The Long View

Charley Ellis, founder of Greenwich Associates and author of 'Winning the Loser's Game,' shares his extensive expertise in investment consulting. He discusses the power curve of investing, emphasizing the importance of starting early for maximum growth. The conversation tackles how technology has leveled the playing field for individual investors while critically analyzing the drawbacks of high-fee active management. Ellis advocates for low-cost index funds, addressing the complex dynamics between financial advisors and clients, urging a focus on long-term strategies for wealth building.

Cliff Asness, founder of AQR Capital Management and a renowned voice in financial research, returns to discuss pressing economic issues. He critiques the impact of tariffs and stagflation on investment strategies, advocating for diversification and uncorrelated assets. The conversation takes a humorous detour into the absurdities of meme coins while emphasizing the enduring value of well-chosen investments. Asness also examines the ongoing debate between value and growth stocks and explores the transformative role of AI in quantitative investing.

Nick Maggiulli, COO and data scientist at Ritholtz Wealth Management, returns to share insights from his new book, 'The Wealth Ladder.' He discusses the six levels of wealth and how the pandemic reshaped economic classes. Nick highlights the importance of aligning spending with personal values and introduces the 0.01 percent rule for smarter financial decisions. He also critiques the FIRE movement, stressing the need for purpose beyond just financial independence. Dive into wealth strategies and the psychology behind money in this engaging conversation!

Brian Selmo, portfolio manager and research director at First Pacific Advisors, shares invaluable insights on navigating today's financial landscape. He discusses the importance of diversification and emphasizes investing in quality businesses over macro predictions. The dynamic of healthcare investments post-COVID is explored, alongside the potential of AI in this sector. Selmo also delves into emerging markets and the advantages of private market investments, while highlighting the crucial role of effective communication to maintain investor confidence during downturns.

In this engaging discussion, Salim Ramji, CEO of Vanguard, shares insights from his extensive background at BlackRock and McKinsey. He talks about Vanguard's mission to simplify investments amid rising portfolio complexity. Ramji emphasizes the importance of fee reductions for better investor outcomes and introduces innovative AI-driven tools enhancing client service. He also touches on the challenges of transitioning from wealth accumulation to retirement steadying, advocating for a balanced approach between active and passive investment strategies.

JL Collins, a leading voice in financial independence, returns to discuss the updated edition of his bestseller, The Simple Path to Wealth. He shares timeless investment philosophies and emphasizes the importance of personal resilience in achieving financial goals. The conversation tackles student debt and strategic investment approaches, advocating for simplicity in investing. Using a humorous beer metaphor, JL distinguishes between speculative bubbles and solid investments, while promoting low-cost index funds for effective diversification.

Eric Simonson, CEO of Abundo Wealth and head of the Advice-Only Network, champions a revolutionary approach to financial planning. He discusses the rise of advice-only services, emphasizing transparency and ethical benefits over traditional commission-based models. Eric shares strategies for aligning personal values with financial habits post-COVID, navigating investment strategies in a volatile market, and maximizing travel rewards through savvy spending. His insights on the advantages of flat-fee financial advice are particularly enlightening for those seeking clarity in their financial journeys.

Rosanne Corcoran, Director of Content Strategy for Daughterhood.org and host of Daughterhood, the Podcast, discusses the unique challenges faced by family caregivers. She emphasizes the importance of community and support among caregivers, highlighting their often isolating experiences. The conversation dives into the financial complexities of long-term care, including Medicare and Medicaid, and suggests practical strategies for navigating these hurdles. Rosanne also shares the emotional toll on caregivers and the vital role of open communication and planning for aging.

In this episode, Dave Sekera, Chief U.S. Market Strategist at Morningstar, and Damien Conover, Director of Equity Research, dive into intriguing stock market dynamics. They assess the Federal Reserve's potential interest rate cuts and review recent earnings, particularly from Adobe. Damien highlights sectors vulnerable to tariffs and suggests stock strategies to navigate market uncertainties. Listeners also gain insights on how geopolitical tensions may impact U.S. stocks, alongside recommendations for undervalued investments to watch.

In this engaging discussion, Paul Ashworth, Chief North America Economist at Capital Economics and the 2010 Wall Street Journal Forecaster of the Year, delves into the complexities of the current economic landscape. He examines the impact of political shifts on forecasting accuracy, emphasizing the unpredictability stemming from recent tariffs and trade policies. The conversation also explores consumer sentiment trends and inflation risks, alongside the broader implications of AI and demographic changes on productivity and economic growth.