Weighing The Risks

Grant Engelbart of Carson Group - Bro Bubble Popping?

Episode Summary

This week, Rusty Vanneman and Nick Codola talk with Grant Engelbart, Vice President, Investment Strategist at Carson Group. In this episode, we will discuss what “the bro bubble” is and whether or not there is more pain to come for these stocks. We take a look at whether this is like Wallstreet Bets 2.0 or the proverbial canary in the coal mine.

Episode Notes

This week on Weighing the Risks we are joined by Grant Engelbart, Vice President, Investment Strategist at Carson Group. Grant Engelbart serves as Vice President, Investment Strategist for Carson Group. In this role, Grant is part of the team responsible for the management of the Carson Investment platform, In-house Carson model portfolios, and contribution to the overall asset allocation viewpoints of the investment team. Before joining Carson, Grant was the Deputy CIO of ETFs and SMAs at Brinker Capital Investments (part of Orion Advisor Solutions). At Brinker, Grant was part of the discretionary investment team responsible for many assets across investment vehicles, and managed accounts ranging from individual 401ks to large university endowments. Prior to joining Brinker Capital Investments, Grant held positions at CLS Investments (which has since rebranded to Brinker Capital Investments), TD Ameritrade, and State Street Corporation. Grant received his Bachelor of Science in finance from the University of Nebraska at Lincoln. He is a CFA® Charter holder, holds the Chartered Alternative Investment Analyst (CAIA) designation, DACFP Certificate in Blockchain and Digital Assets, Candriam Certificate in Sustainable and Responsible Investing and Series 65 registration. He is a member of the CFA® Society of Nebraska and the CAIA Chicago chapter. He has contributed to numerous publications and is an active contributor to commentary related to the ETF industry. Grant has three young children with his wife Jessica. He’s passionate about any University of Nebraska sports team, golf, basketball and most outside activities. He is actively involved in his local church and other Omaha-based organizations. Grant Engelbart is not registered with Cetera Advisor Networks LLC.

Key Takeaways

 Quotes

[09:29] ~ “At a certain point because of Deepseek, which is one the early catalysts for this  in some ways, the vulnerability to AI names, which not all these Bro Bubble names are not AI plays per se, but there's involvement there. Then the relationship with the Trump White House, and whatever was happening post election for these names, I think both of those have created an environment where you can’t price Palantir at 240x earnings….I wouldn’t say [there has been]...a complete, utter, ridiculous pop, but there’s an adjustment to a more realistic expectation for these companies going forward. ” ~ Grant Engelbart

[12:22] ~ “The trend reversal in international stocks is really important, emerging markets is part of that as well, and we have brought our emerging market and international stock weights back to neutral, it was underweight for a period of time, mostly due to the dollar strength. They have potentially fiscal tailwinds behind them now, inflation is in a better place in many cases and then there’s a valuation tailwind for international stocks in a big way as well, so…that’s definitely an area to keep, at a minimum, at neutral weight in your portfolios.” ~ Grant Engelbart

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Wealth Management services are offered by Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. Orion Portfolio Solutions, LLC is a wholly owned subsidiary of Orion Advisor Solutions, Inc. (“Orion”)

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