The Bull of Wall Street

The Bull of Wall Street
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This podcast takes a unique approach in discussing various topics that are of interest to financial advisors and investors. The hosts Jimmy Lee, CEO, The Wealth Consulting Group (WCG), Jim Worden, CFA, CAIA, CMT, Chief Investment Officer (WCG), and Tally Léger, Chief Market Strategist (WCG) will have discussions that concern the markets, economy, strategies, financial planning, taxes, and life. The information herein is for informational and entertainment purposes and intended for use by advisors only, and should not be copied, reproduced, or re-distributed without the consent of WCG.

  1. Sep 23

    Ep. 86: AI's Next Decade, the Memory Supercycle, and Launching Yorkville Ives, with Dan Ives

    In episode 86, hosts Jimmy Lee, Jim Worden, and Paisley Nardini welcome back Dan Ives, who appeared on theshow's very first episode and has since left Wedbush Securities to launch Yorkville Ives & Co., a new merchant bankfocused on technology, energy, and infrastructure. They discuss how his outlook on the AI investment cycle hasevolved, the debate over sovereign AI and data protection, and how election-cycle politics could shape AI policy.They also cover a possible memory chip supercycle, a shift in relative opportunity from hardware toward software,energy and grid infrastructure as a growing bottleneck, healthcare as an industry poised for major AI-drivendisruption, and how advisors might think about diversifying AI exposure beyond mega-cap technology. -  Dan Ives says the AI investment cycle he once framed as a five-year buildout now looks more like a ten-to-twelve-year cycle, and he estimates the industry is only around 15 percent of the way through thespending he expects to see. -  He points to “sovereign AI,” companies and countries wanting their own data protected rather thanabsorbed into outside frontier models, as a growing theme shaping both policy and corporate strategy.-  On AI regulation, Dan Ives argues that politicizing the issue carries real risk, since slowing US progressmainly narrows the competitive gap with China rather than making AI safer.-  He sees a possible memory chip supercycle underway, arguing that current AI-driven demand couldreduce the historical boom-and-bust cyclicality typical of that part of the semiconductor industry.-  Dan Ives says he currently sees more relative opportunity in software than in chipmakers over the next sixto twelve months, as AI use cases mature and some software names that pulled back earlier this yearcatch up.-  He flags energy and grid infrastructure, including the buildout gap between the US and countries likeChina, as one of the more significant bottlenecks, and potential opportunities, tied to the AI cycle.-  Asked which industry is least prepared for AI-driven disruption, Dan Ives points to healthcare, citing thegap between cutting-edge AI tools and the day-to-day reality of clinical practice.-  On portfolio construction, Dan Ives suggests advisors look beyond mega-cap technology to sectors likedefense, industrials, energy, and utilities that he views as indirect beneficiaries of AI infrastructurespending. Hosts: Jimmy Lee, Founder & CEO, The Wealth Consulting Group; Jim Worden, Chief Investment Officer, TheWealth Consulting Group; and Paisley Nardini, CFA, CAIA, Head of Investment Strategy at Tema ETFs. Guest: Dan Ives, Partner and Senior Managing Director, Yorkville Ives & Co. If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you nevermiss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group,subscribe to our mailing list at bit.ly/wealthcg. Making Life Better at The Wealth Consulting Group. The Wealth Consulting Group is an SEC registered investment advisor and the opinions voiced and contents in thispodcast are for general information only and are not intended to provide specific advice or recommendations orany individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and maynot be invested into directly. The economic forecasts set forth in this material may not develop as predicted andthere can be no guarantee that strategies promoted will be successful.

    Ep. 86: AI's Next Decade, the Memory Supercycle, and Launching Yorkville Ives, with Dan Ives

  2. Sep 16

    Ep. 85: Factor Investing, Avoiding Value Traps, and AI in Asset Management, with Avantis CIO Eduardo Repetto (09/16/26))

    In episode 85, hosts Jim Worden and Paisley Nardini are joined by Eduardo Repetto, Chief Investment Officer of Avantis Investors, for a conversation on factor-based investing and portfolio construction. They discuss how Avantis grew to roughly $170 billion in assets in the seven years since its launch, how the firm defines value differently than some industry benchmarks, and how it tries to avoid classic value traps. They also cover how Avantis uses advisor and client feedback to guide new product development, where AI fits into an asset manager's day-to-day work, and Eduardo's perspective on long-term return expectations for stocks versus bonds.  Eduardo Repetto says Avantis has grown to roughly $170 billion in assets under management in the seven years since its 2019 launch, which he attributes to competitive pricing, strategy quality, and service rather than any single secret.  He describes Avantis's approach to value investing as more holistic than some industry benchmarks, weighing a company's full financial picture (balance sheet and cash flows together) rather than a single metric, which he says helps avoid classic value traps.  On portfolio construction, Eduardo Repetto notes that a security's weight in a portfolio should shrink as its price falls, cautioning that a naive, equally weighted approach can compound losses in a deteriorating position.  He says Avantis develops new products by listening to recurring needs from advisors and clients, pointing to two recently launched lower-tracking-error strategies as an example of demand-driven product development.  On AI, Eduardo Repetto describes it as a productivity tool that can speed up tasks like first-draft research and presentations, while cautioning that outputs still need to be checked, citing a case where AI produced an inaccurate description of his own firm.  He discusses Avantis's relationship with parent company American Century Investments, including American Century's structure as a private company whose controlling shareholder is a nonprofit medical research institute.  Looking at current bond yields relative to history, Eduardo Repetto says he remains more constructive on long-term equity returns, while acknowledging markets will always have periods of volatility and eventual drawdowns.  Hosts: Jim Worden, Chief Investment Officer, The Wealth Consulting Group & Paisley Nardini, CFA, CAIA, Managing Director, Simplify Asset Management.  Guest: Eduardo Repetto, Chief Investment Officer, Avantis Investors.  If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you never miss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group, subscribe to our mailing list at bit.ly/wealthcg. Making Life Better at The Wealth Consulting Group.  The Wealth Consulting Group is an SEC registered investment advisor and the opinions voiced and contents in this podcast are for general information only and are not intended to provide specific advice or recommendations or any individual.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

    Ep. 85: Factor Investing, Avoiding Value Traps, and AI in Asset Management, with Avantis CIO Eduardo Repetto (09/16/26))

  3. Sep 3

    Ep. 84: Sudden Wealth Syndrome, Raising Money-Smart Kids, and NIL Education for Athletes, with Tom Henske (recorded 09/03/26)

    In episode 84, host Jimmy Lee is joined by Tom Henske, CFP and founder of The Affluent Insurance Advisor, for a wide-ranging conversation on sudden wealth, financial literacy, and building a referral-driven practice. They discuss what sudden wealth syndrome looks like and why it isn't limited to lottery winners, how Tom built Total Cents to help parents teach kids about money, and how his Athlete Edge program is bringing financial education to college athletes navigating name, image, and likeness deals. They also cover the case for partnering with centers of influence like accountants and attorneys, and Tom's take on how AI is likely to reshape the wealth management business.  Tom Henske describes "sudden wealth syndrome" as a pattern that shows up whenever money arrives faster than someone is prepared for it, from a first bonus or tax refund to an inheritance or a sold business, not just lottery winnings.  He built his book and program "It Makes Total Cents" around short, question-based conversations parents can have with kids about money, after noticing how many clients complained that their kids didn't understand the value of a dollar.  Tom Henske's "Athlete Edge" program brings a financial literacy curriculum to college athletic departments navigating name, image, and likeness (NIL) deals, an area he says gained urgency after seeing athletes make costly spending decisions with new NIL income.  He notes he deliberately doesn't take student athletes on as financial planning clients, which he believes is part of why universities are comfortable bringing him and partnering advisors into athletic departments.  On practice growth, Tom Henske emphasizes building relationships with a client's other professional advisors, such as accountants and estate planning attorneys, as a way to earn referrals from a single relationship rather than one client at a time.  On AI, he expects it to compress advisory margins over time as clients get more from AI tools directly, but he doesn't expect it to replace high-end advisors who provide more than portfolio management.  Jimmy Lee and Tom Henske discuss using AI-assisted exercises, like a visual "vision board," to help clients articulate long-term goals as part of the planning relationship.    Host: Jimmy Lee, Founder & CEO, The Wealth Consulting Group  Guest: Tom Henske, CFP, Founder, The Affluent Insurance Advisor.    If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you never miss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group, subscribe to our mailing list at bit.ly/wealthcg.  Making Life Better at The Wealth Consulting Group.  The Wealth Consulting Group is an SEC registered investment advisor and the opinions voiced and contents in this podcast are for general information only and are not intended to provide specific advice or recommendations or any individual.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

    Ep. 84: Sudden Wealth Syndrome, Raising Money-Smart Kids, and NIL Education for Athletes, with Tom Henske (recorded 09/03/26)

  4. Aug 27

    Ep. 83: Building Enterprise Value, Multi-Generational Growth, and the Case for Outsourcing, with First Trust VP Jackie Wilke (recorded 08/27/26)

    In episode 83, host Jimmy Lee is joined by Jackie Wilke, Vice President and Advisor Consultant with First Trust's Advisor Consulting Group, for a wide-ranging conversation on practice management for financial advisors. They discuss what actually drives enterprise value and succession readiness, how to grow through multi-generational family relationships, and how AI is starting to show up in client conversations. They also cover why outsourcing portfolio management can free up an advisor's time, what separates the fastest-growing advisor teams, and the opportunity ahead for women entering the profession.  Jackie Wilke cites data showing 41% of industry assets are currently managed by advisors on track to retire within the next decade, and that roughly 30% of advisors planning to retire within five years don't yet have a succession plan in place.  In her view, enterprise value largely comes down to whether a practice could keep running smoothly for six months without its lead advisor: documented processes, clearly defined team roles, and multi-generational relationships on both the team and client side.  First Trust's "family phone call" is a low-pressure, resource-based way for a team to introduce itself to a client's family well before a wealth transfer event, rather than reaching out for the first time after a client has passed away.  On AI, Jackie Wilke suggests advisors who embrace the technology may gain an edge over those who don't, though she doesn't see it replacing the advisor relationship, especially for clients navigating complex, non-financial decisions.  Jimmy Lee and Jackie Wilke discuss how many of the strongest-growing advisor teams outsource or delegate work outside their "zone of genius," such as research, trading, and portfolio construction, to protect time for client relationships.  Jackie Wilke references a Fidelity study suggesting advisors who outsource investment management to model portfolios can gain roughly 10 hours back per week.  The conversation closes on the opportunity for more women to enter financial advising, along with practical ideas for engaging female clients and their broader family and professional networks.    Host: Jimmy Lee, Founder & CEO, The Wealth Consulting Group.  Guest: Jackie Wilke, Vice President & Advisor Consultant, First Trust Advisor Consulting Group.  If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you never miss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group, subscribe to our mailing list at bit.ly/wealthcg. Making Life Better at The Wealth Consulting Group.  The Wealth Consulting Group is an SEC registered investment advisor and the opinions voiced and contents in this podcast are for general information only and are not intended to provide specific advice or recommendations or any individual.  All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

    Ep. 83: Building Enterprise Value, Multi-Generational Growth, and the Case for Outsourcing, with First Trust VP Jackie Wilke (recorded 08/27/26)

  5. Aug 19

    Ep. 82: Factor Rotation, AI Chip Competition, and What's Driving the Market Higher (recorded 8/19/26)

    In episode 82, Talley Leger and Jim Worden of The Wealth Consulting Group host a two-person deep dive (no outside guest this week) on investment factors, AI-driven competition, and market valuation. They discuss how momentum, value, and quality factors have been rotating, why rising competition from Chinese semiconductor and AI model makers could reshape today's market leaders, and what the relationship between earnings growth and interest rates suggests about where valuations stand. They close with a look at improving breadth in small-cap stocks as a signal for market health.  - Jim Worden notes that momentum, unlike other factors, can go through sharp pullbacks and equally sharp recoveries, and that disciplined trimming of names that get overextended is part of The Wealth Consulting Group's risk management process.  - The hosts discuss a shift where some value-oriented technology names have started participating alongside momentum, which they view as a sign of broadening market strength rather than concentration in a handful of names.  - Jim Worden flags rising competition from Chinese semiconductor and AI model makers as a factor that, in his view, could reshape today's market leaders over the next couple of years.  - Talley Leger shares a framework comparing corporate earnings growth to interest rates, and suggests that strong aggregate earnings growth this year has, in his analysis, been outpacing the rise in bond yields, helping keep valuations from looking as stretched as prior market peaks.  - Talley Leger references preliminary model work suggesting equity valuations may still have room to run before reaching more stretched territory, while cautioning the analysis isn't finalized.  - On Fed policy, Talley Leger suggests that Fed Chair Warsh's approach of pulling back from detailed forward guidance has shifted more weight onto financial conditions (bond yields, the dollar, credit markets) as a signal for the economic outlook.  - Both hosts note that strength in the Russell 2000 has been broadening beyond a small handful of names, which they view as a healthier signal for the market than narrow, concentrated gains.  Hosts: Talley Leger, Chief Market Strategist, The Wealth Consulting Group & Jim Worden, Chief Investment Officer, The Wealth Consulting Group.  If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you never miss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group, subscribe to our mailing list at bit.ly/wealthcg. Making Life Better at The Wealth Consulting Group.

    Ep. 82: Factor Rotation, AI Chip Competition, and What's Driving the Market Higher (recorded 8/19/26)

  6. Aug 12

    Ep. 81: Fed Guidance, the K-Shaped Economy & the AI Investment Boom, with Fundstrat Economics Strategist Hardika Singh (recorded 08/12/26)

    In episode 81, hosts Talley Leger and Jim Worden of The Wealth Consulting Group welcome Hardika Singh, economics strategist at Fundstrat and a former Wall Street Journal and Bloomberg reporter, for a wide-ranging conversation. The group discusses how a shift away from traditional Fed forward guidance may be adding uncertainty to markets, why the economy appears to be splitting along income lines (the so-called “K-shaped economy”), and how heavy AI-related capital spending is showing up in tech earnings and the bond market. They also compare notes on how to think about highly ambitious, early-stage companies as a category, and what labor-market and demographic shifts could mean for advisors working with clients navigating a generational wealth transfer.  - Hardika Singh suggests that pulling back on forward guidance may be adding to bond-market uncertainty, since investors have historically relied on that guidance to set expectations. In her view, the underlying data doesn't clearly support a rate hike right now.  - The group discusses the “K-shaped economy,” a pattern where higher-income consumers and large tech companies continue to show strength, while smaller businesses and lower-income households appear more pressured by inflation and higher rates.  - Heavy AI-related capital spending is showing up in the earnings and debt markets of large technology companies, which the group discusses as a potential signal worth watching for the broader economy.  - The conversation touches on how to think about highly ambitious, early-stage companies as a category, including the idea that a small number of “moonshot” bets have historically paid off for a handful of large companies, with a caution that valuation and timeline expectations still matter.  - Hardika Singh points to soft wage growth as a reason she isn't currently concerned about a wage-driven inflation spiral, even against recent jobs data some have read as strong.  - The episode explores record levels of cash sitting in savings, money markets, and CDs, and discusses possible reasons this cash hasn't moved into markets the way some expected.  - Hardika Singh notes that women are expected to be significant beneficiaries of the coming generational wealth transfer, and suggests advisors build those relationships early.  Hosts: Talley Leger, Chief Market Strategist, The Wealth Consulting Group & Jim Worden, Chief Investment Officer, The Wealth Consulting Group.   Guest: Hardika Singh, Economics Strategist, Fundstrat.  If this conversation was useful, follow The Bull of Wall Street on Apple Podcasts, Spotify, or YouTube so you never miss an episode. And for more market insights and practice-growth strategies from The Wealth Consulting Group, subscribe to our mailing list at bit.ly/wealthcg. Making Life Better at The Wealth Consulting Group.

    Ep. 81: Fed Guidance, the K-Shaped Economy & the AI Investment Boom, with Fundstrat Economics Strategist Hardika Singh (recorded 08/12/26)

  7. Aug 5

    #80 - Jonathan Golub, Chief Equity Strategist at Seaport Research Partners: AI, Earnings, Valuations, and the Changing Market Regime (recorded 08/05/26)

    In this episode of The Bull of Wall Street, Talley Leger and Jim Worden welcome Jonathan Golub, Chief Equity Strategist at Seaport Research Partners, for a discussion on artificial intelligence, corporate earnings, valuations, interest rates, market concentration, and the forces influencing equity markets.Jonathan explains how Seaport uses AI to process large datasets and produce customized portfolio research while preserving human judgment in the investment process. He also shares his view that the current capital spending cycle may support earnings across technology, industrials, financials, and other related industries, while higher interest rates could continue to pressure valuation multiples. Key Takeaways AI may help analysts scale research without replacing investment judgment.Market returns reflect changes in both earnings expectations and valuation multiples.Jonathan believes the AI capital spending cycle could support several areas of the economy.Rising rates may affect longer-duration technology valuations.Rate of change can matter more than the absolute level of growth.Speculative investments may trade independently of current cash flows.Historical averages can obscure extended market regimes.Index labels do not always provide the diversification investors expect.Consumer sentiment and equity market performance may reflect different parts of the economy.Jonathan discusses why strong fundamentals may persist even when short-term sentiment weakens.This material is provided for informational and educational purposes only. The views and forecasts discussed are those of the speakers as of the recording date and are subject to change. Nothing in this episode should be considered investment, tax, or legal advice, or a recommendation to buy or sell any security. Investing involves risk, including possible loss of principal. Chapters02:05 Seaport’s approach to institutional research04:50 Using AI to scale portfolio analysis09:21 Personalized research for institutional clients12:38 Building market targets from earnings and valuations15:21 Interest rates and equity duration17:04 Margin expansion and earnings power18:10 The AI capital spending cycle20:35 Speculation, leverage, and cash flow analysis26:03 Evaluating companies without current earnings28:07 Market regimes and long-term return expectations32:15 Why rate of change matters33:37 Semiconductor growth and changing expectations38:41 Sentiment versus long-term cash flows41:50 Inflation, capital demand, and interest rates45:06 What advisors are hearing from clients49:42 Consumer sentiment and market representation51:51 Contrarian investing and changing conditions57:09 Index construction and market concentration01:02:12 Understanding what diversification actually provides GuestJonathan Golub, Chief Equity Strategist, Seaport Research Partners HostsTalley Leger' Chief Market Strategist, The Wealth Consulting GroupJim Worden, Chief Investment Officer, The Wealth Consulting Group Follow UsFollow The Bull of Wall Street for market perspectives, advisor insights, and conversations with industry professionals.bit.ly/wealthcg Making Life BetterAt The Wealth Consulting Group, our mission is to help make life better through thoughtful guidance, informed conversations, and access to perspectives that may help advisors and investors better understand changing markets.The opinions expressed by guests are their own and do not necessarily reflect the views of The Wealth Consulting Group. Past performance does not guarantee future results.

    #80 - Jonathan Golub, Chief Equity Strategist at Seaport Research Partners: AI, Earnings, Valuations, and the Changing Market Regime (recorded 08/05/26)

  8. Jul 31

    #79 - John Diehl & Dr. Joe Coughlin (recorded 07/30)

    Dr. Joseph Coughlin and John Diehl: Longevity, Aging, and the Future of Financial AdviceSummary In this episode of The Bull of Wall Street, Jimmy Lee sits down with Dr. Joseph Coughlin, Founder and Director of the MIT AgeLab, and John Diehl, Senior Vice President of Applied Insights at Hartford Funds, for a conversation about longevity and what living longer may mean for individuals, families, and financial advisors. They explore elder care, housing, transportation, social connection, and the financial and personal considerations that can accompany a longer life. The conversation also examines how longevity may reshape financial advice itself. From preparing families for caregiving decisions to understanding the role of women in longevity planning and considering how artificial intelligence may change the advisor-client relationship, Dr. Coughlin and John discuss why planning for the future can extend well beyond investment portfolios. What you'll learn: Longevity planning is broader than retirement planning. Caregiving can become increasingly complex. Retirement may represent a substantial portion of adult life. Housing deserves an earlier conversation. Transportation can affect independence. Social connection is part of longevity planning. Women play a significant role in longevity decisions. AI may change financial advice without eliminating the need for human relationships. Advisors may serve as connectors to information and resources. Planning begins with the life a client wants to build. Chapters 02:09 Hartford Funds and the origins of its MIT AgeLab relationship 05:31 How the MIT AgeLab began 10:47 Understanding elder care and caregiving 13:14 The four characteristics of caregiving 18:22 How longevity has changed 20:38 Rethinking the traditional retirement narrative 23:38 The 8,000-day framework 26:47 Life tomorrow and quality of life 30:05 Measuring preparedness for longevity 31:27 How longevity may reshape every stage of life 34:03 The light bulb: planning where you will live 37:52 The ice cream cone: transportation, access, and everyday joy 42:10 Lunch: maintaining social connections 46:55 Why the future of longevity is female 52:31 AI and the future of financial advice 54:58 Combining technology with human advice 58:29 Financial advisors as longevity planners 59:10 Hartford Funds resources for financial professionals 01:00:00 The puzzle box and defining what matters Guests: Dr. Joseph Coughlin, Founder and Director, MIT AgeLab, Author of The Longevity Economy and co-author of Longevity Hubs: Regional Innovation for Global Aging John Diehl, Senior Vice President, Applied Insights, Hartford Funds Host: Jimmy Lee, CEO, The Wealth Consulting Group Follow us LinkedIn: The Wealth Consulting Group X (Twitter): @WealthCG YouTube: @thewealthconsultinggroup   Making Life Better at The Wealth Consulting Group   If you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice, and your life, better. Subscribe at bit.ly/wealthcg

    #79 - John Diehl & Dr. Joe Coughlin (recorded 07/30)
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About

This podcast takes a unique approach in discussing various topics that are of interest to financial advisors and investors. The hosts Jimmy Lee, CEO, The Wealth Consulting Group (WCG), Jim Worden, CFA, CAIA, CMT, Chief Investment Officer (WCG), and Tally Léger, Chief Market Strategist (WCG) will have discussions that concern the markets, economy, strategies, financial planning, taxes, and life. The information herein is for informational and entertainment purposes and intended for use by advisors only, and should not be copied, reproduced, or re-distributed without the consent of WCG.

Information

  • Creator
    The Bull of Wall Street
  • Years Active
    2024 - 2026
  • Episodes
    85
  • Rating
    Clean
  • Copyright
    © The Bull of Wall Street
  • Show Website
    The Bull of Wall Street

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