This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global. As is often the case with sharp and curious minds, our guest this week traveled a meandering route through his career. While studying meteorology and public health in university, Eric Crittenden (CIO of Standpoint Asset Management) stumbled into an economics class and fell in love with complex dy...
May 04, 2021•2 hr 34 min•Ep. 77
Michael Harris started trading rates and derivatives 30 years ago. He is the Founder of Price Action Lab and the developer of the first commercial software for identifying parameter-less patterns in price action 20 years ago. In the past 10 years he has worked on the development of DLPAL, which is a software program designed to identify short-term anomalies in market data for use with fixed and machine learning models. In this wide ranging interview we discuss: Back testing and generating tradin...
Apr 29, 2021•1 hr 28 min•Ep. 76
Diversity of investments only produces “diversification” if asset classes are held in proper balance. We discuss: The 60/40 portfolio and why it’s not diversified or risk-balanced The advantages of Global Risk Parity Portfolios How leverage helps to preserve diversification Hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global.
Apr 28, 2021•23 min
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global. This week we were joined by Lawrence Hamtil, founder and principal at Fortune Financial Advisors, author of their popular blog, as well as an active member of the FinTwit community. His power lifting hobby and contrarian nature permeate his writing and investment philosophy, which made for a grea...
Apr 27, 2021•1 hr 23 min•Ep. 75
Investors are often prone to “home-country” equity bias and other heuristics that leave them under-exposed to the world’s many diverse opportunities. We discuss: The importance of global asset class diversity Ray Dalio and the “All Weather Portfolio” Making portfolios resistant to inflation and growth shocks Hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global.
Apr 21, 2021•16 min
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global. Although most of us like to think that we will rise to the occasion when the moment comes, various studies show that the vast majority of people will sink to the level of their training in the heat of battle. A systematic response to dynamic scenarios, removing one’s emotions from the equation, h...
Apr 20, 2021•2 hr 39 min•Ep. 74
Philip Tetlock’s research on the qualities of Super-forecasters explains why forecasting is hard and how diverse models and systematic thinking can help close the gap. We discuss: Improving predictions by regularly updating data The Brier Score and why it really matters Why larger samples permit more accurate short term predictions The difficulties with the “Long Now” narrative Hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global....
Apr 14, 2021•26 min
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global. Our guest this week was none other than Ted Seides, host of the popular Capital Allocators podcast. Ted began his career under the tutelage of endowment legend David Swensen at Yale University Investments, then went on to found Protégé Partners, investing and seeding small hedge funds. This caree...
Apr 13, 2021•2 hr 32 min•Ep. 73
Anyone who is responsible for stewarding wealth, from a high net worth person, to a family office, to an investment firm, to a pension plan. We discuss: Long term preservation of wealth for 30, 50, 100 years Building an investment “house” to weather all storms The difference between earning wealth and protecting it long term Clearing the “high confidence” bar Hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global....
Apr 07, 2021•20 min
Interest in crypto assets continues to accelerate, attracting investors from all walks of life and from all over the world. In this episode, we are joined by Raoul Pal, CEO and Founder of Real Vision Group, and Global Macro Investor, and one of the earliest and most enthusiastic exponents of the crypto-asset space. Raoul has many years of hands-on experience in both global macro and crypto assets, and offers critical insights on where investors should focus to maximize profits in both the near a...
Apr 01, 2021•1 hr 1 min•Ep. 71
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. “Drink once every time someone says "rebalancing", twice for "geometric", thrice for "ergodicity". Leverage these amounts by 2.7x for the full Kelly experience”. This was the opening salvo from our guest, the once anonymous author of the popular Breaking the Market Blog, now revealed as Matt Hollerbach (founder of Pronghorn Analytics). With a background in mechanical engin...
Mar 30, 2021•2 hr 36 min•Ep. 70
In this episode, we are joined by Michele Wucker, author of the international bestseller “The Gray Rhino” and the new book “You Are What You Risk”. She coined the term “gray rhino” for obvious, probable, impactful risks, which we are surprisingly likely but not condemned to neglect. The gray rhino has moved markets, influenced central banks, guided risk managers and business strategy, and made headlines as an important frame for the ignored warnings that let the Covid-19 pandemic get out of cont...
Mar 30, 2021•1 hr 2 min•Ep. 69
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. Interest in cryptoassets, and specifically Bitcoin, has skyrocketed in the last few years. From it’s humble beginnings Bitcoin has grown into a behemoth, leading some to wonder if it will eventually become a contender for the role of global reserve currency. Our guests for this episode were Greg Foss and Magdalena Gronowska, early adopters of Bitcoin and part of the team t...
Mar 23, 2021•2 hr 13 min•Ep. 70
This is ReSolve Riffs – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. As governments in the U.S, Europe, Japan and elsewhere embrace aggressive fiscal stimulus measures in the wake of the global Coronavirus pandemic, investors are growing concerned that this may unleash a sustained inflationary impulse. As investors dust off their inflationary market playbooks, many are realizing portfolios may need to be significantly restructured. This week Re...
Mar 16, 2021•2 hr 35 min•Ep. 68
This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day. In 1971, US president Nixon suspended the convertibility of the dollar to gold bullion, terminating what was known as the Bretton Woods system, which also kept other major currencies pegged to the greenback at a fixed exchange rate. Since then, the US dollar has experienced three major cycles of appreciation followed by weakening, all of which have greatly impacted asset p...
Mar 09, 2021•2 hr 33 min•Ep. 67
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•2 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•2 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•2 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-host o...
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•2 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•2 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
