Orion's The Weighing Machine

Investors often find themselves at a crossroads when deciding how to allocate their resources for optimal returns. But one of the timeless strategies that has captivated investors seeking sustainable growth and long-term success in finance and investment is value investing, a philosophy made famous by Benjamin Graham and later championed by his protégé Warren Buffett. Value investors, armed with a keen eye for bargain opportunities, endeavor to uncover the hidden gems amidst the market's ups and downs.In this episode, Rusty and Robyn talk with Brian Ferguson, Senior Portfolio Manager at Newton Investment Management Group. Brian has been with BNY Mellon companies for over 26 years, specifically for the U.S. Dynamic Large Cap Value Fund (BNY Mellon Dynamic Value Fund). He joined Newton in September 2021, following the integration of Mellon Investments Corporation's equity and multi-asset capabilities into the Newton Investment Management Group.With a value-based investment philosophy, Brian talks to Rusty and Robyn about value investing. He shares insights into how investors should allocate between value and growth and the future of active management. Brian also discusses other important value sectors, including energy and healthcare.Key Takeaways [03:30] - Brian's career background and role at Newton Investment Management Group. [04:26] - What distinguishes Newton Investment Management Group as a firm? [07:11] - What is it like to work with John Neff? [08:49] - How value investing has evolved over time. [12:28] - Brian's rule of thumb for allocating between growth and value investing. [14:00] - Brian's thoughts on active management. [17:48] - How the energy sector has changed over the years. [23:27] - How the financial sector plays offense and defense across the different sectors. [28:22] - The opportunities in the healthcare industry. [32:01] - Brian's thoughts on how AI impacts the financial industry. [35:05] - Brian's favorite investment idea. [41:15] - How Brian maintains his physical and mental energy to perform at a high level. [42:28] - The people Brian is grateful for professionally. [46:12] - Brian's recommendation for content. Quotes[09:22] - "Being a student of the marketplace and the markets, if you look at a hundred years of history, values outperform, on average, two out of three years. And that speaks to the notion that it does matter what you're paying for something, and it's easier to outperform low expectations than high expectations." ~ Brian Ferguson[13:47] - "The better way to allocate between value and growth investing is to get a great manager and team with a proven process and philosophy, do both styles, blend it together, and then periodically rebalance it." ~ Brian Ferguson[16:41] - "The dispersions of results and outlooks on the things that drive intrinsic value, namely cash flow and earnings, have never been wider. And in my 30-year career as an equity investor, I've never seen it as wide as it is. And that is music to the ear of active managers." ~ Brian FergusonLinks  Brian Ferguson on LinkedIn Newton Investment Management Group Doin' This by Luke Combs Wellington Management Vanguard Keith Howell J.P. Morgan Berkshire Hathaway The Lion Tracker's Guide to Life The Money Masters The New Money Masters Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2519-OPS-9/11/2023

The rise of insourced chief investment officers (ICIOs) poses a direct challenge to old-guard legacy providers. Equipped with contemporary insights, data-driven decision-making, and quantitative investment management solutions, ICIOs are transforming investment strategies and setting new heights in the area of financial growth and security.In this episode, Rusty and Robyn talk with Chris Shuba, Founder and CEO of Helios Quantitative Research. After spending time at Ameriprise Financial and as a senior quant analyst at Columbia Threadneedle, Chris focused on developing mathematical models that could help financial advisors mitigate the market's volatility. These models were met with interest by a broad range of clients, and within the year, financial advisors nationwide were accessing his algorithms. Believing that the majority of existing services available to financial advisors lack innovation, are too expensive, and enable commoditization in the wealth management industry, Chris talks to Rusty and Robyn about how he created his own service category, the insourced chief investment officer, and how this service can help financial advisors grow their firm. Key Takeaways [02:55] - A brief history of Chris' career. [04:46] - What led to the creation of Helios? [07:39] - What sets Helios apart from other asset management firms? [09:26] - The difference between an ICIO and an OCIO. [12:18] - How having an ICIO can help advisors grow their firm. [14:54] - Why advisors are attracted to model portfolios. [18:13] - Customized vs. personalized model portfolios. [21:42] - How Helios boosts customization. [25:08] - How Helios handles large amounts of data. [26:51] - Chris' outlook on interest rates. [29:13] - Chris' thoughts on the impact of AI in the financial industry. [32:11] - Chris's favorite investment idea. [33:22] - How Chris maintains his energy to perform at a high level. [34:19] - The people Chris is grateful for professionally. [36:13] - Chris' recommendations for content. [38:05] - Tips for fantasy football drafts. Quotes[16:16] - "Models will always have a flaw. If they're designed well, a model will always have an Achilles heel because it's going to have its sweet spot. But to have that, you have to have that part where it's designed to fail. And the beautiful part about a model is essentially what you're doing is picking what type of failure you're okay with." ~ Chris Shuba[22:00] - "A well-built, mathematically diverse portfolio can do very well in some of the most extreme environments." ~ Chris Shuba[26:03] - "There is a very definitive line between academia and the real world. And one of the big differences about Helios is that we do everything we can to live in the real world. That is where the rubber meets the road conversation between the advisor and their client and what they see on TV." ~ Chris ShubaLinks  Chris Shuba on LinkedIn Chris Shuba on Twitter Helios Quantitative Research Seven Nation Army Ameriprise Financial Columbia Threadneedle Investments Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2439-OPS-9/1/2023

In this discussion, Daniel Villalon, Principal and Global Co-Head of the Portfolio Solutions Group at AQR Capital Management, shares his unique journey from a vineyard to finance. He emphasizes the importance of diversification amid inflation and recession risks, warning against the vulnerabilities of traditional portfolios. Daniel also explores the implications of rising interest rates, the value of commodities, and the role of investor expectations. His insights highlight how to build resilient portfolios and navigate current market uncertainties effectively.

Portfolio construction is a crucial aspect of investment management, directly influencing the trajectory of one's financial endeavors. As the global economy is constantly in flux, the challenge for financial advisors lies in constructing portfolios that cope with the changing dynamics of the economic landscape while achieving clients' long-term goals.In this episode, Rusty and Robyn talk with Adam Hetts, Portfolio Manager and Global Head of Multi-Asset at Janus Henderson Investors. Before joining the firm in 2017, Adam held various roles at Goldman Sachs, including Vice President and Senior Portfolio Strategist, where he led efforts in the U.S. and the Asia Pacific regions. At Janus Henderson, Adam and his team of strategists serve as a resource to their clients, assisting them in deconstructing, analyzing, and reconstructing their portfolios to identify risks and achieve results aligned with their investors' long-term objectives.Leading a team that constructs multi-asset solutions for clients' complex investment objectives, Adam talks to Rusty and Robyn about portfolio construction strategy and market outlooks. He shares insights on the current market environment, investor sentiment, and the questions financial advisors are receiving from clients. Adam also provides an in-depth analysis of the 60/40 balanced investment portfolio, discussing the equity side, fixed income concerns, and the importance of diversification.Key Takeaways [02:57] - Adam's professional background and role at Janus Henderson. [05:24] - Key takeaways from portfolio construction and strategy team discussions. [07:22] - Janus Henderson's insights on the equity side of the market. [10:16] - Adam's outlook and recommendations on non-U.S. stocks. [12:49] - The most common concerns about fixed income. [15:53] - The philosophy Adam and his team apply when building model portfolios. [19:05] - Adam's thoughts on the impact of artificial intelligence in the financial industry. [20:15] - How Adam maintains his physical and mental energy to perform at a high level. [21:46] - Adam's recommendations for content. Quotes[05:58] - "What we've seen happening now is the environment and the sentiments have been improving. It's not so much the Fed pivot as the big obsession for our clients. It's the portfolio pivot from defense to offense and just how soon and how aggressive to be with that pivot." ~ Adam Hetts[06:49] - "The most common conversation for us on our equity consultations is digging into the nuance and balance between the historically overvalued large cap and the undervalued small and mid-cap pieces." ~ Adam Hetts[16:48] - "We know clients want low fees, so we're open architecture to bring in a bigger opportunity set, including blending in passive ETFs. We know clients want to stay in their comfort zone, so we're globally diversified in our models. The goal is to help clients stay invested in the long run." ~ Adam HettsLinks  Adam Hetts on LinkedIn Janus Henderson Investors Janus Henderson Portfolio Construction and Strategy Team Janus Henderson Global Multi-Asset Model Portfolios Janus Henderson Market GPS Investment Outlook Intro Article by Adam in Market GP Janus Henderson Balanced Portfolio Recipe Webinar Shake It Off by Taylor Swift Goldman Sachs Continental Drift by Russell Banks The Wager by David Grann The Psychology of Money by Morgan Housel Just Keep Buying Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2307-OPS-8/18/2023

As the advice model continues to evolve, harnessing the power of technology is not just a competitive edge but a necessity. However, amidst this technological revolution, financial advisory firms have to maintain sight of innovations' true purpose. The most successful firms skillfully strike a balance between cutting-edge innovation and the human touch, ensuring that technology enhances, rather than replaces, the art of conversation.In this episode, Rusty and Robyn talk with Charles Goldman, Executive Chairman of the Board at Orion. Charles is also a member of the Board of Directors of Genstar portfolio companies ACA Group, AmeriLife, Cerity Partners, Mercer Advisors, and Orion. He is chairman of FinTech Evolution Acquisition and an American Mountain Guides Association board member.Charles talks with Rusty and Robyn about the importance of technology in the financial advisory space, how the advice model is changing, and how to build great relationships with clients.Key Takeaways [03:02] - Charles’ career highlights and his most rewarding experience. [05:58] - Charles' early observations of Orion as Executive Chairman. [08:41] - The challenges for financial advisors in the coming years. [12:12] - How technology impacts the advisory model. [15:51] - The gaps in the advisory space that need to be filled. [17:32] - The most important factors when building and maintaining client relationships. [21:45] - The benefits of private equity in the financial industry. [24:50] - The best investment styles for investors. [28:31] - What the future of a full-service advisory firm looks like. [32:25] - Charles' advice to aspiring leaders in the financial services industry. [35:51] - Charles' favorite investing idea. [38:18] - How Charles maintains his physical and mental energy to perform at a high level. [40:51] - The people Charles is thankful for professionally. [43:22] - Charles’ recommendations for content. Quotes[04:37] - "When you're trying to get a leadership point across and build culture, it starts with the firm's mission. It needs to be something you can grab hold of, something you can understand." ~ Charles Goldman[05:45] - "The thing that grabs employees and excites clients is when you live by a mission where you put the client first." ~ Charles Goldman[20:47] - "When you ask questions about building trust and creating conversation, it really is the quality of the conversation and the quality of listening. It's asking the question that stems from your expertise and knowledge of the client and their situation. Those are the best and most trusting relationships." ~ Charles GoldmanLinks  Charles Goldman on LinkedIn Charles Goldman on Twitter Back in Black by AC/DC Cerity Partners AssetMark Charles Schwab Fidelity Investments Mercer AmeriLife Marketing Group Boston Consulting Group Genstar Capital Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2233-OPS-8/14/2023

Renowned for its expertise and commitment to client satisfaction, BlackRock has made significant strides in revolutionizing the financial industry through its Separately Managed Accounts (SMAs) offering. BlackRock places an emphasis on meeting the needs of its end clients, regardless of whether they are institutional giants or retail investors.In this episode, Rusty and Robyn talk with Chris Ryan, BlackRock's Senior Fixed Income Portfolio Manager. In his role, Chris primarily covers the southeast part of the U.S., delivering model-based and custom solutions in both the taxable and tax-exempt space for high-net-worth individuals, institutions, foundations, pensions, charitable organizations, and religious organizations, among others. He works closely with their New York-based corporate team to help filter out the most appropriate credits for their SMA clients while providing consistent updates to help drive decisions to buy, sell and hold positions. With nearly 13 years of experience at BlackRock and previous experience at Merrill Lynch, Chris talks with Rusty and Robyn about fixed income separately managed accounts (SMAs) and how they differ from bonds and ETFs. He also discusses the benefits of fixed income separately managed accounts, the current challenges of the bond market, and the opportunities of municipal bonds.Key Takeaways [02:32] - Chris's background and career in the financial industry. [03:37] - What a fixed income separately managed account (SMA) is and its benefits. [05:36] - What it's like to work as a fixed income SMA portfolio manager. [08:17] - What sets BlackRock apart and its secret sauce for success. [12:02] - BlackRock's views on the bond markets. [15:34] - What BlackRock's state-specific personalization in municipal bonds is all about.  [17:33] - BlackRock's offerings on Orion, including strategies, minimums, and fees. [19:39] - How Chris maintains his physical and mental energy to perform well. [20:16] - The mentors and colleagues Chris is grateful for. [21:06] - Chris' recommendations for content. Quotes[05:08] - "Separately Managed Accounts (SMAs) give the client the ability to personalize their holdings not only to their tax situation but also to their values preferences." ~ Chris Ryan[09:03] - "One factor that has set BlackRock apart is that it focuses on end clients' needs first and foremost, whether that be institutional or retail clients. BlackRock provides the client a better overall understanding of the risks within their investible universe." ~ Chris Ryan[11:03] - "Interactions that are built on trust and solid client service lead to a longer-lasting relationship." ~ Chris RyanLinks  Chris Ryan on LinkedIn BlackRock Back in Black by AC/DC Merrill Lynch Aladdin by BlackRock Ryan Nielsen The Bid Fixed Income in 15 Macro Musings with David Beckworth Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2146-OPS-8/4/2023

Time and again, investors are reminded of the turbulent nature of financial markets. Attempting to predict short-term market movements can lead to a myriad of pitfalls and missed opportunities. Wise investors recognize that true wealth creation lies in the ability to weather market downturns and emerge stronger on the other side. In this episode, Rusty Vanneman and Robyn Murray talk with Jim Cullen, Chairman and CEO at Schafer Cullen Capital Management. Jim founded the firm in 1983 and is responsible for overseeing Schafer Cullen Capital Management and has served as the CEO and Co-Portfolio Manager on all of the firm's strategies. Jim has also been responsible for overseeing the affiliated firm, Cullen Capital Management LLC, since its formation in 2000. His experience in the investment business spans over 60 years.A leading value manager for decades, Jim talks about how the markets have changed over the last 60 years. He also discusses long-term value investing and how it makes sense for investors, the importance of dividends and dividend growth, and why market timing is the root of all evil for most investors.Key Takeaways [03:06] - What the market looked like 60 years ago. [06:15] - How the 1970 bear market impacted Jim's investment philosophy. [11:20] - The inspiration behind Jim's book, “The Case for Long-Term Value Investing.” [15:06] - A look back at Schafer Cullen Capital Management's origins. [16:23] - Why Schafer Cullen Capital Management includes dividend growth in its value investing. [17:17] - How Jim tackles market timing with investors. [19:02] - Jim's approach to stock selection. [20:51] - What happens when the market is concentrated? [22:14] - What Jim has to say about financials. [23:59] - What Jim has to say to young people looking to invest in today's market. [25:23] - Jim's thoughts on how AI might affect the investment industry. [27:24] - Jim's favorite investment idea. [29:25] - The people Jim is thankful for professionally. [31:24] - Content recommendations from Jim. Quotes[10:00] - "Every five-year period has some tough periods, recessions, bear markets, and all the negative stuff. But the five-year time horizon bailed you out on all of them." ~ Jim Cullen[17:40] - "Market timing is the root of all evil for most investors. It's the killer of long-term performance." ~ Jim Cullen[18:04] - "Don't try to time the market because you make all your money when you come out of that recession. That's the biggest part of all the gains in the market over time." ~ Jim CullenLinks  Jim Cullen on LinkedIn Cullen Funds Good Vibrations by The Beach Boys Merrill Lynch Mid-Year Note the Danger Zone A Time for Value The Case for Long-Term Value Investing J.P. Morgan Jamie Dimon Jason Zweig Goodbye Mickey Mouse Connect with Us Meet Rusty Vanneman, Orion’s Chief Investment Officer Check Out All of Orion’s Podcasts Power Your Growth with Orion DisclosureAdvertisement supplied by Schaeffer Cullen Capital Management. Schaeffer Cullen Capital Management and OPS are not affiliated companies and the advertisement is not a recommendation or endorsement by Orion Portfolio Solutions, LLC for any of the services referenced or provided.2044-OPS-7/28/2023

The marketplace is no stranger to speculation and unpredictability, with investors often left to navigate the highs and lows of the financial rollercoaster. As more investors seek to balance risk and reward, defined outcome ETFs present an enticing solution that marries the quest for growth with the imperative for protection. In this episode, Rusty and Robyn talk with Bruce Bond, Co-Founder and CEO of Innovator ETFs. He also co-founded PowerShares Capital Management in 2003. In addition to being recognized for best-in-class products, Bruce has been named the ETF industry's most influential person on multiple occasions and has been quoted in financial publications around the world.Bruce talks to Rusty and Robyn about the growth and changes in the ETF industry, as well as the key drivers of growth and trends to watch. He also shares how Innovator ETFs differentiates itself from other investment management firms and what advice he gives to investors when selecting and evaluating ETFs for their portfolio.Key Takeaways [04:01] - How Bruce got started in the EFT industry. [05:24] - How the ETF industry has evolved over time. [07:11] - Innovator ETFs’ mission and approach to innovation [10:48] - How advisors use the Defined Outcome ETFs. [15:01] - A look at Innovator ETFs’ Premium Income Barrier ETFs. [18:23] - The anticipated launch of Defined Protected ETFs. [21:02] - Growth and obstacles in the ETF industry. [23:09] - How Innovator ETFs adapted to future ETF trends. [24:24] - What investors should consider when selecting ETFs for their portfolios. [26:02] - Bruce's thoughts on the impact of AI on the markets and industry. [28:22] - Bruce's favorite investment idea. [29:30] - How Bruce maintains his physical and mental energy to perform at his peak. [30:51] - The people Bruce is thankful for professionally. Quotes[11:39] - "A lot of guessing goes on in the marketplace, but no one has a good handle on it. So having a product that provides a buffer against those losses on the equity side and simultaneously gives you access to a significant portion of the upside has huge value." ~ Bruce Bond[20:12] - "The beauty of protected ETFs is they're so efficient. They will give you the maximum you can get from the options market on the upside over two years. It removes all the middlemen, all the banks, all the annuities, all the funds, and all these people that get their hands in the pot." ~ Bruce Bond[23:38] - "The defined outcome category is gaining a lot of traction. This controlled exposure to the marketplace is where we will see a lot of growth in the future." ~ Bruce BondLinks  Bruce Bond Innovator ETFs One Thing At A Time by Morgan Wallen The Blessing by Elevation Worship First Trust Nuveen Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1856-OPS-7/11/2023

In finance, understanding the intricate workings of the human mind can be just as important as comprehending the numbers and market trends. Furthermore, behavioral finance acknowledges the undeniable truth that humans are not always perfectly rational when managing their finances. Our minds are prone to biases, emotions, and irrational behaviors that can derail even the most intelligent and successful individuals. In this episode, Rusty and Robyn talk with Doug Lennick, CEO and Co-Founder of think2perform. Doug leverages his 40+ years of experience as a Fortune 100 executive, a seasoned small business owner, and an entrepreneur to help clients achieve optimal results. At think2perform, Doug leads a team that serves the needs of executives and their organizations. He helps clients improve their bottom-line results by enhancing revenue growth.Doug talks to Rusty and Robyn about behavioral finance and why people need to understand it for themselves and their businesses, how behavioral advice helps advisors and investors build and maintain strong relationships, and how to get started writing a book.Key Takeaways [04:52] - Why Doug built a career around behavioral finance. [07:07] - What think2perform is all about. [09:42] - How behavioral finance can help investors and advisors. [14:35] - What think2perform's Behavioral Finance Advice Program is about. [17:14] - What it takes to be a behavioral financial advisor. [21:10] - A list of Doug's published works. [24:51] - Doug's advice for improving interpersonal connections and creating meaningful relationships. [30:21] - How people can cultivate healthy relationships with money. [38:52] - Doug's advice to financial advisors who want to become authors. [41:44] - Doug's take on how artificial intelligence impacts financial advisors. [44:51] - One of Doug's favorite investment ideas. [46:01] - How Doug maintains his mental and physical health to perform at his best. [50:29] - The people Doug is grateful for professionally. [55:03] - Doug's recommendations for content. Quotes[09:18] - "We help people to understand that their mind has the authority to override the brain's desire to repeat behavior. We help smart people who are starting to do dumb things with their money go ahead and assess how smart they are, even in the presence of competing and difficult to deal with emotions." ~ Doug Lennick[10:07] - "Behavioral finance helps people make rational, smart, responsible, and values-based decisions with their money and their life in the presence of competing and difficult-to-deal-with emotions." ~ Doug Lennick[24:14] - "The common pursuit all humans have is that we all want to be happy with ourselves. We want to live a happy life. And by leveraging our financial intelligence, we create an intersection where our money, health, and happiness come together." ~ Doug LennickLinks  Doug Lennick on LinkedIn Doug Lennick on Twitter think2perform I Can See Clearly Now by Johnny Nash Start Me Up American Express Ameriprise Financial Richard Leider The Power of Purpose The Simple Genius (You) Financial Intelligence Moral Intelligence Moral Intelligence 2.0 How to Get What You Want and Remain True to Yourself Leveraging Your Financial Intelligence Don't Wait for Someone Else to Fix It One Thing from City Slickers Dr. Daniel Crosby Standard Deviation Podcast by Dr. Daniel Crosby The Obstacle Is The Way The Book On Stoicism That's Taking the NFL by Storm The Power of Full Engagement Chanhassen Dinner Theatres Built To Move Big Feelings: How to Be Okay When Things Are Not Okay Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1757-OPS-6/28/2023

Investing has become a delicate balance between opportunity and risk. The potential for substantial gains is undoubtedly enticing, but the inherent volatility and unpredictability can be unnerving. Furthermore, the emotional rollercoaster that accompanies market volatility is another challenge. In this episode, Rusty and Robyn talk with DeFred "Fritz" Folts. Fritz has over 40 years of experience in the investment management industry. He was one of the co-founders of 3EDGE Asset Management, serving as the Chief Investment Strategist and member of the Investment Committee. Before 3EDGE, Fritz was one of the first team members at Windward Investment Management, a pioneer in constructing globally diversified portfolios utilizing index Exchange Traded Funds (ETFs). As an ETF strategist, Fritz talks to Rusty and Robyn about multi-asset investing and how to do it well. He also speaks about managing investment risk and his market outlook for multiple asset classes.Key Takeaways [03:06] - The experience Fritz has in managing investments. [04:43] - 3EDGE Asset Management's investment approach and philosophy. [07:14] - How 3EDGE incorporates investor psychology into their model. [09:03] - How advisors use the 3EDGE strategies on behalf of their clients. [11:41] - What 3EDGE's tactical multi-asset approach looks like. [14:40] - Why 3EDGE focuses so much on managing investment risk. [17:01] - Differences between total return and ESG strategies. [19:55] - 3EDGE's market outlook for all asset classes, including crypto. [28:01] - Fritz's take on how artificial intelligence could impact investment management. [30:10] - Fritz's favorite investment idea. [31:44] - How Fritz remains physically and mentally healthy to perform well. [35:13] - The people for whom Fritz is professionally grateful. [36:52] - Fritz's recommendations for content. Quotes[05:54] - "Markets are not completely random. They're driven by the cause-and-effect relationships that impact equities, bonds, commodities, and currencies across the globe. And these relationships are interrelated." ~ DeFred "Fritz" Folts[06:37] - "There's more risk out there than people understand. So, our approach to managing that risk is to be tactical, meaning we make changes to the portfolio when our investment outlook changes and are always globally diversified." ~ DeFred "Fritz" Folts[15:40] - "It's really difficult to hang in there as an investor when you're watching your portfolio and your net worth decline. Having to live through that is hard." ~ DeFred "Fritz" FoltsLinks  DeFred "Fritz" Folts on LinkedIn Fritz Folts on Twitter 3EDGE Asset Management 3EDGE Asset Management on YouTube 3EDGE Orion Spotlight Paper Fritz Folts’ Recommended Reads Your Saving Grace by Steve Miller Band Stephen Cucchiaro Windhaven Investment Management Charles Schwab The Origin of Wealth by Eric Beinhocker The Fed Unbound by Lev Menand The Price of Time: The Real Story of Interest Meditations by Marcus Aurelius The Obstacle Is the Way by Ryan Holiday The Artist Behind Fritz’s Cow Painting Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1640-OPS-6/15/2023