
Lead-Lag Live
Welcome to the Lead-Lag Live podcast, where we bring you live unscripted conversations with thought leaders in the world of finance, economics, and investing. Hosted through X Spaces by Michael A. Gayed, CFA, Publisher of The Lead-Lag Report (@leadlagreport), each episode dives deep into the minds of industry experts to discuss current market trends, investment strategies, and the global economic landscape.In this exciting series, you'll have the rare opportunity to join Michael A. Gayed as he connects with prominent thought leaders for captivating discussions in real-time. The Lead-Lag Live podcast aims to provide valuable insights, analysis, and actionable advice for investors and financial professionals alike.As a dedicated listener, you can expect to hear from renowned financial experts, best-selling authors, and market strategists as they share their wealth of knowledge and experience. With a focus on topical issues and their potential impact on financial markets, these live unscripted conversations will ensure that you stay informed and ahead of the curve.Subscribe to the Lead-Lag Live podcast and follow @leadlagreport on X to stay updated on upcoming live conversations and to gain exclusive access to a treasure trove of financial wisdom. Don't miss out on this incredible opportunity to learn from the best and brightest minds in the business.Join us on this journey as we explore the complex world of finance and investments, one live unscripted conversation at a time. Be sure to like, comment, and share the Lead-Lag Live podcast with your network to help others discover these invaluable insights.Stay tuned for the latest episode of the Lead-Lag Live podcast, and remember to turn on notifications so you never miss a live conversation with your favorite thought leaders. Happy listening!
Latest episodes

Jun 1, 2025 • 45min
Trading Psychology Unveiled
JJ Kinahan, CEO of IG North America and veteran trader, shares insights on the seismic shifts in retail trading. He discusses how retail traders now have access to professional-grade tools and rapid information flow. The conversation highlights the psychology of traders during market uncertainties, revealing patterns in their moves from ETFs to individual stocks. JJ emphasizes the importance of understanding personal risk tolerance and making calculated decisions, urging new traders to start small and be more strategic.

May 31, 2025 • 43min
Finding the Hidden Gems in Mid-Cap Markets
Seth Cogswell, a contrarian Portfolio Manager at Running Oak and the brains behind the RUNN ETF, challenges the obsession with mega-cap stocks. He highlights the untapped potential of mid-cap companies, which have historically outperformed larger counterparts. Cogswell discusses the dangers of corporate debt and the looming threat of 'zombie companies' in today’s market. He emphasizes the importance of quality investing and advocates for an equal-weight approach to harness opportunities where others overlook, providing fresh insights into navigating complex market dynamics.

7 snips
May 29, 2025 • 45min
The Hidden Bus: Preparing for Market Uncertainty
In this insightful discussion, Brad Barrie, a consultant and portfolio manager at Dynamic Wealth, shares his innovative thoughts on market disruptions. He challenges the traditional view of diversification, arguing that owning more assets doesn’t equate to safety. Using the 'bus you don’t see' analogy, he highlights unnoticed risks that can hit investors hard. Brad also explains his Dynamic Alpha Macro Fund's unique strategy, which combines global macro futures with equities, ensuring genuine non-correlation to enhance stability even in volatility.

May 26, 2025 • 49min
Unlocking China's Potential Through Covered Calls
In this engaging discussion, Jonathan Shelon, COO of KraneShares, highlights the rise of covered call strategies in today’s unpredictable markets. He explains how KLIP, an ETF focused on Chinese internet stocks, manages to generate monthly yields of 3-5%. Shelon emphasizes the benefits of diversifying with Chinese equities, which have appealing valuations compared to U.S. markets. He also explores the vital differences in market cycles between the U.S. and China, offering insights for investors looking to optimize income through international assets.

16 snips
May 25, 2025 • 53min
Navigating Rising Yields
In this engaging discussion, Jim Bianco, a macroeconomic expert and leader of Bianco Research, teams up with Jay Hatfield, a seasoned macro strategist managing $2.6 billion at Infrastructure Capital. They delve into the paradox of rising Treasury yields amidst Fed rate cuts and the implications for investors. Hatfield introduces his "Hopfield Rule," linking housing starts to potential recessions, while Bianco highlights the powerful influence of retail investors in stabilizing markets. The duo also examines the effects of fluctuating oil prices and the evolving landscape of inflation.

May 23, 2025 • 29min
Inside AI: The Future of Technology Investments
Paul Shelton, a growth solutions expert at Columbia Threadneedle Investments, shares insightful perspectives on the evolving tech landscape. He discusses the importance of understanding technology as a transformative force across industries. The conversation highlights Columbia Threadneedle's strategic focus on sustainable competitive advantages and long-term investment patience, evidenced by their successes with tech giants like Microsoft and Amazon. Shelton also addresses the volatility of AI investments and the continued growth of the tech sector amidst various market challenges.

May 22, 2025 • 39min
Money & Markets: Navigating Stagflation
Al Chahidi, a seasoned portfolio manager and author from Evoke Advisors, discusses the pressing issue of stagflation and its implications for investors. He breaks down how the current economic landscape, marked by slow growth and high inflation, challenges traditional portfolio strategies. Chahidi emphasizes the advantages of risk parity approaches and highlights gold as a superior asset, having historically performed well during stagflation. The conversation urges listeners to reconsider their investment strategies in light of these uncertain conditions.

6 snips
May 20, 2025 • 15min
Market Mayhem: Is the Worst Behind Us?
Michael A. Gayed, Publisher of The Lead-Lag Report, shares his keen market insights and macro analysis that often precede major trends. He delves into the fragility of the current market recovery, highlighting the alarming disconnect between credit spreads and small caps. Gayed identifies potential risks in diminishing gold as a safe haven asset and argues that market manipulation is unprecedented, influenced by political rhetoric. His candid thoughts on market signals and investment strategies provide a compelling look at today’s financial dynamics.

May 18, 2025 • 49min
Investment Strategies for Uncertain Times
The financial landscape has dramatically shifted, leaving income-focused investors struggling to find reliable yield. Traditional bonds no longer serve as the dependable ballast they once were, forcing advisors and retirees to explore alternative paths to consistent income.Howard Chan, formerly of PIMCO and Goldman Sachs, shares how his firm Kurv Investments is addressing this challenge through volatility harvesting strategies that transform growth-oriented technology stocks into income-generating powerhouses. This approach solves a fundamental dilemma: no longer must investors choose between growth potential and current income – they can potentially have both.What makes these strategies particularly valuable today is the breakdown of traditional asset correlations. The negative relationship between stocks and bonds that underpinned the classic 60/40 portfolio has weakened significantly, with both assets sometimes declining simultaneously during market stress. Volatility itself has emerged as an effective portfolio diversifier with a -0.8 correlation to equity markets this year.Through covered call writing on high-volatility tech names, these strategies can generate substantial yields (7-14% annually) while maintaining some upside participation. The approach follows a four-step framework for navigating market turbulence: mitigating downside during corrections, generating income while awaiting clarity, repositioning for rebounds, and then capturing upside during risk-on periods.Particularly enlightening is Howard's warning about NAV erosion in high-yield ETFs – when funds promise distributions above what markets can sustainably deliver, they must return principal to maintain their stated yield, creating a slow death spiral for investor capital. This critical concept is often overlooked by yield-hungry retail investors.For those approaching or in retirement who rely on portfolio income rather than total return, these alternative income streams may provide the consistency and tax efficiency that traditional fixed income currently lacks. As Howard notes, with US debt growing at 7% while GDP grows at just 2-3%, challenging fiscal choices lie ahead – making thoughtful income strategies more essential than ever.With ChatDOC, instantly analyze professional documents using AI — featuring word-level citations, chart/formula breakdowns, cross-file query, and full support for PDFs/epub/scanned files.Free version handles 10 documents (up to 3000 pages) and cross-searches 30 files.Click the link below to unlock +10 document slots : https://chatdoc.com?src=leadlaglive Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Foodies unite…with HowUdish!It’s social media with a secret sauce: FOOD! The world’s first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today: Support the show

May 17, 2025 • 38min
Gold: The Only True Wealth Preserver
What if everything you've been told about money and wealth preservation is fundamentally flawed? In this eye-opening conversation with Lynette Zhang, a financial expert with over 50 years of market experience, we explore why physical gold remains the ultimate safe haven during times of monetary uncertainty."If you don't hold it, you don't own it," Zhang states emphatically, challenging conventional financial wisdom. Drawing on her background as a banker and stockbroker who has studied currency life cycles since 1987, she reveals the predictable patterns that signal our current monetary system's final stages. With the US dollar having lost 97% of its purchasing power, Zhang argues we're witnessing the death throes of fiat currency—something central banks worldwide seem to acknowledge as they accumulate gold at historic rates.The conversation takes a fascinating turn when Zhang calculates gold's true fundamental value at over $40,000 per ounce—far above current market prices. This isn't wishful thinking but based on dividing global debt by all existing gold, revealing just how severely undervalued the metal remains despite recent price increases. Zhang explains how governments suppress gold prices through paper markets because "a rising gold price is an indication of a failing fiat currency."Perhaps most compelling is Zhang's framework for diversification. While many advisors consider stocks and bonds sufficient diversification, Zhang demonstrates why tangible assets like physical gold and silver are the only true portfolio diversifiers during a currency transition. As she puts it: "During transitions, wealth never disappears, it just shifts location."Whether you're deeply concerned about monetary policy or simply looking to protect your financial future, this conversation provides actionable insights on positioning yourself for what Zhang believes is an inevitable currency reset. Subscribe and share your thoughts on preparing for financial uncertainty in today's rapidly changing world.With ChatDOC, instantly analyze professional documents using AI — featuring word-level citations, chart/formula breakdowns, cross-file query, and full support for PDFs/epub/scanned files.Free version handles 10 documents (up to 3000 pages) and cross-searches 30 files.Click the link below to unlock +10 document slots : https://chatdoc.com?src=leadlaglive Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Support the show