The Long View

Ankur Crawford, a senior vice president and portfolio manager at Fred Alger Management, shares her journey from engineering to finance, emphasizing the analytical mindset that shapes her investment strategies. The discussion dives into the transformative impact of AI on productivity and innovation, comparing its disruption to historical technologies like the steam engine. Crawford also examines the complexities of regulating AI, the influence of geopolitical events on market volatility, and the intricacies of growth versus value investing in today’s concentrated market.

In this engaging discussion, Christine Benz, the director of personal finance and retirement planning at Morningstar and a seasoned expert since 1993, shares key insights from her book, 'How to Retire.' She delves into the emotional and psychological aspects of retirement, emphasizing the importance of purpose and relationships. Christine critiques common strategies like the bucket approach, while offering personalized planning tools. She also discusses innovative solutions for aging, spending wisely, and maintaining health, all aimed at achieving a fulfilling retirement.

Hendrik Bessembinder, a market design expert and professor at Arizona State University, dives into the intriguing question of whether stocks truly outperform Treasury bills. He discusses his research revealing that 57% of stocks have historically underperformed, emphasizing the role of dividends and market capitalization. The conversation also tackles the active versus passive investment debate, showcasing the complexities of stock return distributions and the need for diverse strategies. Bessembinder’s insights challenge conventional stock picking and highlight the importance of adapting to market changes.

Kathy Stokes, director of Fraud Prevention Programs at AARP, focuses on financial fraud education for older adults. She discusses the alarming rise of investment fraud, revealing $10 billion in reported losses in 2023 alone. Emotional manipulation and sophisticated scams are on the rise, targeting vulnerable populations. Kathy emphasizes the need for skepticism and the use of resources like BrokerCheck to verify advisors. Trusted contacts and proactive measures are essential in safeguarding against deception, along with stronger law enforcement coordination to combat these issues.

Omar Aguilar, CEO of Schwab Asset Management, and Sébastien Page, head of Global Multi-Asset Investing at T. Rowe Price, dive into the complex economic landscape for 2024. They discuss the Federal Reserve's monetary policy and the challenges of economic forecasting amidst inflation. The duo emphasizes evolving strategies for conservative portfolios, highlighting the shift towards fixed income and the significance of diversified asset allocation. Additionally, they explore the implications of market dynamics on retirement planning and the role of alternative assets.

Jackie Cummings Koski is a certified financial planner and author of "F.I.R.E. For Dummies," dedicated to helping late starters on their financial independence journeys. She shares her inspiring story of overcoming a challenging upbringing and navigating financial hurdles, including divorce. Jackie emphasizes the power of financial education, discusses the benefits of Health Savings Accounts, and highlights strategies for achieving financial independence. Her mission is to empower others, proving it's never too late to start on the path to financial freedom.

Daniel Peris, who oversees dividend-focused portfolios for Federated Hermes and has authored several investing books, delves into his new work on dividend investing and the market's paradigm shift. He discusses the crucial role of dividends and cash flows, contrasting traditional financial metrics with the ownership mindset. Peris critiques modern portfolio theory and highlights the resurgence of dividends in investment strategies. He also touches on historical reflections on Russia and its impact on Western relations, weaving an engaging narrative of stability and market evolution.

Matt Hougan, a leading expert in crypto and financial technology, takes listeners on a journey through the evolution of cryptocurrency. He dispels myths around Bitcoin, comparing it to gold while addressing its role in portfolio diversification. Hougan explains how crypto can be integrated into traditional investment strategies and highlights the growth potential of Bitcoin ETFs. He also discusses the risks and challenges cryptocurrencies face, emphasizing the importance of cautious investment approaches as the landscape evolves.

Carl Tannenbaum, chief economist for Northern Trust and former risk chief at the Federal Reserve, shares insightful perspectives on current economic turbulence. He discusses the complexities of trade policies, specifically critiquing tariffs and their impact on inflation and interest rates. The conversation delves into the evolving commercial real estate landscape post-COVID, and the financial lessons learned from recent banking collapses. Tannenbaum also explores the transformative role of AI in the economy and emphasizes the need for adaptive investment strategies.

Brian Feroldi, financial educator and founder of Long Term Mindset, discusses his investing journey, company analysis, and avoiding investing pitfalls. He shares insights on market volatility, valuation challenges, and the impact of rising interest rates on stock market. The podcast emphasizes the importance of education, long-term investing, and avoiding emotional pitfalls in the current market.