Excess Returns

Excess Returns is dedicated to making you a better long-term investor and making complex investing topics understandable. Join Jack Forehand, Justin Carbonneau and Matt Zeigler as they sit down with some of the most interesting names in finance to discuss topics like macroeconomics, value investing, factor investing, and more. Subscribe to learn along with us.

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Most frequent guests

Jim Paulsen 14 episodes
Andy Constan 12 episodes
Mike Green 10 episodes
Brent Kochuba 10 episodes
Ben Hunt 9 episodes
Cullen Roche 9 episodes
Kai Wu 9 episodes
Tobias Carlisle 9 episodes
Chris Mayer 8 episodes
Rob Arnott 8 episodes

Every guest on Excess Returns

212 guests, ranked by how many people never want them back.

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Nick Maggiulli
64% Never Escape Level Four | Nick Maggiulli on Climbing the Wealth Ladder · Aug 2025

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Andrew Chen
Challenging the Foundation of Asset Pricing Theory with Andrew Chen and Alejandro Lopez-Lira · Feb 2024

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Jim O'Shaughnessy
From Quant Investing to Venture Capital with Jim O'Shaughnessy · 2 episodes

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Aswath Damodaran
The Trillion Dollar Gap | Aswath Damodaran on SpaceX, AI and the Big Market Delusion · 4 episodes

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Ben Hunt
The Fed Credibility Narrative Has Turned | Ben Hunt on AI, the Consumer and Financial Repression · 9 episodes

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Bob Elliott
Nothing Is Priced In | Bob Elliott on Why Investors Are Misreading the Oil Shock · 6 episodes

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Chris Bloomstran
The Secular Plateau | Chris Bloomstran on Why We May Be at Peak Valuations · Apr 2026

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Cliff Asness
Cliff Asness on Bubbles, Private Equity and His Research Greatest Hits · 3 episodes

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D.A. Wallach
They Call It a Lottery Ticket. The Data Says Otherwise | D.A. Wallach on The Hidden Alpha of Biotech · Mar 2026

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Dan Rasmussen
Private Equity Chased Software. Big Tech Is Chasing AI. Dan Rasmussen on If They Are Making the Same Mistake Twice · 4 episodes

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David Gardner
Motley Fool Founder David Gardner on Finding Rule Breaking Growth Stocks · Feb 2022

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Ian Cassel
Only 2.7% Beat the S&P for 20 Years | Ian Cassel on What Elite Stock Pickers Do Differently · 2 episodes

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Jenny Johnson
Franklin Templeton CEO Jenny Johnson on AI, Private Markets, and the Hidden Risks in Index Funds · Sep 2026

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Jeremy Grantham
Jeremy Grantham on AI, Bubbles and Why Mean Reversion Lives On · May 2026

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Leigh Drogen
Momentum is Everything | Leigh Drogen on Building Lasting Strategies in Crypto · Aug 2025

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Marko Papic
What Investors Need to Know About Geopolitics with Marko Papic · Dec 2022

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Meb Faber
We Asked Meb Faber Why US Stocks Won for 250 Years — And If It Can Continue · 4 episodes

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Michael Mauboussin
Michael Mauboussin | AI, Base Rates, and Investing in the New Economy · 3 episodes

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Wes Gray
Even God Would Be Fired | Wes Gray on Bubbles, AI Valuations and Why Size Was Never the Edge · 5 episodes

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Barry Ritholtz
Money Delusions: Barry Ritholtz on the Elusive Definition of Money and How Not to Invest It · Mar 2025

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Chris Davis
Feeling Safe Is the Risk | Chris Davis on Finding Durable Companies in a Disrupted World · 2 episodes

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Guy Spier
Enduring Investing and Life Lessons with Guy Spier · Apr 2023

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Jack Raines
He Lost $157,000 in 3 Minutes | Jack Raines on the Lesson Winning Never Taught Him · Sep 2026

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Liz Ann Sonders
The Rally is Broadening. The Earnings Growth Isn't. Liz Ann Sonders on Which Breaks First · 5 episodes

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Mike Green
Mike Green on What Happens When Passive Flows Meet the Largest IPO in History · 10 episodes

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Ben Carlson
He Studied Every Bear Market Since 1929 | Ben Carlson on How the Worst Starting Point Still Made 8% · 4 episodes

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Jeff Chang
An Inside Look at Buffer ETFs with Jeff Chang · Aug 2025

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Michael Batnick

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Brent Donnelly
The Biggest Leak in Finance | Brent Donnelly on Why You're Probably Too Bearish · 4 episodes

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Corey Hoffstein
Corey Hoffstein and Ben Hunt | PNL For a Purpose · 5 episodes

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Cullen Roche
Most Portfolios Are Built Backwards | Cullen Roche on Building Your Perfect Portfolio · 9 episodes

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Daryl Fairweather
The Crash That Won’t Come | Redfin Chief Economist Daryl Fairweather on the Great Housing Reset · 2 episodes

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Ed Yardeni
He Was Overweight Tech for 15 Years. He Just Downgraded the Mag Seven | Ed Yardeni Explains Why · 2 episodes

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Harley Bassman
Talking Convexity, Interest Rates and the Future of Inflation with Harley Bassman · Nov 2022

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Jim Grant
The Forever Invariable Truth | Jim Grant on War, Inflation, and What Comes Next · 2 episodes

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John Alberg
Applying Machine Learning to Value Investing with Euclidean’s John Alberg · Apr 2022

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Kris Sidial
The Retail Rally Trap | Kris Sidial on Market Fragility and the Risks of Buy the Dip · 2 episodes

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Peter Atwater
Blind to Power: The Hidden Investing Risk of Rising Strongmen | Peter Atwater · Jun 2025

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Sam Ro
Sold At "Irrational Exuberance". Still Lost Money | Sam Ro on the Bubble Paradox · 2 episodes

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Victor Haghani
99.9% Focus on the Wrong Question | Victor Haghani on Why Static Allocation Fails · Nov 2025

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