Join host Shana Orczyk Sissel, Founder & CEO of Banríon Capital Management, as she sits down with Erik Ogard, Founder of BufferLabs, for a deep dive into Buffer ETFs — what they are, how they work, and when they can make sense in a portfolio. Erik breaks down the options mechanics behind these products, explains the risks and opportunities, and shares how active management and better analytics can improve outcomes for advisors and investors.

Key takeaways:

• Buffer ETFs offer defined downside protection and capped upside but are more complex than marketing suggests. Know the mechanics before you invest.
• These products are built from options strategies (put spreads, call options); understanding the Greeks (Delta, Theta, Gamma) is critical to managing behavior over time.
• Performance can deviate before expiration; active monitoring and dynamic management can improve results versus static laddered approaches.
• Advisors must educate clients transparently about trade-offs and set realistic expectations to avoid misunderstood risk exposures.

Listen now to learn how BufferLabs approaches engineering and managing Buffer ETFs, and why complexity demands expertise.

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• Erik Ogard on LinkedIn
• BufferLabs
• BufferLABS US Equity Dynamic Buffer ETF (BFLB)
• Shana Orczyk Sissel on LinkedIn
• Shana Orczyk Sissel on X
• Shana’s Website
• Banríon Capital Management

In this episode of What's the Alternative? host Shana Orczyk Sissel sits down with Corey Hoffstein Co-Founder and Chief Investment Officer of Newfound Research, to demystify return stacking, a modern evolution of Portable Alpha that layers diversifying strategies onto existing portfolios using capital‑efficient instruments. They contrast long‑run diversification benefits with the short‑term pain clients feel, and explain how modest, well‑structured stacks can preserve core allocations while improving risk‑adjusted outcomes.

Corey and Shana walk through the role of leverage, practical implementation choices, and sensible sizing heuristics to minimize client friction. The conversation delivers actionable guidance on designing stacks that enhance diversification without triggering performance anxiety, plus perspectives on where this trend is headed in wealth management.

Key takeaways:

• Return stacking lets you add diversifying exposures via leverage and derivatives without cutting core holdings.
• Prudently used leverage can be a diversification tool, not just a risk amplifier.
• Practical sizing: modest, diversified stacks tend to balance benefits and client acceptance.
• Designing for behavioral time, reducing visible short‑term pain, is crucial to keeping clients invested in statistically sound strategies.

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Connect with us!

• Corey Hoffstein on LinkedIn
• Corey Hoffstein on X
• Newfound Research
• Return Stacked ETFs
• Shana Orczyk Sissel on LinkedIn
• Shana Orczyk Sissel on X
• Shana’s Website
• Banríon Capital Management

Investing involves risk of loss. Past performance does not guarantee future results.

In this episode of What’s the Alternative? host Shana Orczyk Sissel sits down with Michael Marone, Co-Founder & Co-Chief Investment Officer at Crescent Rock Capital, a global equity long-short hedge fund manager.

They dive deep into the realities of running a long-short strategy in today’s market—how to think about shorting in a world structurally tilted against short sellers, why “boring” ideas often make the best shorts, and how shifts in market structure, AI, small caps, and deglobalization are reshaping the opportunity set for active managers and allocators.

Whether you’re an advisor, allocator, or sophisticated individual investor, this conversation offers a practical framework for evaluating hedge funds, understanding risk, and positioning portfolios in a changing world.

Key Takeaways:

• Why effective shorting often comes from “boring,” fundamentally sound companies facing marginal deterioration—not flashy frauds or meme names.
• How changes in market structure, including the rise of passive investing, have created both headwinds and unique opportunities for active long-short managers.
• Why small caps may be one of the ripest areas for active management, and how to think about quality, liquidity, and selectivity in that space.
• How to assess whether “AI is a bubble” by comparing today’s leaders to the dot-com era, and what deglobalization really means for global equity opportunities.

If you’re an advisor or investor looking to better understand hedge funds, long-short equity, and how alternatives fit into modern portfolios, this episode is for you.

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Connect with us!

• Michael Marone on LinkedIn
• Crescent Rock Capital Management
• Shana Orczyk Sissel on LinkedIn
• Banríon Capital Management

Investing involves risk of loss. Past performance does not guarantee future results.