The Right Way to Use ETFs for Success

Speaker: 00:00:11

Ryan Nauman Host Adjusted for Risk:

Hello, everyone, and welcome

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to Adjusted for Risk podcast

from the shores of Lake Tahoe.

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Investors often try to learn from

and emulate the best investors in

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the world, like Warren Buffett.

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It can be easier said than done, but

recent innovation within the ETF space

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has brought these types of investment

strategies to the retail investor.

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My next guest is an industry expert in the

ETF space and is going to shed some light

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onto the topic and talk about how ETFs

are transforming portfolio construction.

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Right, enough from me.

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I've already talked enough.

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Let's go ahead and bring

on the star of the show.

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I am very honored and excited to welcome

back for a second time Adam Patti.

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Adam is the CEO at Vista Shares.

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Adam, thank you so much

for coming on the show.

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It's an honor to have

you on for a second time.

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I'm glad I didn't scare you

away after the first one.

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Can you please tell us a little bit

more about yourself and Vista Shares?

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Adam Patti CEO VistaShares:

I'm thrilled to be here.

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Thank you very much.

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It's always a pleasure.

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Yeah, Vista Shares, we got…

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We're, we're a young company.

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We launched our first

ETF in December of: 2024

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We're already above 2 billion

in assets, so we've we've done

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quite well and very fortunate to

be involved with this initiative.

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What we're trying to do is really

just build better products.

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We- we're never gonna be

everything to everybody.

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We're never gonna have

hundreds of products.

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We're trying to really create

solutions for investors to

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improve their portfolio results.

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It's, maybe a little

old-fashioned, but that's our goal.

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And we put a lot of work into the types of

strategies we bring to the to, to market

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Ryan: And that's fantastic.

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That's great growth.

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Adam Patti, CEO VistaShares: Yeah

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Ryan: in two years?

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That's pretty fantastic.

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Doing

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Adam Patti, CEO VistaShares: even,

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Ryan: great things.

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Adam Patti, CEO VistaShares:

Like a year and a half.

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I don't know, a year and a half.

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Yeah, no, really, it's

r- really fortunate.

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And look it's about having good products.

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When you have good products, it,

you gotta get the word out, but

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it takes a long time to do that.

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But once you do, hopefully you see the

uptick, and that's what we're seeing

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Ryan: Yeah, that's fantastic.

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And I like what you said is you're not

trying to do anything, reinvent the wheel.

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You're not trying to do it…

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You're just trying to do what's

worked and bring product that

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helps the end investor build better

portfolios, investment portfolios.

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Because at the end of the day, Adam,

that's what it's all about, right?

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So I love that.

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I talked about Warren Buffett.

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People are always trying to emulate his

investment strategy, learn from him,

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and he's consistently emphasized buying

great businesses at reasonable prices

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and holding them for the long term.

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Do you think if Buffett were starting

his career today, how do you think

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he'd view the modern ETF landscape

where there's so many new ETFs?

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Some of them, sorry Adam, there's some

ETFs out there that go way over my

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head, like I don't know what's going on

here, these single stock leverage ETFs.

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he still build a portfolio stock

by stock or would ETFs be part

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of that toolkit, do you think?

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Adam Patti, CEO VistaShares: I think

ETFs would certainly be there to provide

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exposure to sectors or themes that perhaps

he wants to gain exposure to before he

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finds his next acquisition or investment.

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But certainly Warren Buffett is known

for, being an incredibly talented

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value investor who has very severe

metrics that he follows before

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making an investment in a company.

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So I don't see that changing.

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But certainly ETFs are great

exposure vehicles for him or anybody.

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And so I think that's, And look, ETF

market is y- it's complicated, right?

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There's many different flavors

like you just mentioned.

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There's trading strategies or investment

strategies, and within each one of

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those categories there are many flavors.

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So the most important thing for investors

is to really look under the hood.

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Don't look at the name of the fund.

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Look what's in the portfolio, and that's

really why we started Vistashares.

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My partner, John McNeil who was a

former president of Tesla, he was

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trying to get exposure to AI, and he

looked at all the AI ETFs out there and

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said, "Wait a minute, this is not AI.

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This is Mag 7, or it's

consumer-facing software companies

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that may be implementing AI.

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But that's not how you

get exposure to AI."

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So that's really how

Vistashares really started.

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It's about looking under the hood

and building portfolios that actually

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represent what we're trying to achieve

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Ryan: I'm glad you brought that up,

Adam, bec- I say it a lot on this show

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and in content is you gotta look beyond

the name or even the description, the

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investment objective, and really look

into what, what's in that portfolio.

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And that's what's great about

ETFs more so than mutual funds.

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You can…

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That transparency is there, right?

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Adam Patti, CEO VistaShares:

Transparency is the key.

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Ryan: diligence

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Adam Patti, CEO VistaShares:

Yes, absolutely.

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Read the prospectus.

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Just dig in.

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Dig in.

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Do your d- do your research

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Ryan: Yeah.

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Because I feel as, especially now, and

we're gonna get into it shortly, p-

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some of these firms are very creative in

their marketing, very creative to help

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distinguish their products from others.

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So you gotta get through that

marketing and those terms to find

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out, okay what are they doing?

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Are they doing what

they say they're doing?

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And what are they holding?

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Are we really getting

exposure to AI, like you said?

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Adam Patti, CEO VistaShares: Yeah.

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And does it fit into your long-term

plan as, in, in your portfolio?

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Because some of the products

are very hyper concentrated.

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You just gotta, again, going

back to it just do your research.

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Look under the hood

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Ryan: Yep.

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So going back to Warren Buffett, let's

say Warren came to you and Adam you

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to design a ETF portfolio for the next

decade, and it's not just outperform,

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but to withstand multiple market cycles.

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What core charac- characteristics

would that portfolio have and

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what lessons should advisors take

from that exercise, do you think?

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Adam Patti, CEO VistaShares:

That's a great question.

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What an honor that would

be for him to ask me.

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So that's an unlikely scenario for sure.

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But look, again, I'm old-fashioned,

so I think you gotta start with

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a well-constructed portfolio

that provides diversification

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in different market cycles.

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So you know you don't wanna

load the boat in any one theme

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or sector or equity sleeve.

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You wanna have equities, you wanna

have fixed income, you wanna have

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commodities, you wanna have real estate.

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You wanna have everything in there

to build the portfolio that's durable

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and that hopefully withstands market

corrections in certain sectors, right?

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If something's going down, hopefully

something's staying stable.

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You wanna have ballast

in your portfolio, right?

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So that's where the fixed income

is or some downside protection.

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So I, I think the start for anybody,

Warren Buffett or anybody, would

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be to put together that long-term,

well-diversified portfolio.

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And, have some cash as well to,

deploy against opportunities

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that you find along the way.

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So for a Warren Buffett, obviously he's

gonna be buying companies or investing

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in solid value-oriented companies.

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But for an average advisor or investor,

you wanna be-- you know, have a

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certain portion set aside where you

can capitalize on a theme, aI is

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an incredible growth opportunity.

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We launched today robotic space

and defense super cycle ETFs.

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All of those represent

incredible growth opportunities.

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Those are not majority

holders for your portfolio.

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Those are minority holders, right?

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So you know, you just gotta design

your portfolio for what you're

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wanting to achieve over time.

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Ryan: And that's why I

feel great about ETFs.

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Like you said, there's a…

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You can do a lot of different

thematic plays there, like you

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said, with the new ETFs you just

launched and the other you offer.

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A lot of options for different

thematic plays, whether it's

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long-term or shorter term.

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I'm really glad you brought up just

diversification and how important it is.

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I think sometimes we forget about

the importance of diversification,

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especially when are ripping higher.

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You've got the Mag Sevens.

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Like, why invest overseas or in

mid caps when you can just go

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Ma- Mag Seven or mega tech caps?

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Bill Ackman, he's built his

reputation on making high

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conviction concentrated investments.

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Most advisors, however, like you

said, are trained to broadly.

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How should advisors think about balancing

concentration versus diversification?

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And can ETFs provide an effective

way to express high conviction ideas

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without taking uncompensated risks?

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Adam Patti, CEO VistaShares:

That's a great question.

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First of all, diversification

benefits, run out after a certain

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amount, number of holdings, right?

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Having five hundred holdings,

across your portfolio versus having

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fifty is not necessarily helping.

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And there's been a lot of research

on that, so I'm not gonna rehash that

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'cause that's not really my expertise.

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But I think ETFs are exceptional

opportunity-- provide exceptional

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opportunities for different

exposures that, that don't

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cause the d- the concentration

risk that you're talking about.

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Look, if you have, equities, there's

nothing wrong with having, a concentrated

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equity single stock position, right?

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Having, fifteen, twenty, twenty-five

different securities that you

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have high conviction around

as part of your equity sleeve.

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But if you're looking at the AI or

electrification or robotics or whatever

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it is, certainly if you have the skill and

time and-- to do the research, which most

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pe-people don't pick some stocks, sure.

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But most people don't have that

expertise and the time to monitor it

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and really understand the companies.

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So ETFs provide, a great

way to get that exposure.

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But again, even there, you wanna look

under the hood and make sure that

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they hold the types of securities

that you're trying to get exposure to.

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Ryan: Yeah, that's a great point.

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And Adam, stock picking's really hard.

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It's really hard.

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It's hard, like you said, you have

to have time, you have to know

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what you're looking for, you wanna

know what you're investing in.

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That's why I don't hold

any individual stocks.

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I just let the pros, like you, all the

smart people, invest- pick the stocks

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and what they're good at, and I'll invest

it, in them, versus the individual.

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Because it's hard

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Adam Patti, CEO VistaShares: It is

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Ryan: time-consuming

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Adam Patti, CEO VistaShares: And even if

you know what stock to buy, it there's

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an entry point and an exit point.

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When I used to trade stocks, and I'm not

a stock trader at all I'm very bad at

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it I always seemed to know how to get

in, but I never knew how to get out.

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Oh, it's gonna keep…

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It's down, but it's gonna keep going.

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It's just not a game that I can play.

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Certainly, some people can.

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I prefer well-diversified portfolios

and, looking at what the experts do.

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Like you mentioned Bill Ackman.

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We're big fans of Bill Ackman, as and

Stanley Druckenmiller, and David Tepper.

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These are some of the best

stock pickers in the world.

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And when you go into a more of a

stock picker's market like we're

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in now it's, it makes sense to

try to, harness their intellect

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Ryan: Yeah, I completely agree.

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Let them do it.

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Let them do it.

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I'll pay that extra fee

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Adam Patti, CEO VistaShares: Yeah.

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Ryan: their professional experience

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Adam Patti, CEO VistaShares: Sure

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Ryan: S- and once you buy a stock, I

don't think people realize how hard it is.

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Like you said, that getting

out of it removing that

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position, be emotional, right?

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You'd be like I bought this one, this…"

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And do I really wanna sell it?

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Adam Patti, CEO VistaShares:

That's the killer.

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The emo- the best traders, investors

always talk about not having that

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emotion, but they f- you know,

they have it as well in some cases.

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Stanley Druckenmiller, there was something

on X I saw, he was talking exactly

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about that topic, about how hard it is

to divorce yourself from the emotion

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to be able to, be a great investor

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Ryan: Yep, exactly.

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So we know the wealth management

space advisor, it's very competitive

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right now, just like in the ETF space.

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Very competitive.

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Advisors, they're increasingly

expected to deliver institutional

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quality portfolios while also managing

taxes, fees, and client behavior.

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They've got a lot to manage just

on the investment management side.

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Where do you believe ETFs provide

the greatest competitive advantage in

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helping advisors improve client outcomes?

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Adam Patti, CEO VistaShares:

Look, going back to, what ETFs

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have always been great at, right?

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Low fees, transparency,

intraday trading, right?

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Tax efficiency, right?

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ETFs just have certain structural

benefits above mutual funds, which

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is why ETFs have, usurped mutual

funds as the preferred vehicle

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for most investors at this point.

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I think ETFs should be a core part

of anyone's portfolio, look, why not?

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If you're buying the

S&P 500, buy VOO, right?

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It bought, what is it,

three bips, five bips?

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I don't even know what it is now.

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It, it gives you that exposure and so in,

so inexpensively and in a tax efficient

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manner that it's silly not to build

your portfolio using these building

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blocks and then, you use other types

of ETFs to round out your exposure.

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Provide exposure to places or corners

of the market that you want e-

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exposure to again, inexpensively.

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Even 75, 95 bips, people say, "Oh,

that's expensive," but not really.

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If you're getting, y- a special

exposure or a special outcome it

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costs money to build those exposures.

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It's a lot cheaper than

mutual funds for sure.

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Ryan: Yeah, and Adam, I remember back,

dating myself here, aging myself,

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back when I started, 75 bps isn't very

expensive compared to what it was 20 years

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ago to get good investment management.

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Adam Patti, CEO VistaShares: Absolutely.

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Yeah, and there's a lot of sophisticated

strategies out there that investors

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can now get exposure to in an ETF

structure for not much in the fee realm.

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Like our income products, right?

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These are sophisticated option strategies

run by experts actively on a daily basis.

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It's an expensive infrastructure hit

to build that type of team and to be

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able to run that kind of strategy.

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But hopefully you're paying for something

good and you're getting what you expect.

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Ryan: Yeah, exactly.

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And years ago when I started,

those strategies weren't available.

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They were only available

for the ultra-high net worth

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institutions, endowments

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Adam Patti, CEO VistaShares: Absolutely

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Ryan: on.

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So let's go there for a second.

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You- there are a lot of new strategies out

there, like you said, income strategies,

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option overlay strategies, you name it.

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A lot of new innovation there,

a lot of great innovation.

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There are now more ETFs available than

there are publicly traded companies.

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Let that sink in.

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I know we've mentioned it a

lot, but that's crazy to me.

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Each with, like we said, very

compelling marketing stories.

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Marketing pitches are

getting very creative now.

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How should advisors distinguish between

products built around lasting investment

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philosophy and those designed primarily

just to capitalize on short-term trends?

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"Hey, this is trending.

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Let's go ahead and offer a product,"

versus really thinking about,

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that lasting investment philosophy

like you said at the beginning

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Adam Patti, CEO VistaShares: Look,

the ETF issuers, yeah, ETF issuers are

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notoriously good marketers for sure.

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The whole industry is.

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And, you, it's hard to

differentiate yourself.

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So you kinda have to figure out a

way to get in front of people and

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build buzz around your products.

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But the key for us is education.

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So if your ETF issuer that you're buying

products from is not providing you deep

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education on every one of their strategies

what it is, how it runs, how to use it,

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what it does to your portfolio, then

you shouldn't be buying that product.

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Because, the issuer of the ETF

should be spending the time and the

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money to build out a very robust

educational platform for advisors.

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And it's just, that's how you get

smart on the strategies, right?

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Do use their research, but then also

do your own just to make sure you're,

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again, you're getting what you expect.

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Ryan: I'm a big fan of education

and it's transparency too.

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If the ETF issuer is not willing to help

you and get into the weeds and educate

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: 00:15:39

you on some of these new, then do you

really want to, invest with that firm?

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: 00:15:44

Because the key is transparency also.

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: 00:15:48

Adam Patti, CEO VistaShares: Absolutely.

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: 00:15:48

It's critical, absolutely critical.

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: 00:15:51

They should have people that can get on

the phone and talk about the investment

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: 00:15:54

strategy, get down into the portfolio.

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: 00:15:55

And look, most people, most

firms have that, but many don't.

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: 00:15:59

They just throw a fling.

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: 00:16:00

I call it the fling and

pray strategy, right?

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: 00:16:02

Just you fling a bunch of stuff

out and that, as an issuer and

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: 00:16:05

you're praying that it works.

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: 00:16:06

That's not our strategy.

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: 00:16:07

Never been.

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: 00:16:08

But, look, it works for some

what are you gonna say about it?

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: 00:16:12

Ryan: Yeah, exactly.

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: 00:16:13

You're exactly right.

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: 00:16:14

It goes back to that

marketing, I don't know.

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: 00:16:17

Adam Patti, CEO VistaShares: Sure, sure

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: 00:16:18

Ryan: we, the ETF space we've talked

about has evolved greatly over the years.

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: 00:16:23

We've gone from passive index f-

VO, SPDRs, very vanilla index ETFs,

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: 00:16:29

to smart beta, active management.

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: 00:16:32

Now, those increasingly sophisticated

ETF strategies that you've mentioned.

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: 00:16:37

What do you believe is the next major

evolution in ETFs over the next five

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: 00:16:42

years, and how should advisors prepare

their portfolios today for this evolution?

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: 00:16:51

Adam Patti, CEO VistaShares: Watch us

and I think the products that we're

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: 00:16:53

bringing out are really in that realm.

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: 00:16:55

But, the way we look

at it is pretty simple.

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: 00:16:58

If you look from an advisor's perspective,

from a portfolio construction perspective,

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: 00:17:02

it really comes down to three categories.

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: 00:17:04

There's growth equity, there's

income, and downside protection.

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: 00:17:08

Those are the three categories that,

at least I believe, are the most

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: 00:17:12

important for portfolio construction.

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: 00:17:14

And that's where we're gonna be focusing

our time and, we'll be bringing out a s-

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: 00:17:18

again, not a lot of products, but several

products to address, make sure that

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: 00:17:22

we are firmly committed to each one of

those three leg, three legs of the stool.

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: 00:17:27

Because, that's what you need in different

market cycles, particularly when the

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: 00:17:30

volatility has been like it is, right?

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: 00:17:32

You can't all be in growth equity.

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: 00:17:33

You wanna have balance in your portfolio.

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: 00:17:35

You wanna have downside protection.

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: 00:17:36

And, and income is no longer

a retiree's game, right?

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: 00:17:40

It's young investors looking

to stack dividends and build

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: 00:17:43

up a nest egg over time.

355

: 00:17:45

So income has become very important

to a very broad set of investors and

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: 00:17:49

you need to have products that appeal

to them and that they understand

357

: 00:17:53

Ryan: Yeah, it's fantastic.

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: 00:17:54

I'm really glad you brought

up downside protection.

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: 00:17:57

We do a lot of research here.

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: 00:17:59

I do…

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: 00:17:59

i'm a firm believer in that's a true

risk of investing, is losing your money.

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: 00:18:05

Give me all the upside

volatility you want, Adam.

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: 00:18:08

Standard deviation, give

me the upside volatility.

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: 00:18:11

It's protecting the downside.

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: 00:18:13

hearing more and more products that are

focusing on limiting downside protection.

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: 00:18:19

I love that you guys are doing the

same thing because at the end of

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: 00:18:22

the day, to me, that's a real risk

of investing, is losing my money.

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: 00:18:27

Adam Patti, CEO VistaShares: Absolutely.

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: 00:18:28

Y- and people, a lot of times they'll

lock in their gains and then, or lock

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: 00:18:32

in their losses, I'm sorry, by panic

selling, and you never can make that back.

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: 00:18:36

So it's better to have a well-diversified

portfolio and have that downside

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: 00:18:39

protection as a feature within the

portfolio to protect you, I think

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: 00:18:43

Ryan: Y- yep.

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: 00:18:44

You mentioned those three

pillars that you and your team at

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: 00:18:47

Vistashare are really focusing on.

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: 00:18:50

How do you…

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: 00:18:52

we see so much innovation.

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: 00:18:54

How do you and the vet- Vistashare's

team determine what types of strategies

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: 00:18:59

have staying power are worth offering

in that ETF wrapper than just chasing

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: 00:19:04

a trend and be like, "You know what?

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: 00:19:07

Let's go here.

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: 00:19:07

That's what the industry's going."

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: 00:19:09

How do you determine

what has staying power?

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: 00:19:12

Adam Patti, CEO VistaShares: We're a

little boring and old-fashioned, frankly.

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: 00:19:14

We, we talk to advisors,

we talk to investors.

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: 00:19:17

It's really n- not any

more complicated than that.

387

: 00:19:20

We talk to a lot of advisors

and investors, and we try to

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: 00:19:23

understand what their needs are,

where the holes are in the market.

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: 00:19:26

What would help them get

better portfolio outcomes?

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: 00:19:29

What products out there they

are interested in but are

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: 00:19:31

n- not constructed properly.

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: 00:19:34

We're never gonna be first

to market in anything.

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: 00:19:36

And that's okay.

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: 00:19:37

In the old game in ETFs was you had to be

first to market, you get all the assets.

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: 00:19:41

We're in it for the long term.

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: 00:19:42

So look, when we launched AIS, our

first ETF, in December '24, we, we were

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: 00:19:46

probably the 23rd AI ETF out there.

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: 00:19:49

And everyone said, "What are

you doing launching an AI ETF?"

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: 00:19:51

I said, just watch.

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: 00:19:52

Ours is very different.

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: 00:19:53

It's constructed differently.

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: 00:19:54

It's managed differently.

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: 00:19:55

It performs differently.

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: 00:19:57

And it's almost $1 billion now."

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: 00:19:58

It's, that's…

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: 00:19:59

Y- and look, we, I'm not gonna say we're

gonna replicate that success across

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: 00:20:02

every product, but it succeeded because

it is di- completely differentiated

408

: 00:20:08

from what is currently out there.

409

: 00:20:10

And bec- the reason why it's

differentiated is because we designed

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: 00:20:13

it to the needs of investors.

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: 00:20:15

We're not just in a back room saying,

"Let's put together an index using

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: 00:20:19

SIC codes and slap it together and

call it something and bring it out."

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: 00:20:22

It's, we talk to people, we construct

something, we bring it out to people,

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: 00:20:25

we get feedback on it, we come

back, and that's a long process.

415

: 00:20:29

It could take us a year

to develop a product.

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: 00:20:31

Look, the products we launched

today, space, robotics, and defense

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: 00:20:34

ETFs, three of them, none of them

are even close to first to market,

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: 00:20:38

but they all use our proprietary,

patent-pending bill of materials process.

419

: 00:20:41

It's all managed by our investment

committee made up of some

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: 00:20:44

of the global luminaries in

technology and those technologies.

421

: 00:20:48

And that is what we

believe differentiates.

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: 00:20:52

Ryan: Yeah, it's fantastic.

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: 00:20:53

And like you said, can you tell

us more about that strategy real

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: 00:20:56

quickly, your investment strategy

and building it you built that

425

: 00:21:00

you've used across all your ETFs?

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: 00:21:02

Adam Patti, CEO VistaShares:

Yeah, so we have different…

427

: 00:21:03

So what I'm referring to

is our Super Cycle ETF.

428

: 00:21:05

So we use something called

our build materials process.

429

: 00:21:09

So instead of creating a cap-weighted,

SIC code-driven i- index, what we're doing

430

: 00:21:14

is when we attack a, what we call a super

cycle, which is a, what we believe is a

431

: 00:21:19

long-term, technology-driven, fundamental

disruptive trend that's gonna last decades

432

: 00:21:24

we will go into the market, we will talk

to experts in the field, and map out the

433

: 00:21:30

supply chain in great exhausting detail.

434

: 00:21:33

Once we map out the supply chain, then

what we do is we actually create a

435

: 00:21:36

build of materials for that product.

436

: 00:21:39

But using AIS, our AI ETFs.

437

: 00:21:41

We're mapping out the supply chain for

AI data centers and semiconductors.

438

: 00:21:45

And then what we do is we l- overlay the

bill of materials to try to determine

439

: 00:21:49

how important each segment of the supply

chain is a- from an economic perspective.

440

: 00:21:53

Cooling in an AI data center, how

much of a, how much of every dollar

441

: 00:21:57

is going into cooling systems,

and that's how we weight them.

442

: 00:22:00

Then we go in and we look at all, all

the companies, and we scrub through

443

: 00:22:03

their financials to make sure that

they're getting a significant portion

444

: 00:22:06

of their revenue from the actual theme.

445

: 00:22:10

For cooling for instance, we don't

care about cooling companies,

446

: 00:22:12

we don't care about c- cooling

companies that are in data centers.

447

: 00:22:15

We only care about cooling companies

that are serving AI data centers.

448

: 00:22:19

So it's an exhausting analysis.

449

: 00:22:23

High value.

450

: 00:22:23

Hedge funds have done stuff

like this for many years.

451

: 00:22:26

Nobody in the ETF market does it.

452

: 00:22:28

It's too, i- it's too

time-consuming and expensive.

453

: 00:22:31

But that's how we build our products.

454

: 00:22:34

Ryan: And it distinguishes your

products from others, like you said,

455

: 00:22:37

which is very important in this space.

456

: 00:22:39

Like you said, nobody else does it

because of the resources, but that's what

457

: 00:22:44

makes you guys special in your products.

458

: 00:22:46

And otherwise you don't have

that like you said, it just goes

459

: 00:22:49

back to marketing probably when

getting your products out there

460

: 00:22:54

Adam Patti, CEO VistaShares: Yes, agree

461

: 00:22:55

Ryan: Adam, the last

question here real quickly.

462

: 00:22:58

Who's next on your list

after Buffett and Ackman?

463

: 00:23:02

Adam Patti, CEO VistaShares:

Oh, we've got Druckenmiller.

464

: 00:23:03

We've got Druckenmiller, D-R-K-Y.

465

: 00:23:06

We've got Tepper, T-P-R-Y.

466

: 00:23:08

We've got quite a few on the

on the shelf ready to come.

467

: 00:23:12

We've covered off…

468

: 00:23:13

We didn't cover off all the major

hedge fund guys or investors.

469

: 00:23:16

What we do is we identify those that,

to your point earlier, take long-term,

470

: 00:23:20

high-conviction, concentrated positions

and hold, long holding periods.

471

: 00:23:25

So those are very suitable to

the ETF structure 'cause we don't

472

: 00:23:29

want a lot of trading daily.

473

: 00:23:30

We also don't want offsetting

positions in the portfolio where

474

: 00:23:33

it looks like they're heavy into

security, but, they're actually hedged.

475

: 00:23:36

Druckenmiller, Tepper, Ackman, of

course Buffett, and, we'll see what

476

: 00:23:40

else we bring out in the future.

477

: 00:23:43

Ryan: Maybe an adjusted for risk

478

: 00:23:45

Adam Patti, CEO VistaShares: Yeah.

479

: 00:23:46

We, yeah.

480

: 00:23:47

Why not?

481

: 00:23:47

Let's do it.

482

: 00:23:48

Let's do it

483

: 00:23:49

Ryan: we go.

484

: 00:23:49

Awesome.

485

: 00:23:50

Sign me up.

486

: 00:23:51

Adam Patti, CEO VistaShares: I love it.

487

: 00:23:52

Love it

488

: 00:23:53

Ryan: Adam, awesome conversation.

489

: 00:23:55

I knew it would be really fun.

490

: 00:23:56

I love your insights into the ETF space,

what you guys are doing at Vistashares

491

: 00:24:02

really exciting stuff, and just helping

financial advisors create better

492

: 00:24:07

investment portfolios for their clients.

493

: 00:24:09

Very important.

494

: 00:24:10

So thank you so much for coming

on the show again, and it's

495

: 00:24:14

always an honor and privilege.

496

: 00:24:16

Where can our audience get more

information about Vistashares?

497

: 00:24:20

Adam Patti, CEO VistaShares: please

go to w- our website, vistashares.com.

498

: 00:24:23

We have got a research section with a

ton of different research reports, really

499

: 00:24:27

well done and very heavy duty stuff.

500

: 00:24:29

We're upgrading our website this

summer, which is gonna have a real,

501

: 00:24:32

a n- renewed emphasis on research.

502

: 00:24:34

That's probably in the next month

or two we'll have that launched.

503

: 00:24:37

Check us out on X,

VistasharesX is our handle.

504

: 00:24:40

We try to put up real research where,

we do product marketing of course as

505

: 00:24:44

well, but if you look at what we put

up, we're pretty, we're putting up some

506

: 00:24:48

serious deep research on X, like six,

eight-thread type things with a lot of

507

: 00:24:53

sourcing and things like that to get you

smart on some of these themes quickly

508

: 00:24:58

Ryan: Yeah, that's great, Adam.

509

: 00:24:59

And hey, listeners may not agree

with this, but I do actually do

510

: 00:25:03

research before coming on these

calls, and you guys do a lot of great

511

: 00:25:07

research education on your website.

512

: 00:25:09

Kudos to you because I learned

a lot just going there too.

513

: 00:25:13

Adam Patti, CEO VistaShares: Thank you

514

: 00:25:14

Ryan: thank you, Adam, and thank

you everyone for listening to this

515

: 00:25:18

episode of Adjusted for Risk podcast.

516

: 00:25:20

You can watch all of our other

episodes on YouTube, and wherever

517

: 00:25:23

else you catch your podcasts.

518

: 00:25:25

Lastly, p- please be sure to like

and subscribe to those channels

519

: 00:25:29

and give us a follow on LinkedIn.

520

: 00:25:32

you very much and have a

great rest of your week