Enterprising Investor

In this episode of Guiding Assets, host Mike Wallberg, CFA, speaks with Rhodri Preece, CFA, and Ryan Munson from the CFA Institute Research & Policy Center about their report, Future State of the Investment Industry. The report explores four potential scenarios for the industry and how it may be shaped in the next five to ten years. They discuss the goals of the report and the research process involved. This episode provides valuable insights into the major trends and disruptors affecting the investment industry.   Read the full report: https://cfainst.is/3PVMjm1

Javier Gonzalez Lastra, CFA, portfolio manager at Tema ETFs, discusses the investment potential of the luxury goods sector. He explains the reasons behind the launch of a luxury ETF, including demographic trends and the pricing power of luxury goods. The podcast also explores the factors contributing to the growth of the luxury industry and the resilience and diversification within the industry. They discuss the healthier balance sheets of luxury goods companies and key metrics for long-term investment. The guest also shares their experience and advice for newcomers in the investment industry.

In this episode of Guiding Assets, Mike Wallberg, CFA, interviews the head of the global investment team at Orbis Investments, Simon Skinner, CFA. They discuss Orbis' unique approach to asset management, including refunding of performance fees in the case of underperformance. They also delve into Orbis' investment insights team and their use of data to make better investment decisions. Tune in to learn more about Orbis' progressive strategies in the investment industry.

In this episode of Guiding Assets, host Mike Wallberg is joined by serial entrepreneur and angel investor, Mac Lackey. With a background in starting, scaling, and selling multiple companies, Mac shares his secrets to success as an entrepreneur and investor. From his passion for soccer to his various ventures in the sports industry, Mac discusses his journey and the lessons he has learned along the way. Tune in to gain insights on achieving success in the business world.

Ever wondered how your confidence level influences your decision making and how understanding this concept could be a game changer in the world of finance? Tune into our engaging conversation with Peter Atwater, author of  the new book The Confidence Map: Charting a Path from Chaos to Clarity. You probably know Peter as the thought-leader who coined the term 'K-shaped recovery.’ In this interview we navigate the intriguing facets of confidence mapping, from the two critical axes of certainty and control to the four quadrants — the Comfort Zone, the Stress Center, the Passenger Seat, and the Launch Pad — each providing unique insights into our behaviors and responses.   As our dialogue deepens, we explore how personal vulnerabilities can act as catalysts in decision making, shifting our focus to immediate concerns and diminishing strategic thinking. Peter introduces us to the concept of the 'five Fs,' a framework delineating our reactions to stress and providing strategies to evade the negative reinforcement loop of catastrophizing. This discussion serves as a critical reminder of our need to manage vulnerability and anxiety to make more informed decisions.   Our discussion then takes a leap into the world of finance, revealing how these concepts can significantly impact investment strategies. We dissect the five reactions to intense vulnerability — fight, flight, freeze, follow, and nihilism — and their crucial role in risk assessment and decision-making within the investment landscape. To cap it off, Peter shares invaluable insights from his own career journey, underlining the importance of understanding the crowd and its sentiment. So, join us for this insightful episode where we delve into the human psyche, its impact on our decision making, and the role it plays in the world of finance.

Discover the crucial role of governance and fiduciary thinking in the blockchain and crypto space as we navigate the recent cryptocurrency failures of FTX and Terra Luna with Eelco Fiole, co-founder and managing partner of Alpha Governance Partners, and guest host, Andres Vinelli, chief economist at CFA Institute. Uncover how the lack of oversight and risk management contributed to these disasters and gain valuable insights on the importance of establishing trust with investors through proper governance. Join our riveting conversation as we explore the evolving landscape of the crypto industry, touching on the impact of energy consumption and ESG considerations on the success of new protocols. Learn about the different consensus mechanisms used in cryptocurrency transactions and their implications on energy use, as well as the potential of carbon taxes on the future of crypto. Don't miss this essential episode for anyone seeking to keep pace with the rapidly changing world of cryptocurrency governance and investment.

Discover how to unlock the power of alternative data in your investment strategy with Kai Wu, founder and chief investment officer of Sparkline Capital, as he speaks with Paul Andrews, head of Research, Advocacy, and Standards at CFA Institute. Listen in as we explore the use of modern technology, data, and machine learning to enhance traditional investment approaches. Kai shares how Sparkline Capital applies these innovative techniques to measure intrinsic value, especially in the realm of intangible assets. Learn how alternative data sets and tools like natural language processing and AI can revolutionize your approach to value investing.   In the second part of our discussion, we focus on the potential of AI in risk management and investing. We explore how natural language processing can be used to quantify intangible assets and measure risk. Kai shares insights from Sparkline's experiences in using alternative data to make more informed investment decisions. We also discuss the significance of creating transparent and traceable models and the growing role of data vendors in the investment landscape. Don't miss out on this engaging conversation packed with actionable insights for today's tech-savvy investor.     --------- EPISODE CHAPTERS ---------   (0:00:06) - Using Alternative Data in Value Investing (0:12:14) - AI in Investing and Risk Management (0:17:20) - The Importance of Unstructured Information

In this episode of Guiding Assets, Paul Andrews, head of Research, Advocacy, and Standards at CFA Institute, interviews BentallGreenOak co-CEO Sonny Kalsi. They discuss the outlook for office real estate and regional banks, as well as the best places to invest in this environment. They also touch on topics such as diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) issues. BentallGreenOak is one of the largest real estate investment firms in North America and Sonny shares his insights on the industry. Overall, this episode provides valuable insights for investors looking to navigate the current economic landscape.   [00:02:29] Regional banks' real estate lending. [00:03:18] Private market lenders. [00:07:31] Systemic Risk in Banking. [00:12:44] Real estate and carbon emissions.   [00:16:09] Systemic risk and transition.

Join us for a celebratory trip down memory lane as we mark the 500th episode of Guiding Assets! This little show we started all the way back in 2007 has now survived a dozen hosts, two financial crises, and a pandemic. We will look back at the history of the show and welcome back some familiar voices to share their favorite clips from memorable episodes.  A huge thank you to all the listeners who have been with us for all these years. And to everyone who has contributed their talents to make this show happen. Happy 500 everyone!   --------- EPISODE CHAPTERS --------- (0:00:13) - Celebrating 500 Episodes of Guiding Assets (6 Minutes) We take a trip down memory lane to celebrate our 500th episode. We hear from some familiar voices as we trace back to the origin of the show in 2007. We get a glimpse of our early days of podcasting, discussing the challenges of creating episode content from one of our original hosts, Rob Gowen, CFA.  (0:06:43) - Mike Walberg, CFA (6 Minutes) Mike shares some thoughts on the show and his favorite episodes.  (0:12:59) -  Lauren Foster (5 Minutes) Host Lauren Foster also stops by to catch up and share some thoughts. (0:18:22) - Closing(1 Minutes) We close out with Mitch thanking all the people who have contributed to the show over the years.  ---Links to full episodes of highlight clips------ William N. Goetzmann: Finance and Human Progress - Two Sides of the Same Coin https://bcove.video/3n5p8nP John Bogle: Reflections on 40+ Years in the Finance Industry https://bcove.video/3Wt7jlv Peter Zeihan: The New World (Dis) Order https://bcove.video/421iKlQ Jan Van Eck: History and Investing - Gold, ETFs, and Alexander Hamilton https://bcove.video/2DO8hVl

In this fascinating episode, Andres Vinelli, chief economist at CFA Institute, sits down with Marko Papic, partner and chief strategist at Clocktower Group, to explore the geopolitical implications of a multi-polar world. Listen in as we discuss the role of the US and emerging markets, and provide tips for applying a geopolitical strategy toolkit to investing. We also forecast the resolution of the debt ceiling and analyze why a professional investor should care about geopolitics. Get ready to dive into the idea of a multi-polar world being a discordant one, and how this can impact investment profiles in different regions or sectors in the economy. Join us as we continue the conversation by examining strategies emerging market economies can use to benefit from engaging with both the US and China. We'll also discuss how investors can use material constraints to assess political paths of least resistance. Don't miss our analysis on the irony of China having withdrawn their efforts to finance infrastructure projects around the world, and the efforts of the US to counter the Belt and Road Initiative. This episode is packed with insights on investing in emerging markets and commodities in a multi-polar world — you don't want to miss it! --------- EPISODE CHAPTERS --------- (0:00:13) - Geopolitics and Investing (10 Minutes) Marko Papic, partner and chief strategist at Clock Tower Group, and I explore the geopolitical implications of a multi-polar world. We examine the role of the US and emerging markets, and provide tips for applying a geopolitical strategy toolkit to investing. We forecast the resolution of the debt ceiling and discuss why a professional investor should care about geopolitics. We analyze the idea of a multi-polar world being a discordant one, and how this can impact investment profiles in different regions or sectors in the economy. (0:10:40) - Assessing Geopolitics for Asset Allocation (13 Minutes) We explore strategies emerging market economies can use to benefit from engaging with both the US and China, and how investors can use material constraints to assess political paths of least resistance. We also discuss the irony of China having withdrawn their efforts to finance infrastructure projects around the world, and the efforts of the US to counter the Belt and Road Initiative. (0:23:23) - Investing in Emerging Markets and Commodities (2 Minutes) Marko Papic and I discussed the global investment landscape in a multi-polar world. We looked at how countries like Spain, America, Brazil, Netherlands, and Japan are increasing their CAPX spending, and how this could create a new CAPX-driven cycle, even without a single country to replace China. We examined the impact of this cycle on the US dollar and emerging markets, as well as the strategies investors can use to benefit from this shift in the global economy.