Resolve Riffs Investment Podcast

Our friend Jeff Weniger, Head of Equity Strategy at Wisdom Tree, returned as this week’s guest. Our wide-ranging conversation covered topics including: How sticky has inflation really become Many ways to measure inflation Leading and lagging indicators The recent drop in US home prices and the health of the real-estate market How the recent rise in interest rates affects mortgages and affordabilit...

As we returned from the summer break, the season’s opening episode brought the ReSolve crew together for a deep dive into Commodity Trading Advisor (CTA) strategies, often referred to as Managed Futures, covering topics that included: The path we all took to become CTA fund managers The role these strategies can and should play in portfolios How to position them within a broader asset allocation f...

Today’s guest is Claudia Sahm, who is the founder of Stay-At-Home Macro Consulting. She also writes a Substack of the same name, stayathomemacro.substack.com . She is a former Federal Reserve analyst, and also a former White House economic adviser. Claudia and I discussed the interaction between fiscal and monetary policy, and how the government and the Federal Reserve might more effectively combi...

 Logan is one of the foremost experts on the state and health of the U.S. housing market. In his capacity as Lead Analyst for HousingWire, he invokes a comprehensive data-driven framework for understanding the fundamental drivers of housing supply and demand. Logan demonstrated his expertise on the subject, bringing to bear data and analysis from a variety of sources and perspectives. The housing...

The conversation was motivated by Demetri’s tweets about MMT and fiscal policy, which stirred up quite a conflagration, and involved several primary exponents of MMT including Warren Mosler and Rohan Gray.   Adam and Demetri spent the first 35 or 40 minutes on MMT, mostly overcoming the frustration around the politicization of the concept. They discussed inequality and government’s involvement in...

This week we welcomed back our good friend Jason Buck (founder and CIO of Mutiny Fund) for the final episode before the summer break. Our conversation included: Recent price action in the commodity space The incredible confidence of the ‘buy the dip’ equity investors An end to the “bad news is good news” regime The mental pivot required to successfully navigate regime shift Why prolonged bear mark...

This week we had the pleasure of welcoming Jeff Snider (Head of Global Investment Research at Alhambra Investments) and Emil Kalinowski (enterprising investor, author and host of both a talk radio show and a podcast). Together, they co-host Eurodollar University podcast and shed light on the complexities of the global monetary system. Our conversation included: Back to basics – how the global curr...

For this week’s special episode, Adam, Mike, Rodrigo and Richard gathered to explore the building blocks of an ultimate All Weather portfolio. Our conversation included: The blind spots of the 60/40 stock-bond portfolio Regime dependency and economic shocks Diversifiable versus non-diversifiable risks How to create an optimal portfolio that can navigate most regimes Why Global Risk Parity is the n...

We had the pleasure this week of speaking with Cem Karsan (the pronunciation can be a bit challenging, bit the hint is in his Twitter handle - @jam_croissant ), founder of Kai Volatility Advisors . His deep knowledge of market structures and investment flows took us on a fascinating conversation that included: Joining a team early in his career that would become one of the Street’s largest options...

This week Adam and Rodrigo of ReSolve Global* had the pleasure of speaking with Jason Josephiac of Meketa Investment Group. Our conversation spanned topics including: His background in the industry and joining Meketa Asset Allocation: label/category diversification vs. risk/functional diversification Risk Parity vs. Traditional Asset Allocation What Portable Alpha Synthetically creating your own “...

Our guest this week was Rob Van Wielingen, President & CEO of Viewpoint Investment Partners, a boutique investment management firm offering systematic strategies to private and institutional investors. Our conversation included: The Van Wielingen family background in the oil and gas industry Rob’s decision at an early age to focus on finance and technology Learning from his grandfather’s experienc...

This week we had the pleasure of speaking with Andy Constan (CEO / CIO at Damped Spring Advisors) and prolific member of the FinTwit community under the @dampedspring penname. Our conversation spanned topics including: His long and interesting career in the investment world Starting with equity derivatives and eventually earning his ‘global macro education’ at Bridgewater Associates The constantly...

Vincent Deluard is the Global Macro Strategist for StoneX, where he advises institutional investors on asset allocation and risk management. He joined us for an awesome conversation that covered topics including: His early life in France - expectations for public service but ‘saved’ by a scholarship to study abroad Bitten by the ‘quantitative bug’ from the very start of his career How his macro fr...

It had been a while since we riffed with our good friend Meb Faber (co-founder and the Chief Investment Officer of Cambria Investment Management), and as always, he didn’t disappoint. Our thought-provoking conversation covered topics such as: Meb’s big announcement – his Idea Farm, which curates investment content from a wide variety of sources, is now free Recent equity market dynamics and the pa...

We were joined this week by Kris Abdelmessih, who spent most of his career as an options trader and now writes about the relationship between money, work and creativity in the Moontower blog and weekly newsletter. Our conversation covered topics that included: Becoming a derivatives and options trader straight out of college Defining the difference between trading and investing Identifying alpha –...

Our guest this week was Rohan Grey, assistant professor at Willamette University College of Law where he teaches Contracts, Business Associations and Securities Regulation. Rohan is also a prominent advocate of Modern Monetary Theory (MMT) and has also recently been involved in drafting regulations in the digital asset and currency space. Our wide ranging conversation took us through historical pe...

Dr. Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management joins ReSolve Global CIO Adam Butler to discuss the core themes from Antti’s new book, “Investing Amid Low Expected Returns.” In this 100 minute conversation we explore the following themes at length: The pros and cons of several models for forecasting stock returns The role of bonds in portf...

Our guest this week was Stuart Barton, co-founder and Chief Investment Officer at Volatility Shares. Our conversation ranged across topics that included: Early career as a vol trader and how the space has changed over time Volatility Shares’ investment approach – probability-weighting and active trading ETNs, ETFs and other ‘packaging’ models – benefits and drawbacks Settlement as a crucial variab...

This week we had the pleasure of welcoming Bilal Hafeez, founder, CEO and Head of Research at Macro Hive, and the host of the Macro Hive Conversations podcast. We had a broad global macro conversation that included: Bilal’s journey in the finance industry through North America, Asia and back to Europe Retiring from corporate life and founding a ‘hive-mind’ research firm A top-down approach with an...

Our good friend Eric Balchunas (Senior ETF Analyst at Bloomberg Intelligence) joined us once again, this time to discuss his new book “The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions”. We covered topics that included: Bogle’s early life as a university student and his 1949 thesis Becoming the young CEO of Wellington Fund at age 35 Bogle’s i...

We were joined this week by Preet Banerjee, host of the Mostly Money podcast, management consultant focused on commercial applications of behavioral finance, and founder of MoneyGaps’: "Light Financial Planning" software for advisors. Our conversation included topics such as: Preet’s diverse background – from neuroscience and financial advisory to auto racing Realizing everything is about psycholo...

We were joined this week by none other than Alex Gurevich, founder and CIO of HonTe Investments, author of The Next Perfect Trade, and more recently The Trades of March 2020 – A Shield Against Uncertainty, and a legend in the macro hedge fund industry. Our conversation included topics such as: His background in math, and as a competitive chess, GO and poker player An analytical approach that was w...

This week we had the pleasure of speaking with Marcos Bueno, CIO at Ascent Systematic Advisors. Marcos has a diverse and well-rounded backgrounded in finance, and our conversation covered topics that included: His background at proprietary trading desks and macro funds Starting his career in fundamental, research-oriented investing Early successes during a bull market while recognizing the role of...

After a multi-decade slumber, inflation has been dominating the economic and financial zeitgeist over the last twelve months. The sustained sell-off in both US stocks and bonds at the start of 2022 was an unfamiliar sight to investors that grew accustomed to the negative correlation that created the once mighty 60/40 portfolio. Are we entering a new paradigm where inflation has both higher mean an...

Our guest this week was Cullen Roche, CIO of Disciplined Funds, founder of Orcam Financial Group and author of Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance. We discussed topics that included: Disciplined Funds’ macro-oriented investment approach Cullen’s rude awakening – classic economics learned in university is largely at odds with real world economics Taking a...