This episode reframes asset pricing by replacing symmetric “risk” with asymmetric fear.

Using evidence from the 19th through 21st centuries, Arnott and McQuarrie show that market returns are nonstationary, that equity premia depend on cycle and starting conditions, and that premia can go negative when FOMO dominates fear of loss.

The practical takeaway is behavior‑aware portfolio design and expectation‑setting grounded in regime dynamics, not static averages.

This TREUSSARD TALKS interview with Jane Buchan examines “alternatives” by mechanics rather than labels.

We talk about private equity as levered equity, private credit as floating‑rate credit with still‑evolving default and workout paths, and hedge fund strategies as instruments that change exposure, correlation, and payoff shape via long/short construction and constraints.

We cover how globalization has raised cross‑market correlations, where diversification still adds value, and why separate accounts, custody clarity, and transparent execution are first‑order risk controls.⁠⁠​

We also work through failure modes such as narrative‑driven allocation, overreliance on brand, and ignoring capacity and liquidity.

Join Jonathan Treussard, Ph.D. for a thoughtful conversation with Michael Imerman, Ph.D. — Professor of Finance at UC Irvine and author of The Economics of FinTech (2025).

They talk about what truly counts as FinTech, map the FinTech ecosystem, trace the post‑GFC innovation cycle, and separate durable signal from hype across AI, cloud, and blockchain.

They also explore inclusion, alternative data, and fairness in credit decisions, and close with teaching, purpose, and the skills that create day‑one value in finance.

Jonathan Treussard sits down with David Kotok to connect history, civility, and investing. Kotok traces formative lessons from a decade in his family’s grocery store through a principled career in money management.

The conversation links historical cycles to today’s markets. Drawing on research behind Kotok’s book, The Fed and the Flu, they outline a shift from post‑pandemic dynamics to war‑finance dynamics. The takeaway: geopolitics and debt‑funded military spending have implications for policy, rates, and asset allocation⁠⁠.

The conversation ties strategy to purpose and horizon. And it teaches us lessons that only a lifetime of studying markets and history can bring to the thoughtful listener.

On this episode, I sit down with Larry Kotlikoff — Boston University economics professor, influential policy thinker, and longtime mentor — for a candid conversation about what economics really means for families and investors.

We cover Larry’s path from Harvard to the halls of Washington and BU leadership, unpack the birth of the Auerbach–Kotlikoff model, and explore why fiscal language can mislead real‑world decisions.

The discussion connects rigorous theory to practical choices, helping investors navigate uncertainty from first principles and with discipline. Valuable for business leaders, families, and professionals seeking durable wealth aligned with purpose.

On this episode, I sit down with Anna Paglia, Chief Business Officer at State Street Global Advisors, for a candid conversation about democratizing investing, purpose‑driven leadership, and breaking down barriers to wealth creation.

We trace Anna’s journey from waiting tables in Rome while in law school to executive leadership at a $4.7T asset manager, and explore how ETFs opened market access with small starting amounts⁠⁠.

We dig into why investing is as much about behavior as it is about strategy—navigating volatility with discipline, learning from unexpected mentors, and aligning purpose with long‑term goals. Valuable for families, founders, and professionals looking to build durable wealth with clarity⁠⁠.

Recently, Jonathan Treussard, Ph.D. wrote about the importance of maintaining calm and perspective amid market volatility and noisy headlines, encouraging thoughtful restraint over impulsive decisions.

“Don’t just do something, sit there.” The urge to respond to every market move is natural, but patience and clarity help investors avoid regret.

These reflections serve as a reminder that perspective and context are key—even in turbulent times, wise restraint is often the best response.

Read “Do You Know Who I Am?” and “Your Kids Are Reading the Room: Talk to Them."

Jonathan Treussard was interviewed by Joline Godfrey on her show, Raising Financially Fit Families.

They explored what it really means to prepare kids for a life of true abundance—not just in dollars, but in community, curiosity, and resilience.

A few ideas to take from this conversation

➔ Kids are naturally curious about how the world works—including money.

➔ Complexity isn’t something to be “solved”—it’s something to lean into.

➔ Life doesn’t play out as a series of photos—it’s a movie.

➔ Wealth is about so much more than money.

Episode contains valuable and actionable insights for high-net-worth households.