Orion's The Weighing Machine

The philosophy of stoicism teaches that humans are capable of enduring any hardship by focusing on what is in their control and by accepting the things they cannot change. In the investing world, this means not getting caught up in market noise and instead focusing on the long term. In this episode, Rusty and Robyn talk with William B. Irvine, professor of philosophy at Wright State University and author of several books, including A Guide to A Good Life and The Stoic Challenge. William is an internationally acclaimed author whose work explores philosophy and stoicism.William talks with Rusty and Robyn about the philosophy of stoicism, how it can help investors navigate the market, how it can be applied in everyday life, and how it can help people cope with setbacks.Key Takeaways [02:09] - William's professional background. [05:56] - What made William interested in stoicism. [08:22] - The key principles of stoicism. [11:34] - How negative visualization breeds positive results. [14:13] - How stoic principles can be applied in daily life. [15:41] - What the stoics think about money. [19:22] - How stoicism helps advisors be successful in the long run. [23:43] - How stoicism can help investors cope with losses. [26:06] - The impact of desire on investors. [29:19] - William's advice when it comes to dealing with insults. [31:47] - How stoicism can be used to cope with setbacks. [34:57] - How William maintains his physical and mental health to perform at his best. [41:43] - The impact of William's stoicism on his investments. [43:12] - William's book recommendations on stoicism. Quotes[08:50] - "Focus your attention on the things you can control. Because if you focus your attention on the things you cannot control, you're wasting your time and your emotion." - William B. Irvine[11:50] - "One of the ways to increase the number of positive emotions you experience and to make whatever you're now experiencing vastly more tolerable is to take a moment to think about how things could be worse." - William B. Irvine[19:32] - "Emotions are your biggest enemy and you are your biggest enemy. You are your biggest obstacle to successful investing. And the problem is your emotions are gonna give you all the wrong answers." - William B. Irvine[30:09] - "Insults are just words. It's your response to an insult that does you the harm." - William B. IrvineLinks  William B. Irvine Wright State University Oxford University Press A Guide to A Good Life: The Ancient Art of Stoic Joy A Slap in the Face: Why Insults Hurt — And Why They Shouldn't On Desire: Why We Want What We Want The Stoic Challenge: A Philosopher's Guide to Becoming Tougher, Calmer, and More Resilient Meditations by Marcus Aurelius The Manual: A Philosopher's Guide to Life Waking Up Conversations | Sam Harris Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0856-OPS-5/17/2022

Given rising interest rates, slower economic growth, and geopolitical tensions, it goes without saying that the current market climate is turbulent. As a result, many investors are left wondering how they can still achieve their financial goals. While there is no one silver bullet that can guarantee success in every situation, there are a number of strategies that investors can utilize in order to put themselves in a good position to meet their targets.In today’s episode, Rusty and Robyn talk with Rayna Lesser Hannaway, Head of the Portfolio Manager & Analyst Team, Small Company Growth and Co-Chair of WISE (Women Inspiring Success & Engagement) ERG at Polen Capital Management. In her 26 years in the investment industry, Rayna has developed an investment philosophy that combines growth, quality, concentration, and long-term holding periods. Additionally, she believes that women can thrive in fund management. Thus, empowering and supporting them to succeed in the wealth and investment management arena.Rusty and Robyn talk with Rayna about how investors can meet their financial goals even when the markets are turbulent, what investment strategies they employ at Polen Capital, and Rayna’s advice for investors during this time of market volatility.Key Takeaways [03:58] - Rayna's career background and investment experiences. [05:56] - How Polen Capital inspires women in investment management. [07:36] - How Polen Capital is performing in the current market environment. [09:53] - Four investment strategies that Rayna manages at Polen Capital. [13:52] - Rayna’s advice for investors in today's volatile market. [15:09] - What Rayna looks for in a good research analyst and portfolio manager. [18:05] - Rayna’s personal investment strategy. [19:53] - How Rayna maintains her mental and physical health. [21:56] - Rayna's book and podcast recommendations. Quotes[04:54] - "The most important thing I've learned over my career is that focusing on companies that are built to last is the best way to drive great long-term outcomes, especially in the small and mid-cap market." - Rayna Lesser Hannaway[06:31] - "There actually hasn't been that much progress that's been made in bringing more women and other underrepresented groups into research and portfolio management. And so, at WISE, we're really trying to build a strong community amongst the women and people that identify as women and make sure that we help them on their journey." - Rayna Lesser Hannaway[14:05] - "It's so easy to lose emotional discipline during a time like this. So, I think it's really important for investors to stay focused on the long term and stay focused on companies that can endure some of the obstacles that we're facing today." - Rayna Lesser HannawayLinks  Rayna Lesser Hannaway on LinkedIn High Hopes by Panic! at the Disco Polen Capital Fidelity Investments Golden Seeds Taneka Lawrence Jeff Mueller Jim Collins Great By Choice by Jim Collins Invest Like the Best with Patrick O'Shaughnessy The Knowledge Project with Shane Parrish Huberman Lab Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0861-OPS-5/18/2022

In times of political and economic uncertainty, some investors choose to stay the course, while others take a more tactical approach, seeking opportunities amid market volatility. While there is no one-size-fits-all answer for how investors should invest during uncertain times, there are ways to help navigate the market.In today’s episode, Rusty and Robyn talk with Robert Baker, President of Advanced Asset Management Advisors (AAMA). Prior to founding AAMA, Robert served as Vice President of a large regional investment firm and President of a national advisory group. He founded AAMA in 1998, with the mission of creating a better client investment experience. Today, he remains heavily involved in carrying that vision forward, overseeing the daily management of the company.Robert talks with Rusty and Robyn about why advisors and investors should consider working with smaller, boutique strategist firms, what advisors can do in a volatile market, and why the global debt crisis is alarming.Key Takeaways [02:31] - The history of AAMA. [03:38] - Why advisors should consider working with smaller boutique strategist firms. [06:00] - Some key lessons from Robert’s career. [08:01] - How AAMA deals with inflation. [09:57] - How Robert responds to investors who claim the stock market isn't expensive. [11:11] - Robert’s advice to investors during a volatile market. [12:30] - How investors can prepare for a possible recession. [14:49] - Why global debt is alarming. [15:39] - What is positive about the economy today. [17:42] - How Robert maintains his physical and mental well-being to perform at his best. Quotes[04:04] - "We realized pretty quickly that every strategist would like to have 100% of a portfolio. But in reality, most investors and most advisors are going to be most well served to have their portfolios allocated amongst a couple of diversification control risks. And not all firms can be everything to all clients." - Robert Baker  [04:40] - "We've firmly believed that client expectations and consistencies are a key to positive experiences. So, we like to think that a smaller and a medium-size asset base gives us that flexibility that people can get ahold of us." - Robert Baker[20:12] - "We have the greatest country and the greatest economy in the world. We've weathered a lot of storms at times. It seems like there are so many negatives out there, but you have to look through and look for the positives and you can't overreact to things either way in the marketplace." - Robert Baker Links  Robert Baker on Advanced Asset Management Advisors Robert Baker Email Advanced Asset Management Advisors Papa’s Got A Brand New Bag by James Brown Sizing Up Your Partners – How Smaller, Boutique Strategist Firms Can Give You An Edge Staying Relevant To Clients As Their Expectations Change Spymaster by Brad Thor Aaron Ploscowe Email Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0633-OPS-4/18/2022

Inflation is an enduring economic challenge that has persisted throughout human history. Despite the many efforts of economists and governments to control it, inflation remains a problem. What can advisors do to prepare and protect their investment portfolios?In today’s episode, Rusty and Robyn talk with Michael Ashton, a.k.a. "The Inflation Guy", Managing Principal at Enduring Investments. Michael is recognized as one of the pioneers in U.S. inflation market innovation. Prior to founding Enduring Investments, he worked in research, sales and trading for several large investment banks including Bankers Trust, Barclays Capital, and JP Morgan. As a result of his deep experience and knowledge about inflation and how it impacts markets, Michael is considered the expert to the experts in the world of inflation.Michael talks with Rusty and Robyn about the causes and concerns around inflation, how investors can potentially adjust their investment portfolios in an inflationary environment, as well as his outlook on inflation over the next few years. Key Takeaways [03:20] - An overview of Michael Ashton's professional career. [05:40] - What Enduring Investment has to offer investors. [09:41] - Michael's forecast on inflation over the next few years. [12:46] - How investors can prepare for inflation. [14:19] - The pros and cons of TIPS. [17:00] - Michael's perspective on I Bonds. [19:07] - Can digital assets or cryptocurrencies be used to fight inflation? [21:53] - The best time to purchase a car or to build a house. [28:16] - Michael's outlook on grain prices and food prices. [31:08] - Michael’s forecast on educational inflation. [34:40] - What global debt means for financial portfolios. [39:10] - Why “defend your money” became Michael’s tagline. [45:02] - What makes a good investment manager. [46:41] - How Michael maintains his physical and mental health. Quotes[16:49] - "Inflation exposes securities. That's what regular treasuries are. And TIPS are immune to inflation." - Michael Ashton [18:05] - "If you're a small investor, the first investment you should be making is to take everything and put in into I Series Savings Bonds which have no interest rate risk, have no credit risk, and pay you inflation." - Michael Ashton[30:13] - "Food and energy prices change a lot. They also feedback very quickly on our perceptions of inflation as well. And global food shortages lead to political unrest at home and abroad and further the deglobalization trend that's in process." - Michael Ashton Links  Michael Ashton on LinkedIn Michael Ashton Email Michael Ashton on Twitter Michael Ashton Blog Enduring Investments Red Barchetta by Rush You Can’t Roller Skate In A Buffalo Herd by Roger Miller  Cents and Sensibility:  The Inflation Guy Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0631-OPS-4/18/2022

When it comes to investing, there are many strategies that can be employed to achieve success. One of these is event-driven investing. At its core, this type of investing focuses on capitalizing on idiosyncratic corporate events and taking advantage of catalysts that can move stock prices. In today’s episode, Rusty and Robyn talk with Yoav Sharon, Portfolio Manager at Driehaus Capital Management. Yoav has been in the investment management industry for more than 16 years. Prior to joining Driehaus Capital Management in 2012, he was a senior analyst and trader at Peak6 Investments. In his current role, Yoav is responsible for idea generation, portfolio construction, security selection, and investment research.Yoav talks with Rusty and Robyn about what event-driven investing is, what the three different strategies within event-driven investing are, and how this differs from other alternative investments.Key Takeaways [03:16] - An overview of Yoav’s journey into investment management and what he does at Driehaus Capital Management. [04:17] - What is event-driven investing? [05:22] - The three different strategies within event-driven investing. [09:12] - How Yoav allocates assets based on event-driven investing strategies. [10:59] - What sets event-driven investing apart from other alternative investments. [12:23] - What relative volatility looks like compared to the overall stock market. [14:02] - How investors utilize event-driven investing strategies. [16:05] - Yoav's personal investment strategy. [17:35] - How Yoav put event-driven investing into practice. [20:58] - How M&A has gone so far this year. [22:55] - His views on the future of the credit markets. [26:28] - What makes a good investment manager. [28:27] - How Yoav maintains his physical and mental health to perform at a high level. Quotes[20:32] - "Everything we're doing is trying to laser focus on finding events that are going to unlock value. And during periods of market turbulence, instability, or uncertainty, we tend to really focus even more on hard catalysts and events that are near term in nature so that we can insulate ourselves even more from market turmoil." - Yoav SharonLinks  Yoav Sharon on LinkedIn Driehaus Capital Management Driehaus Capital Management on Twitter Gimme Shelter by The Rolling Stone Kellogg School of Management Northwestern University Nasdaq PEAK6 EconTalk Podcast Dan Carlin’s Hard Core History Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0582-OPS-4/7/2022

Cryptocurrencies and the underlying blockchain technology have exploded in value and popularity at an exponential rate. Despite their rapid growth, many investors remain hesitant to invest in them due to their volatility.In today’s episode, Rusty and Robyn talk with Christopher King, Founder & CEO of Eaglebrook Advisors, a tech-driven investment manager that provides independent financial advisors with streamlined, secure, and compliant access to bitcoin and digital assets.Originally involved in bitcoin and digital assets in 2014, Christopher transitioned into the crypto industry full-time in 2018 as a venture capital investor at Morgan Creek Capital. During this time, he noticed a gap in the market between independent RIAs and digital asset investments. In 2019, he founded Eaglebrook Advisors to bridge the gap between the digital asset market and the wealth management industry.Christopher talks with Rusty and Robyn about why investors should consider adding digital assets to their portfolios, how they are allocated, and his outlook on bitcoin over the next 10 years.Key Takeaways [02:45] - An overview of Chris's career and what inspired him to build Eaglebrook Advisors. [06:26] - How the argument for digital assets has changed over the last year. [12:15] - How investors are allocating to digital asset classes. [14:09] - Chris' investment strategy in digital assets. [17:49] - Chris’ advice for those who are new to the digital asset space. [20:44] - Chris’ view on whether bitcoin is going to become a less risky asset in the future. [22:21] - What prevents some financial advisors from investing in digital assets? [25:04] - Are crypto benefits not as great as people think? [27:13] - Conclusions from “The Bitcoin Market Cycle” report. [30:54] - The impact of rising rates on cryptocurrencies. [33:46] - Takeaways from President Biden's Executive Order on Ensuring Responsible Development of Digital Assets. [34:59] - Chris' outlook on Bitcoin over the next 10 years. [40:47] - Chris’ take on investing in digital asset companies rather than digital assets themselves. [42:25] - What Chris found surprising about digital asset management. [45:16] - How Chris maintains his physical and mental health to perform at his best. Quotes[03:46] - "There was a very small overlap of people that understood how to build secure compliance, scalable investment solutions, and infrastructure in the digital asset world and people that understood wealth management as well." - Christopher King[10:09] - "There's a lot of interesting applications for NFTs, for decentralized finance, for crypto gaming, and for entertainment that a lot of traditional companies and brands are starting to leverage so they can digitize their products and service in a way that both brings value to the company and brings values to the consumer." - Christopher King[35:49] - "I believe that Bitcoin will reach parity with gold because I think it's a better version of gold. There are a lot of generational preferences and transfer of wealth for people that would rather hold Bitcoin portfolios than gold. Us being in a digitally native world, a lot of the wealth is getting transferred to digitally native generations." - Christopher KingLinks  Christopher King on LinkedIn Eaglebrook Advisors Eaglebrook Advisors on LinkedIn Eaglebrook Advisors on Twitter Fortunate Son by Creedence Clearwater Revival Merrill Lynch Orion Advisor Solutions Addepar Fidelity Investments State Street Morgan Stanley Tesla  Goldman Sachs BlackRock BNY Mellon The Bitcoin Market Cycle Coinbase The Bitcoin Standard: The Decentralized Alternative to Central Banking Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond Own The Internet - Not Boring by Packy McCormick On the Brink with Castle Island Ventures Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0566-OPS-4/5/2022

Lobbying is a necessary part of the political process and a powerful tool for organizations and businesses alike. If done correctly, it can be an important investment strategy as well.In today’s episode, Rusty and Robyn talk with Courtney Rosenberger, Managing Director of Policy Research at Strategas Securities, a registered investment advisor specializing in macro thematic investing.In her role, Courtney directs Strategas’ policy research efforts. This involves the construction, maintenance, and analysis of Strategas’ equity portfolios based on public policy themes. Courtney also serves as the lead portfolio analyst for Strategas Asset Management’s widely followed Policy Opportunities Portfolio.Courtney talks with Rusty and Robyn about what the Strategas Policy Opportunities Portfolio is all about, why lobbying can be a powerful investment tool, as well as how to encourage women to pursue careers in investing.Key Takeaways [03:47] - What attracted Courtney to the world of investing. [04:50] - What the Strategas Policy Opportunities Portfolio is about. [08:02] - The dominant themes of Strategas Policy Opportunities Portfolio.  [13:16] - The market environment that best suits lobbying strategy. [14:50] - A detailed overview of lobbying and why it is important. [18:18] - The challenges women face in the investment industry. [21:54] - What can be done to encourage women to pursue careers in investing. [24:40] - What makes a good portfolio analyst. [26:50] - How Courtney maintains her physical and mental health. Quotes[06:28] - "Lobbying is not just about trying to make sure the government doesn't have a negative impact on our business. It's also about trying to position yourself for a potential positive benefit." - Courtney Rosenberger[18:52] - "I think that the combination of both societal changes and perceptions, as well as the industry really realizing the value that women can bring to strategies, I think we're really moving in the right direction. I know a lot of great women who are rising up in their companies and they're game-changers for the industry." - Courtney Rosenberger[23:52] - "If we were to talk about finance more in terms of the decision-making processes and the fact that it isn't just a purely mathematical grind every day punching numbers into a keyboard, you would attract a lot more people, not just women. I think you would get a lot more people with different interests and different skill sets." - Courtney RosenbergerLinks  Courtney Rosenberger on LinkedIn High Hopes by Panic! At the Disco Daniel Clifton Strategas Research Partners Lobbying As An Investment Tool James Bessen Boston University School of Law The Daily Punch Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0461-OPS-3/16/2022

Investing takes many forms. For most people, it is a way to grow their money and protect their financial future. This means that they are more likely to invest in things they are comfortable with and believe will give them the best return on investment. But when it comes to diversification, what are the best strategies?In today’s episode, Rusty talks with David Sherman, President of Cohanzick Management and Founder & Portfolio Manager of CrossingBridge Advisors, an investment management firm specializing in ultra-short and low duration strategies, including special purpose acquisition companies (SPACs).David talks with Rusty about the current market environment, particularly the high yield bond market, what investors should know about SPACs, and what the true risk-free investment rate is.Key Takeaways [01:54] - David’s role at CrossingBridge Advisors. [04:27] - What makes David’s Global Value Investing class interesting. [07:14] - What distinguishes his students from one another. [09:15] - What qualifications David seeks in an analyst. [12:07] - How the current market conditions affect the global economy. [15:40] - Factors that influence David's investment decisions. [20:12] - His perspective on high yield as an asset class. [24:03] - How he manages the tail risk of high yield assets. [28:07] - Are high yield bonds a good inflation hedge?  [30:19] - What investors need to know about investment grade bonds. [31:38] - SPACs: What they are and why investors and financial advisors should care. [40:03] - How investors are allocating to SPACs. [45:44] - What the true risk-free rate is for most investors. [48:04] - The qualifications of a good portfolio manager. [53:44] - How David personally invests his money. [56:46] - What David does to maintain his mental and physical health. Quotes[20:58] - "I think people have a core belief, a DNA of what makes them comfortable. And they only invest the best when they do things they are comfortable with. When you're not making money on things you're not comfortable with, it's just not a good psychological environment." - David Sherman[25:44] - "Most high yield doesn't have a long tail risk. Most high yield is five years or less in maturity. You can say that's a lot of tail risk but that's not nearly what it used to be. A lot of high yield and leveraged loans have certain covenants like change of control provisions if a company gets acquired which investment grade bonds don't, typically." - David Sherman[52:47] - “People underperform and outperform at various times depending on the economic environment or on the product cycle. And certain products are more opportunistic at certain times. There are a lot of good distressed investors, there’s just not a lot of good product right now. I would much rather have a mediocre distressed investor with a lot of product that's cheap, who's disciplined, than a great distressed investor who's clever by half who is a little less disciplined and there's not enough product." - David ShermanLinks  David Sherman on LinkedIn David Sherman Email Don’t Let Me Misunderstood by The Animals CrossingBridge Advisors CrossingBridge Fund Overview Cohanzick Management Orion Advisor Solutions Leucadia National Corporation (now Jefferies Financial Group) Washington University in St. Louis The Predators' Ball by Connie Bruck Michael Milken James B. Rosenwald III Freddie Mac Brinker Capital Live Oak Acquisition Corp RMG Acquisition Corp SPAC Informer SPAX Ken Griffin Seth Klarman CrossingBridge Pre-Merger SPAC ETF Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0540-OPS-3/29/2022

Marketing is a critical piece of any business. It is the function that focuses on bringing awareness and interest to a company, its products, and services. When done correctly, marketing can help a business achieve incredible results. In this episode, Rusty and Robyn talk with Manish Khatta, CEO & CIO of Potomac Fund Management, a boutique investment strategy firm for financial advisors.Manish is a quant, a true math geek. He has spent his career creating and refining trading strategies built on mathematical computations and number crunching. He is a lifelong Potomac employee who started with the firm after college and programmed the initial work behind Potomac’s mechanical trading systems. Manish is a staunch believer that investment risk is something that can be contained and conquered using quantitative trading systems.Manish talks with Rusty and Robyn about how Potomac Fund Management helps financial advisors, the value of marketing, and what marketing and branding strategies he uses on social media.Key Takeaways [02:56] - What Potomac offers financial advisors. [04:00] - How Potomac deals with volatile markets. [06:01] - How Manish uses technical analysis in decision-making and risk management processes. [09:39] - What 'build in public' means in asset management. [11:07] - Marketing and branding strategies Manish employs on social media. [15:01] - Potomac’s motivation and goals for producing content. [17:24] - What the 'Profound Industry Maker and Player Awards' is all about. [19:30] - Potomac's most popular YouTube video. [21:17] - How Manish invests for himself and his family. [22:42] - How Manish maintains his physical and mental health to stay on top of the game. [25:29] - Manish's top five favorite podcasts. Quotes[06:06] - "We build everything through indicators, quant indicators. We're not just looking at charts and deciding subjectively. It's based on numbers." - Manish Khatta[08:50] - "Part of the culture that permeates our entire firm is just being transparent and brutally transparent to the point where I could come across as very abrasive because I'm very forward. I literally don't have time to beat around the bush. I think that's the best way to run a business. I think that's the best way to run an asset management firm " - Manish KhattaLinks  Manish Khatta on LinkedIn Vibe by Diljit Dosanjh Christopher Norton Potomac Fund Management Potomac Fund Management on Twitter The Conquer Risk Podcast The Conquer Risk Podcast on YouTube Wu-Tang Clan PIMP Awards Gary Vaynerchuck The Bill Simmons Podcast Pivot The Compound and Friends Animal Spirits Podcast The GaryVee Audio Experience Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0485-OPS-3/21/2022

New technologies, economic shifts, demographic changes, urbanization, and climate change are global trends that have a significant impact on society and the economy. They are also shaping the way people invest their money. While these megatrends offer investors a great way to tap into new markets and opportunities, how can they be effectively incorporated into portfolios?In this episode, Rusty and Robyn talk with Jeff Spiegel, Director, US Head of iShares Megatrend, Sector and International ETFs at BlackRock, a global asset manager and technology provider.At BlackRock, Jeff manages product, sales, and marketing for the Megatrend and International franchises. In this episode, Jeff talks with Rusty and Robyn about megatrend investing strategy, the general guidelines for incorporating megatrends into a portfolio, and the top three investment themes that investors need to keep an eye on in 2022.Key Takeaways [03:49] - What is a megatrend investing strategy? [05:39] - The role of technological breakthroughs in megatrend investing. [06:47] - How demographics and social change fit into the five megatrends. [10:23] - The difference between personalized medicine and precision medicine. [11:43] - Why rapid urbanization is a topic of interest today. [13:08] - How climate change and resource scarcity are both part of the megatrends. [15:00] - What investors should know about emerging global wealth. [16:39] - How thematic investing has performed over the past couple of years. [21:05] - How iShares views megatrend ETF returns and risks. [23:59] - General guidelines for incorporating megatrends into a portfolio. [27:29] - The top three investment themes that investors need to keep an eye on in 2022. [32:28] - How Jeff's knowledge and expertise influence his personal investing. [33:46] - How Jeff maintains his physical and mental health. Quotes[24:03] - "A great investor, a great financial advisor, or a great institutional investor who's thinking holistically about their portfolio starts with asset allocation. That's the name of the game in terms of the overall most important determinant of the returns in your portfolio." - Jeff Spiegel[25:41] - "The most thoughtful way to incorporate megatrends into a portfolio is to actually just start a portfolio or pick the megatrends in a way that keeps your intended asset allocation in line. Don't take unintended bets in technology, on size, in sector or geography just by adding those megatrends securities in." - Jeff SpiegelLinks  Jeff Spiegel on LinkedIn iShares Morningstar BlackRock I’m Not Like Everybody Else by The Kinks New York, New York by Frank Sinatra Invest in Innovation with Thematic ETFs iShares Exponential Technologies ETF IHAK | iShares Cybersecurity and Tech ETF ICLN |iShares Global Clean Energy ETF XT | iShares Exponential Technologies ETF The Signal and the Noise by Nate Silver Slimed! An Oral History of Nickelodeon’s Golden Age How AI Conquered Poker The Bid Podcast by BlackRock 23andMe Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0431-OPS-3/9/2022