Fantasy vs Fundamentals: Seth Cogswell on Bubbles, Passive Flows, and What Breaks Next

In this episode of Lead-Lag Live, I sit down with Seth Cogswell, Managing Partner at Running Oak Capital, to unpack the strange market dynamic where low-quality, high-debt companies are outperforming — and why that may be setting up one of the biggest long-term buying opportunities in years.

From zombie stocks to the passive investing paradox, Seth breaks down why common-sense investing has vanished from today’s markets — and how his “buy low, sell high” discipline at Running Oak is bringing it back.

In this episode:
– Why profitable, high-quality companies are lagging speculative names
– What the “buying a Lexus for the price of a Camry” moment means for investors
– How passive flows have hollowed out the core of the market
– Why most portfolios no longer follow the buy-low, sell-high principle
– The mission behind Seth’s new educational series Not So Passively Aggressive

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