM Bonds & Managed Futures ETF is distributed by Foreside Fund Services, LLC, Member FINRA/SIPC. Foreside is not affiliated with Toroso, Newound, or ReSolve.

In this episode, the ReSolve team is joined by Julian Brigden, Co-Founder & President of Macro Intelligence 2 Partners, to discuss his outlook on the current macroeconomic landscape, focusing on the secular USD trend and its impact on global markets.  We cover a wide range of topics, including: •      The ongoing debate between inflation and deflation, and the potential consequences of each •      The role of central banks in driving market liquidity and asset prices, and the implications for investors •      The possibility of an impending recession driven by tightening credit, inventory cycles, and housing market adjustments •      Central banks' ability to foresee economic changes and their willingness to act on them •      The mixed signals and challenges of investing in a market dominated by big tech and its impact on diversification •      The potential for a currency-driven shift in market dynamics, with a focus on the US dollar •      The importance of asset allocation and risk management in navigating an uncertain market environment •      The impact of behavioral biases on decision-making and portfolio management •      The potential benefits and risks of systematic investment strategies in the current market context ·       Julian's thoughts on future trends and potential market opportunities, particularly in the macro space   This episode is a must-listen for anyone interested in macroeconomic trends, currency markets, and the challenges of investing in today's complex and uncertain environment, offering valuable insights and strategies to navigate these intricate markets.   This is “ReSolve Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick, and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.

In this episode, the ReSolve team welcomes Roni Israelov, Chief Investment Officer and President of  NDVR, to discuss advanced portfolio strategies for optimizing tax efficiency, credit exposure, and cash flow objectives.  We explore a wide range of topics, including: Roni's background and experience in asset management, including his time at AQR Capital Management and Lehman Brothers  The importance of portfolio construction and implementation in achieving investment goals  The challenges and opportunities in managing custom lifestyle-protected growth portfolios  The role of research and model building in informing and optimizing investment strategies The impact of transaction costs and factor decay profiles on portfolio performance  The benefits and risks of incorporating short-term signals within long-term investment models, and using short-term models to adjust overall trading Lessons learned from building and managing option strategies focused on harvesting volatility risk premiums  The role of investor psychology and behavioral biases in decision-making and portfolio management  The importance of diversification and risk management in navigating uncertain markets  The complexity of characterizing individual investors' utility functions and the need for custom portfolios to best satisfy unique objectives Future trends and potential opportunities in the wealth optimization space    This episode is a must-listen for anyone interested in advanced portfolio strategies, tax efficiency, credit exposure, and cash flow goals, providing valuable insights and practical advice for navigating complex financial markets and achieving lasting success in the world of investing.   This is “ReSolve Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.   *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association ("NFA"). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.