Investology: Investment Management Intelligence

My "skeptic" approach to investment management applies to the trends, news, flavors of the month that populate the investment universe. But what about the theory and "rules" quoted in opposition to the fads? A true skeptic needs to question their validity and utility as well — and if you follow this podcast, that includes the Bogle truisms, or "Bogleisms," that I regularly like to quote. That's the conversation we have with Theodore Hicks, author of Evidence-Based Investing.1You can listen to the podcast on Substack or every podcast player.I published an extended version of the conversation on YouTube.We go through:Modern Portfolio Theory (Markowitz) — Correlation, a key component of this theory is not static and goes to one in crises, undermining the whole approach.Buy-and-hold / Boglehead school of thought — The idea that you should “keep it simple, buy and hold, and it’ll all work out in the end”. Theodore doesn’t dismiss it outright but argues it doesn’t work for every timeframe, especially near retirement.Buy the dip — The commonly held belief that the best strategy is always to buy market dips. Theodore argues it “works until it doesn’t” and is especially risky in a rising interest rate environment.Long-term stock market average returns — The claim that the US market averages ~8% over 100 years. Theodore calls this “100% true” but “100% irrelevant” because no individual has a 100-year time horizon.Diversification (traditional) — The conventional approach of diversifying across asset classes. Theodore doesn’t reject diversification but argues for diversifying across strategies instead, since traditional diversification fails when correlations converge in crises.Declining interest rate environment as the default — The implicit assumption (held by most in the industry) that rates will keep falling. Theodore argues we’ve shifted to an upwardly biased rate environment, which changes everything for stock market strategy.Subscribe nowReferencesLinksGeorge: https://www.linkedin.com/in/george-aliferis/Theodore: https://www.linkedin.com/in/tim-mcglinnhttps://www.theodorehicks.com/freechapter (Book: read a free chapter)https://www.hicks-associates.com/ (Financial planning)About Theodore HicksHe is the founder and Chief Investment Officer of Hicks and Associates Wealth Management, a boutique asset management firm in Cary, North Carolina. Drawing on more than two decades of experience in financial planning and portfolio management, Theodore leads a team that applies a rule-based, multi-strategy framework to actively manage risk and growth for clients across the United States. About George AliferisFounder or Orama, ex-banker, ex-sales, working at the intersection of investment management, media & marketing.LinkedIn: https://www.linkedin.com/in/george-aliferis/DisclaimerThis video is for informational and educational purposes only and should not be construed as investment, legal, or financial advice. Consult qualified professionals before launching financial products or making investment decisions.MUSIC CREDITSBrandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303Artist: http://incompetech.com/1There is at least one other book called Evidence-Based Investing and a few attempts at claiming the evidence-based concept. This is unrelated, it simply is the title Theodore has chosen for his book, based on his research. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

What does it actually take for wealth managers and asset management firms to bring an exchange-traded fund (ETF) to market? I speak with Raymond Bridges of Bridges Capital . Who’s launched the Bridges Capital Tactical ETF in 2023, raised its first $40 million and is now looking for the next stage of growth. I’m very grateful to Raymond for the way he shared everything about the process, the costs, the challenges and the opportunities he sees.Key Topics Covered include:* Regulatory workflows and trust structures* Cost considerations & capital requirements for launch* The role of Authorized Participants (APs) and market makers* Distribution strategies Watch it on YouTube or listen on the Substack player or on every podcast app.Below are a few selected quotes, with my comments:The ETF upsideFor context: a lot of Bridges Capital advisory clients have moved assets to the ETF. This implied a financial hit as the ETF carries lower fees than the 1% Raymond charged for advisory. There are also one-off launch costs and ongoing operational costs.A lot of clients, they buy you, they buy the investment advisor, they buy an idea and a personality, but there's not really a chart. An ETF gives you that ability to put your performance out there, and it's like the world stage. Everybody can see it.For clients the upside is on fees and tax efficiencies. For the ETF sub-advisor (the technical term for the specific setup chosen by Raymond), it’s the possibility to reach investors without boundaries and through a performance chart.Launching and running an ETFWe went through the setup via a whitelabel platform, including the costs: It costs roughly under my program, what I have, it's about a quarter million dollars a year in expenses to have the ETF, where I wouldn't have that expense at all if, I just ran a normal advisory firm.It has become considerably easier and cheaper from what I remember from my time at an ETF issuer. There’s a staggering amount of ETFs, and 2026 saw 1900 launches so far!The number of funds is outpacing the rapid growth of assets and it’s hard to see this trend slowing down.Distribution, Distribution, DistributionDistribution is to the ETF industry what location is to real estate.The big game is distribution. With the ETF, we have a benefit of having the chart, and anybody can buy it as long as you're on an open architecture platform. But som many platforms are actually closed.But while in real estate the repetition is to emphasize on location, I see different types of distribution in ETFs.* Platforms: you need to work to get listed on the ones that don’t do it automatically* Sales: in the case of BDGS it means one-on-one calls with private advisors large and small* “Grassroot distribution”: (for lack of a better term) the one that the industry doesn’t really leverage that I discussed in previous articles: brand became distribution, ETFs should be consumer brandsWatch the episode on YouTube or listen to it on every podcast app.ReferencesAn episode produced by Orama: Thought leadership videos & podcastshttps://orama.tv/About Raymond Bridges, CPA:Raymond Bridges founded Bridges Capital in 2018 after years at Wells Fargo. He built an active risk management process specifically to reduce the depth of those drawdowns, tested it through COVID, and packaged it into BDGS — the Bridges Capital Tactical ETF, which launched on the Nasdaq in May 2023.LinkedIn: https://www.linkedin.com/in/raymond-bridges-cpa-a789b331/https://www.mycertifiedteam.com/bc/https://www.nasdaq.com/authors/bridges-capitalAbout BDGS:https://bridgesetf.com/The Bridges Capital Tactical ETF (BDGS) seeks to provide capital appreciation while preserving capital during market drawdowns.About George Aliferis:Founder or Orama, ex-banker, ex-sales, working at the intersection of investment management, media & marketing.LinkedIn: https://www.linkedin.com/in/george-aliferis/Disclaimer: This video is for informational and educational purposes only and should not be construed as investment, legal, or financial advice. Consult qualified professionals before launching financial products or making investment decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

Welcome to the Skeptic’s Guide to Investment Management. In each episode, we examine one industry publication through a skeptical, logical, evidence-based lens, with the help of Tim McGlinn, ex-investment consultant, portfolio manager and professor of finance, and founder of the TheAltView .We discuss a Neuberger Berman 2025 report pitching alternative (private) investments in 401(k) plans. The “illustrative” report assumes private equity chosen by Neuberger Berman earns 15.30% per year after fees for 40 years, while US large caps return just 5.77% after fees—making a 10% private equity allocation look like an easy way to retire richer. The private equity boost relies on assuming investors can invest only via co-investments (lower fees), which Tim says isn’t realistic because you typically need to be an LP in funds to access them. They also note the equity forecast is dragged down by assuming active-manager fees and persistent underperformance for decades—odd for a firm selling active equity. Tim contrasts this with AQR assumptions showing private equity (5.1%) below US equities (6.5%).Key takeaway: any 15% long-term promises is an alarm bell.Link to Tim’s original articleNeuberger Berman & Alternative InvestmentsMore content like this on Substack and YouTube:YouTube: https://www.youtube.com/@investology_podcastInvestoramaTheAltViewFind us on LinkedInGeorge: https://www.linkedin.com/in/george-aliferis/Tim: https://www.linkedin.com/in/tim-mcglinnSGIM is an Investology podcast series, produced by Orama: https://orama.tv/MUSIC CREDITSBrandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303Artist: http://incompetech.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

There’s no shortage of news about institutions launching tokenized money market funds (MMF): Blackrock, JPMorgan, State Street, BNY, the list goes on.We hear less about adoption. Assets have grown from near zero to $15B, which sounds impressive until you compare it to over $7T sitting in US MMFs today.The chart below shows the efficiency gains tokenization unlocks, but how many participants are feeling the pain of the current T+2, multi-step process acutely enough to move? That question points directly to where the tipping point for adoption will come from.Treasurers feel that pain. But not those at tech firms or Fortune 500 companies — they already have direct access to institutional cash management solutions through their mega-bank relationships. And not Bitcoin enthusiasts parking a volatile asset on their balance sheet.Based on my conversation with Tanner Taddeo, CEO and co-founder of Stable Sea, the real candidate is the most unlikely one. The middle-market treasurer: naturally conservative, not a tech cheerleader, and currently underserved by the infrastructure being built for everyone else.We covered:* The Mid-market treasury gap: Large companies get white-glove capital markets access from major banks, but mid-market/lower-mid-market companies are typically stuck with just a checking account and no access to yield-generating products.* The benefits of tokenization: access the same money market funds but with 24/7/365 trading and near-instant (~10 min) settlement vs. the traditional T+2.* Custody and trust mechanics: for Real World Assets.* Adoption outlook and barriers: what it takes for conservative treasurers to embrace a tokenized solution.And a lot more.Watch it on YouTube or listen on every podcast app.Selected QuotesThe problem Stable Sea Solves:“We help companies access capital markets products. We offer money markets, we offer fixed income products and we offer some additional securities through the platform.It’s different from some of the other products that exist on the market today because we give access to tokenized money market funds and tokenized fixed income products. And the value add there is that you can trade those funds twenty-four seven, three sixty-five, and then settlement is near instant.So you don’t have to wait two days, to get liquidity out of some sort of security. , you don’t also have any lockup periods associated with those investments, and there’s also no minimums.”I must say that we discussed tokenization in a couple of previous episodes (see below) of the podcast, and I was never convinced. You can tokenize gold bars and maybe it makes you feel like you own it and other benefits compared but a gold tracker ETP works really well. But here, instant liquidity instead of T+2 for treasuries - I get it.We don’t NEED to understand the technology (only trust it):“When the credit card came out, it was a new technological way to efficiently move money between consumers and merchants and then instill trust between the banks. So if I swipe my card at a Starbucks, Visa can help authenticate and move funds between my bank account and Starbucks' bank account. So there's complexity in virtue of how the technology works, but at the end of the day, it's just a more efficient way to help share value between two counterparties.”Tanner distances his application from the volatile (and often dodgy) world of cryptocurrencies. But Treasurers still need to understand the technology, but you need to present it the right way.Leading with the right narrative:“Treasurers, finance teams, CFOs rightly so, are some of the most conservative people out there. Because the number one golden rule in the corporate treasury handbook is do not lose the company's money. And a lot of the finance teams don't buy on innovation, they buy to de-risk something. So you have to really lead with a narrative of security, and trust and compliance and all those things.”The Theseus Ship of financial infrastructureThe global financial system is going to slowly, almost like Theseus’s ship, be replaced, by some of this blockchain and Stablecoin infrastructure. And so we like to lead with with content, but more importantly than content, it's actually sitting down with and convening with people, showing them how the product works, and then just having that conversation.As an avid reader of Greek mythology, I didn’t know the expression, but it’s a very powerful way of thinking of innovation and change management.About Tanner Taddeo:Tanner Taddeo is the CEO of Stable Sea, a company helping enterprises modernize global payments and treasury operations with stablecoins. Tanner started his career in humanitarian finance, worked in investment banking across emerging markets and later helped build real-time payment systems for central banks with a Gates Foundation backed company. He’s also held roles at Plaid and Block’s TBD, shaping the future of open and decentralized finance. At Stable Sea, Tanner brings that experience together to bridge traditional and digital finance while making stablecoins a cornerstone of faster, more inclusive global paymentshttps://www.linkedin.com/in/tanner-taddeo-9b64562a/https://www.stablesea.com/Related episodes:About the Investology podcast:Investology is the investment management intelligence show. Where innovators, investors, authors and experts discuss the future of investment management beyond the hype.Listen on every podcast platform, or watch on YouTube.An episode produced by Orama:https://orama.tv/Thought leadership videos & podcasts.About George Aliferis:Founder or Orama, ex-banker, ex-sales, working at the intersection of investment management, media & marketing.LinkedIn: https://www.linkedin.com/in/george-aliferis/Our Other Channels* Investorama - Bridging the Institutional Knowledge Gap (YouTube)* Orama’s newsletter & the Unsloppable podcast for marketers and revenue teams in complex industries, like investment management: This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

Shipping fascinates me. The industry usually quietly carries approximately 80% of all internationally traded good. Tankers reach 400m long and carry loads of $200m+ worth of oil. But the best part of it is the 4D multi-year chess game played across the globe, by an industry that can be as profitable as it is cyclical.Watch it on YouTube or listen on the Substack player or every podcast app.Key topics discussed* The math behind 30% returns on $140M assets.* Managing risk in a highly cyclical, capex-heavy industry.* Why Japan and China are rebuilding global oil storage.* The "one-stop shop" model for financial investors in shipping (the Uber of Shipping).SummaryPankaj Khanna, CEO of Nasdaq-listed Heidmar, discusses how shipping and freight underpin the global economy, focusing on oil tanker markets. He shares his path from an Indian merchant navy cadet to CEO and 45% owner, and explains Heidmar’s growth since 2019 from six ships and six people to managing 65 vessels across six global offices with 65 staff. Heidmar is a non-asset-owning, debt-free, “one-stop shop” providing ship acquisition support, financing and corporate setup, technical management (crews, SMS), and commercial management (employment with oil majors and traders enabled by long-standing KYC approvals), earning daily fees and commissions on freight. The discussion covers spot freight economics, investor types, traders’ roles, shipping cyclicality driven by geopolitics, distance and fleet supply, and Heidmar’s long-term digital platform and AI initiatives to optimize operations, alongside the company’s EBITDA-multiple valuation versus NAV.LinksHeidmarhttps://www.heidmar.com/Pankaj Khanna on Linkedin https://www.linkedin.com/in/pankaj-khanna-69746b1/About Investology:A podcast dedicated to investment management intelligence and uncovering new ways to deliver better outcomes for investors. Audio: https://pod.link/the-fintech-filesNewsletter: https://investorama.substack.com/About the Host:George Aliferis, CAIA is the founder of Orama, where he produces content for financial brands and tech companies. Before that, he spent over a decade structuring, marketing and selling complex financial products to institutional clients in Europe and Asia.https://www.linkedin.com/in/george-aliferis/An episode produced by Orama: https://orama.tv/Sales-driven video strategies. Accelerate sales to the financial industry with content that builds trust and drives pipeline.TIMESTAMPS00:00 Pankaj’s Journey to CEO01:20 Heidmar’s Comeback Story04:11 Why Shipping Chose Him06:12 Inside Tanker Management11:06 Investor Returns and Fees17:34 Uber of Shipping Tech Stack22:33 Traders and Market Cycles34:46 Misconceptions about ShippingThanks for reading Investorama! Subscribe for free to receive new posts and support my work. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

Can you outperform the world’s smartest hedge funds by simplifying their strategies?George sits down with Andrew Beer, Co-Portfolio Manager at DBi, to discuss why you can beat hedge funds through simplicity. We deconstruct how managed futures investing strategy can disrupt the industry by delivering institutional-grade alpha within the efficient framework of an ETF.The Narrative Shift: We explore the marketing "theatre" of complexity—the rooms full of PhDs and black-box models—and contrast it with the reality of harvesting macro trends. Andrew explains how moving these strategies from private funds to the ETF wrapper isn't just about lower fees; it's about a fundamental shift in how professionals access Managed Futures (CTAs).Key topics:Replication vs. Selection: Why "copying" the big macro moves of the industry often beats picking individual winners.The Alpha-Fee Gap: How stripping out 400-500 BPS of fees directly translates to investor returns.ETFs as the Great Equalizer: Why the sub-advised ETF model is the future for institutional allocators and wealth managers.Portfolio Construction: The role of CTAs (officially Commodity Trading Advisory but Andrew prefers Contrarian Tactical Alpha) in the traditional 60/40 portfolio.LINKSAndrew Beer on LinkedIn: https://www.linkedin.com/in/andrewdbeer/https://dbi.co/About Investology:A podcast dedicated to investment management intelligence and uncovering new ways to deliver better outcomes for investors. About the Host:George Aliferis, CAIA is the founder of Orama, where he has produced content for many financial brands and multinationals like Amazon, Expedia, Louis Vuitton, and Unilever. Before that, he spent over a decade structuring, marketing and selling complex financial products to institutional clients in Europe and Asia.https://www.linkedin.com/in/george-aliferis/An episode produced by Orama: https://orama.tv/Sales-driven video strategies. Accelerate sales to the financial industry with content that builds trust and drives pipeline. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

 Welcome to the Skeptic’s Guide to Investment Management. In each episode, we examine one industry publication through a skeptical, logical, evidence-based lens, with the help expert guests.This one is a macro special featuring Dylan Smith from ArcMacro.If you feel there’s “a lot of macro” happening these days. And that the next declaration might “change the macro landscape”. Then the chat is the perfect antidote to help you think straight and remind you that we tend to overstate the impact of political decision.  Key takeaway: The macro-driven cyclical and structural processes drive political decision and news. It’s not the other way around.If you'd like to support this show please take a minute to leave a 5-star review on your favourite podcast app.Relevant linksFull conversation and notes: https://investorama.substack.com/p/a-macro-framework-for-hybrid-portfoliosSign up to Investology’s free newsletter: https://investorama.substack.com/Sign up to ArcMacro’s free newsletter:https://arcmacro.substack.com/George Aliferis: https://www.linkedin.com/in/george-aliferis/Dylan Smith: https://www.linkedin.com/in/dylan-smith-78284b50/SGIM is an Investology podcast series, produced by Orama: https://orama.tv/MUSIC CREDITSBrandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303Artist: http://incompetech.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

It’s great to be back on the podcasting seat! Watch it on YouTube or listen on every podcast app. This podcast is about gathering investment management intelligence. It’s not an investment podcast where we discuss macro itself. Yet macro matters. This was a rare opportunity to understand how it works for sophisticated hybrid investors, and what goes on behind the scenes by talking to Dylan Smith from ArcMacro (Tangents on Substack).A few selected quotes from our conversationMacro for private market investorsIf you have in mind private market performance, […] it's long term and returns are driven by slightly different things, although they are affected by macro. We've re-looked at the economics toolkit. We've kept most of it, but we've shifted the focus to say, okay, we've got to be a lot more long term. We've got to be a lot more structural.That’s Dylan key differentiator. He’s serving private market LPs. But I think his framework is applicable to anyone with a longer term perspective.Signal vs. Noise - 2026 version  Every time someone meets me for the first time, it's, "Oh, you're an economist. What a great time to be an economist," like, "There's so much chaos in the world."I did not bring up the famous Lenin quote in the conversation: “There are decades where nothing happens; and there are weeks where decades happen” although I had it in mind after Venezuela, Iran. But the conversation showed me I was making a common mistake: People tend to view often developments almost as entirely political, and I think partly that's the news media's fault because that's their natural lens as they report.We went on to discuss this signal and noise in more depth. But ultimately having a solid macro grounding helps to avoid investment biases. But it doesn’t mean you should only stay the course without doing anything. We also talked about hedging, and shifts in allocation.Assign probabilities Our primary framework is scenario-based. But it's not just sticking our fingers in the air and saying, there's a whole universe of things that could happen. It's based on understanding that, events now chain into the future, and they can branch away. But we can assign pretty good probabilities around that by mixing some fairly sophisticated modeling and data.This is quite different, and a lot more practical from thge traditional perspective of an economist producing ONE forecast, usually with a lot of caveats.AI and the Dunning-Kruger effect in macro AI is about averages, and it's backward-looking. It produces the next most likely token based on its understanding of all the past information. You're trying to think about scenarios, what might happen in the future and what's important about the differences and inflection points. Like, is this a meaningful shift in the kind of structure of the economy? It’s too sophisticated for AI to answer. It will give you an answer, and it will sound confident about it, but there's a huge amount of risk in that. And if you already have certain biases or you're low down on the Dunning-Kruger scale, or you know you're not great at macro, but you get this kind of answer it's very tempting to treat that as the truth and act on it.We covered a lot, and yes of course we spoke about Iran and the Trump administration too.Related episode:About Dylan Smith:Dylan Smith is the independent chief economist for private markets. Combining experience in macroeconomics and alternative investing he delivers insights with the frequency, horizon and granularity that private markets need.https://arcmacro.com/https://www.linkedin.com/in/dylan-smith-78284b50/About the Investlogy podcast:Investology is the investment management intelligence show. Where innovators, investors, authors and experts discuss the future of investment management beyond the hype.Listen on every podcast platform, or watch on YouTube.An episode produced by Orama:For fintechs and enterprise vendors selling to financial institutions. We turn your expertise into narratives that build trust and relationships with decision-makers.About George Aliferis:Founder or Orama, ex-banker, ex-sales, working at the intersection of investment management, media & marketing.LinkedIn: https://www.linkedin.com/in/george-aliferis-60078312/My Other Channels* Investorama - Separating Investment Facts from Financial Fiction (YouTube)* Orama’s newsletter & Unsloppable podcast for marketers and revenue teams in complex industries: This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

Welcome to the Skeptic’s Guide to Investment Management. In each episode, we examine one industry publication through a skeptical, logical, evidence-based lens, with the help of Tim McGlinn, ex-investment consultant, portfolio manager and professor of finance, and founder of the TheAltView.We discuss a 2025 Mercer report claiming that adding a 20% allocation to private investments (venture capital, private equity, real estate, etc.) could boost target-date fund expected returns by 1% (7.1% vs. 6.1%). The catch: Mercer assumes public markets earn plain market returns, while private assets magically get “above-average manager” performance forever—because everyone’s an above-average driver. Tim also highlights Mercer’s conflict of interest as a consultant that sponsors private equity funds, plus ERISA’s heavy fiduciary burden on employers, making glossy sales pitches even more problematic.Key takeaway: we’re not all above average drivers or fund pickers.Link to Tim’s original article:TheAltViewSGIM is an Investology podcast series, produced by Orama: https://orama.tv/More content like this on Substack and YouTube:YouTube: https://www.youtube.com/@investology_podcastInvestorama on SubstackTheAltView on SubstackFind us on LinkedInGeorge: https://www.linkedin.com/in/george-aliferis/Tim: https://www.linkedin.com/in/tim-mcglinnSGIM is an Investology podcast series, produced by Orama: https://orama.tv/MUSIC CREDITSBrandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303Artist: http://incompetech.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com

Welcome to the Skeptic’s Guide to Investment Management. In each episode, we examine one industry publication through a skeptical, logical, evidence-based lens, with the help of Tim McGlinn, ex-investment consultant, portfolio manager and professor of finance, and founder of the TheAltView.The episode examines a report by the Georgetown University Center for Retirement Initiatives, produced with Willis Towers Watson, that you can find here:https://cri.georgetown.edu/research/Tim found a headline claim that investors could retire with 17% more, driven by 40 years of compounding, based on the assumption of access to above-average managers for all retirees.Link to Tim’s original articleGeorgetown & Willis Towers WatsonMore content like this on Substack and YouTube:YouTube: https://www.youtube.com/@investology_podcastInvestorama on SubstackTheAltView on SubstackFind us on LinkedInGeorge: https://www.linkedin.com/in/george-aliferis/Tim: https://www.linkedin.com/in/tim-mcglinnSGIM is an Investology podcast series, produced by Orama: https://orama.tv/MUSIC CREDITSBrandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303Artist: http://incompetech.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit investorama.substack.com