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Excess Returns

Excess Returns

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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.
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EVERY MONDAY A NEW EPISODE. I READ ALL MY EMAILS - contact form on my website - www.bogumilbaranowski.com. TELL ME YOUR STORY. I’m Bogumil Baranowski, an author, a TEDx speaker, an investor, and an investment advisor to families and individuals. Intimate conversations about money, wealth, and living a rich and fulfilling life. We talk about big ideas, big inspirations, big topics. We take on the hardest subject of all – money: how to make it, save it, keep it, but our conversations lead us t ...
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For beginners and experienced people alike, this podcast brings timeless financial knowledge and perspective to help people make better financial decisions. We also shine a light on real professionals in the financial and legal world. Get an inside look at how things work behind the scenes, and how you can get the most value when working with financial professionals. Hosted by Brian C. Beasley, CPWA® and Dan Alberth, MBA, CFP®. This content is for information and education only, and should n ...
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The Calling History Podcast is an unscripted, interview style phone conversation with the heroes, the villains, and the great thinkers of history. It’s an opportunity to ask them anything, in their time, while they are living it. How did Benjamin Franklin feel about leaving his comfortable life of fame and excess in London as a loyal British citizen to risk it all and return to America as a rebel? How did record setting Louise Thaden feel about racing and beating Amelia Earhart and yet her n ...
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Dune Not Enter

Dune Not Enter

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Hosts Humphrey Xu, Nolan Zeng, and Philmore Jeon explore the world of Dune by Frank Herbert. Join them as they read through the book and share their thoughts and opinions in detail, alongside goofy high-school commentary, pop culture references, and an excess of laughter! Contact us with questions/corrections/feedback at: Email: [email protected] Instagram: @dunenotenter Twitter: @dunenotenter Reddit: u/dunenotenter
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Nhan Nguyen worked his last day ever for his employer on December 10th, 2003. He was aged 23 years, 5 months and 27 days. In the prior 6 months he'd purchased ~$2,000,000 worth Of Property using None Of His Own Money. Since then he has done multiple projects successfully, making millions in profits in the process. It hasn't been smooth sailing though, but a journey of learning lessons, challenges, points of self-doubt, breakdowns and breakthroughs. In This podcast Nhan shares his insights in ...
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🎙 CanadaFarsi Podcast: صدای فارسی‌زبانان کانادا is your trusted source for news, insights, and stories that matter to Persian speakers in Canada. Whether you speak Farsi, Dari, or Tajiki, our podcast brings you engaging discussions on immigration, business, culture, and community life. From expert advice on settling in Canada to inspiring success stories and cultural conversations, we amplify voices from across the Persian-speaking world, including Iran, Afghanistan, Tajikistan, and beyond. ...
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#TalkDaredevil is a podcast about all things Daredevil in the greater Marvel universe, brought to you by the women behind #SaveDaredevil. On November 29, 2018, just as planning on Season 4 was about to get underway, Daredevil was abruptly cancelled by Netflix, and Marvel fans everywhere wondered if they’d ever see the Man Without Fear on-screen again. Since that cancellation, the #SaveDaredevil campaign worked to keep hope and momentum for Daredevil’s return alive. In the wake of Daredevil’s ...
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Just another Twin Peaks: the Return rewatch podcast. We talk about theories we had when we first watched it and how deeply wrong they were, and a ton of other unrelated stuff. We like to think we're hilarious. Support this podcast: https://podcasters.spotify.com/pod/show/is-it-future-or-is-it-podcast/support
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The Horse's Advocate Podcast is about helping horse owners find the missing horse owner's manual for owning and caring for horses. Geoff Tucker, DVM (aka, "Doc T"), brings you wisdom from over 50 years with horses. But beware - some of this stuff is NOT what you might expect. When the "box to think outside of" was built, he was never included and remained outside! This show aims to Help Horses Thrive In A Human World™.
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Clash of the Myrmidons

Tristan Darwin Kubik

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The South American rainforest is home to two titans. Leafcutter ants are sedentary farmers responsible for processing appreciable biomasses of tropical vegetation. They use their foraging material to cultivate obligate, fungal mutualists protected within their subterranean fortresses. Army ants are nomadic hunting machines that march in fanning swarms of thousands of individuals. They flush out and overwhelm kilograms of prey every day with their numbers, mandibles, and venomous stings. Whil ...
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In this episode of Excess Returns, we’re joined by Kai Wu of Sparkline Capital to explore one of the most important and overlooked aspects of Warren Buffett’s investing evolution: his shift from tangible to intangible value. Based on Kai’s research paper “Buffett’s Intangible Moats,” we examine how Buffett's portfolio has evolved alongside the econ…
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Today's Top Headlines:- Team P.E.I. swimmers dream of winning gold for the Island: https://tinyurl.com/26qlq9ql- Andrew Richter: Nuclear war is still a threat to humanity: https://tinyurl.com/2993nv3p- EXCLUSIVE: Puppies secretly tested and killed at Ontario hospital for human heart research: https://tinyurl.com/2cqnnbjl- Manitoba health officials …
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Today's Top Headlines:- Mystery solved: Identity of military nurse in northern Ont. portrait found: https://tinyurl.com/27rxj6vd- Scooping success: 11-year-old P.E.I. entrepreneur serves sundaes and smiles: https://tinyurl.com/2dl2ebmk- Blue Jays' Bo Bichette is going to get paid this winter. Here's how much he could make in free agency: https://ti…
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Hello, media consumers! Bryan and Joel start the show with J-School, discussing the new threats to the Voting Rights Act of 1965 as well as the ongoing Texas redistricting fight (01:43). Next, they dive into some headlines, starting with the deals made by ESPN this week. First, they go through all the details from the ESPN-NFL deal, including what …
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Today's Top Headlines:- Trump's broad tariffs go into effect, just as economic pain is surfacing: https://tinyurl.com/25ac7hum- Canadian teen Victoria Mboko's dream run continues at Canadian Open: https://tinyurl.com/27aq7vtp- United Airlines grounds flights at U.S. airports over technology glitch: https://tinyurl.com/2agy2f2p- Funnel clouds, golf …
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Today's Top Headlines:- Ant International’s WorldFirst Accelerates SEA Growth with Malaysia MSB Licence: https://tinyurl.com/22hnvdwh- Objectway Accelerates Its Growth Path Through an Investment From Cinven in Partnership With Its Founder Luigi Marciano and the Existing Management Team: https://tinyurl.com/24kafzy3- Adani Wins Bid for $3 Billion Co…
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Today's Top Headlines:- Art Collective teamLab to Open New Museum, teamLab Biovortex Kyoto on October 7, 2025: https://tinyurl.com/29ukbxo9- Notice of Results and Investor Presentation: https://tinyurl.com/2alkzlve- The Latest: Trump’s tariffs go into effect: https://tinyurl.com/2yuhpvbk- Asian shares mostly climb after a rally for Apple led Wall S…
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Today's Top Headlines:- Motorcyclist dies in collision near Langley Events Centre: https://tinyurl.com/2bharh3z- ‘Delusional’ man not liable for wife’s death, B.C. court rules: https://tinyurl.com/25u4awj3- United Airlines grounds flights at U.S. airports over technology glitch: https://tinyurl.com/2agy2f2p- Underpass collision shuts down major art…
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Today's Top Headlines:- Police seek suspect, as fake jewelry scams continue in Winnipeg: https://tinyurl.com/226fvbsa- Trump's broad tariffs go into effect, just as economic pain is surfacing: https://tinyurl.com/25ac7hum- Vancouver police renew call for information into 2023 stabbing death on Granville Street: https://tinyurl.com/23b6t7fw- Rampant…
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Today's Top Headlines:- Returned and reeling: Afghans expelled from Iran struggle to start over: https://tinyurl.com/29syzxpm- Vancouver police renew call for information into 2023 stabbing death on Granville Street: https://tinyurl.com/2atba2qf- Outfit7: Ready To Explore? Talking Tom & Friends: World Is Here!: https://tinyurl.com/2c4gdpyx- The Vin…
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Today's Top Headlines:- United Airlines grounds flights at U.S. airports over technology glitch: https://tinyurl.com/2cpbjnsh- Cracks in unified ‘Team Canada’ approach showing: https://tinyurl.com/22j8bnrd- B.C. woman lost $600K to ‘fraudulent scheme’ involving non-existent Dubai development, court hears: https://tinyurl.com/2cw6vb29- Communities i…
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Today's Top Headlines:- SABLE OFFSHORE SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 Of Lead Plaintiff Deadline In Class Action Lawsuits Against Sable Offshore Corp. - SOC: https://tinyurl.com/26uz2pqs- GAM Holding AG Announces First Half 2025 Results: https://tinyurl.com/2a4x82b4- HIMS & HERS HEALTH SHAREHOLDER…
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Today's Top Headlines:- Inside the Trump Family’s Money-Making Machine: https://tinyurl.com/2yfng97x- Bank of England Set to Cut Rates to Two-Year Low: https://tinyurl.com/2cehzap7- Canada Post no longer raising flag to indicate mail in rural areas: https://tinyurl.com/2xtsxrtm- Blue Jays set both MLB and franchise record in 20-1 rout of Rockies fo…
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Today's Top Headlines:- Victims of alleged prolific Vancouver scammer share stories, warnings online: https://tinyurl.com/25phfteu- Canada Post no longer raising flag to indicate mail in rural areas: https://tinyurl.com/2y36zkbc- Who will serve as honorary parade marshals at the 2025 Whoop-Up Days Parade: https://tinyurl.com/276mlfo8- Edmonton poli…
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Today's Top Headlines:- Chilliwack man found not criminally responsible for wife’s stabbing death: https://tinyurl.com/265w48sk- Ottawa police seek help locating missing teen: https://tinyurl.com/2yrqy3nm- ‘Our only route in or out’: Residents concerned over weight restriction on rural bridge: https://tinyurl.com/275weplv- First Nation disappointed…
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Today's Top Headlines:- U.K. scientists find genes linked with chronic fatigue syndrome: https://tinyurl.com/26kw8jf3- One person seriously injured in stabbing near Dufferin and Bloor: https://tinyurl.com/23nvbxjg- FDA flags problems with two Boston Scientific heart devices tied to injuries and deaths: https://tinyurl.com/263rczen- Sudbury police c…
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Today's Top Headlines:- Fredonia Mining Inc. Grants Stock Options: https://tinyurl.com/2cgw7tdq- Négociations avec les États-Unis: «C’est assez déroutant la façon dont l’équipe trumpienne se comporte»: https://tinyurl.com/25juy9bs- Québec solidaire dénonce le vote anti-Duhaime dans Arthabaska–L’Érable: https://tinyurl.com/2brmjlgj- Once a c…
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Today's Top Headlines:- Man sustains leg injury during industrial accident in downtown Toronto: https://tinyurl.com/2cgdaory- Hulk Hogan’s daughter explains her personal reason for not attending her father’s funeral: https://tinyurl.com/25jb44p3- Kinew accuses group of Republicans of pitching 'timber tantrum' over wildfire smoke: https://tinyurl.co…
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Today's Top Headlines:- OPP shut down London dispensary: https://tinyurl.com/25l99k7w- How Thomas Müller could give the Vancouver Whitecaps a star power that's hard to describe: https://tinyurl.com/29cokkuk- Three brothers, one boat, a potential world record and a 9,000-mile mission for clean water: https://tinyurl.com/27hxf42q- Manitoba RCMP iden…
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Today's Top Headlines:- Democrats refuse to return to Texas as Trump threatens FBI involvement: https://tinyurl.com/24apwpkj- ‘A beast’: Wildfire on Vancouver Island challenging crews, some relief from rain: https://tinyurl.com/26r3742m- Shooting at U.S. Army base in Georgia leads to casualties, lockdown: https://tinyurl.com/24vcyk7s- ‘We’re feelin…
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Today's Top Headlines:- S&P/TSX composite trading higher Wednesday on broad-based gains: https://tinyurl.com/2ydr4jgn- Group joins appeal of decision to fine mayor opposed to proclaiming Pride Month: https://tinyurl.com/2bqpo6oj- 3 youths accused of fatal attack on man in Fredericton Tannery area head to jury trial: https://tinyurl.com/2ykmg6nf- Se…
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Today's Top Headlines:- AI-generated wildfire images spreading misinformation in B.C., fire officials warn: https://tinyurl.com/27y7pxvw- ‘Full lawn watering ban’ in place for Ontario village: https://tinyurl.com/24s723ah- Man, 18, charged with dangerous driving after Ontario crash kills 1, injures 4: https://tinyurl.com/258upaoy- Smiths Falls woma…
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Today's Top Headlines:- Justice Department releases new list of so-called sanctuary jurisdictions: https://tinyurl.com/2xnpoup8- Suncor reports $1.13 billion Q2 net income, revises down spending estimate: https://tinyurl.com/286ndw4h- Cohere’s agentic AI platform North gets wide release, aims to handle ‘boring’ work: https://tinyurl.com/24f82vet- P…
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Today's Top Headlines:- McDonald’s global sales top estimates as affordable meal options boost demand: https://tinyurl.com/2dorojk8- ‘I just want to die’: TikTok video showing nine-year-old being bullied fuels back-to-school dread on P.E.I.: https://tinyurl.com/2yeed27k- Air Canada says Aeroplan to change how members earn points next year: https://…
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Today's Top Headlines:- Ticats add running back Brown and long-snapper Chaves, release veteran DB Dozier: https://tinyurl.com/22c44ulu- Toronto remains under smoky skies as haze expected to worsen until Friday: https://tinyurl.com/29syqwy6- Motorcyclist seriously injured after crash in Etobicoke: https://tinyurl.com/22prs52e- GTA housing market see…
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Today's Top Headlines:- Japan’s Honda forecasts drop in profits despite strong US auto sales: https://tinyurl.com/2c96tk9z- China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill: https://tinyurl.com/2byypv2x- Spotify Now Lets US Families Share Audiobook Access: https://tinyurl.com/28at6wd5- Brookfield Asset Mana…
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📈 In this episode of Excess Returns, we’re joined by Sam Stovall, Chief Investment Strategist at CFRA and author of The Seven Rules of Wall Street. We explore Sam’s timeless, data-driven investing rules and connect them to today’s market environment—including sector trends, interest rates, Fed policy, investor behavior, and why market history is on…
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Hello, media consumers! Bryan and Davis recount their trip to Part 2 of SummerSlam last night (0:20) before tackling some headlines, including ESPN and NFL moving forward with their proposed blockbuster media deal, more heavy hitters leaving The Washington Post, and an upcoming Kamala Harris book (22:00). They also discuss Bryan's brief time in use…
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[Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/]Today's guest: Monsoon Pabrai is the managing partner of Drew Investment Management, who combines generational wisdom fr…
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In this episode of Excess Returns, Matt Zeigler sits down with Grant Williams for a wide-ranging conversation on what he calls the “Hundred Year Pivot.” Grant shares his view that we are living through a once-in-a-century inflection point — a deep, structural shift that is reshaping markets, institutions, societal values, and even individual behavi…
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Find the FULL article here: https://bogumilbaranowski.substack.com/p/the-invisible-millions-the-quiet Please remember to sign up if you haven't already done so. IMPORTANT: I'm writing a personal email to the next 100 Substack subscribers. Sign up if you'd like to hear from me. I'm definitely curious to hear from you. THANK YOU! Podcast Program – Di…
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In this episode of Excess Returns, Justin and special guest host Kai Wu of Sparkline Capital are joined by Verdad’s Dan Rasmussen for a deep dive into the hidden risks lurking in private equity—and why they may be more dangerous than investors realize. Rasmussen, a long-time critic of the asset class, explains why the allure of illiquidity, stale p…
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Hello, media consumers! Joel Anderson is joined by Bomani Jones to discuss a few media headlines, including ESPN's decision to part ways with Shannon Sharpe and the serious gambling allegations against Gilbert Arenas (4:09), before they look at the future (or lack thereof) of sports television, being a generalist vs. a specialist in 2025, the rise …
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Macro strategist Darius Dale returns to Excess Returns with a deep dive into the seismic shifts shaping markets today. From the implications of the Fourth Turning to the systemic risks of fiscal dominance, Dale shares how he’s helping investors stay on the right side of market risk using quantitative tools and macro insights from 42 Macro. This epi…
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Hello, media consumers! Bryan and David cover some headlines, including the approval of the Paramount-SkyDance merger, a discouraging new study about google searches and AI, Bill Belichick rapidly approaching his first game as a college head coach, the WaPo exodus (cont.), and more (9:45), Then, they discuss the wide-ranging obituaries of the late …
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[Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/] Nick Maggiulli is the COO at Ritholtz Wealth Management, a bestselling author of "Just Keep Buying," and creator of the…
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A story, an invitation, an update, and a sincere thank YOU -- listen to hear more. [Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/] Podcast Program – Disclosure Stateme…
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In this episode of Excess Returns, Mike Green returns to dissect the structural transformation underway in public markets due to the rise of passive investing. He explains why “there’s no such thing as a passive investor,” how inelastic flows distort prices, and what it means for valuation, volatility, and the long-term sustainability of equity mar…
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Subscribe on Apple Podcsasts https://podcasts.apple.com/us/podcast/the-jim-paulsen-show/id1828054999 Subscribe on Spotify https://open.spotify.com/show/3QaBDVGuBZ3cZfFZ4mqPFc Subscribe on YouTube https://www.youtube.com/excessreturns In the premiere episode of our new monthly series, The Jim Paulsen Show we dig into Jim's latest research and the ch…
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Hello, media consumers! Bryan and Joel start the show with J-School, reexamining Zach Baron's interview on profile writing, before discussing the news of Hulk Hogan's death at the age of 71 (1:03). Next, they run through some headlines, including the possible marriage of ESPN and the NFL, what exactly is going on regarding the Epstein files, and Hu…
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📉 What the Market Is Getting Wrong | Liz Ann Sonders on Debt, Tariffs, and the Fed In this episode of Excess Returns, we welcome back Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, for an in-depth conversation about what's really driving markets right now. Drawing on her latest research and commentary, we dig into retail trading dy…
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Hello, media consumers! Bryan and David discuss dueling theories on why Paramount decided to cancel 'The Late Show With Stephen Colbert,' NPR and PBS losing federal funding, The Wall Street Journal's Trump/Epstein scoop, and FS1's shake-up that leaves Joy Taylor out and 'Barstool Sports' in (8:42). Then, Bryan is joined by David Marchese of The New…
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[Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/] John Zolidis is the president and founder of Quo Vadis Capital with 25+ years as one of Wall Street's most insightful r…
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Policy uncertainty is rising—but markets seem unfazed. In this episode, we sit down with Libby Cantrill, Head of Public Policy at PIMCO, to explore the critical policy risks that investors may be underestimating or ignoring altogether. From the real-world implications of the tariffs to questions around Fed independence, fiscal stimulus, and housing…
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Hello, media consumers! Bryan is joined by GQ’s Zach Baron to discuss every aspect of celebrity profiling: how they are “brokered”; the process of interviewing; some of his past subjects, including Martin Scorsese, Brendan Fraser, and Tilda Swinton; and more. Then Bryan asks the following question: “Is the celebrity profile dead or dying?” Host: Br…
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Why didn’t the long-predicted recession arrive? In this episode, we talk with Aahan Menon, founder of Prometheus Research, about why traditional macro models are breaking down and what investors are missing in today’s economy. Aahan explains why recession indicators have failed, how monetary policy transmission has changed, and what really matters …
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Hello, media consumers! Bryan is joined by Sean Fennessey to discuss the future of owning physical media! (3:30) Magazines (17:55) Blu-Rays and DVDs (25:32) Books (34:47) Newspapers (50:11) CDs and vinyl Host: Bryan Curtis Guest: Sean Fennessey Producer: Kyle Crichton Learn more about your ad choices. Visit podcastchoices.com/adchoices…
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[Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/] Manish Singh is a global investor and meditation practitioner who manages family capital across India, North America, a…
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Billions are moving through the stock market every day—but not for the reasons most investors think. In this episode, Brent Kochuba of SpotGamma breaks down the hidden world of options dealer flows and explains how concepts like gamma, vanna, and charm are silently shaping market behavior. Whether you’re a trader or long-term investor, understandin…
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Bryan and Joel discuss the Texas flash floods, how the story hits them as parents and Texans, the slow trickle of information, defensive posturing from Texas leadership, misinformation gaining traction online, and more. Host: Bryan Curtis and Joel Anderson Producer: Kyle Crichton Texas Deserves Far Better Than This by Joel Anderson Learn more about…
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