Episode Details

In this episode of Lead-Lag Live, Michael Gayed sits down with Dodd Kittsley, Co-CIO of Davis Advisors, to discuss why fundamental research and selectivity are becoming increasingly critical as markets transition into a period of normalized interest rates.

From Davis Advisors’ 60-year history of “eating their own cooking” to the evolution of active equity ETFs, Kittsley explains how a high-conviction, benchmark-agnostic investment philosophy can help investors compound capital over the long term—especially in a richly valued market.

From the “time arbitrage” embedded in their discipline to their views on AI-driven growth and undervalued financials, Kittsley outlines why what investors don’t own may matter just as much as what they do in the next market cycle.

In this episode:
– Why Davis Advisors pioneered the active equity ETF space nearly a decade ago
– The benefits of high-conviction, concentrated portfolios that ignore benchmarks
– How “picks and mortars” technology is reshaping financials like Capital One
– Valuation discipline in an overvalued market and the risks of unsustainable dividends
– The “time arbitrage” advantage of long-term ownership and owner-operator focus

Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.

#ActiveETFs #FundamentalInvesting #MarketOutlook #Equities #Valuation #LongTermInvesting #PortfolioStrategy

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