Deconstructing Alpha

I have been waiting a long time to host a quality podcast about value investing.  As most of you know, the investment world has been dominated by growth and technology themes over the last 2 years.  But how does that leave the rest of the investable universe?  Value stocks, small stocks, international stocks, and especially emerging markets stocks have been left behind by a very narrow thematic flow of capital to just seven stocks....

Did you know that there are three types of non-investment grade (credit) bonds in the marketplace today?  When investors think about credit bonds, they are usually referring to just high-yield bonds.  Post the Great Financial Crisis (GFC) though, the non-investment grade bond market has changed and is no longer dominated by just high-yield bonds.  Investors today also have the opportunity to invest in floating rate notes/leveraged ...

Many of you may have never heard of the Rainier International Discovery Fund.  However, Henrik Strabo, the founder and lead portfolio manager of this fund has been managing portfolios for over 30 years.  Henrik is steeped in experience and joins us to discuss how changes around the world can lead to winning investments, and to losers. 

Surprises often scare investors.  However, when changes occur, this can often mean opportunities f...

For the twelve years following The Great Financial Crisis, money market yields had remained close to 0%, and bond yields were consequently repressed.  However, today the entire bond spectrum appears to exhibit different characteristics than when the Fed Funds Rate was 0%.  Instead of low inflation, we have inflation higher for longer.  We currently have an inverted yield curve, where short-term bonds offer higher yields than longer...

In this episode we discuss managing resilient equity portfolios that can endure multiple market environments with Adam Sues of Yacktman Funds.  For those of you who don’t know Yacktman, they have been a pillar of quality focused equity management for the past 30 years.  

Morningstar might classify Yacktman as a large cap value manager, but they are so much more than this arbitrary moniker.  

Want to know more abou...

For institutional investors, First Eagle has long been one of the most revered investment firms in the nation. Their mutual funds have been a pillar of strength in Frontier portfolios, providing consistent performance year after year, for decades, even during some of the most difficult of times. If you ask them how they have been able to achieve this track record, their response will likely be “scarcity” and “persistence”.  What do...

Triumph! What an honor it was to host the famed international investor Rezo Kanovich from the Artisan International Small Mid Growth Strategy.  Frontier has been a long-term investor with Rezo and Artisan, and I was shocked to have been able to interview such an icon of international investing.

We deconstruct the importance of security selection, the opportunities before us, the inefficiencies, and risk aspects of small stock invest...

In this podcast, we interview Max Belmont, Associate Portfolio Manager for the First Eagle Gold fund.  What does First Eagle know about gold?  Well, they just might own more gold than any other private entity in the country.  How much gold can fit in a swimming pool, what is the difference between gold out of the ground and gold mining stocks, what is the role of gold in a portfolio, and how do crypto currencies factor into this en...

To kick things off for 2022, we welcome back to the show Rob Almeida – Global Investment Strategist and Portfolio Manager for MFS Investment Management.  This time around, we recap the highlights and oddities of last year, and address some of the major issues for the New Year.   High asset prices, inflation, the Fed…we address it all in this sprawling synopsis of what the heck is going on in capital markets.

So, go sit in traffic – ...

Can we deconstruct Advisors Alpha?  This is a first. We interview an investment advisor – Brandon Jansma. 

We figured that since most of our listeners are investment advisors, maybe we should interview one.

In this episode, we define Advisors Alpha with Brandon Jansma, whom we believe to be an all-around thought leader and contemplator of finer subjects. We ponder what it is to be an advisor today and venture into what the future of ...

This year, we reported on the current themes of why interest rates are so low, what is going on in China, and whether inflation is transitory or persistent.  However, we have saved one of the biggest issues for last to help prepare you for 2022 – Do Valuations Matter?  With U.S. equity markets so overvalued currently  – if you believe  traditional valuation metrics – we thought it would be prudent to check in with Frontier’s very o...

Regulation is a four-letter word in American politics, but in China, is it business as usual? 

This year, Xi Jinping – the leader of the Chinese Communist Party – passed down a laundry list of regulations that resulted in cascading unintended consequences for businesses and investors alike.  These new regulations address real estate construction leverage, private education, environmental concerns, data privacy, and even screen time ...