In this episode, Ram Ahluwalia joins the show to discuss his macro view of markets, why he thinks we’re in goldilocks, and his thought process for asset allocation. We also delve into NVIDIA and AI, factor investing, and the role of risk-adjusted returns. Enjoy!—Follo Ram: https://x.com/ramahluwaliaFollow Felix: https://x.com/fejau_incFollow On The Margin: https://twitter.com/OnTheMarginPodFollow Blockworks: https://twitter.com/Blockworks_—Polkadot is the foundation for an open and resilient web. Governed by its users, Polkadot empowers the largest DAO of 1.3M DOT holders to shape the network’s future. Home to 500+ apps and chains backed by $6B in shared security, Polkadot is revolutionizing DeFi, GameFi, AI, RWAs, and more. With upgrades like Async Backing, Agile Coretime, Elastic Scaling, and JAM on the horizon, now’s the time to join.Start your journey today at polkadot.com/get-startedMANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.Learn more: https://www.mantrachain.io/—Timestamps:(00:00) Introduction(01:56) Ram & Lumida Wealth(02:32) Macro Overview(05:54) 50 Bps Cut Was a Mistake(07:19) Economic Goldilocks(11:27) Fed Mandate(12:33) Cutting Cycle Path(14:32) The Neutral Rate & Animal Spirits(17:05) Election Impact on Markets(18:55) Advertisements(20:11) Asset Allocation Strategies(25:27) NVIDIA & AI(28:55) Factor Investing(33:09) Mathematical Model Shortfalls(35:53) Risk-Adjusted Returns(39:24) Digital Asset Framework(45:40) Market Outlook

—Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.