Excess Returns

Excess Returns

Excess Returns is an investing podcast hosted by Jack Forehand and Justin Carbonneau, partners at Validea Capital Management. Justin and Jack discuss a wide range of investing topics, including factor investing, value investing, momentum investing and behavioral finance, and talk to interesting guests with the goal of helping those who watch and listen become better long term investors.
We Asked Marc Rubinstein What Happens When the 16-Year Credit Cycle Finally Turns
Excess ReturnsMay 15, 202601:03:33

We Asked Marc Rubinstein What Happens When the 16-Year Credit Cycle Finally Turns

Marc Rubinstein joins Excess Returns to explain what private credit, bank earnings, insurance balance sheets, fintech growth, and arbitrage firms reveal about the modern financial system. The conversa...

We Asked a $4.5B Quant Manager Why the S&P 500 Is Just 46 Stocks — and Why Small Caps Aren't Dead
Excess ReturnsMay 08, 202601:02:47

We Asked a $4.5B Quant Manager Why the S&P 500 Is Just 46 Stocks — and Why Small Caps Aren't Dead

Elena Khoziaeva, Co-Chief Investment Officer and Portfolio Manager at Bridgeway Capital Management, joins Excess Returns to discuss factor investing, small caps, value investing, market concentration,...

We Asked Rich Bernstein Why He Won’t Own the S&P 500 — And What He Owns Instead
Excess ReturnsApril 29, 202601:02:25

We Asked Rich Bernstein Why He Won’t Own the S&P 500 — And What He Owns Instead

This episode explores one of the most important debates in markets today: whether investors are underestimating the risk of higher inflation and overconcentrating in a narrow group of growth stocks. R...

We Asked Chris Davis What Investors Are Getting Wrong About Risk
Excess ReturnsApril 27, 202601:02:33

We Asked Chris Davis What Investors Are Getting Wrong About Risk

This episode with Chris Davis of Davis Advisors explores how investors should think about risk, valuation, and opportunity in a market defined by high valuations, technological disruption, and major m...