Lessons from David Swensen: Equity bias, alignment of interest & why boring is beautiful

J.P. Morgan warns: Overvalued USD, loose policy & real private credit risk

Is the 60/40 portfolio dead? What do Big Macs and Negronis have in common? Do bonds still diversify stocks? In this episode Andrew Norelli Managing Director at J.P. Morgan Asset Management, unpacks the macro forces driving markets and some of the "big bad risks" investors need to be aware of. Andrew was brutally honest about the world's economic future. Host Ally left this conversation reeling from his fresh takes- you won't want to miss this one. Chapters: 00:00:00 Episode Introduction 00:01:33 The Negroni Dollar Index 00:05:32 Fed Policy Gets Political 00:09:24 Why Wars Boost Economies 00:11:41 Are Bonds Still Diversifiers? 00:12:29 When Bonds Fail Investors 00:17:46 Private Credit Bubble Risks 00:19:46 Agentic AI Changes Everything 00:22:36 Best Fixed Income Opportunities 00:25:51 Is Australian Credit Attractive? 00:29:07 AI’s Productivity Explosion 00:31:59 The Entrepreneurship Boom 📈 Stocks and ETFs Mentioned: JPMorgan Income Hedged Active ETF (CBOE: JPIE) Links Mentioned: Register for early bird Finfest tickets here - http://equitymates.com/finfest-industry [http://equitymates.com/finfest-industry] ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here [https://equitymates.com/episode/j-p-morgan-warns-overvalued-usd-loose-policy-real-private-credit-risk] to claim your points. 0.5 Total Hours Knowledge Requirements: Fixed Interest (0.25 hour) and Managed Investments (0.25 hour) Legislated CPD Area: Technical Competence (0.50 hour) ——— This episode has been sponsored by Cboe. The JPMorgan Asset Management Income Hedged Active ETF is listed on Cboe ticker JPIE. To find out more about J.P. Morgan Asset Management’s funds listed on Cboe head here [https://www.cboe.com/markets/au/listings/funds/JPIE/] ——— Want more Basis Points? * Sign up to the Basis Points email [https://basispoints.beehiiv.com/subscribe] * Join the conversation on LinkedIn [https://www.linkedin.com/showcase/basis-points-by-equity-mates/] * Watch all episodes in full and relive some of our favourite clips on YouTube [https://www.youtube.com/@basis.points] ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

The 4-step playbook for investing in a world of surging debt

While the world fixates on geopolitical headlines, there is one risk today’s guest believes investors have become complacent about. One that isn’t making headlines. There are significant levels of debt in the financial system, whether that’s at the consumer level, corporate level, or within governments. Chad Padowitz, the Co-Chief Investment Officer at Talaria Capital, believes ballooning global debt has massive implications for inflation, interest rates, and how we invest. In this episode: 00:00 Market Outlook And Key Risks 02:11 Debt Pressures Reshaping Markets 04:07 Inflation Threats And Policy Risks 06:52 Dollar Weakness And FX Trends 10:59 Equity Opportunities Beyond Mega Caps 13:35 AI Hype And Valuation Risks 16:49 Finding Value In Uncertain Markets 22:31 Knowing When To Exit Positions 25:32 Growth Stocks Under Pressure 29:37 Using Options To Manage Risk 34:31 Why Income Still Matters 37:22 Debt Challenges And Policy Limits 40:42 Building Resilient Client Portfolios 📈 Stocks and ETFs Mentioned: Talaria Global Equity Fund Complex ETF (ASX: TLRA) Talaria Global Equity Hedged Fund Complex ETF (ASX: TLRH) Ferrari N.V. (NYSE: RACE) Everest Group Ltd. (NYSE: EG) Bunzl plc (LSE: BNZL) Johnson & Johnson (NYSE: JNJ) CF Industries Holdings, Inc. (NYSE: CF) NVIDIA Corporation (NASDAQ: NVDA) The Coca-Cola Company (NYSE: KO) Apple Inc. (NASDAQ: AAPL) Come join us at the Finfest adviser day event! Register for early bird tickets here - http://equitymates.com/finfest-industry [http://equitymates.com/finfest-industry] ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here [https://equitymates.com/episode/the-4-step-playbook-for-investing-in-a-world-of-surging-debt/] to claim your points. 0.75 Total Hours Knowledge Requirements: Managed Investments (0.75 hour) Legislated CPD Area: Technical Competence (0.75 hour) ——— This episode has been sponsored by Cboe. To find out more about Talaria’s Global Equity Fund Complex ETF (Cboe: TLRA) & Global Equity Fund Currency Hedged Complex ETF (Cboe: TLRH) head to https://www.talariacapital.com.au/ [https://www.talariacapital.com.au/*] ——— Want more Basis Points? * Sign up to the Basis Points email [https://basispoints.beehiiv.com/subscribe] * Join the conversation on LinkedIn [https://www.linkedin.com/showcase/basis-points-by-equity-mates/] * Watch all episodes in full and relive some of our favourite clips on YouTube [https://www.youtube.com/@basis.points] ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Lessons from David Swensen: Equity bias, alignment of interest & why boring is beautiful

Few Australians can say they were mentored by the late David Swensen - the legendary former Chief Investment Officer of the Yale Endowment Fund with one of the greatest long-term track records in history. Today’s guest is one of them. Anacacia Capital’s Jeremy Samuel, shares the lessons that shaped his approach across two decades of managing private and public markets. Chapters: 00:00 Introduction 01:22 Lessons from Yale Model 04:38 Equity Market Trends 08:58 IPOs & Liquidity Shifts 12:45 Boring but Beautiful Businesses 18:00 Active vs Activist Approach 21:02 Valuations & Risk Strategy 24:36 Active vs Passive Debate ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here [https://equitymates.com/episode/lessons-from-david-swensen-equity-bias-alignment-of-interest-why-boring-is-beautiful/] to claim your points. 0.5 Total Hours Knowledge Requirements: Managed Investments (0.50 hour) Legislated CPD Area: Technical Competence (0.50 hour) ——— This episode has been sponsored by Anacacia Capital. To find out more about Anacacia or their funds head to https://www.anacacia.com.au [https://www.anacacia.com.au/] Thanks to Anacacia Capital for helping us keep all our content on Basis Points, free. ——— Want more Basis Points? * Sign up to the Basis Points email [https://basispoints.beehiiv.com/subscribe] * Join the conversation on LinkedIn [https://www.linkedin.com/showcase/basis-points-by-equity-mates/] * Watch all episodes in full and relive some of our favourite clips on YouTube [https://www.youtube.com/@basis.points] ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

He interviewed 800 advisers around the world. Here's the one thing they all got wrong

Today’s guest interviewed 800 financial advisers across the world, over the past 2 years. They all described experiencing the same problem; 80% of their time is spent on admin, just 20% talking to clients. It’s an advice efficiency problem. One that our guest is endeavouring solve with AI. Shak Lala is the co-founder of Marloo, an AI powered tech platform built for financial advisers. In this episode 00:00:00 Adviser Crisis And AI Opportunity 00:02:00 AI Trends And Adviser Impact 00:06:30 Structural Problems In Advice 00:11:00 Building Marloo And Key Pain Points 00:16:30 Compliance And Advice Evolution 00:22:00 AI Adoption And Workflow Changes 00:27:30 Scaling Advice And Future Vision This episode was recorded on April 21st 2026 ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here [https://equitymates.com/episode/he-interviewed-800-advisers-around-the-world-heres-the-one-thing-they-all-got-wrong/] to claim your points. 0.5 Total Hours Knowledge Requirements: Managed Investments (0.50 hour) Legislated CPD Area: Technical Competence (0.50 hour) ——— This episode has been sponsored by Marloo. Try Marloo for free here [https://www.marloo.com/au?utm_source=podcast&utm_medium=email&utm_campaign=equity-mates&_bhlid=dd852a36cc2060053f593290d93b5abab5b50014]! ——— Want more Basis Points? * Sign up to the Basis Points email [https://basispoints.beehiiv.com/subscribe] * Join the conversation on LinkedIn [https://www.linkedin.com/showcase/basis-points-by-equity-mates/] * Watch all episodes in full and relive some of our favourite clips on YouTube [https://www.youtube.com/@basis.points] ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Ethics CPD with Dr Katherine Hunt

What if your ethics CPD this year actually made you a better advisor? Dr. Katherine Hunt, PhD-qualified financial planner and internationally recognised speaker on ethical growth, joins Basis Points to reveal how advisors can use client psychology and AI to scale trust, deepen relationships, and build a practice that compounds over generations. In this episode: 00:00 AI Era Client Experience 00:30 Ethics and Adviser Mindset 03:00 Ego and Ethical Growth 06:02 Scaling Trust and Connection 09:56 AI, Trust, and Systems 14:34 The Human Code Framework 16:35 What Clients Truly Value 18:53 Fear, Growth, and AI 22:44 Future of Successful Advisers 23:44 One Action to Improve ——— CPD Points: This episode is accredited for the following CPD points by the Financial Advice Association of Australia (FAAA). Complete the quiz here [https://equitymates.com/episode/ethics-cpd-with-dr-katherine-hunt/] to claim your points. 0.5 Total Hours Knowledge Requirements: Ethics (0.50 hour) Legislated CPD Areas: Professionalism and Ethics (0.50 hour) ——— Want more Basis Points? * Sign up to the Basis Points email [https://basispoints.beehiiv.com/subscribe] * Join the conversation on LinkedIn [https://www.linkedin.com/showcase/basis-points-by-equity-mates/] * Watch all episodes in full and relive some of our favourite clips on YouTube [https://www.youtube.com/@basis.points] ——— Basis Points is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.