Orion's The Weighing Machine

Inflation is a term that has been on everyone's lips recently. For investors and policymakers alike, staying on top of the latest trends in the inflation market is essential for making informed decisions about their investments and financial strategies. In this episode, Rusty and Robyn talk with Michael Ashton, a.k.a. The Inflation Guy. Michael, Managing Principal at Enduring Investments, is one of the pioneers in U.S. inflation market innovation. Since 2003, Michael has played a role in developing the U.S. inflation derivatives markets and is a subject matter expert on inflation products and inflation trading. Before founding Enduring Investments, Michael worked in research, sales, and trading for several large investment banks, including Bankers Trust, Barclays Capital, and J.P. Morgan.Michael talks with Rusty and Robyn about inflation and economics from a trader's seat. He speaks about his inflation outlook, how people should think and respond to inflation, and what makes a good trader.Key Takeaways [03:32] - An overview of Michael's professional history. [05:36] - What Michael says about the current inflation environment. [06:43] - Michael's outlook for inflation for the rest of the year. [10:49] - How people should think about inflation. [11:28] - What Michael has to say about the Fed's efforts to combat inflation. [13:44] - Why the markets are more optimistic about inflation dropping right now. [16:08] - Michael's outlook on interest rates, stocks, and real assets. [19:38] - What the government debt levels mean for the economy and the markets. [24:39] - How investors should manage their portfolios in an inflationary environment. [28:57] - How investors and advisors should think about high-frequency economic data.  [31:05] - Michael's approach to using consensus expectations and surveys. [35:53] - What Michael meant when he said boredom is winning. [37:51] - How AI is going to change investing. [41:56] - What Michael advises people about consuming content. [45:05] - Michael's favorite investment idea. [47:06] - How Michael maintains his energy to perform at his best. Quotes[06:17] - "The inflation derivatives markets are pricing in that inflation would reach two and a quarter by June, and that's just not going to happen. Core inflation and median inflation will take a long time to get back to any semblance of what we thought and what used to be normal. And when I say a long time, I mean years." ~ Michael Ashton[10:50] - "The debate coming into this year wasn't whether inflation would decline as much as the market thought. The question was, when does everyone realize that inflation won't be 2% by the middle of the year?" ~ Michael Ashton[24:55] - "One of the things that happen when you get to higher inflation, in addition to having more volatile inflation, is all of the financial variables get more volatile. You need to diversify more than you otherwise would have in real assets, particularly commodities." ~ Michael AshtonLinks  Michael Ashton on LinkedIn Michael Ashton on Twitter Enduring Investments Cents and Sensibility: The Inflation Guy Podcast Lampshades on Fire by Modest Mouse J.P. Morgan Barclays Corporate and Investment Bank Deutsche Bank John Huston Trinity University The Magnus Archives Inflation Guy Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0584-OPS-2/23/2023

Succession planning is essential for any organization to ensure its long-term sustainability and success. However, creating a successful succession plan is not as simple as identifying potential leaders and hoping for the best. What are the steps that organizations need to take to develop a robust and effective plan? In this episode, Rusty and Robyn talk with Eric Godes, Senior Vice President and Senior Consultant at FP Transitions. Eric has been a pioneer in the wealth management industry. At Fidelity Investments, he helped to launch the first-ever ever home stock trading system. Also, he founded one of the country's first Registered Investment Advisors, Kobren Insight Management. At FP Transitions, Eric works with financial advisory firms across the country to help them reach all their goals, including internal and external solutions.A longtime leader in the wealth management industry, Eric talks with Rusty and Robyn about succession planning and how it works. He also speaks about the foundation of a successful succession plan, the compensation structure, and finding the right partner.Key Takeaways [04:08] - Eric's career history in wealth management and what led him to FP Transitions. [06:58] - An overview of Eric's role at FP Transitions. [08:27] - How Eric defines succession planning. [10:07] - The elements of an internal succession plan. [13:02] - The foundation of a successful succession plan. [14:27] - How a firm's compensation structure impacts an internal succession plan. [15:38] - What advisors should know about synthetic or phantom equity. [17:35] - The qualities to consider when designing a successor team. [19:33] - What good revenue growth looks like in an internal succession plan. [21:30] - The current market drivers for succession planning. [22:48] - The alternatives firms can use if their internal succession plan isn't well-positioned. [23:25] - How advisors can find the right succession planning partner. [27:45] - How consolidators fare in the M&A market. [31:55] - Eric's favorite investment strategy. [33:16] - How Eric maintains his ability to perform at a high level. [34:52] - The people Eric is professionally thankful for. [37:33] - Eric's recommendations for content. Quotes[08:57] - "Succession planning is a thoughtful, well-planned transition from one generation to the next. It doesn't happen at the moment, but it's usually a lengthy process." ~ Eric Godes[13:22] - "A stronger, growing, and thriving business will be more attractive to successors. It's also going to help them afford the succession plan financially." ~ Eric Godes[17:45] - "The first thing most owners would think about is, ‘does my potential successor have the same value set that I have?’ It's hard if you're not thinking similarly about the clients, the business, and what's best about servicing the clients." ~ Eric GodesLinks  Eric Godes on LinkedIn FP Transitions Don't Look Back by Boston Fidelity Investments Charles Schwab TD Ameritrade Pershing E*Trade David Grau Pathstone Seeking the Extraordinary The Colony Group Michael Kitces How I Built This with Guy Raz The Perfect Fit Succession Planning Course Corrections Acquisition Readiness Self-Assessment Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0476-OPS-2/15/2023

When it comes to investing, the stakes are high. One bad decision can mean a loss of money, time, or opportunity. While there are many products and strategies an advisor can access and implement, how can they find the best ones to ensure their clients avoid costly mistakes and maximize their returns? In this episode, Rusty and Robyn talk with Christopher Hart, Head of Investment Due Diligence at Brinker Capital. In his role, Chris oversees all investment products that advisors can use within their client portfolios. These include interviewing managers and talking to analysts to make sure they're doing what they say they will. He is responsible for ensuring the quality of all investment products curated by Orion and Brinker. With over a decade of experience in due diligence in the investment industry, Chris talks with Rusty and Robin about why due diligence is an important step in building an investment portfolio, how to choose a manager or a strategy, and how Orion's due diligence process is different from other firms.Key Takeaways [03:18] - Rusty's review of the market. [06:01] - Chris' professional background and what brought him to Brinker Capital. [08:01] - What it's like to be the head of investment due diligence. [09:02] - Why due diligence is important in building an investment portfolio. [10:53] - Chris and his team's due diligence process. [14:52] - The amount of work Chris and his team put into due diligence. [17:09] - The time it takes for a new strategy to become available to investors and advisors. [18:03] - The qualities Chris looks for in an investment manager. [21:38] - What a successful investment strategy looks like. [23:32] - What causes an investment strategy to be removed from the platform. [25:55] - How Chris' due diligence process differs from other investment firms. [28:22] - The five P’s of due diligence. [30:41] - How due diligence has evolved over time. [33:22] - What investors and financial advisors look for in a due diligence manager. [35:13] - What Chris looks for in an analyst. [38:01] - The person who influenced Chris' investment philosophy. [39:33] - Chris' favorite investment strategy. [41:23] - How Chris maintains his physical and mental health to perform well. [43:02] - The people Chris is professionally grateful to. [45:14] - Chris' recommendations for content. Quotes[09:36] - "There are so many products out there for advisors to access, and they could spend all day looking at them, reading about them, and trying to figure out which is the best to use in portfolios for their clients. Our job is to filter that universe and bring that universe down to a manageable number." ~ Christopher Hart[10:15] - "Time is everyone's most precious commodity. Anything we can do to save advisors time and help them deliver better client outcomes is the central tenet of what we're trying to accomplish." ~ Christopher Hart[27:25] - "Many due diligence firms will pass along fact sheets, pitchbooks, and explainers of how a particular manager does what they do. What a lot of firms are lighter on is opinion around whether they think what those firms are doing is good or bad. And we make a conscious effort to weave that opinion in our guiding star reports." ~ Christopher HartLinks  Christopher Hart on LinkedIn Brinker Capital Sweet Child O' Mine by Guns N' Roses River Road Asset Management The London Company Jeremy Siegel Stocks for the Long Run The Future for Investors A Wealth of Common Sense Ben Carlson Mutual Fund Observer Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0482-OPS-2/15/2023

Exchange-traded funds, or ETFs, have become increasingly popular as investors look for a simple, diversified, and cost-effective approach to investing. While ETFs provide a convenient way for investors to gain exposure to a wide range of assets, in what direction is the ETF market headed in the future?In this episode, Rusty and Robyn talk with Eric Biegeleisen, Partner and Deputy Chief Investment Officer at 3EDGE Asset Management. In his role, Eric is responsible for the research operations at 3EDGE. His research focuses on discovering and exploring the interconnectedness of global capital markets through quantitative and qualitative analyses. Under Eric's leadership, 3EDGE has significantly enhanced its proprietary global capital markets model.Having a goal to steward 3EDGE's relationships with ETF managers to help bring new products to market, Eric talks with Rusty and Robyn about the ins and outs of exchange-traded funds (ETFs), the projected growth, and how they stand up against direct indexing. Eric also shares some of the opportunities ETF offers in the investment industry.Key Takeaways [02:59] - Eric's path to becoming 3EDGE Asset Management's Deputy Chief Investment Officer. [04:29] - How 3EDGE Asset Management serves private and institutional clients. [07:15] - How 3EDGE Asset Management constructs portfolios. [09:14] - What makes 3EDGE different from its competitors and peers. [10:28] - Eric's outlook on exchange-traded funds (ETFs). [11:32] - The pros and cons of investing in ETFs. [12:32] - How 3EDGE can compete against the big proprietary ETF providers. [15:01] - Eric's take on direct indexing being a threat to ETFs. [16:05] - The 3EDGE view on the stock market for 2023. [19:10] - Eric's tactical strategies for international equity. [21:57] - The strategy Eric uses to diversify assets. [25:11] - One of Eric's favorite investment strategies. [26:11] - How Eric maintains his energy and ability to perform at a high level. [27:11] - The people Eric is grateful for professionally. [28:36] - Eric's recommendation for content. Quotes[07:42] - "Behaviorally, investors can act as a herd, whether in a virtuous or vicious way. We need these behavioral factors to identify the real short-term potential changes." ~ Eric Biegeleisen[10:49] - "The ETF space continues to grow as it siphons off assets from other wrappers and large mutual funds. As new money folds in as it's gotten even larger, institutional dollars roll in." ~ Eric Biegeleisen[11:39] - "The pros (of ETFs) are a long list: transparent, low cost, tax efficient. There are over 1,700 listed ETFs in the U.S. alone, so there are exposures to nearly everything one would want." ~ Eric BiegeleisenLinks  Eric Biegeleisen on LinkedIn Eric Biegeleisen on Twitter 3EDGE Asset Management Thunderstruck by AC/DC Stephen Cucchiaro Charles Schwab Windhaven Investment Management BlackRock Vanguard State Street Global Advisors Bob Phillips The Peter Attia Drive Podcast The Dawn of Everything: A New History of Humanity Never Finished: Unshackle Your Mind and Win the War Within Think Again: The Power of Knowing What You Don't Know Power and Prediction: The Disruptive Economics of Artificial Intelligence The Origin of Wealth Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0141-OPS-1/19/2023

Direct indexing is becoming one of the fastest-growing strategies in wealth management. This strategy involves creating and maintaining a portfolio that tracks the constituents of a benchmark index, such as the S&P 500. As direct indexing allows investors to customize and tailor their portfolios around specific investment interests and weight holdings according to their preferences, the trend of financial firms acquiring fintech platforms for their direct indexing technology is on the rise.In this episode, Rusty and Robyn talk with Art Lutschaunig, Co-Founder and CEO at Parti Pris Investment Partners. Art brings almost 40 years of financial industry experience to his position at Parti Pris. In his leadership role, Art calls upon his extensive experience and expertise in designing, building, and implementing large-scale wealth management organizations, services, and products to drive the development of Parti Pris’ services dedicated to portfolio personalization on behalf of financial advisors.Art talks with Rusty and Robyn about what financial advisors and investors need to know about direct indexing, the future of fintech and managed accounts, and his outlook on the current market.Key Takeaways [04:47] - How Art got started in the financial services industry.  [13:38] - The story behind the name Parti Pris Investment Partners. [15:35] - What financial advisors and investors need to know about direct indexing. [20:21] - Why the advisory community favors direct indexing strategies. [26:05] - How technology simplifies portfolio management for advisors. [32:46] - How the managed account business can be improved. [37:44] - The qualities Art is looking for when hiring people. [42:34] - Art's advice for people thinking about starting their own business. [45:16] - What Art thinks about the current market. [51:41] - How Art maintains his physical and mental health to perform at his best. [55:33] - The people Art is professionally thankful for. [59:17] - Art's recommendations for content. Quotes[27:43] - "We're driving technology to simplify the complex for the advisor. And Orion is one of the fintech firms creating lots of technology to provide seamless integration and simplify the advisor's ability to run a practice and a portfolio."  ~ Art Lutschaunig [29:08] - "Our technology is getting to the point where we can acquire data, manage data, create security and data, create information out of data, and integrate across multiple constituent parts to offer a better, more simplified way for an advisor to implement their portfolios and practices." ~ Art Lutschaunig[41:54] - "Every time you look at a problem, flip the pancake. When you run into a problem, turn it upside down and see if the answer is on the other side of the pancake.  ~ Art LutschaunigLinks  Art Lutschaunig on LinkedIn Parti Pris Investment Partners I'm Comin' Home by Robert Earl Keen Bill Eigen Fidelity Investments Morningstar Russell Investments Washington University in St. Louis Fidelity Advisor Funds and Strategic Advisers Funds CLS Investments Aperio Group Vanguard Joe Smith When Things Fall Apart: Heart Advice for Difficult Times The Soul of A New Machine Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2472-OPS-12/21/2022

In today's economy, investors face both challenges and opportunities. With global events, changing interest rates, and market volatility impacting the investment landscape, it's more important than ever to stay informed and educated on the industry's most pressing issues.In this episode, Rusty and Robyn talk with Paula Wieck, Vice President and Senior Portfolio Manager at Commerce Trust Company. In her role, Paula comprehensively represents the firm's research and goals-based investment process, from initial assessment and creation of an investment objective to ongoing evaluation and adjustments based on changing market and life circumstances. She serves clients with thought leadership, insight, and consulting services.With knowledge of the market and experience in investment management, Paula answers some of the toughest issues in the investment industry today. These include questions about why investors should invest in the stock market despite the recession just around the corner, why rising interest rates are good for investors moving forward, and how to communicate effectively with clients.Key Takeaways [03:34] - Paula's journey to becoming a vice president and senior portfolio manager. [05:06] - Commerce Trust Company's investment philosophy. [05:59] - Paula's economic outlook. [07:32] - What Paula's typical day looks like. [09:14] - How client communication for investment managers has changed over time. [12:00] - Paula's favorite approach to communicating with clients. [14:27] - Paula's thoughts on what makes a good advisor. [16:32] - The qualities that make a good client. [17:26] - The advice Paula gives to people interested in becoming investment professionals. [21:52] - How women can accelerate their involvement in the investment industry. [24:07] - Why people should invest in the stock market during a recession. [27:40] - Why bonds fail to protect investors in a bear market for equities. [32:17] - Why rising interest rates are good for investors moving forward. [33:55] - Paula's investment strategy for clients who fear entering the market. [35:59] - Paula's favorite investment idea. [36:49] - How Paula maintains her energy and ability to perform at a high level. [38:11] - Some of the people Paula is grateful to professionally. [41:01] - Paula's recommendations for content. Quotes[17:51] - "Always stay eager and hungry to learn, and never feel like a project or task is below you. Always look for ways to make things more efficient." ~ Paula Wieck[26:58] - "It's impossible for people to time the market precisely on both sides very well. So you hurt your returns over the long term by missing those best days that are close to the worst days. Stay invested." ~ Paula Wieck[33:24] - "Our projections show that the loss we experienced in bonds will recoup around the end of 2025 or early 2026, just from the reinvestment. The older bonds with lower yields will be able to be reinvested in bonds with much higher yields, and that'll be beneficial and be a good time for conservative investors again." ~ Paula WieckLinks  Paula Wieck on LinkedIn Commerce Trust Company Lose Yourself by Eminem CLS Investments J. P. Morgan Morgan Stanley Is market timing worth it during periods of intense volatility? | J.P. Morgan Asset Management Compelling People: The Hidden Qualities That Make Us Influential Presence: Bringing Your Boldest Self to Your Biggest Challenges Tim Michel Thomas "Buzz" Willard The Psychology of Money Atomic Habits Tiny Habits A Wealth of Common Sense Animal Spirits Podcast Weighing the Risks Podcast Standard Deviations with Dr. Daniel Crosby Can't Hurt Me: Master Your Mind and Defy the Odds Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0116-OPS-1/17/2023

As we move into 2023, the global economy remains in flux. Despite some signs of recovery, uncertainty continues to dominate the financial markets, and investors are increasingly looking for a safe haven to protect their money. What are some of the investment strategies that can help investors manage risk and maximize returns?In this episode, Rusty and Robyn talk with Stanley Sattler, Director of Investment Solutions at Belle Haven Investments. In his role, Stanley is responsible for operating as a liaison between the investment team and Belle Haven's strategic partners. His primary duties are business development through supporting advisors and consultants across the country. Stanley is motivated by learning about clients' needs and wants to help ensure that their investments receive the attention they deserve.As a fixed-income expert, Stanley talks with Rusty and Robyn about what's in store for bonds and the fixed-income market in 2023, his outlook for bonds, Fed policy, and interest rates, and why municipal bonds are a unique investment opportunity.Key Takeaways [02:59] - Stanley's journey to becoming an investment solutions director. [03:47] - What Belle Haven does for its clients. [04:59] - Belle Haven's outlook on inflation. [06:38] - Stanley's perspective on how the Fed deals with interest rates. [09:21] - What Stanley thinks about the current recession risk. [13:57] - Belle Haven's view of municipal bonds. [17:17] - Why municipal bonds are a unique investment opportunity. [20:19] - Other fixed-income markets Stanley is interested in. [21:11] - Stanley's favorite investment strategy. [22:49] - How Stanley maintains his physical and mental health to perform at his best. [24:15] - The people Stanley is grateful to professionally. [25:52] - Stanley's recommendation for content. [28:36] - The best time to invest in fixed-income funds and laddered portfolios. Quotes[10:12] - "Recession probability is high to significantly high this calendar year, but it's just a scary word that's frowned upon. Recession is a natural part of the business cycle and a natural part of investing over long periods to grow and preserve wealth." ~ Stanley Sattler[15:19] - "For investors looking for a place to step out a few years on the yield curve and get incremental income and yield, you can do that in the municipal marketplace because the municipal bond space is 80+ percent individual investor driven." ~ Stanley Sattler[25:21] - "It's exciting to be involved and learn from a culture of entrepreneurship and service and putting the client first rather than what you typically see in the industry where ego or selfishness is involved." ~ Stanley SattlerLinks  Stanley Sattler on LinkedIn Belle Haven Investments Eye of the Tiger Fidelity Investments The Handbook of Fixed Income Securities Belle Haven Email Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0073-OPS-1/11/2023

Investing in the stock market can be tricky. With so many different strategies available, it can be difficult to know where to start. Considering the current rollercoaster scenario in the market, how can investors make informed decisions about buying and selling assets and maximize their returns?In this episode, Rusty and Robyn talk with David Lundgren, Founder and Chief Market Strategist at MOTR Capital Management and Research. David is a 30-year investment industry veteran focusing on technical analysis strategies, particularly momentum and trend following. He is the former Director of Technical Research at Wellington Management and held senior analyst positions at Fidelity & Thomson Financial.With a demonstrated history of working in the investment management industry, David talks about technical analysis, momentum and trend following, and his outlook for stocks, bonds, cryptocurrencies, and commodities for 2023.Key Takeaways [04:29] - David's career history in the investment management industry. [07:54] - How David defines technical analysis. [10:48] - What it takes to be a successful technical analyst. [12:21] - The strengths and weaknesses of technical analysis. [14:45] - The different schools of thought in technical analysis. [17:11] - What to do when trend following fails. [19:42] - The best allocation of trend following and technical analysis in a portfolio. [23:41] - How a CMT differs from a CFA. [26:09] - What is the CMT Association? [27:21] - A sneak peek at this year's CMT Symposium. [28:57] - The top charts to watch in 2023. [31:38] - How David's multiframework approach works. [33:06] - Among David's favorite equity stocks for 2023. [35:48] - David's outlook for the bond market. [39:27] - What Dave thinks about bitcoin and cryptocurrencies. [43:13] - David's favorite investment idea for 2023. [45:25] - How David maintains his energy to perform at a high level. [47:31] - The people David is thankful for professionally. [49:07] - David's recommendations for content. Quotes[08:18] - "Most money managers are schooled in the principles of fundamental analysis, capital asset pricing theory, dividend discount models, and other traditional fundamental analysis techniques. Unfortunately, almost 90% of active managers underperform their benchmark using the tools they learn in business school." ~ David Lundgren[09:30] - "The market is the best fundamental analyst on the planet. Listen to what the market's trying to tell. And the best way to do that is to identify trend change and stay with the trend as long as the trend changes and goes in the other direction." ~ David Lundgren[26:58] - "There's a big hole in the body of knowledge of most investors, which contributes to their difficulty in keeping pace with the benchmark. That hole can be filled with a better understanding of technical analysis." ~ David LundgrenLinks  David Lundgren on LinkedIn David Lundgren on Twitter MOTR Capital Management & Research Charting My Interruption Tick Tick Boom by The Hives Fidelity Investments Wellington Management Fill The Gap Podcast CMT Association The 2023 Annual Symposium Ralph Acampora Reminiscences of a Stock Operator How I Made $2,000,000 in the Stock Market Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies The Art of Execution: How the World’s Best Investors Get It Wrong and Still Make Millions No One Would Listen: A True Financial Thriller Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0032-OPS-1/6/2023

Sustainable investing has gained significant traction as more investors integrate environmental, social, and governance (ESG) factors into their investment decision-making process. Although there are many different sustainable investing strategies that investors can choose from, they are all intended to generate long-term financial returns while creating a positive impact on society and the environment.In this episode, Rusty and Robyn talk with Venk Reddy, Chief Investment Officer of Sustainable Credit at Osterweis Capital Management. Venk joined Osterweis Capital Management in 2022 as part of the Zeo Capital Advisors team transition, where he brings knowledge and experience in credit investing and absolute return investing. Also a portfolio manager for sustainable credit strategies, Venk talks with Rusty and Robyn about what sustainable investing means, how sustainable credit differs from green bonds, and what catalysts could make sustainable investments a hit.Key Takeaways [01:06] - The top things to watch in 2023. [02:45] - What brought Venk to Osterweis. [04:48] - What sustainable investing means. [07:12] - How sustainable credit differs from green bonds. [10:38] - Venk's insights into the future growth of the ESG market. [12:30] - How investors should allocate their funds to ESG investments. [14:12] - The catalysts that could make sustainable investments a hit. [19:42] - Venk's outlook on interest rates and sustainable income. [27:44] - One of Venk's favorite investments. [29:47] - How Venk maintains his physical and mental health to perform at a high level. [32:27] - What Venk has to say about the people he works with. [34:16] - Content recommendations from Venk. Quotes[06:41] - "Our goal is to align performance and progress. But to align performance and progress, you need a situation in which the investments you're making are truly impacted by the management team's decision to make more progress and improve their standing along the categories of risk that they have." ~ Venk Reddy[12:17] - "The more investors focus on ESG as a risk, the larger that market becomes. Not because the market's getting bigger but because people realize that this approach is as appropriate for traditional portfolios as it is for mission-driven ones." ~ Venk Reddy[18:02] - "Security selection matters when people think it matters, and risk is a long-term concept. Once we get to a place where that's the discussion around ESG, risks, and sustainability, the market will grow substantially." ~ Venk Reddy Links  Venk Reddy on LinkedIn Osterweis Capital Management It's The End Of The World As We Know It (And I Feel Fine) Zeo Capital Advisors Carl Kaufman Howard Marks Michaels Stores The Intelligent Investor by Benjamin Graham Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Mindset: The New Psychology of Success Blindspot: Hidden Biases of Good People Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0034-OPS-1/6/2023

It’s that time of year again! Investors and market analysts are looking ahead to the coming year, and 2023 is shaping up to be an exciting year for the economy. Looking ahead, what factors will likely shape the market, and how can advisors utilize them to their advantage?In this episode, Rusty and Robyn talk with Kim Arthur, President and CEO of Main Management, LLC. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida. He has been profiled in Index Universe articles and referenced in Barron’s, Wall Street Journal, Business Week, and Fortune Magazine. Kim talks with Rusty and Robyn about his outlook on inflation, the U.S. economy and corporate earnings, and the U.S. and international markets. As a portfolio manager, Kim also speaks about how investors should allocate their funds to international stocks and what advice he gives to investors in times of geopolitical crisis.Key Takeaways [03:24] - Kim's role at Main Management and what the firm is all about. [05:39] - Main Management's outlook on inflation. [07:20] - How investors should treat their bond allocations. [08:47] - Kim's outlook for the U.S. economy and corporate earnings. [11:01] - Kim's views on the U.S. and non-U.S. stock markets. [18:35] - How investors should allocate their funds to international stocks. [20:36] - Kim's advice to investors in times of geopolitical crisis. [22:40] - Kim's favorite investment strategy. [24:55] - A regimen that keeps Kim on top of his game. [26:57] - The people Kim is grateful to professionally. [28:42] - Kim's recommendation for content. Quotes[15:52] - "The U.S. dollar is the number one predictor of the international stock market outperforming the U.S. stock market. So if you're in a strong U.S. dollar environment, no matter how much you stomp your feet and want the U.S. market to underperform, it will not." ~ Kim Arthur[21:26] - "Investors need to realize that when geopolitical crises happen, you want to be putting money into the market because almost 12 or 24 months later, you're up significantly from those periods when they went down. It shows the tenacity and the growth mindset of the globe that when these things happen, everybody gets together and works to find a solution to that problem." ~ Kim Arthur[22:10] - "In the equity market, fear is temporary, and greed is permanent." ~ Kim ArthurLinks  Kim Arthur on LinkedIn Main Management Main Management on Twitter Zombie (Miley Cyrus Rendition) Howard Marks Breath: The New Science of a Lost Art Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2450-OPS-12/19/2022