Treussard Talks.

When History Meets Markets: Geopolitics, Civility, and Capital with David Kotok | Treussard Talks (E09)

When History Meets Markets: Geopolitics, Civility, and Capital with David Kotok | Treussard Talks (E09)
Join Jonathan Treussard for a thoughtful conversation with David Kotok. David’s decades of experience as CEO, CIO, and investor, along with his deep interest in history and geopolitics, provide powerful lessons for investors navigating uncertain times.
Key Highlights
The Grocery Store MBA
David shares how ten years working in his family’s grocery store instilled practical lessons in humility, service, and human connection—arguably as valuable for leadership and decision-making as any advanced degree.
Why Studying History Still Matters
Drawing inspiration from Churchill, David emphasizes the importance of understanding history not just for context, but for insight into cycles of war, peace, and global economics—and how those play out in today’s markets.
Financing Conflict in the Modern Era
Jonathan and David dive into the economic realities of modern warfare—how governments fund defense through borrowing rather than taxation, what that means for inflation, and the long-term consequences for future generations.
Civility in an Uncivil Age
In a profession where many stay silent, David underscores the importance of being direct yet civil, candidly highlighting risks and trade-offs rather than hiding behind consensus. It’s a reminder of how leadership, whether in finance or public discourse, requires integrity and courage.
The Investor’s Takeaway
From debt-fueled defense spending to the inflationary implications of geopolitical conflict, this episode connects the dots between history, policy, and capital markets. For seasoned professionals and families managing wealth across generations, David’s perspective illustrates why disciplined analysis, humility, and long-term thinking matter most.
Why It Matters for Sophisticated Investors
David Kotok’s career and worldview reinforce timeless wisdom: successful wealth management is not just about beating benchmarks but about understanding context—how human behavior, history, and geopolitics shape the economic risks and opportunities we face today. These insights are especially relevant for business leaders, families, and professionals who must position capital with both prudence and purpose.
If you enjoyed this episode and want access to thoughtful, unfiltered insight at the intersection of wealth and human behavior, subscribe to my free newsletter, Wealth, Empowered. Every two weeks, you’ll gain practical wisdom tailored for investors committed to long-term vision and purposeful wealth management.
Sign up here: https://wealth-empowered.beehiiv.com/
Disclaimer
The content of Treussard Talks is for informational purposes only and should not be considered financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult their own financial advisors before making investment decisions. Visit www.treussard.com for additional disclaimers.

Economics That Matters: From Academic Theory to Real-World Solutions with Larry Kotlikoff | Treussard Talks (E08)

Economics That Matters: From Academic Theory to Real-World Solutions with Larry Kotlikoff | Treussard Talks (E08)
Join Jonathan Treussard for a lively conversation with Larry Kotlikoff, Professor of Economics at Boston University, influential policy thinker, and longtime mentor. In this episode, Jonathan and Larry look back on the defining moments that shaped Larry’s career—from the early days at Penn and Harvard to the turbulence of academic politics and his groundbreaking work in fiscal and intergenerational accounting.
Learn more about Larry's Maxifi Planner here: https://maxifiplanner.com/
Key Highlights
Choosing the Road Less Traveled
Larry shares how he was torn between law school and economics, and how encouragement from mentors like Steve Ross set him on an unexpected path to Harvard and an entire career driven by curiosity and creativity.
Academic Hurdles and Speaking Your Mind
Larry talks about the challenges he faced at top universities, including getting pushed out of positions after making waves with his research. He talks about why being authentic and asking tough questions matters— even when it means not always fitting in.
Making Public Policy Count
Larry explains how his work at the Council of Economic Advisors and his research on fiscal and intergenerational accounting grew from a desire to have real impact on society, not just on academic debates.
Finding Value in Nonlinear Careers
The discussion highlights the unpredictable nature of meaningful work—how taking risks and accepting setbacks leads to a more rewarding journey, especially in a field where playing it safe is the norm.
Mentorship and Lasting Culture
Jonathan credits Larry’s personal style and independent thinking for helping create the world-class economics department he experienced at BU. They reflect on how true leadership is about building a culture where others can thrive.
Why It Matters for Sophisticated Investors
Larry’s story is a reminder: real leadership, whether in academia or finance, means taking risks, embracing setbacks, and staying true to your own vision. This episode offers lessons in creativity, resilience, and the importance of asking big questions, tailored for business leaders, families, and professionals committed to purposeful wealth management.
 
If you enjoyed this episode and want thoughtful, unfiltered insight at the intersection of wealth, purpose, and strategic thinking, sign up for my free newsletter, Wealth, Empowered. Every two weeks, you’ll get practical wisdom and commentary for business leaders, professionals, and families looking to align their wealth management with long-term vision and personal values.
Sign up here: https://wealth-empowered.beehiiv.com/
Disclaimer
The content of Treussard Talks is for informational purposes only and should not be considered financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult their own financial advisors before making investment decisions. Visit www.treussard.com for additional disclaimers.

Purpose, Access, and the Modern Investor’s Journey with Anna Paglia | Treussard Talks (E07)

Purpose, Access, and the Modern Investor’s Journey with Anna Paglia | Treussard Talks (E07)
Join Jonathan Treussard for a powerful conversation with Anna Paglia, Chief Business Officer at State Street Global Advisors, as they delve into the future of investing, leadership with purpose, and breaking down barriers to wealth creation. Anna’s inspiring story traces her journey from waiting tables in Rome while attending law school to her current executive leadership at a firm managing $4.7 trillion in assets.
Key Highlights
Breaking Down Barriers
Anna discusses her working-class upbringing and how it fueled her commitment to democratizing access to sophisticated wealth-building tools, challenging an industry long defined by exclusion.
From Law to Asset Management
Hear how Anna’s shift from entertainment law in Italy to asset management exemplifies the value of a non-linear career—and why adaptability is key to professional success.
The ETF Revolution
Discover how Anna helped champion ETFs, bringing institutional-level diversification to everyday investors and making market access possible with as little as $25.
Lessons in Leadership and Mentorship
Anna recounts formative mentorship from surprising places—including a restaurateur’s crisis wisdom—and shares how those lessons inform her leadership and resilience.
Purpose, Sacrifice, and Career Building
The dialogue explores the difference between “having a job” and “building a career,” including the role of sacrifice, vision, and authentic purpose.
Investment Psychology
Gain actionable advice on managing financial emotions during times of market volatility, and why the discipline of “don’t just do something, sit there” is often the savviest move.
Family Wisdom and Defining Success
Anna offers insights from her two grandmothers—one who embraced tradition, one who blazed her own trail—illuminating diverse paths toward happiness and authentic achievement.
The Future of Finance
The episode examines opportunities in democratizing private markets and the risks posed by social media-driven misinformation in investing.
Why It Matters for Sophisticated Investors
Anna’s perspectives connect real-world experience to themes that matter for business leaders, legacy families, and professionals managing significant wealth. The conversation seamlessly blends strategic, behavioral, and personal insights, offering both practical advice and inspiration for those navigating complex financial landscapes.
Listen to discover how purpose-driven leadership and industry innovation can transform financial complexity into clarity—and why empowering investors of all backgrounds is essential to the future of wealth management.
Episode Timestamps
01:00 — Anna’s journey: from law school waitress to leading strategic initiatives at a $4.7 trillion asset manager
05:00 — Breaking down barriers: how working-class roots shaped a mission to democratize sophisticated investing
12:00 — ETF revolution: institutional-quality diversification accessible with just $25
20:00 — The psychology of meaningful career building: sacrifice, purpose, and betting on your vision
26:00 — Managing investment emotions during volatility: why patient discipline beats reactive decisions
35:00 — Grandmother wisdom: two different paths to authentic fulfillment and defining success
38:00 — The future of finance: private market access and social media-driven risks
If you enjoyed this episode and want to receive thoughtful, unfiltered insight at the intersection of wealth, purpose, and strategic thinking, sign up for my free newsletter, Wealth, Empowered. Every two weeks, you’ll get practical wisdom and actionable commentary crafted for business leaders, professionals, and families looking to align their wealth management with their values and long-term vision.
Sign up here: https://wealth-empowered.beehiiv.com/
Disclaimer
The content of Treussard Talks is for informational purposes only and should not be considered financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult their own financial advisors before making investment decisions. Visit treussard.com for additional disclaimers.

Reclaiming Control, Legacy, and Family Dynamics: Estate Planning with Anne Rhodes & Dave Haughton | Treussard Talks (E06)

On this episode, I sit down with Anne Rhodes, Chief Legal Officer at Wealth.com, and estate attorney Dave Haughton for an important conversation about reclaiming control, navigating family dynamics, and how proactive estate planning shapes our wealth, legacies, and relationships across generations.
Anne and Dave share their journeys from major law firms to legal tech and public education. We dig into why estate planning is about much more than technical documents or tax savings—it’s about empowering families, resolving conflict before it starts, and connecting actions to the things that matter most.
You’ll hear us cover:
Anne and Dave’s paths from traditional law practice to digital estate planning and legal innovation
Essential estate planning documents to have at every life stage, from powers of attorney for young adults to advanced trusts for complex family dynamics
Probate, incapacity, and even the importance of sticky notes (literal and metaphorical) on personal possessions
Why “everyone has a plan—the question is, who wrote it: you, or the state?”
Family dynamics, inertia, and why tough conversations are actually an act of care
Real stories about inheritance, meaningful heirlooms, and the ripple effects of legacy (monetary and otherwise)
Procrastination and psychology: why we avoid planning, and the accessible paths forward
The purpose behind planning: honoring true intentions, empowering the next generation, and repairing or deepening family relationships both now and after we’re gone
Anne and Dave bring deep experience, candor, and commitment to making estate planning more accessible and human. Their perspectives help families tackle the hurdles, have the tough conversations, and make choices today that will outlast tomorrow.
If you want to understand how estate planning shapes not just what you leave behind, but the very fabric of your family and your community, this episode is essential listening.
Ready for more?
If you found this conversation helpful and want more thoughtful, candid insight at the intersection of money, meaning, and modern wealth, sign up for my free newsletter, Wealth, Empowered. Get practical insights and stories in your inbox every two weeks: https://wealth-empowered.beehiiv.com/ 
DISCLAIMER: The content of “Treussard Talks” is for informational purposes only and should not be considered financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult their own financial advisors before making investment decisions. Go to treussard.com for additional disclaimers.
01:00 — Anne & Dave’s backgrounds: law, technology, and family journeys
05:00 — What is estate planning? Powers of attorney, wills, and basic strategies for every stage of life
12:00 — Probate avoidance, sticky notes, and making your intentions clear
20:00 — Family dynamics, psychology, and approaching tough conversations
26:00 — The ripple effect of planning: legacy, meaning, community
35:00 — Rapid-fire questions: favorite word, fear, legacy, and more
38:00 — Closing thoughts: empowering the next generation, and the practical joy behind making a difference

Intergenerational Wisdom, Risk, and the Functions of Finance with Zvi Bodie | Treussard Talks (E05)

Intergenerational Wisdom, Risk, and the Functions of Finance with Zvi Bodie | Treussard Talks (E05)
On this episode, I sit down with Zvi Bodie—economist, author, advocate for the American investor, and my father-in-law—to explore how the core functions of finance shape not just markets and policy, but also the way we live, save, and prepare for uncertainty across our lives.
Our conversation takes us from Zvi’s journey growing up in Brooklyn and pursuing philosophy before discovering economics, to his pioneering research in risk, inflation-protected bonds, and the very real-world consequences of retirement planning and societal change. We dig into what it means for financial tools and policies to genuinely serve individuals and communities, how the theory-practice divide can be bridged, and why teaching and translation matter.
You’ll hear us cover:- Zvi’s path from Brooklyn to MIT to decades of teaching and advocacy- How and why “stocks are not a hedge against inflation”—and the fallacy of “stocks for the long run”- The invention, economics, and purpose of inflation-protected bonds (like TIPS and I-Bonds)- Why understanding core financial functions matters more than fixating on products or institutions- How evolving societal needs gave rise (and death) to pensions, 401(k)s, and mutual funds—and why adaptability is essential- Lessons from crises (LTCM, tech bubble, GFC) about psychology, risk, and humility- The vital importance of saving, preparing for adversity, and building resilience—financially and emotionally- The power of clear communication, financial literacy, and the meaning that comes from teaching and nurturing the next generation
Zvi brings intellectual honesty, historical context, and a deep commitment to making finance accessible—blending academic rigor with genuine care for families and everyday investors.
If you want to understand how finance really underpins our lives—and how its core principles translate into better decisions for your future—this conversation is essential listening.
If this resonates with you, consider subscribing to Wealth, Empowered (https://wealth-empowered.beehiiv.com/), my bi-monthly newsletter, where I share candid insights at the intersection of money, meaning, and modern wealth.
DISCLAIMER: The content of “Treussard Talks” is for informational purposes only and should not be considered financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisors before making investment decisions. Go to treussard.com for additional disclaimers.
01:00 — Zvi’s early years, education, and path into economics and finance10:00 — Foundational lessons at MIT: the rise of financial science13:00 — Why stocks are not true inflation hedges or “safe in the long run”19:00 — The creation and purpose of inflation-protected bonds (TIPS, I-Bonds)23:00 — The functional perspective: why finance is about serving core human needs, not product labels27:00 — Retirement: how and why pensions gave way to 401(k)s, and what’s lost and gained32:00 — How psychology, herding, and surprise drive crises like LTCM, tech bubble, GFC37:00 — Integrating finance, decision-making under uncertainty, and the next generation40:00 — “Principles of Finance”: teaching core concepts and empowering new investors44:00 — Market psychology, humility, and preparing for the unexpected45:00 — The importance of saving, resilience, and community at every stage of life48:00 — Why teaching, financial literacy, and nurturing others is at the heart of fulfillment50:00 — Rapid-fire reflections: favorite words, sounds, fears, and hopes for the next generation

Capitalism, Agency, and Investing with Dave Nadig | Treussard Talks (E04)

Capitalism, Agency, and Investing with Dave Nadig | Treussard Talks (E04)
On this episode, I sit down with Dave Nadig, one of the most thoughtful voices in asset management, to explore the roots and evolution of investing, the purpose and power of capitalism, and how trust and agency fit into today’s financial world.
Our conversation goes beyond stocks and markets to look at the system itself: why we pool resources, how we decide who—and what—to trust, and what it means to “bet with the house” as individuals and as a society.
We dig into the sweeping changes and recurring cycles in asset management, from mutual funds and ETFs to the rise of indexing and crypto, and examine how technology, generational attitudes, and societal trust keep shifting the ground beneath our feet.
You’ll hear us cover:
What capitalism is really for—and who it serves
Why distrust and agency are at the heart of modern investing
The journey from mutual funds to ETFs, index funds, and crypto
What it means to “bet with the house”—and why it can feel like giving up agency
How to navigate complexity by focusing on trust, transparency, and relationships in markets
Personal reflections on risk, entrepreneurship, and finding meaning beyond returns
Dave brings a rare mix of intellectual curiosity, lived experience, and industry wisdom.
If you want to understand how the machinery of investing fits into the bigger picture of society—and your own life—this is a conversation you won’t want to miss.
If these kinds of conversations resonate with you, you might also enjoy Wealth, Empowered, a bi-monthly newsletter where I share candid and authentic insights, frameworks, and reflections from the intersection of money, meaning, and modern wealth.
DISCLAIMER: The content of ”Treussard Talks” is for informational purposes only and should not be considered as financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisors before making any investment decisions. Go to treussard.com for additional disclaimers.
01:00 — Capitalism and pooling resources07:00 — The journey from mutual funds to ETFs13:00 — Generations and institutional distrust21:00 — Betting with the house: trust, risk, and agency32:00 — Crypto, collapse, and “hyper-agency”38:00 — Black hat/white hat: trust and transparency in asset management44:00 — Dave’s story, lessons learned, and final thoughts
 

Raising Financially Fit Kids in Abundance with Joline Godfrey | Treussard Talks (E03)

Raising Financially Fit Kids in Abundance with Joline Godfrey | Treussard Talks (E03)
On this episode, I sit down with Joline Godfrey—someone who deeply understands what it takes to raise a financial fit kids when they are surrounded with abundance, not just with assets, but with purpose and confidence. Our conversation focuses on what truly matters: empowering your children to be financially capable, values-driven, and resilient in a world that doesn’t always make it easy.
We talk openly about the challenges of discussing money at home—and why it’s so important to push past that discomfort. Joline shares her journey from teaching young girls about money to developing 'Bounce 10,' a holistic program for families determined to be intentional about their wealth and legacy.
You’ll hear us cover:
Why your kids’ relationship with money starts with you, not a textbook
Turning family values from aspirations into daily actions
The real-life complexities that abundance brings to family conversations
How to model healthy financial behaviors, even when it feels awkward
Breaking the silence around money to help your kids grow up grounded and wise
Learn more about Joline and Bounce 10 here: https://www.bounce-10.com/
DISCLAIMER: The content of ”Treussard Talks” is for informational purposes only and should not be considered as financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisors before making any investment decisions. Go to treussard.com for additional disclaimers.
00:00 — Introduction00:50 — Joline’s journey in financial education04:33 — The F.I.S.H. framework and rethinking wealth08:45 — Psychology behind money conversations13:19 — Modeling real-world financial values for your family26:38 — Scaling learning with Bounce 1034:49 — Reflections on what actually works40:24 — Final thoughts and sign-off

Navigating Financial Crises and Building Career Resilience with Katie O'Dwyer | Treussard Talks (E02)

Navigating Financial Crises and Building Career Resilience with Katie O'Dwyer | Treussard Talks
In this episode of Treussard Talks, Jonathan Treussard chats with Katie O'Dwyer about her dynamic career in finance. They revisit the 2008 financial crisis, sharing personal stories and key takeaways. Katie discusses her unexpected path from a Harvard physics graduate to a risk management strategist and highlights the vital role of relationships and liquidity in investing.
They explore the psychology and mechanics of investing, touching on diversification, market timing, and the human side of financial decisions. Katie also shares her passion for mentoring students and her love for statistics.
Tune in for a deep dive into financial systems, risk management, and personal growth.
DISCLAIMER: The content of ”Treussard Talks” is for informational purposes only and should not be considered as financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisors before making any investment decisions. Go to treussard.com for additional disclaimers.
00:00 Welcome to Treussard Talks
00:24 Memories of the 2008 Financial Crisis
03:08 Katie's Journey into Finance
04:53 The Role of Risk Management
14:40 The Importance of Relationships in Investing
18:41 Exploring Liquidity and Market Mechanics
23:00 Psychology of Investing
30:07 Personal Passions and Mentoring
32:59 Rapid-Fire Questions

Investing Insights with Alec Crawford: From Computer Science to Wall Street and Beyond | Treussard Talks (E01)

Investing Insights with Alec Crawford: From Computer Science to Wall Street and Beyond | Treussard Talks
Join Jonathan Treussard as he sits down with Alec Crawford to discuss the intersection of the mechanics of investing, the psychology behind investment decisions, and effective risk management strategies. Alec shares his journey from a computer science graduate to a distinguished Wall Street career, and lessons learned during the 2008 financial crisis. They also delve into the recent meme stock madness and Alec’s return to his computer science roots with his innovative AI governance venture. This episode offers a comprehensive look at investment practices, risk management, and the impact of technology on the financial world.
Learn more about Alec and his firm here: https://www.aicrisk.com/
Artificial Intelligence Risk, Inc. provides world-class cybersecurity, risk governance, and compliance management of AI systems.
DISCLAIMER: The content of ”Treussard Talks” is for informational purposes only and should not be considered as financial advice. The views expressed are those of Jonathan Treussard and his guests and do not necessarily reflect the opinions of Treussard Capital Management or its affiliates. Listeners should consult with their own financial advisors before making any investment decisions. Go to treussard.com for additional disclaimers.
00:00 Introduction to Treussard Talks
00:17 Meeting Alec Crawford
03:47 Alec's Background and Education
06:04 Transition to Wall Street
10:53 Risk Management Insights
14:22 The Importance of Financial Plumbing
21:15 The Role of Reputation in Financial Crises
22:32 Changes in Financial Institutions Over Time
23:02 The Impact of Desperation on Financial Decisions
23:49 Mortgage-Backed Securities during the GFC
29:40 The Dangers of Meme Stocks and Bad Investment Advice
31:57 Transitioning Back to Computer Science and AI
33:26 Rapid Development of AI Governance Tools
37:15 Fun and Insightful Q&A Session
39:31 Final Thoughts and Advice