About Beyond the Noise: Markets, Investing, and the Bigger Picture
Conversations between Josh Renfro and Max Clark of the Fox Alliance that cut through the financial headlines to focus on the market trends, economic shifts, and investment themes that truly matter.
Midterm Election Predictions: Political Gridlock and Your Portfolio
The 2026 US midterm elections are approaching, and control of both the House and Senate is up for grabs. What could the outcome mean for the economy, financial markets, and your investments? In this episode, we examine the race for control of the House and Senate, share our predictions for the election results, and explore how different outcomes could impact investors. Political gridlock has historically been favorable for financial markets, but this time could be different. With the federa...
21 Oct 2026
US $40 Trillion Debt Crisis: Part 2 - Why Can't We Balance the Budget?
America's national debt has reached $40 trillion, and the federal government continues to spend far more than it brings in. So why is it so difficult to get spending under control? In Part 2 of our national debt series, we examine the structural challenges behind America's growing deficits, including the four “sacred cows” of federal spending: Social Security, Medicare, Medicaid, and national defense. Together with interest on the national debt, these line items consume more than 96% of fede...
14 Oct 2026
US $40 Trillion Debt Crisis: Part 1 - How did we get here?
The United States has officially crossed $40 trillion in national debt. Just 46 years ago, that number was less than $1 trillion. So how did we get here? In this episode, we begin a new series on the national debt and its impact on your investing strategies. The past decades of rising deficits and borrowing have been driven by many factors. We break down the tax policy, recessions, ongoing wars, entitlement programs, financial crisis, COVID era spending, and rapidly rising interest costs, th...
7 Oct 2026
Government Bond Interest Rates spike to over 5.2%: Conservative Investors Pay the Price
The 10-year Treasury yield has climbed to a level we haven’t seen since 2007. So what’s driving the move, and why does it matter to investors? In this episode, we break down the forces pushing interest rates higher, and what those higher rates are doing to bonds, mortgages, and your portfolios. For investors who have traditionally relied on bonds as the “safe” part of their portfolio, the environment has changed. Conservative investors have been left with an approach that, for the last 10 y...
30 Sept 2026
Why Greenland Matters: Geopolitics, Resources, and Markets
Greenland has been a hot topic lately in the global geopolitical landscape. Why does that matter to investors? In this episode, we look at the long history of U.S. interest in Greenland and why the Arctic is more strategically important than ever. With the new agreement now moving ahead, we explore the broader financial implications it could have, including access to critical resources and the inflationary and economic risks that come with an increasingly divided global order. Ultimately, G...
23 Sept 2026
The Family Endowment Model - Part 2: How to Apply the Yale Model to Families
What can individual investors learn from Yale’s endowment model? In this episode, we break down the Family Endowment Model and how those same principles can be adapted for individual investors. Private equity, private credit, infrastructure, real estate, and absolute return strategies can all expand opportunities beyond traditional stocks and bonds. Together, they create a broader alternative to the traditional investing approach.
16 Sept 2026
The Family Endowment Model - Part 1: The Yale Origin Story
David Swensen transformed Yale’s endowment and reshaped the way institutional investors think about diversification, risk, and private investments. In this episode, we examine the history and break down the core principles behind the Yale Model, how it performed through major market cycles, and how Swensen’s philosophy became the foundation for The Fox Alliance Family Endowment Model.
9 Sept 2026
The Death of the 60/40 Portfolio: Finale - Part 4
For more than 40 years, the traditional 60/40 portfolio benefited from powerful tailwinds for both stocks and bonds. But those conditions have changed. In the final episode of our Death of the 60/40 series, we explore why the era of passive 60/40, “set it and forget it” investing is over, and how investors may be facing lower returns with greater risk going forward. We wrap by exploring the differences between the bond and stock market of today versus the market of 1980.
2 Sept 2026
The Death of the 60/40 Portfolio: The Year of Reckoning - Part 3
For decades, the 60/40 portfolio was considered one of the most reliable approaches to investing. Then came 2022. As inflation surged and the Federal Reserve rapidly raised interest rates, stocks fell sharply, and so did bonds. The portion of the portfolio that was supposed to provide stability suffered its worst year in two centuries, leaving many investors with nowhere to hide. In Part 3 of our Death of the 60/40 series, we examine the “year of reckoning” for the traditional portfolio. Br...
26 Aug 2026
The Death of the 60/40 Portfolio - Part 2
For nearly four decades, investing in stocks has seemed almost effortless. The S&P 500 returned more than 12% annually and grew an astonishing 11,000% between 1980 and 2020. But was that level of performance normal, or was it the result of a once-in-a-generation combination of economic forces? In Part 2 of our Death of the 60/40 series, we explore the powerful tailwinds that fueled the golden era of stocks. From historically low stock ownership after the Great Depression to the rise of r...
19 Aug 2026
SpaceX Plummets 50%: What’s Going On?
SpaceX may be an extraordinary company but from it’s peak price it has declined nearly 50%. In this episode, we discuss the primary reasons for this decline. We discuss how SpaceX’s valuation appeared steep relative to the economics of its launch, Starlink and emerging AI businesses. More importantly, we examine the structural pressure created as employee and early-investor shares come out of lockup. With significantly more stock becoming available for sale, substantial additional sale ...
12 Aug 2026
Leopold: $45 Billion, 30 Days, and the 67% Collapse
In this episode, we examine Leopold Aschenbrenner’s remarkable background, the investment thesis behind his enormous AI bet, and the combination of leverage, concentration, market volatility, and financing costs that turned conviction into catastrophe. More importantly, we explore the lessons investors can take from the collapse: why a compelling long-term thesis does not guarantee a successful investment, how leverage changes the margin for error, and why risk management matters most w...
5 Aug 2026
The Death of the 60/40 Portfolio - Part 1
For decades, the 60/40 portfolio has been considered the gold standard of investing. But what if its remarkable success wasn't the result of timeless investing principles, but rather a once in a generation economic environment? In this episode of Beyond the Noise, Max Clark and Josh Renfro begin a new series exploring why they believe the traditional 60/40 portfolio is no longer equipped for today's market. They unpack the "40-year miracle" that fueled one of the greatest investing periods i...
29 Jul 2026
What Does the Iran War Have to Do with Your Mortgage Rates?
Mortgage rates have steadily climbed higher even as many investors expected the Federal Reserve to begin cutting interest rates. So what's really driving borrowing costs? In this episode of Beyond the Noise, Max Clark and Josh Renfro unpack the surprising connection between global events, inflation, and the bond market. Using the recent conflict involving Iran as a case study, they explain how disruptions in energy markets can ripple through the economy, influence inflation expectations, and ...
21 Jul 2026
Anthropic: The Fastest Growing Company in History
Artificial intelligence is changing business at an astonishing pace—but what does that actually mean for investors? In this episode of Beyond the Noise, Max Clark and Josh Renfro examine the extraordinary rise of Anthropic, one of the fastest-growing software companies in history, and explore why its growth may represent a defining moment in the broader AI investment cycle. Beyond the headline numbers, they discuss what investors should really be watching: enterprise adoption, recurring reven...
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Apple Podcasts (US)
5.0 / 5
7 ratings
Spotify
5.0 / 5
5 ratings
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