Lead-Lag Live

In this episode of Lead-Lag Live, I sit down with Ted Oakley, Founder of Oxbow Advisors, to break down why inflation remains sticky, why investors should be skeptical of Federal Reserve guidance, and where real value may be emerging beneath the surface of today’s market.

With more than four decades of experience advising high-net-worth investors, Ted explains why mega-cap stocks now represent concentration risk, why energy is one of the cheapest areas in the market, and how separating base capital from investment capital helps investors survive volatile cycles.

In this episode:
– Why Ted says the Fed is consistently late and unreliable
– What the latest CPI and PPI data reveal about persistent inflation
– Why mega-cap stocks may carry more risk than reward
– How energy offers income and value in an uncertain macro backdrop
– Why separating base capital from risk capital matters in downturns

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

#Inflation #FederalReserve #EnergyStocks #MarketRisk #IncomeInvesting #StockMarket #Macro #PortfolioStrategy #Investing
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This video is sponsored by Quantify Funds and contains discussion of exchange-traded funds sponsored by Quantify Funds. Quantify Funds paid the creator a flat fee for this endorsement and unscripted interview. This compensation gives the creator an incentive to recommend Quantify Funds, resulting in a material conflict of interest.   Quantify Funds did not produce, review, approve, or redistribute this content and is not responsible for the opinions or statements expressed by the content creator. The creator is not a client or investor of Quantify Funds.  Any views expressed are those of the creator and do not necessarily reflect the views of Quantify Funds.
This content is provided for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Investing involves risk, including the potential loss of principal. Investors should consider a fund’s investment objectives, risks, charges, and expenses carefully before investing.

In this episode of Lead-Lag Live, I sit down with David Dziekanski, Founder and Portfolio Manager at Quantify Funds, to explain how return stacking reframes leverage from a short-term trading tool into something investors can actually buy and hold.
From combining Bitcoin and gold to stacking income strategies on top of equities, Dziekanski breaks down how diversification, embedded rebalancing, and structural design can deliver income and exposure without relying on extreme yield or constant investor intervention.

In this episode:

– Why leverage is dangerous without diversification
– How return stacking embeds rebalancing inside the ETF
– Why ultra-high yield ETFs often destroy total returns
– How income strategies can replace parts of fixed income
– Where these products fit in modern portfolio construction

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

#ETFInvesting #PortfolioConstruction #RiskManagement #Leverage #Bitcoin #Gold #StockMarket
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In this episode of Lead-Lag Live, I sit down with John Love, President and CEO of USCF, to break down why commodities are re-emerging as a critical part of portfolios as markets face inflation uncertainty, geopolitical risk, and supply fragility.
From a historic spike in natural gas driven by extreme weather to renewed risk premiums in oil, gold, and silver, John explains how commodity markets are being reshaped by geopolitics, tariffs, and structural supply dynamics and why broad exposure alone may not be enough.
In this episode:
– Why natural gas markets proved more fragile than expected
– How weather shocks and infrastructure strain drive outsized moves
– Why oil continues to carry an elevated geopolitical risk premium
– What’s fueling record highs in gold and explosive moves in silver
– How investors can think about targeted commodity exposure versus broad indexes
Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.
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In this episode of Lead-Lag Live, I sit down with Alex Shahidi, Managing Partner and Co-Chief Investment Officer at Evoke Advisors, to break down why markets heading into 2026 are forcing investors to rethink diversification, risk, and portfolio construction.
With inflation remaining sticky, political uncertainty rising, and stocks and bonds often moving together during inflation shocks, Alex explains why the traditional 60/40 framework falls short and what true diversification actually looks like in an environment defined by wide-ranging macro outcomes.
Throughout the conversation, we discuss how his work around balanced asset allocation and risk parity has evolved from theory into practice, including the thinking behind the RPAR ETFs available at RPAR Risk Parity ETF. , the broader research and conversations he hosts each week on Insightful Investor , and how this framework is implemented in real client portfolios at Evoke Advisors . Alex also shares perspectives he’s written about through his Forbes Finance Council contributions and the ideas explored more deeply in his book: Risk Parity: How to Invest for All Market Environments and Balanced Asset Allocation: How to Profit in Any Economic Climate.
In this episode:
– Why inflation uncertainty changes how diversification actually works
– How stocks and bonds can fail at the same time during inflation shocks
– What investors misunderstand about risk parity and balance
– Why assets like commodities and gold need meaningful weight to matter
– How to think about portfolio construction when outcomes are highly uncertain
Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.
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In this episode of Lead-Lag Live, I sit down with Seth Cogswell, Managing Partner at Running Oak Capital, to break down why today’s market feels increasingly speculative and why disciplined investing is being left behind.

From meme-style factor leadership and zombie-company outperformance to extreme concentration and AI spending risk, Cogswell explains why chasing returns tends to end the same way and how investors can position for when the cycle turns.

In this episode:
– Why the last eight months looked like a speculative outlier
– How high volatility and low quality leadership distorts portfolios
– How AI spending can flip from narrative to accountability
– Where discipline fits when clients still want growth exposure

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

#stockmarket #MarketBubble #AI #RiskManagement #PortfolioConstruction #Macro #Investing
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