Excess Returns
By Excess Returns
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.
Recent Episodes
The Widest Valuation Gap in History | Rob Arnott on What Investors Are Missing About AI
● Released 17 hours ago
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5 March 2026
100% Out of US Stocks | Andy Constan on AI, War Risk and the Shift Abroad
● Released 3 days ago
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3 March 2026
Is AI Replacing Workers Faster Than We Think? | We Break Down the Viral AI Doom Loop Article
● Released 5 days ago
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1 March 2026
The AI Panic Trade | What the Viral Doomsday AI Article Means for Markets
● Released 6 days ago
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28 February 2026
Most Portfolios Are Built Backwards | Cullen Roche on Building Your Perfect Portfolio
● Released 7 days ago
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27 February 2026
The Edge Has Shifted | Matt Reustle on How the Best Investors Use AI
● Released 1 week ago
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25 February 2026
When You've Won the Game, Stop Playing | What Great Investors Taught Us About Portfolio and Purpose
● Released 1 week ago
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23 February 2026
When Safe Becomes the Most Dangerous | The 100-Year Thinkers on AI, Staples and How Words Mislead
● Released 2 weeks ago
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21 February 2026
The Global Regime Change | Jason Hsu on AI, Factor Investing and What Investors Miss About China
● Released 2 weeks ago
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19 February 2026
When the Data Stops Working | Cameron Dawson and Dave Nadig on What Aggregate Economic Numbers Hide
● Released 2 weeks ago
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17 February 2026
This Only Happens in Markets Down 30% | Brent Kochuba on the Rotation Indexes Hide
● Released 3 weeks ago
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15 February 2026
Investing in a Fourth Turning | Neil Howe and Ben Hunt on Inflation, Trust and What Comes Next
● Released 3 weeks ago
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13 February 2026
You Can't Eat Risk-Adjusted Returns | AQR's Pete Hecht on Portable Alpha's Capital Efficient Edge
● Released 3 weeks ago
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12 February 2026
46% of the S&P 500 is One AI Bet | Kai Wu on Why It’s Likely the Wrong One
● Released 3 weeks ago
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10 February 2026
It’s Only a Question of When | Nir Kaissar on AI, Private Credit and the Regime Shift Investors Miss
● Released 4 weeks ago
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9 February 2026
$70 Billion. 18 Straight Outperforming Years | David Giroux on the Index Trap and AI Hype
● Released 4 weeks ago
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7 February 2026
Lowest Cash Levels Ever | Kevin Muir on Markets at Extremes
● Released 4 weeks ago
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4 February 2026
The Market That Bites Back | Victoria Greene on Surviving the Badger Market
● Released 1 month ago
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2 February 2026
Last Call: January 2026 | AI Capex, Private Credit Problems and the Unstable Market
● Released 1 month ago
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31 January 2026
The Bubble You Can’t Exit | Dan Rasmussen on the Private Equity Trap
● Released 1 month ago
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29 January 2026
30 Times Earnings Isn't Expensive | Chris Mayer & Robert Hagstrom on the Labels That Destroy Returns
● Released 1 month ago
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28 January 2026
60-20-20 Changed Everything | Tony Greer on the New Portfolio Regime
● Released 1 month ago
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27 January 2026
You’re Waiting for the Bubble to Burst | Jan van Eck on Why It Already Has
● Released 1 month ago
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25 January 2026
The Crash That Won’t Come | Redfin Chief Economist Daryl Fairweather on the Great Housing Reset
● Released 1 month ago
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24 January 2026
The Chart of Truth Is Turning | Rupert Mitchell on the Regime Change Investors Are Missing
● Released 1 month ago
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22 January 2026
10 Cents on the Dollar | Gary Mishuris on Mispriced Fear and Lessons from Warner Brothers
● Released 1 month ago
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21 January 2026
The Line We Can't Cross | Mike Green on the Passive Investing Endgame
● Released 1 month ago
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20 January 2026
Disbelief Is the Real Risk: Gene Munster and Doug Clinton on Why the AI Bubble is Just Getting Started
● Released 2 months ago
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18 January 2026
The Bubble Most Will Get Wrong | Aswath Damodaran on How He is Managing His Own Money in a World of AI
● Released 2 months ago
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16 January 2026
The Great Moderation Is Over | Liz Ann Sonders on What Replaces It
● Released 2 months ago
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14 January 2026