Seth Rosenthal of Academy Asset Management - When Geopolitics Moves Markets

Today on the podcast, Ben Vaske is joined by Seth Rosenthal from Academy Asset Management. Seth was previously the Bank Chief Investment Officer at Northern Trust. In his 16-year career at Northern, he oversaw $100 billion in global fixed income and money market assets across a range of duration and credit mandates. In addition to his investment leadership, Seth served on Northern Trust’s Employee Benefit Investment Committee, where he held fiduciary responsibility for the firm’s employee benefit plans. Prior to Northern Trust, he spent 10 years with the Bank of Montreal, where he held pivotal roles in Treasury and Credit Analytics. Seth is a CFA charterholder with a BBA from the University of Iowa, where he also sits on the Finance Advisory Council at the Tippie School of Business.

Key Takeaways

What is Seth’s  favorite home-cooked meal or recipe?
An overview on Seth’s career and what led him to Academy Asset Management. Also, what does Academy do and how do they view the markets?
When advisors and investors are seeing geopolitical headlines everyday, what should they be watching out for and how can they separate signal from noise?
Is the collapse in traffic through the Strait of Hormuz at the core of what’s going on, from a market standpoint, in our conflict with Iran? What might a potential reopening look like?
Why have oil prices been so volatile, rather than just merely remaining elevated, given the current geopolitical risk?
How does this oil supply chain crisis lead to changes in  geopolitics following the crisis?
Where does Seth look first in terms of impact, or potential resolution talks, and is he thinking about positioning any differently right now?
Are there any areas in the market that Seth would expect to react first if there is some sort of resolution?
If tensions do escalate further, what does Seth expect to see? What is his bad case scenario for the markets?
What might rate policy look like from here on out in Seth’s opinion?
With Seth’s experience managing fixed income portfolios, is there anything he’s thinking about from a positioning perspective given this potential change in inflation expectations?
When Seth zooms out historically, are there any common threads of market impact that last past initial geopolitical shocks?
How is Seth’s team thinking about how the US is balancing market and economic strength with the current situation?
Is there anything unique in this current moment about how the geopolitics are effecting markets?

Links

Seth Rosenthal on LinkedIn
VETZ, Veteran Bond ETF - Academy ETFs
Academy Asset Management

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