Tall Oaks Podcast

October was a volatile month across asset classes, and Branden DuCharme, CFP®, CMT®, is back to sort through it. This month he covers:

• Why matching your charts to your investment time frame matters, using high-yield credit as the example
• The 10-year Treasury and rethinking how bonds fit as portfolio defense
• Gold's move into a confirmed downtrend, and how a long-term investor might think about position sizing
• The strengthening U.S. dollar and what cross-asset correlations could mean for 2027
• Alphabet's record one-day drop after earnings, and what it says about single-stock and AI concentration risk

Recorded November 1, 2026. Market levels referenced are as of the recording.

Learn more at ducharmewealth.com.

Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Is the S&P 500 really as diversified as it looks? Branden DuCharme, CFP®, CMT®, talks with David Dziekanski, founder and CEO of Quantify Funds, about what diversification actually protects you from, and what it doesn't.

David shares the question that got him laughed at during a Bear Stearns lunch-and-learn in 2007, less than a year before the firm collapsed. From there, Branden and David cover currency debasement, how CPI is calculated, why Bitcoin and gold haven't moved the way many expected, and how return stacking and portable alpha work. Branden also breaks down covered calls and put spreads with a simple real estate analogy, and shares his framework for sector tilts.

Topics:

• Systematic risk and the S&P 500
• Inflation, CPI, and the Fed's balance sheet
• Bitcoin and gold as scarcity assets
• Return stacking, leverage, and hurdle rates
• Alpha vs. beta
• Covered calls vs. put spreads
• Sector tilts and the value factor

Recorded October 7, 2026.

Learn more about DuCharme Wealth Management: https://ducharmewealth.com

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Charlie McGarraugh, Chief Investment Officer of Altis Partners and a former Goldman Sachs Partner, joins Branden DuCharme to discuss managed futures, trend following, and diversification beyond a traditional 60/40 portfolio.

• Why the stock-bond correlation changed, and what it means for 60/40
• Why stocks, bonds, and cash alone may not be diversified on inflation
• How leverage is embedded in futures contracts, plus clearinghouses and liquidity
• Trend following explained: "the moving business"
• Risks to understand: sudden reversals and bankroll management

Recorded SEP 25th, 2026. Watch our conversation with Harley Bassman (Sep 30): https://youtu.be/7TgEoeYf8mU

Want to talk about how diversification fits into your own plan? Connect with the DuCharme Wealth Management team: https://ducharmewealth.com/contact-us/

Check out Charlie on X: https://x.com/CMcgarraugh

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

• Federal vs. private student loans, and why they call for opposite strategies
• How Income-Based Repayment (IBR) calculates your monthly payment
• Why a $0 payment can still count toward forgiveness
• Planning for the tax bill when non-PSLF forgiveness hits
• How married filing separately and traditional retirement contributions can lower payments
• The 1.5x debt-to-income rule of thumb for deciding if forgiveness is worth pursuing
• Why anyone at a government or nonprofit employer should look at PSLF
• New federal borrowing caps and what they mean for future students

The 10-year Treasury yield just broke out of a multi-year base, the U.S. dollar is testing a key channel, and most stocks are sliding while the biggest tech names hold up. in this September Market Update, Branden DuCharme CFP® and CMT® at DuCharme Wealth Management, walks through five charts to help make sense of what's moving markets and what may be on the horizon.

Recorded Tuesday, September 29th, 2026, before the month closed, so the candlestick reads are still developing.

In this Episode:

• Why rising interest rates pressure both bonds and stocks, and why they matter for mortgage rates.
• The 10-year Treasury yield breaking above its 2023 high, plus a long-term look at yields back to the 1970s
• What a stronger U.S. dollar can mean for gold, international and emerging market investments
• What the equal-weight S&P 500 says about market breadth
• The Magnificent 7 retesting a breakout, and why big tech leadership matters

Want to talk through how rates and the dollar may affect your own plan? Visit ducharmewealth.com or reach out to the team at DuCharme Wealth Management.

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Harley Bassman, the "Convexity Maven" and creator of the MOVE Index (often called the VIX for bonds), joins Branden DuCharme for a wide-ranging look at bonds, rates, and the dollar.

Harley spent 26 years at Merrill Lynch, where he traded options on mortgage bonds, and he shares his market commentary for free at ConvexityMaven.com.

In this episode:
• Why a mortgage bond works like the original covered call fund
• Convexity explained in plain English
• Why the mortgage market's "convexity beast" is waking up
• Why AI hyperscalers may borrow at almost any price, and what that could mean for Treasury yields
• How the yen carry trade could change who buys U.S. debt
• Why Harley calls inflation the government's silent tax
• His view of gold as an alternate currency

Resources:
• Harley's free commentaries: https://www.convexitymaven.com

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Retirement planning myths, busted. Carisa Bertrand puts Branden DuCharme through a rapid-fire round of fact, fiction, or it depends — covering Social Security, market timing, taxes, Roth conversions, retirement myths, and estate planning.

In this episode:
 • Is Social Security going bankrupt?
 • Claim early or wait until 70?
 • The $1 million retirement myth
 • Is the 4% withdrawal rule still reliable?
 • Estate planning myths everyone believes
 • Should you trust ChatGPT with your financial advice?

Have a question you want answered on the show? Reach out to DuCharme Wealth Management — we'll try to cover it in a future episode.

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Are annuities worth it? Branden DuCharme sits down with colleague Jace Austin — who spent nearly a decade writing life insurance and annuity contracts — for an honest, no-sales-pitch look at how these products really work.

They cover what makes an annuity an insurance product, the difference between the fees you can see and the "implicit" fees you can't, how fixed index annuities use floors, caps, and participation rates, and why contract terms can quietly get worse after year ten. Jace also shares his candid take on income riders and what to do if you already own an annuity you don't fully understand.

A balanced, plain-English conversation for anyone weighing guaranteed income against cost and flexibility.

Questions about your own situation? Reach the team at https://ducharmewealth.com

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Equity compensation comes with its own alphabet soup — RSUs, ESPPs, NSOs, and ISOs — and getting it wrong can cost you thousands. In this episode, Branden DuCharme, CFP® is joined by equity comp specialist Mark Cecchini, CFP® to break it all down in plain English.

You'll learn how each type of equity comp works, when you actually get taxed, the biggest mistake people make after their shares vest, the AMT trap that catches ISO holders off guard, and the behavioral side of holding a large concentrated position — with real lessons from employees who lived through the SpaceX IPO.

In this episode:
 • The full equity comp landscape, from 401(k) stock to startup options
 • RSUs: vesting, the one-year cliff, and the "would you buy it today?" reframe
 • ESPPs and the 15% discount that's close to free money
 • NSOs and the three ways to exercise your options
 • ISOs, the Alternative Minimum Tax, and how the AMT credit works later
 • Profits Interest Units — the unusually favorable model OpenAI is using
 • Tender offers, direct listings, IPO lockups, and managing concentration risk
 • The behavioral core: FOMO, anchoring bias, and answering "how much is enough?"

Have equity comp questions? Mark Cecchini, CFP® is Director of Wealth Solutions at Quadrant Capital, specializing in equity compensation for tech founders and executives. Learn more at quadcapco.com or connect on LinkedIn (search "Mark Cecchini CFP").

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.

Branden DuCharme closes out August 2026 with a chart-driven read on what the markets are actually signaling — not stock tips, but the big inter-market trends worth understanding.

In this episode:

• The ten-year Treasury and why higher interest rates shouldn't surprise you
• Where mortgage rates may be headed (and why waiting for lower rates can backfire)
• What tight credit spreads say about the economy's health
• Oil, West Texas Intermediate crude, and why energy prices may stay higher
• Gold's breakout and the long-term case for it outperforming the S&P 500
• The US dollar's trading bands and what a move to the downside would mean
• Why international stocks may be setting up for a new secular trend

Whether you're a long-term investor or just trying to make sense of the noise, Branden offers a grounded framework for where to be positioned.

Learn more at ducharmewealth.com.

DISCLAIMER:
Information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy, and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the options presented. Encompass More Asset Management LLC is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC) and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.