Managing Risk Without Missing the Rally | Can You Avoid the Next Lost Decade?

How do you participate in bull markets while protecting capital during major drawdowns? In this special livestream, Dave sits down with Vince Randazzo, CMT, and Ryan Gorman, CMT, CFA, BFA, portfolio managers behind the Defender Risk Adaptive 500 ETF (SPDF), to discuss market breadth, regime-based investing, and why risk management may matter more than stock selection over the long run. We explore the concept of "lost decades," the behavioral mistakes investors make during bull and bear markets, and how breadth indicators can provide early warnings of major market shifts. Vince shares lessons learned from legendary technician Paul Desmond of Lowry Research, while Ryan explains how a systematic process can help investors avoid emotional decision-making. Whether you're an advisor, investor, or student of technical analysis, this conversation offers a practical framework for understanding market risk and building a more resilient investment process. 💡 Learn more about the Defender Risk Adaptive 500 ETF at https://tamariskcapital.com/SPDF 💬 Follow Vince's work at   / vincentrandazzo   and https://x.com/CMTRandazzo 🤝 Follow Ryan's work at   / ryan-gorman-cfa-cmt-bfa-bb629918   📃 Download the white paper "Navigating Lost Decades: Protecting Long-Term Compounding in Secular Bear Markets" here: https://bit.ly/tamariskwhitepaper 🎓 Take Dave’s FREE course on behavioral investing: https://www.marketmisbehavior.com/fre... 📘 Check out Dave’s recommended reading list: https://www.marketmisbehavior.com/rea... 👉 Follow Dave on X: https://x.com/DKellerCMT 👉 Follow Dave on Bluesky: https://bsky.app/profile/dkellercmt.b... 👉 Follow Dave on Facebook:   / marketmisbehavior   👉 Follow Dave on Instagram:   / marketmisbehavior   ⏰ Timestamps 00:00 Introduction: Risk management, market regimes, and SPDF 02:21 The "Lost Decades" research and why downside protection matters 07:24 Behavioral finance and the biggest investor mistakes 10:30 Lessons from Paul Desmond and Lowry Research 15:37 How advisors can use technical analysis and breadth indicators 20:22 Regime change vs. trend following: What's the difference? 24:34 Why market tops are a process, not an event 29:27 Using leverage to systematically buy the dip 35:37 Current market outlook and what breadth signals today 49:28 Why systematic investing beats emotional decision-making 56:49 How the Defender model evolved from decades of market history 1:00:30 Final thoughts on SPDF, market breadth, and risk management The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice. Some of the links in this description and in the video may be affiliate links, which means you pay nothing more and it helps me to make Market Misbehavior awesome! As an Amazon Associate, I earn from qualifying purchases. For full disclaimer, please see our website: https://www.marketmisbehavior.com/dis.... * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *