Jack Schibli is Chief Operating Officer and Director of Investment Strategy and Research at Lane Generational. Jack, together with frequent Economics Matters guest and storied investor, Fred Lane, co-founded Lane Generational -- a boutique active investment manager. After studying economics at Middlebury College, Jack teamed up with Fred, first at Raymond James and now at Lane Generational, to produce deeply thoughtful investment strategies based on unusally penetrating research. As a client of Lane Generational, I’ve known Jack for years and am truly taken by his financial acumen. Back in May, I reposted a fascinating newsletter by Jack on the insurance industry’s potential to melt down due its outsized investment in private credit.
In this podcast, Jack discusses his July 15th Lane Generational newsletter called “Q2’26: Poker Face.” Jack’s argues that price discovery in equity markets is no longer operational due to five key factors -- a dramatic rise in the extent of passive stock investing, massive corporate share buybacks, robo computer trading, “pod shops” -- multi-manager hedge funds that move in and out of particular shares at hyperspeed in their search for what’s working, and get-rich-quick retail investors that buy and sell in herds based on social media “advice”. As Jacks puts it, the equity market is now momentum driven, delivering more illiquidity, volatility, and, ultimately, fragility. Take a watch/listen. Jack doesn’t have a PhD in finance, but he’s does have years of competitive alpine ski racing that has pushed fear out of his frontal lobe, in this case fear of calling the stock market as he sees it -- dominated by actors that are transacting without thinking.
Lane Generational is an SEC Registered Investment Advisor. The information provided is for educational and informational purposes only and does not constitute investment advice, and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. I, Larry Kotlikoff, am an investor with Lane Generational. This is not an endorsement, and I am not compensated by Lane Generational.
Economic Matters - The podcast is hosted by Laurence Kotlikoff, a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic.
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Any opinions expressed in Economics Matters’ posts are those of the authors and guests. These are not the opinions of Boston University or Economic Security Planning, Inc.
