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Recession concerns are mounting and fuel continues to be the hot topic around the globe.

With fear as the dominant emotion, moving the indices,

today's guest specializes in maximizing returns in volatile markets.

I'm Leslie Osman and joining us today is Michael Guyad.

He's a CFA Award Winning Portfolio Manager and publisher of the lead lag report.

Welcome Michael, it's great to have you.

Yeah, no, I appreciate it. Thank you.

You've said to kill it in the stock market, you have to not get killed.

I love that expression and the markets of investors are clearly getting crushed.

Because you specialize in tactical risk-on-risk-off investments, what's your go-to strategy in navigating the

market roller coaster ride? Well, so a couple things to, uh, to kill it in the stock

market, you have to not get killed on average. And unfortunately, alluding to your point,

the dilemma this year has been not that you've been getting killed

in the stock market, it's that you've been getting killed in the bond market,

right?

Because the drawdown in treasuries, which in my world is everything in terms of the

risk off safe haven play, has been in many ways larger than the drawdown in equities, right? So when you're in an environment, yes, it's true, you know, to kill in the stock market, you have to not get killed. The realities, you're kind of have plenty of times where the breaks don't seem to work and you're going to go through some kind of a big decline.

That's certainly been the case with my own strategies, but what I would say about

this environment is that this is very much an anomaly in the way that markets have interacted with each other in the way that volatility has

correlated across the board in most asset classes with the exception of commodities which we'll get into.

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