Explore every episode of the podcast Two Quants and a Financial Planner
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| Practical Lessons from Michael Mauboussin | 23 Sep 2024 | 01:01:49 | |
In this episode of Two Quants and a Financial Planner, we dive deep into the investing wisdom of Michael Mauboussin, one of the most respected thinkers in finance. We revisit our interview with Michael and distill 10 key lessons that are still incredibly relevant for investors today. We explore crucial concepts like: The difference between investing and speculating Understanding expectations investing Why fundamentals still matter, even in today's market The paradox of skill in investing How to properly use multiples in valuation The challenges of active management in an increasingly passive world The usefulness (and limitations) of market forecasts The importance of base rates in decision making We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Quality and Low Volatility: The Factors That Get No Respect | 16 Sep 2024 | 01:00:10 | |
In this episode of Two Quants and a Financial Planner, we dive deep into the world of quality and low volatility factors in investing. We explore how these factors work, their academic foundations, and their practical applications in portfolio construction. We discuss the definitions of quality and low volatility, examining how they're measured and why they can be valuable additions to investment strategies. We also look at the behavioral aspects that make these factors effective, particularly in helping investors stick to their long-term plans. Using real-world examples, we analyze several ETFs that employ quality and low volatility strategies, demonstrating how to use tools like Validea to understand what's really going on under the hood of these funds. We examine sector exposures, factor tilts, and how these ETFs might fit into broader portfolio strategies. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Eight Things We Learned from Our Interview with Mike Green | Practical Takeaways for Investors | 15 Jul 2024 | 01:07:44 | |
In this episode, we dive into the key takeaways from our recent interview with Mike Green of Simplify. We explore several important lessons, including the need to be open-minded about new ideas in investing, the potential unintended consequences of passive investing, and the importance of looking beyond market aggregates. We discuss how these concepts apply to the average investor and what they mean in practical terms for portfolio management. We also touch on the double-edged nature of innovative investment products and caution against making hasty investment decisions based on election outcomes. Throughout the conversation, we emphasize the importance of understanding the "why" behind market movements and considering the practical implications of complex market dynamics for individual investors. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Our Biggest Takeaways from the First Half of 2024 | Inflation, Growth, Market Concentration | 08 Jul 2024 | 01:04:04 | |
In this episode, we take a look back at the first half of 2024 and examine some surprising trends in the economy and markets. We discuss how inflation has remained stickier than many expected, but wage growth has actually outpaced inflation for many workers. We analyze the extreme concentration of returns in the stock market, with a small number of large tech companies driving most of the gains while many stocks have declined. We also explore some unexpected developments in housing, bonds, and factor investing performance. Overall, we aim to provide context on what's really happening beneath the surface of headline numbers, challenge some common narratives, and remind listeners of the importance of long-term thinking when it comes to investing and financial planning. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Lessons From Our Interview with Rick Ferri | The Benefits of Simplicity | 01 Jul 2024 | 01:04:37 | |
In this episode, we dive into the key lessons from our recent conversation with Rick Ferri on the Excess Returns podcast. We explore Rick's approach to simple, low-cost investing and discuss how his insights apply to various investment strategies, including factor investing. We cover topics such as favoring simplicity, the enduring relevance of the 60/40 portfolio, the importance of fees, and looking to history for guidance. Throughout the discussion, we relate Rick's ideas to our own experiences in quantitative investing and financial planning, offering our perspectives on how these principles can be applied in practice. We also have some fun connecting each lesson to a KISS song. Our goal is to break down Rick's wisdom and show how it can benefit investors across different approaches and philosophies. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| A Practical Guide to the 4% Rule | 24 Jun 2024 | 00:59:34 | |
In this episode, we explore the 4% rule for retirement withdrawals, discussing its origins, applications, and limitations. We delve into the importance of considering individual circumstances, market conditions, and the ability to adjust withdrawal rates over time. We also discuss the challenges of unsustainable withdrawal rates and the balance between sustaining one's lifestyle and leaving money to heirs. Throughout the conversation, we stress the importance of financial planning that goes beyond simple calculations, taking into account real-world factors and personal goals. We conclude by highlighting the need for flexibility and ongoing adjustment in retirement planning, using both quantitative analysis and practical considerations to guide decision-making. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT | |||
| What You Need to Know About Analyzing Backtests | 17 Jun 2024 | 01:01:15 | |
In this episode of the podcast, we dive into the world of backtesting investment strategies. We discuss the importance of approaching backtests with a healthy dose of skepticism, as it's easy to create a backtest that looks impressive but may not hold up in the real world. We explore various questions to ask when evaluating a backtest, such as whether it accounts for human emotions, has a sound economic reasoning behind it, covers a sufficiently long time period, and includes periods of struggle. We also touch on the potential pitfalls of data mining and the challenges of creating a truly "pure" bet without unintended exposures. Throughout the conversation, we emphasize the need to understand the limitations of backtesting and to use it as a tool for learning rather than a definitive guide to future performance. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Timeless Investing Lessons | Breaking Down Corey Hoffstein's 15 Lessons from 15 Years Managing Money | 10 Jun 2024 | 00:54:26 | |
In this episode of Two Quants and a Financial Planner, we dive into Corey Hoffstein's insightful list of "15 Ideas, Frameworks and Lessons from 15 Years." We explore several key concepts, such as the transformation of risk, the necessity of pain to achieve premiums, and the philosophical limits of diversification. Through a mix of investing and real-life examples, we discuss how these ideas can be applied to both portfolio management and personal decision-making. Join us as we break down Hoffstein's thought-provoking lessons and share our own experiences in navigating the complex world of investing and financial planning. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Market is Expensive: Should You Care? | The Practical Implications of Market Valuation | 03 Jun 2024 | 01:03:07 | |
In this episode we dive into the world of market valuation. We look at the major valuation metrics used to value the market and what they are and are not useful for from an investing perspective. We also look at value spreads, cross country valuations and expected returns and delve into the practical applications of valuation data in financial planning, considering factors such as time horizons, liability-driven investing, and individual circumstances. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Q&A | ETFs vs Mutual Funds, Asset Location, Sizing Focused Factor Strategies, Direct Indexing | 27 May 2024 | 01:06:21 | |
In this episode of Two Quants and a Financial Planner, we delve into a diverse range of listener-submitted investing and financial planning questions with speclal guest Ben Tuscai. We cover the tax efficiency of ETFs compared to mutual funds, the pros and cons of having retirement savings in different account types (Roth, Traditional IRA, taxable), strategies for investing in AI and new technologies, considerations for the current housing market, and the benefits and drawbacks of direct indexing versus ETFs. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Investor Q&A | GameStop, Value Spreads, AI Backtesting and the Market as a Casino | 20 May 2024 | 00:58:13 | |
In this episode of Two Quants and a Financial Planner, we tackle a range of listener questions, from the recent resurgence of meme stocks like GameStop to the potential impact of the upcoming presidential election on investors. We discuss the role of small trading accounts, the pros and cons of generative AI in backtesting investment strategies, and the significance of value spreads. While we may not have clear-cut answers to every question, we believe that thinking through these complex issues and discussing them from various angles helps us grow as investors and thinkers, and we hope our listeners find value in these nuanced conversations. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Ten Lessons from Two Decades of Managing Money | 13 May 2024 | 01:04:28 | |
In this episode of Two Quants and a Financial Planner, we explore the biggest lessons we've learned throughout our careers in investing and financial planning. We discuss the importance of diversification, the challenges of balancing long-term strategies with changing market conditions, and the critical role of understanding an investor's true risk tolerance. We also discuss the principal-agent conflict, the potential pitfalls of relying solely on quantitative measures, and the necessity of adapting to an ever-evolving financial landscape. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Practical Lessons from Aswath Damodaran | 09 Sep 2024 | 01:03:19 | |
In this episode, we dive into key lessons from our recent Excess Returns interview with valuation expert Aswath Damodaran. We unpack Damodaran's insights on: Why dogma in investing can be dangerous The evolving landscape of active vs passive investing Challenges facing factor investing The critical role of storytelling in valuation How AI and 'personal bots' might reshape investing careers Focusing on wealth preservation and growth over get-rich-quick schemes We offer our own perspectives on Damodaran's thought-provoking ideas and discuss how they apply to today's investing environment. Whether you're a professional or individual investor, our discussion provides valuable food for thought on the future of valuation, investing strategies, and financial markets. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Lessons From 24 Market Experts | What We Learned From the 12 Hour PNL For a Purpose Livestream | 06 May 2024 | 01:09:37 | |
In this episode of Two Quants and a Financial Planner, we discussed the key insights and lessons learned from our 12-hour live podcast event, "PNL for a Purpose." Throughout the day, we interviewed 24 guests on a wide range of topics, including macro investing, quantitative investing, value investing, and technology. We delved into the importance of being open to changing one's opinion when presented with new evidence, the challenges of navigating the complexities of the current economic landscape, and the potential impact of AI on our future. Our conversations with these diverse experts provided valuable perspectives on risk management, long-term investing, and the need for adaptability in an ever-changing world. We hope our listeners found these discussions as engaging and informative as we did, and we encourage everyone to support the Susan G. Komen foundation through our ongoing fundraiser. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Fact or Fiction: Inflation, Taxes and That $4 Cup of Coffee | 29 Apr 2024 | 01:00:37 | |
In this episode of Two Quants and a Financial Planner, we return to our Fact of Fiction framework. We cover a diverse set of investing and financial planning topics that are on many investors' minds. We debate whether inflation can truly be predicted, if legendary investment managers are a thing of the past in today's market environment, and how much emphasis to place on fees and taxes when constructing an investment strategy. Additionally, we dig into the question of whether your house should be considered part of your overall investment portfolio and have some discussion on the age-old question of whether avoiding small purchases, like a daily $4 coffee, can really have a meaningful impact on your long-term wealth. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Double-Edged Sword of Trend Following | 22 Apr 2024 | 00:53:51 | |
In this episode of Two Quants and a Financial Planner, we dive deep into the world of trend following investment strategies. We explain what trend following is, discuss the potential benefits such as downside protection during bear markets, and explore some of the challenges involved, including false signals, whipsaw risk, and the difficulty of sticking with the strategy during underperforming periods. We also talk about how trend following can be incorporated as one component of a diversified investment portfolio and why the sizing and blending of strategies is so important. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Importance of Managing Drawdowns in Retirement | 15 Apr 2024 | 00:58:29 | |
In this episode of Two Quants and a Financial Planner, we dive into the important topic of withdrawal rates and retirement planning. We discuss how Monte Carlo simulations can help us understand the potential outcomes and risks associated with different withdrawal strategies. We also explore the concept of sequence of returns risk and how it can impact a portfolio's longevity. Additionally, we examine how utilizing different asset classes and employing factor investing can potentially enhance retirement outcomes. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT | |||
| An In Depth Look at Low Volatility Investing | 08 Apr 2024 | 00:57:05 | |
In investing, there is supposed to be a clear tradeoff between return and risk. Strategies that reduce risk are also supposed to come with a corresponding reduction in return But one factor defies that tradeoff. In this episode, we look at the low volatility factor. We discuss how it is measured, why it works and how it can be used in portfolios. We also examine some popular low volatility ETFs and look at the key criteria investors should look at when evaluating them. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Lessons from Danny Kahneman | Investing in Practice Rather Than Theory | 01 Apr 2024 | 00:54:14 | |
When we start in the investing world, many of us think building the perfect investment strategy is about data and numbers and theory. We think the strategy that works best on paper will also work best in the real world. But it doesn't work that way. And the main reason is that all of us are not what economic theory would call "rational actors". All three of us owe a huge debt to Danny Kahneman for his groundbreaking research that taught us that. Danny recently passed away and as a tribute to him and his work, we wanted to do an episode where we discuss the lessons we learned from him. We discuss system one and system two thinking, prospect theory, anchoring, the availability heuristic, the dangers of overconfidence and how we put all of it to use in the real-world building investment strategies and managing client portfolios. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Understanding the Measurement of Inflation | 25 Mar 2024 | 01:08:19 | |
With the rise of inflation in the past few years, many investors have been paying attention to metrics that they largely ignored for decades. Measures like the CPI and PCE have now become front page news when they are released each month. But despite quoting them all the time, many investors don't understand what goes into them and how they are calculated. In this episode, we try to correct that. We take a deep dive into the metrics that are used to measure inflation and the details behind them. We cover the CPI, PCE and the behind-the-scenes metrics like owner's equivalent rent that go into their calculation. We also look at more real time metrics like Truflation and look at what it all means from both an investing and financial planning perspective. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| 10 Lessons From Warren Buffett's Annual Letter | 18 Mar 2024 | 00:54:43 | |
Warren Buffett recently released his 2024 annual letter. And this one was a particularly notable one since it was the first since the passing of Charlie Munger. Buffett wrote a beautiful tribute to Munger in the letter and as is always the case also shared many timeless investing lessons. In this episode, we share our biggest takeaways from the letter and the lessons we think investors can learn from it. We hope you enjoy the discussion. SEE LATEST EPISODES https://excessreturnspod.com FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Ten Simple Lessons from Fama and French | 11 Mar 2024 | 01:03:24 | |
Academic research can seem inaccessible for many investors. But behind all the complicated concepts and formulas are usually some simple core lessons that all investors can benefit from. In this episode, we are joined by Alpha Architect's Jess Bost to help us pull those core lessons out of the work of Eugene Fama and Ken French. We discuss ten timeless lessons investors can take from their research and look at some simple examples that make them easy to understand. We also look at what it all means for investors from both a portfolio construction and financial planning perspective. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The S&P 500 Is Highly Concentrated | Should You Be Worried? | 04 Mar 2024 | 00:51:26 | |
The top ten companies in the S&P 500 currently represent 35% of the index. Some market pundits have talked about that being a significant risk factor for the market going forward. In this episode, we take a look at the facts to see if those concerns are warranted. We look at how the current level of concentration compares to history, whether the fundamentals of the biggest companies justify their valuations and what it all means for investors. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Case Against Value Investing | 03 Sep 2024 | 01:02:32 | |
In this episode, we tackle a question that is on many investor's minds: Is value investing dead? We explore various arguments for and against value investing's continued relevance in today's market. We discuss: The impact of low interest rates and Fed policy on value investing Whether too many investors have adopted value strategies How narrative-driven markets affect value investing The challenges value faces in a tech-dominated market The role of big data and its effect on traditional value metrics Whether value investing is betting against technological progress We aim to provide a balanced view, acknowledging the arguments on both sides. While we don't come to a definitive conclusion, we offer insights on how investors might think about value in their portfolios going forward. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| David Einhorn Says the Market is Broken | We Debate Whether He is Right | 26 Feb 2024 | 00:58:33 | |
In a recent appearance on the Masters in Business podcast, David Einhorn claimed that the stock market is broken. He discussed how he has adjusted his strategy to reflect his belief that the market doesn't seem to care about fundamentals anymore. In this episode, we take an in depth look at this idea and the facts both supporting and refuting it. We discuss how the rise of passive investing has changed the market, how that impacts fundamental investing and some potential changes fundamental investors can make to deal with the changing market. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Intentional Investor | Justin Castelli | 19 Feb 2024 | 01:10:40 | |
In the first episode of our new series, the Intentional Investor, Matt Zeigler sits down with RLS Wealth founder Justin Castelli to discuss his personal mission and the tools he uses to achieve it. They discuss Justin's life planning mission, why he prefers visions over goals, the $1,000,000 check he wrote to his future self and a lot more. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| The Elusive Definition of Risk | And How to Manage It | 12 Feb 2024 | 00:51:24 | |
We all know risk in investing when we see it. But defining it can be a much bigger challenge. In this episode, we work through the concept of risk from both an investing and financial planning perspective. We discuss the ways to measure it, how active investors can think about it, the importance of considering it in a behavioral context and a lot more. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Private Investing for the Average Investor | The Pros and Cons of Evergreen and Interval Funds | 05 Feb 2024 | 00:54:37 | |
Private equity, private credit and private real estate have traditionally been areas that are reserved for large investors and institutions. But new fund structures are beginning to change that. The question is whether that is a good thing or a bad thing for investors. In this episode, we are joined by Lee Boudouris to tackle that question. We take a detailed look at these asset classes in general, how the evergreen fund structures that have made them more accessible work and the things investors should keep in mind as they evaluate them. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Fact or Fiction: Limitations of the 60-40, Dave Ramsey's 8% Rule, Factor Investing, AI and More | 29 Jan 2024 | 01:05:47 | |
In our first "Fact of Fiction" episode, we tackle some of the questions we have been asked or have seen out in the world recently. We discuss whether stocks and bonds are sufficient in a portfolio, retirement planning, factor investing, whether an AI driven bubble could be coming. why there wasn't a #1 rap song in 2023 and a lot more. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| The Key Criteria to Look at When Evaluating Active ETFs | 22 Jan 2024 | 01:02:00 | |
Active ETFs have grown exponentially in recent years, especially in the equity space. One of the big benefits of that for investors in more investment strategies to choose from. The challenge, though, is that is can be hard to filter through them all to find the right strategy for a specific need. In this episode, we try to help solve that problem. We walk through the key criteria we look at when evaluating active ETFs from both and investing and financial planning perspective. We also work through some examples to show how we do it in practice. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Lessons from Launching (and Shutting Down) a Small-Cap Value ETF | 15 Jan 2024 | 01:01:34 | |
In this episode, we walk through our experience of launching a small-cap value ETF in 2014, running it for 6 years and then shutting it down in 2020. We look at what we learned from the experience and what investors can learn about how ETFs work behind the scenes from our experience. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Lessons from the Rise and Fall (And Rise Again?) of ARK | 08 Jan 2024 | 00:37:49 | |
Technology booms can lead to massive change in our society. They can also lead to huge profits for investors who invest in them. But those huge gains can also be followed by major losses when they inevitably run their course. There is probably no better way to understand the lessons for investors from these periods than to look at the story of ARK Investments. ARK's flagship innovation ETF generated eye popping returns in the years leading up to 2021. Then it gave many of those returns back as investors questioned whether the prospects if the companies it owned justified their high valuations. And then it bounced back in a big way in 2023, although it still sits well below its highs. In this episode, we use the story of ARK to highlight some of the most important lessons we think investors can learn about investing in innovation and concentrated strategies. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/ | |||
| Nine Investing and Life Lessons From 2023 | 01 Jan 2024 | 00:40:20 | |
2023 was a very interesting year in markets. The pessimism many investors had at the beginning of the year turned out to be unfounded as markets produced well above average returns. And the economy also remained more resilient than many thought, with inflation falling more than expectations throughout the year. Now that 2023 has come to a close, we wanted to take a look back and share the biggest lessons we learned from the year. We discuss what we learned in markets and what we learned in our lives and how that will inform our approach going forward. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Our 2024 Market Forecast | And Why You Shouldn't Listen to It | 27 Dec 2023 | 00:46:42 | |
Forecast season is once again upon is. It is the time of year where many market strategists will tell us where the S&P 500 will end 2024 and do it with conviction. There is just one problem. Almost all of them will be wrong. But despite the fact that the evidence that forecasting the market is a losing game, many of us who follow markets still think we can do it. So we decided that the best way for us to overcome that bias is to try to do it ourselves. In our first annual forecast episode, all 3 of us offer our 2024 forecasts for the market, the economy and a bunch of other things we have no business forecasting. We hope you will enjoy rubbing it our faces next year when we are proven wrong. We hope you enjoy the discussion. SEE LATEST EPISODES https://www.validea.com/financial-planning-podcast FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/ | |||
| Our Guests Gave Us 119 of Their Most Important Investing Lessons: We Give You Our Favorite 12 | 26 Aug 2024 | 01:11:43 | |
We ask all our guests on Excess Returns one closing question: If you could teach one lesson to the average investor, what would it be? In this episode of Two Quants and a Financial Planner, we compile and discuss the most impactful answers we have received to it. We break down valuable insights on investing and financial planning from experts like Michael Mauboussin, Rick Ferri, Bob Elliott, Andy Constan, Ben Inker, Meb Faber, and more. We cover a range of crucial topics, including: Michael Mauboussin: The importance of using base rates in decision making Rick Ferri: Why simpler investment strategies often work best Bob Elliott: How true diversification goes beyond just stocks and bonds Andy Constan: Why most investors don't actually have an edge Ben Inker: Understand who's on the other side of your trades and why they should give you a return Ehren Stanhope: The importance of position sizing and risk management Adam Butler: The future may be very different than the past Meb Faber: The benefits of being a long-term "Rip Van Winkle" investor Ben Carlson and Michael Batnick: Why there's no single perfect portfolio for everyone Chris Davis: Remembering that stocks represent ownership in real businesses Mike Green and Danial Crosby: Keeping investing in perspective with what truly matters in life Whether you're a seasoned investor or just getting started, this episode distills years of wisdom into actionable lessons to improve your financial decision making. We hope you enjoy this highlight reel of some of our favorite guest insights! We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Four Ways Value Investors Can Use Momentum | 18 Dec 2023 | 00:43:36 | |
Many value investors may see momentum as the antithesis of their approach to investing. But the reality is that there are a variety of ways that value investors can use momentum to enhance their approach. In this episode, we discuss four of them. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Evaluating Alternatives to the 60-40 Portfolio | 11 Dec 2023 | 00:51:08 | |
Stocks and bonds have their best returns in history over the past 40 years. But history tells us that the period is more the exception than the rule. With the outlook for stocks and bonds not looking as rosy as the past, many investors have questioned whether a portfolio consisting of just stocks and bonds is enough. In this episode, we tackle that question. We look at the future outlook for stocks and bonds and evaluate a variety of alternative strategies investors could consider. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| The Characteristics of a Good Investment Process - And How to Know When to Change It | 04 Dec 2023 | 00:42:08 | |
One of the most common pieces of advice given to investors is to have a process. But figuring out what that process should be is much more challenging. And determining when to change it is even harder. In this episode, we tackle both issues. We look at the characteristics of a good investment process. We also look at international diversification, the 60-40 portfolio and the struggles of value investing as examples of how to think about when to change it. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Year-End Investing and Planning Strategies | Portfolio Rebalancing, Tax Loss Harvesting and More | 27 Nov 2023 | 00:41:38 | |
As we approach the end of 2023, there are many considerations for investors both on the investing and the financial planning side. In this episode, Ben Tuscai returns to help us work through them. We discuss tax loss harvesting, how we look at the process of evaluating investment strategy changes, RMD considerations and a lot more. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| What Investors Need to Know About Momentum Investing | 20 Nov 2023 | 00:49:57 | |
In this episode, we take a deep dive into momentum investing. We discuss the different types of momentum, why it works, how it is measured and how it is used to construct portfolios. We also cover trend following, the behavioral challenges of momentum and how to think about momentum in the context of a financial plan. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau FOLLOW MATT LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| An Inside Look at the Quality and Low Volatility Factors | 13 Nov 2023 | 00:34:12 | |
Value and momentum might be the most popular factors with investors, but quality and low volatility also have significant research supporting them. In this episode we take a detailed look at the quality and low volatility factors. We discuss how they are defined, why the work and how they can be coupled with other factors like value and momentum. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Breaking Down Popular Value ETFs | 06 Nov 2023 | 00:39:11 | |
There is a tendency for investors to think that all value strategies are similar. But the reality is they can be very different. In this episode, we work through the major decisions that value managers make that lead to those differences and how they impact the strategies that result. We also take a deep dive into some popular value ETFs to see how the differences among value strategies can be measured and analyzed in the real world. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| How Couples Can Have Better Conversations About Money with Heather and Doug Boneparth | 30 Oct 2023 | 00:53:21 | |
In this episode, we are joined by Heather and Doug Boneparth, co-authors of the Joint Account blog. Heather and Doug share their own experience with respect to money in their marriage and what all of us can learn from it. We discuss how to better communicate about money at the different stages of relationships, having a CFO and a COO in a marriage, defining success and a lot more. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Is Value Investing Dead? A Quant and a Financial Planner Discuss | 23 Oct 2023 | 00:51:57 | |
With value investing now having struggled for over a decade, many are questioning whether the strategy has become permanently broken. In this episode we examine the arguments against value investing both from the perspective of a quant investor who builds value strategies and a financial planner who uses them. We look at the different types of value strategies and why value isn't just buying the cheapest stocks. We then get into the arguments against value and discuss whether value's popularity has destroyed its outperformance, if the Fed and market cycles have broken value and if technology's dominance can explain the struggles of the past decade.
SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Understanding the Business of Franchising with Ben Terrill | 16 Oct 2023 | 00:53:02 | |
In this episode, we look at the basics of franchising with FranNet's Ben Terrill. We discuss the types of businesses that can be setup via franchising, the pros and cons of the model vs. setting up a traditional business and how the economics work. We also talk about how starting a franchise can fit into a traditional financial plan.
SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| 10 Common Misconceptions About Factor Investing | 20 Aug 2024 | 01:02:39 | |
In this episode, we explore common misconceptions about factor investing. We discuss why factors aren't less risky than the market, the challenges of diversification, and why adding more factors isn't always beneficial. We emphasize the importance of long-term perspectives when evaluating factor performance and the need for strategies to evolve with changing markets. We also touch on the emotional aspects of factor investing, the differences between academic studies and real-world implementation, and emerging ideas about factor design. We hope you enjoy the discussion. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS FOLLOW JACK FOLLOW JUSTIN FOLLOW MATT
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| Investor Q&A | Going to Cash, Laddering Bonds, International Diversification, Narrow Leadership | 09 Oct 2023 | 00:52:45 | |
In this episode, we tackle some of the questions we have been hearing from investors in recent weeks. We discuss the desire to move into short-term bonds, whether a laddered bond portfolio can sustain a 4% withdrawal rate, the potential opportunity in international stocks, residential real estate and a lot more. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| Roth Conversions | What Investors Need to Know | 02 Oct 2023 | 00:47:17 | |
In this episode, we are joined by Sunpointe's Ben Tuscai to take a deep dive into Roth conversions. We discuss the criteria that investors can use to determine when the make sense and why they aren't used in the real world as often as you might think. We also discuss back door Roth conversions, mega back door Roth conversions, conversions inside employer plans and a lot more. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| The Many Sides of Diversification | Spreading Your Bets Across Stocks, Factors and Asset Classes | 25 Sep 2023 | 00:52:19 | |
The idea of diversification is simple. Most investors understand that spreading your bets and avoiding overconcentration is a good idea. But the details behind how to do that can be much more complicated. In this episode, we take a deep dive into diversification. We look at the number of stocks a portfolio needs to be diversified, the importance of factor diversification, whether a portfolio with only stocks and bonds can be considered properly diversified and why rebalancing is an essential part of diversification. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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| A Detailed Look at Direct Indexing | 18 Sep 2023 | 00:45:49 | |
Many believe that direct indexing will be the next big trend in investing. While it used to be reserved for high-net-worth individuals, zero commissions and the ability to trade partial shares has now brought it to the masses. But does it make sense for investors to utilize the strategy? As is usually the case with all investing tools, the answer is "it depends". In this episode, Lee Boudouris of Sunpointe Investment joins us to look at how direct indexing strategies work and the pros and the cons of the approach. SEE LATEST EPISODES FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FIND OUT MORE ABOUT SUNPOINTE INVESTMENTS https://sunpointeinvestments.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 FOLLOW MATT Twitter: https://twitter.com/cultishcreative LinkedIn: https://www.linkedin.com/in/matt-zeigler-a58a0a60/
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