Leadership, Storytelling & Investing: Insights from Sébastien Page, CFA
Sébastien Page, CFA, Head of Global Multi-Asset and CIO at T. Rowe Price, joins the FTE Podcast to explore the intersection of leadership psychology and investment strategy. Drawing from his books Beyond Diversification and The Psychology of Leadership, Page shares how storytelling enhances financial education, the importance of resilience in investing, and how personality traits like openness and agreeableness shape portfolio management. He also reflects on goal-induced blindness, the underrated skill of quitting, and the deeper meaning behind active management. A must-listen for finance professionals and aspiring leaders.
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Custom Indexing, Tax Efficiency & Factor Investing with Ehren Stanhope, CFA
Ehren Stanhope, CFA of O'Shaughnessy Asset Management explains how custom indexing builds on direct indexing by integrating tax loss harvesting, ESG preferences, and quantitative equity factors. He discusses how platforms like Canvas enable personalized portfolio construction while maintaining benchmark alignment. Stanhope also shares insights on the implications of rising interest rates, inflation, and changing asset correlations for long-term investment strategy and risk management.
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25:03
Marlena Lee on Factor Investing, Market Insights, and Smarter Diversification
Marlena Lee, Global Head of Investment Solutions at Dimensional Fund Advisors, explains how her team bridges investment research with client needs through systematic, evidence-based approaches. Rather than chasing short-term market moves or stock-picking, Dimensional builds portfolios grounded in decades of academic research and practical data analysis. Lee highlights how the firm evaluates traditional factors—such as size, value, and profitability—while carefully testing new ideas to avoid data-mined results. She underscores the importance of looking beyond simple measures like correlations or Sharpe ratios, encouraging investors to dig deeper into underlying holdings, factor overlaps, and global perspectives. From the challenges of timing premiums to the distortions caused by mega-cap stocks, Lee emphasizes the value of strategic, long-term allocations over tactical shifts. Her remarks offer clarity on what true diversification means and how investors can navigate trade-offs between tracking error and long-term outperformance.
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Decoding Investor Behavior and Avoiding Mistakes with Peter Lazaroff
Welcome to the Financial Thought Exchange, where we bring you insights from the brightest minds in finance! In this episode, recorded live from the CFA Institute Annual Conference in Chicago, we are honored to sit down with Peter Lazaroff. Peter is the author of "Making Money Simple" and the Chief Investment Officer at Plancorp Wealth Management, overseeing $7 billion in AUM. He is also the host of the fantastic "Long Term Investor" podcast. In this deep dive, Peter shares his key takeaways from a panel on decoding investor behavior. We discuss how behavioral finance goes beyond just identifying biases, moving towards strategies that truly help clients feel more confident and content with their financial decisions. We cover: The evolution of behavioral finance and its practical application in wealth management. How to tailor financial education across different generations, from Baby Boomers to Millennials. The distinct approaches to advice for inherited vs. self-made wealth, and why empathy is crucial. Peter's firm's philosophy of avoiding mistakes over chasing perfect returns, and the biggest "mistake" he focuses on mitigating: setting the wrong expectations. The role of risk aversion in portfolio design and how Plancorp customizes strategies based on a client's stock/bond split and liquidity profile. Why, despite advancements in behavioral finance, human errors will persist, and how technology might assist without replacing the essential human connection in financial advice. Join us for a candid and insightful conversation that will change how you think about client relationships and investment strategy!
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Energy and Tech Expert Mark Mills Reflects on AI and the Next Industrial Revolution
In this podcast episode, Mark Mills, a physicist, energy expert, and "tech guru," argues that the hype around AI is justified but misunderstood, emphasizing its roots in statistical inference (which is not what humans do when they think). He explains that AI's strength lies in handling fuzzy, human-like tasks, unlike traditional computing's whiz-bang ability to calculate. This making AI transformative for automation. Mills addresses concerns about AI displacing jobs, noting that automation historically eliminates some roles but creates others, with 60% of 1960s job categories gone by 2020, yet employment and wages rose. He predicts AI, combined with advancements in materials and machines, will drive a massive productivity boom over the very long run, akin to previous industrial revolutions like the 1920s. He notes that the universe is made up of only three things—matter, energy, and information—and that all three are undergoing simultaneous revolutions, a historically rare event.
The Financial Thought Exchange Podcast offers listeners invaluable insights from top financial thought leaders across various sectors. Whether you're a financial analyst, investor, or simply interested in the "inside baseball" of the financial world, this podcast provides access to some of the most influential people shaping the industry.
Brought to you by the CFA Institute Research Foundation, the Financial Thought Exchange is your go-to resource for staying informed and gaining a deeper understanding of the finance industry's most pressing topics. Tune in for interviews with industry pioneers, expert analyses, and actionable insights you can apply in your own financial journey.
Financial Thought Exchange is the official podcast and video channel of the CFA Institute Research Foundation.
Check out our peer-reviewed research here: https://rpc.cfainstitute.org/en/research
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