Staying in the Know On-the-Go With These 5 Marketing Podcasts
Written by: Olivia Carroll
The rapid pace of digital marketing leaves little time for lunch, let alone time to keep up on industry trends. Our secret weapon for staying in the know on-the-go? Podcasts.
Podcasts are an excellent (and did we mention, free) way to learn about practically anything, including marketing. They’re an excellent way to expand your horizons and learn from experts you wouldn’t normally cross paths with. Plus, podcasts can accompany you anywhere you go – on your commute, at the gym, in the kitchen – so you can tune in when it’s most convenient for you.
The hardest part is deciding what to listen to first. Picking a new podcast can feel like choosing a show to binge watch, so we’ve gone ahead and done the heavy lifting for you. Here are some of the best marketing podcasts in the game. (Trust us, these shows will make you wish you had a longer commute.)
1. WSJ MEDIA MIX
Hosted by: Jack Marshall and Steven Perlberg
In this podcast you’ll find: All things media. Social, TV, political, even food media! This dynamic podcast focuses on marketing and media for today’s CMO through a thought-provoking evaluation of the industry in interviews with experts in the field.
Topics include: Pokémon Go, TV’s shift to digital, advertising transparency, CNN’s plans to cover the Trump administration, and Silicon Valley inside stories
Listen now: WSJ Media Mix
2. THE MARKETING COMPANION PODCAST
Hosted by: Mark Schaefer & Tom Webster
In this podcast you’ll find: Comedic rhetoric to break down cutting-edge marketing insights. This podcast hilariously delivers acclaimed episodes that highlight their talents as authors, consultants, researchers, and bloggers.
Topics include: Gig economy and controversial marketing, content marketing FOMO, how to create a winning strategy with crappy content, and the true goal of influence
Listen now: Marketing Companion Podcast
3. THE BOAGWORLD WEB DESIGN SHOW
Hosted by: Paul Boag and Marcus Lillington
In this podcast you’ll find: A British perspective on web design with content for designers, developers and website owners. This unique show provides listeners with a wide range of entertaining episodes centered around design topics.
Topics include: User experience design, building sites for ROI, awesome apps and terrific tools, and overcoming digital management problems
Listen now: The Boagworld Web Design Show
4. THE MARKETING BOOK PODCAST
Hosted by: Douglass Burnett
In this podcast you’ll find: Interviews with best-selling authors on topics like social media, digital marketing, sales, B2B marketing, content marketing, and inbound marketing.
Topics include: Unmarketing, what customers crave, how to sell with a story, content chemistry, and how the ego is the enemy
Listen now: The Marketing Book Podcast
5. MARKETING OVER COFFEE
Hosted by: John Wall and Christopher Penn
In this podcast you’ll find: Quick 20 minute episodes recorded every week in a coffee shop. With a fusion of classic and new marketing, they give listeners quick marketing tips and tricks, presented in a casual conversational way.
Topics Include: Robot store, FrankenPhone returns!, hai karate and cake, math crimes against humanity, and 50 shades of marketing
Listen now: Marketing Over Coffee
Alternative Beta Strategies: Alpha/Beta Separation Comes to Hedge Funds
Written by: Yazann Romahi, Chief Investment Officer of Quantitative Beta Strategies, J.P. Morgan Asset Management
A quiet revolution is taking place in the alternatives world. The idea of alpha/beta separation has finally made its way from traditional to alternative investing. This development brings with it a more transparent, liquid and cost-effective approach to accessing the “alternative beta” component of hedge fund return and a new means for benchmarking hedge fund managers.
The good news for investors is that the separation of hedge fund return into its components—rules-based alternative beta and active manager alpha—has the potential to shift investing as we know it. These advancements could democratize hedge funds and, at long last, make what are essentially hedge fund strategies available to all investors—even those who aren’t willing to hand over the hefty fees often associated with hedge fund investing.
A benchmark for alternatives
With respect to traditional equity investing, we have long accepted the idea that there is a market return, or beta—but this hasn’t always been the case. Investors used to assume that to make money in the stock markets, one needed to buy the right stocks and avoid the wrong ones. The idea of a market return independent of skilled stock selection seemed ridiculous to most market participants. Yet today, we would never invest in an active manager’s strategy without benchmarking it against its respective beta.
Interestingly, hedge fund managers have been held to a different standard. Investors have been much more willing to accept the notion that hedge fund strategy returns are pure alpha, and that their investment returns are based entirely on the skill of the fund manager. That notion explains why investors have been willing to accept a “two and twenty” fee structure just to access what has been perceived as one of the most sophisticated and powerful investment vehicles available.
In thinking about the concept of beta, consider its precise definition—the return achievable by taking on a systematic exposure to an economically compensated risk. In traditional long only equity investing, the traditional market beta has been further refined as a number of other risks have been identified that are commonly referred to as “strategic beta.” These include factors such as value, momentum, quality and size. But no one ever said that these risk factors must be long-only.
Over the past decade, as more hedge fund data became available, academics began to disaggregate hedge fund return into two components: compensation for a systematic exposure to a long/short type of risk (alternative beta), and an unexplained “manager alpha.” What they found is that a significant portion of hedge fund return can be attributed to alternative beta. That fact has turned the tables on how we look at hedge fund return. With the introduction of the alternative beta concept, hedge fund managers will have to state their results, not just in terms of total return, but also as excess return over an alternative beta benchmark.
Merger arbitrage—an alternative beta example
The merger arbitrage hedge fund style can be used to illustrate the alternative beta concept. In the case of merger arbitrage, the beta strategy would be the systematic process of going long every target company, while shorting its acquirer. There is an inherent return to this strategy because the target stock price typically does not immediately rise to the offer price upon the deal’s announcement. This creates an opportunity to purchase the stock at a discount prior to the deal’s completion. The premium that remains is compensation to the investor for bearing the risk that the deal may fail.
Active merger arbitrage managers can add value by choosing to invest in some deals while avoiding others. Therefore, their benchmark should be the “enter every deal” strategy, not cash. In fact, the beta strategy explains the majority of the return to the average merger arbitrage hedge fund. And it doesn’t stop there. Other hedge fund styles that can be explained using alternative beta include equity long/short, global macro, and event driven. Note that the beta strategy invests in the same securities, using the same long/short techniques as the hedge fund strategy. The difference is that the beta strategy is a rules-based version that can become the benchmark for the hedge fund strategy. After all, if a hedge fund strategy cannot beat its respective rules-based benchmark (net of fees), an investor may be wiser to stick to the beta strategy.
Implications for investors
What does all this mean for the end investor? Hedge funds have traditionally been the domain of sophisticated investors willing to pay high fees and sacrifice liquidity. Alpha/beta separation in the hedge fund world means that investors can finally choose whether to buy the active version of the hedge fund strategy or opt for the passive (beta) version. Hedge fund strategies can be effective portfolio diversifiers. Now, through alternative beta, virtually all investors can access what are essentially hedge fund strategies in a low cost, liquid, and fully transparent form. For investors who haven’t had prior access to hedge funds, this could be welcome news. Not only can investors look at an active hedge fund manager’s strategy and determine how it has done compared to the systematic beta equivalent, they can also invest in ETFs that encapsulate these systematic strategies.
When looking at one’s traditional balanced portfolio today, there are plenty of questions around whether the fixed income portion will achieve the same level of diversification it has provided in the past. After all, with yields still low, there is little income return. Additionally, the capital gains that came from interest rate declines are likely to reverse. With fixed income unlikely to adequately fulfill its traditional role in portfolios, there is a need to find an alternative source of diversification. This is where alternative strategies may help. For investors seeking to access diversifying strategies in liquid and low-cost vehicles, alternative beta strategies in ETF form are one option.
Looking for an alternative to enhance diversification in your portfolio?
For investors looking to further diversify their overall portfolio, JPMorgan Diversified Alternatives ETF (JPHF) seeks to increase diversification and reduce overall portfolio volatility through direct, diversified exposure to hedge fund strategies using a bottom-up, rules-based approach.
Learn more about JPHF and J.P. Morgan’s suite of ETFs here.
Call 1-844-4JPM-ETF or visit www.jpmorganetfs.com to obtain a prospectus. Carefully consider the investment objectives and risks as well as charges and expenses of the ETF before investing. The summary and full prospectuses contain this and other information about the ETF. Read them carefully before investing.
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