This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Almost three decades since the very first launch, Exchange Traded Funds (ETFs) have grown to a multi-trillion-dollar segment of the market, with more than seven thousand spread across the world. The US market is home to approximately 30 percent of them, spanning the passive/index-tracking, actively managed and thematic categories, not to mention a handful of more exoteric ...
Mar 02, 2021•1 hr 52 min•Ep. 66
In this episode, Rodrigo Gordillo, Rafael Ortega and Ignacio Villalonga from Zona Quant discussed quantitative methods in Spanish.
Feb 26, 2021•2 hr 15 min•Ep. 65
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Over the last few years, the topic of mental health, once taboo, has been recognized as a crucial component of our general well-being. Yet depression, anxiety and other ailments of the mind remain largely a silent epidemic, and the last twelve months have been particularly hard because of the loneliness many have endured due to the lockdowns. Our guest this week was Matt Z...
Feb 25, 2021•1 hr 27 min•Ep. 64
“I think there are a lot of people who feel a genuine frustration at how the system has behaved, and more importantly about how there has been this dynamic of privatized gains and socialised losses. The way I would resolve it is, you know that’s wrong. And yet it seems that the models or the tools that are being used give us no option to that. And at the core, what that’s telling you is that the models are a mistake…” Mike Green In this podcast, Mike Green and I discussed political philosophy. W...
Feb 22, 2021•1 hr 45 min•Ep. 63
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. This week we had the great pleasure of hosting none other than Lyn Alden (founder of Lyn Alden Investment Strategy), one of today’s most prominent macro strategists and thinkers. Her background in both engineering and economics endows her with a diverse skillset and unique perspective, which helps her (as well as her readers and clients) make sense of the extremely challen...
Feb 17, 2021•1 hr 33 min•Ep. 62
Today’s conversation is with Razvan Remsing, Director of Investment Solutions at Aspect Capital. Aspect is a multi-billion dollar London based systematic investment manager founded by one of the original founders of AHL. Razvan’s role is at the intersection of investment strategy research, product development, and client management, which positions him to comment on themes ranging from client engagement and communications through specific details about the underlying mechanics of Aspect’s strate...
Feb 10, 2021•56 min•Ep. 61
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. An almost USD 2 trillion fiscal bill is moving ahead in Congress, while breakeven rates rose above the 2 percent mark for the first time since 2018 (with no signs of relenting). It is no wonder that inflation is now top of mind for investors. Uncertainty isn’t limited to whether it reawakens after almost four decades, but how it might manifest and how investors should prot...
Feb 09, 2021•1 hr 20 min•Ep. 60
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. With governments pressing on with huge fiscal and monetary expansion, fears of inflation have once again resurfaced. The spectacular rise in the price of grains and other raw materials, some by as much as 30% last year, have added fuel to these concerns. To discuss this inflationary macro backdrop we welcomed Bill Fleckenstein (President of Fleckenstein Capital & co-ho...
Jan 31, 2021•1 hr 19 min•Ep. 59
In this episode, Rodrigo Gordillo had the pleasure of being interviewed by Ignacio Villalonga from Zona Quant, a quant blogger who is part of a growing community of quantitative investors from Spain. In this inaugural Spanish speaking episode, Rodrigo fielded a series of questions sourced from the Spanish speaking FinTwit community that covered everything from proper global diversification and how to minimize data mining, to the benefits of the Rebalancing Premium, and much more. Zona Quant: htt...
Jan 27, 2021•1 hr 46 min•Ep. 58
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. This week we riffed with Patrick Ceresna of Big Picture Trading, fellow podcaster and co-host of the popular shows Macro Voices and The Market Huddle. His trading framework combines a seasoned, top-down macroeconomic perspective with deep knowledge of technical analysis and prolific use of options to express his market views. Our conversation included: Living in the trench...
Jan 26, 2021•1 hr 38 min•Ep. 57
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Convexity is one of those concepts that even if you understand it, explaining it to someone can still be hard, especially for a layperson. Unless you are the Convexity Maven, in which case it is second nature and you can apparently explain it to your mom. We had the pleasure of hosting Harley Bassman, creator of the popular MOVE Index, for a wide ranging and truly entertai...
Jan 19, 2021•1 hr 21 min•Ep. 56
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Like virtually all segments of the investment industry, the financial advisory business has undergone significant shifts over the past two decades. Gone are the days where a pasteurized, assembly-line approach with catchy branding is enough for a thriving enterprise. In the digital age, investors – like everyone else – want authenticity. They seek a personal touch. They ye...
Jan 12, 2021•1 hr 28 min•Ep. 55
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. 2020 has been a year like no other in living memory. Though the global pandemic has obviously been the most important story of the year (and quite possibly of a generation), stocks have rallied to new all-time highs, companies have raised record amounts of capital and the technology sector has minted a handful of TRILLION-dollar firms. Though some investors find this fitti...
Dec 23, 2020•1 hr 16 min•Ep. 54
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Most investors have 30 - 50% or more allocated to bonds. With U.S. equities at nosebleed valuations, investors need to wring the most efficient returns out of every sleeve of their portfolio. Brian is the Associate Director, Fixed-Income Strategies, Manager Research at Morningstar so we focused on the fixed income sleeve of portfolios. Specifically, we wanted to know how i...
Dec 15, 2020•1 hr 12 min•Ep. 53
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. As life expectancy increased throughout much of the past century, so did the importance of saving and growing one’s nest egg for retirement. Though most who retired during the last 40 years enjoyed a massive tailwind from stocks and bonds, those that switched from accumulating to drawing down their savings between 2000 and 2002 suffered a rude awakening. Currently, there i...
Dec 07, 2020•1 hr 19 min•Ep. 52
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Our guest this week was none other than Meb Faber (co-counder and CIO of Cambria Investment Management), a well-known quant and prominent member of the FinTwit community. In addition to being an asset manager, he is an entrepreneur and venture capitalist, not to mention host of a popular podcast – and therefore an entertainer at heart. We enjoyed a wide ranging conversatio...
Dec 01, 2020•1 hr 34 min•Ep. 51
Today’s conversation is with Alexander Mende, Senior Investment Analyst and Head of Investment Research at RPM Risk and Portfolio Management in Stockholm, Sweden. RPM is an alternative investment firm, focusing on directional investment strategies, specifically Managed Futures and Global Macro. Alex is responsible for portfolio management, quant and macro research, manager screening and selection at the firm. We spend the first few minutes discussing the experience of living with COVID-19 in Swe...
Nov 26, 2020•51 min
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. The year that saw the fastest decline, followed by the steepest recovery in market history has left one topic top of mind for most investors – volatility. Though down from its eye-watering spike in the first quarter, the VIX (CBOE Volatility Index) has remained significantly higher than in previous years, and not without good reason. The ongoing pandemic, a bifurcated and ...
Nov 24, 2020•1 hr 18 min•Ep. 49
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. As US equities and bonds continue their apparently unstoppable rally, their expected return over the coming years grows vanishingly small, Especially if markets are faced with anything other than the goldilocks environment of growth, deflation and abundant liquidity that has ruled the past 12 years. Readers of our research (as well as any student of history) will know that...
Nov 18, 2020•1 hr 13 min•Ep. 48
ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day
Nov 13, 2020•1 hr 26 min
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. In an upside-down market it’s hard to know which way is up. Many investors rely on Kevin Muir, otherwise known as the Macro Tourist, to help them navigate these uncharted waters. Kevin is a pragmatic macro analyst and trader who is focused on trading markets as they are, rather than how you might wish they were. This means being conscious of your own ideologies and biases ...
Nov 02, 2020•1 hr 34 min•Ep. 46
This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. Even the term used to describe this asset-class is loaded with controversy. Some say cryptocurrency is a misnomer, since Bitcoin and its lesser known brethren can neither be considered a medium of exchange nor a store of value. Rob Furse (co-founder & president of Echelon Wealth Partners) and Matthew Edwards (CEO & CIO of Dalpha Capital Management) would certainly ...
Oct 27, 2020•1 hr 29 min•Ep. 45
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Before you begin, we highly recommend that you first watch this short video , which serves as a foreword and sets the table for this episode. After enjoying many years of immense popularity, factor investing (also known as alternative risk premia or smart beta) is suffering from significant underperformance, both across asset-classes and especially within security selectio...
Oct 19, 2020•1 hr 29 min•Ep. 44
This is “ReSolve’s Riffs” – live on Youtube every Friday afternoon to debate the most relevant investment topics of the day. It is said that creating a job for yourself is always better than getting one. Whoever said that probably never lived through the trials and tribulations of being an entrepreneur. But some people just can’t help themselves. Phil Bak is one of these serial entrepreneurs . He joined us to riff on topics such as: Building businesses from a young age and knowing when to sell t...
Oct 15, 2020•1 hr 12 min•Ep. 43
Today’s conversation is with Marat Molyboga, Chief Risk Officer and Director of Research at Efficient Capital Management. Marat is a soviet trained mathematician who achieved his Masters in Applied Mathematics in Moscow, and holds an MBA in Finance from University of Chicago, a CFA, and a PhD in Finance from EDHEC business school. He has authored or co-authored 20 published papers. Efficient specializes in building multi-manager investment solutions for institutional investors with a particular ...
Oct 14, 2020•1 hr 12 min•Ep. 42
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Ever lower interest rates and debt-fueled growth have been the major driving force for asset price appreciation over the last four decades. Many have now come to believe that the system is close to a breaking point, teetering at the edge due to a virtually unpayable debt overhang that has created multiple asset bubbles across the world. To make sense of the current macroec...
Oct 05, 2020•1 hr 46 min•Ep. 41
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. It is, without a doubt, the most logical starting point for any portfolio that seeks both global diversity and risk balance. Preparation before prediction . First, do no harm. Yet there is a wide range of ways to structure and deploy Risk Parity – as always, the devil is in the details (for a deeper dive check out our recent whitepaper ). We had the pleasure of speaking wi...
Sep 29, 2020•1 hr 39 min•Ep. 40
Today’s conversation is with David Berns, an emerging thought leader in asset allocation and behavioral finance, who is pushing the boundaries on how to best measure real-world behavioral preferences and build optimal portfolios that actively incorporate this extra information. We open the conversation with a discussion of his involvement in the design and launch of three new ETFs, which seek to deliver an investment experience that addresses both traditional mean-variance preferences, and also ...
Sep 28, 2020•52 min•Ep. 39
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Every time equity markets experience a major selloff, investors’ attentions are drawn to the handful of strategies that actually benefitted from the event. So-called crisis alpha comes in many flavors and iterations, which further complicates the allocation decision. Our friend Jason Buck (CIO of Mutiny Fund) sought to solve this problem a few years ago. He joined us for a...
Sep 22, 2020•1 hr 40 min•Ep. 38
Many traditional value or factor based investors have been scratching their heads for the past few years, wondering whether a shift in fundamental dynamics may have permanently altered the way markets behave. Corey Hoffstein has been wondering the same thing, which prompted him to spend the last several months speaking to experts in options trading, market microstructure, and the hidden effects of passive index investing about how these forces may be reshaping the underlying market ecosystem. Th...
Sep 21, 2020•1 hr 25 min•Ep. 37
