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Lead-Lag Live
Michael A. Gayed, CFA
863 episodes
6 days ago
In this episode of Lead-Lag Live, host Melanie Schaffer sits down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to unpack the market’s next chapter. From AI valuations and small-cap opportunities to rate cuts and dividend ETFs, Jay breaks down where he’s seeing risk and reward as we head into 2025 and 2026. Topics covered: • AI and the “Magnificent 8” valuations • The Fed’s next moves and rate outlook • Why small caps and value may shine in 2026 • Dividend income ideas: ICAP, SC...
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Investing
Education,
Business
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All content for Lead-Lag Live is the property of Michael A. Gayed, CFA and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
In this episode of Lead-Lag Live, host Melanie Schaffer sits down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to unpack the market’s next chapter. From AI valuations and small-cap opportunities to rate cuts and dividend ETFs, Jay breaks down where he’s seeing risk and reward as we head into 2025 and 2026. Topics covered: • AI and the “Magnificent 8” valuations • The Fed’s next moves and rate outlook • Why small caps and value may shine in 2026 • Dividend income ideas: ICAP, SC...
Show more...
Investing
Education,
Business
Episodes (20/863)
Lead-Lag Live
AI Boom or Bubble? Jay Hatfield on What’s Next for Stocks, Small Caps & The Fed
In this episode of Lead-Lag Live, host Melanie Schaffer sits down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to unpack the market’s next chapter. From AI valuations and small-cap opportunities to rate cuts and dividend ETFs, Jay breaks down where he’s seeing risk and reward as we head into 2025 and 2026. Topics covered: • AI and the “Magnificent 8” valuations • The Fed’s next moves and rate outlook • Why small caps and value may shine in 2026 • Dividend income ideas: ICAP, SC...
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6 days ago
16 minutes

Lead-Lag Live
Falling Rates, Rising Uncertainty: Investors Chase Higher Yields
In this exclusive conversation, Michael Gayed, founder of The Lead-Lag Report, sits down with Will Rhind, CEO of GraniteShares, to discuss the booming demand for options-based income ETFs like YieldBoost — funds generating 50% to 150% annual yields through innovative option strategies. They unpack: - Why rates are headed lower (and what it means for investors) - How YieldBoost ETFs work and generate high income - The truth about NAV erosion and downside protection - What a diversified income...
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1 week ago
33 minutes

Lead-Lag Live
Lift Up Your Future: Seth Cogswell on Starting Early, Discipline, and Building Wealth That Lasts
In this special Take Your Kid to Work Day edition of Lead-Lag Live, Grade 9 student Ezra Briski steps in as host to explore this year’s theme: Lift Up Your Future — how the choices we make today shape the opportunities we have tomorrow. Ezra sits down with Seth Cogswell, Founder and Managing Partner at Running Oak Capital, to discuss why starting early with money and investing can change your entire life’s trajectory. In this episode, Seth shares: – Why compounding is like a superpower for pe...
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1 week ago
11 minutes

Lead-Lag Live
Why the Fed Will Be Forced to Cut | Jay Hatfield’s 2025 Market Outlook
In this exclusive webinar hosted by Michael Gayed of Lead-Lag Media, Jay Hatfield from Infrastructure Capital shares his market outlook for 2025 — including why he believes the Fed will have to cut rates, why housing hasn’t crashed, and why the next market move could surprise to the upside. Jay breaks down: Why the Fed has caused nearly every post-WWII recessionHow inflation is finally cooling (and why CPI is misleading)The real reason the U.S. avoided a recession in 2024His S&P 500 targe...
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1 week ago
40 minutes

Lead-Lag Live
Fear and Fundamentals: Brad Barrie on Global Macro, Diversification, and the Market’s Next Big Test
In this episode of Lead-Lag Live, I sit down with Brad Barrie, Co-Founder, Managing Director, and Chief Investment Officer at Dynamic Wealth Group, to unpack how global-macro investing helps investors prepare for uncertainty — not predict it. From his Halloween-candy analogy on diversification to the risks hiding behind record valuations, Brad explains why hope isn’t a strategy, why true diversification means non-correlation, and how the Dynamic Alpha Macro Fund aims to thrive when others pan...
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1 week ago
17 minutes

Lead-Lag Live
Weekly Paychecks from Tesla? Will Rhind on High-Yield ETFs and the Next Evolution in Income
In this episode of Lead-Lag Live, I sit down with Will Rhind, Founder and CEO of GraniteShares, to discuss how the firm’s YieldBoost lineup is rewriting the rules of income investing. From Tesla to Coinbase, GraniteShares has built a new category of weekly-paying ETFs that deliver institutional-style yield strategies to everyday investors — no options experience required. Will explains how the structure works, why investor demand has exploded, and what’s next for the YieldBoost lineup. In thi...
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2 weeks ago
7 minutes

Lead-Lag Live
Faith vs Frenzy: Fr. Emmanuel Lemelson on Gold Mania, AI Hype, and the Morality of Markets
In this episode of Lead-Lag Live, I sit down with Father Emmanuel Lemelson, activist investor and Orthodox priest, to discuss the intersection of faith, finance, and speculation in an era of market excess. From calling tops in gold and silver to exposing fraud on Wall Street, Fr. Emmanuel argues that modern markets have become spiritually and ethically unmoored — a “Wild West” driven by greed, memes, and misplaced faith in AI. He shares his candid views on what true stewardship means, why hoa...
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2 weeks ago
35 minutes

Lead-Lag Live
The Fed Got It Right (for the Wrong Reasons): Jay Hatfield on Rate Cuts, AI, and the Risk of a Boom
In this episode of Lead-Lag Live, I sit down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to discuss why he believes the Fed’s latest dovish pivot was inevitable — and what it means for investors heading into 2025. From housing to money supply and the AI-driven growth cycle, Hatfield breaks down the data points that actually matter — and why he sees zero risk of recession, but a real chance of an economic boom. In this episode: – Why the Fed’s “weak labor market” narrative hides...
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3 weeks ago
18 minutes

Lead-Lag Live
Fantasy vs Fundamentals: Seth Cogswell on Bubbles, Passive Flows, and What Breaks Next
In this episode of Lead-Lag Live, I sit down with Seth Cogswell, Managing Partner at Running Oak Capital, to unpack the strange market dynamic where low-quality, high-debt companies are outperforming — and why that may be setting up one of the biggest long-term buying opportunities in years. From zombie stocks to the passive investing paradox, Seth breaks down why common-sense investing has vanished from today’s markets — and how his “buy low, sell high” discipline at Running Oak is bringing ...
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3 weeks ago
26 minutes

Lead-Lag Live
Webinar: Exploring the Cambria US Equal Weight ETF (USEW): Diversifying Beyond Market Cap
Tired of choosing between concentration risk and a painful tax bill? Michael sits down with Med Faber from Cambria Investment Management. We break down a smarter option: using a 351 ETF exchange to convert appreciated, concentrated stock positions into a diversified ETF without triggering taxes. Think of it like a 1031 for public equities—contribute eligible positions at launch, receive ETF shares in return, and let the portfolio rebalance inside the tax-efficient ETF wrapper. We walk throug...
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4 weeks ago
29 minutes

Lead-Lag Live
Income Without Limits: Jonathan Shelon on KLIP, Covered Calls, and Monthly Payouts That Work
In this episode of Lead-Lag Live, I sit down with Jonathan Shelon, Chief Operating Officer at KraneShares, to unpack how the firm’s KLIP ETF delivers monthly income and international diversification — without giving up growth. With covered call strategies back in focus, Jonathan explains why China’s tech sector provides more volatility (and therefore more income potential) than traditional U.S. covered call ETFs, and how advisors are blending KLIP with core equity or income portfolios. In thi...
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4 weeks ago
16 minutes

Lead-Lag Live
The $1,000 Revolution: Sam Nofzinger on Direct Indexing, Taxes, and the Future of Investing
In this episode of Lead-Lag Live, I sit down with Sam Nofsinger, General Manager of Brokerage at Public, to discuss how the company’s new direct indexing feature is bringing institutional investing tools to everyday investors. For the first time, investors can build their own index, own every underlying stock, and optimize for taxes with just $1,000 minimum. Sam explains how fractional shares, automation, and tax-loss harvesting are transforming what used to be a high-net-worth strategy into ...
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1 month ago
17 minutes

Lead-Lag Live
Is the Fed about to start cutting rates — and what does that mean for your portfolio?
In this Lead Lag Live webinar, Michael Gayed sits down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to break down the current macro landscape, why inflation fears may be overblown, and where the biggest investment opportunities lie as we enter a new market phase. Topics Covered: Why small caps could surge as rate cuts begin The truth about inflation, the BLS data lag, and money supply Outlook for the bond market, preferreds, and high-yield credit How active management can o...
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1 month ago
42 minutes

Lead-Lag Live
Energy, Income, and AI: Jay Hatfield on the Fed, Housing, and Where the Real Growth Is Now
In this episode of Lead-Lag Live, I sit down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to cut through the noise on the Fed, energy markets, and how investors can prepare for the next phase of the cycle. From the AI-driven power boom to small-cap rotation and bond opportunities, Jay shares why the Fed’s reliance on lagging data could be investors’ biggest advantage — and where long-term value is hiding in plain sight. In this episode: – Why the AI build-out could make natural ...
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1 month ago
17 minutes

Lead-Lag Live
Beyond Buy and Hold: Si Katara on Zero-Day Options, Income Innovation & the Future of ETFs
In this episode of Lead-Lag Live, I sit down with Si Katara, Founder and CEO of Tap Alpha, to explore how zero-day options are reshaping income investing for everyday investors. From engineering background to ETF innovation, Katara shares how Tap Alpha’s TSPY ETF delivers daily option overlays on the S&P 500 — capturing upside while generating consistent, tax-efficient income in any market environment. In this episode: – Why traditional income products no longer work for investors today –...
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1 month ago
17 minutes

Lead-Lag Live
Fragile Foundations: Ross Atefi on AI Euphoria, Market Concentration & the $500K Tax Trap
In this episode of Lead-Lag Live, I sit down with Ross Atefi, Founder and Wealth Advisor at Yatra Wealth Design, to break down why he believes the market is more fragile than headlines suggest. From AI mania to the quiet collapse in housing and jobs data, Ross explains how extreme concentration and stretched valuations have set up an environment that echoes the late ’90s bubble — and what investors need to watch next. In this episode: – Why the S&P 500’s “diversification” is a dangerous i...
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1 month ago
22 minutes

Lead-Lag Live
Beyond the Hype: Derek Yan on the AI Build-Out, Private Access, and Where the Real Opportunity Lies
In this episode of Lead-Lag Live, I sit down with Derek Yan, CFA and Senior Investment Strategist at KraneShares, to cut through the noise surrounding the AI “bubble” narrative and unpack where the true opportunity still lies. From infrastructure shortages and the rise of reasoning models to the challenge of accessing private AI leaders, Derek shares why the current cycle is still in its infancy and how investors can capture the next phase of growth. In this episode: – Why AI demand is outpac...
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1 month ago
22 minutes

Lead-Lag Live
California at a Crossroads: Ethan Penner on Gavin Newsom, Trump, Reform, and Rebuilding the State
In this episode of Lead-Lag Live, I sit down with Ethan Penner — independent candidate for California governor and a trailblazer in U.S. commercial real-estate finance — to break down what he calls the “collapse of competent governance” in California. From a radical tax overhaul to fixing housing and energy costs, Penner outlines how he’d reverse decades of political decay — and why he believes Gavin Newsom’s policies have left the state weaker, poorer, and more divided. In this episode: – Wh...
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1 month ago
28 minutes

Lead-Lag Live
AI Today: From Chatbots to Humanoid Robots – Investing in the Full Stack
Imagine the internet’s 20-year curve compressed into a few years: costs plummet, capabilities skyrocket, and adoption leaps from novelty to necessity. That’s where AI stands today. In this episode, we go deep into the evolution of reasoning models—how chatbots are transforming into agents that plan, code, and act across real workflows. Then, we explore the next frontier: physical AI, humanoid robots designed to operate in human spaces, where the “final mile” of automation requires hands, bala...
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1 month ago
52 minutes

Lead-Lag Live
Mastering Options Basics — Long vs. Short, Covered Calls, and Zero DTE Risks | Live Webinar
Join me as I sit down with Greg Jensen, Founder of OptionsAnimal, and Eric Hale, Founder of Trader Oasis, to break down the foundations of smart options trading. After our last deep dive into the collar strategy, we’re going back to basics to answer the biggest questions every trader faces. Greg and Eric explain when it’s appropriate to buy long options, why naked calls are among the riskiest trades you can make, and how to think through strategies like short puts vs. covered calls. They also...
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1 month ago
34 minutes

Lead-Lag Live
In this episode of Lead-Lag Live, host Melanie Schaffer sits down with Jay Hatfield, CEO of Infrastructure Capital Advisors, to unpack the market’s next chapter. From AI valuations and small-cap opportunities to rate cuts and dividend ETFs, Jay breaks down where he’s seeing risk and reward as we head into 2025 and 2026. Topics covered: • AI and the “Magnificent 8” valuations • The Fed’s next moves and rate outlook • Why small caps and value may shine in 2026 • Dividend income ideas: ICAP, SC...