Monetary Matters with Jack Farley

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In this episode of "Monetary Matters," Jacob Pozharny, Co-Chief Investment Officer and Portfolio Manager at Bridgeway Capital Management, explains why traditional fundamental analysis often fails "new economy" stocks due to the rise of intangible assets like R&D and customer relationships. He details a bifurcated investment strategy that utilizes advanced sentiment analysis for high-tech sectors while maintaining a classic fundamental approach for "old economy" industries. The discussion highlights how the 2026 Iran war is currently creating significant market dislocations in global energy and shipping, offering unique "alpha hunting" opportunities identified through proprietary textual analysis of earnings calls. Pozharny argues that the most effective stock picking occurs in less efficient mid-cap and small-cap markets outside the U.S., where the potential return spread is significantly wider than in the S&P 500. Finally, he outlines his firm's market-neutral approach to building idiosyncratic return streams that remain uncorrelated to broader market direction by leveraging unique data such as buy-side borrow availability. Recorded April 16, 2026.

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Past performance is not indicative of future results. An investment should not be made based solely on returns. Before investing you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus. Please read the prospectus carefully before you invest which can be found on unlimitedetfs.com/HFGM.  Distributed by Foreside Fund Services, LLC

Monetary Matters is now streaming daily as part of Monitoring the Situation. Join us live on X and YouTube from 4 to 5 PM ET Monday through Friday @MTSituation for live interviews and analysis breaking down the market’s most important situations. This is recording of a recent live interview from MTS.

Jack Farley and Max Wiethe interview Jim Bianco of Bianco Research. The discussion covers Federal Reserve Chairman Jerome Powell's controversial decision to stay on after Kevin Warsh becomes Chairman. Bianco highlights the shift towards independent voting at the Fed, pointing to a recent dissents focused on easing bias language. Bianco also explores the economic impact of the continued blockage of the Strait of Hormuz and shares his market outlook, predicting elevated oil prices and trending higher interest rates.

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Timestamps:

00:00 Intro

00:10 Powell Stays Controversy

02:24 Fed Independence and Dissents

03:57 Investigation Deal Explained

09:04 Easing Bias Forward Guidance

13:55 Supreme Court and Fed Upheaval

19:20 Earnings and Market Reaction

21:47 Oil Shock and Inflation Debate

25:47 Warsh Era Fed Outlook

32:13 Strait of Hormuz War Fallout

39:11 Trades for a Protracted War

41:30 Wrap Up and Where to Follow

Monetary Matters is now streaming daily as part of Monitoring the Situation. Join us live on X and YouTube from 4 to 5 PM ET Monday through Friday @MTSlive for live interviews and analysis breaking down the market’s most important situations. This is recording of a recent live interview from MTS.

Hosts Jack Farley and Max Wiethe are joined by Moez Kassam, the Chief Investment Officer of Anson Funds. Moez breaks down his strategy for generating alpha by acting as a contrarian and fading the crowd during times of rampant market speculation.



In this episode, we cover:

• The SpaceX IPO Rumors: Moez discusses the potential mechanics of the largest expected IPO in history and the rumors of early investor unlocks. He also details the "Day 9" trading strategy surrounding Nasdaq index inclusion.

• The Massive Cannabis Opportunity: Learn why Anson Funds believes the U.S. cannabis sector could see a 400% move in a few years. Moez breaks down the DEA's descheduling process and the elimination of the restrictive 280E tax code.

• Software and Activism: Why the indiscriminate selling of software stocks has created a massive opportunity for free cash flow investors and activist campaigns.

• Navigating Emerging Tech: A candid assessment of AI, Space, and Quantum technologies. Moez explains why Quantum is facing a massive discount rate and why investors should be wary of the "me-too" space stocks.

• Crypto & Private Credit: Insights from the recent Trump Crypto Conference and why the extreme negative sentiment around private credit makes its 10-15% yields highly attractive.

Follow Moez Kassam on Instagram: @munchingmoez

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Timestamps:

00:00 Intro

02:10 SpaceX IPO Setup

05:49 Index Inclusion Trade

07:21 S-1 Filing Reality Check

08:32 Elon Rolls Up Businesses

12:12 Shorting Space Me Toos

13:35 AI, Space, Quantum Hype

16:18 Software Selloff and Activism

18:42 Cannabis Contrarian Bet

21:44 Descheduling Mechanics

24:30 AI & Semis: Crowded Trade?

26:10 Crypto Mood Shift

29:29 Media Activism Plays

31:16 Software Cash Flow vs Hype

34:49 Measuring Market Sentiment

37:51 Bitcoin Crowd Psychology

40:06 Shipping and Energy Contrarian

41:16 Canada: Gold & Oil Pulse

43:35 Process Over Predictions

45:50 Private Credit Negativity

46:34 Outro

This episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners

Kieran Cavanna, the founder and CIO of Old Farm Partners and former head of external managers at Soros Fund Management joins Other People’s Money to break down his high-conviction approach to thematic investing, explaining why "making the main thing the main thing" is the secret to capturing outsized returns in the public markets. From his time working under legendary macro investor Scott Bessent to his current focus at Old Farm Partners, Kieran shares how he identifies "asymmetric" opportunities where the upside is massive and the downside is protected. If you've ever wondered how the world’s most sophisticated allocators source managers and structure co-investments to beat the market, this is an interview you can't miss.

Listen to the Thematic Investors Podcast: https://www.youtube.com/playlist?list=PLTSvmgAOiFVttgxmUaO4hSgMxutOwyS9T

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Timestamps:

00:00 Intro

01:17 Soros External Managers

03:36 What Makes Great Managers

07:01 Spotting Skill Vs Luck

08:47 Risk Management

12:37 Geography and Benchmarks

15:21 Style Drift and Communication

18:57 Fees and Multi Strat Debate

22:30 Spinouts and Independence

26:47 Co-Investing in Public Markets

30:06 Allocator Base and Drawdown Focus

31:12 Family Office Allocators

32:13 Private Credit Shift

36:57 Big Launches Small Wins

38:40 AI CapEx Main Event

41:26 Defense Tech Next Theme

42:44 Asymmetry Not Binary

44:51 Cross Sector Blind Spots

49:51 Crowded Trades Unwind

52:58 Macro Themes Bottom Up

57:37 Risks and Hedging

59:42 Thematic Investors Podcast

This episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners

 

Matthew Bloomfield, President of Palmer Square Capital BDC, joins Jack to discuss structured credit markets. With fears rising over private credit defaults, it is important to listen to voices like Matthew. Matthew dives deep into the nuances of business development companies (BDCs), collateralized loan obligations, A.I. disruption, and private credit. He brings with him years of domain specific expertise on credit markets and is an incredible resource for those looking to become more acquainted with the minutiae of the credit industry. Recorded on April 14th, 2026.

 

Follow Jack Farley on Twitter https://x.com/jackfarley96

Follow Matthew Bloomfield on LinkedIn https://www.linkedin.com/in/matt-bloomfield-66433932/

 

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