Lead-Lag Live
Michael A. Gayed, CFA
Lead-Lag Live is your front-row seat to unscripted, real-time conversations with the sharpest minds in finance, economics, and investing.Hosted by Michael A. Gayed, CFA — publisher of The Lead-Lag Report and a widely followed voice on macro strategy — each episode features candid discussions with top portfolio managers, economists, ETF strategists, best-selling authors, and market practitioners. No scripts. No teleprompters. Just raw insight from people who move markets.Every week, we go deep on the themes that matter most: macro trends, interest rates and Fed policy, equity and bond markets, ETF strategies, geopolitical risk, asset allocation, commodities, currencies, and the interplay between risk-on and risk-off positioning.Whether you manage billions or are just getting started, Lead-Lag Live delivers actionable analysis and frameworks you can use — not surface-level market commentary.Originally broadcast live on X Spaces, every conversation is available here as a full-length podcast so you never miss a discussion.Subscribe now and follow @leadlagmedia on X for upcoming live events.
Episodes
Mentioned books
Jan 5, 2025 • 37min
Lakshman Achuthan on Economic Cycle Insights, Yield Curve Un-inversion, and Global Manufacturing Challenges
Lakshman Achuthan, a veteran business cycle analyst from the Economic Cycle Research Institute, dives into the complexities of economic cycles, discussing their inherent cyclical nature. He unpacks the recent un-inversion of the yield curve and what it signals about the current economic landscape. The conversation also highlights the challenges facing global manufacturing amid a slowdown and the implications of past policies. Achuthan emphasizes the importance of adapting to evolving data and staying informed to navigate economic fluctuations.
Jan 4, 2025 • 43min
Max Osbon on Tech Investment Resilience, Market Volatility Strategies, and the Speculative World of SPACs and Micro-Cap Innovations
Max Osbon, head of Osbon Capital Management, shares his expertise on tech investments and managing risk in volatile markets. He discusses how to navigate pullbacks, focusing on giants like Nvidia, while emphasizing the buoyancy of market liquidity despite a reduced M2 money supply. The conversation dives into the challenges VC-backed firms face and the speculative landscape of SPACs and micro-cap innovations, with real-life examples like Butterfly Network. Osbon highlights the necessity of thorough analysis to find opportunities even in uncertain times.
10 snips
Jan 3, 2025 • 35min
Amy Nixon on Post-Pandemic Housing Dynamics, Mortgage Lock-in Paradoxes, and Strategic Investment Insights
In a captivating discussion, housing analyst Amy Nixon shares her expertise on the post-pandemic housing market. She highlights the mortgage lock-in paradox that keeps homeowners from selling, despite high rates. Amy delves into regional trends in Florida and Texas, exploring how immigration shapes housing demand and construction labor. Unique insights are offered on investment strategies for 2024, emphasizing the impact of inflation and changing demographics. Listeners gain a nuanced understanding of current market dynamics and future outlooks.
Jan 2, 2025 • 35min
Charles Rotblutt on Emotional Investment Influences, Small-Cap Growth Prospects, and Diversified Portfolio Strategies
Charles Rotblutt, Vice President of the American Association of Individual Investors and seasoned CFA charterholder, dives into how emotions can steer investment choices more than actual market changes. He discusses the impact of market sentiment, emerging opportunities in small-cap stocks, and the significance of diversification amidst volatility. Charles highlights the evolving landscape of investing, contrasting traditional strategies with speculative trends, while emphasizing the urgent need for balanced portfolios to navigate current economic challenges.
7 snips
Jan 1, 2025 • 48min
Kevin Bambrough on Stress Management Techniques, Mitochondrial Optimization, and Achieving Peak Performance through Passion and Purpose
Kevin Bambrough, a finance and private equity expert, shares his inspiring transformation from a high-powered career to prioritizing well-being. He discusses the critical link between stress management and health, driven by a life-altering experience. Kevin dives into the science of mitochondria, revealing how to enhance mental and physical performance. He emphasizes the role of purpose and passion in achieving peak performance and reflects on creating positive feedback loops for personal growth, ultimately guiding listeners toward self-discovery and fulfillment.
Dec 31, 2024 • 49min
Axel Merk on Strategic Gold Investments, Risk Management Nuances, and AI's Role in Future Forecasting
Join Axel Merk, Founder and CIO of Merk Investments, as he shares his expertise in gold and risk management. He discusses the transition from tech investments to managing $1.6 billion in gold assets, offering insights into the nuances of hedging. Axel highlights the psychological aspects of investing during downturns and the strategic role of gold in economic instability. He also examines the impact of fluctuating energy costs on gold mining and delves into the exciting potential of AI in future investment forecasting.
Dec 30, 2024 • 40min
Meb Faber on ETF Fund Strategy Mastery, Tax-Efficient Investment Insights, and Global Market Dynamics
Meb Faber, Founder and CIO of Cambria Investment Management, shares his expertise on ETF fund strategies and tax-efficient investing. He dives into the shift from mutual funds to ETFs, emphasizing innovative approaches like open enrollment for new funds. Meb discusses the benefits of shareholder yield and details the unique 351 exchange for tax optimization. He also unveils plans for a global endowment-style ETF and offers insights on navigating market volatility, including the stark differences between U.S. and foreign stocks.
Dec 29, 2024 • 45min
Seth Cogswell on Fiduciary vs Asset Gathering Roles, Mid-Large Cap Stock Opportunities, and Rules-Based Investment Strategies
Seth Cogswell, founder of Running Oak and a proponent of rules-based investment strategies, dives deep into the distinction between fiduciary advisors and asset gatherers. He reveals the importance of genuine financial stewardship and client relationships in investment management. The conversation also highlights the untapped potential of mid-large cap stocks and the pitfalls of emotional trading. With insights on disciplined investment strategies, Seth equips both advisors and investors with tools for sustainable growth amid market fluctuations.
Dec 28, 2024 • 45min
Robin Wigglesworth on Bond Market Volatility, European Financial Optimism, and Central Bank Roles in Market Stability
Robin Wigglesworth, editor of FT Alphaville and author of a book on index funds, delves into the world of bond market volatility and its implications. He discusses the recent turbulence in U.S. Treasury yields and how bonds serve as indicators of systemic risks. The conversation highlights the disparity between U.S. and European markets, particularly in the context of potential political changes, and raises concerns over inflation and private credit. Optimism surfaces in Europe and Japan, hinting at shifting financial landscapes despite historic challenges.
Dec 25, 2024 • 56min
Howard Chan on Balancing Income and Growth, Democratizing Investment Strategies, and Tax-Efficient Yield Premium ETFs
Join Howard Chan, the founder and CEO of Kurv Investment Management, as he unpacks the nuances of balancing income and growth in investment portfolios. Discover how recent SEC rule changes are making sophisticated, tax-efficient strategies accessible through ETFs. Howard discusses an innovative yield premium ETF that transforms tech stock volatility into steady income, ideal for retirees. He also sheds light on momentum-weighting strategies and covered call writing, revealing how these methods reduce risk while keeping growth potential alive.
