Excess Returns

By Excess ReturnsBusiness Investing

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Typical duration
61 min
per episode

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Excess Returns episodes

May 25, 2023 The Impact of ChatGPT on Investing with Alejandro Lopez-Lira
Like many investors, we have been thinking a lot about the impact that AI and large language models will have on investing. In this episode, we bring in an expert to help us sort it out.
We speak with University of Florida Professor of Finance Alejandro Lopez-Lira, who was worked extensively with this new technology and recently authored the paper "Can ChatGPT Forecast Stock Price Movements? Return Predictability and Large Language Models".
We discuss how ChatGPT works, its potential future impact on investing and what his research showed with respect to its ability to predict short-term stock price movements. We also take some time at the end to cover some of his other interesting asset pricing research.

We hope you enjoy the discussion.
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55 min
May 18, 2023 Bridging Academic Research and Real World Investing with Vanguard's Kevin Khang
In this episode, we speak with Vanguard's Head of Active and Alternatives Research Kevin Khang. Kevin offers a unique perspective due to his experience both as a researcher and a practitioner. We discuss a variety of his research papers, including his work on tax loss harvesting, direct indexing, optimization in factor investing, using home equity in retirement and safe withdrawal rates.
We hope you enjoy the discussion.

SEE LATEST EPISODES
⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JUSTIN
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LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau

53 min
May 15, 2023 New YouTube Episode: 70 Experts Share Their Most Important Investing Lesson
In the first 200+ episodes of our podcast, we have interviewed many investing experts. At the end of all of those episodes, we have asked the same closing question:
Based on your experience in markets and your research, if you could teach one lesson to the average investor, what would it be?
We created a YouTube only episode to bring all of those insights together in one place.

You can find the episode on our YouTube channel or via the link below.
https://youtu.be/bbjGnp8gvQM

We hope you enjoy it.
1 min
May 11, 2023 Show Us Your Portfolio: Harin de Silva
In our latest episode of Show Us Your Portfolio, we speak with Harin de Silva, Portfolio Manager at Allspring Global. We talk to Harin about how he manages his personal investments and his strategy for seeking out uncorrelated sources of return and dig into his unique approach to long short factor investing and how he incorporates it into his portfolio. We also discuss his view in international investing, his approach to private investing, the future of the 60-40 portfolio and a lot more.

SEE LATEST EPISODES
⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau
54 min
May 04, 2023 Show Us Your Portfolio: Mike Green
In this episode we talk to Simplify Asset Management's Mike Green about how he manages his personal portfolio. We discuss Mike's macro-based approach and how he has implemented it using an ETF strategy. We cover the unique components within his strategy and how Mike thinks about combining them together into a portfolio. We also talk about how working in the investment business impacts how Mike builds his portfolio, the importance of sabbaticals, his upcoming RV trip, how he is coping with his current lack of cooking tools and a lot more.
We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau
1 hr 9 min
April 27, 2023 Show Us Your Portfolio: Jason Buck
In this episode we speak with Mutiny Funds co-founder Jason Buck about how he manages his personal portfolio. Jason couldn't find any publicly available funds that were running the unique all weather approach he wanted to use to manage his money, so he built it himself. We discuss the principles behind the cockroach portfolio he utilizes in his persona portfolio and take a detailed look at the individual components.
We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau
56 min
April 21, 2023 Talking Technical Analysis with Katie Stockton
In this episode we talk technical analysis with Fairlead Strategies founder Katie Stockton. As fundamental investors, this one was a great learning experience for us as we covered a wide range of ways in which technical analysis can help all of us in our investment strategies. We discuss the major tools available to technical analysts and how Katie thinks about deploying them, how Katie uses technical analysis to build a sector rotation portfolio that also manages risk and how fundamental investors can use technical analysis to improve their investment strategies.
We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau

51 min
April 19, 2023 Inside the High Yield Debt Market with Rajay Bagaria
In this episode, we talk high yield debt investing with Rajay Bagaria, CIO of Wasserstein Debt Opportunities and author of "High Yield Debt: An Insider’s Guide to the Marketplace." We look at the high yield debt market from the ground up and cover the major players, the types of high yield debt and the terms and concepts investors need to understand when looking at the space. We look at the fundamentals of high yield debt investing and the key concepts to understand, who the buyers and sellers are in the high yield market, the return profile of high yield debt and how it compares to other areas of the market and much more.
We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau
55 min
April 13, 2023 Show Us Your Portfolio: Cem Karsan
In this episode we speak with Cem Karsan, the most popular guest from our first 200 episodes. But this time, we changed things up and asked him to talk about how he manages his personal portfolio.
Many investors are used to building their portfolios using long-term buy and hold allocations to stocks and bonds, but Cem turns that on its head and takes a very different approach. We talk about the principles that guide his investment strategy, how he thinks about portfolio construction, his views on inflation and a lot more. For followers of Cem, we also ask for some breadcrumbs on dealer positioning at the end too.
We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠⁠https://www.validea.com⁠⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠⁠https://blog.validea.com⁠⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠⁠https://www.valideacapital.com⁠⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/jcarbonneau
1 hr 17 min
April 06, 2023 Enduring Investing and Life Lessons with Guy Spier
In this episode, we speak with Guy Spier. Guy has built a very successful long-term track record as a value investor, but the lessons we can learn from him go far beyond investing and apply to so many aspects of life. We discuss Guy’s unique approach to investing, what he has learned from Buffett, the importance of learning in public and a lot more.

We hope you enjoy the discussion.
SEE LATEST EPISODES
⁠⁠⁠https://www.validea.com/excess-returns-podcast⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA
⁠⁠⁠https://www.validea.com⁠⁠⁠
FOLLOW OUR BLOG
⁠⁠⁠https://blog.validea.com⁠⁠⁠
FIND OUT MORE ABOUT VALIDEA CAPITAL
⁠⁠⁠https://www.valideacapital.com⁠⁠⁠
FOLLOW JACK
Twitter: ⁠⁠⁠https://twitter.com/practicalquant⁠⁠⁠
LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/jack-forehand-8015094⁠⁠⁠
FOLLOW JUSTIN
Twitter: ⁠⁠⁠https://twitter.com/jjcarbonneau⁠⁠⁠
LinkedIn: ⁠⁠⁠https://www.linkedin.com/in/jcarbonneau

1 hr 33 min

About Excess Returns

From the publisher's feed

Excess Returns is dedicated to making you a better long-term investor and making complex investing topics understandable. Join Jack Forehand, Justin Carbonneau and Matt Zeigler as they sit down with…