{"podcast":{"title":"Excess Returns","slug":"excess-returns-902655","podcast_index_feed_id":902655,"rss_url":"https://anchor.fm/s/9a1dfac/podcast/rss","website_url":"https://excessreturnspod.com","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/staging/podcast_uploaded_nologo/1516035/1516035-1743436234284-87994a171a4a2.jpg","author":"Excess Returns","episode_count":560,"summary":"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. 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Gen Z Is Betting on Sports. Will It All End the Same Way?","slug":"nvidia-is-betting-on-its-customers-gen-z-is-betting-on-sports-will-it-all-end-the-same-way","published_at":"2026-09-06T13:30:14+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/nvidia-is-betting-on-its-customers-gen-z-is-betting-on-sports-will-it-all-end-the-same-way","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/Nvidia-Is-Betting-on-Its-Customers--Gen-Z-Is-Betting-on-Sports--Will-It-All-End-the-Same-Way-e3odp33","duration_seconds":3342,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/nvidia-is-betting-on-its-customers-gen-z-is-betting-on-sports-will-it-all-end-the-same-way/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/nvidia-is-betting-on-its-customers-gen-z-is-betting-on-sports-will-it-all-end-the-same-way.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"Bearish Into November. 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Cheap Volatility. A Less Predictable Fed. Why Aren’t Markets More Worried?","slug":"sticky-inflation-cheap-volatility-a-less-predictable-fed-why-aren-t-markets-more-worried","published_at":"2026-08-31T21:49:33+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/sticky-inflation-cheap-volatility-a-less-predictable-fed-why-aren-t-markets-more-worried","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/Sticky-Inflation--Cheap-Volatility--A-Less-Predictable-Fed--Why-Arent-Markets-More-Worried-e3o5fgq","duration_seconds":3748,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/sticky-inflation-cheap-volatility-a-less-predictable-fed-why-aren-t-markets-more-worried/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/sticky-inflation-cheap-volatility-a-less-predictable-fed-why-aren-t-markets-more-worried.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"The Profits Come Now. The Costs Come Later. Kevin Muir on Whether AI Earnings Are the Bubble","slug":"the-profits-come-now-the-costs-come-later-kevin-muir-on-whether-ai-earnings-are-the-bubble","published_at":"2026-08-29T15:00:00+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/the-profits-come-now-the-costs-come-later-kevin-muir-on-whether-ai-earnings-are-the-bubble","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/The-Profits-Come-Now--The-Costs-Come-Later--Kevin-Muir-on-Whether-AI-Earnings-Are-the-Bubble-e3o23b8","duration_seconds":3886,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/the-profits-come-now-the-costs-come-later-kevin-muir-on-whether-ai-earnings-are-the-bubble/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/the-profits-come-now-the-costs-come-later-kevin-muir-on-whether-ai-earnings-are-the-bubble.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"Private Equity Chased Software. Big Tech Is Chasing AI. Dan Rasmussen on If They Are Making the Same Mistake Twice","slug":"private-equity-chased-software-big-tech-is-chasing-ai-dan-rasmussen-on-if-they-are-making-the-same-mistake-twice","published_at":"2026-08-28T01:07:25+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/private-equity-chased-software-big-tech-is-chasing-ai-dan-rasmussen-on-if-they-are-making-the-same-mistake-twice","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/Private-Equity-Chased-Software--Big-Tech-Is-Chasing-AI--Dan-Rasmussen-on-If-They-Are-Making-the-Same-Mistake-Twice-e3o0a33","duration_seconds":3438,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/private-equity-chased-software-big-tech-is-chasing-ai-dan-rasmussen-on-if-they-are-making-the-same-mistake-twice/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/private-equity-chased-software-big-tech-is-chasing-ai-dan-rasmussen-on-if-they-are-making-the-same-mistake-twice.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"Only 2.7% Beat the S&P for 20 Years | Ian Cassel on What Elite Stock Pickers Do Differently","slug":"only-2-7-beat-the-s-p-for-20-years-ian-cassel-on-what-elite-stock-pickers-do-differently","published_at":"2026-08-25T14:45:55+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/only-2-7-beat-the-s-p-for-20-years-ian-cassel-on-what-elite-stock-pickers-do-differently","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/Only-2-7-Beat-the-SP-for-20-Years--Ian-Cassel-on-What-Elite-Stock-Pickers-Do-Differently-e3nseud","duration_seconds":3630,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/only-2-7-beat-the-s-p-for-20-years-ian-cassel-on-what-elite-stock-pickers-do-differently/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/only-2-7-beat-the-s-p-for-20-years-ian-cassel-on-what-elite-stock-pickers-do-differently.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"The Rally is Broadening. The Earnings Growth Isn't. 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Rowe's $8 Billion Tech Manager Why We Are in 1998 — And Why Software Is in Trouble","slug":"we-asked-t-rowe-s-8-billion-tech-manager-why-we-are-in-1998-and-why-software-is-in-trouble","published_at":"2026-08-11T15:24:58+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/we-asked-t-rowe-s-8-billion-tech-manager-why-we-are-in-1998-and-why-software-is-in-trouble","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/We-Asked-T--Rowes-8-Billion-Tech-Manager-Why-We-Are-in-1998--And-Why-Software-Is-in-Trouble-e3n90mi","duration_seconds":3638,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/we-asked-t-rowe-s-8-billion-tech-manager-why-we-are-in-1998-and-why-software-is-in-trouble/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/we-asked-t-rowe-s-8-billion-tech-manager-why-we-are-in-1998-and-why-software-is-in-trouble.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"David Rosenberg and Rich Bernstein on What Ends the AI Trade — And What They Own Instead","slug":"david-rosenberg-and-rich-bernstein-on-what-ends-the-ai-trade-and-what-they-own-instead","published_at":"2026-08-08T09:00:00+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/david-rosenberg-and-rich-bernstein-on-what-ends-the-ai-trade-and-what-they-own-instead","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/David-Rosenberg-and-Rich-Bernstein-on-What-Ends-the-AI-Trade--And-What-They-Own-Instead-e3n4gls","duration_seconds":3812,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/david-rosenberg-and-rich-bernstein-on-what-ends-the-ai-trade-and-what-they-own-instead/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/david-rosenberg-and-rich-bernstein-on-what-ends-the-ai-trade-and-what-they-own-instead.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"4% Inflation. Stretched Valuations. Why Is the Market Still Risk-On? | Tian Yang","slug":"4-inflation-stretched-valuations-why-is-the-market-still-risk-on-tian-yang","published_at":"2026-08-06T14:43:40+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/4-inflation-stretched-valuations-why-is-the-market-still-risk-on-tian-yang","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/4-Inflation--Stretched-Valuations--Why-Is-the-Market-Still-Risk-On---Tian-Yang-e3n2fa0","duration_seconds":3575,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/4-inflation-stretched-valuations-why-is-the-market-still-risk-on-tian-yang/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/4-inflation-stretched-valuations-why-is-the-market-still-risk-on-tian-yang.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"The Biggest Leak in Finance | Brent Donnelly on Why You're Probably Too Bearish","slug":"the-biggest-leak-in-finance-brent-donnelly-on-why-you-re-probably-too-bearish","published_at":"2026-08-04T14:21:54+00:00","page_url":"https://stenobird.com/podcast/excess-returns-902655/the-biggest-leak-in-finance-brent-donnelly-on-why-you-re-probably-too-bearish","url":"https://podcasters.spotify.com/pod/show/excess-returns/episodes/The-Biggest-Leak-in-Finance--Brent-Donnelly-on-Why-Youre-Probably-Too-Bearish-e3mv837","duration_seconds":3702,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/excess-returns-902655/episodes/the-biggest-leak-in-finance-brent-donnelly-on-why-you-re-probably-too-bearish/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/excess-returns-902655/the-biggest-leak-in-finance-brent-donnelly-on-why-you-re-probably-too-bearish.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]},{"title":"A $20B Blowup. A War-Sized AI Bet. 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