Talk Your Book: Equal Weight Investing

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 28 April 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Animal Spirits: Talk Your Book, ⁠Michael Batnick⁠ and ⁠Ben Carlson⁠ are joined by Nick Kalivas, Head of Factor & Core Equity Product Strategy at Invesco to discuss the research behind equal weighting, concentration within the S&P 500, looking at flows during the selloff in 2025, factor performance, and much more! Find complete show notes on our blogs... Ben Carlson’s ⁠A Wealth of Common Sense⁠ Michael Batnick’s ⁠The Irrelevant Investor⁠ Feel free to shoot us an email at ⁠[email protected]⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: ⁠https://www.idontshop.com⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See our disclosures here: ⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠ The Compound Media, Incorporated, an affiliate of ⁠Ritholtz Wealth Management⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠https://ritholtzwealth.com/advertising-disclaimers⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits is brought to you by Invesco. Go to Invesco.com to learn more about their
0:05.7	equal weight ETF RSP and many, many more ETFs. Invesco.com to learn more.
0:14.5	Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael
0:19.2	Batnik and Ben Carlson as they talk about what they're
0:21.8	reading, writing, and watching. All opinions expressed by Michael and Ben are solely their own opinion
0:27.0	and do not reflect the opinion of Ridholt's wealth management. This podcast is for informational
0:31.7	purposes only and should not be relied upon for any investment decisions. Clients of Ridholt's
0:36.8	wealth management may maintain
0:38.0	positions in the securities discussed in this podcast. Welcome to Annal Spirits with Michael and Ben.
0:45.9	On today's show, we're joined by Nick Kalevis, head of factor and core equity product
0:49.7	strategy. So I looked at this up while we were having our conversation, and RSP has been around since sometime in 2003, and it has outperformed the S&P 500 by roughly 60% in total over that time.
1:07.0	I never would have believed that.
1:08.0	I knew that it performed really well coming out of the crisis in the dot-com bubble
1:12.3	when all the value in small stocks did well.
1:15.6	No, it's actually more like, I don't know, 70% in total.
1:20.0	So even with the last seven years or so, so I guess the point is,
1:24.6	everyone wanted to throw factor strategies out the window.
1:29.5	But this one, even with the last cycle of mega caps dominating, has still held up really well. Yeah. That's surprising to me.
1:34.5	Big time surprise. I'll be interesting to see if the Mag 7 continues underperform how quickly people
1:41.0	will not push it aside, but at least be more open to these other strategies
1:45.5	like this.
1:46.6	This was a bit of a walk-down memory on this conversation, at least the low volatility part.
	...

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