Main Topics Covered:
- Meb Faber challenges the obsession with dividends
- Mike Green introduces Goodhart’s Law to investing, suggesting that once a metric is tracked, its effectiveness diminishes.
- Jim Paulsen downplays the importance of monetary policy and valuation, emphasizing Main Street sentiment over Wall Street metrics.
- Ben Carlson defends retail investors, claiming they’re better behaved than ever thanks to modern tools and advice.
- Dan Rasmussen disputes the predictability of growth, asserting past financials reveal little about a company’s future.
- Lindsay Bell and Shannon Saccocia advocate for learning through failure and a forward-looking, futurist mindset in investing.
- Cem Karsan flips the script, arguing options are the true underlying asset, not derivatives.
- Andrew Beer champions simplicity over complexity, citing the success of straightforward hedge fund bets.
- Jason Buck questions the existence of long-term alpha, favoring a diversified, rebalanced approach.
- Ian Cassel challenges the low-turnover mantra, suggesting high turnover can work.
- Scott McBride dismisses the need for catalysts in value investing, focusing on valuation and governance.
- Larry Swedroe critiques low-volatility strategies, arguing they only shine when paired with value.
- Kris Sidial highlights the importance of trading psyche, a view often dismissed by quant-driven peers.
- Kai Wu predicts AI will enhance, not replace, financial jobs by handling rote tasks and freeing humans for creativity.
- Doug Clinton forecasts a multi-trillion-dollar AI-powered asset management industry within a decade.
- Meb Faber (again!) flips the narrative on international investing, showing it’s a winner for 49 out of 50 countries.
00:02:28 - Meb Faber on why dividends are overrated
00:07:22 - Mike Green on Goodhart’s Law and passive investing’s impact
00:10:35 - Jim Paulsen on policy, valuation, and cultural sentiment
00:12:53 - Ben Carlson on well-behaved retail investors
00:15:32 - Dan Rasmussen on the unpredictability of growth
00:17:45 - Lindsay Bell and Shannon Saccocia on failure and futurism
00:20:38 - Cem Karsan on options as the underlying asset
00:26:15 - Andrew Beer on the power of simplicity
00:30:37 - Jason Buck on the myth of alpha
00:33:49 - Ian Cassel on turnover in microcap investing
00:35:46 - Scott McBride on value without catalysts
00:37:17 - Larry Swedroe on low-volatility pitfalls
00:41:49 - Chris Sidial on trading psyche
00:44:30 - Kai Wu on AI’s role in finance
00:49:55 - Doug Clinton on AI-driven asset management
00:51:53 - Meb Faber on international investing’s success
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