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What does the market look like through the eyes of a seasoned Wall Street veteran? Adam Parker, founder of Trivariate Research and CNBC contributor, joins us to share his institutional perspective on today's investment landscape.

The conversation begins with Adam's surprising take on political developments – while headlines focus on tariffs and tax policy, institutional investors are looking elsewhere. He shares what's really dominating client conversations and why certain sectors remain largely immune to policy shifts. As he puts it, "I think investors just didn't focus on it that much."

We dive deep into the AI revolution, with Adam providing a framework for categorizing companies in four distinct ways: direct revenue beneficiaries, productivity winners, businesses impregnable to disruption, and those vulnerable to AI-driven obsolescence. His unique insights come from systematic analysis of earnings calls using natural language processing to identify trends before they become obvious. Remember – in November 2022, major investment banks made zero mentions of AI in their outlook documents, yet within six months, we witnessed the largest upward sales revision of any mega-cap in history with NVIDIA.

Perhaps most contrarian is Adam's take on international investing. He dismisses the recent European outperformance as "a temporary trade that's already over," explaining why structural differences make US equities structurally superior: "The reason Europe is cheaper is because it's worse. It's the same reason Motel 6 is cheaper than the Four Seasons."

Throughout our conversation, Adam emphasizes his core investment philosophy: "The two things that matter most to investing are changes to perceptions about growth and changes to perception about rates." This simple yet powerful framework helps explain market movements and provides clarity amid complexity.

Whether you're managing a large portfolio or just beginning your investment journey, you'll appreciate Adam's no-nonsense perspective, combining statistical rigor with practical wisdom gained from decades on Wall Street. Visit trivectorresearch.com to access Adam's insights for individual investors and financial advisors.

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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Stablecoins represent a fascinating middle ground in the crypto universe - digital tokens backed by real dollars, designed to provide stability in the notoriously volatile cryptocurrency landscape. Steve Davenport and Clem Miller take you on a deep dive into this evolving ecosystem, examining the regulatory framework established by the recently passed Genius Act and what it means for companies like Circle that have gone public.

The conversation reveals the surprising vulnerabilities of stablecoin issuers, particularly their exposure to interest rate fluctuations. When Circle's stock soared from $45 to nearly $200 before retreating, investors weren't buying more backing assets - they were speculating on future revenue streams at multiples far exceeding traditional financial institutions. This creates a precarious situation where shareholder value could evaporate if interest rates decline, as regulations prevent these companies from hedging against such risks.

We explore the crucial distinction between investing in stablecoin companies versus holding the coins themselves, unpacking why shareholders have no claim to the underlying reserves that back the coins. The discussion extends to government involvement in cryptocurrency, raising important questions about the wisdom of establishing crypto reserves with taxpayer dollars. Are we legitimizing activities without fully understanding their implications? Should governments be speculating in digital assets? The answers aren't simple, but they're essential for anyone navigating this rapidly evolving financial landscape. Whether you're curious about crypto or actively investing, this episode provides clarity amidst the intentionally complex terminology that often surrounds digital currencies.

Straight Talk for All - Nonsense for None

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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The political theatrics behind Trump's "Big Beautiful Bill" mask a troubling economic reality that could reshape America's fiscal landscape for years to come. This massive 900-page legislation, passed by the narrowest of margins, reveals how calculated political maneuvering drives fiscal policy more than sound economic principles.

Diving deep into the mechanics of the bill, we uncover how the administration strategically front-loaded tax benefits while pushing Medicare and Medicaid cuts beyond the 2026 midterm elections. The raised SALT deduction cap from $10,000 to $40,000 primarily benefits wealthy Americans in high-tax states – a surprising reversal from Trump's previous stance that suggests political calculation rather than ideological consistency. Meanwhile, tax relief on overtime pay and tips provides immediate benefits to working Americans that will be highly visible during campaign season.

The macroeconomic implications are concerning. With an estimated $3.5 trillion price tag, this legislation substantially increases America's already troubling national debt. The combination of fiscal expansion and proposed tariffs creates inflationary pressure that could force the Federal Reserve to maintain higher interest rates despite Trump's public pressure for cuts. For everyday Americans hoping to buy homes or finance major purchases, this could mean persistently high borrowing costs. For investors, bond markets may react with higher yields, potentially causing significant price declines for those holding longer-duration fixed income securities.

Most troubling is the distributional impact: analysis suggests the top 10-20% of Americans will see benefits between $6,000-$20,000, while the bottom 20% may experience a net loss of $5,000-$6,000 once all provisions are implemented. This regressive outcome stands in stark contrast to the populist messaging that typically accompanies such legislation and represents a significant departure from traditional Republican fiscal conservatism.

Want to understand how these sweeping changes might affect your financial future and investment strategy? Subscribe now for our continued analysis of evolving economic policies and their market implications.

Straight Talk for All - Nonsense for None

Please check out our other podcasts:

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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Tariffs have moved from economic policy to political weapons, and smart investors need to understand the real impacts on markets and portfolios.

In this eye-opening exploration of the tariff landscape, we break down the fundamentals of international trade policy and how it affects your investments. From the recent 50% tariff on Brazil (imposed for political reasons) to the unrealistic expectation of "90 deals in 90 days," we cut through the rhetoric to reveal what's actually happening in global trade negotiations.

The conversation tackles a critical misconception: who actually pays for tariffs? Despite claims that tariffs are paid by foreign countries, the reality is they're taxes on US importers. We explore how these costs get distributed between companies, suppliers, and consumers depending on profit margins and market conditions. Using examples from Nike sneakers to Walmart's thin-margin business model, we illustrate how tariff impacts vary dramatically across industries.

We also examine why important commodities like copper are produced abroad rather than domestically. The challenges of developing new mines, semiconductor plants, and manufacturing facilities require years of investment – making immediate high tariffs disruptive rather than constructive. Instead, we discuss how smart economic alliances with resource-rich friendly nations might better serve American interests.

For investors navigating this complex environment, we offer practical advice for portfolio positioning. With markets near all-time highs, we suggest selective investments in technology companies less affected by tariffs, potential opportunities in energy infrastructure (particularly LNG production), and maintaining balance with lower-beta investments including gold ETFs and cash positions.

What does the future hold for tariffs and trade policy? Will we see the current rhetoric translate into lasting economic change, or will pragmatism eventually prevail? Listen now to gain the perspective you need to make informed investment decisions in an increasingly unpredictable world.

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Please check out our other podcasts:

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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Rich Weiss, CIO of Multi-Asset Strategies at American Century, brings 40 years of investment experience to discuss market reactions to global turmoil and why the VIX index remains surprisingly calm despite international tensions.

• Markets appear to be undervaluing risk despite geopolitical conflicts and economic uncertainties
• Economic consensus forecasts predict 1.5% growth this year, avoiding recession but not stellar
• Manufacturing and housing sectors show concerning weakness while consumer data remains resilient
• Bond vigilantes could reject the "Big Beautiful Bill" and drive up interest rates if deficit concerns intensify
• Fed Chair Powell maintaining independence despite political pressure for rate cuts
• Companies likely to pass tariff increases directly to consumers in coming months
• Congressional Budget Office estimates tax legislation could add $2-3 trillion to deficit over next decade
• U.S. interest payments as percentage of GDP have reached approximately 4%, comparable to struggling economies
• Gold has overtaken the Euro as the second most popular central bank reserve asset globally
• Diversification remains "the only free lunch in investing" during uncertain times
• Short-term investment thinking resembles gambling more than actual investing
• High-quality corporate bonds may provide better security than treasuries in the near term

For more insights on navigating market uncertainty with a balanced approach, subscribe to "Ask Rich" on Mondays at 4:00 PM or follow the Skeptic's Guide to Investing.

Straight Talk for All - Nonsense for None

Please check out our other podcasts:

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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Financial literacy isn't just about knowing investment terms—it's about transforming your relationship with money. Marcus Sturdivant, founder of ABC Squared in Charlotte, shares his journey from a loving household where money wasn't discussed to becoming a financial advisor passionate about educating others.

"We didn't grow up rich, but we didn't realize we weren't rich," Marcus explains, highlighting how his entrepreneurial spirit emerged early—selling candy from a gumball machine at five and working jobs from fourteen—but understanding investment opportunities came much later. This personal experience fuels his mission to bridge the financial literacy gap he sees in communities like his own.

The conversation reveals three critical mistakes most people make with money: not tracking where it actually goes, poor cash flow management, and not realizing help exists for people at all income levels. Marcus points out the irony of individuals spending hundreds on lottery tickets while claiming the stock market is "fixed"—a misconception that prevents meaningful wealth accumulation.

One particularly valuable insight centers around tax diversification. Many focus exclusively on pre-tax retirement accounts and cash, neglecting tax-diversified options like Roth accounts. This oversight often results in retirees facing unexpectedly large tax bills when they begin withdrawals. "Most people only see two buckets," Marcus explains, "their savings and retirement accounts. They don't have those allocated out of pre-tax."

Most intriguing is Marcus's concept of a "Carolina Portfolio"—investments focused on companies based in or with significant operations in North and South Carolina. This approach connects investors to visible growth in their communities while creating surprisingly diverse exposure across industries from banking (Bank of America, Truist) to manufacturing (Boeing, BMW), retail (Lowe's), and technology.

Whether you're just starting your financial journey or looking to refine your investment strategy, this episode offers practical wisdom for navigating today's complex markets. As Marcus advises, "Don't try to jump into fancy, complicated investment strategies or just go with the fastest thing going on the internet." Instead, understand your cash flow, learn from reliable sources, and develop strategies to remove emotion from investment decisions.

https://theabcsquared.com/about

Straight Talk for All - Nonsense for None

Please check out our other podcasts:

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Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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Clem Miller recounts his month-long journey through Eastern Canada, sharing observations about icebergs, puffins, and whales along with insights into Canadian economics and culture with relevance for investors. His adventures to Newfoundland and Labrador reveal how travel experiences can broaden investment perspective and inform financial decision-making.

• Planning for retirement should include time and energy for adventure, not just financial security
• Eastern Canada offers unique opportunities to see icebergs, puffins, and whales during May-June
• Vikings established North America's first European settlement in Newfoundland about 1021, or over a 1000 years ago.
• Canada shows increasing economic nationalism with emphasis on Canadian ownership
• Canadian resources (minerals, energy, lumber) present significant investment opportunities
• Well-established Canadian legal system offers strong protections for investors
• Travel experiences provide context and perspective that can improve investment decisions
• Historical connections between Canada and Europe may lead to increased economic coordination

If you enjoyed this episode, please share it with friends and colleagues who might benefit from a broader investment perspective. Email or text us with questions or comments about how travel has informed your investment thinking.

Straight Talk for All - Nonsense for None

Please check out our other podcasts:

https://skepticsguidetoinvesting.buzzsprout.com

Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.

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We explore how news media affects investment decision making and identify reliable sources of financial information in today's fragmented media landscape.

• Traditional media networks (ABC, NBC, CBS, CNN, FOX) prioritize sensationalism and local stories over global context
• Bloomberg and Reuters provide better global perspectives on how various markets interconnect
• News media has shifted from educating viewers to entertaining them for ratings
• Corporate ownership of media creates conflicts of interest with government oversight
• Seeking Alpha offers valuable investment data and subscriber articles without political bias
• Wall Street Journal delivers quality factual reporting alongside opinion sections
• Social media and TikTok spread misleading investment information, particularly about cryptocurrency
• AI-generated content presents growing concerns for verifying authenticity of news
• Geographic divides in media consumption reinforce regional biases
• Verifying sources and being selective about information consumption is essential

Take a few minutes to evaluate your news sources and focus on channels providing accurate, global perspectives that can truly inform your investment decisions.

Straight Talk for All - Nonsense for None

Please check out our other podcasts:

https://skepticsguidetoinvesting.buzzsprout.com

Disclaimer - These podcasts are not intended as investment advice. Individuals please consult your own investment, tax and legal advisors. They provide these insights for educational purposes only.