In this episode of In the Money with Amber Kanwar, Amber sits
down with Bob Elliott, Co-Founder, CEO & CIO of Unlimited and
formerly a member of the Investment Committee at Bridgewater
Associates, where he led Ray Dalio’s investment research team.
Few people understand hedge funds and macro the way Bob does —
and he brings that depth straight into this conversation.
Bob explains how Unlimited Funds uses proprietary
machine-learning technology to create ETFs that replicate the
returns of alternative investments — like hedge funds, all with
notably lower fees. Amber digs into how this works, why
individual hedge fund managers don’t outperform each other, and
how Unlimited tracks the “wisdom of the crowd” in real time.
From the chaotic Fed reaction function, to the U.S. macro data
vacuum, to the truth behind the AI “investment boom” and the
emerging risks in credit markets — Bob breaks down where the
economy really stands and what most investors are missing. He
also explains why household spending power is rolling over, what
gold’s surge says about the market, and how hedge funds are
actually positioned today.
In a different type of Pro Picks, Amber walks through Bob’s full
ETF lineup — including HFND, the Multi-Strategy Return Tracker;
HFGM, the Global Macro ETF; HFEQ, the Equity Long/Short ETF; and
HFMF, the Managed Futures ETF — and explores how these strategies
can complement portfolios and even outperform in both rising and
falling markets.
If you want a clear, grounded, brutally honest look at the macro
landscape — from someone who’s seen it from inside the world’s
largest hedge fund — this is the episode to watch.
Timestamps
00:00 Show intro
02:20 Replicating hedge fund returns through ETFs
07:30 generating high quality returns with lower fees
11:00 What is hedge fund positioning telling Bob?
13:35 Understanding macro in a data vacuum
18:10 What is the Fed going to do?
21:40 AI as a driver of growth
26:00 AI, cracks in private credit and who will win AI?
31:50 The risks of the AI play
35:00 Should we expect a weaker U.S. dollar?
39:30 Why Bob spends a lot of time thinking about Japan
42:00 Think about gold from two different perspectives
45:00 Pro Picks: Unlimited’s ETFs (HFND, HFGN, HFEQ, HGMF)
Sponsors
For 25 years, Raymond James has been helping Canadians achieve
their financial goals. Visit https://raymondjames.ca today to
discover how you can live a life well planned.
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DISCLAIMERS
The information provided in this podcast is for informational
purposes only and does not constitute financial, investment, or
professional advice.The views expressed by the host and guests
are their own and do not necessarily reflect the opinions of any
organization or company. The host and guests may maintain
positions in any securities discussed on the podcast. Always
consult with a qualified financial advisor or professional before
making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and
timely money management tips. Hosted by business journalist Amber
Kanwar, each episode features interviews with top portfolio
managers who suggest ways to achieve good returns. Covering
everything from ETFs and Canadian stocks to global investing
trends, dividend strategies, and risk management, this show is
made for DIY investors, stock market enthusiasts, and anyone
looking to sharpen their financial strategy.
Contact: questions@inthemoneypod.com
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