Lead-Lag Live

Rate cuts change the math on income, but your cash flow doesn’t have to shrink. We invited Will Rind of GraniteShares to unpack a practical way to keep payouts steady as short-term yields slide: a diversified basket of pass-through securities inside the HIPS ETF that aims for an all-weather stream of monthly income. We dig into how REITs, MLPs, BDCs, and fixed income–oriented closed-end funds each respond to different growth and inflation regimes, and why blending them can smooth the ride when markets lurch.We walk through the index rules that power HIPS—screening for the highest yields and the lowest volatility within each sector, then equal-weighting the results—and why the pass-through structure matters. Because these entities distribute most of their income and avoid corporate tax, more of the cash makes it to investors, and a return of capital component can improve after-tax outcomes. We also get candid about trade-offs: NAV will move with markets, but the fund has paid the same fixed monthly amount for more than a decade, including through the 2020 shock when many dividend strategies cut or suspended payouts.From portfolio fit to policy risk, we tackle the real questions advisors and investors ask. Should HIPS be core or a satellite? How does it complement the Agg or government bonds without doubling down on duration or credit? What do expense ratios mean when BDCs are involved, and how should you interpret acquired fund fees? We compare liquid, transparent alternative income to private credit’s lockups and opaque marks, then explore pairing HIPS with GraniteShares’ options-based Yield Boost strategies for those seeking weekly distributions and higher-octane cash flow—recognizing the higher volatility that comes with it.If you’re planning for consistent cash in a falling-rate world, this conversation offers a clear framework, a battle-tested track record, and practical ways to assemble an income sleeve that pays. Subscribe, share this episode with a friend who manages income portfolios, and leave a quick review to tell us what topic you want us to tackle next.#LeadLagLive #HIPS #AlternativeYield #Investing #Income #StockMarketStart your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEsSpotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V  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

Kai Wu, Founder and CIO of Sparkline Capital, dives into the transformative world of AI-driven capital expenditure. He reveals how hyperscalers are shifting to asset-heavy models, potentially overlooking significant concentration risks. Wu draws parallels between the current AI boom and historic capital cycles like the dot-com and railroad eras. He highlights the link between rapid asset growth and market underperformance, urging investors to adopt dynamic positioning strategies as AI adoption evolves.

In this episode of Lead-Lag Live, I sit down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to unpack why the Fed keeps getting it wrong—and how investors can actually benefit from the new rate-cutting cycle.From outdated shelter calculations to overlooked leading indicators, Jay explains why monetary policy needs modernization and where the next opportunities lie as markets adjust.In this episode:– Why the Fed’s reliance on lagging shelter data distorts inflation– How the monetary base drives every economic– Why small caps and financials stand to outperform in a lower-rate– The case for preferred, high-yield bonds, and MLPs as overlooked– How AI-driven energy demand is creating a hidden natural gasLead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.#LeadLagLive #JayHatfield #Fed #InterestRates #SmallCaps #Preferreds #MLPs #AIStart your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEsSpotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V  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

Discover how traders effectively use the collar strategy as a dynamic insurance policy for their portfolios. The discussion dives into crucial risk management practices over stock picking, illustrated by real examples from Apple and Nvidia. Learn how collars offer flexibility in protecting investments while maintaining upside potential. Plus, gain insights into advanced adjustments and the importance of viewing diversification as managing opportunities, not just spreading investments.

In this engaging discussion, Derek Yan, Director at KraneShares and lead on the AGIX ETF initiative, reveals how AGIX allows investors to tap into promising private AI companies like Anthropic and xAI. He elaborates on the hybrid ETF design that marries public equities with late-stage private firms, utilizing a unique AI scoring framework to spot genuine innovators. The conversation also dives into the potential of foundational model companies and why enterprise AI might soon eclipse its consumer counterpart in profitability.

In this conversation, Brandon Thor, CEO of Thor Metals Group and advocate for financial sovereignty through gold, sheds light on the misconceptions surrounding the precious metal. He discusses why less than 1% of investors own gold, emphasizing its stability against counterparty risk. Brandon critiques Wall Street's resistance to gold ownership and highlights his firm's transparency in combating industry markups. He also argues that crypto falls short as a true alternative and stresses the importance of gold in intergenerational wealth transfer.

Jay Hatfield, CEO of Infrastructure Capital, shares his expertise on the questionable accuracy of BLS jobs data and its impact on investment strategies. He discusses how bond markets are signaling potential Fed cuts and argues for focusing on small caps and REITs as we approach year-end. Hatfield also emphasizes the need for a modern approach to labor data and warns that tariffs may distract from more pressing Fed policy issues. Tune in for valuable insights on navigating a slowing economy and uncovering hidden investment opportunities.

David Busch, CFA and Co-Chief Investment Officer at Trajan Wealth, shares his expertise on navigating today’s turbulent financial landscape. He delves into the Federal Reserve's recent signals and their impacts on market expectations. David contrasts the contrasting trends of CPI and PPI, highlighting their implications for investors. He addresses the growth versus value equity dilemma and warns of potential weaknesses in consumer data. Additionally, he presents an intriguing case for intermediate-term bonds as a unique investment opportunity amidst current volatility.

Brendan Ahern, Chief Investment Officer at KraneShares, shares his insights on separating narratives from data in emerging markets. He reveals how headline returns can obscure strong tech performance and highlights key players like TSMC and Alibaba. Ahern discusses the implications of a weaker dollar on global investments, advocating for a shift towards growth stocks outside of U.S. equities. Listeners will gain valuable strategies for navigating the complexities of emerging markets and optimizing their portfolios.

William Rhind, Founder and CEO of GraniteShares, shares insights on innovative YieldBOOST ETFs designed to capitalize on market volatility. He explains how these funds generate impressive weekly distributions by selling options on assets like Tesla and Bitcoin. Rhind highlights the unique blend of high returns and risk management through downside protection, differentiating this strategy from traditional options trading. Listeners will also discover what’s next in the Yield Boost lineup and the growing demand for income-focused ETFs in a fluctuating market.