Upside Capture

Tariffs and trade wars have convinced many investors that globalization is in retreat, yet global trade and capital flows remain near record highs. What has changed is China's rise as a superpower rival to the US, pulling the world economy into competing blocs.Host David Stubbs is joined by Neil Shearing, Chief Economist at Capital Economics and author of The Fractured Age, to unpack why the world is fracturing rather than de-globalizing and what a full US–China split could cost the global economy.They also discuss why recurring supply shocks strain the traditional 60/40 portfolio, how "China Shock 2.0" puts Europe in the firing line, and why AI is a real technology even if markets have run ahead of it. The conversation closes with how investors can navigate geopolitics over the next 15 years.Visit Us: https://alphacore.com/ Neil Shearing at Capital Economics: https://www.capitaleconomics.com/ The Fractured Age: https://www.amazon.com/dp/1399825720?lv=shuf&channelId=500&plpRedirect=mhFallbackDisclaimer: This podcast is being provided for informational purposes only and does not constitute an offer or solicitation, and should not be considered tax, legal, or accounting advice. The information represents the current views and opinions of the speakers as of the date of this podcast, and there is no guarantee that any opinions will prove to be accurate, or any forecasts made will come to pass. No obligation is undertaken to update any information, data, or material contained herein. This communication is not recommending the purchase, sale or hold of any security.This presentation and the information contained herein may not be reproduced, in whole or in part, in any format without AlphaCore’s express prior written consent.Certain information contained herein has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, AlphaCore does not assume any responsibility for the accuracy or completeness of the information, which is based on matters as they exist as of the date of this podcast and not as of any future date. Before embarking on any investment program, you should carefully consider the risks and suitability of a strategy based on your own investment objectives and financial position.

U.S. stocks have dominated global markets for more than a decade, and many portfolios have drifted out of balance as a result. Sean O'Hara, president of Pacer ETFs, argues that the standard fix of buying a broad, market-cap-weighted international index brings exposures investors may not intend to own, from a heavy weight in banks to sectors with little growth behind them.Host David Stubbs sits down with O'Hara to unpack two alternative lenses on international equities, one built on free cash flow yield and the other on patent value as a measure of innovation. They discuss why free cash flow is difficult to shape through accounting, how patent value is assessed across jurisdictions, where each approach can sit alongside traditional international exposure, and where O'Hara believes the ETF industry may be going too far.Learn more about Pacer ETFs at pacerets.com.Learn more about AlphaCore Wealth Advisory at alphacore.com.Disclaimer: This podcast is being provided for informational purposes only and does not constitute an offer or solicitation, and should not be considered tax, legal, or accounting advice. The information represents the current views and opinions of the speakers as of the date of this podcast, and there is no guarantee that any opinions will prove to be accurate, or any forecasts made will come to pass. No obligation is undertaken to update any information, data, or material contained herein. This communication is not recommending the purchase, sale or hold of any security.This presentation and the information contained herein may not be reproduced, in whole or in part, in any format without AlphaCore’s express prior written consent.Certain information contained herein has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, AlphaCore does not assume any responsibility for the accuracy or completeness of the information, which is based on matters as they exist as of the date of this podcast and not as of any future date. Before embarking on any investment program, you should carefully consider the risks and suitability of a strategy based on your own investment objectives and financial position.

Private equity's reputation was built on leverage. Alisa Wood, co-CEO of KKR's evergreen private equity business, argues the returns now come from something much harder to copy — running better companies. Alisa joins host David Stubbs to explain why the wide performance gap between managers makes selection "the who, not the what," and where she sees operational value creation today. All views and figures are Wood's own and are not a recommendation or an offer to invest.In this episode, we discuss:Wood's "the who, not the what" case for manager selectionKKR's global investing approach and where Wood sees opportunityGermany and Japan examples in operational value creationHow to frame AI, exits, and evergreen structuresDisclaimer: This podcast is being provided for informational purposes only and does not constitute an offer or solicitation, and should not be considered tax, legal, or accounting advice. The information represents the current views and opinions of the speakers as of the date of this podcast, and there is no guarantee that any opinions will prove to be accurate, or any forecasts made will come to pass. No obligation is undertaken to update any information, data, or material contained herein. This communication is not recommending the purchase, sale or hold of any security.This presentation and the information contained herein may not be reproduced, in whole or in part, in any format without AlphaCore’s express prior written consent.Certain information contained herein has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, AlphaCore does not assume any responsibility for the accuracy or completeness of the information, which is based on matters as they exist as of the date of this podcast and not as of any future date. Before embarking on any investment program, you should carefully consider the risks and suitability of a strategy based on your own investment objectives and financial position.

At the start of the year, markets were preparing for central banks to cut rates. Instead, the Fed, the European Central Bank, and the Bank of Japan are all raising them, and much of that reversal traces back to the war in Iran and the disruption of shipping through the Strait of Hormuz.Host David Stubbs is joined by Stephanie Flanders, Head of Economics and Government at Bloomberg, host of the Trumponomics podcast, and former BBC economics editor, to unpack how a single supply shock reshaped the outlook for inflation and interest rates, and why she believes the steady backdrop of the 2010s has given way to a world defined by recurring shocks from geopolitics and climate change. They also discuss the "many-lateral" alliances forming in place of old trade relationships, why AI's productivity gains may arrive more gradually than many expect, the uneasy status quo between the US and China, and the UK's tight fiscal position ahead of its budget. The conversation closes on a question more governments may soon face: how to fund public spending if AI erodes the labor-based tax revenue they depend on.Visit Us:  https://alphacore.com/ Stephanie Flanders at Bloomberg: https://www.bloomberg.com/ Trumponomics Podcast: https://www.bloomberg.com/stephanomics Disclaimer: This podcast is being provided for informational purposes only and does not constitute an offer or solicitation, and should not be considered tax, legal, or accounting advice. The information represents the current views and opinions of the speakers as of the date of this podcast, and there is no guarantee that any opinions will prove to be accurate, or any forecasts made will come to pass. No obligation is undertaken to update any information, data, or material contained herein. This communication is not recommending the purchase, sale or hold of any security.This presentation and the information contained herein may not be reproduced, in whole or in part, in any format without AlphaCore’s express prior written consent.Certain information contained herein has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, AlphaCore does not assume any responsibility for the accuracy or completeness of the information, which is based on matters as they exist as of the date of this podcast and not as of any future date. Before embarking on any investment program, you should carefully consider the risks and suitability of a strategy based on your own investment objectives and financial position.

Bond yields are climbing, headlines are warning of a bubble, and inflation fear is everywhere. Chris Watling, founder and chief market strategist of Longview Economics, sees a different story underneath it, an economy that's stronger and broader than the panic suggests, where rising yields track improving growth rather than looming crisis.Host David Stubbs sits down with Watling for a wide-ranging conversation on U.S. growth and the AI capex cycle, why he reads the current backdrop as a disinflationary boom, the corporate sector's unusual strength, and the historical framework from Charles Kindleberger for what actually ends a bull market. They also cover Europe and Japan, the dollar, gold versus industrial metals, and the hidden risks worth watching.Chris Watling's research is available at longvieweconomics.com. Learn more about AlphaCore Wealth Advisory at alphacore.com. Disclaimer: This podcast is being provided for informational purposes only and does not constitute an offer or solicitation, and should not be considered tax, legal, or accounting advice. The information represents the current views and opinions of the speakers as of the date of this podcast, and there is no guarantee that any opinions will prove to be accurate, or any forecasts made will come to pass. No obligation is undertaken to update any information, data, or material contained herein. This communication is not recommending the purchase, sale or hold of any security.This presentation and the information contained herein may not be reproduced, in whole or in part, in any format without AlphaCore’s express prior written consent.Certain information contained herein has been obtained from published and non-published sources prepared by third parties. While such information is believed to be reliable, AlphaCore does not assume any responsibility for the accuracy or completeness of the information, which is based on matters as they exist as of the date of this podcast and not as of any future date. Before embarking on any investment program, you should carefully consider the risks and suitability of a strategy based on your own investment objectives and financial position.