The ETF Experience

Daniel McCabe, CEO of Precidian Investments joins Phil to talk about his career in trading and product development and to discuss Precidian's solution for non-disclosed actively managed ETFs. They discuss:

• How Dan's career got started
• Running a market-making firm on the Amex
• Developing CurrencyShares
• Phantom shorts
• ADR-plus and currency hedging
• How ActiveShares works
• The SEC approval process
• What to expect from active ETFs in the future

In a double episode focused on financial literacy and impact investing in Detroit, Phil is first joined by Godfrey Aguwa Jr. to learn about DCU NextGen, how Godfrey got involved in teaching financial literacy, and the impact of Godfrey's Lemonade Day initiative in Washtenaw County, MI. That conversation is followed up by Michael Randall from the American Heart Association who explains the purpose of impact investing and how it can make a difference in the areas of health, financial education and more.

To learn more about DCU Next Gen please visit: https://dcunextgen.org/

To learn more about the American Heart Association please visit: https://www.heart.org/

Dr. Forrest Morgeson, Director of Research at the American Customer Satisfaction Index joins the show to define customer satisfaction and talk about the quantitative process employed by the ACSI to measure it.

• Intangible vs tangible assets • How to measure customer satisfaction • Managing statistical noise • Quantifying the value of a satisfied customer • Quantifying elasticities and impact on stock prices • Measuring citizen satisfaction on behalf of governments

In the second of a two part best-of 2019 compilation, we'll hear some of the more powerful and thought provoking segments recorded this year, including guests Morgan Housel, Laura Morrison, Tobias Carlisle, Teddy Fusaro, Christian Magoon, Bill Kelly, Matthew Stoller & Tyrone Ross Jr.

In the first of a two part best-of 2019 compilation, we'll hear some of the more powerful and thought provoking segments recorded this year, including guests Daniel Crosby, Cathie Wood, Drew Voros, Craig Lazzara, Ben Johnson, Scott Nations and Ben Hunt.

Everyone struggles. In this episode we hear from all of our podcast guests from 2019 who have answered the question about what obstacle they have found a way to work around or persisted through, along their path to success. We'll hear from Ben Johnson, Oliver Renick, Phil Huber, Kathleen Moriarty, Ben Hunt, Bill Kelly, Alex Chalekian, Perth Tolle, Morgan Housel, Tobias Carlisle, Nicole Boyson, Daniel Crosby, Alexandra Levis, Dan Cupkovic, Scott Nations, Sal Gilbertie, Andrew Stewart & Matthew Stoller about how they all overcame adversity.

Matthew Stoller from the Open Markets Institute joins Phil to talk about his book Goliath and explain the history of the war against monopoly power in America.

• The history and cyclicality of monopolies as a political issue
• The damage done by monopolies
• America's concentration crisis across all sectors
• Antitrust and monopoly concerns in the financial services industry

Note from Phil: please first listen to Epsilon Theory: Part One (episode 47) from August 19, 2019 Ben Hunt explains the meaning behind some of the most important of Epsilon Theory phrases and concepts.

• Always Go to the Funeral
• The Nudging Oligarchy
• Why am I reading this NOW?
• Narrative missionaries
• Too Clever by Half
• Clear Eyes & Full Hearts

Thanks, and have a great Thanksgiving to you and your family.

Andy Stewart from Exchange Capital Management sits down with Exponential's Phil Bak and Charles Ragauss to talk about the investing landscape. Highlights include:

• Complimenting ETFs with direct stock investing
• Concentration of cap weight indexes
• Tech stock valuations
• Active versus passive as a false debate
• The evolution and impact of commission free trading
• How to trade illiquid securities
• Currency- hedging International stocks

Phil is joined by Sal Gilbertie, Founder and CEO of Teucrium Trading to discuss commodities. The conversation highlights include:

• Our connection to commodities and how everything we touch comes from commodities
• Launching Teucrium Trading and their ETFs
• How to forecast commodity prices
• Technology in the agriculture industry
• Geo-politics and the trade wars – impact on agriculture prices
• Using commodities in modern portfolios
• Technical vs fundamental analysis to tactically trade commodities