Lead-Lag Live

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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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.
Start your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!
Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEs
Spotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V Support the show

In this episode of Lead-Lag Live, Melanie Schafer sits down with Michael Mo, CEO of KULR Technology Group (NYSE: KULR), to explore why energy reliability is emerging as the critical constraint behind AI, robotics, drones, telecom infrastructure, and next-generation data centers.
Fresh off CES and following KULR’s newly announced $30M telecom battery supply agreement, Mo explains how high-power, high-safety battery systems are becoming mission-critical as electrification accelerates. From NASA-proven thermal technologies to lithium-ion replacements for legacy lead-acid systems, KULR is positioning itself at the center of multiple multi-year secular growth trends.
The conversation covers AI data center power resilience, UAV and drone electrification, telecom backup systems, and why battery safety, reliability, and domestic supply chains matter more than ever as power demand explodes.
In this episode:
– Why power—not chips—may be the next AI bottleneck
– KULR’s NASA-derived battery safety and thermal technologies
– The Cooler One platform and growth across drones, robotics, and aviation
– Replacing lead-acid batteries in telecom with lithium-based solutions
– Energy-as-a-Service and reducing total cost of ownership
– AI data center battery buffers and GPU-level power protection
– Scaling execution with a debt-free balance sheet and strong cash position
Lead-Lag Live brings you inside conversations with the leaders shaping markets at the intersection of technology, energy, and investing. Subscribe for insights that cut through the noise.
#AIInfrastructure #EnergyStorage #BatteryTechnology #Drones #Telecom #DataCenters #Electrification #KULR #MarketOutlook #CleanEnergy #Investing
Start your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!
Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEs
Spotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V Support the show

In this episode of Lead-Lag Live, I sit down with Kaitlyn Walsh, Wealth Advisor and Equity Analyst, to break down what employees actually own when they receive stock options and why misunderstanding equity compensation can lead to costly mistakes.
From incentive stock options and vesting schedules to fair market value, AMT exposure, and record-keeping errors, Walsh explains the decisions that matter most before, during, and after an equity grant and why timing, taxes, and planning can make or break outcomes.
In this episode:
– Why stock options are not the same as owning shares
– How strike price and fair market value really work
– The biggest vesting and exercise mistakes employees make
– When stock options can trigger unexpected tax bills
– Why poor record keeping can cost real money years later
Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.
#StockOptions #Equity #PersonalFinance #WealthPlanning #TaxPlanning #FinancialEducation #Investing #Money
Start your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!
Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEs
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Artificial intelligence is driving one of the largest capital spending cycles in market history, yet most AI investment strategies focus on surface level exposure rather than true innovation. In this Lead-Lag Deep Dive, Melanie Schaeffer sits down with Aram Babikian of Xtrackers to examine how AI investing is evolving and why research intensity and patent activity may matter more than headlines.
The discussion breaks down the structure behind XAIX, an AI focused ETF designed around companies that are actively building, protecting, and monetizing innovation. Babikian explains how patent filings and R and D spending act as forward looking signals, why unexpected companies like major banks appear in AI portfolios, and how this approach differs from more crowded thematic strategies.
They also explore how XAIX fits alongside broader technology exposure, the tradeoffs between concentration and diversification, and how advisors think about incorporating AI into portfolios amid volatility, regulation, and rapid technological change.
In this episode:
Why AI investing is not the same as buying tech stocks
How patent activity and R and D spending identify true innovators
Why non tech companies can be major AI beneficiaries
How XAIX differs from broader thematic AI exposure
How investors think about sizing AI allocations responsibly
Lead-Lag Deep Dive is a weekly series that breaks down the forces reshaping global markets. Each episode goes beneath the surface of one critical theme, examining how strategies are built, where risks hide, and what matters most for investors across cycles and asset sizes. Subscribe for research-driven insight beyond the noise.
#AI #ArtificialIntelligence #ThematicInvesting #ETFS  #PortfolioStrategy #Finance #MacroTrends
Start your adventure with TableTalk Friday: A D&D Podcast at the link below or wherever you get your podcasts!
Youtube: https://youtube.com/playlist?list=PLgB6B-mAeWlPM9KzGJ2O4cU0-m5lO0lkr&si=W_-jLsiREjyAIgEs
Spotify: https://open.spotify.com/show/75YJ921WGQqUtwxRT71UQB?si=4R6kaAYOTtO2V Support the show