Lead-Lag Live

David Keller, a technical analyst and founder of Sierra Alpha Research, shares invaluable insights into market trends and emotional investing. He reveals how to spot trend exhaustion before it impacts your portfolio, emphasizing the importance of situational awareness. Keller discusses the pitfalls of algorithmic trading and confirmation bias, urging investors to embrace self-awareness. The conversation also covers strategic portfolio management, exit strategies, and adapting to market dynamics, equipping listeners with tools to make informed investment decisions.

Eric Balchunas, a Bloomberg ETF analyst with deep expertise in investment trends, unravels the ETF industry's parallels with biotech innovation. He dives into how specialized ETFs cater to unique investor needs, revealing the cultural shift towards riskier strategies. Eric discusses the transformative ETF rule paving the way for complex launches and highlights the importance of understanding investor psychology and behavioral biases. With exciting new products, the ETF landscape is evolving, challenging traditional approaches and appealing to both thrill-seekers and cautious investors.

Keith Fitzgerald, a veteran investor with 45 years in global markets, discusses his innovative "quantum mental" investing strategy, blending top-down and bottom-up analysis. He highlights key investment themes like digitalization and AI, pointing out must-have companies such as Apple and Chevron. Keith also emphasizes the importance of disciplined investing amidst market complexity, sharing insights on setting profit targets and recognizing when to sell. His passion for educating others shines through, encouraging listeners to navigate their investment journeys with confidence.

Join Christine Benz, a Morningstar expert and author of "How to Retire," as she delves into effective retirement strategies. Discover the bucket approach for market downturns and her take on adapting the 4% withdrawal rule to today’s economic landscape. Christine explains the shift from saving to spending and shares strategies to ease the psychological hurdles of retirement. She also discusses the potential of blue-chip dividend stocks, the importance of finding joy in purposeful activities, and the reality of extending working years amidst financial pressures.

Explore the intricate world of estate planning with Jamie Hopkins as he highlights the urgent need to address digital assets in wills. The conversation unveils the Revised Uniform Fiduciary Access to Digital Asset Act, granting fiduciaries access to crucial online accounts. Discover how modern technology can streamline planning processes and ensure your estate remains relevant. Jamie also emphasizes the significance of choosing a knowledgeable estate attorney and the importance of professional guidance in navigating these complexities.

Renowned economist Ed Yardeni joins me on Lead-Lag Live to unpack the roaring market trends and economic shifts of our time. Known for his bullish perspective, Ed sheds light on the resilience of the US economy, drawing fascinating parallels to historic periods like the 1920s and 1990s. We explore why expansions often last longer than recessions and how this outlook aligns with current market dynamics, especially the persistent appeal of large-cap stocks amidst a small-cap earnings stagnation. We'll navigate the intricate dance of market expectations with a focus on the Federal Reserve's maneuvers and the geopolitical undercurrents affecting gold prices. Our conversation critiques the concentration risk within the tech sector, reminiscent of the late 1990s, and delves into the realm of antitrust worries and fiscal policy's unpredictable impacts. Tune in to hear our insights on the necessity of maintaining objectivity in investment strategies, regardless of political climates, and how to construct a portfolio resilient to inflation, inspired by Mark Faber's risk parity model.In our exploration of global economic shifts, we discuss the US market's impressive performance since 2010 and its resilience in the face of global uncertainties, with a nod to India's emerging strength. Despite predictions of recession due to aggressive monetary tightening, the US economy's surprising robustness is noteworthy. We ponder the potential continuity of the current bull market into the decade's end and the risks of overheating, while also considering the influence of social media in shaping investment strategies. Join us for an enriching conversation that promises to expand your understanding of our evolving economic landscape.The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Support the show

Discover the layers of modern investing with Keith Dicker, founder and Chief Investment Officer of IceCap Asset Management, as we navigate the volatile world of Canadian equities and their global counterparts. Keith unveils the complexities of portfolio diversification beyond the traditional 60-40 split, urging investors to embrace a mix of cash, currencies, sovereign debt, credit, equities, and commodities. Together, we dissect the fervor surrounding equities and anticipate market shifts following the American elections, amid fears of a global economic slowdown.Canada's rapid population growth presents unique economic challenges, straining housing, infrastructure, and public services, while slowing economic output per capita and heightening recession risks. Keith and I discuss Canada's recession history, typically oil-driven and centered on Alberta, yet warn of potential balance sheet recessions impacting housing and corporate lending. The conversation expands to interest rate dynamics, exploring looming inflationary pressures and recession concerns in both Canada and the US, as dictated by the Bank of Canada and the Federal Reserve.Central banks might lean towards jumbo rate cuts, with the Bank of Canada poised for significant decisions as inflation hovers precariously. Keith and I delve into the possibility of a sovereign debt crisis and the intricate balancing act facing policymakers, reflecting on past economic policy failures. Commodities emerge as a critical component of diversified portfolios, offering a hedge against geopolitical and inflationary uncertainties. We champion a customized approach to portfolio management, especially for family offices, critiquing the investment industry's tendency to misattribute success and failure. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Support the show

Former budget director David Stockman shares his insights on the lasting impact of Reaganomics on today's economy. He critiques federal monetary policies, highlighting challenges like persistent inflation and stagnation. Stockman discusses the role of hard assets, including gold and Bitcoin, in uncertain times, while warning about the dangers of rising national debt. With an eye on the future, he explores how artificial intelligence could enhance productivity, providing a glimmer of hope amid today's financial challenges. Check out his Counter Corner newsletter for in-depth analysis.

Michael Taylor shares his remarkable transition from molecular biology to healthcare finance. He discusses the unique investment strategies utilized in the healthcare sector, underpinned by his scientific knowledge. The creation of Pink, an ETF supporting breast cancer research, highlights the intersection of philanthropy and finance. Taylor explores active versus passive investing, the pressures of hedge fund management, and the impact of political dynamics on healthcare investments. He also delves into how innovations like AI are reshaping drug discovery and patient outcomes.

In this engaging discussion, Gary Brode, a seasoned investor and founder of Deep Knowledge Investing, shares compelling insights on inflation, attributing it to government overspending rather than the Federal Reserve's policies. He dives into China's economic stimulus and its long-term impacts on global markets. The conversation sheds light on uranium's crucial role in carbon-free energy and discusses investment opportunities in small-cap and micro-cap stocks. They also tackle Bitcoin's position amid political criticism, revealing hidden investment prospects for savvy investors.