Off The Wall

Monument Wealth Management
  • 5.0 (32)
  • Investing
  • Updated Monthly

Markets are noisy. Your time is limited. OFF THE WALL cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic. Connect with us on Instagram @MonumentWealth or on LinkedIn at Monument Wealth Management. Thanks for joining us!

  1. 4d ago

    What Is Direct Indexing? (And Why It Beats a Regular Index Fund)

    Market pullbacks may actually work in your favor at tax time, if your portfolio is set up to take advantage of them. That's where direct indexing comes in. It's not about trying to time the market. It's a disciplined way to capture tax losses along the way, while helping to keep your investment mix and expected returns where you want them.  In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA break down why direct indexing is far more than a tax tool; it's a customizable strategy for every stage of your financial life. They explain how to build a "tax war chest" to offset future windfalls, ways to transition between portfolios or advisors without triggering a massive tax hit, and how to think about withdrawing cash in retirement. The TLDR: Direct indexing turns market sell-offs into tax-saving opportunities without pulling you out of the market. Whether you're building wealth, switching strategies, or funding retirement, harvesting losses helps keep your return profile intact and give you more control over your  tax bill. Investing is not just about what you make; it's about what you get to keep.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:  1:28 - Why Direct Indexing Matters 3:04 - How Tax Loss Harvesting Works 8:37 - The Hidden Value Of Customization 11:57 - Accumulation Phase And Tax War Chest 16:07 - Switching Advisors Without A Tax Bomb 21:57 - Retirement Cash Needs And Tax Control 24:41 - Timing Withdrawals To Maximize Offsets 26:18 - Important Disclosures 27:01 - Pogo Stick Analogy And Wrap-Up   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin.   Learn more about our hosts on our website at https://monumentwealthmanagement.com

  2. Jul 28

    The AI "Bubble" and Private Equity Hype

    Everyone's talking about an "AI bubble." Is it real? David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM look at what the actual earnings data says — and it tells a different story than the headlines. This episode also covers SpaceX's stock drop, and why 95% of the company's shares are still locked up and can't be sold yet. Dave and Nate walk through what that means for anyone thinking about buying in now. They also get into private equity: why it's being pushed so hard to individual investors right now, and the real cost of locking up your money for seven years to get in. The takeaway: don't let headlines or hype set your investment strategy. Understand the actual data, stay disciplined, and keep your options open. Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures Episode Timeline/Key Highlights: 00:00 - A Volatility Reality Check 0:21 - Welcome And Why SpaceX Matters 3:59 - AI Bubble Claims Put To Data 8:30 - Semiconductors Cool Off And IPOs Wait 14:05 - Concentration Risk In The S&P 500 18:45 - SpaceX Price Drop And The Float Problem 22:25 - Staying Invested Through Normal Drawdowns 24:03 - Lockups, Liquidity Events, And Timing 27:57 - Space Exposure Via ETFs Plus Mag 7 Check 29:50 - FOMO, Feelings, And Long-Term Odds 29:51- Why Private Markets Get Pushed 31:22 - The Seven-Year Wait And Opportunity Cost 36:03 - When Alternatives Can Actually Fit 41:30 - How To Send Questions And Subscribe 42:08 - Required Investing Disclosure Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/ About "Off the Wall": Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin. Learn more about our hosts on our website at https://monumentwealthmanagement.com

  3. Jul 10

    Q2 Market Recap & The "Everything Bagel" Portfolio

    Small caps ripped. Gold fell. Bitcoin argued with itself. David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA break down what actually drove Q2 returns — corporate earnings, not headlines — and why the "Everything Bagel" approach to diversification just proved its worth again. No hot takes. Just the data behind small caps outrunning big tech and nobody talking about it.      Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:   00:00 - Speculation Has No Earnings 00:28 - Q2 Review Kickoff And Quick Sports Talk 02:32 - The Quarter's Surprise Winners 06:07 - Earnings Boom Bonds Lag Gold Falls 11:22 - Bitcoin As Risk Asset Debate 12:56 - Valuations Concentration And Market Breadth 19:13 - Diversification Still Works 27:34 - Inflation Expectations And Fuel Spillover 34:35 - Ignoring Headlines And Staying Long Term 36:57 - AMA Requests And Closing   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":  Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic.   Learn more about our hosts on our website at https://monumentwealthmanagement.com

  4. Jun 25

    Why Your Portfolio Needs a Personal Trainer

    You can get a perfect workout plan and still never get in shape. The science is right there. The exercises are correct. But knowing what to do and actually doing it when you don't feel like it are two completely different problems. That's why personal trainers exist — not to hand you better information, but to make sure you show up and follow through. Investing works the same way. In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM make the case that behavior — not strategy — is the real variable in investment returns. They break down dollar-cost averaging as a structural accountability tool, walk through what the Vanguard lump-sum data actually says (and the hidden assumption most people skip over), and show how pre-set triggers turn market sell-offs into buying opportunities instead of reasons to freeze. The TLDR: the best investment strategy isn't the one with the highest expected return. It's the one you'll actually stick with when the market is down and your instincts are telling you to do something about it. Because in investing, you don't win in the spreadsheet. You win in the chair.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights: 0:33 — Vinyl And Setup 2:42 — Volatility Makes Cash Decisions Hard 3:06 — Dollar Cost Averaging Explained Simply 5:35 — Why 401(k) Autopilot Works 6:57 — Vanguard Data And The Hidden Assumption 10:10 — DCA Triggers To Buy Selloffs 12:30 — Experience Changes How Pullbacks Feel 15:06 — Stop Hunting For The Perfect Bottom 17:50 — Missing Best Days And Political Noise 24:20 — Time Horizons And Cash As An Asset 29:57 — Dalbar Study And The Value Of Advice 24:20 — Wrap-Up Plus AMA Call For Questions   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic.   Learn more about our hosts on our website at https://monumentwealthmanagement.com

  5. Jun 11

    The SpaceX IPO: Should Investors Get in Early?

    The SpaceX IPO may be one of the most anticipated market events of the year, but does that mean investors should rush to participate? In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA challenge some of the biggest assumptions surrounding IPOs, including the belief that buying on day one means getting in early. They explore what history says about IPO performance, why patience can be an advantage, and how investors can gain exposure without getting caught up in the news headlines. They also unpack the market's recent volatility, the surprising sector shifts happening beneath the surface, and why they believe that adaptability is the key to long-term investment success.   Episode Timeline/Key Highlights: 00:00 - Cold Open And Disclosures 00:27 - AMA Format And Today's Two Questions 01:30 - SpaceX IPO Hype Vs Reality 04:35 - IPO Returns Stats And Lockup Pressure 1255 - Institutions, Allocations, And Retail FOMO 17:35 - Index Funds, ETFs, And Long-Term Exposure 23:53 - Market Volatility And Sector Whiplash 26:52 - Earnings Strength And A Data Process 30:47 - REIT Trivia, Listener Questions, And Subscribe     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures       Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic.   Learn more about our hosts on our website at https://monumentwealthmanagement.com

  6. May 28

    The Hidden Cost of Tracking the Market

    Many investors see passive investing as the safest, most cost-effective way to build wealth. In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA challenge that assumption by pulling back the curtain on what can happen to passive investors when the market turns. They break down the hidden risks of matching a benchmark exactly, exploring how a 20% market drop means an automatic 20% hit to your personal wealth if you don't have an active strategy behind you. They cover boredom mindsets, as well as answering the question: Should you be an active or passive investor? The goal of finding the cheapest solution is too simplistic and comes with unnecessary risk. The more strategic goal is to build a portfolio that actively protects your financial freedom.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:  00:00 - Disclosures And Warm Open 01:58 - Active Vs Passive Defined Clearly 03:58 - The V8 Portfolio And Manager Discipline 15:16 - Passive Investing And The Boredom Trap 19:25 - Taxes, Turnover, And Account Type 21:35 - Actively Managing ETFs For Diversification 27:32 - Emerging Markets Breakdown And What Works 32:59 - Listener Questions, Contact Info, Closing Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic. Learn more about our hosts on our website at https://monumentwealthmanagement.com

  7. May 14

    The $2 Trillion Shift: CapEx, the Fed, and AI

    Something big is happening in corporate America, and it's barely making headlines. In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA break down one of the most interesting stories in Q1 earnings: companies are pouring money into long-term growth instead of handing it back to shareholders. CapEx is up 38%. Buybacks? Up just 1%. They unpack what that means, who's doing the spending, and why the 35-year playbook of returning cash to shareholders may be getting rewritten. Then the conversation shifts to the Fed. Chairman Powell is out, and Kevin Warsh is in. Dave and Nate walk through who Warsh is, why his background is an important piece of the conversation, and what a more flexible, less predictable Fed chair could mean for interest rates, inflation, and your wealth strategy. Finally, they tackle a listener question about using AI to evaluate a portfolio. It's a genuinely useful data collection tool when applied correctly. But when a study shows AI trading bots losing a third of their capital in two weeks across 32 separate tests, the limits become hard to ignore. Dave and Nate break down exactly where AI earns its place in the investment process, where it falls short, and how Monument is actually applying it when it comes to managing your portfolio.       Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:   0:00 - Disclosures and Quick Premise  0:26 - AMA Agenda and Market Backdrop  1:46 - Earnings Surprise: CapEx Beats Buybacks  4:06 - Hyperscalers and the AI Spend Cycle  8:12 - Momentum Over Predictions in Portfolios  19:54 - Market Seasonality, Iran, and Staying Invested  23:23 - New Fed Chair and Independence  32:14 - Inflation, Oil, and Rate Decision Uncertainty  36:46 - AI Use Cases and Hallucination Risk  46:22 - Why Trading Bots Often Lose Money  48:06 - Send Questions, Subscribe, and Closing   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic. Learn more about our hosts on our website at https://monumentwealthmanagement.com

  8. May 4

    The Biggest Myths About Portfolio Income

    Most investors think their portfolio needs to "pay them" in income. In this episode of Off The Wall, Nate Tonsager, CIPM®, CFA and Dave Armstrong, CFA challenge one of the most common investing habits: chasing income. They walk through how yield gets calculated, why it spikes for the wrong reasons, and how investors end up taking on more risk than they might realize.  They also break down why and how total return drives real outcomes for your financial freedom. Next, the conversation goes deeper into real-life decisions: how much to withdraw, how to think about gifting, and how to make sure your money supports your life while you're here to enjoy it.  The goal isn't to maximize income but to build a portfolio that works for you.      Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:   00:00 - Disclosures and Big Picture 00:34 - The Myth About Portfolio Income 01:57 - Total Return in Plain English 10:37 - Sustainable Withdrawal Rate Reality 13:25 - Giving With A Warm Hand 21:16 - Rules Of Thumb And Real Life 23:35 - Listener Questions And Wrap Up Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts Dave Armstrong, CFA and Nate Tonsager, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic.   Learn more about our hosts on our website at https://monumentwealthmanagement.com

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5
out of 5
32 Ratings

About

Markets are noisy. Your time is limited. OFF THE WALL cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic. Connect with us on Instagram @MonumentWealth or on LinkedIn at Monument Wealth Management. Thanks for joining us!

Information

  • Creator
    Monument Wealth Management
  • Years Active
    2021 - 2026
  • Episodes
    95
  • Rating
    Clean
  • Copyright
    © Monument Capital Management
  • Show Website
    Off The Wall

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