Enterprising Investor

Dan Boston, Lead Manager of Polar Capital’s International Small Company Fund (PCSCX), shares his perspective on why international equities may be poised for a resurgence. The conversation unfolds amid sharp market volatility following President Trump’s announcement of sweeping new tariffs. With global markets down significantly, Dan and Mike explore the broader implications for asset classes including U.S. treasuries, oil, and international stocks. Tune in for a timely discussion on where global opportunities may lie in today’s unsettled investment landscape. This podcast is sponsored by Fintool. Fintool is a comprehensive suite of AI-powered tools designed for modern fundamental research. Check them out at https://fintool.com/

Renowned economist and former Federal Reserve advisor Danielle DiMartino Booth joins host Mike Wallberg, CFA, for a hard-hitting conversation about the real state of the U.S. economy. From the under-the-radar signs of a recession to the shifting credit landscape, Danielle unpacks why traditional metrics may be missing the mark—and what investors should really be watching. The conversation digs into retail bankruptcies, private credit vulnerabilities, and how the gig economy is quietly reshaping the labor market. Plus, Danielle shares timely insights on inflation, student debt, reshoring, and what the data says about where we're headed next. Whether you're a seasoned investor or just trying to make sense of today's headlines, this is a can't-miss episode packed with sharp analysis and grounded economic perspective. This podcast is sponsored by Fintool. Fintool is a comprehensive suite of AI-powered tools designed for modern fundamental research. Check them out at https://fintool.com/

Geopolitical strategist and bestselling author Peter Zeihan returns for a deep dive into the shifting global order. He and host Mike Wallberg, CFA, explore the evolving role of the US in international trade, the economic impact of demographic shifts, and how America's political landscape is reshaping its strategy on the world stage. Peter unpacks the forces driving today’s geopolitical and economic upheaval, offering insights on what the future holds for investors, businesses, and nations alike. Be sure to catch both Peter and Mike at CFA Institute LIVE 2025 in Chicago this May! This podcast is sponsored by Fintool. Fintool is a comprehensive suite of AI-powered tools designed for modern fundamental research. Check them out at https://fintool.com/

Join us for a special crossover episode of Enterprising Investor, where host Mike Wallberg, CFA, sits down with The Long Term Investor podcast’s Peter Lazaroff, CFA, for a lively and thought-provoking conversation. Together, they dive into the key influences that have shaped their investing philosophies and personal worldviews, sharing insights gleaned from their experiences with a wide range of guests. This episode is packed with actionable takeaways as they explore the powerful intersection of investment strategies and personal growth. Tune in now for this unique podcast crossover, blending expertise, experience, and fresh perspectives in one compelling discussion. And if you enjoy this episode, you won’t want to miss Mike and Peter at CFA Institute LIVE 2025 in Chicago this May!   This episode is sponsored by Fintool. Check them out at https://fintool.com/

Senior Affiliate Researcher at CFA Institute, Cheryll-Ann Wilson, CFA, discusses the recently published CFA Institute Research & Policy Center report, “Creating Value from Big Data in the Investment Management Process: A Workflow Analysis.” Cheryll-Ann shares insights from her research, which involved a comprehensive survey and interviews with investment professionals worldwide. The conversation explores the use of AI and big data technologies in the finance sector, highlighting the challenges and opportunities that practitioners, regulators, and executives face in adopting these innovations. Tune in to gain a deeper understanding of how technology is reshaping the investment management profession and what it means for your own technological journey.   Visit https://cfainst.is/4gvKRke to read the report.

In this episode, Mike welcomes Olivier Fines, CFA, Head of Advocacy and Capital Markets Policy Research for EMEA at CFA Institute, and Mark Higgins, CFA, author of "Investing in U.S. Financial History." The discussion centers around the findings of a recent CFA Institute Research and Policy Center report titled "The Dollar's Exorbitant Privilege," which Olivier co-authored. Olivier shared insights from the survey report, and Mark provided a historical perspective on reserve currencies and events that have triggered shifts away from dominant currencies in the past. This engaging conversation provides valuable insights into the complexities of US debt, the role of the dollar, and the historical context that shapes our current financial system.

Mike Wallberg, CFA, welcomes Amanda Voegeli, CFA, President and Managing Partner of Southlea Group, to discuss the unique landscape of Canadian public sector pension plans. The conversation dives into the competitive challenges these plans face in attracting and retaining talent compared to private finance giants such as Blackstone and Goldman Sachs. Amanda also highlights findings from a recent study by Southlea Group that sheds light on compensation strategies and talent retention within these massive public entities. Tune in for valuable perspectives on the intersection of pension management and human capital in Canada.

Rich Nuzum, Executive Director of Investments and Global Chief Investment Strategist at Mercer, dives into the 2024 Global Pension Index, examining 48 retirement systems worldwide. He highlights the pressing need for pension reform due to inflation and demographic shifts, contrasting successful models like Australia’s individual accounts with traditional systems. Nuzum elaborates on the rise of pooled employer plans in the U.S. and the potential of AI in enhancing retirement planning, emphasizing the importance of intelligent investment strategies to boost pension outcomes.

Clare Flynn Levy, Founder and CEO of Essentia Analytics, shares her insights on the behavioral alpha score, a groundbreaking metric for assessing investor decision-making skills. She emphasizes the decline of traditional alpha generation methods and the importance of understanding one's decision-making processes. Clare delves into how emotional biases, such as loss aversion, affect investment choices and the need for structured evaluation over varying timeframes. She also discusses the evolution of fund selection metrics and the growing importance of transparency in investment management.

Stephen Foerster, CFA, discusses his new book, "Trailblazers Heroes and Crooks: Stories to Make You a Smarter Investor."  In the book, Professor Foerster shares intriguing stories that illustrate valuable lessons for investors, drawing from diverse topics such as professional sports, fraud cases, and even wildlife encounters. The conversation kicks off with a fascinating tale involving Warren Buffett's early investment in the 1960s, featuring the notorious figure Tino DeAngelis and an anonymous tipster known as The Voice. Dr. Foerster emphasizes the importance of learning from history beyond just financial metrics, encouraging investors to consider the broader context of their decisions. Tune in for a rich discussion about the lessons that can be gleaned from both triumphs and missteps in the investment world.