Pierre Daillie and Mike Philbrick welcome Tony Dong—Lead ETF Analyst at ETF Central and founder of ETF Portfolio Blueprint— to the show to explore why investors may need to rethink their reliance on traditional portfolio diversifiers like long-term bonds. Dong pulls no punches, calling out the pitfalls of covered call ETFs, explaining how to think critically about buy-write strategies, and championing capital-efficient alternatives like return stacking, trend-following CTAs, and risk-managed overlays. The trio also dig into the strategic case for overlooked assets like Swiss equities and the Swiss franc, while sharing practical insights into investor behavior, rebalancing discipline, and building resilient portfolios in a stagflation-prone world.n n? Key Takeaways:

• Why blindly chasing high-yield covered call ETFs is a mistake
• The underrated power of trend-following as a crisis alpha tool
• How to use return stacking for smarter diversification
• Why Switzerland may be the ultimate geopolitical safe haven
• The behavioral traps investors fall into—and how to avoid them

? Chapters:

nn00:00 – Tony Dong’s Risk-First Origin Storynn03:45 – The Problem with Index-Based Covered Call ETFsnn08:30 – Gold, Volatility, and Opportunistic Buy-Write Strategiesnn13:10 – QYLD: A Yield Trap in Disguise?nn19:45 – When Bonds Fail: Gold and Trend as Alternativesnn23:20 – Leveraging Diversification with Return Stackingnn28:00 – Retail’s Dangerous Love Affair with Leveraged ETFsnn31:40 – The Rise of Structured Protection: Put Spread Collarsnn36:20 – Why Low Vol and Min Vol May Be Broken Conceptsnn39:10 – Trend Following: The Case for Buying the Shop, Not the ETFnn43:00 – Behavioral Risk and Staying the Course with Alternativesnn47:30 – How to Rebalance for Real-World Portfoliosnn53:00 – Investor Psychology, Crisis Alpha, and Staying Investednn57:00 – The Case for Switzerland: Stability, Strength, and Sanityn

Where to find Tony Dong

nETF Portfolio Blueprint – https://etfportfolioblueprint.comnnTony Dong, Lead ETF Analyst, ETF Central – https://www.etfcentral.com/author/tony-dongnn

#InvestingStrategy #ETFs #TrendFollowing #ReturnStacking #PortfolioDiversification #CoveredCalls #QYLD #Alternatives #CapitalEfficient #Gold #BehavioralFinance #TonyDong #RaiseYourAverage

Canadian ETFs are booming—and behind the scenes, a quiet revolution is reshaping how advisors and investors build smarter, more efficient portfolios. In this episode, ETF industry leader Ronald Landry, Vice President, Head of Segment Solutions and Canadian ETF Services at CIBC Mellon joins us to explore what’s driving record ETF flows, the rise of covered calls and liquid alts, the accelerating evolution of Canada’s ETF landscape, and the policy shifts that could transform the advisory business in 2025 and beyond.nnnnLandry shares over 30 years of industry insight, covering everything from:n

• The two-year boom in covered call ETFs—and why yield remains king
• How alternative strategies are finally gaining traction after years of slow adoption
• New ETF-wrapped solutions making it easier than ever for advisors to close portfolio gaps
• The regulatory innovations (like total cost reporting and ticker rule proposals) that could reshape the advisor-client conversation
• Why Canada continues to lead global ETF innovation—and what the US is learning from our market

Chapters

n00:00 – The ETF Boom: Why 2025 Is Already One for the Record Booksnn02:00 – 30 Years of Insight: Ron Landry’s Unlikely Path to ETF Leadershipnn04:00 – Markets in Transition: What Record Q1 Flows Are Really Telling Usnn08:00 – Central Banks in a Bind: Rates, Tariffs, and the Inflation Puzzlenn09:30 – Single Stock ETFs, CDRs, and the Quest for Yield in Canadann12:00 – Built for Canadians: Why Homegrown ETFs Are Winningnn14:00 – Crypto, Covered Calls, and the Real Drivers of Demandnn16:00 – Alternatives Accelerating: The 53% Growth Story You Missednn19:00 – Advisors’ Dilemma: Explaining Line Item Risk in a 60/40 Worldnn21:00 – Regulation as Catalyst: CSA Reviews, Cost Transparency, and Ticker Labelsnn24:00 – From 6% to 20%: Canada’s ETF Market Is on a Tearnn26:00 – The Rise of Dual-Structure Funds: ETF and Mutual Fund Hybridsnn27:00 – Canada: The Quiet Giant of ETF Innovationnn29:00 – One Rulebook to Rule Them All: The Secret to Canada’s ETF Advantagennnn #ETFs #CanadianETFs #InvestingCanada #FinancialAdvisors #CoveredCalls #LiquidAlts #ETFInnovation #CIBCMellon #RonLandry #WealthManagement #PortfolioConstruction #FinancePodcast #InvestmentStrategies #YieldHunting

The most important tech story of the decade isn’t in Silicon Valley—it’s unfolding in Mumbai, Delhi, and Bangalore. In Part 2 of our in-depth conversation, Kevin Carter, founder of EMQQ Global, reveals why India’s digital transformation, powered by the India Stack, is not only revolutionary—it’s investable.nnnWe dive deep into the megatrends fueling India’s internet economy, explore explosive business models like 10-minute delivery, and uncover why investors are missing one of the greatest untold tech stories of our time. As Kevin puts it: “There’s no developed or emerging country with anything like this… and the world has no idea it exists.”nnn? CHAPTERSnn00:00 – India’s human capital and the reverse brain drainnn02:00 – Startup boom: From 500 to 120,000 startupsnn05:00 – Modi’s economic machete and $1T infrastructure plannn08:00 – The three megatrends redefining emerging marketsnn10:00 – The India Stack explained: Aadhaar, UPI, and digital identitynn14:00 – Opening 800M bank accounts in 10 yearsnn18:00 – Geo and the $12 smartphone revolutionnn20:00 – UPI: 16B instant transactions a monthnn22:00 – The death of cash: 95% to 20% in 7 yearsnn24:00 – The trillion-dollar secret the world doesn’t knownn27:00 – Quick Commerce: Blinkit, dark stores, and 10-minute deliverynn34:00 – Zomato’s ecosystem and disruption beyond foodnn39:00 – India’s small cap exuberance and retail options boomnn43:00 – Companies to watch: MakeMyTrip, FirstCry, InfoEdgenn46:00 – Kevin’s final thoughts: Throw out the old EM modeln

Where to find Kevin Carter, EMQQ Global

Kevin Carter on Linkedin – https://www.linkedin.com/in/thekevintcarter/nnEMQQ Global – https://emqqglobaletfs.com/n

#IndiaStack #EmergingMarkets #Fintech #DigitalIndia #UPI #Aadhaar #QuickCommerce #Blinkit #Zomato #EMQQ #KevinCarter #ModiEconomics #InvestInIndia #IndianStartups #DigitalTransformation #TechInvesting

? You’ve heard of index funds… but what if the real revolution in investing started with fractional shares, a phone call to Dr. Burton Malkiel, and a vision for emerging markets that no one saw coming?nnIn Part 1 of this fireside chat on Insight is Capital host Pierre Daillie sits down with Kevin Carter, Founder and CIO of EMQQ Global, for a wide-ranging conversation that spans Carter’s unplanned journey into finance, his pivotal role in the birth of fractional investing, AND direct indexing, and the origin story of EMQQ, the Emerging Markets Internet Index ETF.nnCarter recounts his early days reading A Random Walk Down Wall Street, cold-calling its author Dr. Burton Malkiel, and launching not one—but multiple investing platforms that have shaped how millions invest today. From building the “Build Your Own Fund” platform sold to ETRADE, to coining “Tax Alpha”, to launching ETFs that target the real growth in emerging markets (hint: it’s not state-owned enterprises), this episode is a deep dive into innovation, conviction, and seeing around corners.nnn? Chapters & Timestamps:nnn00:00 – Intro: Meet Kevin Carter, founder of EMQQ Globalnn01:30 – How a basketball chat led to a job on Wall Streetnn03:10 – Reading A Random Walk Down Wall Street—and calling its authornn06:45 – Realizing the mutual fund industry is a 1.5% “wealth tax”nn10:15 – Africa, a notebook, and the spark for fractional investingnn13:00 – Creating eInvesting and pioneering Build Your Own Fundnn16:20 – Cold-calling Dr. Burton Malkiel at Princetonnn18:30 – Selling to ETRADE and the rise of direct indexingnn22:00 – Custom indexing, ESG before ESG, and inventing “Tax Alpha”nn28:00 – Avoiding over-diversification: Buffett vs. Boglenn33:00 – The Google connection and the call to invest in Chinann37:00 – The red flags inside traditional China ETFsnn44:00 – Launching EMQQ to target the real consumer tech growthnn49:00 – Smartphones, internet, and the leapfrog effectnn55:00 – Why EMQQ and INQQ launched at the worst possible timenn58:00 – The delisting drama, China tech crackdown, and investor fearnn01:03:00 – EM growth vs. value traps—and why India is nextnnnThis conversation continues in Part Two, where we dive into the “India Stack” and what it means for India’s economic growth and tech/internet sector.n

Where to find Kevin Carter, EMQQ Global

Kevin Carter on Linkedin – https://www.linkedin.com/in/thekevintcarter/nnEMQQ Global – https://emqqglobaletfs.com/n

#EMQQ #Investing#EmergingMarkets#ETFs#FractionalShares#Indexing#KevinCarter#ChinaTech#IndiaGrowth#SmartphoneRevolution#BurtonMalkiel#TaxAlpha#DirectIndexing#Vanguard#Buffett#FutureOfFinance#FinancialInnovation

Can one word from a U.S. president really move markets by 8% in two hours? Bloomberg’s Eric Balchunas calls it the “Trump Put”—and that’s just for starters.

Episode Summary:

nIn this episode, Raise Your Average hosts Pierre and Mike welcome back Bloomberg Senior ETF Analyst Eric Balchunas, and co-host of Trillions, for a dynamic conversation that peels back the curtain on ETF flows, investor psychology, and the growing crossover between crypto and traditional finance. Balchunas unpacks the hidden narratives driving today’s markets—from the surge in passive flows and rebalancing tailwinds, to the rise of “Vanguardians” and the Degens chasing leveraged plays. He also explores how mutual fund share classes, private credit, and public-private crossovers are changing the ETF landscape. With his signature humor and razor-sharp insight, Balchunas offers a front-row seat to the evolution of asset management.

Key Takeaways:

Timestamps:

00:00 – Intro and Eric Balchunas joins the shownn03:00 – $333B ETF inflows and the “Vanguard clip”nn05:45 – The divergence between retail flows and institutional positioningnn07:00 – The “Trump Put” and the 8% rally on one wordnn08:30 – Degens, leveraged ETFs, and why people keep buying the dipnn10:00 – Persistent love for U.S. stocks despite better international valuenn12:00 – Gold vs. Bitcoin: who’s winning in 2025?nn14:00 – Bitcoin’s improving volatility profile and “better owners”nn16:00 – Why Bitcoin ETFs are changing the gamenn18:30 – Cognitive dissonance: crypto purists vs. TradFi adoptionnn21:00 – Passive power, BlackRock conspiracies, and Bogle’s last standnn27:30 – ETF transparency vs. mutual fund mythologynn30:00 – Mutual fund ETF share classes: game changer or Trojan horse?nn34:00 – Private credit and public-private crossover ETFsnn38:30 – Why XOVR’s SpaceX bet caught firenn40:00 – The veil lifts on private equity NAV “magic”nn43:00 – Active ETFs: rebirth, reinvention, or just beta repackaged?nn50:00 – The final frontier: alts, liquidity, and the ETF trust factorn

#RaiseYourAverage #EricBalchunas #Bloomberg #ETFs #BitcoinETF #Vanguard #PrivateCredit #MutualFunds #TrumpPut #CryptoMarkets #GoldVsBitcoin #ETFFlows #InvestmentStrategy #MarketInsightsnnnnCopyright © AdvisorAnalyst.com

What happens when political ambition trumps economic reality? Doomberg lays it bare.nnIn this episode, Doomberg returns to unpack the dangerous disconnect between Washington’s four-year campaign cycle and the multi-decade timelines required for industrial and energy investments. From Trump’s tariff threats to the fragility of global auto supply chains, we explore why the U.S. economy may be hurtling toward a recession of its own making. Doomberg dives deep into America’s squandered energy advantage, China’s calculated rise, and how short-term politics is colliding with long-term capital planning. If you care about markets, manufacturing, or the future of Western economic resilience — you don’t want to miss this one.nnChapters:nn00:00 – Introduction: Supply Chains, Tariffs, and Recession Risknn04:00 – Trump’s Strategy: Diagnosis vs. Executionnn08:00 – Six Reasons Auto Tariffs Will Backfirenn13:30 – EVs, China, and the Renewable Illusionnn17:00 – Energy Politics: North America, Europe, and Asia Comparednn22:00 – Reserves, Regulation, and the Bankability Crisisnn27:30 – Capital Cycle vs. Political Cycle: The Core Mismatchnn32:00 – Resource Riches and the Western Hemisphere Opportunitynn39:00 – Natural Gas: Oversupplied, Undervalued, Unstoppablenn44:30 – Energy Market Behavior: Spikes, Gluts, and Investor Strategynn49:00 – Why Projects Get Built Under Republicans, Profits Under Democratsnn53:00 – Tariffs or Chaos? The Trump–Carney–Canada Connectionnn58:00 – Europe’s Military Fantasy Meets Energy Realitynn1:03:00 – War Fatigue, NATO, and the Illusion of Global Reachnn1:09:00 – Final Thoughts: Diplomacy, Decline, and the Danger of Delusionn

n#RecessionWatch, #EVRevolution, #TradeWar, #EnergyPolicy, #BYDvsTesla, #SupplyChainDisruption, #MadeInAmerica, #IndustrialPolicy, #GeopoliticalRisk, #CapitalMarkets

Summary

nIn this timely episode of Insight is Capital, Pierre sits down with Ilan Kolet, Institutional Portfolio Manager at Fidelity Investments, to unpack Fidelity’s latest macro outlook and strategic asset allocation decisions—just as the world braces for another wave of geopolitical and trade disruption.n

Drawing from Fidelity’s latest research piece titled “Elbows Up”, Kolet shares why his team is dialing back US equity exposure and tactically reallocating toward Europe. The conversation delves into the erosion of US institutional strength, rising stagflation risk, and the immense threat posed by potential tariffs on Canadian exports. Investors and advisors alike will find invaluable insights into positioning portfolios for resilience in a world increasingly defined by fragmentation and volatility.

Kolet’s clarity and candor shine through as he outlines how Fidelity is protecting investors from mounting uncertainty—without overreacting to short-term noise.n

3 Key Takeaways:

Chapters

nn00:00 – Intro: Why One Fire Tanked Industrial Productionnn01:05 – Today’s Geopolitical Crossroadsnn02:44 – From US Exceptionalism to Strategic Repositioningnn06:15 – Signs of Stagflation & Why Fidelity Bought Goldnn09:04 – The Undermining of Institutional Strength in the USnn12:41 – Valuations vs. Catalysts: Europe’s Turn to Shinenn18:25 – Caution on Canada: Debt, Rates, and Tariff Falloutnn22:29 – How Tariffs Could Hammer the Canadian Economynn30:03 – Who Really Pays for Tariffs? A Case Study in Washing Machinesnn36:57 – Manufacturing, Inflation, and Hollowed-Out Labornn39:37 – Supply Chain Disruptions & Auto Sector Insightsnn44:40 – Tactical Shifts: Gold, TIPS, and Currency Hedgingnn48:32 – Wrapping Up: Managing Through Uncertaintynnn

#FidelityInvestments #GlobalAssetAllocation #IlanKolet #MarketOutlook2025 #InvestingInStagflation #USExceptionalism #GoldAsAhedge #TIPSInvesting #TradeTariffs #CanadianEconomy #AdvisorPodcast #FinancialMarkets #InvestmentStrategy #RecessionRisk

Is it possible to enhance diversification without sacrificing returns?nnIn this episode of Raise Your Average, Pierre Daillie sits down with Rodrigo Gordillo of ReSolve Asset Management and Corey Hoffstein of Newfound Research to discuss the game-changing concept of return stacking and the launch of the Return Stacked Global Balanced & Macro ETF (RGBM)—now listed on the Toronto Stock Exchange.nnDiscover how this capital-efficient and tax-efficient strategy allows investors and advisors to stack returns from systematic macro strategies on top of a traditional 60/40 portfolio—all without selling core assets.nnPacked with institutional insights, behavioral solutions, and a dose of ETF innovation, this conversation reveals how ReturnStacked® ETFs is democratizing strategies once exclusive to pension funds and hedge funds.nn⏱️ Chapters (Timestamps)nn0:00 – Intro: Why diversification doesn’t need to mean sacrificenn2:52 – Genesis of Return Stacking: Portable alpha rebornnn6:45 – Institutional proof: The Delta Pension Plan case studynn11:50 – Solving line item risk & behavioral dragnn14:35 – “A spoonful of sugar helps the diversification go down.”nn17:30 – Kitchen vs. Solarium: Pierre’s investing metaphornn20:00 – Defensive leverage vs. LICE (Leverage that’s Illiquid, Concentrated, Excessive)nn22:30 – Inside RGBM: Structure & allocation explainednn26:00 – Three implementation strategies for RGBMnn32:00 – Why use RGBM as a return enhancernn36:00 – “Why are we playing the game on hard mode?”nn41:30 – Systematic macro: strategy, structure, and why nownn47:50 – The power of long-term structural un-correlationnn52:00 – Return stacking vs. alpha chasing in equity marketsnn58:00 – Triple Alpha: Strategy Alpha, Structural Alpha, Tax Alphann1:00:00 – Closing thoughts & how to learn morennn? Resources & Linksnnn? Learn more about RGBM ETFn? Explore the Systematic Macro Research libraryn? Read more from ReSolve Asset Managementn? Newfound Research insights

Copyright © AdvisorAnalyst

#ReturnStacking #RGBM #ETFInvesting #CapitalEfficiency #SystematicMacro #AlternativeInvestments #PortfolioDiversification #FinancialAdvisors #BehavioralFinance #InvestingStrategies #RaiseYourAverage