The Bull of Wall Street

In this episode, emerging markets specialist and Ethos Investment Management founder James Fletcher joins host Jim Worden to unpack how “Warren Buffett-style” investing can thrive in inefficient markets, and why pairing returns with real-world impact can be a durable edge. James shares how Ethos uses a global network of locally based analysts and BYU Pathway graduates to uncover under-covered opportunities, and how Young Investor Society grew from one inner-city classroom to 3,400 high schools in 80 countries. What you’ll learn:How a boots-on-the-ground research model uncovers alpha in emerging marketsWhy small- and mid-cap stocks in places like India, the Philippines, Kenya, and Poland are so inefficientHow the Ethos Pathway Fund structure ties management fees directly to funding analysts from underprivileged backgroundsThe origin and global reach of Young Investor Society, and why high school students can be serious equity analystsWhere James sees the most compelling EM opportunities over the next 3–5 years (India, Southeast Asia, “Mag-7-adjacent” tech in Taiwan & Korea)His nuanced take on China, EVs, and domestic champions vs. multinationals Chapters:02:05 – From Brazil mission to emerging markets investor: James’ path to Ethos04:00 – Launching Ethos and building a locally based analyst team07:00 – BYU Pathway and the Ethos internship: turning education into alpha14:05 – Young Investor Society: from one LA classroom to a global program29:00 – Real-world examples: Philippine ports, Kenyan telecoms, and finding mispriced quality31:20 – Accessing India and other hard-to-reach markets34:20 – EM vs. US: currencies, valuations, and why James is bullish on EM now38:50 – China, EVs, and the rise of domestic champions46:55 – Scaling the Pathway model and what’s next for Ethos49:20 – How advisors and investors can think about EM allocations and get involved Guest: James Fletcher, Founder & Chief Investment Officer, Ethos Investment ManagementHost: Jim Worden, Chief Investment Officer, The Wealth Consulting Group Follow usLinkedIn: The Wealth Consulting GroupX (Twitter): @WealthCGYouTube: @thewealthconsultinggroup Making Life Better at The Wealth Consulting GroupIf you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.Subscribe at bit.ly/wealthcg

In this episode, technical strategist and Fairlead Strategies founder Katie Stockton, CMT, joins hosts Jim Worden and Talley Leger to explore the discipline of technical analysis—how it complements fundamentals, informs risk management, and shapes portfolio strategy. Katie shares the story behind launching the Fairlead Tactical Sector ETF (TACK) and how she applies a systematic, long-term approach to identifying opportunities and managing drawdowns. What you’ll learn:  •  Why technical and fundamental analysis work best together  •  How to apply trend-following and momentum without chasing noise  •  Lessons from launching an ETF built for risk-aware investors  •  How advisors can use sector rotation and cross-asset diversification  •  Common mistakes advisors make when applying momentum or trend models  •  Katie’s most under-appreciated indicators for gauging trend exhaustion Chapters02:00 – From CMT to entrepreneur: Katie’s journey to Fairlead Strategies06:00 – Launching TACK: designing a risk-aware ETF12:00 – Technicals vs. fundamentals: finding balance18:00 – Sector rotation and market breadth24:00 – Risk management and adaptive models31:00 – The art of using indicators effectively45:00 – How advisors can apply trend discipline in practice58:00 – Katie’s most underrated tools and closing thoughts Guest: Katie Stockton, CMT, Founder & Managing Partner, Fairlead StrategiesHosts: Talley Leger (Chief Market Strategist, WCG) & Jim Worden (CIO, WCG) Follow usLinkedIn: The Wealth Consulting GroupX (Twitter): @WealthCGYouTube: @thewealthconsultinggroup Making Life Better at The Wealth Consulting GroupIf you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.Subscribe at bit.ly/wealthcg

In this episode of The Bull of Wall Street, Jim Worden sits down with Adam Patti, CEO and Co-Founder of VistaShares, to explore how ETFs are evolving in the age of AI, electrification, and innovation supercycles. From creating one of the first hedge-fund-replication ETFs to building a new generation of active, rules-based products, Adam shares insights into how investors can capture the infrastructure powering artificial intelligence, and why transmission, cooling, and power distribution may be among the biggest opportunities in years. The discussion also covers the concentration risk in major indices, the next phase of AI-driven capital spending, and how innovation in ETF design is meeting the demands of a fast-changing investment landscape. What you’ll learn:Why 30% of an AI data center’s cost is cooling—and who’s profitingThe “bill of materials” approach to ETF construction and why it mattersWhy AI infrastructure—not applications—will drive returns near termHow electrification, energy transmission, and power are the next frontierThe importance of real diversification as mega-cap concentration growsLessons from launching IndexIQ and building successful ETF families Chapters02:00 – From Fortune Indexes to founding IndexIQ03:46 – The early ETF era and selling to New York Life05:33 – Launching VettaFi and meeting Tesla’s former president06:50 – Building smarter AI ETFs with industry experts08:37 – Mapping AI’s supply chain: the “bill of materials” approach10:11 – AI infrastructure vs. applications: where the profits are11:19 – Power problem: generation vs. transmission opportunity15:23 – Early innings of the AI supercycle17:19 – Quantum computing, AI synergy, and what’s next18:22 – Overlapping supercycles: AI, robotics, biotech, and space23:14 – Inside VettaFi’s ETF families: growth, options income, tactical alpha25:33 – Options income strategies and building stability26:17 – High-beta exposure and the “WILD” ETF30:49 – Diversification, multifactor strategies, and position sizing31:40 – Growing investor interest in options income32:28 – Innovation pipeline: what’s next for ETFsGuest: Adam Patti, CEO and Co-Founder of VettaFiHosts: Jim Worden, CFA, CMT, CAIA Follow usLinkedIn: ⁠https://www.linkedin.com/company/the-wealth-consulting-group/⁠X (Twitter): @WealthCGYouTube: @thewealthconsultinggroup Making Life Better at The Wealth Consulting GroupSubscribe for advisor-first insights and resources: bit.ly/wealthcg For advisor use only.

Cole Wilcox, Chief Investment Officer at Longboard Asset Management, discusses how to identify investments that may provide true diversification versus those that simply appear to. He also explains the difference between trend strategies and momentum approaches, and how stock-level trend following may help reduce correlation, improve tax efficiency, and enhance the overall client experience without relying on fully unconstrained futures strategies. What You’ll Learn  •  How to identify alternative investments that may provide genuine diversification.  •  The difference between trend strategies and momentum approaches.  •  How applying systematic trend techniques at the stock level may enhance portfolio diversification.  •  The role of disciplined risk management and when allocations may shift toward short-term Treasury bills.  •  How tax efficiency and loss-harvesting can vary between investment structures.  •  Practical portfolio considerations for using multiple, uncorrelated alternative strategies effectively. Advisors who are seeking ways to maintain diversification while improving the client experience with alternative strategies will find this discussion especially useful. Chapters:02:42 – Inside liquid alternatives and systematic trend strategies06:12 – Market cycles, investor behavior, and risk awareness09:20 – Trend vs. momentum: understanding the distinction14:01 – The evolution of trend following and Longboard’s approach16:51 – Why stock-level trend following may offer unique advantages21:18 – How systematic risk management can guide shifts toward T-bills25:21 – Building portfolios with diversification and discipline27:29 – Tax efficiency and potential long-term investment implications30:19 – How market dispersion and breadth can impact performance33:11 – Managing whipsaw risk and maintaining process discipline35:11 – Practical allocation insights and constructing an alt sleeve39:04 – Avoiding redundancy in alternative strategies42:07 – Balancing diversification goals with client experience Guest: Cole Wilcox, CIO,  Longboard Asset ManagementHosts: Talley Leger, Paisley Nardini, CFA, CAIA, and Jim Worden, CFA, CMT, CAIA Follow usLinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/X (Twitter): @WealthCGYouTube: @thewealthconsultinggroup Making Life Better at The Wealth Consulting GroupSubscribe for advisor-first insights and resources: bit.ly/wealthcg For advisor use only.

Few people have seen the financial advice industry evolve from as many vantage points as Andy Kalbaugh. Before becoming President of The Wealth Consulting Group, Andy spent over 25 years in the C-suite, including leading American General Securities and Mutual Service Corporation, and serving as Managing Director and Divisional President at LPL Financial—helping steer it to become the largest independent broker-dealer in the U.S. In this episode, Andy joins Jimmy Lee to discuss the future of advice, what drives firm enterprise value, and how advisors can build businesses that last beyond them. From the role of technology and AI to the human side of client relationships, Andy shares hard-won insights on leadership, capital, and succession planning from decades at the top. What you’ll learn:  •  How technology is reshaping, not replacing, financial advice  •  The four pillars of enterprise value every advisor should track  •  Why building a repeatable business is key to freedom and valuation  •  Lessons from leadership at AIG and LPL that apply to any firm owner  •  The growing role of private equity and capital solutions in advisor succession  •  Why the human connection will remain at the center of wealth management Chapters:04:04 – The advisor landscape: how tech and human advice will coexist07:32 – The rise of $100B+ firms and the next wave of consolidation10:36 – Enterprise value: recurring revenue, organic growth, M&A, and talent15:30 – Building a business that runs without you: systems, process, brand19:14 – Working on the business vs. in the business24:26 – Attracting affluent clients through expertise and brand focus30:04 – Lessons from legends: Hank Greenberg, Mark Casady, and Dan Arnold34:42 – Industry risks, AI disruption, and why empathy still wins44:03 – Succession planning and the rise of private equity capital Guest:Andy Kalbaugh, President, The Wealth Consulting Group Host: Jimmy Lee, CEO, The Wealth Consulting Group Follow usLinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/X (Twitter): @WealthCGYouTube: @thewealthconsultinggroup Making Life Better at The Wealth Consulting GroupIf you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.Subscribe at bit.ly/wealthcg

From the dot-com era to today’s AI boom, Baron Technology Fund portfolio manager Ashim Mehra has seen innovation cycles up close. In this episode, he joins Jim Worden and Talley Leger to break down the layers of AI (infrastructure, models, and applications), where the real opportunities lie, and why even trillion-dollar narratives need perspective. The conversation explores the speed of disruption, global competition, capital flows, and how investors can separate durable trends from froth. What you’ll learn:How AI compares to the internet revolution and why the pace is even fasterWhy infrastructure, models, and applications each carry different investment risksThe difference between a bubble and a mania—and why AI is not just airHow OpenAI, Nvidia, and other players are shaping short-term demandWhy long-term winners will be defined by innovation speed and executionThe global AI race between the U.S. and China, and what it means for investorsPractical examples of applied AI already transforming industries Guest: Ashim Mehra, Portfolio Manager, Barron Technology FundHosts: Jim Worden (CIO, WCG) & Talley Leger (Chief Market Strategist, WCG) Follow usLinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/X (Twitter): @WealthCGYouTube: @thewealthconsultinggroup 02:01 – AI’s rapid evolution and comparison to the internet era03:29 – The AI stack: infrastructure, models, and applications08:13 – Bubble vs. mania: why AI is real but returns may not be linear11:09 – Nvidia, OpenAI, and the concentration of demand15:34 – Beyond productivity: medicine, robotics, chemistry, and new compounds29:54 – AGI timelines and why enterprises chase the prize36:26 – Evaluating people and pattern recognition in investing37:35 – U.S.–China AI race, geopolitics, and cloud gatekeepers43:41 – Risks to capex: power, efficiency, and ROI concerns48:55 – Applied AI examples: Axon police workflows and Hinge Health PT57:18 – Small/mid-cap opportunities and concentration challenges60:05 – Stock picking today: more data, more volatility62:13 – Will AI replace investors or become an efficiency tool? Making Life Better at The Wealth Consulting GroupIf you are ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice and your life better.Subscribe at bit.ly/wealthcg

Health is wealth, and as advisors the impact we make extends beyond portfolios. In this two-part episode, Jimmy Lee first sits down with his good friend Dr. Matthew Schwartz, radiation oncologist and UNLV faculty member, to explore how proteomics is changing cancer treatment. Then Dr. Thomas Dayspring, one of the world’s foremost educators on lipids and mentor to Dr. Peter Attia, explains why cardiovascular disease remains the number one preventable cause of death, plus the simple blood tests and treatments that can save lives.Disclaimer: This episode is for informational purposes only and does not constitute medical advice. Please consult your physician for personal medical guidance. What you’ll learn:How proteomics differs from genomics and why it could be a game changer for cancer careWhy many oncologists are not yet using this testing and what patients and families should knowThe role of precision oncology in identifying the right treatment at the right timeWhy cardiovascular disease is still the leading killer, and how ApoB and Lp(a) testing can change outcomesTreatment options that go far beyond good vs. bad cholesterol, and what longevity-focused medicine recommendsPractical steps advisors and their clients can take to advocate for their healthChapters00:00 – Welcome and episode purpose02:18 – Dr. Matthew Schwartz on proteomics vs. genomics07:06 – How Ignite testing works and why it matters11:07 – Effectiveness, adoption, and access for patients16:31 – Awareness, advocacy, and making cancer a chronic disease21:23 – Dr. Thomas Dayspring on cardiovascular disease prevention28:36 – ApoB and why particle number drives risk40:12 – Lipoprotein(a), genetics, and early testing52:08 – Treatment options: lifestyle, statins, PCSK9s58:40 – Lowering ApoB, plaque, and longevity goals01:19:21 – Target numbers and why very low is safe01:26:23 – New therapies for Lp(a) and what’s ahead01:33:20 – Diet, imaging, and practical takeaways01:37:56 – Education gap and being your own advocate01:42:39 – Closing thoughts and advisor roleGuests:Dr. Matthew Schwartz, MD, Radiation Oncologist, Comprehensive Cancer Centers of NevadaDr. Thomas Dayspring, MD, FACP, FNLA, Educator on Lipids, Early MedicalHost: Jimmy Lee, CEO, The Wealth Consulting GroupFollow usLinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/X (Twitter): @WealthCGYouTube: @thewealthconsultinggroupMaking Life Better at The Wealth Consulting GroupIf you are ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice and your life better.Subscribe at bit.ly/wealthcg

Here's the title and description. Title:Jonathan Krane, CEO of KraneShares on China as an Asset Class, AI’s “ChatGPT Moment,” and What Advisors Are Missing Description:Are your clients under-allocated to the world’s second-largest economy? KraneShares CEO Jonathan Krane argues China is behaving like a distinct asset class—and many portfolios aren’t built for it. What you’ll learn:Why China’s share of EM could justify EM ex-China + China completion strategiesHow A-shares, Hong Kong, and U.S. listings fit together in practical ETF allocationsWhy 2025’s AI and clean-tech surge in China may mirror the U.S. “Magnificent 7” runHow sentiment, low local rates, high savings, and targeted policy shifts can fuel flowsA realistic path for U.S.–China engagement that balances competition and cooperationWhere advisors can find thematic exposure (EVs, batteries, energy storage, biotech, carbon)Chapters00:00 – Welcome: Talley Leger & Jim Worden set the table01:08 – Founding KraneShares: boots-on-the-ground in Shanghai → ETF thesis05:48 – China as its own allocation: from EM to EM ex-China + China08:17 – Sentiment shift & 2025 performance: why investors may be caught off guard13:23 – Efficient access for advisors: core A-shares + thematic building blocks14:20 – Tech leadership: EVs, batteries, solar, AI, biotech—what scaled first in China17:18 – Cooperation vs. competition: a pragmatic framework for engagement23:47 – Infrastructure 2.0 & domestic demand: savings, stimulus, and renewal26:13 – Clean energy reality: EV adoption, storage, and grid-friendly solutions29:34 – What KraneShares is watching: AI, humanoid robotics, carbon markets, alts31:25 – Tokenization: new liquidity pools for “traditional” products32:16 – Closing thoughts & takeaways for advisor portfoliosGuest: Jonathan Krane, CEO of KraneSharesHosts: Talley Leger (Chief Market Strategist, WCG) & Jim Worden (CIO, WCG)Follow usLinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/X (Twitter): @WealthCGYouTube: @thewealthconsultinggroupMaking Life Better at The Wealth Consulting GroupIf you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.Subscribe at bit.ly/wealthcg 

Fred and Talley go all in on what’s happening in the markets.  As a former President of The Chartered Market Technician Association, Fred combines a  macro background to technical analysis.  The Fred Report provides research to his clients that includes financial advisors.  He currently likes some asset classes that present both attractive charts and value.  Don’t miss Fred and Talley discuss current markets and how technicals are blinking green in some areas that investors are not paying enough attention to.

Meb, Paisley, Jim and Talley riff about surfing, 351 ETF conversions, stock buy backs, shareholder yield, why Mark Cuban is wrong, and much more!  Meb is one of the best personalities in finance with a combination of knowledge and great communication skills.  Listen to our gang and Meb discuss why certain investment strategies are ripping today and some are not.  He likes being diversified right now- FYI! He's also hosting a surf event at Future Proof for those who are attending.  Don't miss Meb on The Bull of Wall Street!

Carley is a regular in the financial media being interviewed everywhere for her expertise in trading, options, commodities, and the markets.  She talks to Jim about how managing risk and her concerns about how deleveraging can affect certain products out there.  It’s an important interview to get all investors to pay attention to risk.  Carley points out how all of the money that has been created and invested into the economy has created inflation in many assets. She also points out the trading strategies that many investors are using may be exposed to more risk than they think.  She also talks about Crypto brokerages and how some of them operate.

Zack is a venture debt investment fund manager and podcast host.  He is also an author with a very unique perspective being a part of some of the biggest bond trades of all time.  A.R.I. provides growth credit to the best VC-backed technology companies in North America. He was Director of U.S. Public Fixed Income at Sun Life Financial.  Prior to Sun Life, Zack was a corporate bond and credit default swap trader at Deutsche Bank.  During the GFC, he was an investment banker where he successfully underwrote and managed a portfolio of leveraged media, tech, and telecom loans at Scotia Bank.   Zack talks to Jim and Talley about how venture debt works.  The strategy includes lending against revenue vs. hard assets for typical loans. In many cases it's the intellectual property that is used as the collateral for these loans.  Learn about why private lending has taken off and more specifically concerning the fast moving tech sector.  

Jan van Eck is the CEO of VanEck, an asset manager that been known since 1955 for identifying investment trends.  VanEck was one of the first U.S. asset managers to offer investors access to international markets and recognized early the transformative potential of gold investing, emerging markets, ETFs and digital assets. Today, the firm’s capabilities range from core investment opportunities to more specialized exposures to enhance portfolio diversification.Jan brings a unique approach and perspective to investing.  His quote, “Don’t settle for the conventional. Dare to be different.”

Chuck talks to Jim, Talley, and Jimmy about all of his amazing guests he’s had a chance to interview.  He believes that the Fed will not cut rates before the end of this year and gives us his reason why.  We explore the do it your self investor and if they have changed based on demographics.  He has written books about how to pick an advisor and provides great insight about investor’s with his many years of experience being a journalist first leveraging radio and now podcasts.

Listen to what makes Ed constructive on equities and also what risks he sees that could disrupt this bull market.   As the Chief U.S. Strategist for one of the industry’s most respected research firms, Ed shares with Jim and Paisley what their research shows that is forming his current views.  It’s a great listen on how the economy may shift and the markets may react.

One of the most intellectual discussions with a guest about all things money.  Jim, Talley, and Jimmy have a ball talking about the markets, the “Volmageddon” trade that netted $244m for Thiel Macro, Ai, Bitcoin, and more with Mike.   It’s a must listen to hear from one of the industries most celebrated investors among the hedge fund followers.  We also discuss the passive vs. active debate but in a way that considers very different aspects that are not spoken about frequently.  Mike’s new book coming out this fall/winter will provide a provocative view around this issue.

Jim talks with Eli about the energy transformation happening right now in the United States and abroad.  It’s an informational conversation about one of the most important foundational issues in business today.  Questions such as how do we power the AI revolution and what technologies will be the critical drivers of the evolution in energy are discussed.  The rapid change in how energy and power are sourced, produced, transported, and consumed is creating once-in-a generation investments across sectors including industrials, energy, materials, and technology.

Jim, Talley and Paisley have an insightful conversation with one of the investment and hedge fund industries legends.  Cliff shares his journey as the managing founder of AQR and the evolution of quantitative analysis.  As AQR’s investment strategies have taken off targeting high net worth investors Cliff talks about the innovation that has helped their company take the lead in working with investment advisors.  He also discusses his views around the economy and markets.  Don’t miss this episode with one of the best in the business.

The WCG investment team riff about what's concerning investors and advisors right now.  We discuss tariffs- are they really inflationary?  What about the Fed- what will they do with cuts or no cuts?  Recession- yes, no or something else?  What sectors might perform better than others in this environment?  What about the Mag 7- is it still a good strategy?  What about bonds?  Join us in this discussion about what we think is important for advisors to be considering right now. 

Anh and Jimmy talk about how she began her career as an attorney then transitioned into financial planning at Goldman Sachs before starting her entrepreneurial journey founding Sagemint Wealth.  What you will learn from this conversation is how Anh acquired an advisory business and integrated the clients into her practice.  We also discuss being a female and minority executive in finance, her parents immigration into the United States and how that foundation has translated into her family’s mantra “Live Well, Do Good” and conclude by learning about Anh’s passion for integrating health and longevity into her life and business.