Drew Estes, CFA: Investing through an Evolutionary Lens
Release Date: 09/16/2024
Mark Higgins, CFA: Private Credit, Caution, and the Lessons of Financial History
Enterprising Investor
At CFA Institute LIVE 2025, returning guest Mark Higgins, CFA, sat down with guest host Lotta Moberg to explore the rise—and risks—of private credit. With a historical perspective and a sharp eye for market cycles, Mark challenges the prevailing optimism, drawing parallels to past investment booms and offering a compelling case for greater caution. He also examines the expanding role of consultants and questions common assumptions in portfolio construction. A must-listen for anyone navigating the complex terrain of private markets.
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Andrew Ang: Value Investing and Portfolio Strategies
Enterprising Investor
Andrew Ang—former BlackRock executive, Columbia professor, and advisor to Sarawak’s sovereign wealth fund— explores the intersection of personal journey and professional insight in modern investing. From the severe value investing drawdown between 2018 and 2020 to the strategic comeback post-COVID vaccine announcements, Andrew unpacks lessons from one of the most turbulent financial periods in history. He also discusses how investors can build resilience into their portfolios, the nuanced role of crypto assets, and the growing importance of tax-efficient strategies in long-term wealth...
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Eric Hanno, CFA: Unlocking Opportunities in a Volatile Market
Enterprising Investor
Eric Hanno, CFA, is co-head of Apollo Global Management's Apollo Aligned Alternatives (AAA) strategy. He and host Mike Wallberg, CFA, discuss the current market dynamics for semi-liquid investments amid high levels of uncertainty and volatility in public markets. Eric shares insights on consumer and business confidence trends, the impact of tariffs, and the overall energy in Apollo's offices. With a focus on how investors can effectively allocate semi-liquid assets into their portfolios, this episode provides valuable perspectives for navigating today's investment landscape. Tune in for expert...
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Dan Boston: Volatility, Valuation, and the International Opportunity Set
Enterprising Investor
Dan Boston, Lead Manager of Polar Capital’s International Small Company Fund (PCSCX), shares his perspective on why international equities may be poised for a resurgence. The conversation unfolds amid sharp market volatility following President Trump’s announcement of sweeping new tariffs. With global markets down significantly, Dan and Mike explore the broader implications for asset classes including U.S. treasuries, oil, and international stocks. Tune in for a timely discussion on where global opportunities may lie in today’s unsettled investment landscape. This podcast is sponsored by...
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Danielle DiMartino Booth: Recession Signals, Inflation Trends, and Market Implications
Enterprising Investor
Renowned economist and former Federal Reserve advisor Danielle DiMartino Booth joins host Mike Wallberg, CFA, for a hard-hitting conversation about the real state of the U.S. economy. From the under-the-radar signs of a recession to the shifting credit landscape, Danielle unpacks why traditional metrics may be missing the mark—and what investors should really be watching. The conversation digs into retail bankruptcies, private credit vulnerabilities, and how the gig economy is quietly reshaping the labor market. Plus, Danielle shares timely insights on inflation, student debt, reshoring, and...
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Peter Zeihan: America’s Evolving Geopolitical Landscape
Enterprising Investor
Geopolitical strategist and bestselling author Peter Zeihan returns for a deep dive into the shifting global order. He and host Mike Wallberg, CFA, explore the evolving role of the US in international trade, the economic impact of demographic shifts, and how America's political landscape is reshaping its strategy on the world stage. Peter unpacks the forces driving today’s geopolitical and economic upheaval, offering insights on what the future holds for investors, businesses, and nations alike. Be sure to catch both Peter and Mike at CFA Institute LIVE 2025 in Chicago this May! This podcast...
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Peter Lazaroff, CFA: The Mindset and Strategies of a Long-Term Investor
Enterprising Investor
Join us for a special crossover episode of Enterprising Investor, where host Mike Wallberg, CFA, sits down with The Long Term Investor podcast’s Peter Lazaroff, CFA, for a lively and thought-provoking conversation. Together, they dive into the key influences that have shaped their investing philosophies and personal worldviews, sharing insights gleaned from their experiences with a wide range of guests. This episode is packed with actionable takeaways as they explore the powerful intersection of investment strategies and personal growth. Tune in now for this unique podcast crossover,...
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Cheryll-Ann Wilson, CFA: A Workflow Analysis of Big Data in the Investment Management Process
Enterprising Investor
Senior Affiliate Researcher at CFA Institute, Cheryll-Ann Wilson, CFA, discusses the recently published CFA Institute Research & Policy Center report, “Creating Value from Big Data in the Investment Management Process: A Workflow Analysis.” Cheryll-Ann shares insights from her research, which involved a comprehensive survey and interviews with investment professionals worldwide. The conversation explores the use of AI and big data technologies in the finance sector, highlighting the challenges and opportunities that practitioners, regulators, and executives face in adopting these...
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Olivier Fines, CFA, and Mark Higgins, CFA: The Role of the U.S. Dollar as a Global Reserve Currency
Enterprising Investor
In this episode, Mike welcomes Olivier Fines, CFA, Head of Advocacy and Capital Markets Policy Research for EMEA at CFA Institute, and Mark Higgins, CFA, author of "Investing in U.S. Financial History." The discussion centers around the findings of a recent CFA Institute Research and Policy Center report titled "The Dollar's Exorbitant Privilege," which Olivier co-authored. Olivier shared insights from the survey report, and Mark provided a historical perspective on reserve currencies and events that have triggered shifts away from dominant currencies in the past. This engaging conversation...
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Amanda Voegeli, CFA: Insights from Canadian Pension Plans
Enterprising Investor
Mike Wallberg, CFA, welcomes Amanda Voegeli, CFA, President and Managing Partner of Southlea Group, to discuss the unique landscape of Canadian public sector pension plans. The conversation dives into the competitive challenges these plans face in attracting and retaining talent compared to private finance giants such as Blackstone and Goldman Sachs. Amanda also highlights findings from a recent study by Southlea Group that sheds light on compensation strategies and talent retention within these massive public entities. Tune in for valuable perspectives on the intersection of pension...
info_outlineDrew Estes, CFA, a portfolio manager at Banyan Capital Management, and host Mike Wallberg, CFA, discuss Drew’s thought-provoking article, "Commercial Evolution," which explores the intersection of evolutionary biology and investment strategies. He shares his disillusionment with traditional economic theories, particularly equilibrium theory, and advocates for a broader understanding of economics by incorporating biological concepts. Drew explains how both economists and biologists study the same phenomenon—evolution—and highlights the importance of replication, heritable traits, and variability in commerce. Listen now to discover how evolutionary theory can lead to smarter investment decisions.