Behind the Ticker

Ragen Stienke, founder of Ballast Asset Management, joined the Behind the Ticker podcast to discuss his 30+ years of experience in small and mid-cap investing. Ragen got his start in the 1990s at Arthur Anderson's business valuation group before working at UBS and later founding a SMID strategy at Westwood. In 2015, he started Ballast focused on small and mid-caps, offering both SMAs and their Small/Mid Cap ETF called MGMT. Ragen aims to turn alpha generation into a process focused on quantifying downside risk rather than relying on conviction. He sees opportunity in the small and mid-cap space as coverage by analysts has declined, believing this segment will outperform large caps in the coming years. 

Ragen evaluates management teams for alignment, capital deployment history, and strategic fit. Ragen positions MGMT as a replacement for passive ETFs or to balance large cap growth tilts in models, focusing distribution on RIAs and advisors rather than consultants. He summarizes Ballast's approach as “looking both ways when crossing a one-way street.”

To learn more about Ballast and Ragen please visit ballastam.com 

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Behind the Ticker — new episode every week.
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Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

Episode 23 of Behind the Ticker features guest Steve Cook, Head of ETFs at Harbor Capital Advisors. Join us as we discuss Harbor's suite of ETF products and the commodity ETF Hedger (ticker: HGER).

In this episode, Steve provides background on his experience in the ETF industry and Harbor Capital's evolution into the ETF space. He discusses Harbor's manager vetting process and bringing unique active strategies to the ETF wrapper.

Steve then dives into the motivation behind launching HGER, explaining how it differs from other commodity ETFs by providing dynamic exposure across 24 commodities based on an active rules-based index. He talks about the current commodity allocations and how the index rebalances based on economic conditions.

Additional topics include:

• Why Harbor moved its ETFs to the NYSE floor and the benefits seen from human liquidity providers
• Positioning HGER in a portfolio to hedge inflation and add non-correlated assets
• Reaching key AUM milestones and getting advisor distribution
• Harbor's lineup of equity and international ETFs also worth a look

Learn more as Steve shares his insights on bringing differentiated active ETFs to market and finding product-market fit. to learn more about Steve and Harbor Capital visit https://www.harborcapital.com/

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

In this episode of Behind the Ticker, we sit down with Katie Stockton, founder and managing partner of Fairlead Strategies, to delve into the philosophy and mechanics behind the TACK investment strategy and explore the offerings of her firm.

With her vast experience and a unique perspective on market trends, Stockton discusses the foundations of technical analysis that underpin the TACK strategy. She elaborates on the importance of a disciplined, long-term approach, emphasizing how TACK's method of relying on monthly data helps mitigate risks and navigate the complexities of the financial markets.

The discussion also sheds light on Fairlead Strategies' commitment to providing robust, research-driven insights and how the firm supports investors through thought leadership, regular market analysis, and educational content. Stockton's expertise illuminates the pathway for both individual and institutional investors seeking a deeper understanding of technical analysis and its practical implications in portfolio management.

For more information about CNBC contributor Katie Stockton and her firm Fairlead Strategies visit www.fairleadstrategies.com

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

Join us for an insightful episode as we dive into the fascinating world of Exchange-Traded Funds (ETFs) with a true industry veteran, Will Rhind. With over two decades of experience in the ETF arena, Will has carved a unique path by focusing on providing investors with high-conviction stock positions through innovative and disruptive ETF investments.

GraniteShares, Will's brainchild, boasts a diverse ETF suite covering everything from commodities to income, equities, and leveraged single stocks. In this episode, we have the privilege of delving into the world of these disruptive single stock ETFs, including red-hot names like Nvidia, Tesla, Meta, and Apple.

Will expertly articulates the case for single stock ETFs,  and conviction investing. He explores the remarkable demand surge witnessed in recent months, particularly with earnings season on the horizon, and offers insightful glimpses into what the future may hold for these investment vehicles.

Our guest, Will Rhind, isn't just a seasoned professional; he's the Founder & CEO of GraniteShares, managing over $1.7 billion in total assets under management. His impressive journey includes a stint as a Principal at iShares and as a key member of the original European ETF team. Notably, he also spearheaded ETF Securities in the U.S. and helmed the world's largest commodities fund, the SPDR Gold Shares ETF (GLD). Find more information at graniteshares.com

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

In Episode 20, we feature Paul Weisbruch from GTS, a prominent player in the financial industry. GTS specializes in trading over 30,000 different financial instruments globally, catering to a diverse clientele that includes leading financial institutions and public companies.

Their approach is built on state-of-the-art proprietary technology and a team of seasoned professionals, which allows them to offer execution and liquidity solutions, even during volatile market conditions. As one of the New York Stock Exchange's designated market makers (DMM), GTS Securities serves a range of businesses, both domestically and internationally.

GTS's DMM division plays a pivotal role in facilitating efficient capital formation, supporting the growth of listed companies. Their extensive portfolio includes 1,116 stock issues with a combined market capitalization of $14 trillion, accounting for 32% of NYSE market share.

In this episode, we dive into the current state of the ETF industry, explore emerging trends, and examine the positive impact of floor trading on market performance for issuers. To learn more about GTS, you can visit their website at gtsx.com.

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

In Episode 19, we welcome Kyle Wiggs, the founder and CEO of UX Wealth Partners, a platform known for its utilization of Artificial Intelligence and Machine Learning in investment technologies. This episode provides insights into the services and technologies offered by UX Wealth Partners to Registered Investment Advisors (RIAs).

We explore how UX Wealth Partners employs its technology to offer solutions that go beyond traditional asset management platforms, providing tools and resources aimed at improving operational efficiency, client engagement, and business growth for financial advisors.

Join us as we discuss the current landscape of investment technologies, share insights on model portfolio best practices, and consider the circumstances under which a model provider might launch an ETF. For more information about UX Wealth Partners and their offerings, visit uxwp.com.

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

In Episode 18, we're joined by John Davi and Frank Tedesco from Astoria Advisors, who have just introduced their second ETF, ROE - US Quality Kings. We delve deep into the current state of the U.S. stock market and explore the intricacies of the ROE strategy.

Astoria's US Quality Kings ETF is an actively managed Exchange Traded Fund (ETF) designed to pursue long-term capital growth. It achieves this by investing in a well-diversified portfolio of 100 high-quality U.S. large-cap and mid-cap stocks. What's unique is that each of these stocks is equally weighted, mitigating the potential challenges associated with market cap-weighted indices.

Furthermore, the fund optimizes its allocation within sectors, meticulously selecting the highest quality stocks in each sector, mirroring their weight in the S&P 500.

To gain further insights into Astoria Advisors and their innovative ROE approach, be sure to check out their website at astoriaadvisors.com.

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

Episode 17 showcases Elysabeth Alfano, an influential figure in the world of food systems transformation. She is the founder and CEO of VegTech™ Invest, advisor to the Plant-based Innovation & Climate ETF, EATV.  Elysabeth’s journey began with invaluable experience at Fortune 500 companies such as IBM-Europe and The Kellogg company, as well as being Chief Investment Officer for a small family office.  Focused on both growth and impact, the EATV ETF invests up and down the food supply chain in companies that are innovating for efficient and sustainable food production, addressing climate change, biodiversity loss and food security.  The ETF also highlights the seismic growth opportunity from the disruption of this $8 trillion sector.  For more information, please visit EATVetf.com.

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

Introducing Ryan Pannell, CEO of Kaiju ETF Advisors. Ryan Pannell is the focus of Episode 16, where he talks about his journey from pioneering cryptographic web-based messaging technologies to becoming a professional equities trader. With a background in theoretical physics, quantum mechanics, cosmology, film, and television, Ryan has a unique perspective on investment management and the applications of artificial intelligence in scientific trading.

Kaiju Worldwide, founded by Ryan, manages several private funds and an AI-driven ETF, the BTD Capital Fund (ticker DIP). The "Buy the Dip" strategy uses AI to identify oversold opportunities within the S&P 500. This approach to asset management and allocation is highly innovative and well thought-out. For more information on DIP visit dipetf.com

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com

Episode 15 of Behind the Ticker features Alejandro Garza, the Founder and Portfolio Manager of Aztlan Equity Management. Alejandro is the portfolio manager behind the Aztlan Global Developed Markets SMID Cap Strategy ticker AZTD. AZTD is Atzlan’s stock selection ETF, a unique rules-based strategy that selects the top 27 stocks based on fundamental factors. AZTD uses a proprietary 6-factor fundamental model to assign stock rankings: cash flow generation, value, growth, capital structure quality, earnings revisions and momentum. The Fund’s stock picks represent companies in developed markets across North America, Western Europe and Developed Asia, with market caps between $500 million and $10 billion. Energy, Real Estate and Pharmaceuticals are excluded. To learn more about Alejandro and AZTD visit www.aztlanetfs.com

Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletter

More episodes: thorft.com/podcast

Want the framework behind this conversation? Fifteen minutes with Brad Roth, founder and CIO of THOR: https://thorft.com/call?s=podcast

Behind the Ticker — new episode every week.
Listen: Spotify · Apple Podcasts · YouTube
Episode notes and the full archive: thorft.com/podcast
Daily market note, The Signal: thesignal.thorft.com