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Deconstructing Alpha

Business & Economics Podcasts

Timely and impactful interviews with prominent investment managers. Frontier Asset Management has a long history of investing in active mutual funds . In this podcast, we seek to shine a light on the investment managers who run these mutual funds. We believe, these professionals need to stay on top of economic events, the political environment, and business trends worldwide. They also need to have in-depth knowledge of the businesses that drive our economy. In short, many of the investment managers I have come across in my career are some of the most brilliant people I have ever met. Frontier has in-depth access to these managers and their insights. Through this podcast, I share this access with you. This podcast is a sign of respect for the skill and intellect exercised by these managers.

Location:

United States

Description:

Timely and impactful interviews with prominent investment managers. Frontier Asset Management has a long history of investing in active mutual funds . In this podcast, we seek to shine a light on the investment managers who run these mutual funds. We believe, these professionals need to stay on top of economic events, the political environment, and business trends worldwide. They also need to have in-depth knowledge of the businesses that drive our economy. In short, many of the investment managers I have come across in my career are some of the most brilliant people I have ever met. Frontier has in-depth access to these managers and their insights. Through this podcast, I share this access with you. This podcast is a sign of respect for the skill and intellect exercised by these managers.

Language:

English


Episodes

EP 26: Roadmap for 2024 with Rob Almeida - MFS Investments

2/1/2024
Welcome to 2024! Feeling optimistic? The economy seems to be dieseling along, asset prices are high, and the Fed is likely to cut rates. What’s not to like? We kick off the year with a roadmap tour the opportunities and risks ahead for 2024 with Rob Almeida, Global Strategist for MFS Investments. Tune in and buckle up, let’s go for a ride.

Duration:00:52:30

EP 25: Bryan Krug, CFA – Artisan Partners. Where is the credit risk?

10/30/2023
Did you know that there are three types of non-investment grade (credit) bonds in the marketplace today? When investors think about credit bonds, they are usually referring to just high-yield bonds. Post the Great Financial Crisis (GFC) though, the non-investment grade bond market has changed and is no longer dominated by just high-yield bonds. Investors today also have the opportunity to invest in floating rate notes/leveraged loans, as well as private credit. With credit bonds currently yielding upwards of 8% or more yield, many investors are wondering where is the risk? Is the risk in high yield bonds, floating rate notes, or private debt? Today’s guest in Bryan Krug, CFA, portfolio manager of the Artisan High Income Strategy, the Artisan Credit Opportunities Strategy, and the Artisan Floating Rate Strategy. Tune in to this in-depth interview with Bryan Krug of Artisan Funds, who proves once again, that delivering alpha requires deep knowledge, an understanding of nuances, and that execution matters. 20231030.32698

Duration:00:37:31

EP 24: Winners and Losers with Henrik Strabo of Rainier International Discovery

8/28/2023
Many of you may have never heard of the Rainier International Discovery Fund. However, Henrik Strabo, the founder and lead portfolio manager of this fund has been managing portfolios for over 30 years. Henrik is steeped in experience and joins us to discuss how changes around the world can lead to winning investments, and to losers. Surprises often scare investors. However, when changes occur, this can often mean opportunities for some businesses, and losses for others. Today, we have our fair share of change to deal with. Think, onshoring, energy transition, AI, political changes, Fed policy, inflation, interest rates, and so on. And sweeping changes appear to be accelerating, or at the very least a constant. When the outlook looks the most cloudy - full of unpredictable change - is often when the best opportunities can arise. So, tune in to hear more about how to capitalize on change, or more importantly, how to avoid the losers.

Duration:00:42:23

EP 23: Carl Kaufman of Osterweis Funds – Why Income, Why Now

7/27/2023
For the twelve years following The Great Financial Crisis, money market yields had remained close to 0%, and bond yields were consequently repressed. However, today the entire bond spectrum appears to exhibit different characteristics than when the Fed Funds Rate was 0%. Instead of low inflation, we have inflation higher for longer. We currently have an inverted yield curve, where short-term bonds offer higher yields than longer dated bonds. Further, we have whole segments of the bond market that are offering yields in the 7%+ range. To help uncover all that needs to be known on this subject right now, I interview Carl Kaufman of Osterweis funds. Carl is the most experienced bond manager that I know of when it comes to all things income. Many of you might have listened to him before on this podcast, but those that haven’t, you are in for a treat. If you like to earn income from your bonds, this might be something you want to listen to. So, pod up and tune in to Carl Kaufman of Osterweis funds.

Duration:00:54:20

EP 22: Resilient Investing with Adam Sues of Yacktman Funds

6/20/2023
In this episode we discuss managing resilient equity portfolios that can endure multiple market environments with Adam Sues of Yacktman Funds. For those of you who don’t know Yacktman, they have been a pillar of quality focused equity management for the past 30 years. Morningstar might classify Yacktman as a large cap value manager, but they are so much more than this arbitrary moniker. Want to know more about achieving more consistent equity returns? Tune in and let’s go inside Yacktman Funds with Adam Sues.

Duration:00:59:00

EP 21: Inside First Eagle with Julien Albertini

2/15/2023
For institutional investors, First Eagle has long been one of the most revered investment firms in the nation. Their mutual funds have been a pillar of strength in Frontier portfolios, providing consistent performance year after year, for decades, even during some of the most difficult of times. If you ask them how they have been able to achieve this track record, their response will likely be “scarcity” and “persistence”. What does that mean? Tune in for unprecedented access to the secrets of First Eagle’s success.

Duration:00:43:08

EP 20: Tony Crescenzi, PIMCO Funds – What is the path for inflation and the Fed in 2023?

1/18/2023
Welcome to 2023! Two big questions for the year; where will inflation likely end up, and what is the Fed’s plan? Let’s find out with Tony Crescenzi of PIMCO, after all PIMCO might know a thing or two about inflation and the Fed.

Duration:00:45:07

EP 19: What is the next phase of this market cycle?

12/8/2022
So here we are, 9 months into a market decline. What now? In this interview we discuss what is likely to happen to the economy and earnings, what is next for capital markets, and where is the opportunity. Who doesn’t want to know that? I don’t know anyone that can deconstruct it better than Brad Neuman.

Duration:00:50:52

EP 18: Rezo Kanovich - Portfolio Manager, Artisan Non-U.S. Small-Mid Growth Strategy

11/4/2022
Triumph! What an honor it was to host the famed international investor Rezo Kanovich from the Artisan International Small Mid Growth Strategy. Frontier has been a long-term investor with Rezo and Artisan, and I was shocked to have been able to interview such an icon of international investing. We deconstruct the importance of security selection, the opportunities before us, the inefficiencies, and risk aspects of small stock investing. After listening to this, you might be left pondering, who would index this space? Buckle up, ear bud up, or grab the dog and go for a walk. What a rare treat this interview is.

Duration:00:48:29

EP 17: What are managed futures anyway? Yung-Shin Kung – Credit Suisse

6/22/2022
Stocks down, bonds down, managed futures up! What are managed futures, how do they work, and why are they performing so well in this “everything down” environment? To answer these questions, we go right to the source - Yung-Shin Kung, Head of Quantitative Strategies, & Portfolio Manager of the Credit Suisse Managed Futures fund. Tune in and listen up, this is something totally different!

Duration:00:27:16

EP 16: Have you ever wondered how much gold can fit into a swimming pool?

4/26/2022
In this podcast, we interview Max Belmont, Associate Portfolio Manager for the First Eagle Gold fund. What does First Eagle know about gold? Well, they just might own more gold than any other private entity in the country. How much gold can fit in a swimming pool, what is the difference between gold out of the ground and gold mining stocks, what is the role of gold in a portfolio, and how do crypto currencies factor into this environment? These are all questions that we will cover. This is a fascinating interview, chock full of facts and tidbits about gold. Grab your ear buds, get on your exercise device and buckle up. Here we go.

Duration:01:00:00

EP. 15: This is not your grandfather’s growth vs. value debate.

3/14/2022
While this podcast does hover around the growth vs. value debate, we will hone in on the misunderstanding of innovation and how a simple financial reporting measure can cause trillions of investor dollars to be misallocated. This podcast is the most important podcast that I have produced!

Duration:01:28:59

EP 14: 2022 Kick Off – What the Heck is Going On Now, with Rob Almeida - Global Strategist, MFS Investments

2/8/2022
To kick things off for 2022, we welcome back to the show Rob Almeida – Global Investment Strategist and Portfolio Manager for MFS Investment Management. This time around, we recap the highlights and oddities of last year, and address some of the major issues for the New Year. High asset prices, inflation, the Fed…we address it all in this sprawling synopsis of what the heck is going on in capital markets. So, go sit in traffic – if you can find any, go walk your dog, or relax in your office and plug into this one. Kick off the new year in style. Well, this might not be stylish, but you just might be more informed.

Duration:01:07:37

Ep 13: What is Advisors Alpha? - Brandon Jansma of Prudential Securities

1/24/2022
Can we deconstruct Advisors Alpha? This is a first. We interview an investment advisor – Brandon Jansma. We figured that since most of our listeners are investment advisors, maybe we should interview one. In this episode, we define Advisors Alpha with Brandon Jansma, whom we believe to be an all-around thought leader and contemplator of finer subjects. We ponder what it is to be an advisor today and venture into what the future of being an advisor looks like. We contemplate the value of time along the way. Grab your vacuum or your paintbrush and pop in your earbuds. Let’s go to Laguna Beach, CA with Brandon Jansma.

Duration:00:58:04

EP 12: Do Valuations Matter? - Gary Miller, CFA - Founder of Frontier Asset Management

12/30/2021
This year, we reported on the current themes of why interest rates are so low, what is going on in China, and whether inflation is transitory or persistent. However, we have saved one of the biggest issues for last to help prepare you for 2022 – Do Valuations Matter? With U.S. equity markets so overvalued currently – if you believe traditional valuation metrics – we thought it would be prudent to check in with Frontier’s very own Founder Gary Miller, CFA. Put in your earbuds. This might be our most important podcast episode of the year.

Duration:00:43:34

EP11: Will Taxes Rise in the U.S.? - Libby Cantrill of PIMCO Investments

12/15/2021
What better way to end 2021 than to talk about some heavy hitters? Spending. Taxes. China. Russia. Mid-Term Elections – we discussed it all in this interview with Libby Cantrill, Head of US Policy at PIMCO. Tune in to hear a thought-provoking discussion on some of today's hottest U.S. policy topics and the potential impact on the markets and taxes.

Duration:00:56:14

EP10: What is Going on in China with Andy Rothman of Matthews Asia

11/5/2021
Regulation is a four-letter word in American politics, but in China, is it business as usual? This year, Xi Jinping – the leader of the Chinese Communist Party – passed down a laundry list of regulations that resulted in cascading unintended consequences for businesses and investors alike. These new regulations address real estate construction leverage, private education, environmental concerns, data privacy, and even screen time for minors. Needless to say, investors are not so happy about all of this, nor is the mainstream media. But, what is the real story? Is this a step backward towards Maoist communism, or is this par for the course for “common prosperity?” More importantly, for investors, the performance of Chinese equities has languished as of late. And, as China goes, emerging markets typically follow. The big question now: Is this a contrarian opportunity, or is this a value trap? Tune in to find out. Sit back in your Lazy Boy, lay down on your office couch, or walk your dog (or cat if you are into that), and enjoy the show.

Duration:00:53:46

EP9: Risk Managed Small-Cap Investing with Gregory Spiegel of Neuberger Berman

10/14/2021
Risk managed small-cap equity investing? How to manage a large small-cap portfolio? Can underperforming a bull market lead to multiple market environment outperformance? For how long can poor quality businesses outperform? Why is the beta ripping Russell 2000 Small Cap Index chock full of non-profitable companies? Do these questions sound like “Jumbo Shrimp”? We are fortunate enough to address these perplexing topics with Gregory Spiegel, Portfolio Manager of the $10 billion AUM – 30 plus year old – Neuberger Berman Genesis fund. Listen up and get wise folks. Time to go sit in traffic, take the dog for a walk, or just take a nap… Please click here for a summary of the Neuberger Berman Genesis Fund’s investment risks, current performance data, including current to the most recent month end, and other important disclosures.

Duration:01:12:41

EP8: Why Are Interest Rates So Low? - Tony Crescenzi of PIMCO Investments

9/17/2021
Inflation at 5%, 10-year treasury yields at 1.5%, how is that sustainable? In the post-COVID investment environment of explosive growth coinciding with inflation concerns, it seems implausible that interest rates could remain this low. However, for my entire career, investors have decried, “Interest rates are just about to rise, so watch out!”. But they haven’t. Interest rates have been declining for 40 years. In this podcast, we interview Tony Crescenzi, Portfolio Manager and Investment Committee Member of PIMCO investments. What better person could we have found to ponder this perplexing conundrum? Buckle up or grab the dog and go for a walk; this is not to be missed.

Duration:01:09:47

EP7: Inflation with Christopher Burton, CFA, FRM of Credit Suisse

8/12/2021
The big macro-economic surprise in 2021 is INFLATION! The latest CPI-U year-over-year inflation print for the 12 months ending May 2021 is 5%. Regardless of whether the rise in general prices – influenced by the sectors of energy, lumber, or used cars – has been lumpy or not, it does appear that most of us are witnessing pockets of inflation in our lives. And, inflation is contagious, inflation in one area often spills over into others. This current inflation appears to be an about-face from the decade of deflationary forces that languished through the decade prior to COVID. The 2010s were characterized by slow growth, low inflation, and low-interest rates. To combat the persistent slow and low economy, central banks around the world were unrelenting in their efforts to stimulate the world’s economy, which largely just led to rising asset prices. Fast forward through one pandemic and one year later, and BOOM! An explosion in consumer demand and a disruption in supply. Have we entered a new paradigm of demand and exceeding supply, or will we return to the old, oversupplied economy that we are all so used to? In other words, is the inflation that we are witnessing transitory or persistent? In this episode, we break this down. What is happening with inflation, what does it mean to portfolios, how best to hedge against inflation, and is this inflation transient or persistent?

Duration:01:43:21