Capital Horizons - The Podcast

Most of what we’re taught about investor behaviour is wrong, according to Arun Muralidhar.In the latest Capital Horizons episode, Arun Muralidhar (founder of MCube Technologies, former World Bank pension fund manager) shares multi-country survey evidence covering ~40% of the world’s population: fewer than 5% of people match the classic “risk-averse” assumptions of expected utility theory - and almost none fit Kahneman & Tversky’s prospect theory either.Arun believes that the practical consequences are huge: $5 trillion has poured into US target-date funds (and similar products are being pushed globally by the OECD and others) on the untested idea that people automatically become more risk-averse with age. They don’t. Preferences change with life events, and the products ignore actual goals such as target retirement income.Arun and I dig into:• Why liability-centric, dynamic approaches beat static glide paths• How institutional investors (public pensions, endowments) often do the opposite of what the textbooks prescribe• What a better default pension solution would look likeEssential viewing for anyone designing, managing, regulating, or investing in retirement products.

After interviewing the greatest traders in the world for over 40 years, Jack Schwager knows what separates winners from everyone else.In this Capital Horizons interview, the author of Market Wizards shares the timeless habits, risk principles, and psychological edge behind exceptional trading performance—including why most people never reach the top, why money eventually stops being the goal, and how elite traders survive inevitable losses.If you're serious about investing or trading, this conversation is essential viewing.

Igor Yelnik sat down with Joy (Zhuoying) Xu, Senior Investment Director at Verizon Investment Management, to discuss how her team manages a ~$50B portfolio - with a deep dive into their highly effective Global Tactical Asset Allocation (GTAA) overlay.Joy shares practical insights on blending quantitative models (valuation, momentum, sentiment, liquidity) with qualitative judgment, delivering consistent alpha while excelling in crisis risk management.A must-watch for institutional investors, pension professionals, and anyone interested in resilient portfolio construction.Host: Igor YelnikGuest Speaker: Joy XuYoutube: @capitalHorizonsPodcastX: @CHthepodcastInstagram: @capitalhorizonspodcastFacebook: @capitalhorizonspodcastSpotify: capital-horizons-podcastApple Podcasts: id1733764075Amazon Music: capital-horizons---the-podcastThe information or opinions in this podcast do not constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any fund or investment programme described in this podcast; nor shall this podcast, or any part of it, or the fact its distribution form the basis of, or be relied on, in connection with any contract. Viewers of this podcast are reminded that any purchase or subscription to any investment programme or vehicle may only be made solely on the basis of information contained in a formal offering document, describing, among other things, the risks associated with such investment programme or vehicle, which may be different from information in this podcast. No representation or warranty, express or implied, is made or given by or on behalf of Alphidence Capital Ltd or any other person as to the accuracy, completeness or fairness of the information or opinions contained herein, and no responsibility or liability is accepted for any such information. Any statements made in this podcast are the participants' opinions, which have been based upon publicly available facts, information and analysis and are not statements of fact. The statements expressed in this podcast are correct as of the date of this podcast and are subject to change without notice. The podcast is not intended to provide and should not be relied upon as an investment recommendation or financial, legal or tax advice.

In this episode of Capital Horizons, Igor Yelnik and Jason Hsu engage in a lively and insightful conversation on investing in emerging markets.They explore a wide range of critical topics, including navigating geopolitical risks, dealing with poor data quality, balancing short-term versus long-term forecasting, the demographic challenges shaping China’s future, investing in AI despite bubble concerns, and the importance of rule of law and operational costs in emerging market decisions.Host: Igor YelnikGuest Speaker: Jason HsuYoutube: @capitalHorizonsPodcastX: @CHthepodcastInstagram: @capitalhorizonspodcastFacebook: @capitalhorizonspodcastSpotify: capital-horizons-podcastApple Podcasts: id1733764075Amazon Music: capital-horizons---the-podcastThe information or opinions in this podcast do not constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any fund or investment programme described in this podcast; nor shall this podcast, or any part of it, or the fact its distribution form the basis of, or be relied on, in connection with any contract. Viewers of this podcast are reminded that any purchase or subscription to any investment programme or vehicle may only be made solely on the basis of information contained in a formal offering document, describing, among other things, the risks associated with such investment programme or vehicle, which may be different from information in this podcast. No representation or warranty, express or implied, is made or given by or on behalf of Alphidence Capital Ltd or any other person as to the accuracy, completeness or fairness of the information or opinions contained herein, and no responsibility or liability is accepted for any such information. Any statements made in this podcast are the participants' opinions, which have been based upon publicly available facts, information and analysis and are not statements of fact. The statements expressed in this podcast are correct as of the date of this podcast and are subject to change without notice. The podcast is not intended to provide and should not be relied upon as an investment recommendation or financial, legal or tax advice.

Rob Carver shares his expertise on trading futures strategies, joining Igor Yelnik to dive into both high-level concepts and technical execution. They explore various signal types, portfolio construction, and backtesting methodologies, while offering practical insights into managing trading costs and more.Host: Igor YelnikGuest Speaker: Robert CarverYoutube: @capitalHorizonsPodcastX: @CHthepodcastInstagram: @capitalhorizonspodcastFacebook: @capitalhorizonspodcastSpotify: capital-horizons-podcastApple Podcasts: id1733764075Amazon Music: capital-horizons---the-podcastThe information or opinions in this podcast do not constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any fund or investment programme described in this podcast; nor shall this podcast, or any part of it, or the fact its distribution form the basis of, or be relied on, in connection with any contract. Viewers of this podcast are reminded that any purchase or subscription to any investment programme or vehicle may only be made solely on the basis of information contained in a formal offering document, describing, among other things, the risks associated with such investment programme or vehicle, which may be different from information in this podcast. No representation or warranty, express or implied, is made or given by or on behalf of Alphidence Capital Ltd or any other person as to the accuracy, completeness or fairness of the information or opinions contained herein, and no responsibility or liability is accepted for any such information. Any statements made in this podcast are the participants' opinions, which have been based upon publicly available facts, information and analysis and are not statements of fact. The statements expressed in this podcast are correct as of the date of this podcast and are subject to change without notice. The podcast is not intended to provide and should not be relied upon as an investment recommendation or financial, legal or tax advice.

How do you invest when you’re responsible for billions?Richard Tomlinson, CIO of LPPI, sits down with Igor Yelnik to explore the key questions shaping institutional investing today: active vs passive, in-house vs outsourced, private vs public assets, defining risk, and building portfolios that can survive anything.A thoughtful conversation on how big money is actually managed.Host: Igor YelnikGuest Speaker: Richard TomlinsonYoutube: @capitalHorizonsPodcastX: @CHthepodcastFacebook: @capitalhorizonspodcastInstagram: @capitalhorizonspodcastSpotify: capital-horizons-podcastApple Podcasts: id1733764075Acast: capital-horizons-podcastThe information or opinions in this podcast do not constitute, or form part of, any offer to sell or issue, or any solicitation of an offer to purchase or subscribe for any fund or investment programme described in this podcast; nor shall this podcast, or any part of it, or the fact its distribution form the basis of, or be relied on, in connection with any contract. Viewers of this podcast are reminded that any purchase or subscription to any investment programme or vehicle may only be made solely on the basis of information contained in a formal offering document, describing, among other things, the risks associated with such investment programme or vehicle, which may be different from information in this podcast.No representation or warranty, express or implied, is made or given by or on behalf of Alphidence Capital Ltd or any other person as to the accuracy, completeness or fairness of the information or opinions contained herein, and no responsibility or liability is accepted for any such information. Any statements made in this podcast are the participants' opinions, which have been based upon publicly available facts, information and analysis and are not statements of fact. The statements expressed in this podcast are correct as of the date of this podcast and are subject to change without notice. The podcast is not intended to provide and should not be relied upon as an investment recommendation or financial, legal or tax advice.