About this episode

The episode discusses key investing insights from Adam Parker, Robert Hagstrom, and Eric Crittenden, focusing on market fundamentals, valuation, and modern portfolio theory.

This week’s Excess Returns Weekly Wrap breaks down the best investing insights from Adam Parker, Robert Hagstrom, and Eric Crittenden. We discuss why the market may still be trading on fundamentals, why valuation alone can fail as a stock-picking tool, how modern portfolio theory changed investing, what business-driven investors can learn from Warren Buffett, and why trend following may work by providing liquidity to hedgers. Topics covered: Why the stock market may be looking through today’s headlines to future earnings and AI-driven fundamentals Adam Parker’s argument that valuation does not work well as a standalone stock-picking signal Why estimate revisions, earnings beats, and gross margin changes may matter more than cheap P/E ratios Robert Hagstrom on Harry Markowitz, Benjamin Graham, and the debate over whether volatility is the same thing as risk How modern portfolio theory shaped active management, index funds, and the way investors think about diversification Warren Buffett’s casino and cathedral metaphor for separating stock prices from business ownership Eric Crittenden on why hedgers may willingly lose money on trades to reduce business risk and lower cost of…

People in this episode

Host: Excess Returns

Guests: Adam Parker, Robert Hagstrom, Eric Crittenden

Topics covered

• market fundamentals
• valuation in investing
• modern portfolio theory
• Warren Buffett insights
• trend following
• risk management
• stock picking strategies

Keywords

• investing insights
• stock market
• valuation
• portfolio theory
• trend following
• risk management
• Warren Buffett

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