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    Business

    The Pain Trade Podcast

    The Pain Trade Podcast — what it costs, and what it pays.

    In markets, the pain trade is the position that hurts to hold, and pays because it hurts. Every field has one: the last rep, the lean years, the comeback nobody expected.

    Weekly in-studio conversations with people who overcame what should have broken them — in business, in markets, in health, in life.

    Hosted by Michael A. Gayed, CFA — active portfolio manager, five-time Dow Award winner, founder of Lead-Lag Media, and publisher of The Lead-Lag Report.

    Health, fitness, finance, entrepreneurship, and the struggle that connects them. New episodes weekly.

    Advertise

    Copyright: © 2023 Lead-Lag Publishing, LLC

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    Latest Episodes:
    Consistently Not Stupid: Why Boring Compounders Win When Chaos Reigns May 01, 2026
    Show notes

    Consistently Not Stupid: Why Boring Compounders Win When Chaos Reigns joins Michael A. Gayed, CFA to discuss consistently not stupid: why boring compounders win when chaos reigns. Topics covered in this episode: - Consistently Not Stupid: Why Boring Compounders Win When Chaos Reigns - Market insights from Consistently Not Stupid: Why Boring Compounders Win When Chaos Reigns - Practical takeaways for listeners GUEST: Consistently Not Stupid: Why Boring Compounders Win When Chaos Reigns --- Subscribe on YouTube: https://youtube.com/@leadlagmedia Host: Michael A. Gayed, CFA Lead-Lag Live brings on top investors, traders, and economists to discuss the most pressing issues in markets. Disclaimer: This podcast is for educational purposes only and does not constitute investment advice.

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


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    The Rise of the Machines: Humanoids, AI, and the New Global Arms Race May 01, 2026
    Show notes

    The Rise of the Machines: Humanoids, AI, and the New Global Arms Race joins Michael A. Gayed, CFA to discuss the rise of the machines: humanoids, ai, and the new global arms race. Topics covered in this episode: - The Rise of the Machines: Humanoids, AI, and the New Global Arms Race - Market insights from The Rise of the Machines: Humanoids, AI, and the New Global Arms Race - Practical takeaways for listeners GUEST: The Rise of the Machines: Humanoids, AI, and the New Global Arms Race --- Subscribe on YouTube: https://youtube.com/@leadlagmedia Host: Michael A. Gayed, CFA Lead-Lag Live brings on top investors, traders, and economists to discuss the most pressing issues in markets. Disclaimer: This podcast is for educational purposes only and does not constitute investment advice.

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


    Support the show


    Luke Oliver, KraneShares — KMLM Managed Futures May 01, 2026
    Show notes

    KMLM Managed Futures joins Michael A. Gayed, CFA to discuss lead-lag live: luke oliver, kraneshares — kmlm managed futures. Topics covered in this episode: - Lead-Lag Live: Luke Oliver, KraneShares — KMLM Managed Futures - Market insights from KMLM Managed Futures - Practical takeaways for listeners GUEST: KMLM Managed Futures --- Subscribe on YouTube: https://youtube.com/@leadlagmedia Host: Michael A. Gayed, CFA Lead-Lag Live brings on top investors, traders, and economists to discuss the most pressing issues in markets. Disclaimer: This podcast is for educational purposes only and does not constitute investment advice.

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


    Support the show


    Brendan Ahern, KraneShares — KSPY & China May 01, 2026
    Show notes

    KSPY & China joins Michael A. Gayed, CFA to discuss lead-lag live: brendan ahern, kraneshares — kspy & china. Topics covered in this episode: - Lead-Lag Live: Brendan Ahern, KraneShares — KSPY & China - Market insights from KSPY & China - Practical takeaways for listeners GUEST: KSPY & China --- Subscribe on YouTube: https://youtube.com/@leadlagmedia Host: Michael A. Gayed, CFA Lead-Lag Live brings on top investors, traders, and economists to discuss the most pressing issues in markets. Disclaimer: This podcast is for educational purposes only and does not constitute investment advice.

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


    Support the show


    Alex Shahidi, Evoke Advisors — RPAR Risk Parity ETF May 01, 2026
    Show notes

    RPAR Risk Parity ETF joins Michael A. Gayed, CFA to discuss lead-lag live: alex shahidi, evoke advisors — rpar risk parity etf. Topics covered in this episode: - Lead-Lag Live: Alex Shahidi, Evoke Advisors — RPAR Risk Parity ETF - Market insights from RPAR Risk Parity ETF - Practical takeaways for listeners GUEST: RPAR Risk Parity ETF --- Subscribe on YouTube: https://youtube.com/@leadlagmedia Host: Michael A. Gayed, CFA Lead-Lag Live brings on top investors, traders, and economists to discuss the most pressing issues in markets. Disclaimer: This podcast is for educational purposes only and does not constitute investment advice.

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


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    This ETF Lets You Buy SpaceX and Anthropic Right Now Apr 13, 2026
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    Physical AI Is a $40 Trillion Market — S&P Top 10 Already 40% Concentrated Apr 05, 2026
    Show notes

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


    Support the show


    Shiller CAPE at 2000 Bubble Levels — Households 30% Over-Allocated to Stocks Apr 05, 2026
    Show notes

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


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    Oil Hits $140, Fed Is Trapped — Infrastructure Capital Still Sees April Rally Apr 05, 2026
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    The Old Rules of Portfolio Construction Are Dead — New Playbook for RIAs in 2026 Apr 05, 2026
    Show notes

    Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive.


    Support the show


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