Alpha Exchange

Jared Dillian joins Dean Kernut on Alpha Exchange to discuss No Worries: How to Live a Stress-Free Financial Life and why debt and risk create most financial stress.

Dean Curnutt discusses the unsustainable nature of historically low stock correlation in U.S.

Dean Kernut reflects on the GameStop saga five years later, discussing lessons learned and ongoing threats in financial markets.

Michael Green discusses how leveraged ETFs on MSTR create unique risks due to their size and the underlying asset's volatility, potentially amplifying market movements.

Victor Haghani discusses the risks and modeling of leveraged ETFs tied to MicroStrategy and Bitcoin.

David Puritz discusses convertible bond trading, risk, and liquidity, highlighting areas with little margin for error and the role of Bitcoin as a hedge against fiat currency risk.

["Rob Kaplan, Goldman Sachs vice chairman and former Dallas Fed president, says the Fed can move the policy rate but not control fiscal policy, regulation, or Treasury supply.", "He argues that demographics, deglobalization, Chinese overcapacity, and technology-enabled disruption helped keep inflation below 2% for years, then the 2020 fiscal-and-monetary response overheated the economy.", "Kaplan describes his lone 2020 dissent as a warning against committing to zero rates and bond buying while a massive fiscal impulse was already coming.", "The sharpest turns are his warnings on private credit, AI-driven disruption, and the long end of the Treasury curve, which he says now reacts more to supply and demand than to Fed cuts."]

Wayne Dahl of Oaktree Capital Management explains how convertible arbitrage taught him to measure simultaneous exposure to rates, credit, equity, financing, and stock borrowing.

Dean Curnutt reflects on the Alpha Exchange's 250 episodes, discussing his risk framework and plans for the platform's future.

Dean Kernutt discusses the risks of US government bonds and market disruption amid technological and geopolitical changes.

Kris Abdelmessih discusses option pricing, volatility regimes, and mental math shortcuts for traders, with a focus on commodity markets and financial education.

Zach Buchwald, chairman and CEO of Russell Investments, frames the firm around open-architecture portfolios, OCIO implementation, and retirement security across $370 billion in client assets.

Alberto Gallo says private credit is not paying enough for default, liquidity, or volatility risk.

On The Alpha Exchange, host Dean Kernutt talks with Michael Kontopoulos, Deputy CIO of Richard Bernstein Advisors, about portfolio construction amid extreme US equity concentration.