Victory Capital

So on today's show, we talk to Lance Humphrey.

Lan- Lance is the head of portfolio management for Victory Shares and Solutions, uh, at Victory Capital, and they have this suite of value momentum products.

And we've been talking all year about how the fundamentals have been so strong in the market that it's actually pushed valuations down.

But for certain companies and the ones that are doing the best, right, all these semiconductor companies, their earnings are s- earnings growth is so strong, they're becoming value stocks.

It's interesting.

Anyway, we talked to Lance today about that, about, um, some red flags for quantitative strategies, why value and momentum tend to work better together as opposed to separately.

So here's our talk with Lance Humphrey from Victory Capital.

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We had an investment business, and so I was invited to be a independent director of the, the investment portfolio, which is essentially mutual funds, where they had about s- about fifty funds of seventy-five billion under management.

And then, uh, the decision was made while I was a independent director, was asked to then join with Victory Capital when they bought the business.

They bought the business from, uh, USAA Corporation.

And, uh, we were also asked to, to pick up and move and be the independent directors, uh, my fellow directors of Victory Capital Funds.

Uh, and that's where I am now today.

So that was my first really major corporate board.

All right.

You and I, uh, recorded a Talk Your Book today with Victory Capital, and we were talking about high beta versus low beta.

This, this is the high beta decade.

And high beta and, and high beta momentum, however you wanna phrase it, uh, this decade alone, 2020s, high beta is up 260%.