Jeff Schultze, head of economic and market strategy at ClearBridge Investments, discusses the possibility of a recession and the current state of the economy. He shares insights on recession risk indicators, the consumer's financial health, the banking system, and the Federal Reserve's ability to respond. WEALTHTRACK Episode 2023, published on December 1, 2023 More Info: https://wealthtrack.com/strategist-jeff-schulze-explains-why-the-slowing-economy-can-coexist-with-a-rallying-stock-market/ ClearBridge’s Anatomy of a Recession Dashboard: https://www.clearbridgeinvestments.com.au/perspectives/anatomy-of-a-recession/

Two leading municipal bond managers, Duane McAllister and Lyle Fitterer, who oversee Baird’s award-winning suite of municipal bond funds, including its 5-star, Silver-rated Baird Core Intermediate Municipal Bond Fund, present a compelling case for muni bonds. WEALTHTRACK Episode 2022, published on November 23, 2023 More Info: https://wealthtrack.com/the-highest-yields-in-nearly-20-years-make-a-compelling-case-for-municipal-bonds/

Part 2 of 2 Financial thought leader and historian James Grant is marking the 40th anniversary of his influential Grant’s Interest Rate Observer, a twice-monthly, self-described “independent, value-oriented and contrary-minded journal of the financial markets.” Grant shares his insights on a wide range of financial topics, including booms and busts, corporate finance, inflation, and the evolution of central banking. Grant also discusses his prescient analyses of the 2007-2009 credit crisis and offers warnings about the perils of cryptocurrencies and low-interest rates. He also unveils the one trait shared by successful investors, providing valuable insights for navigating the ever-changing financial landscape. WEALTHTRACK episode 2021 was originally broadcast on November 17, 2023, More Info: https://wealthtrack.com/financial-thought-leader-james-grant-shares-four-decades-of-investment-wisdom-and-insights/ Grant’s Interest Rate Observer: https://www.grantspub.com/ Bookshelf: The Forgotten Depression: 1921: The Crash That Cured Itself https://amzn.to/3QTCsh9 Money of the Mind: How the 1980s Got That Way https://amzn.to/47tIeev The Trouble With Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings https://amzn.to/3ugSwjR Bagehot: The Life and Times of the Greatest Victorian https://amzn.to/47cX49S Inside the Yield Book: The Classic That Created the Science of Bond Analysis https://amzn.to/47lO3KY A History of Interest Rates, Fourth Edition https://amzn.to/3FR38J1

Part 1 of 2 James Grant, Founder and Editor of Grant's Interest Rate Observer, joins us to discuss the history of bond market cycles and why the dramatic rise in interest rates that began in March of last year might have ushered in a prolonged bear market in bonds. Grant argues that bond yields have trended in generation-length periods, with each cycle lasting at least 20 years. He believes that the bull market in bonds that began in the early 1980s has now come to an end, and that we are now embarking on a long-term period of rising interest rates. Grant's perspective is important because he has been warning of a bond bear market for many years. He has argued that the central banks' aggressive monetary stimulus policies have created a bubble in the bond market and that this bubble is now bursting. WEALTHTRACK episode 2020 originally broadcast on November 10, 2023 More info:https://wealthtrack.com/financial-thought-leader-james-grant-on-the-investment-ramifications-of-the-new-era-of-higher-interest-rates/ Bookshelf: The Forgotten Depression: 1921: The Crash That Cured Itself https://amzn.to/3QTCsh9 Money of the Mind: How the 1980s Got That Way https://amzn.to/47tIeev The Trouble With Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings https://amzn.to/3ugSwjR Bagehot: The Life and Times of the Greatest Victorian https://amzn.to/47cX49S Inside the Yield Book: The Classic That Created the Science of Bond Analysis https://amzn.to/47lO3KY A History of Interest Rates, Fourth Edition https://amzn.to/3FR38J1

Bruce Berkowitz is the founder and CEO of Fairholme Capital Management and a legendary value investor. In this exclusive interview, he talks about his deep value, contrarian approach, his current strategy, and the lessons he's learned over the years. Berkowitz's Fairholme Fund was once a top performer, returning better than 13% annualized returns in its first decade. But it has since lagged the market and become extremely volatile. Today, 82% of the fund is concentrated in one stock: The St. Joe Company, a Florida real estate developer and manager. Berkowitz reveals the highs and lows of his career and shares his insights on value investing, contrarian thinking, and the future of the markets. WEALTHTRACK #2019 originally broadcast on November 03, 2023 More info: https://wealthtrack.com/fairholme-funds-bruce-berkowitz-deep-value-contrarian-approach-thats-still-beating-the-market/ Bookshelf: Security Analysis: Principles and Techniquehttps://amzn.to/3sax7bH

In a world where stocks have been the go-to asset class for income and returns, bonds are making a comeback. That's the view of Mary Ellen Stanek, Co-Chief Investment Officer of Baird Advisors and President of the Baird Funds, who says that the Federal Reserve's aggressive rate hikes have made bonds more attractive to investors. Stanek argues that the rapid rise in interest rates has created opportunities in the fixed-income market, as bond yields have increased to their highest levels in years. This means that investors can now lock in higher yields for their money, which can provide a valuable source of income and diversification in a volatile market. In this interview, Stanek explains why she is convinced that bonds are back and why investors should consider adding them to their portfolios. She also discusses her investment strategy and how she selects bonds for her clients. WEALTHTRACK episode 2018, broadcast on October 27, 2023 Learn More: https://wealthtrack.com/star-bond-fund-manager-mary-ellen-stanek-on-the-compelling-case-for-bonds-even-over-stocks/

The political, demographic, and policy headwinds causing China’s economy to slow and possibly unravel with serious repercussions for the world’s economies and markets. WEALTHTRACK Episode 2016, published on October 12, 2023

Part 2 of 2 Our rare interview with legendary investor Steven Romick, Co-Portfolio Manager of the FPA Crescent Fund which he founded 30 years ago. Morningstar gives the gold-rated fund high marks for its focus on capital preservation and strong stewardship. Since 1993, Crescent has generated equity-like returns with less risk than the overall market. Its nearly 10% annualized returns match the S&P 500 but with significantly less decline during downturns and faster recovery. Earlier this year, Romick delivered the keynote at Morningstar's investment conference, reflecting on his 30 years of successful investing across multiple cycles. We asked Romick to share insights and lessons learned navigating major crises like the tech bubble, financial crisis, COVID crash, and 2022's meltdown. Interestingly, he believes Crescent has survived by "first considering what can go wrong." Hear Romick's wisdom on defensive investing, managing risk, contrarian thinking, and preparing for an uncertain future. A rare chance to learn from a legendary investor. WEALTHTRACK Episode 2012 broadcast on September 15, 2023 More Info: https://wealthtrack.com/fpa-crescent-funds-steven-romick-shares-30-years-of-investment-lessons/ Bookshelf: Security Analysis, Seventh Edition: Principles and Technique https://amzn.to/3szbiSH

Is the 60/40 Portfolio Is Obsolete? The traditional 60/40 portfolio of 60% stocks and 40% bonds has been a staple of investment advice for decades. But in 2022, it failed to deliver the goods, declining about 16%. Mark Cortazzo says that the rapid rise in interest rates has caused a "massive change" in fixed-income returns. This means that traditional safe assets are back, and it's time to reset portfolios. Cortazzo is a Senior Vice President and Financial Advisor with the Wealth Enhancement Group. He has over 30 years of experience in the financial industry and has been named a Barron's Top Advisor for thirteen years. Cortazzo discusses the massive reset in returns and what it means for investors. He also provides tips on how to realign your portfolio for the new environment. WEALTHTRACK episode 2011 broadcast on September 8, 2023 More Info: https://wealthtrack.com/rising-interest-rates-mean-massive-changes-in-fixed-income-returns-traditional-safe-assets-are-back/ Bookshelf Your Future Self: How to Make Tomorrow Better Today : https://amzn.to/3P2MI4o The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio: https://amzn.to/3r2osYf

Discover the state of the municipal bond market post-2022 interest rate surge! Munis had their worst year since 1981, with a -8.5% return. Yields doubled from 1.03% to 2.63%, causing record outflows of $122 billion. Join us with muni bond expert Robert DiMella, Co-Head of MacKay Municipal Managers, as he shares insights on market recovery and tax-free opportunities. What are the opportunities and risks in the tax-free market now? WEALTHTRACK episode 2010 broadcast on September 01, 2023 More Info: https://wealthtrack.com/veteran-municipal-bond-manager-robert-dimella-on-the-opportunities-in-the-muni-market-after-2022s-big-sell-off/