About this episode

Travis Prentice discusses how structural shifts in the market are affecting investment strategies and perceptions of risk.

This episode explores how massive structural shifts—AI, deglobalization, and the rise of passive investing—are reshaping markets and what that means for investors. Informed Momentum Company CIO Travis Prentice breaks down why 52 week highs don't mean what you think, the extreme dispersion beneath the surface of the market, why traditional definitions of risk may be flawed, and how investors should think about momentum, quality, and diversification in a rapidly changing environment. Papers and Resources Discussed: Risks Hiding in Plain Sight https://www.informedmomentum.com/risks-hiding-in-plain-sight-how-the-dominance-of-passive-investing-is-reshaping-market-risk/ Is Quality Broken? https://www.informedmomentum.com/is-quality-broken-ai-driven-disruption-is-testing-standard-definitions-of-quality/ Buy High, Sell Higher https://www.informedmomentum.com/buy-high-sell-higher/ Topics Covered: The hidden divergence beneath index performance and why the market isn’t as stable as it looks Why value and momentum are working together—and what that signals about market broadening How AI and deglobalization are driving a major regime shift in markets Why momentum investors ignore narratives…

People in this episode

Guest: Travis Prentice

Topics covered

• market structure shifts
• passive investing risks
• momentum investing
• AI impact on markets
• deglobalization effects
• 52-week highs analysis

Mentioned in this episode

Organizations: Informed Momentum Company, Informed Momentum

Books & works: Risks Hiding in Plain Sight, Is Quality Broken?, Buy High, Sell Higher

More episodes of Excess Returns

• Feeling Safe Is the Risk | Chris Davis on Finding Durable Companies in a Disrupted World · April 27, 2026 · 1h 3m
• The Secular Plateau | Chris Bloomstran on Why We May Be at Peak Valuations · April 22, 2026 · 1h 9m
• We Asked David Rosenberg Why He Owns Almost No US Stocks — and What He Holds Instead · April 19, 2026 · 1h 5m
• The Resilience No One Trusts | Brent Donnelly on Why War and Oil Haven’t Broken This Market · April 17, 2026 · 1h 5m
• The Bear Market No One Sees | Liz Ann Sonders on the Real Story Indexes Hide · April 15, 2026 · 1h 5m
• The Forever Invariable Truth | Jim Grant on War, Inflation, and What Comes Next · April 13, 2026 · 1h 3m

Explore listener stats, chart rankings, contacts and more on the Excess Returns podcast page.