SKEPTIC’S GUIDE TO INVESTING

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SKEPTIC’S GUIDE TO INVESTING

Steve Davenport, Clement Miller

113 episodes

6 hours ago

Please text and tell us what you like A courtroom showdown over tariffs just forced the biggest question in trade policy: who gets to tax Americans in the name of national interest? We sat down to parse a marathon Supreme Court argument and why the Justices sounded skeptical of using emergency powers as a back door for sweeping tariffs. From first principles to practical fallout, we translate the legal jargon into plain English and outline what it could mean for markets, supply chains, and th...

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Self-Improvement

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Please text and tell us what you like A courtroom showdown over tariffs just forced the biggest question in trade policy: who gets to tax Americans in the name of national interest? We sat down to parse a marathon Supreme Court argument and why the Justices sounded skeptical of using emergency powers as a back door for sweeping tariffs. From first principles to practical fallout, we translate the legal jargon into plain English and outline what it could mean for markets, supply chains, and th...

Show more...

Self-Improvement

Episodes (20/113)

SKEPTIC’S GUIDE TO INVESTING

Hitting Five Trillion Is Hard; Staying There Is Harder

Please text and tell us what you like Five trillion is a headline; the harder story is what comes next. We dig into NVIDIA’s historic market cap, the AI hardware and software flywheel behind it, and the reality that scale turns leaders into targets. From Blackwell-class GPUs to ecosystem partnerships like Palantir, we map how compute, tooling, and customers reinforce each other—and where fragility hides when growth expectations run ahead of execution. We get candid about market structure. Li...

6 days ago

23 minutes

SKEPTIC’S GUIDE TO INVESTING

Fed Cuts, Markets React, Doubts Rise

Please text and tell us what you like A surprise rate cut without fresh data sounds bold on the surface, but the real story lives in the yield curve the Fed doesn’t control. We unpack why trimming the short end won’t guarantee cheaper mortgages or easier financing, how long-term yields respond to inflation expectations and Treasury supply, and where tariff rulings at the Supreme Court could tilt the outlook. Rather than chasing a tidy headline—“rates down, stocks up”—we map the messy mechanic...

6 days ago

28 minutes

SKEPTIC’S GUIDE TO INVESTING

China Has Magnets, Your Portfolio Has Anxiety

Please text and tell us what you like If the world’s most powerful magnets can move turbines and EVs, what might happen when their supply chain starts to seize up? We take you inside the rare earths story—why these elements are abundant in the ground yet scarce in your portfolio—and connect the dots to AI infrastructure, defense systems, and the global energy transition. We break down China’s processing dominance and the environmental trade-offs that shaped it, then look at how non-Chinese s...

1 week ago

31 minutes

SKEPTIC’S GUIDE TO INVESTING

Gold’s Surge, Fear, And Strategy

Please text and tell us what you like We unpack gold’s surge, why central banks—especially China—are buying, and how to balance conviction with risk. We share how we trimmed, built a cash buffer, and considered collars to cut downside while staying in the trade. • Central bank demand as a structural tailwind • China’s reserve ambitions and gold accumulation • Dollar and U.S. policy risk shaping safe‑haven flows • Rate cuts, inflation hedges, and market plateau • Trimming exposure after parab...

2 weeks ago

23 minutes

SKEPTIC’S GUIDE TO INVESTING

Government Equity Stakes: Crossing a Line?

Please text and tell us what you like The U.S. government's unprecedented move to take a 10% ownership stake in Intel raises serious questions about the appropriate boundaries between government and private enterprise in American capitalism. • Government equity ownership in Intel marks a significant shift in U.S. industrial policy • Argument for equity stakes: if taxpayers provide subsidies, they should share in potential upside • Critical questions about who manages these positions and how ...

4 weeks ago

40 minutes

SKEPTIC’S GUIDE TO INVESTING

OCIO: Aradhana Kejriwal on Markets

Please text and tell us what you like Aradna Kejrawal shares insights on her work as an Outsourced Chief Investment Officer (OCIO) and discusses how women are reshaping the investment landscape with their growing control of wealth and unique perspectives on risk. • OCIOs function as dedicated investment departments for advisory firms, providing sophisticated research and investment management while allowing advisors to focus on client relationships • AI serves as a companion in finance, maki...

1 month ago

41 minutes

SKEPTIC’S GUIDE TO INVESTING

Private Markets in Retirement Accounts: A Skeptical Analysis

Please text and tell us what you like We delve into the controversial topic of allowing private equity, real estate, debt, and even cryptocurrency into 401k retirement accounts, offering a skeptical analysis of this potential shift in retirement planning. • Government is willing to allow private markets and crypto in 401ks, though these options aren't widely available yet • Private markets involve less transparency and liquidity than traditional investments • Historically, private investment...

1 month ago

14 minutes

SKEPTIC’S GUIDE TO INVESTING

Rethinking Retirement: The Closed-End Fund Strategy

Please text and tell us what you like Retirement investing has lost its way. While Wall Street fixates on asset growth and total return, millions of retirees struggle with a fundamental question: how do I generate reliable income without depleting my savings? Steve Selengut, veteran investor and former RIA owner who managed $100 million in assets, challenges the industry's growth-obsessed paradigm with a refreshingly old-school approach. His investment philosophy centers on four principles l...

1 month ago

58 minutes

SKEPTIC’S GUIDE TO INVESTING

The Frothy Fourth: What's Ahead for Markets

Please text and tell us what you like The financial markets are running hot as we head into Q4 2025, but are we witnessing sustainable growth or dangerous froth? In this thought-provoking episode, Clem Miller and Steve Davenport tackle the pressing question on many investors' minds: what's ahead for the markets? Steve kicks things off with a bold prediction - the market appears to be discounting an overly optimistic future, particularly in AI-related stocks. When companies merely mentioning ...

1 month ago

37 minutes

SKEPTIC’S GUIDE TO INVESTING

Alternatives, Women, and Wealth: Megan Smith

Please text and tell us what you like Women are consistently outperforming men in investment returns—by about four basis points—yet they're starting later and investing less. This fascinating paradox lies at the heart of our conversation with financial services veteran Megan Smith, who brings decades of experience in alternative investments and client advising to the table. "Investing is more about patience and consistency than it is about number crunching," Smith reveals, challenging the no...

2 months ago

42 minutes

SKEPTIC’S GUIDE TO INVESTING

Building Financial Futures with Gene Natali, CFA

Please text and tell us what you like Gene Natali, CFA, joins us to discuss his mission to solve America's financial literacy crisis through his innovative platform Troutwood and his bestselling book "The Missing Semester." We explore how technology can scale financial education and planning to reach millions of Americans who lack basic financial knowledge despite good jobs and education. • Gene's journey from institutional asset management to becoming a financial literacy champion • The ins...

2 months ago

32 minutes

SKEPTIC’S GUIDE TO INVESTING

Money Masters: Integrity in Wealth Management

Please text and tell us what you like Joe Sroka of NovaPoint Capital shares his journey from West Point graduate and military officer to financial advisor, explaining how military discipline informs his investment approach for clients. • From buying savings bonds during military service to becoming a financial advisor at Merrill Lynch • West Point education provided strong math and analytical skills that transferred well to finance • NovaPoint specializes in dividend growth investing rather ...

2 months ago

41 minutes

SKEPTIC’S GUIDE TO INVESTING

Money Talks: Women and Wealth

Please text and tell us what you like What if your investment dollars could create positive change while still generating competitive returns? In this eye-opening conversation, financial expert Mimi Locke joins hosts Steve Davenport and Glenn Miller to explore the world of values-aligned investing and women's financial empowerment. Mimi shares her journey from being the lone woman in a room of 60 stockbrokers to co-leading courses for Invest for Better, a nonprofit helping women align their ...

2 months ago

43 minutes

SKEPTIC’S GUIDE TO INVESTING

Unveiling Private Real Estate Credit, with guest Joe Ryu from Prospect Capital

Please text and tell us what you like Joe Ryu, manager of Prospect Capital's private real estate credit fund, shares his journey from investment banking through the Great Financial Crisis to his current role in real estate credit investing. He explains how private credit offers attractive risk-adjusted returns through specialized financing structures that combine agency lending with subordinated positions. • Real estate private credit involves loans on commercial properties that don't freely...

3 months ago

1 hour 6 minutes

SKEPTIC’S GUIDE TO INVESTING

Labor Statistics in Political Crosshairs

Please text and tell us what you like When politics collides with economic data, investors face a troubling dilemma: can we trust the numbers that drive markets? The unprecedented firing of the Bureau of Labor Statistics head by President Trump signals a concerning shift in how government economic data might be manipulated for political gain. The BLS produces critical labor and inflation statistics that power Federal Reserve decisions and investment strategies worldwide. Now, this foundation...

3 months ago

23 minutes

SKEPTIC’S GUIDE TO INVESTING

Stable Coin GENIUS Act: Greater Crypto Investibility?

Please text and tell us what you like Stablecoins represent a fascinating middle ground in the crypto universe - digital tokens backed by real dollars, designed to provide stability in the notoriously volatile cryptocurrency landscape. Steve Davenport and Clem Miller take you on a deep dive into this evolving ecosystem, examining the regulatory framework established by the recently passed Genius Act and what it means for companies like Circle that have gone public. The conversation reveals t...

3 months ago

26 minutes

SKEPTIC’S GUIDE TO INVESTING

The Institutional Perspective: Adam Parker on AI, Equity Investments, and Market Trends

Please text and tell us what you like What does the market look like through the eyes of a seasoned Wall Street veteran? Adam Parker, founder of Trivariate Research and CNBC contributor, joins us to share his institutional perspective on today's investment landscape. The conversation begins with Adam's surprising take on political developments – while headlines focus on tariffs and tax policy, institutional investors are looking elsewhere. He shares what's really dominating client conversati...

3 months ago

50 minutes

SKEPTIC’S GUIDE TO INVESTING

Politics Over Prudence: Understanding the True Cost of the BBB

Please text and tell us what you like The political theatrics behind Trump's "Big Beautiful Bill" mask a troubling economic reality that could reshape America's fiscal landscape for years to come. This massive 900-page legislation, passed by the narrowest of margins, reveals how calculated political maneuvering drives fiscal policy more than sound economic principles. Diving deep into the mechanics of the bill, we uncover how the administration strategically front-loaded tax benefits while p...

3 months ago

32 minutes

SKEPTIC’S GUIDE TO INVESTING

Tariffs Decoded: From Economic Theory to Today's Reality

Please text and tell us what you like Tariffs have moved from economic policy to political weapons, and smart investors need to understand the real impacts on markets and portfolios. In this eye-opening exploration of the tariff landscape, we break down the fundamentals of international trade policy and how it affects your investments. From the recent 50% tariff on Brazil (imposed for political reasons) to the unrealistic expectation of "90 deals in 90 days," we cut through the rhetoric to r...

3 months ago

35 minutes

SKEPTIC’S GUIDE TO INVESTING

Markets, Politics, and Debt: Insights with Rich Weiss

Please text and tell us what you like Rich Weiss, CIO of Multi-Asset Strategies at American Century, brings 40 years of investment experience to discuss market reactions to global turmoil and why the VIX index remains surprisingly calm despite international tensions. • Markets appear to be undervaluing risk despite geopolitical conflicts and economic uncertainties • Economic consensus forecasts predict 1.5% growth this year, avoiding recession but not stellar • Manufacturing and housing sect...

4 months ago

52 minutes