155 episodes

Welcome to Gestalt University, hosted by the team at ReSolve Asset Management, where evidence inspires confidence. This podcast will dig deep to uncover investment truths and life hacks you won't find in the mainstream media, covering topics that appeal to left-brained robots, right-brain poets and everyone in between. In this show, we interview deep thinkers in the world of quantitative finance such as Larry Swedroe, Meb Faber and many more, all with the goal of helping you reach excellence. Welcome to the journey.

Resolve's Gestalt University ReSolve Asset Management

    • Business
    • 4.4 • 15 Ratings

Welcome to Gestalt University, hosted by the team at ReSolve Asset Management, where evidence inspires confidence. This podcast will dig deep to uncover investment truths and life hacks you won't find in the mainstream media, covering topics that appeal to left-brained robots, right-brain poets and everyone in between. In this show, we interview deep thinkers in the world of quantitative finance such as Larry Swedroe, Meb Faber and many more, all with the goal of helping you reach excellence. Welcome to the journey.

    GestaltU with Alfonso Peccatiello on the Timing and Magnitude of Recession

    GestaltU with Alfonso Peccatiello on the Timing and Magnitude of Recession

    Alfonso – also known as MacroAlf – joined Adam and Mike to discuss his most recent report entitled “Yes, But When Recession?” Our conversation covered:
    Alf’s experience managing a $20B multi-asset book at a global bank Experience launching an independent macro newsletter for greater freedom of views Benefits of interacting with central bankers, regulators and senior officials at the bank Currently focused on recession – when and how bad will it be? Economic, social and market impacts of recessions How recession might change the Fed’s reaction function Powell and other central bankers questioning the benefits of QE and whether Fed may have a different reaction function this time Exploring the pros and cons of QE Why banks lend, and why they didn’t want to lend over the past decade of QE? Powell’s focus on Volcker and implications for policy trajectory Expectations for a second leg down and the 2000 – 2002 analog What happens in bear markets after Fed pivots? Prospects for a longer, grinding bear market Impact of high returns on cash competing with low returns on real estate and other risk assets Character of stock market bottoms in a cyclical downturn Market indicators of recession and inflation risk using Alf’s Volatility Adjusted Market Dashboard Negative credit impulse signaling recession in Q2 2023 Impact of rate of change vs level of credit given enormous surge in bank reserves in 2020 Leading indicators suggesting recession in late Q2 2023 Housing market and Sahm Rule implying recession in Q2 2023 Expectations for returns on stocks, bonds and other assets over the next several years *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

    • 54 min
    ReSolve Riffs with Mark Yusko on FTX, Responsible Crypto Innovation and the Future of Finance

    ReSolve Riffs with Mark Yusko on FTX, Responsible Crypto Innovation and the Future of Finance

    Our guest this week was Mark Yusko, founder, chief investment officer and managing director of Morgan Creek Capital Management. With deep experience in both digital assets and traditional finance, Mark took us on a rollercoaster as we dissected the recent turmoil affecting the ‘crypto-verse’. Topics included:
    A post-mortem of the FTX debacle – an evolving situation with many missing pieces The sequence of events that led to the debacle Why Mark passed on the opportunity to invest… three times Useful idiots? Conspiracy theories versus actual conspiracies You can’t ban a decentralized system, but you ‘assassinate its character’ The due diligence failure of high-profile capital allocators Fiduciary responsibility gone awry Parallels with other frauds and characters An analogy between digital assets and the Eurodollar system Bitcoin as the base layer of a future monetary system Displacing trust with truth Innovation – why timing is key Exciting ventures and projects for the coming years With every investment we get richer or wiser… never both And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.
     
    *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

    • 1 hr 34 min
    ReSolve Riffs with Mark Rzepczynski on Trend, Alternative Diversifiers, and Manager Selection

    ReSolve Riffs with Mark Rzepczynski on Trend, Alternative Diversifiers, and Manager Selection

    It was our great privilege to welcome Mark Rzepczynski this week. Mark has over 25 years of experience in financial markets, is a former finance professor and writes frequently about global markets and quantitative investing. Our conversation covered:
    His early years, ‘forged in the chaos of the trading pits’ Pursuing a PhD and recognizing a career in research was not for him Working for John Henry – an apprenticeship in trend following Finding one’s comparative advantage and sticking to it Why trend following had a bad reputation when the Efficient Market Hypothesis (EMH) was still regarded as the law of the land Trend following as the first derivative of the EMH Understanding how markets actually behave, as opposed to how they should Prices are primal Uncertainty as the gap between what you don’t know and what you should know The interplay between price action and narrative Specialists can be tremendously myopic, while trend followers seek to be the ultimate, rules-based generalists Black Box vs Glass Box Trend following as a signal to noise problem The dirty secret of trend-following – when most of the money is actually made And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.
     
    *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

    • 1 hr 52 min
    ReSolve Riffs with Mike Green on the Visible Hand, a Passive Singularity, and Pivoting to Optimism

    ReSolve Riffs with Mike Green on the Visible Hand, a Passive Singularity, and Pivoting to Optimism

    We have been eagerly waiting for this one for a while! Our friend Mike Green, Chief Strategist and Portfolio Manager at Simplify Asset Management, returned to the podcast this week. Always thought-provoking, Mike journeyed with us through a wide range of topics that included:
    Why the enthusiasm for central bank intervention is so asymmetric Options trading and the wild swings in Zero Days to Expiration Options (0DTE) Statistical anomalies in the labor market The primary drivers of inflation in the 1970s A comparison between Volcker and Powell Monetary policy as a blunt tool and powerful opioid – numbing investors and delaying reforms Tax arbitrage by big corporations and why they must end A path to political moderation in the US Why tighter monetary policy may be the wrong policy right now A criticism of the Fed – authority, legitimacy, and reach Reasons for underinvestment in US energy production Why the capital allocation process in the US economy is largely broken An update on the recent dynamics of passive investment vehicles Home ownership, nimbyism, and affordability The importance of the Minsky Framework for the current environment “If you’re not doing macro, macro is doing you” And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.
     
    *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

    • 2 hrs 12 min
    ReSolve Riffs with Cem Karsan on Regime Change and Strategies to Navigate an Inflationary Decade

    ReSolve Riffs with Cem Karsan on Regime Change and Strategies to Navigate an Inflationary Decade

    It was our great pleasure to welcome back Cem Karsan (also known as @jam_croissant on Twitter), Founder and Sr. Managing Partner at Kai Volatility Advisors. This deeply insightful conversation included topics such as:
    A recap of the last few months in equity markets Volume-weighted time and why seasonality matters more than most people know The acceleration of gamma, vanna and charm – a dangerous time to be short equities Dealer positioning as a major gravitational force in markets, often overlooked The ‘game of chicken’ played between speculators, hedgers and market makers Less ‘put hedging’ begets the currently very low skew observed Why the first and last two weeks of a year are so important The large impact of retail speculative activity and challenges to market makers Households still sitting on very large excess savings, which is often making its way into equity markets Buy the dip – investors’ conditioning over the last 40 years The risk of another lost decade for equity investors Millennials vs Boomers – a generational tussle Why the American dream has become increasingly unattainable to most And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.
     
    *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.

    • 1 hr 44 min
    ReSolve Riffs with Darius Dale @42Macro - Catching up with Global Assets and Economic Conditions

    ReSolve Riffs with Darius Dale @42Macro - Catching up with Global Assets and Economic Conditions

    Our guest this week was Darius Dale, founder and CEO of 42 Macro, an investment research firm focused on macroeconomics. Our conversation covered topics including:
    How higher inflation leads to higher inflation volatility and increased risk premia The core drivers of inflation and where the data currently points Complacency followed by overshooting – the central bank dichotomy Don’t count on a pivot anytime soon – why Powell is determined to “break things” An uncomfortable trade-off – under inflation, central banks can have price or financial stability, not both Signs the US economy is still firing on all cylinders Strong balance sheets and perhaps the strongest labor market in living memory Why cash has once again taken the throne The demise of the 60/40 portfolio Energy markets dynamics – from geopolitics to ESG Why a structural undersupply of labor reduces the probability of a recession The dysfunctional combination of tighter monetary and looser fiscal policies And much more This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.
     
    *ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.
     

    • 1 hr 10 min

Customer Reviews

4.4 out of 5
15 Ratings

15 Ratings

nikkie204 ,

Ignore the Negative Reviews

Definitely one of the must listen to finance podcasts IMO.

AndyMac6200 ,

Great information

Really in-depth discussions with amazing guests. Highly recommend.

dave_the_cat ,

Reinforcing Gender Inequality?

I’m a long time fan of your podcasts, articles and your book, and was an investor in one of your funds at one time. But I quit listening to this podcast about half way through.

Addressing someone by their surname, as you did with Fed Chair Jerome Powell, denotes a position of power or respect. Yet when it came to Treasury Secretary Janet Yellen, she was continuously referred to by her first name, by your guest and one of the hosts. That false familiarity implicitly diminishes her authority and accomplishments.

I’m sure it was inadvertent, and perhaps it doesn’t seem like a big deal, but given the size of your audience, it serves to reinforce the barriers women face in the financial industry and society in general.

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