Podcast Episodes

The Risk is in the Water | Graeme Forster on Six Courageous Questions for 2026

Season 1 Episode 390

In this episode of Excess Returns, Graeme Forster of Orbis joins us to discuss two major research papers: Six Courageous Questions for 2026 and Sunrise on Venus. We explore how long-running global tr…

Published on 2 weeks, 6 days ago

The Thunderclap That Ends the Cycle | Jim Grant on the Risk No One Sees

Season 1 Episode 389

James Grant, legendary founder of Grant’s Interest Rate Observer, joins us for a wide-ranging conversation on cycles, interest rates, inflation, credit, the Federal Reserve, private markets, gold, an…

Published on 3 weeks, 1 day ago

3% Inflation Isn't the Problem | Jim Paulsen on Why 2% Growth is the Crisis

In this episode, we’re joined again by Jim Paulsen to break down the key themes shaping markets and the economy heading into 2026. Jim explains why policymakers may be fighting the wrong battle, why …

Published on 3 weeks, 3 days ago

The One Lesson | 50+ Great Investors Share the One Thing They Would Teach You

In this special episode of Excess Returns, we share the most important investing lessons from more than 50 of our top guests. After asking more than 200 investors, strategists, academics, and market …

Published on 3 weeks, 5 days ago

World War AI | Ben Hunt on the Economic Consequences of the AI Boom

Season 1 Episode 388

In this episode of Excess Returns, Matt sits down with Ben Hunt to break down his new Epsilon Theory essay, World War AI. They explore how the US government, markets, and Big Tech are rapidly shiftin…

Published on 4 weeks ago

The Real Estate Bust Was the Plan | Louis-Vincent Gave on China's Brute Force Growth Strategy

Season 1 Episode 387

In this episode of Excess Returns, we sit down with Louis-Vincent Gave of Gavekal Research for one of the most wide-ranging and eye-opening conversations we have ever hosted. Louis breaks down how Ch…

Published on 1 month ago

The Pattern Is Staggering | Mary Ann Bartels on Why This Bull Market Is Just Getting Started

Season 1 Episode 386

In this episode, we sit down with Sanctuary Wealth Chief Investment Strategist Mary Ann Bartels to break down her new 2026 outlook. We cover her long-term S&P 500 forecast, why she believes we are st…

Published on 1 month ago

The Risk Isn't Where You Think | Carl Kaufman on AI Capex, Private Credit and the Hidden Bond Play

Season 1 Episode 385

In this episode of Excess Returns, we talk with Carl Kaufman, Co-President and Co-CIO of Osterweis Capital Management, about navigating today’s fixed income landscape. Carl breaks down the major segm…

Published on 1 month ago

The Bubble You Can't Short | Rob Arnott on What You Can Do Instead

Season 1 Episode 384

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In this episode, we sit down with Rob Arnott for a wide-ranging discussion on bubbles, valuations, AI spending, market history, index const…

Published on 1 month, 1 week ago

The Bull Market Where Everyone Feels Broke | Behind the Rise of Financial Nihilism

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Published on 1 month, 1 week ago