Resolve Riffs Investment Podcast

In this episode, Andy Constan, a veteran Wall Street professional, joins the ReSolve team to discuss the intricacies of the Federal Reserve's interest rate policies, the impact of long-term borrowing rates on the economy, and the role of financial advisors in the investment industry. They delve into a wide array of topics, shedding light on the complexities of asset allocation, the influence of policy makers on market dynamics, and the future prospects of bonds and equities.

Topics Discussed

• Andy Constan's perspective on the Federal Reserve's interest rate policies and their impact on long-term borrowing rates

• The role of financial advisors in the investment industry and the importance of informed conversations between advisors and clients

• Insights into the complexities of asset allocation and the challenges of stock picking

• The impact of long-term interest rates on the economy and the potential implications for inflation

• The role of policy makers in changing market dynamics and the potential effects of their decisions

• Predictions for the future performance of bonds and equities, and the factors that could influence these outcomes

• The potential impact of government spending and fiscal policies on the expected trajectories of the market

This episode is a deep dive into the complexities of financial markets, interest rates, and asset allocation. Andy Constan provides valuable insights from his extensive experience on Wall Street, making this a must-listen for anyone interested in understanding the intricate dynamics of the investment industry and the potential future of bonds and equities.

This is “ReSolve Riffs” – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

Introduction

In this episode, we are thrilled to have Jeff Weniger, the Chief U.S. Strategist for WisdomTree ETFs, back on the show. Jeff shares his insights on a range of topics, including the 'pension wars' concept, the potential for a domino effect in global equity markets, and the role of financial engineering in shaping investment strategies.

Topics Discussed

• Discussion on the 'pension wars' concept and its potential impact on asset flows over the next several years

• Exploration of the potential domino effect in global equity markets and the implications for investment strategies

• Insight into the role of financial engineering in shaping investment strategies, with a focus on the 1980s and 1990s

• Analysis of the impact of rising natural gas prices on diversified enterprises and the broader market

• Discussion on the future of work, with a focus on the shift towards remote work and its potential implications for the labor market

This episode is a must-listen for anyone interested in understanding the complexities of global equity markets, the potential impact of the 'pension wars' concept, and the future of work. Jeff Weniger's insights provide valuable strategies to navigate the uncertain financial landscape and better understand the intricacies of investment strategies.

This is “ReSolve’s Riffs” – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the ReSolve team is joined by Jason Buck, co-founder and CIO of Mutiny Funds, to delve into a range of topics, from the concept of ergodicity, portfolio construction, and the importance of diversification in investing. They also discuss the intricacies of the capital efficiency and tax implications of various investment strategies.

Topics Discussed

• Jason Buck's explanation of ergodic and non-ergodic concepts using the analogy of Russian Roulette

• The importance of understanding expected value in portfolio construction

• The role of offense plus defense in winning investing championships

• The concept of capital efficiency in using leverage and its implications for investment strategies

• The tax implications of Return Stacking and how to navigate them

• The significance of broad diversification in investment strategies

• The impact of different market conditions on the performance of long volatility managers

• The importance of maintaining line items in the portfolio for risk protection

This episode provides valuable insights into the complexities of investment strategies, portfolio construction, and the importance of diversification, and is a must-listen for anyone interested in understanding the nuances of investing and portfolio management.

This is "ReSolve's Riffs" – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick, and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association ("NFA"). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the team riffs with Doomberg, a renowned energy analyst, to discuss a range of issues from the global energy landscape to geopolitical tensions and the changing nature of warfare. The conversation also delves into the intricacies of the global natural gas market, the impact of sanctions on Russia, and the potential future of nuclear energy.

Topics Discussed

• Discussion on the global energy landscape, with a focus on natural gas and its role in the U.S. economy

• Insights into the geopolitical tensions, particularly the war in Ukraine, and the implications of the fall of the city of Avdiivka

• Examination of the changing nature of warfare, with a focus on the use of drones and the complexity of modern military conflicts

• Analysis of the impact of sanctions on Russia, the effectiveness of these measures, and the potential repercussions on the global stage

• Exploration of the global natural gas market, its future prospects, and the implications for the U.S. economy

• Discussion on the weaponization of the U.S. dollar and the potential for gold to emerge as a neutral reserve asset

• Insights into the potential future of nuclear energy, spurred by Amazon's entrance into the nuclear sector

This episode offers a deep dive into the complexities of the current global landscape, from energy markets to geopolitical conflicts. It provides valuable insights for anyone interested in understanding these dynamics and their implications for the future. The discussion with Doomberg offers a unique perspective, blending energy analysis with geopolitical understanding, making this episode a must-listen for those seeking to navigate the intricacies of the global stage.

This is “ReSolve Riffs” – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, we are joined by Jack Shannon, Senior Analyst at Morningstar, to discuss the dynamics of active equity management, portfolio construction, and the importance of downside protection in long-term investment success. Jack shares his insights on various topics, including:

• The asymmetry of returns and the importance of preserving capital on the

downside

•The role of active equity managers and the challenges they face in deviating

from benchmarks

•The impact of fund flows on portfolio management and the potential risks of

passive investing

•The role of risk management in active investing and the difficulty of

identifying winning strategies in advance

•The changing dynamics of growth and value investing, and the importance of

understanding market history

This episode is a must-listen for anyone interested in active equity management,

portfolio construction, and long-term investing. Jack's insights provide

valuable strategies to navigate the complexities of the financial markets and

better understand the nuances of active management.

In this episode, the ReSolve team is joined by Fred Pye, Founder of 3iQ Digital Assets, to discuss the rapidly evolving landscape of digital assets and blockchain technology. They delve into various topics, including the rise of Bitcoin, Ethereum, and the future of the digital asset space.

Topics Discussed

•The transition of the financial world towards digital assets and the

implications of blockchain technology

•The role and impact of intermediaries such as Coinbase and FTX in the digital

asset space

•The journey and development of 3iQ Digital Assets over the past nine years

•The potential of blockchain technology in tracking global trade and reducing

transaction costs

•The future of bond and equity trading on the blockchain

•The regulatory challenges and developments in the digital asset space

•The difference between Bitcoin, Ethereum, and other digital assets

•The potential growth and opportunities in the digital asset space for investors

•The importance of understanding and navigating the risks in the digital asset

space

This episode is a must-listen for anyone interested in the future of digital assets,

blockchain technology, and the potential opportunities and challenges in this

rapidly evolving space. Fred Pye provides valuable insights and strategies to

navigate the digital asset landscape, offering a glimpse into the future of

finance and investment.

This is “ReSolve Riffs” – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, the RAM Crew dives deep into the intricacies of monetary policy, inflation, and the impact of these factors on the global economy. They discuss the complexities of inflation, the role of the Federal Reserve, and the potential future of the financial landscape.

Topics Discussed

• Discussion on the shift in monetary policy and its implications

• Insight into the misunderstanding of inflation and its workings

• Examination of the impact of inflation on asset classes and financial markets

• Analysis of the potential increase in volatility across assets

• Discussion on the potential for more variance in inflation

• Exploration of the impact of AI on the service economy and potential for

re-acceleration of growth

• Review of historical inflationary shocks and their implications for the future

• Discussion on the potential for higher volatility in the financial markets

• Insight into the potential for strong economic growth and low unemployment

• Discussion on the risk management techniques for portfolios

• Analysis of the potential for wealth altering events in the financial markets

• Discussion on the potential for inflation shocks and the role of commodities

• Insight into the potential benefits of trend following managed futures

strategies

• Discussion on the concept of carry and its potential impact on portfolios

• Analysis of the potential benefits and risks of investing in concentrated value

ETFs

• Discussion on the potential for a hotter than expected economy over the next

year

• Insight into the potential mispricing in the financial markets

• Discussion on the potential impact of inflation on equities and bonds

This episode is a must-listen for anyone interested in understanding the complexities of inflation, monetary policy, and their impact on the global economy. The RAM Crew provides valuable insights and strategies for navigating the uncertain financial landscape and better understanding the intricacies of the financial markets.

This is “ReSolve Riffs” – published on YouTube Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this discussion, the ReSolve team is joined by David Sun, a retail investor

turned hedge fund manager with a background in engineering. David shares his

journey from options trading during grad school to launching two private

options-based hedge funds. He discusses the intricacies of options trading, the

importance of risk management, and the evolution of his investment strategies.

Topics Discussed

•David Sun's background in engineering and his transition into options trading

and hedge fund management

•The launch of David's two private options-based hedge funds and the rationale

behind having two separate funds

•The importance of risk management in options trading and how David's strategies

have evolved to minimize volatility drag

•The concept of return stacking portfolios and how it has been applied in

David's funds

•The role of diversification in enhancing portfolio performance and reducing

risk

•The potential of long volatility strategies as a diversifier and how they can

be applied in retail investing

•The impact of market changes on strategy backtesting and the importance of

continuously updating strategies to reflect current market conditions

•David's views on the future of his funds and the potential for launching a

third fund

•David's public presence and his efforts to educate retail investors through his

podcast, The Trade Busters

David Sun provides a unique perspective on options trading and hedge fund management,

drawing from his background in engineering and his experiences as a retail

investor. His insights into risk management, portfolio diversification, and

strategy development offer valuable lessons for anyone interested in the

intricacies of options trading and hedge fund management. This episode is a

must-listen for those looking to deepen their understanding of these complex

financial landscapes.

This is “ReSolve Riffs” – published on Friday afternoons to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association ("NFA"). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, Adam Butler and Mike Philbrick of ReSolve Asset Management have

an in-depth conversation with Chris Schindler, a seasoned investment

professional. They delve into a range of topics, from the intricacies of

investing in tech and the dynamics of the credit market, to the complexities of

portfolio construction and the impact of market forces on investment

strategies.

•The challenges of investing in tech and the role of analysts in creating

crowding effects

•The importance of understanding the dynamics of the credit market and the

implications of holding credit right through maturity

•The intricacies of portfolio construction, including the importance of

diversifying across strategies, assets, and time

•The impact of market forces on investment strategies and the role of

benchmarking in driving investor behavior

•The evolution of the volatility market and the influence of large players on

market dynamics

•The concept of 'netting' in multi-strategy portfolios and its impact on trading

costs

•The challenges of attribution in multi-strategy portfolios and the importance

of understanding the underlying strategies

•The potential pitfalls of short-term investment strategies and the importance

of a long-term perspective

This episode is a must-listen for anyone interested in gaining a deeper

understanding of the complexities of the investment landscape. Chris Schindler

provides valuable insights into the nuances of portfolio construction, the

dynamics of the credit market, and the impact of market forces on investment

strategies, offering strategies to navigate the ever-evolving financial

landscape.

This is “ReSolve Riffs” – published on YouTube Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

In this episode, we delve into a comprehensive discussion with Julian Brigden, a

renowned global macro strategist. Brigden shares his insights on the current

state of the US equity market, the economic implications of the Goldilocks

narrative, the potential risks of the bond market, and the future of global

economies like the UK, Europe, and Japan. This episode offers a deep-dive into

the complexities of global economics and financial markets.

Topics Discussed

• Brigden's perspective on the US equity market being massively overvalued

compared to the rest of the world

• Discussion on the dominant narrative of the Goldilocks soft landing and its

statistical rarity

• Insights into the potential risks and consequences of the Fed's rate cuts

• Analysis of the resilience of countries like Australia, Canada, and the UK in

the face of high rates

• Brigden's views on the structural bear market in fixed income and its

implications

• Discussion on the potential for growth and inflation to run hotter than

consensus

• Insights into the political and economic state of Japan and the potential for

autonomous growth

• Discussion on the potential trades and market trends to watch out for

This episode provides an in-depth analysis of the current state of global economies and financial markets. Brigden's insights offer valuable perspectives for anyone interested in understanding the intricacies of global macroeconomics and financial strategies. The audience will gain a deeper understanding of the complexities of global markets and potential future trends.

This is "ReSolve Riffs" – published on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by  Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.

*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.