Peter Cecchini, founder and CEO of AlphaOmega Advisors, discusses the crazy year that was 2020 in markets, and gives his outlook for what’s to come. Topics include efficacy of the Federal Reserve, a boom in retail investor trading and zombie companies. Mentioned in this podcast: Day Traders Put Stamp on Market With Unprecedented Stock Frenzy Sustainability SPAC Queen's Gambit Growth Capital files for a $225 million IPO See omnystudio.com/listener for privacy information....
Jan 01, 2021•39 min
Anastasia Amoroso, head of thematic strategy at J.P. Morgan Private Bank, discuss emerging investing themes, including deploying leverage in credit-market investments. She also discusses the outlook for green energy, and other top themes her team is advising. Mentioned in this podcast: 2020 Has Been a Great Year for Stocks and a Bear Market for Humans See omnystudio.com/listener for privacy information....
Dec 25, 2020•33 min
Danton Goei, who runs global investment strategies at Davis Funds, discusses what opportunities he's seeing around the world as the end of the coronavirus pandemic comes into sight. Yes, it’s a frothy market in the U.S., he says, but there are still opportunities in America and abroad. Mentioned in this podcast: Trading at 369% Premium, New Crypto Fund Astounds Even Bulls Soaring Stock Valuations No Big Deal to Powell Next to Bonds See omnystudio.com/listener for privacy information....
Dec 18, 2020•32 min
In the wake of Covid-19, corporations this year issued trillions of dollars of debt to make it through. Now, according to Josh Lohmeier, head of North American investment-grade credit at Aviva Investors, the big question for next year is: What should and will they do with all that cash? See omnystudio.com/listener for privacy information.
Dec 11, 2020•40 min
The recent rotation in the equity market has made the once no-brainer decision to bet big on big tech a little more complicated. Jacqueline Remmen, senior wealth strategy associate at UBS Private Wealth Management, discusses how she’s advising clients what to expect in the next phase of the market. Mentioned in this podcast: Tesla’s S&P 500 Entry Takes Away Secret Weapon for Stock Pickers The Bull Market Rotates Away From Tech-Driven Mega-Companies See omnystudio.com/listener for privacy inf...
Dec 04, 2020•27 min
Randy Dishmon doesn't care much for investment strategies based on lumping stocks into boxes with labels like growth and value. The manager of the Invesco Global Focus Fund, which has returned 46% this year and consistently ranks in the top 1% of similar funds, joins the podcast to discuss how he approaches investing and the recent rotation in equities. Mentioned in this podcast: ‘Very, Very Busy Week’ Wipes Out Traders’ Usual Holiday Doldrums Chaos in Factor Land Puts Quants on Hunt for Acciden...
Nov 27, 2020•36 min
Barely-there yields in the bond market have led to a search for other strategies to diversify portfolios with assets that will cushion the blow from any future drop in stocks. Peter van Dooijeweert, managing director of multi-asset solutions at Man Solutions, a division of hedge-fund firm Man Group, joined the latest episode of the “What Goes Up” podcast and talked about some possible alternatives. Mentioned in this podcast: In New 60/40 Portfolio, Riskier Hedges Are Displacing U.S. Debt | Got L...
Nov 20, 2020•34 min
Promising results in a coronavirus vaccine test triggered a wild rotation in the stock market this week. Lauren Goodwin, economist and strategist at New York Life Investments, joins the latest episode of the “What Goes Up” podcast to discuss the opportunities and pitfalls for investors looking to position for a post-Covid world. Mentioned in this podcast: These Charts Show the Euphoria the Pfizer Vaccine News Created Rotation Trade Turns to Duck-and-Cover as Coronavirus Runs Amok See omnystudio....
Nov 13, 2020•29 min
Many investors, like most Americans, have been fixated on the political drama of this year’s presidential election. But when it comes to picking stocks, Jamie Cuellar has kept his eye on the longer term. He’s the manager of the Buffalo Small Cap Fund, which has outperformed 99% of peers in 2020 as well as over the past one, three and five years, according to data compiled by Bloomberg. Cuellar joins the latest episode of the “What Goes Up” podcast to discuss the election, his fund’s strategy, an...
Nov 06, 2020•33 min
The velocity of money is an attempt to estimate the average number of times a dollar changes hands. It crashed to record lows during the pandemic as the savings rate surged. But it had been trending downward for more than two decades prior to that. Adrian Helfert, a fund manager at Westwood Holdings, discusses what it means for markets. He also talks about how he and investors are positioned for the upcoming election and other hot financial topics. Mentioned in this podcast: Investor Bill Gross ...
Oct 30, 2020•37 min
The dollar has been in a slump against major currencies in the last few months, and betting on more declines has become a popular trade. Wells Fargo macro strategist Zachary Griffiths discusses how the election results could interrupt or continue the trend. Mentioned in this podcast: Robinhood’s Addictive App Made Trading a Pandemic Pastime Banks Brace for ‘Big Bang’ Switch on $80 Trillion Worth of Swaps See omnystudio.com/listener for privacy information....
Oct 23, 2020•42 min
The shift to commission-free trading and the stay-at-home environment of 2020 helped usher a new army of day traders into the stock and equity-options markets. How will this influential cohort affect markets now that they account for a share of volume that rivals hedge funds? Liz Ann Sonders, chief investment strategist at Charles Schwab, discusses this, the upcoming elections, and other market topics. Mentioned in this podcast: Mysterious Mega-Flows Rotate Through World’s Biggest Tech ETF Day-T...
Oct 16, 2020•40 min
An antitrust report by Democratic staffers for the House of Representatives this week sent chills down the spine of investors holding shares of the major U.S. technology and internet companies that have driven the bull market. The report signals the likelihood of heightened regulatory scrutiny over these companies, especially if Democrats win the White House and both chambers of Congress in the November elections in a so-called “blue wave.” Max Gokhman, head of asset allocation at Pacific Life F...
Oct 09, 2020•32 min
A stock market that sometimes seems bulletproof in the face of adversity can make it challenging for hedge funds looking for companies to sell short in anticipation of share-price declines. Ben Axler of the activist fund Spruce Point Capital Management discusses where he’s looking for opportunities, including in special-purpose acquisition companies. Mentioned in this podcast: Blistering IPO Market Is Rekindling Dot-Com Era Froth Fears The Tiny Activist Fund That Reaped 24% Return by Unearthing ...
Oct 02, 2020•39 min
Warren Buffett has referred to the massive cash pile at his company Berkshire Hathaway Inc. as his “elephant gun,” meaning he’s always on the prowl for an opportunity to shoot large sums of money at a big acquisition or investment. While he made a few deals this year as the Covid-19 pandemic roiled markets, he hasn’t been quite as active as he was during the global financial crisis more than a decade ago. Why is that? Joining this week to discuss why is Larry Pitkowsky, co-managing partner at Go...
Sep 25, 2020•37 min
An explosion of trading in equity options among day-traders is suspected of helping to fuel the rally in U.S. stocks this summer. Chris Murphy, co-head of derivatives strategy at Susquehanna International Group, joins this week’s episode of the “What Goes Up” podcast to explain what happened. Mentioned in this podcast: The Wild Summer of 2020 Turned Small Investors Into Whales Reddit's Stock Threads Become a Must-Read on Wall Street See omnystudio.com/listener for privacy information....
Sep 18, 2020•35 min
The selloff in high-flying technology stocks continued this week after a breathtaking rally over the previous five months. Is the bubbling bursting, or is this just a minor setback for the perennial darlings of the market? Seema Shah, chief strategist at Principal Global Investors in London, discusses this and other important issues for the stock market. Mentioned in this podcast: A Week Like This Was a Long Time Coming for Day-Trader Faithful Options Traders Whipped Up Stock Boom With SoftBank ...
Sep 11, 2020•35 min
The U.S. stock market’s melt-up seems to have ended in spectacular fashion this week, and now many on Wall Street are turning their attention to the election in November as a potential source of risk. Nela Richardson, senior investment strategist at Edward Jones, shares her take on this week’s market action and what to expect in November. Mentioned in this podcast: Low Rates Lead Investors to Look Beyond the Classic 60/40 Mix Volatility Markets Brace for Election Drama Like Never Before Mystery ...
Sep 04, 2020•29 min
Politics has become one of the most-important drivers in markets and this year’s U.S. presidential election is shaping up to be the main focus of traders and investors in all asset classes. Naufal Sanaullah, chief macro strategist at hedge fund EIA All Weather Alpha Partners, discusses how he’s thinking about the market implications of the race. Mentioned in this podcast: Volatility Markets Brace for Election Drama Like Never Before Notorious B.I.G.’s Plastic Crown May Fetch $300,000 at Sotheby’...
Aug 28, 2020•31 min
Campbell Harvey, finance professor at Duke University and a senior adviser at Research Affiliates, is well known for his research on the yield curve as a recession indicator. While no one could have possibly predicted the cause of this recession – a global pandemic – it’s still true that an inverted yield curve once again predicted an economic downturn. Harvey joins the latest episode of “What Goes Up” to discuss what the bond market is signaling now, along with his new paper on gold. Mentioned ...
Aug 21, 2020•32 min
Robert Hormats, who has worked in senior economic and trade policy roles under five different U.S. presidents and spent 25 years at Goldman Sachs Group Inc., believes the Covid-19 pandemic has forced the government to embark on what could be considered an involuntary experiment with Modern Monetary Theory. Now a managing director at wealth-advisor Tiedemann Advisors, Hormats discusses MMT, the U.S.-China relationship, prospects for a coronavirus vaccine – and how investors should think about all...
Aug 14, 2020•31 min
At the benchmark level, equity levels by many measures look stretched. But Katie Koch, co-head of fundamental equity at Goldman Sachs Asset Management, says there’s plenty of areas within the stock market that offer good value for investors right now. She discusses which industries and companies she likes, including a couple that have been ravaged by the coronavirus like restaurants and retail. Mentioned in this podcast: How a Goldman Sachs Manager Is Preparing For a Post-Covid World See omnystu...
Aug 07, 2020•34 min
Lee Ferridge, head of North America macro strategy for State Street Global Markets, has been bullish on gold since late 2018, when an attempt at quantitative tightening by the Federal Reserve sent markets into a tailspin. From that moment, he knew the central bank’s balance sheet would only grow larger, a boon for real assets like gold. Now, the precious metal is smashing records, beating both stocks and bonds in 2020. Mentioned in this podcast: Kodak Pivots to Drugs After Abandoning Photography...
Jul 31, 2020•36 min
Rob Arnott, chairman and co-founder of Research Affiliates, has spent a lot of time studying market bubbles. He shares what he’s learned, and give his takeaways about the current environment for investors. Mentioned in this podcast: Rob Arnott Says It’s Insanely Stupid to Chase Market Bubbles U.S. Stock Market Bull Run In Recession Makes Investors Anxious Yes. It's a Bubble. So What? See omnystudio.com/listener for privacy information....
Jul 24, 2020•37 min
The killers of Berta Caceres had every reason to believe they’d get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no one had been punished for the crimes. Bloomberg’s Blood River follows a four-year quest to find her killers – a twisting trail that leads into the country’s circles of power. Blood River premieres on July 27. See omnystudio.com/listener for privacy information....
Jul 20, 2020•4 min
Based in Sydney, Australia, David Adams, the chief investment officer at Reminiscent Capital, picked up on funding market stress early on. That helped his firm’s Asia-focused macro strategy implement a multi-step trade that delivered a 16.5% return in the first quarter of 2020. He joins the latest “What Goes Up” podcast to discuss how it worked, and what markets are signaling now. Mentioned in this podcast: Bad Breath Offers a Rare Payoff in Listerine-Royalty Stake Sale Banksy's Covid-19 Warning...
Jul 17, 2020•37 min
The furious rebound in the U.S. equity market over the last few months runs the risk of turning into a "melt-up," according to Wells Fargo strategist Anna Han. She explains what’s driving the surge and why it’s worrying. Mentioned in this podcast: Bleak Message of Economic Pain Underlies Tech’s Market Dominance Tesla Short Shorts See omnystudio.com/listener for privacy information....
Jul 10, 2020•32 min
The U.S. stock market headed into the Fourth of July holiday with a full head of steam after the best quarterly advance since 1998. Yet risks lie ahead this summer. Chief among them is the possibility that Congress will fail to deliver additional fiscal support for the economy as the coronavirus continues to spread, according to Jack Janasiewicz, strategist and portfolio manager at Natixis Investment Managers. Also joining the show is Bloomberg reporter Felice Maranz, who discusses the state of ...
Jul 03, 2020•37 min
It’s a perennial debate among market wonks: when will growth stocks finally stop outperforming value stocks for more than a short period? And what has driven the outperformance? Daniel Davidowitz, co-head of the large-company growth team at Polen Capital Management, offers his take. First, he says, you have to deconstruct the meanings of “growth” and “value.” Mentioned in this podcast: Is Value Dead? Debate Rages Among Quant Greats From Fama to AQR Stocks’ Covid Angst Takes Violent Turn After Si...
Jun 26, 2020•33 min
This year’s volatility in markets has highlighted how investors can protect their portfolios with tail-risk hedging strategies. Meb Faber, co-founder and chief investment officer of Cambria Investment Management, joins this week to discuss the thinking behind his firm’s tail-risk ETF (ticker: TAIL), and offer his thoughts on the state of markets. See omnystudio.com/listener for privacy information.
Jun 19, 2020•34 min
