Excess Returns Podcast
1) We Asked David Rosenberg Why He Owns Almost No US Stocks — and What He Holds Instead
This episode features David Rosenberg, founder of Rosenberg Research, breaking down why today’s market may be driven more by valuation excess and investor behavior than fundamentals. He explains why t...Show More
2) The Resilience No One Trusts | Brent Donnelly on Why War and Oil Haven’t Broken This Market
Brent Donnelly returns to Excess Returns to break down one of the most confusing market environments in years, where policy shocks, volatility, and positioning matter more than traditional fundamental...Show More
3) The Bear Market No One Sees | Liz Ann Sonders on the Real Story Indexes Hide
Liz Ann Sonders of Schwab joins Excess Returns to break down how war, an oil shock, and shifting market dynamics are reshaping the investing landscape. She explains why the surface-level strength in m...Show More
4) The Forever Invariable Truth | Jim Grant on War, Inflation, and What Comes Next
This episode features Jim Grant of Grant’s Interest Rate Observer on inflation, war, monetary policy, and the long arc of credit cycles. Grant explains why inflation is ultimately driven by monetary d...Show More
5) The Market the Tweets Can’t Break | What the Options Market Tells Us About What Comes Next
Subscribe to the OPEX Effect on SpotifySubscribe to the OPEX Effect on Apple PodcastsThis episode of The Opex Effect breaks down why markets have remained surprisingly resilient despite geopolitic...Show More
6) The Risk at the End of the Whip | GMO’s Tom Hancock on Finding Conviction Amid the AI Hype
This episode of Excess Returns features GMO’s Tom Hancock on how to think about AI as an investment opportunity and what truly defines “quality” in today’s market. The conversation breaks down the AI ...Show More
7) The Walmart Indicator Just Hit 2008 Levels | Jim Paulsen on the Big Difference This Time
This episode of Excess Returns features Jim Paulsen breaking down the current macro environment through a series of powerful indicators, including oil, interest rates, consumer behavior, and market se...Show More
8) The Inevitability No One Sees | $11 Billion Tech Manager on What Investors Miss About AI
This episode of Excess Returns features Tony Wang of T. Rowe Price discussing how investors can identify “inevitabilities” in technology and position portfolios to benefit from long-term innovation tr...Show More
9) The Signal Before the Spike | Katie Stockton on What the Charts Tell Us About What Comes Next
This episode explores the growing signs of a shift beneath the surface of the market, as technical indicators point to weakening momentum in equities and a potential change in leadership. Katie Stockt...Show More
10) Michael Mauboussin | AI, Base Rates, and Investing in the New Economy
In this inaugural episode of our new show, The Intangible Economy with Kai Wu, we explore how AI, intangible assets, and unprecedented capital investment are reshaping the future of markets. Michael M...Show More