Quality Investing in an AI Age: Are the Moats Really Cracking?
In this episode of Actively Speaking, host Steve Bleiberg is joined by David Siino, lead portfolio manager for Capital Reinvestment strategies, to unpack why quality investing has struggled recently despite its strong long-term track record.
The Death of Software is Greatly Exaggerated
We look at the view that agentic AI will render enterprise software obsolete. While valuations have been pressured, leading software companies continue to show durable fundamentals driven by barriers to replacement such as deep system integration, regulatory requirements, and high switching costs.
AI Will (Eventually) Turbocharge Productivity and Profits
We are optimistic about AI's long-term impact on productivity and profits, but our perspective suggests the optimists' scenario is acutely implausible. That is, it will take longer than consensus expects for the latest tech wave to turbocharge productivity and profits. It always does.
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Quality Investing in an AI Age: Are the Moats Really Cracking?
May 1, 2026 - 32 min listen
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The Death of Software is Greatly Exaggerated
March 24, 2026 - 10 min read
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AI Will (Eventually) Turbocharge Productivity and Profits
March 9, 2026 - 25 min read
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TD Global Investment Solutions (TDGIS) represents the institutional asset management businesses of TD Bank Group (TD). In the United States, investment services are offered by Epoch Investment Partners, Inc. (TD Epoch). We offer investment solutions to corporations, pension plans, endowments and foundations, insurance companies and intermediaries, among others. We strive to better understand our client's needs and offer solutions to meet those needs using our broad expertise across asset classes.
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Investment InsightsMarch 19 2026
We discuss how active management has struggled to outperform cap-weighted indices in recent years, with only about 29-44% of managers beating the MSCI World Index from 2023 to 2025. This trend is linked to the increasing concentration of the index in a few large stocks that have delivered exceptional returns. Understanding when active managers outperform helps inform investment decisions amid evolving market conditions.
Thought Leadership25 min. readSteven D. Bleiberg, Managing Director, Portfolio Manager, TD Epoch
Macro InsightsMay 05 2025We explore the four ways that the new global economic order differs from the current order, the four policy priorities for the Trump Administration, the outlook for 2025-2026 and implications for investors.
Thought Leadership25 min readKevin Hebner, PhD, Managing Director, Global Investment Strategist, TD Epoch
Investment InsightsJanuary 05 2026We discuss the rapid rise of AI and how it is reshaping capital expenditures, industry infrastructure, stock market returns, and business models, while also examining the risks and signals of a potential investment bubble.
Podcast27 min listenJustin Howell, CFA, Managing Director, Portfolio Manager, TD Epoch
Victor Anthony, Director, Portfolio Manager and Research Analyst, TD Epoch