Lawrence Hamtil: The Farmer Mentality, Software's Cycle, and Investing with Irreplaceable Capital

<p>Todd sits down with Lawrence Hamtil, principal at Fortune Financial Advisors in Kansas, for a wide-ranging conversation on what it means to manage other people&#39;s money responsibly in a market fixated on AI and mega-cap momentum. Lawrence shares why a sector-neutral, roughly equal-weighted approach has served his clients well across cycles, how he thinks about position sizing as a fiduciary, and why he&#39;d rather apologize for underperforming in a bull market than blow up a client&#39;s irreplaceable capital.</p><p>The conversation also digs into the AI spending cycle and its parallels to the China commodity super-cycle of the 2000s, the bear and bull cases for software stocks after their massive multiple compression, and why the economics of AI monetization remain genuinely uncertain. Plus: what Midwestern roots actually mean for investment temperament, the fictional writers who shaped Lawrence&#39;s worldview, and why you won&#39;t be vibe coding the avionics on a Boeing 777 anytime soon.</p><p><em>Topics covered: minimum volatility investing, equal-weighted portfolios, fiduciary risk management, AI capex cycle, software valuations, sector-neutral portfolio construction, Midwest investing culture, and more.</em></p><p><em>Lawrence can be found on X at @lhamtil and at fortunefinancialadvisors.com. He also co-hosts the </em><a href="https://open.spotify.com/show/0eAZkSKXiEhqT7o2nNplrO?si=f843f6abf77a462e" target="_blank" rel="ugc noopener noreferrer"><em>Preferred Shares podcast</em></a><em>.</em></p><p><br></p><p>For more information, including important disclaimers, please <a href="https://www.flyoverstocks.com">⁠⁠⁠⁠visit the Flyover Stocks blog⁠⁠⁠⁠</a>.</p><p>Flyover Stocks is an educational podcast hosted by Todd Wenning.</p><p>Todd is the founder of KNA Capital, an investment adviser registered in the state of Ohio.</p><p>The views expressed on this podcast — including those of any guests — are for informational purposes only and do not necessarily reflect the views of KNA Capital or its clients.Nothing discussed should be considered investment advice or a recommendation for any particular security.</p><p>All investments involve risk, including possible loss of principal.For more information, please see KNA Capital’s Form ADV at <a href="https://www.kna-capital.com">⁠⁠⁠⁠www.kna-capital.com⁠⁠⁠⁠</a>.</p>