Animal Spirits Podcast

Michael Sidgmore, Partner and Co-Founder of Broadhaven Ventures, dives into the evolving world of alternative investments, highlighting their shift from institutional to individual accessibility. He discusses the rise of evergreen structure funds, allowing for better liquidity and compounding. The conversation touches on the impact of large firms like Blackstone and the competitive landscape between traditional banks and private credit. Sidgmore stresses the crucial need for financial advisors to educate clients on these investment opportunities and the complexities of private markets.

The hosts dive into the complexities of inflation, surprising many with insights about millennial wealth. They explore the evolving landscape of the stock market and consumer behavior, using Walmart as a key example. Cultural reflections on summer camps highlight their developmental benefits for kids. Delving into the rising gaming industry, they expose financial risks tied to gambling. A humorous take on fitness trends and nostalgic movie critiques keeps the conversation lively and relatable, reflecting on both personal and societal changes.

Kevin Walkush, a Portfolio Manager at Jensen Investment Management, discusses what quality means in investing. He shares insights on the removal of META from their portfolio and dives into the implications of AI and tech bubbles. Walkush highlights sectors poised for long-term growth and how interest rates impact valuations. He emphasizes the importance of risk management and thorough analysis, revealing how quality companies adapt during inflation. The conversation underscores a disciplined, high-quality investment approach in today’s complex market.

The hosts dive into the world of economic disparities, exploring the challenges Boomers and Millennials face in housing and finances. They reflect on market volatility and share humorous comparisons between personal habits and stock market unpredictability. The discussion touches on the impact of interest rates on home buying and the potential refinancing boom, before exploring the ever-evolving entertainment landscape, including Disney's struggles and the resilience of movie theaters. Generational humor adds a light touch as they dissect modern cinematic preferences.

Jerry Prior III, COO & Senior Portfolio Manager of Mount Lucas Management, dives into the world of managed futures. He explains how portfolios can benefit from these strategies and their role in diversifying investments. Jerry discusses the intricacies of trend-following techniques and how they excel in volatile markets, especially during inflationary periods. He shares the fascinating history of the MLM Index and how it evolved into an ETF, showcasing its significance in offering diversification during financial turbulence. A must-listen for finance enthusiasts!

Market mayhem takes center stage as the hosts debate whether we're facing a flash crash or the symptoms of an impending recession. They reflect on Japan's interest rate hike and its global impact. The discussion shifts to the challenges of the restaurant industry, technology’s influence on jobs, and the evolving landscape of service wages. Insights on inflation connect to classic movie reflections, while the hosts express mixed feelings about upcoming films, keeping the conversation lively and engaging.

Mike Simonsen, Founder and President of Altos Research, shares his insights on the shifting housing market landscape. He discusses how accessible real estate data empowers buyers and sellers, the impact of rising interest rates, and potential scenarios for market corrections. Simonsen addresses the struggles younger homebuyers face, including reliance on parental support, and examines regional trends, particularly in Florida and Texas. The conversation also touches on the innovative role of iBuyers and the current dynamics in the mortgage industry.

The hosts dive into the intriguing world of small cap stocks, revealing why they're currently undervalued and how to enhance market performance. They analyze the surge in bond investments and share surprising facts about American wages. Discover the latest trends in gas prices and housing markets, along with a playful debate on the best way to enjoy potatoes. The downfall of major brands like Nike and the rising popularity of IMAX theaters adds to the lively discussion, mixed with light-hearted personal anecdotes.

Jay Jacobs, U.S. Head of Thematic and Active ETFs at BlackRock, shares invaluable insights on innovative investment strategies. He discusses the significant rise of thematic ETFs, driven by the historic Bitcoin and upcoming Ethereum ETF launches. The conversation navigates the reshoring theme, highlighting the shift towards resilient supply chains post-COVID-19. Additionally, Jay explores the regulatory landscape for crypto ETFs and the evolving role of AI in thematic investing, focusing on how investors can adapt to emerging trends.

Kristof Gleich, associated with Harbor Capital, and Scott Colson from Irrational Capital, explore the evolving significance of corporate culture in investing. They detail how strong employee satisfaction can dramatically enhance company performance. Discover innovative measurement methods for human capital, and learn how these insights influence ETF development. The duo emphasizes intrinsic motivators over financial rewards and discusses the systematic investment strategies that capitalize on human capital factors to yield superior results, especially in challenging markets.