Resolve Riffs Investment Podcast

With Bradley Barrie (Co-founder and Chief Investment Officer, Dynamic Wealth Group) and Matt O’Bryon (Investment Analyst, Dynamic Wealth Group)

In this episode, our team dives deep into the intricacies of asset classes, correlations, and the importance of diversification in investment portfolios. We discuss the challenges of the traditional 60/40 investment strategy and explore the potential of alternative investment approaches.

Topics Discussed

• The limitations of diversifying only at the asset class level and the importance of understanding correlations

• The challenges faced by investors due to the shifting correlations between stocks and bonds

• How high growth, high inflation, low growth, low inflation, and other economic regimes can impact asset correlations

• The importance of being prepared for various market conditions and the risks of trying to predict market movements

• The goal of creating a smoother return experience for investors by minimizing drawdowns and downside risks

• The importance of understanding the risks and potential returns of different asset classes and strategies

• The challenges and benefits of implementing alternative investment strategies

• The role of benchmarking in investment strategies and the potential pitfalls of focusing too much on relative returns

• The importance of narrowing down the range of investment outcomes and eliminating big down years

• The nuances of managing risk exposures in portfolios and the importance of being adaptable in different market environments

• The potential of alternative investments and strategies in creating diversified portfolios

• The importance of understanding and managing the risks associated with different investment strategies

This episode is a must-listen for anyone interested in understanding the complexities of asset classes, correlations, and investment strategies. It provides valuable insights into alternative investment approaches and the importance of diversification in achieving smoother return experiences and minimizing downside risks.

This is “ReSolve’s Riffs” – live 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 delve into the secrets of success and wealth management with our guest Homer Smith, Private Wealth Advisor, Konvergent Wealth Partners. We explore the decisions successful people make, the concept of a virtual family office, and the importance of making good decisions about wealth and taxes. We also discuss the challenges of managing wealth and the benefits of a comprehensive approach to wealth management.

Topics Discussed

• The mindset and decision-making process of successful people

• The concept and benefits of a virtual family office

• The importance of making good decisions about wealth and mitigating taxes

• The differences in managing ultra wealthy individuals versus those in the median wealth range

• The role of taxes in wealth management and the benefits of focusing on tax efficiency

• The challenges faced by accountants and lawyers in wealth management and strategies to overcome them

• The importance of understanding the intent of wealth management solutions

• The role of insurance in wealth management

• The benefits of an All-Weather approach to investment and wealth management

• The psychological worries of wealthy individuals and how to address them

• The importance of focusing on the big picture in wealth management

Conclusion

This episode is a must-listen for anyone interested in wealth management, the psychology of successful people, and the intricacies of managing wealth. It provides valuable insights and strategies to navigate the complex world of wealth management and achieve financial success.

This is “ReSolve’s Riffs” – live 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, Rodrigo Gordillo sits down with David Triplo, Senior Associate, Diversifying Alternatives Research at Mercer,  to discuss his journey from poker to prop trading and finally to systematic global macro trading. They delve into the intricacies of the trading industry, the impact of market changes, and the future of the CTA space.

Topics Discussed

• David Triplo's transition from poker to prop trading and his early experiences in the industry

• The challenges and opportunities of trading on the future side and the specifics of cash basis trading

• The decision to move from options trading to futures trading and the factors influencing this choice

• The impact of market changes on trading strategies and the necessity of adaptation

• David Triplo's time at Transmarket Group and the lessons learned from the boom and bust cycle

• The shift to the world of CTAs and the differences between prop trades and CTA roles

• The evolution of Systematic Global Macro trading and the increasing use of non-price based information in trading strategies

• The role of volatility oriented strategies in hedge fund space and the potential for high convexity in a short time period

• The benefits of a diversified approach in Systematic Global Macro for the average allocator

• The current state of the alternative investment sleeve and the dominance of private equity and hedge funds

Conclusion

This episode is a deep dive into the world of trading from the perspective of someone who has experienced it all - from poker, to prop trading, to Systematic Global Macro. David Triplo's insights provide valuable lessons for anyone interested in the trading industry, the evolution of trading strategies, and the future of the CTA space.

This is “ReSolve’s Riffs” – live 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 conversation, we delve into the world of quantitative investing, exploring its intricacies, misconceptions, and the common mistakes people make when trying to apply it. The discussion also sheds light on the importance of asking the right questions and setting up the problem correctly in quant investing.

Topics Discussed

• The common misconception that a single tool or program can solve all problems in quant investing

• The importance of setting up the problem correctly and asking the right questions in quant investing

• The challenges of communicating complex quant concepts to laypeople or investment professionals without a background in quantitative methods

• The role of intuition and experience in quant investing and how they still hold significant value over calculations

• The use of quantitative methods in large institutions and the need for human supervision to prevent unusual or excessively risk-taking actions

• The impact of back testing and the importance of incorporating experience into it

• The discussion on whether machines can completely take over quant investing and the current limitations

• The exploration of arbitrage opportunities in quant investing and how they can be exploited by mid-sized banks

This conversation is a deep dive into the world of quant investing, offering valuable insights into its complexities, the common pitfalls, and the role of human intuition and experience. It's a must-listen for anyone interested in quantitative investing, providing strategies to navigate this complex field.

This is “ReSolve’s Riffs” – live 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 conversation, the ReSolve team is joined by Bob Elliott, a prominent figure in the financial industry, to discuss monetary policy, inflation and the role of central banks. They delve into the complexities of the current economic landscape, addressing the impact of fiscal policy, wage growth, and the role of alpha in investment strategies.

• Discussion on the impact of monetary policy on inflation and the consequences of not running a sufficiently tight policy in response to economic shocks

• Insights into the inflation dynamic and the risks of long-term elevated inflation

• Analysis of the bond market's reaction to Powell's statement and the implications for long-term inflation risks

• Exploration of the role of income growth in the current economic cycle and its impact on nominal growth

• Discussion on the importance of understanding the behavioral aspects of investment strategies and the concept of balanced alphas

• Insight into the potential of alpha indexing tools and how they can be used to create more reliable investment outcomes

• Discussion on the ideal weighting of equities, bonds, commodities and alpha in an investment portfolio

• Exploration of the concept of a diversified portfolio and how it can improve investment outcomes

This episode is a must-listen for anyone interested in understanding the intricacies of the current economic landscape, monetary policy, and investment strategies. Bob Elliott provides valuable insights into the role of central banks, the impact of fiscal policy and wage growth, and the potential of alpha in investment strategies.

This is "ReSolve's Riffs" – live 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, PJ Pierre, a leading voice in the field of Modern Monetary Theory (MMT), joins the ReSolve team for a deep dive into the complexities and implications of MMT. The conversation explores the role of government in fiscal policy, the impact of deficit spending, and the potential consequences of MMT on the economy.

Topics Discussed

• The discussion begins with an examination of the conventional belief that government must first collect taxes before spending, and how this view influences perceptions of government solvency and private investment.

• The conversation then shifts to the sequence of government spending and taxation, and the implications of a floating exchange system.

• PJ Pierre provides an explanation of how the government can issue currency and the potential consequences, such as inflation or a collapse of the currency.

• The role of the banking system within the MMT framework is also discussed, highlighting the complexity of this economic model.

• The conversation delves into the concept of fiscal dominance and the potential for the Federal Reserve to lose its monetary policy tool for regulation.

• The episode concludes with a discussion on the impact of inflation and the role of demographics in economic demand.

This episode offers a comprehensive exploration of Modern Monetary Theory, providing valuable insights for anyone interested in understanding the potential implications of MMT on fiscal policy and the economy. PJ Pierre's expertise provides a nuanced perspective on this complex economic model, making this episode a must-listen for those interested in economic theory and policy.

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, we dive deep into the world of financial markets and economic models with our guest, Joaquin Kritz Lara from Numera Analytics. We explore the importance of a probabilistic approach, the role of uncertainty, the dynamics of inflation, and much more.

• The importance of a probabilistic approach in financial markets and the disregard around uncertainty

• The role of economists and their strong beliefs around how the world works

• The dynamics of inflation and its impact on financial markets

• The importance of acknowledging that you don't know the full truth and adapting priors based on new information

• The potential risks and rewards of investing in regional banks

• The impact of inflation on the valuation of assets and the potential for downturns in certain sectors

• The potential of policy support in China and its impact on the global economy

• The potential for growth in India and the challenges it faces

• The impact of the dollar on the global economy and the potential for its decline

This episode provides a deep dive into the intricacies of financial markets, economic models, and the global economy. It's a must-listen for anyone interested in understanding the complexities of these topics and gaining valuable insights to navigate the uncertain financial landscape.

This is “ReSolve’s Riffs” – live 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.

The ReSolve Team welcomes Eric Basmajian, founder of EPB Research, and Jeff Weniger, a renowned financial analyst. We delve into the current state of the economy, the potential for a recession, and the role of the banking sector in these dynamics. We also discuss the influence of leading, coincidental and lagging indicators in economic cycles.

• Introduction to Eric Basmajian and Jeff Weniger, discussing their backgrounds and influences

• Discussion on the potential disparity between equity markets and recession indicators

• Exploration of Eric's economic framework and its application to current economic indicators

• Insights on the role of bank balance sheets in the economic cycle

• Discussion on the impact of the commercial real estate crisis on bank lending

• Examination of the contraction in bank credit and its implications for economic growth

• Debate on the current state of the economy and the potential for a recession

• Discussion on the role of leading, coincidental and lagging indicators in predicting economic cycles

• Insights on how different sectors of the economy may experience the impacts of a recession at different times

• Discussion on the importance of managing risk in the current economic climate

Today’s discussion provides valuable insights into the complexities of the current economic landscape and the potential for a recession. Detailed analysis from Eric Basmajian and Jeff Weniger provides a deeper understanding of the factors influencing the economy and how to navigate these challenging times.

This is “ReSolve’s Riffs” – live 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, Dominique Dwor-Frecaut shares her journey from working in large organizations such as the IMF and the New York Fed to her current role in a startup called Macro Hive. She discusses the culture of meritocracy, openness to ideas, and learning from mistakes that defines Macro Hive, and how it differs from her previous experiences.

Topics Discussed

• Insight into the culture of meritocracy at Macro Hive and the value of diverse opinions and contributions

• Comparison of policy enactment in the US and Europe, with a focus on the influence of cultural undertones

• Discussion on the current financial landscape, with strong growth, high but stable inflation and a dovish Fed

• Analysis of the impact of lower energy prices on household income, manufacturing and services

• Examination of the US fiscal proflicacy and its implication

• Discussion on the correlation between energy prices and non-energy inflation

• Insights into the Fed's focus on the employment leg of the mandate and its disregard for the inflation leg

• Discussion on the potential for a financial crisis due to high levels of debt and the possibility of the Fed tightening prudential rules

• Discussion on the potential impact of China's economic situation and the US banking sector crisis on the global economy

• Predictions for the future, including the possibility of higher inflation and financial volatility

This episode provides a deep dive into the complexities of the current financial landscape, the potential risks, and predictions for the future. It's a must-listen for anyone interested in gaining a nuanced understanding of the economic dynamics at play and the potential implications for the future.

This is “ReSolve’s Riffs” – live 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 comprehensive episode, Danielle DiMartino Booth, CEO & Chief Strategist for QI Research, joins the discussion to tackle various topics surrounding the Federal Reserve's leadership, monetary policy and the current economic challenges. Key themes covered include:

• Jay Powell's leadership and controversies within the Federal Reserve Board • The impact of monetary policies on Wall Street, mortgage rates and unregulated loans, with insights into Powell's motivations and challenges • The multifaceted consequences of the COVID-19 pandemic on the Federal Reserve's policy decisions and potential implications on inflation • The role of central clearing, systemic risk, and technology on the financial market • Explorations into credit easing, inflation battles, and the influence of monetary policy in the treasury market • The Fed's impact on commercial real estate, credit, and the treasury market, along with insights on housing resilience • A deep dive into inflation, quantitative tightening, and how economic indicators affect the treasury market • Discussions on Powell's experiences, interest rate considerations and the influence of fiscal policies on treasury markets and financial engineering • Assessments on data releases, regional banking challenges and wider implications of low-interest rates on the economy • The Fed's interest rate strategies, credit market signals, future of financial regulations and the overall economic outlook This information-packed episode is a must-listen for those keen on understanding the complexities of the Federal Reserve, monetary policy and the evolving economic landscape. Gain valuable insights and expert opinions on how to navigate through these challenging times.

This is “ReSolve’s Riffs” – live 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.