Excess Returns

Excess Returns

Excess Returns

EN 100 episodes Updated August 31, 2026

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.

100
Episodes
1h 2m
Avg length
Weekly
Frequency

Episodes

Sticky Inflation. Cheap Volatility. A Less Predictable Fed. Why Aren’t Markets More Worried?

Sticky Inflation. Cheap Volatility. A Less Predictable Fed. Why Aren’t Markets More Worried?

This month on Last Call, Kevin Muir, Aahan Menon, Ben Hunt and Brent Kochuba break down the market through four lenses: ...

August 31, 2026 1h 2m
The Profits Come Now. The Costs Come Later. Kevin Muir on Whether AI Earnings Are the Bubble

The Profits Come Now. The Costs Come Later. Kevin Muir on Whether AI Earnings Are the Bubble

Kevin Muir of The MacroTourist joins Matt Zeigler to break down the bond market, Scott Bessent's Treasury buybacks, the ...

August 29, 2026 1h 4m
Private Equity Chased Software. Big Tech Is Chasing AI. Dan Rasmussen on If They Are Making the Same Mistake Twice

Private Equity Chased Software. Big Tech Is Chasing AI. Dan Rasmussen on If They Are Making the Same Mistake Twice

Dan Rasmussen, founder and managing partner of Verdad Advisers and author of The Humble Investor, joins Kai Wu to examin...

August 28, 2026 57 min
Only 2.7% Beat the S&P for 20 Years | Ian Cassel on What Elite Stock Pickers Do Differently

Only 2.7% Beat the S&P for 20 Years | Ian Cassel on What Elite Stock Pickers Do Differently

Ian Cassel, founder of MicroCapClub and author of Stock Picker, joins Matt Zeigler to break down the mindset, temperamen...

August 25, 2026 1h 0m
The Rally is Broadening. The Earnings Growth Isn't. Liz Ann Sonders on Which Breaks First

The Rally is Broadening. The Earnings Growth Isn't. Liz Ann Sonders on Which Breaks First

Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, joins us to explain why today's economy and stock market...

August 22, 2026 1h 1m
We Asked Andy Constan What Happens If AI Funding Breaks Before the Thesis — And if Warsh Blinks

We Asked Andy Constan What Happens If AI Funding Breaks Before the Thesis — And if Warsh Blinks

Andy Constan is back on First Principles to explain why record stock prices, rising long-term Treasury yields and sticky...

August 20, 2026 1h 0m
We Asked Value Legend Bob Robotti Why the Real AI Trade Isn't AI — And Why Passive Helps Stock Pickers

We Asked Value Legend Bob Robotti Why the Real AI Trade Isn't AI — And Why Passive Helps Stock Pickers

Bob Robotti, founder and CIO of Robotti & Company, joins Matt Zeigler and Bogumil Baranowski to explain why bottom-up va...

August 18, 2026 1h 7m
Jim Paulsen Sees a Growth Scare Coming | The 34 Charts That Make Him Cautious

Jim Paulsen Sees a Growth Scare Coming | The 34 Charts That Make Him Cautious

In this episode of The Jim Paulsen Show, Jim explains why weakening labor data, softening inflation, and lagged policy t...

August 14, 2026 1h 0m
We Asked T. Rowe's $8 Billion Tech Manager Why We Are in 1998 — And Why Software Is in Trouble

We Asked T. Rowe's $8 Billion Tech Manager Why We Are in 1998 — And Why Software Is in Trouble

T. Rowe Price technology portfolio manager Dom Rizzo joins Jack Forehand and Kai Wu to break down the AI investment cycl...

August 11, 2026 1h 0m
David Rosenberg and Rich Bernstein on What Ends the AI Trade — And What They Own Instead

David Rosenberg and Rich Bernstein on What Ends the AI Trade — And What They Own Instead

Richard Bernstein and David Rosenberg reunite to debate the Federal Reserve, inflation, the AI investment boom, market b...

August 8, 2026 1h 3m

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