Todd sits down with Lawrence Hamtil, principal at Fortune Financial Advisors in Kansas, for a wide-ranging conversation on what it means to manage other people's money responsibly in a market fixated on AI and mega-cap momentum. Lawrence shares why a sector-neutral, roughly equal-weighted approach has served his clients well across cycles, how he thinks about position sizing as a fiduciary, and why he'd rather apologize for underperforming in a bull market than blow up a client's irreplaceable capital.
The conversation also digs into the AI spending cycle and its parallels to the China commodity super-cycle of the 2000s, the bear and bull cases for software stocks after their massive multiple compression, and why the economics of AI monetization remain genuinely uncertain. Plus: what Midwestern roots actually mean for investment temperament, the fictional writers who shaped Lawrence's worldview, and why you won't be vibe coding the avionics on a Boeing 777 anytime soon.
Topics covered: minimum volatility investing, equal-weighted portfolios, fiduciary risk management, AI capex cycle, software valuations, sector-neutral portfolio construction, Midwest investing culture, and more.
Lawrence can be found on X at @lhamtil and at fortunefinancialadvisors.com. He also co-hosts the Preferred Shares podcast.
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Flyover Stocks is an educational podcast hosted by Todd Wenning.
Todd is the founder of KNA Capital, an investment adviser registered in the state of Ohio.
The views expressed on this podcast — including those of any guests — are for informational purposes only and do not necessarily reflect the views of KNA Capital or its clients.Nothing discussed should be considered investment advice or a recommendation for any particular security.
All investments involve risk, including possible loss of principal.For more information, please see KNA Capital’s Form ADV at www.kna-capital.com.
