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Excess Returns

Excess Returns
Value Investing
Investing
Risk Management
Long-Term Investing
Market Volatility
Factor Investing
Investment Philosophy
Diversification
Federal Reserve
Asset Allocation
Inflation
Investment Management
Charlie Munger
Behavioral Finance
Generative AI
Asset Pricing Theory
Momentum Investing
Resurrecting the Value Premium
Momentum
ETF Architect

Excess Returns is dedicated to making you a better long-term investor and making complex investing topics understandable. Join Jack Forehand, Justin Carbonneau and Matt Zeigler as they sit down with some of the most interesting names in finance to discuss topics like macroeconomics, value investing, factor investing, and more. Subscribe to learn along with us.

PublishesDailyEpisodes433Founded6 years ago
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Artwork for Excess Returns

Latest Episodes

In this episode of Excess Returns, we sit down with Paul Eitelman, Global Chief Investment Strategist at Russell Investments, to unpack their 2026 outlook and the idea of a “Great Inflection Point” for markets and the economy. Paul explains why the U... more

In the latest episode of Click Beta, Matt Zeigler, Dave Nadig and Cameron Dawson take a look back at 2025 and a look forward to 2026. Subscribe to Click Beta via the links below.

Follow Click Beta:

Spotify

⁠https://open.spotify.com/show/0u1fxie4C... more

In this episode of Excess Returns, we sit down with Adrian Helfert of Westwood to discuss how investors should be thinking about portfolio construction in a market shaped by artificial intelligence, high levels of concentration, shifting interest rat... more

YouTube

In this special episode, Adam Butler and Ben Hunt join Matt Zeigler to unpack one of the most charged debates in markets and economics today: whether our official statistics still reflect lived reality. Building on Mike Green’s work and Adam Butler’s... more

YouTube

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Recent Guests

David Wright
Head of quantitative investing at Pictet Asset Management
Pictet Asset Management
Episode: The Alpha No Human Can Find | David Wright on Machine Learning's Hidden Edge
Andrew Beer
Founder of Dynamic Beta Investments and expert in managed futures
Dynamic Beta Investments
Episode: Why Most Investors Won't Buy the Best Diversifier | Andrew Beer on Managed Futures
James Grant
Founder of Grant's Interest Rate Observer and a respected finance commentator
Episode: The Thunderclap That Ends the Cycle | Jim Grant on the Risk No One Sees
Mary Ann Bartels
Chief investment strategist at Sanctuary Wealth
Sanctuary Wealth
Episode: The Pattern Is Staggering | Mary Ann Bartels on Why This Bull Market Is Just Getting Started
Al Green
Founding partner at Green Wealth Management Group
Green Wealth Management Group
Episode: The Pattern Is Staggering | Mary Ann Bartels on Why This Bull Market Is Just Getting Started
Carl Kaufman
Co-president and co-CIO at Osterweis Capital Management
Osterweis Capital Management
Episode: The Risk Isn't Where You Think | Carl Kaufman on AI Capex, Private Credit and the Hidden Bond Play
Dave Nottig
Market expert and podcast guest
ETF.com
Episode: The Bull Market Where Everyone Feels Broke | Behind the Rise of Financial Nihilism
Bill Bengen
Financial planner known for developing the 4% rule for retirement withdrawals.
Author of A Richer Retirement
Episode: He Invented the 4% Rule | Bill Bengen on Why He Now Thinks 5% Works
Michael Mauboussin
Author and well-known expert on investing principles
Episode: The Most Powerful Investing Tool You Aren’t Using | Four Lessons from Michael Mauboussin

Hosts

Jack Forehand
Co-host of the show and Principal at Validea Capital Management, Jack contributes extensive knowledge about investing strategies and market insights.
Justin Carbonneau
Co-host with deep expertise in investment strategies, focusing on educating listeners about finance.
Matt Zeigler
Co-host who engages guests and contributes insights into financial topics, enhancing the educational experience for listeners.

Reviews

4.8 out of 5 stars from 153 ratings
  • You guys are killing it

    Excellent job 👍

    Apple Podcasts
    5
    Qrrvjkgxhjlkvg
    United Statesa month ago
  • Great show and many thanks for such brilliant guest in this episode.

    Podcast Addict
    5
    alpha
    6 months ago
  • Rob Arnott

    Rob Arnott is arrogant and partisan. His view on Covid is absolutely ridiculous.

    Apple Podcasts
    1
    maybdihjlz
    United States7 months ago
  • Like the show

    Excellent job

    Apple Podcasts
    5
    Qrrvjkgxhjlkvg
    United Statesa year ago
  • Super informative!

    This podcast is a must listen for anyone looking to enhance their investing strategies and understanding of finance. Jack and Justin are highly knowledgeable and each episode is filled with valuable insights.

    Apple Podcasts
    5
    maddie@podcastingyou
    United States4 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Some critiques mention that certain guests may share controversial views, but this is usually counterbalanced by the depth of industry insight provided. There's an overall positive reception emphasizing content quality.
Listeners praise the podcast for its ability to make complex financial topics accessible and understandable. Most reviews highlight the depth of knowledge shared by both hosts and guests.
The engaging discussions and quality of expert guests are often noted, with many appreciating the educational value of the content.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

The Alpha No Human Can Find | David Wright on Machine Learning's Hidden Edge
Q: Do you think machine learning will make traditional factor strategies better?
Yes, there's potential to improve factor strategies using machine learning, especially in analyzing sell-side reports and earnings call transcripts.
The Alpha No Human Can Find | David Wright on Machine Learning's Hidden Edge
Q: How does that work with like the training aspect of it?
Training involves defining input features related to a stock and the desired outcome, along with training algorithms on historical data to forecast stock returns.
The Alpha No Human Can Find | David Wright on Machine Learning's Hidden Edge
Q: Can you just kind of explain what you mean, what you think about when you hear the words like artificial intelligence used when powering an investment strategy or process?
AI means a machine performing functions usually done by humans, with a focus on machine learning as a process where algorithms are trained on data rather than programmed.
The Existential Spending Battle | Adrian Helfert on What You’re Missing in the AI Arms Race
Q: How do you think about market concentration?
Helfert believes the high concentration in technology is the economy we are in, and he suggests while currently not a risk, increased diversity in sectors is necessary for market stability.
The Existential Spending Battle | Adrian Helfert on What You’re Missing in the AI Arms Race
Q: Do you think anything has structurally changed in the market or the economy that would support higher than average returns over time?
Helfert expresses hesitation about projecting continued high returns without acknowledging past market cycles, stressing caution over near-term growth expectations amid overall technological advancements.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Gender Skew
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Frequently Asked Questions About Excess Returns

What is Excess Returns about and what kind of topics does it cover?

Content focuses primarily on the intricacies of investing, especially long-term investment strategies, market dynamics, and economic indicators. Topics such as macroeconomics, value investing, and alternative investment strategies like managed futures are often discussed, providing listeners with insights from both the hosts and their expert guests. The aim is to make complex financial concepts accessible, catering to both novice and experienced investors who seek to enhance their understanding of finance and improve their investment decisions. The presence of esteemed guests adds considerable depth to discussions, making it a valuable resource for those interested in finance.

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How many listeners does Excess Returns get?

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What are the audience demographics for Excess Returns?

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How many subscribers and views does Excess Returns have?

To see how many followers or subscribers Excess Returns has on Spotify and other platforms such as Castbox and Podcast Addict, simply upgrade your account. You'll also find viewership figures for their YouTube channel if they have one.

Which podcasts are similar to Excess Returns?

These podcasts share a similar audience with Excess Returns:

1. The Meb Faber Show - Better Investing
2. Top Traders Unplugged
3. Monetary Matters with Jack Farley
4. The Acquirers Podcast
5. Forward Guidance

How many episodes of Excess Returns are there?

Excess Returns launched 6 years ago and published 433 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact Excess Returns?

Our systems regularly scour the web to find email addresses and social media links for this podcast. We scanned the web and collated all of the contact information that we could find in our podcast database. But in the unlikely event that you can't find what you're looking for, our concierge service lets you request our research team to source better contacts for you.

Where can I see ratings and reviews for Excess Returns?

Rephonic pulls ratings and reviews for Excess Returns from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

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What guests have appeared on Excess Returns?

Recent guests on Excess Returns include:

1. David Wright
2. Andrew Beer
3. James Grant
4. Mary Ann Bartels
5. Al Green
6. Carl Kaufman
7. Dave Nottig
8. Bill Bengen

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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