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Excess Returns
Excess Returns
551 episodes · by Excess Returns
About Excess Returns
Excess Returns is a podcast with 551 episodes in the PodLexicon database, each accompanied by a full searchable transcript and AI-generated summary. 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. PodLexicon indexes every episode of Excess Returns and turns each one into a searchable AI summary — find the episode that covers a topic, track how that topic evolved over time, or compare what different guests said about it.
Topics Covered on Excess Returns
Management Quality and Capital Allocation
Notable Guests on Excess Returns
Recent Episodes
The Rally is Broadening. The Earnings Growth Isn't. Liz Ann Sonders on Which Breaks First — August 22, 2026We Asked Andy Constan What Happens If AI Funding Breaks Before the Thesis — And if Warsh Blinks — August 20, 2026We Asked Value Legend Bob Robotti Why the Real AI Trade Isn't AI — And Why Passive Helps Stock Pickers — August 18, 2026Jim Paulsen Sees a Growth Scare Coming | The 34 Charts That Make Him Cautious — August 14, 2026We Asked T. Rowe's $8 Billion Tech Manager Why We Are in 1998 — And Why Software Is in Trouble — August 11, 2026David Rosenberg and Rich Bernstein on What Ends the AI Trade — And What They Own Instead — August 08, 20264% Inflation. Stretched Valuations. Why Is the Market Still Risk-On? | Tian Yang — August 06, 2026The Biggest Leak in Finance | Brent Donnelly on Why You're Probably Too Bearish — August 04, 2026A $20B Blowup. A War-Sized AI Bet. Was the Bottom Just a Margin Call? | Last Call — August 02, 2026A War-Sized AI Bet. Private Credit Went All In. Will the Government End Up Owning It? — July 31, 2026He Called It the Worst Chart Imaginable. Then He Bought It | Rupert Mitchell on Cracks in the Mag 7 — July 29, 2026The Warren Buffett Portfolio: Robert Hagstrom on What Wall Street Gets Wrong About Risk — July 28, 2026Even God Would Be Fired | Wes Gray on Bubbles, AI Valuations and Why Size Was Never the Edge — July 25, 2026Not a Time for Big Bets | Aahan Menon on What 60 Years of Regime Data Says About Today’s Market — July 23, 2026We Asked the Man Who Mapped the AI Economy If the Boom Is Real — And Who Keeps the Money — July 21, 2026It Only Happens at Bottoms | Andy Constan on the Options Extreme That Showed Up at the Highs — July 18, 2026Jack Schwager on Timeless Lessons from Elite Traders — July 16, 2026The Recession the Unemployment Rate Can't See | Eric Pachman on the Data Beneath the Jobs Report — July 14, 2026Jim Paulsen Sees a Correction Coming | The 33 Charts That Turned Him Cautious — July 11, 2026Big Uptrend. Tech Momentum Fading | Katie Stockton on the Rotation Investors Are Missing — July 09, 2026We Asked a $1 Billion Quant Manager Why Concentration Isn't a Warning — and Small Caps Aren't Dead — July 07, 2026The $600 Billion Loop | Jeff Klingelhofer on AI, the Return of Bonds and the Fed's Third Mandate — July 06, 2026We Asked Meb Faber Why US Stocks Won for 250 Years — And If It Can Continue — July 05, 2026Semis Gone Parabolic. Fed Credibility Reversal. Can the Rally Survive the Flows? — July 03, 2026The AI Trade, the Fed and the Next Phase of the Bull Market | Warren Pies — July 02, 2026He Wrote the Book on Why Moats Fail | Ritavan on What Actually Compounds Instead — July 01, 2026The 100 Year Thinkers: Chris Mayer on SpaceX, AI Reckoning, and Why Early Is Overrated — June 27, 2026We Asked GMO’s Head of Asset Allocation Why This Bubble is Easy — But Investors Will Get it Wrong — June 24, 2026Finding Quality Growth in Emerging Markets with Ian Smith — June 22, 2026The $2 Trillion Question | Tobias Carlisle on SpaceX, the AI Buildout, and the Rotation No One Sees — June 20, 2026The Trillion Dollar Gap | Aswath Damodaran on SpaceX, AI and the Big Market Delusion — June 19, 2026Andy Constan on the SpaceX IPO, AI CapEx, and the End of the Buyback Tailwind — June 16, 2026The SpaceX IPO Meets a Huge Options Expiration | Brent Kochuba on What Comes Next — June 13, 2026Mike Green on What Happens When Passive Flows Meet the Largest IPO in History — June 11, 2026We Asked Vanguard’s Chief Economist Why AI Has Two Huge Tails — And Which One Wins — June 09, 2026The SpaceX IPO… What Happens When $1.75 Trillion Meets 4% Float — June 06, 2026Tech Spending Has a Cash Problem | Jim Paulsen on the Two Signals That Could Trigger a Correction — June 04, 2026He Quantified 200 Years of Disruption | Kai Wu on Separating Software Survivors from Value Traps — June 02, 2026The Three Cracks in the AI Trade | Ben Hunt, Brent Kochuba and Aahan Menon on What Could Derail the Market's Biggest Bet — May 30, 2026Cheap Is a Warning, Not a Thesis | Adam Parker on What This Market Is Really Pricing — May 28, 2026He Built the Fund He'd Hold 30 Years | Eric Crittenden on What Investors Pick When Labels Come Off — May 26, 2026Cliff Asness on Bubbles, Private Equity and His Research Greatest Hits — May 23, 2026He Studied Every Bear Market Since 1929 | Ben Carlson on How the Worst Starting Point Still Made 8% — May 21, 2026Is AI Still in 1995? Gene Munster and Doug Clinton on the Next Phase of the AI Boom — May 19, 2026Jeremy Grantham on AI, Bubbles and Why Mean Reversion Lives On — May 16, 2026He Studied the Financial System for Decades | Marc Rubinstein on Where the Real Risk Is — May 15, 2026Lessons from Investing Through Bubble Regimes with Andy Constan — May 14, 2026He Wrote the Book on Bubbles | Edward Chancellor on If AI is Different — May 12, 2026We Asked an Options Expert Why This Melt Up Hasn’t Broken — and Which Signal Could End It — May 10, 2026We Asked a $4.5B Quant Manager Why the S&P 500 Is Just 46 Stocks — and Why Small Caps Aren't Dead — May 08, 2026
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