Advisor Success Series

In this episode, we catch up with Larry McDonald, former Lehman Brothers bond trader and current proprietor of the Bear Traps Report. We discuss the shifting market landscape that could see a handoff from the government to the private sector as the world recovers from the coronavirus epidemic. A bigger debate concerns whether the world's infrastructure has the capacity to accommodate a post-COVID recovery, especially meeting near-term energy demands in the face of declining output. And as payment moratoriums roll-off by year-end, will financial pressures across commercial real estate weigh down the broader credit markets?

In this episode, we dive into PIMCO's newly released Secular Outlook and why we should expect a lower for longer scenario as the world tries to move past the COVID-19 pandemic. We discuss implications around 1) China's continuing emergence as a global economic growth driver, 2) continued electoral pressures stemming from populism, 3) rising climate-related risks with respect to corporate governance and capital raising, and 4) technological disruptions. We also discuss opportunities and challenges for investing in today's fixed income environment and why the pressures faced by the commercial real estate sector do not present the same systemic risks to the financial system versus what happened with subprime mortgages during the 2008 financial crisis.

Since the mid-March/April coronavirus pandemic market meltdown, broad basket commodities (precious and industrial metals, energy, agriculture) have enjoyed a strong recovery alongside other reflationary asset beneficiaries like equities. Robert (Bob) Minter, Head of Investment Strategy at Aberdeen Standard Investments, shares his outlook on how the second act for commodities plays as we face some near-term headwinds such as U.S. government impasse over further pandemic spending and a renewed upswing of COVID-19 positive cases.

In this episode, 3D discusses late-stage venture financing opportunities with Christian Munafo, CIO of SP Investments Management, the asset management arm of SharesPost. In this episode, we discuss why retail investors should consider late-stage venture financing as part of an overall equity growth strategy, how they can access private companies through retail investment vehicles like interval funds and SPACs, and the investment opportunities presented in SP's current portfolio of companies focused on innovation and disruption across large addressable markets. Disclaimer: Some of the names discussed are not held by the Fund, please consult the Fund's web page for a complete list of current Fund holdings. https://sharespost.com/marketplace/individual-investors/buying-private-assets/sharespost-100-fund/

We have the pleasure of catching up with Bob DeRochie, Fixed Income Specialist – Client Portfolio Manager at First Trust Advisors, to discuss the state of the fixed income markets following the significant recovery in credit risk during Q2. Although much of the market is trading at rich levels, Bob still sees relative value opportunities across hybrid fixed income such as high yield, convertibles, and preferred equities. But credit selection will be paramount as much of the 'liquidity' issues have been addressed by aggressive fiscal and monetary responses to the coronavirus pandemic.

In this episode, we had the pleasure of catching up with ETF Industry veteran Chris Hemstead, now Director of Institutional Business Development at IndexIQ, part of New York Life Investment Company. Chris reflects on last March's market meltdown and how ETFs performed during this tumultuous period. He also shares his optimism about the growth of the ETF market and the potential for innovative product development such as actively-managed ETFs. Finally, Chris explains how active management can pick up nuances overlooked by pure passive-based approaches to portfolio construction, such as in the area of ESG (Sustainability) Investing.

In this episode, Richard Taormina, Head of the Tax Aware Strategies team at JPMorgan Asset Management, will discuss the state of the U.S. municipal bond market during and after the mid-March capital markets meltdown and why much of the market has not fully recovered from the first quarter sell-off. The muni market is not fully out of the woods but is also presenting compelling opportunities.

In this episode, Matt Shute is joined by Andy McFetridge, National Sales Manager at John Hancock Investment Management. Andy provides insights into the advisory world and how advisors can efficiently and effectively communicate their value propositions to clients. To learn more about how John Hancock Investment Management and how they are helping advisors go to: https://www.jhinvestments.com/

3D sits down with Steve Sachs, Managing Director and Head of ETF Capital Markets at Goldman Sachs. Steve shares his views on why he believes ETF capital markets largely functioned the way they were designed to do despite the significant price and liquidity dislocations during the depths of the March bear market. We also debate about the Federal Reserve's role in providing emergency lending and liquidity support and whether the Fed will be able to extricate themselves without causing major disruptions.

We had the pleasure of speaking with WisdomTree Investment's Kevin Flanagan, Head of Fixed Income Strategy, and Michael Barrer, Associate Direct in Capital Markets. In this special episode, we discuss the disruptions seen across fixed income market pricing and liquidity – one of several fallouts from the Coronavirus pandemic. In addition, we discuss the longer-term implications of the Federal Reserve and U.S. Treasury Department's emergency initiatives to unclog the financial plumbing and making sure businesses do not get cut off from lending.