Orion's The Weighing Machine Orion Portfolio Solutions

Investing in the stock market can be tricky. With so many different strategies available, it can be difficult to know where to start. Considering the current rollercoaster scenario in the market, how can investors make informed decisions about buying and selling assets and maximize their returns?
In this episode, Rusty and Robyn talk with David Lundgren, Founder and Chief Market Strategist at MOTR Capital Management and Research. David is a 30-year investment industry veteran focusing on technical analysis strategies, particularly momentum and trend following. He is the former Director of Technical Research at Wellington Management and held senior analyst positions at Fidelity & Thomson Financial.
With a demonstrated history of working in the investment management industry, David talks about technical analysis, momentum and trend following, and his outlook for stocks, bonds, cryptocurrencies, and commodities for 2023.

Key Takeaways

[04:29] - David's career history in the investment management industry.

[07:54] - How David defines technical analysis.

[10:48] - What it takes to be a successful technical analyst.

[12:21] - The strengths and weaknesses of technical analysis.

[14:45] - The different schools of thought in technical analysis.

[17:11] - What to do when trend following fails.

[19:42] - The best allocation of trend following and technical analysis in a portfolio.

[23:41] - How a CMT differs from a CFA.

[26:09] - What is the CMT Association?

[27:21] - A sneak peek at this year's CMT Symposium.

[28:57] - The top charts to watch in 2023.

[31:38] - How David's multiframework approach works.

[33:06] - Among David's favorite equity stocks for 2023.

[35:48] - David's outlook for the bond market.

[39:27] - What Dave thinks about bitcoin and cryptocurrencies.

[43:13] - David's favorite investment idea for 2023.

[45:25] - How David maintains his energy to perform at a high level.

[47:31] - The people David is thankful for professionally.

[49:07] - David's recommendations for content.


Quotes
[08:18] - "Most money managers are schooled in the principles of fundamental analysis, capital asset pricing theory, dividend discount models, and other traditional fundamental analysis techniques. Unfortunately, almost 90% of active managers underperform their benchmark using the tools they learn in business school." ~ David Lundgren
[09:30] - "The market is the best fundamental analyst on the planet. Listen to what the market's trying to tell. And the best way to do that is to identify trend change and stay with the trend as long as the trend changes and goes in the other direction." ~ David Lundgren
[26:58] - "There's a big hole in the body of knowledge of most investors, which contributes to their difficulty in keeping pace with the benchmark. That hole can be filled with a better understanding of technical analysis." ~ David Lundgren

Links 

David Lundgren on LinkedIn

David Lundgren on Twitter

MOTR Capital Management & Research

Charting My Interruption

Tick Tick Boom by The Hives

Fidelity Investments

Wellington Management

Fill The Gap Podcast

CMT Association

The 2023 Annual Symposium

Ralph Acampora

Reminiscences of a Stock Operator

How I Made $2,000,000 in the Stock Market

Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies

The Art of Execution: How the World’s Best Investors Get It Wrong and Still Make Millions

No One Would Listen: A True Financial Thriller


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Rusty Vanneman

Robyn Murray


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0032-OPS-1/6/2023

Sustainable investing has gained significant traction as more investors integrate environmental, social, and governance (ESG) factors into their investment decision-making process. Although there are many different sustainable investing strategies that investors can choose from, they are all intended to generate long-term financial returns while creating a positive impact on society and the environment.
In this episode, Rusty and Robyn talk with Venk Reddy, Chief Investment Officer of Sustainable Credit at Osterweis Capital Management. Venk joined Osterweis Capital Management in 2022 as part of the Zeo Capital Advisors team transition, where he brings knowledge and experience in credit investing and absolute return investing. 
Also a portfolio manager for sustainable credit strategies, Venk talks with Rusty and Robyn about what sustainable investing means, how sustainable credit differs from green bonds, and what catalysts could make sustainable investments a hit.

Key Takeaways

[01:06] - The top things to watch in 2023.

[02:45] - What brought Venk to Osterweis.

[04:48] - What sustainable investing means.

[07:12] - How sustainable credit differs from green bonds.

[10:38] - Venk's insights into the future growth of the ESG market.

[12:30] - How investors should allocate their funds to ESG investments.

[14:12] - The catalysts that could make sustainable investments a hit.

[19:42] - Venk's outlook on interest rates and sustainable income.

[27:44] - One of Venk's favorite investments.

[29:47] - How Venk maintains his physical and mental health to perform at a high level.

[32:27] - What Venk has to say about the people he works with.

[34:16] - Content recommendations from Venk.


Quotes
[06:41] - "Our goal is to align performance and progress. But to align performance and progress, you need a situation in which the investments you're making are truly impacted by the management team's decision to make more progress and improve their standing along the categories of risk that they have." ~ Venk Reddy
[12:17] - "The more investors focus on ESG as a risk, the larger that market becomes. Not because the market's getting bigger but because people realize that this approach is as appropriate for traditional portfolios as it is for mission-driven ones." ~ Venk Reddy
[18:02] - "Security selection matters when people think it matters, and risk is a long-term concept. Once we get to a place where that's the discussion around ESG, risks, and sustainability, the market will grow substantially." ~ Venk Reddy
 
Links 

Venk Reddy on LinkedIn

Osterweis Capital Management

It's The End Of The World As We Know It (And I Feel Fine)

Zeo Capital Advisors

Carl Kaufman

Howard Marks

Michaels Stores

The Intelligent Investor by Benjamin Graham


Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts


Mindset: The New Psychology of Success

Blindspot: Hidden Biases of Good People


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Rusty Vanneman

Robyn Murray


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0034-OPS-1/6/2023

It’s that time of year again! Investors and market analysts are looking ahead to the coming year, and 2023 is shaping up to be an exciting year for the economy. Looking ahead, what factors will likely shape the market, and how can advisors utilize them to their advantage?
In this episode, Rusty and Robyn talk with Kim Arthur, President and CEO of Main Management, LLC. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida. He has been profiled in Index Universe articles and referenced in Barron’s, Wall Street Journal, Business Week, and Fortune Magazine. 
Kim talks with Rusty and Robyn about his outlook on inflation, the U.S. economy and corporate earnings, and the U.S. and international markets. As a portfolio manager, Kim also speaks about how investors should allocate their funds to international stocks and what advice he gives to investors in times of geopolitical crisis.

Key Takeaways

[03:24] - Kim's role at Main Management and what the firm is all about.

[05:39] - Main Management's outlook on inflation.

[07:20] - How investors should treat their bond allocations.

[08:47] - Kim's outlook for the U.S. economy and corporate earnings.

[11:01] - Kim's views on the U.S. and non-U.S. stock markets.

[18:35] - How investors should allocate their funds to international stocks.

[20:36] - Kim's advice to investors in times of geopolitical crisis.

[22:40] - Kim's favorite investment strategy.

[24:55] - A regimen that keeps Kim on top of his game.

[26:57] - The people Kim is grateful to professionally.

[28:42] - Kim's recommendation for content.


Quotes
[15:52] - "The U.S. dollar is the number one predictor of the international stock market outperforming the U.S. stock market. So if you're in a strong U.S. dollar environment, no matter how much you stomp your feet and want the U.S. market to underperform, it will not." ~ Kim Arthur
[21:26] - "Investors need to realize that when geopolitical crises happen, you want to be putting money into the market because almost 12 or 24 months later, you're up significantly from those periods when they went down. It shows the tenacity and the growth mindset of the globe that when these things happen, everybody gets together and works to find a solution to that problem." ~ Kim Arthur
[22:10] - "In the equity market, fear is temporary, and greed is permanent." ~ Kim Arthur

Links 

Kim Arthur on LinkedIn

Main Management

Main Management on Twitter

Zombie (Miley Cyrus Rendition)

Howard Marks

Breath: The New Science of a Lost Art


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Robyn Murray


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2450-OPS-12/19/2022

As the need for sophisticated investment management has grown, OCIO has become an increasingly popular solution for institutional investors and advisory firms looking for comprehensive, turnkey investment management. Partnering with an OCIO team connects investment strategies and products directly to investors' unique financial goals, risk targets, and plans. It is a powerful model to increase operational efficiencies and drive growth.
In this episode, Rusty and Robyn talk with Kurt Brown, Chief Investment Officer at TownSquare Capital and Head of OCIO at Orion. In his role, Kurt oversees the firm’s bespoke, high-touch services that power advisory practices, family offices, and institutions to more efficiency and higher growth. His team has consistently helped advisor practices accelerate their growth rates while enhancing investor returns, tax efficiency, and client retention.
An Outsourced CIO for institutions and advisory firms, Kurt talks with Rusty and Robyn about how TownSquare Capital started the OCIO trend, what the role of the OCIO entails, and why advisors that should consider an OCIO's services.

Key Takeaways

[04:14] - An overview of Kurt's professional background.

[05:33] - How Town Square Capital started the OCIO trend.

[07:41] - What the Ballard Center for Social Impact is all about.

[09:08] - What the role of the OCIO entails.

[12:32] - Why advisors should consider an OCIO's services.

[14:15] - The opportunity for OCIO in the market.

[15:23] - Why Kurt chose Orion for his OCIO efforts.

[16:18] - Why custom indexing is so popular today.

[18:37] - Kurt's outlook for wealth management.

[20:00] - What advisors and their clients want most these days.

[24:47] - The qualities of a high-performing financial advisor.

[28:26] - Kurt's outlook for the global economy.

[32:48] - The advice Kurt has for aspiring entrepreneurs.

[35:21] - Kurt's secret to success.

[37:29] - One of Kurt's favorite investments.

[40:04] - How Kurt maintains his physical and mental health to perform at his best.

[41:24] - The people Kurt is grateful to professionally.

[42:52] - Kurt's recommendation for content.


Quotes
[19:41] - "If you're an advisor living and dying by just having a basket of ETFs, it will be a much more challenging environment in the future. You have to be able to provide these other elements of customization, service, and sophistication." ~ Kurt Brown
[27:10] - "It's difficult to build a great business without partners. It is possible, but partnership models are incredibly powerful." ~ Kurt Brown
[33:27] - "The faster you can learn what you're exceptional at, the easier and quicker your career and income will grow." ~ Kurt Brown

Links 

Kurt Brown on LinkedIn

Kurt Brown on Twitter

TownSquare Capital on Twitter

Narco by Timmy Trumpet

Brigham Young University

Montgomery Securities

Ballard Center for Social Impact

Charles Schwab

Fidelity Investments

Brinker Capital

Andy Rosenberger

Vanguard

Bank of America

Eric Clarke

Goldman Sachs


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Rusty Vanneman

Robyn Murray


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2443-OPS-12/16/2022

Natural resources and commodities provide investors with a unique opportunity to benefit from the long-term appreciation of these assets. While global economic trends largely drive the performance of natural resources and commodities, these assets have historically outperformed traditional asset classes, such as stocks and bonds, during periods of inflation. 
In this episode, Rusty and Robyn talk with Shawn Reynolds, Portfolio Manager for the Natural Resources Equity Strategy at VanEck. Before VanEck, Shawn served as a board member of several private Latin American oil and gas exploration and production companies and an energy analyst at Petrie Parkman & Co., covering U.S. oil and gas exploration and production companies. At VanEck, Shawn oversees the Natural Resources Equity Investment Team, including asset allocation, company research, and security selection.
Shawn talks with Rusty and Robyn about all things natural resources. He takes a deep dive into various natural resource sectors such as energy, agriculture, and precious metals, how natural resources fit into investment portfolios in the current environment, and how they complement other assets.

Key Takeaways

[03:02] - What drew Shawn to the energy industry.

[04:18] - The role of a portfolio manager for an active natural resource equity strategy.

[05:29] - VanEck's economic outlook.

[07:24] - How VanEck views inflation.

[11:07] - VanEck's take on a recession in 2023.

[12:39] - How natural resource stocks will fit into portfolios in 2023.

[13:58] - What is meant by natural resource stocks.

[15:19] - Why natural resources are a great inflation hedge.

[18:03] - Shawn's recommendations for natural resource allocation.

[21:38] - How recession can impact natural resource stocks.

[23:51] - Do natural resource stocks replace or complement other real assets?

[25:11] - Why investors should consider an ETF for their natural resource exposure.

[26:25] - The difference between VanEck Agribusiness ETF (MOO®) and YUMY VanEck Future of Food ETF.

[28:14] - What investors need to know about gold mining ETFs.

[30:57] - VanEck's other natural resource ETFs.

[32:00] - Shawn's favorite investment.

[33:39] - How Shawn maintains his physical and mental well-being to perform at a high level.

[34:42] - The people Shawn is thankful for professionally.

[35:32] - Shawn's recommendation for content.

[37:11] - What Shawn thinks about infrastructure.


Quotes
[04:28] - "The active natural resource strategy looks at the whole natural resource space. It's trying to drive alpha from all the aspects that natural resources and the underpinning of the global economy provide." ~ Shawn Reynolds
[14:15] - "When we think about inflation protection and leverage to global growth, which we think resources are, they are undoubtedly traditional oil and gas, renewable energy and green energy, and metal in all its forms." ~ Shawn Reynolds
[15:29] - "The great thing about the natural resource is that it does what it is supposed to do when it is supposed to do it. In times of inflationary periods, natural resource equities outperform the rest of the market." ~ Shawn Reynolds
 
Links 

VanEck

Humble and Kind by Tim McGraw

Goldman Sachs


Credit Suisse 

Petrie Partners

MOO - VanEck Agribusiness ETF

YUMY - VanEck Future of Food ETF

Veriten


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2447-OPS-12/19/2022

In this episode, Rusty talks with Jeff DeMaso, Editor and Founder of The Independent Vanguard Adviser. Jeff is also the interim CIO and Director of Research at Adviser Investments. He has been quoted in USA Today, Forbes, The Wall Street Journal, Barron's, InvestmentNews, and Kiplinger, to name a few, and named a Rising Star of manager research in 2019 by Citywire. 
Jeff launched The Independent Vanguard Adviser to provide independent, honest, and unbiased coverage of all things Vanguard. The goal is to give practical investment advice and education in a language everyone can understand.
Jeff talks with Rusty about what's great about Vanguard, what could be improved, why the company is having a tough year of sales, and a whole lot more. 

Key Takeaways

[02:30] - Jeff's career history and how he came to be in The Independent Vanguard Adviser.

[05:22] - The best things about Vanguard as a company and a product.

[08:50] - What Vanguard needs to do better.

[11:50] - Why Vanguard is having its worst year of sales.

[14:21] - Jeff's take on ETFs as the new trend.

[17:04] - What Jeff thinks about Vanguard's asset allocation products.

[21:09] - How Jeff rates Vanguard Wellesley Income.

[22:13] - What Jeff expects for 2023.

[25:22] - Jeff's outlook on inflation.

[29:05] - Jeff's thoughts on real assets.

[31:52] - The qualities Jeff looks for in a team member.

[33:13] - How Jeff personally invests.

[34:03] - How Jeff maintains mental and physical health to perform at his best.

[35:30] - The people Jeff is grateful for on a professional level.

[38:33] - Jeff's recommendations for content.


Quotes
[05:45] - "There's a lot to like about Vanguard. It's bringing low-cost investing to the masses. And not just within Vanguard, they put fee pressure on other players in the industry. We can thank Vanguard for that general pressure on fees coming down and making it such a great time to be an investor today." ~ Jeff DeMaso
[09:07] - "There are some things Vanguard could improve upon, without a doubt. The biggest one is the customer service and technology side. And this is the other coin of their low-cost effort, where Vanguard has been cutting costs for years and years." ~ Jeff DeMaso
[18:50] - "I always recommend ETFs and index funds, particularly for someone looking to get exposure to the market, keep costs low, keep things straightforward, and don't feel they have an edge." ~ Jeff DeMaso
 
Links 

Jeff DeMaso on LinkedIn

Jeff DeMaso on Twitter

The Independent Vanguard Adviser

Storm by Yoshida Brothers

Morningstar

VWINX - Vanguard Wellesley Income Fund Investor Shares

VWELX - Vanguard Wellington fund Investor Shares

VNQ Real Estate ETF

Daniel Wiener

Palm Valley Capital

Baillie Gifford

Sir John Templeton

Warren Buffett

Charlie Munger

John Bogle

Diversification Works

Common Sense on Mutual Funds


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Rusty Vanneman

Robyn Murray


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2253-OPS-11/21/2022