Excess Returns

In this engaging conversation, Andrew Cohen, a former Goldman Sachs trader turned finance professor, shares his harrowing experience of working at Madoff’s firm and being caught in the largest Ponzi scheme in history. He discusses the intense trading culture and the advanced technology of the era, as well as his interactions with Madoff's sons. Andrew reflects on the trauma of losing everything and the journey to rebuild his life in academia, offering valuable lessons on risk management and the importance of ethics in finance.

Richard Bernstein, CEO and Chief Investment Officer of Richard Bernstein Advisors, shares his insights on today's economic challenges. He discusses the alarming narrowness of recent markets, dubbing it the most constricted since the Great Depression. Bernstein highlights the negative consumer impact of tariffs and argues for a shift towards value investing. He expresses skepticism about cryptocurrencies and critiques the limitations of index funds. Additionally, he emphasizes gold's role as a hedge against uncertainty and advises sticking to fundamentals for long-term wealth.

Jim Paulsen, Chief Investment Strategist at Paulsen Perspectives, shares his decades of expertise on navigating turbulent markets. He discusses how tariffs may not be as inflationary as believed and suggests a weaker dollar could enhance trade competitiveness. Paulsen critiques Federal Reserve policies for their inaction amid deflation risks and emphasizes the importance of emotional discipline for investors. He highlights the resilience of the private sector and offers practical investment strategies, focusing on long-term thinking amidst current market volatility.

Join investment expert Chris Mayer, author of '100 Baggers,' and co-host Bogumil Baranowski as they uncover the secrets to finding future 100-bagger stocks. They dive into the role of AI in investment opportunities and the critical mindset for thriving amidst market volatility. Explore the merits of concentrated investing, the influence of CEOs on company performance, and timeless principles that emphasize patience and a long-term approach. This conversation is packed with valuable insights for both seasoned investors and newcomers.

Rick Ferri, a champion of low-cost, evidence-based investing, shares his expertise on navigating market volatility. He emphasizes the power of simplicity in investing and the importance of maintaining a steady asset allocation. Ferri debunks the myth of the 'dead' 60/40 portfolio and highlights the significance of personal inflation rates. He also discusses the complexities of direct indexing, the challenges of active management, and the benefits of international diversification. This conversation offers essential strategies for both novice and seasoned investors.

Andy Constan, founder of Damped Spring Advisors, shares insights on the U.S. economy's precarious path. He introduces his 'Island Framework,' showcasing the shift from 'Higher for Longer Island' to 'Recession Island.' Andy discusses the influence of Trump and Powell's policies on market dynamics, emphasizing why bonds may outperform stocks now. He also delves into the implications of tariffs and national debt, as well as long-term inflation drivers like demographics and deglobalization's impact—offering a thorough analysis for investors navigating today's volatile landscape.

Cullen Roche, a renowned financial expert from Discipline Funds, shares his insights on the economy and markets. He challenges the idea of a soft economic landing, emphasizing the complexities involved. Cullen dives into the effects of tariffs as corporate taxes and their inflationary potential. He assesses the national debt's risks while addressing government spending implications. Furthermore, he critiques the bond market's sophistication and discusses how AI technologies are reshaping productivity within corporations.

Lindsey Bell, Chief Market Strategist at Clearnomics, and Shannon Saccocia, Chief Investment Officer at Neuberger Berman, discuss navigating market volatility and economic uncertainties. They analyze the impact of tariffs on business decisions and economic growth, highlighting consumer resilience amid evolving spending patterns. Predictions for GDP growth are examined, alongside the Federal Reserve's balancing act between inflation and growth. They also explore opportunities beyond tech stocks and emphasize the importance of international investments for broader portfolio stability.

Barry Ritholtz, author of "How Not to Invest," dives into the psychology behind money and investing. He reveals that money should be viewed as a tool for personal freedom, not just as wealth. Childhood experiences heavily shape our money attitudes and behaviors. Ritholtz discusses the impact of market crashes across different life stages and warns against misinformation from social media. He advocates for humility in financial decision-making and highlights the importance of diversifying investments to avoid common pitfalls.

Mike Green, an investment strategist known for his insights on market dynamics and economic trends, joins to unravel the complexities of today’s financial landscape. He discusses the outdated nature of traditional economic indicators in light of the gig economy. Mike explains how the Fed's interest rate hikes benefitted the wealthy while highlighting the dim realities masked by a strong S&P 500. He also draws parallels between current political and economic conditions and historical transformations, challenging listeners to reconsider their views on markets, inflation, and geopolitics.