Some of the most insightful investment conversations start with a single question: “What do you believe that most of your peers disagree with?” In this episode of Excess Returns, Jack Forehand and Matt Zeigler dive into 11 controversial investing takes—from QE and technical analysis to macro obsession and fee structures. You’ll hear nuanced perspectives from top investors who challenge conventional wisdom, and you might even find yourself rethinking your own beliefs.
🧠 This is a fast-paced, thought-provoking ride through the investment ideas most likely to start a debate at your next finance happy hour.
Topics Covered:
Why QE may always be inflationary (Andy Constan)
The case for separating advice fees from asset management fees (Rick Ferri)
Why trimming and adding to positions might be a waste of time (Chris Mayer)
A defense of free trade in a protectionist world (Jared Dillian)
Why turnover isn't always a bad thing (Travis Prentice)
Multidisciplinary investing vs. deep specialization (Cameron Dawson vs. Katie Stockton)
When it’s OK to override your quant model (Joe Gubler)
The trap of emulating famous investors (Rupert Mitchell)
The entertainment vs. value tradeoff of macro (David Giroux)
Rethinking shareholder primacy in today’s political landscape (Peter Atwater)
Timestamps:
00:00 - Intro & Why QE is Inflationary (Andy Constan)
07:20 - Separate Fees for Advice & Management (Rick Ferri)
11:00 - No Trimming or Trading Around Positions (Chris Mayer)
15:30 - AI Will Be a Net Positive (Andrew Cohen)
19:00 - The Case for Free Trade (Jared Dillian)
23:30 - Turnover Isn't Always Bad (Travis Prentice)
27:00 - Multidisciplinary Investing (Cameron Dawson)
31:00 - Investing Solely on Technicals (Katie Stockton)
34:00 - Overriding the Quant Model (Joe Gubler)
41:00 - Don’t Try to Be the Next Buffett (Rupert Mitchell)
44:00 - Macro Doesn’t Always Add Value (David Giroux)
48:00 - Shareholders Don’t Come First Anymore (Peter Atwater)
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