Excess Returns Podcasts

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The Rally No One Trusts | What the Options Market Tells Us About What Comes Next
The OPEX EffectJune 14, 202500:59:29

The Rally No One Trusts | What the Options Market Tells Us About What Comes Next

In the latest episode of the OPEX Effect, Jack Forehand and Brent Kochuba dive deep into the dynamics shaping the current market regime, with a particular focus on the upcoming June OPEX, dealer posit...

Broken Data. Hidden Opportunity | GMO's Warren Chiang on Deep Value’s Historic Setup
Excess ReturnsJune 13, 202500:57:10

Broken Data. Hidden Opportunity | GMO's Warren Chiang on Deep Value’s Historic Setup

GMO’s Warren Chiang joins us for a deep dive into the art and science of systematic value investing. In this episode, Warren shares how his team has refined traditional value investing to adapt to an ...

The Hidden Risk Markets Are Missing | Peter Atwater
Excess ReturnsJune 11, 202500:59:24

The Hidden Risk Markets Are Missing | Peter Atwater

In this episode of Excess Returns, Matt Zeigler sits down with Peter Atwater—President of Financial Insyghts, author of The Confidence Map, and expert on decision-making under uncertainty. Peter lays ...

20,000 Watched in Silence. Then Buffett Dropped the Bombshell. | What It Means for Berkshire

20,000 Watched in Silence. Then Buffett Dropped the Bombshell. | What It Means for Berkshire

In this special episode of Excess Returns, Matt Zeigler is joined by Bogumil Baranowski to reflect on one of the most emotional and historic moments in financial history: Warren Buffett’s surprise ann...

$66 Billion. 17 Straight Outperforming Years | The Overlooked Strategy David Giroux Used To Do It
Excess ReturnsJune 07, 202501:01:02

$66 Billion. 17 Straight Outperforming Years | The Overlooked Strategy David Giroux Used To Do It

David Giroux, CIO and Head of Investment Strategy at T. Rowe Price Investment Management, has achieved something rare in investing—beating his Morningstar peer group for 17 consecutive years. In this ...

The $9 Trillion Risk | Rupert Mitchell on What Follows US Dominance
Excess ReturnsJune 06, 202500:53:34

The $9 Trillion Risk | Rupert Mitchell on What Follows US Dominance

In this episode of Excess Returns, Matt Zeigler sits down with Rupert Mitchell—founder of Blind Squirrel Macro—for an insightful, opinionated, and often humorous discussion on global market dynamics, ...

Inside a Top Quant's Playbook | Joe Gubler on the Hidden Drivers of Alpha
Excess ReturnsJune 04, 202501:07:41

Inside a Top Quant's Playbook | Joe Gubler on the Hidden Drivers of Alpha

🎙️ Inside Causeway’s Quant Playbook | Joe Gubler on Factor Innovation, Risk, and Portfolio Design In this episode of Excess Returns, we sit down with Joe Gubler, Director of Quantitative Research at ...

Big Decline. Big Rally. What the Charts Tell Us About What Comes Next | Katie Stockton
Excess ReturnsJune 02, 202500:54:59

Big Decline. Big Rally. What the Charts Tell Us About What Comes Next | Katie Stockton

In this episode of Excess Returns, we welcome back Katie Stockton, founder and managing partner of Fairlead Strategies, for a deep dive into the current state of the market through the lens of technic...

The Stimulus Illusion: Why Decades of Spending Didn’t Spur Growth | Rob Arnott
Excess ReturnsMay 31, 202500:55:41

The Stimulus Illusion: Why Decades of Spending Didn’t Spur Growth | Rob Arnott

In this episode of Excess Returns, we welcome back Research Affiliates founder Rob Arnott to explore his provocative research challenging mainstream economic assumptions. Rob walks us through why gove...

The Big Beautiful Debt Delusion | The Real Risk Behind Tax Cuts and Deficits
Click BetaMay 29, 202501:07:26

The Big Beautiful Debt Delusion | The Real Risk Behind Tax Cuts and Deficits

In this episode of Click Beta, Dave Nadig, Matt Zeigler, and Jason Buck go deep on the messy realities of U.S. fiscal policy, the politics of taxation and spending, and what it really means to “get ou...

The Hidden Logic of Options | Put-Call Parity Explained with Legos

The Hidden Logic of Options | Put-Call Parity Explained with Legos

In this episode of Teach Me Like I'm 5, options expert Kris Abdelmessih breaks down one of the most foundational—and misunderstood—concepts in options trading: put-call parity. Using Lego analogies, h...

The Passive Distortion: What it Means for Investors | Practical Lessons from Mike Green

The Passive Distortion: What it Means for Investors | Practical Lessons from Mike Green

In this episode of Excess Returns, we explore the profound impact of passive investing with one of the most provocative thinkers in the space—Mike Green. Mike has developed a framework that challenges...

Too Much Google, Tesla, Nvidia? | Wes Gray & Srikanth Narayan Explain a Smarter Way Out
Excess ReturnsMay 24, 202500:56:54

Too Much Google, Tesla, Nvidia? | Wes Gray & Srikanth Narayan Explain a Smarter Way Out

In this episode of Excess Returns, we dive deep into one of the most complex and pressing issues facing successful investors today: what to do with concentrated stock positions. Whether from employee ...

Decoding Volatility with the Rule of 16 | Teach Me Like I'm Five

Decoding Volatility with the Rule of 16 | Teach Me Like I'm Five

In this episode of our new show Teach Me Like I'm 5, we’re joined by Mat Cashman, Principal of Investor Education at the OCC, to break down a powerful yet often overlooked concept in options trading: ...

The Hidden Retirement Risk - And How to Manage It | Practical Lessons from Wade Pfau

The Hidden Retirement Risk - And How to Manage It | Practical Lessons from Wade Pfau

In this episode of Excess Returns, we dive deep into the fundamentals of retirement planning with one of the most respected researchers in the field—Wade Pfau. Wade is known for blending rigorous acad...

The Fourth Turning is Here | Neil Howe Explains What Comes Next
RabbitholeMay 17, 202500:52:37

The Fourth Turning is Here | Neil Howe Explains What Comes Next

For commentary and full transcript, visit https://www.nadig.com What does it mean to come of age during chaos—and how does that shape the generations who must lead us through it? In this thought-provo...

The Hidden Trade War Opportunity | Kai Wu on the Real Edge Investors Are Missing
Excess ReturnsMay 14, 202500:56:06

The Hidden Trade War Opportunity | Kai Wu on the Real Edge Investors Are Missing

In this episode of Excess Returns, Kai Wu of Sparkline Capital returns to break down his latest research piece, Investing Amid Trade Wars. Using over two dozen insightful visuals, Kai explores how inv...

The Number Go Up Regime - And What Comes After It | Practical Lessons from Ben Hunt & Grant Williams

The Number Go Up Regime - And What Comes After It | Practical Lessons from Ben Hunt & Grant Williams

In this episode, we dive deep into some of the most thought-provoking ideas from two of the most original minds in investing: Ben Hunt and Grant Williams. Through a curated selection of powerful clips...

The Fragile Rally | What the Options Market Tells Us About What Comes Next
The OPEX EffectMay 10, 202501:03:38

The Fragile Rally | What the Options Market Tells Us About What Comes Next

In this episode of Excess Returns, Jack Forehand and Brent Kochuba from SpotGamma break down the forces at play beneath the surface of the market as we head into the May 2025 options expiration (OPEX)...

The Retail Rally Trap | Kris Sidial on Volatility, Liquidity and What Comes Next
Excess ReturnsMay 05, 202500:59:53

The Retail Rally Trap | Kris Sidial on Volatility, Liquidity and What Comes Next

In this episode, Kris Sidial joins Jack Forehand and Brent Kochuba to break down the mechanics of tail risk hedging, why most volatility strategies fail, and how his team approaches dislocations in th...

Mag Seven Margin Crunch | Cameron Dawson on Tariffs, Recession Risk and the Defensive Investing Trap
Excess ReturnsMay 03, 202500:51:51

Mag Seven Margin Crunch | Cameron Dawson on Tariffs, Recession Risk and the Defensive Investing Trap

Are we heading toward a recession—or just stuck in macroeconomic purgatory? In this episode of Excess Returns, Dave Nadig and Matt Zeigler sit down with Cameron Dawson, CIO of NewEdge Wealth, to explo...

The Domino's Recession Indicator | The Risks Markets Are Missing
Click BetaMay 02, 202500:59:37

The Domino's Recession Indicator | The Risks Markets Are Missing

In this episode of Click Beta, Matt Zeigler, Dave Nadig, and Jason Buck dive into the complex state of the U.S. economy — from recession signals and tariffs to shifting consumer behavior and surprisin...

The Market's Best-Kept Secret | Travis Prentice on Momentum's Surprising Edge
Excess ReturnsApril 30, 202500:50:45

The Market's Best-Kept Secret | Travis Prentice on Momentum's Surprising Edge

In this episode of Excess Returns, Justin and Jack welcome Travis Prentice from Informed Momentum Company to discuss the ins and outs of momentum investing. Travis brings nearly three decades of momen...

The Irrecoverable Error | Risk, Ruin, and the Rules of Wealth | Practical Lessons from Guy Spier

The Irrecoverable Error | Risk, Ruin, and the Rules of Wealth | Practical Lessons from Guy Spier

Full Talking Billions Interview https://www.youtube.com/watch?v=UPknZT0tVhE Full Excess Returns Interview https://youtu.be/yVdQVu0j_gg In this episode, Matt Zeigler and Bogumil Baranowski dive deep in...

The Monumental Miscalculation | Jared Dillian on Tariffs, Fed Risks, and Where Markets Go from Here
Excess ReturnsApril 26, 202500:54:23

The Monumental Miscalculation | Jared Dillian on Tariffs, Fed Risks, and Where Markets Go from Here

Join hosts Matt Ziegler and Jack Forehand as they interview Jared Dillian (@DailyDirtNap on Twitter) for a fascinating discussion on current market conditions, macroeconomic trends, and controversial ...

An Unprecedented Lack of Liquidity | What the Options Market Tells Us About What Comes Next
The OPEX EffectApril 19, 202500:59:36

An Unprecedented Lack of Liquidity | What the Options Market Tells Us About What Comes Next

In this episode of The OPEX Effect, Jack and Brent dive deep into the market turmoil following "Liberation Day" and the implementation of new tariffs. With volatility spiking to levels not seen since ...

The Dark Side of Value Investing | Practical Lessons from Aswath Damodaran

The Dark Side of Value Investing | Practical Lessons from Aswath Damodaran

Full Interview on Talking Billions https://youtu.be/7UEb_JEbeAE Full Interview on Excess Returns https://youtu.be/JMlAi0B-rlE Join Matt Zeigler and Bogumil Baranowski as they play our favorite clips f...

Behind the Scenes of the Madoff Scandal with a Trader Who Worked There | Andrew Cohen
Excess ReturnsApril 14, 202500:59:55

Behind the Scenes of the Madoff Scandal with a Trader Who Worked There | Andrew Cohen

In this episode of Excess Returns, Matt Zeigler sits down with Andrew Cohen, who shares his extraordinary journey from Goldman Sachs trader to working directly with Bernie Madoff, and ultimately becom...

The Colossal Mistake | Richard Bernstein on the Risks of Tariffs and Passive Investing
Excess ReturnsApril 12, 202500:55:21

The Colossal Mistake | Richard Bernstein on the Risks of Tariffs and Passive Investing

Join hosts Matt Zeigler and Justin Carbonneau as they sit down with Richard Bernstein, CEO and Chief Investment Officer of Richard Bernstein Advisors. In this insightful conversation, Rich shares his ...

Markets Are Screaming One Thing | Jim Paulsen on the Real Risk to the Bull Market
Excess ReturnsApril 09, 202501:02:50

Markets Are Screaming One Thing | Jim Paulsen on the Real Risk to the Bull Market

In this episode of Excess Returns, we are joined by Jim Paulsen of Paulsen Perspectives. We unpack the complexities of tariffs, Federal Reserve policies, and investor psychology amidst a turbulent mar...

Tax Holy Grail? The Hidden ETF Strategy Nobody Talks About | Brent Sullivan
RabbitholeApril 08, 202500:29:18

Tax Holy Grail? The Hidden ETF Strategy Nobody Talks About | Brent Sullivan

For transcripts, commentary and further reading, visit https://www.nadig.com/ Join Dave Nadig as he dives deep into the complex world of ETF tax strategies with expert Brent Sullivan from Tax Alpha In...

The Hidden Fingerprints of 100 Baggers | Chris Mayer on How to Find Them Before Everyone Else
Excess ReturnsApril 07, 202501:01:51

The Hidden Fingerprints of 100 Baggers | Chris Mayer on How to Find Them Before Everyone Else

In this episode of Excess Returns, Matt Zeigler is joined by special co-host Bogumil Baranowski to sit down with Chris Mayer. As the author of the acclaimed book 100 Baggers: Stocks That Return 100-to...

The Benefits of Simplicity in Bear Markets | Rick Ferri on Why This Time Isn't Different
Excess ReturnsApril 05, 202500:53:57

The Benefits of Simplicity in Bear Markets | Rick Ferri on Why This Time Isn't Different

In this episode, we are joined by Rick Ferri, a renowned advocate for low-cost, evidence-based investing. With the market in the midst of a significant selloff, it was a great time to get Rick’s pract...

The Inflection Point | What Tariffs Actually Mean for the Economy

The Inflection Point | What Tariffs Actually Mean for the Economy

In this episode, dive into the complex world of tariffs, national debt, and economic policies under the current administration. With the S&P down 4% and markets reacting to recent policy shifts, we br...

A MasterClass from History’s Best Traders | Practical Lessons from Jack Schwager

A MasterClass from History’s Best Traders | Practical Lessons from Jack Schwager

In this episode, Matt and Jack dive into the timeless wisdom of Jack Schwager, renowned author of the Market Wizards series. Drawing from two insightful interviews with Schwager, they explore key less...

The Tail Risk Tipping Point
Click BetaMarch 29, 202501:14:27

The Tail Risk Tipping Point

Join Matt Zeigler, Jason Buck, and Dave Nadig in this unfiltered and dynamic episode of Click Beta from Excess Returns. Feeling "stupid and exhausted" from their daily grind in markets and business, t...