…

Money For the Rest of Us

…

J. David Stein

A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com

#523

Where You Live Matters - How Geography Contributes to Wealth

How geography contributes to economic growth and can increase or lower the cost of living. Topics covered include: ---Why living in a developing country like Costa Rica is still relatively expensive ---How Amazon and e-commerce platforms lowers the cost of living ---Why we should consider slowing down our rate of consumption ---How geography is impacting the rollout of AI Episode Sponsors LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) [NetSuite] (https://netsuite.com/david) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Market Research in Costa Rica: Costa Rica is a strong market in Central America providing many benefits.—SIS International Research & Strategy] (https://www.sisinternational.com/coverage/the-americas/latin-america-market-research/market-research-costa-rica) [World Data Country Comparison: Costa Rica & USA] (https://www.worlddata.info/country-comparison.php?country1=CRI&country2=USA) [Why is Gas so Expensive in Costa Rica? by Sarah Jordan—The Tico Times] (https://ticotimes.net/2022/03/22/why-is-gas-so-expensive-in-costa-rica) [The Trailblazers: Inter-American Highway 1940 - 1957 by Norman Wood—U.S. Department of Transportation Federal Highway Administration Highway History] (https://www.fhwa.dot.gov/infrastructure/blazer009a.cfm) [United States eCommerce Sales Growth (2018 to Q3 2024) by Jason—SellersCommerce] (https://www.sellerscommerce.com/blog/us-ecommerce-sales/) [The Era of Finance CEOs Running Retailers Is Over by Amanda Mull—Bloomberg] (https://www.bloomberg.com/news/articles/2025-01-14/why-abercrombie-and-barnes-noble-stores-are-doing-so-well) [AI set to fuel surge in new US gas power plants by Amanda ChuandJamie Smyth—The Financial Times] (https://www.ft.com/content/63c3ceb2-5e30-44f4-bd39-cb40edafa4f8) [What happened to the artificial-intelligence revolution?—The Economist] (https://www.economist.com/finance-and-economics/2024/07/02/what-happened-to-the-artificial-intelligence-revolution) [Liebreich: Generative AI – The Power and the Glory by Michael Liebreich—BloombergNEF] (https://about.bnef.com/blog/liebreich-generative-ai-the-power-and-the-glory/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

15 Jan 2025

26 MINS

26:07

15 Jan 2025

#522

Should You Retire Early and Live Outside Your Home Country? with Joshua Sheets

In episode 506, Joshua shares the pros and cons of living outside of your home country. He convinces David why he needs more than one passport. Finally, Joshua makes a strong case for not retiring, and if one does, under what circumstances. Episode Sponsors [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) [Acorns] (https://acorns.com/david) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [https://www.radicalpersonalfinance.com] (https://www.radicalpersonalfinance.com/) Related Episodes [446: Die with Zero: Why You Should Start Spending Now] (https://moneyfortherestofus.com/446-die-with-zero-why-you-should-start-spending-now/) [437: How to Live Like You Are Already Retired] (https://moneyfortherestofus.com/437-live-as-if-retired/) [371: Find Your Retirement Investing and Living Style] (https://moneyfortherestofus.com/371-find-your-retirement-investing-and-retirement-living-style/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

08 Jan 2025

39 MINS

39:15

08 Jan 2025

#521

Optimization, AI and Opting Out with Coco Krumme

In our final episode of the year, I converse with author and data scientist Coco Krumme about the benefits and costs of optimization in finance, industry, and our daily lives. We explore AI and its overlap with optimization. We also consider the pros and cons of life optimization and finally discuss the extreme challenge of opting out. Episode Sponsors [NetSuite] (https://netsuite.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Optimal Illusions: The False Promise of Optimization by Coco Krumme—Penguin Random House] (https://www.penguinrandomhouse.com/books/670624/optimal-illusions-by-coco-krumme/) [cocofolio.com] (https://cocofolio.com/) [Coco Krumme—LinkedIn] (https://www.linkedin.com/in/coco-krumme/) Related Episode [480:Beyond Faster (T+1) Trade Settlement: The Hidden Costs of Optimization] (https://moneyfortherestofus.com/480-hidden-costs-of-optimization/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

18 Dec 2024

34 MINS

34:23

18 Dec 2024

#520

Indexing Bubble and Asset Class Returns Still Revert to the Mean

How asset class returns move in cycles with periods of above-average returns followed by periods of lower returns. How has the rise of passive indexing led to higher stock valuations, and what does that mean for markets? Sponsors [NetSuite] (https://netsuite.com/david) - Download the CFO’s Guide to AI and Machine Learning [LegalZoom - Use code David10 to 10% off] (https://legalzoom.com/) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [The Equity Risk Premium: Nine Myths (JPM Series) by Rob Arnott—Research Affiliates] (https://www.researchaffiliates.com/publications/articles/1064-equity-risk-premium-myths) [The Greatest Scourge in Factorland: Revaluation Alpha = Fake Alpha (JPM Series) by Rob Arnott—Research Affiliates] (https://www.researchaffiliates.com/publications/articles/1065-revaluation-alpha-is-fake-alpha) [PASSIVE INVESTING AND THE RISE OF MEGA-FIRMS by Hao Jiang, Dimitri Vayanos, and Lu Zheng—NBER] (https://www.nber.org/system/files/working_papers/w28253/w28253.pdf) [Limits to Diversification: Passive Investing and Market Riskby Lily H. Fang, et al.—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4928631) Related Episodes [503: U.S. Stocks Have Never Been This Overhyped or Expensive] (https://moneyfortherestofus.com/503-us-stocks-overhyped-expensive/) [500: The S&P 500 Index and the Decade Ahead] (https://moneyfortherestofus.com/500-sp-500-index/) [468: Lessons from Japan’s 34 Years of Stock Market Underperformance] (https://moneyfortherestofus.com/468-japans-34-year-market-underperformance/) [390: Are BlackRock and Vanguard Too Big and Powerful?] (https://moneyfortherestofus.com/390-blackrock-vanguard-too-powerful/) [234: Index But Don’t Herd] (https://moneyfortherestofus.com/234-index-dont-herd/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

11 Dec 2024

30 MINS

30:30

11 Dec 2024

#519

U.S. Stocks Have Never Been This Overhyped or Expensive

What are the tangible and intangible factors that have contributed to long-term U.S. stock market outperformance compared to the rest of the world? Despite these advantages, why might we still want to continue to be globally diversified? Sponsors [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) [LegalZoom - Use code David10 to 10% off] (https://legalzoom.com/) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [American productivity still leads the world—The Economist] (https://www.economist.com/special-report/2024/10/14/american-productivity-still-leads-the-world) [The Outlook for Long-Term Economic Growth by Charles I. Jones—Federal Reserve Bank of Kansas City] (https://www.kansascityfed.org/Jackson%20Hole/documents/9771/GrowthOutlookPanel.pdf) [How Much Will Global Warming Cool Global Growth? by Ishan B. Nath, Valerie A. Ramey, and Peter J. Klenow—UC San Diego] (https://econweb.ucsd.edu/~vramey/research/NRK_GlobalWarming_GlobalGrowth.pdf) [Technology and demand drivers of productivity dynamics in developed and emerging market economies by Alistair Dieppe, Neville Francis, and Gene Kindberg-Hanlon—European Central Bank] (https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2533~116a422ae6.en.pdf) [Capitalism is in worse shape in Europe by Ruchir Sharma—The Financial Times] (https://www.ft.com/content/5d12c8ed-c184-4d15-af6d-6523f7f875c8) [The Mother of All Bubbles by Ruchir Sharma—The Financial Times] (https://www.ft.com/content/49cca8d7-7b6e-47e3-a50c-9557d7c85fc0?shareType=nongift) [The Curious Incident of the Elevated Profit Margins by James Montier—GMO] (https://www.gmo.com/americas/research-library/the-curious-incident-of-the-elevated-profit-margins-part-1_whitepaper/) [Federal Surplus or Deficit [-] as Percent of Gross Domestic Product - FRED] (https://fred.stlouisfed.org/series/FYFSGDA188S) [Euro area government deficit at 3.6% and EU at 3.5% of GDP—eurostat] (https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-22102024-ap) [End of an era: The coming long-run slowdown in corporate profit growth and stock returns by Michael Smolyansky—Federal Reserve Board] (https://www.federalreserve.gov/econres/feds/files/2023041pap.pdf) [Should investors just give up on stocks outside America?—The Economist] (https://www.economist.com/finance-and-economics/2024/11/21/should-investors-just-give-up-on-stocks-outside-america) Related Episodes [500: The S&P 500 Index and the Decade Ahead] (https://moneyfortherestofus.com/500-sp-500-index/) [499: What Makes an Economy Prosperous? Spotlight on Cuba and Argentina] (https://moneyfortherestofus.com/499-what-makes-an-economy-prosperous/) [343: Why the Productivity Slowdown Could Lead to Lower Living Standards] (https://moneyfortherestofus.com/343-productivity/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

04 Dec 2024

23 MINS

23:56

04 Dec 2024

#518

Should You Invest in Nuclear Energy?

Why has there been renewed interest in nuclear power generation in the last couple of years, and how can we invest in it? Topics covered include: ---Why did Microsoft sign an agreement to reopen a nuclear reactor at the infamous Three Mile Island nuclear facility ---How much does nuclear energy contribute to global power generation ---Why is demand for electricity accelerating ---What are the advantages and challenges with nuclear energy ---What investment vehicles individuals can use to invest in nuclear energy Episode Sponsors [NetSuite] (https://netsuite.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Microsoft in deal for Three Mile Island nuclear power to meet AI demand by Myles McCormickandJamie Smyth—The Financial Times] (https://www.ft.com/content/ddcb5ab6-965f-4034-96e1-7f668bad1801) [Nuclear Power Was Once Shunned at Climate Talks. Now, It’s a Rising Star. by Brad Plumer—The New York Times] (https://www.nytimes.com/2024/11/15/climate/cop29-climate-nuclear-power.html) [Inside Diablo Canyon Nuclear Power Plant | BG2 w/ Bill Gurley & Brad Gerstner—YouTube] (https://www.youtube.com/watch?v=TYCTfrec6FE) [Q&A - Germany’s nuclear exit: One year after—Clean Energy Wire] (https://www.cleanenergywire.org/factsheets/qa-germanys-nuclear-exit-one-year-after) [Fukushima Daiichi Accident—World Nuclear Association] (https://world-nuclear.org/information-library/safety-and-security/safety-of-plants/fukushima-daiichi-accident) [Chernobyl Accident 1986—World Nuclear Association] (https://world-nuclear.org/information-library/safety-and-security/safety-of-plants/chernobyl-accident) [Nuclear Energy in a Low-Carbon Energy Future—NEI] (https://www.nei.org/resources/reports-briefs/nuclear-energy-in-a-low-carbon-energy-future) [Electricity Mid-Year Update - July 2024—IEA] (https://www.iea.org/reports/electricity-mid-year-update-july-2024/executive-summary) [What is U.S. electricity generation by energy source?—U.S. Energy Information Administration] (https://www.eia.gov/tools/faqs/faq.php?id=427&t=3#:~:text=In%202023%2C%20about%204%2C178%20billion,facilities%20in%20the%20United%20States.&text=About%2060%25%20of%20this%20electricity,%2C%20petroleum%2C%20and%20other%20gases) [How old are U.S. nuclear power plants, and when was the newest one built?—U.S. Energy Information Administration] (https://www.eia.gov/tools/faqs/faq.php?id=228&t=3) [Global price of Uranium—FRED] (https://fred.stlouisfed.org/series/PURANUSDM) Investments Mentioned Pelican Energy Partners Sprott Physical Uranium Trust Performance (SRUUF) GlobalX Uranium ETF (URA) VanEck Uranium and Nuclear ETF (NLR) Sprott Uranium Miners ETF (URNM) Sprott Junior Uranium Miners ETF (URNJ) Related Episodes [469: Which Will Perform Better: Berkshire Hathaway or Utility Stocks?] (https://moneyfortherestofus.com/469-berkshire-hathaway-vs-utility-stocks/) [384: Has a Commodities Bull Market Supercycle Started? If So, How Do You Invest in It?] (https://moneyfortherestofus.com/384-commodity-supercycle/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

20 Nov 2024

20 MINS

20:40

20 Nov 2024

#517

Strategies and Systems Want Your Money

We explore what strategy and systems are and how we craft and change them. We consider how investment strategies and financial systems have changed over the decades and why this matters to your financial decisions. Sponsors LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Ruminating on Asset Allocation by Howard Marks—Oaktree Capital] (https://www.oaktreecapital.com/insights/memo/ruminating-on-asset-allocation) [Michael E. Porter—Harvard Business School] (https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6532) [This Is Strategy by Seth Godin—Simon & Schuster] (https://www.simonandschuster.com/books/This-Is-Strategy/Seth-Godin/9798893310160) [Victor Meets the Boglehead by Victor Haghani & James White—VettaFi Advisor Perspectives] (https://www.advisorperspectives.com/articles/2024/11/05/victor-meets-boglehead) [Static vs Dynamic Asset Allocation; Victor Meets the Boglehead—Bogleheads.org] (https://www.bogleheads.org/forum/viewtopic.php?t=442753&sid=396ca5fe44c967a62c22ca22c942df3d) [Tim Cook on Why Apple’s Huge Bets Will Pay Off ByBen Cohen—The Wall Street Journal] (https://www.wsj.com/style/tim-cook-interview-apple-intelligence-vision-pro-48c59018) Related Episodes [491: The Five Layers of Investing] (https://moneyfortherestofus.com/491-layers-of-investing/) [451: How Much Should You Invest in Stocks? The Art of Position Sizing in a Volatile Market] (https://moneyfortherestofus.com/451-how-much-should-you-invest-in-stocks-the-art-of-position-sizing-in-a-volatile-market451/) [420: Does a 60/40 Balanced Portfolio Still Work?] (https://moneyfortherestofus.com/420-do-60-40-portfolios-work/) [397: How To Invest Based on Cycles] (https://moneyfortherestofus.com/397-investing-cycles/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

13 Nov 2024

29 MINS

29:21

13 Nov 2024

#516

Episode 500: The S&P 500 Index and the Decade Ahead

In the 500th episode of Money for the Rest of Us, we focus on the S&P 500 Index. How has the index changed, and why have U.S. stocks performed so well? Will U.S. stocks only return 3% in the next decade, as Goldman Sachs predicts. We also discuss major themes covered on Money for the Rest of Us over 500 episodes and what are our plans for the future. Thanks for being a part of Money for the Rest of Us over the past decade. Sponsors [NetSuite] (https://netsuite.com/david) - Download the CFO’s Guide to AI and Machine Learning [Shopify] (https://shopify.com/david) - Sign up for a $1 per month trial period Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Select Sector Indices Consultation on Constituent Weightings Calculations – Results—S&P Global] (https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20240903-1474128/1474128_sp-select-sector-indices-results-20240903.pdf) [What Does an Election Year Mean for the Market?—S&P Global] (https://www.spglobal.com/spdji/en/brochure/article/what-does-an-election-year-mean-for-the-market/) [The Great Rotation: A potential unwinding of hyper-concentration in the US may favor balanced global portfolios byBrian Chingono—Verdad] (https://mailchi.mp/verdadcap/the-great-rotation) [The Great Rotation (Part 2): The United States’ outsizeweighting in commercial indices appears unjustified by its share of global GDP byBrian Chingono—Verdad] (https://mailchi.mp/verdadcap/great-rotation-part-two) [Decade of Big S&P 500 Gains Is Over, Goldman Strategists Say by Sagarika Jaisinghani—Bloomberg] (https://www.bloomberg.com/news/articles/2024-10-21/s-p-500-s-decade-of-big-gains-is-over-goldman-strategists-say) [David Stein LinkedIn Post—LinkedIn] (https://www.linkedin.com/posts/jdstein_investing-goldmansachs-s-activity-7255623748408487936-oLB1/?utm_source=share&utm_medium=member_desktop) [Vanguard warns investors over company stake limits by Steve Johnson,Will Schmitt,andBrooke Masters—The Financial Times] (https://www.ft.com/content/031b715a-6dca-4132-b783-ba8852b7d6e5) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

06 Nov 2024

27 MINS

27:23

06 Nov 2024

#515

What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

We explore eight things that contribute to a healthy, growing economy and where Cuba and Argentina have fallen short. Topics covered include: ---Why Cuba continues to have rolling energy blackouts ---Why economic sanctions frequently don't work ---How Argentina's President Millei is taking a "chainsaw" to the nation's economy ---Why emerging markets will need to change their export-oriented growth trajectory ---What are the risks to the long-term health of the U.S. economy Sponsors [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) [LegalZoom - Use code David10 to 10% off] (https://legalzoom.com/) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Cuba is out of supplies and out of ideas—The Economist] (https://www.economist.com/the-americas/2024/07/21/cuba-is-out-of-supplies-and-out-of-ideas) [Cuba plunged into crisis by long power blackouts by Ed Augustin—The Financial Times] (https://www.ft.com/content/5c18e729-f150-4e01-9395-4f831799367c) [Power Outage Plunges All of Cuba Into Darkness by Frances Robles—The New York Times] (https://www.nytimes.com/2024/10/18/world/americas/cuba-power-plant-blackout.html) [Why Economic Sanctions Backfire: The Role of Emigration in the Venezuelan Case by Nicolás Idrobo—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4930490) [The Impact of the Cuban Adjustment Act on Cuban Immigrants in the US by Tamarys Bahamonde—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4751897) [How is Javier Milei performing after nearly 11 months in office? by Michael StottandCiara Nugent—The Financial Times] (https://www.ft.com/content/dfd94c80-47d2-4b34-a382-e6fe2c244361) [The weakest links in the global economy are on the mend by Ruchir Sharma—The Financial Times] (https://www.ft.com/content/34268245-df43-4fe7-acc9-f2ab28cb02d5) [Argentina’s poverty rate soars above 50% under Javier Milei by Ciara Nugent—The Financial Times] (https://www.ft.com/content/ccaeb4f5-6818-4aec-8112-cbf3639ad557) [Argentina Inflation Slows to 2021 Levels in Win For Milei by Manuela Tobias—Bloomberg] (https://www.bloomberg.com/news/articles/2024-10-10/argentina-inflation-slows-to-lowest-level-since-2021-under-milei) [Argentina’s economy minister strikes defiant note on default risk by Ciara NugentandMichael Stott—The Financial Times] (https://www.ft.com/content/ae822056-66d9-43fe-b76f-da8e88780c85) [Argentine Debt Rises Out of Distress Territory on Milei Reforms by Kevin Simauchi—Bloomberg] (https://www.bloomberg.com/news/articles/2024-10-28/argentine-debt-rises-out-of-distress-territory-on-milei-reforms) [Argentina Scrapped Its Rent Controls. Now the Market Is Thriving. by Ryan Dubé—The Wall Street Journal] (https://www.wsj.com/world/americas/argentina-milei-rent-control-free-market-5345c3d5) [Developing Countries Can’t Count on Manufacturing to Supercharge Growth by Kai Schultz and Shruti Srivastava—Bloomberg] (https://www.bloomberg.com/news/articles/2024-10-21/global-economy-no-longer-driven-by-rapid-manufacturing-growth) Related Episodes [411: Is Emerging and Frontier Markets Investing Still Worth It? – With Asha Mehta] (https://moneyfortherestofus.com/411-asha-mehta/) [409: What Is the IMF and Why Is It Controversial?] (https://moneyfortherestofus.com/409-imf/) [233: Is An Emerging Markets Crisis Imminent?] (https://moneyfortherestofus.com/233-emerging-markets-crisis-imminent/) [93: Capitalism, Complexity and Cuba] (https://moneyfortherestofus.com/mny093-capitalism-complexity-cuba/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

30 Oct 2024

22 MINS

22:43

30 Oct 2024

#514

Ten Things I've Learned About Investing in the Past Decade

In episode 498, David shares how his investing has changed over the past ten years and lessons you can apply to your portfolio. 1--Document Your Journey 2--Keep Experimenting 3--Be Willing to Adopt New Asset Classes 4--Be Very Patient 5--Trade Less, Focus On Long-term Drivers 6--Monetary Diversification 7--Don't Focus on Relative Performance 8--Ignore the Noise 9--Take Your Time 10-There Is No Right Way to Invest Sponsors [NetSuite] (https://netsuite.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [The Investor Podcast 668: What I Learned About Investing w/ Stig Brodersen] (https://www.theinvestorspodcast.com/episodes/what-i-learned-about-investing-stig-brodersen/) Related Episodes [454: How To Invest – Ten Rules of Thumb for Individual Investors] (https://moneyfortherestofus.com/454-how-to-invest/) [423: A “Safe” 6% Yield: The Case for Investment Grade CLOs] (https://moneyfortherestofus.com/423-collateralized-loan-obligation/) [372: When Should You Sell An Investment?] (https://moneyfortherestofus.com/372-when-should-you-sell-an-investment/) [336: Own What Is Real] (https://moneyfortherestofus.com/336-own-what-is-real/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

23 Oct 2024

30 MINS

30:24

23 Oct 2024

#513

How to Fix the Retirement Savings Crisis

Why 401k and other defined contribution schemes are flawed, leading to a generation of workers unprepared for retirement. What are the solutions to fix the mess. Topics ---Why 401k and other defined contributions haven't worked, despite their popularity ---Why defined benefit pension plans declined ---Why 401k plans are treated like emergency funds ---How to combine the best of 401k and defined benefit pension plans Sponsors LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [The Shift that Redefined Retirement Security by Shashwat Vidhu Sher—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4629607) [Was the 401(k) a Mistake? by Michael Steinberger—The New York Times Magazine] (https://www.nytimes.com/2024/05/08/magazine/401k-retirement-crisis.html) [Who Has Retirement Accounts? New Data Reveal Inequality in Retirement Account Ownership by Maria G. Hoffman, Mark A. Klee and Briana Sullivan—United States Census Bureau] (https://www.census.gov/library/stories/2022/08/who-has-retirement-accounts.html) [U.S. Retirement Assets: Data in Brief—Congressional Research Service] (https://crsreports.congress.gov/product/pdf/R/R47699) [Where do my CPP contributions go?—CPP Investments] (https://www.cppinvestments.com/for-canadian/where-do-my-cpp-contributions-go/) Related Episodes [460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes.] (https://moneyfortherestofus.com/460-should-you-be-invested-100-stocks-before-and-during-retirement-a-recent-study-says-yes/) [441: What If Social Security Had Been Privatized?] (https://moneyfortherestofus.com/private-social-security/) [279: Why All Retirees Should Consider an Income Annuity] (https://moneyfortherestofus.com/279-income-annuity/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

16 Oct 2024

25 MINS

25:20

16 Oct 2024

#512

Are You Taking Enough Aspirational Risk?

Why we need distinct risk buckets: balancing our natural loss aversion with the allure of opportunities that offer the potential for massive upside. Topics covered include: ---What is modern portfolio theory, and what are some of its flaws ---Why so many people have gotten wealthy by being undiversified ---How to balance personal risk, market risk, and aspirational risk ---How prospect theory explains our attraction to positively skewed opportunities ---Why most people won't get wealthy unless they take some aspirational risk Sponsors [NetSuite] (https://netsuite.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Portfolio Selection by Harry Markowitz—The Journal of Finance, Vol. 7, No. 1. (Mar., 1952), pp. 77-91] (https://www.math.hkust.edu.hk/~maykwok/courses/ma362/07F/markowitz_JF.pdf) [Safety First and the Holding ofAssets by A. D. Roy—Econometrica, Vol. 20, No. 3 (Jul., 1952),pp. 431-449] (https://www.scribd.com/document/81177910/Roy-Safety-First-1952) [The Misbehavior of Markets: A Fractal View of Financial Turbulence byBenoit Mandelbrot andRichard L. Hudson—Hachette Book Group] (https://www.hachettebookgroup.com/titles/benoit-mandelbrot/the-misbehavior-of-markets/9780465043576/) [Beyond Markowitz: A Comprehensive Wealth Allocation Framework for Individual Investors by Ashvin B. Chhabra—The Journal of Wealth Managment, Vol. 7, No. 4, pp 8-34, Spring 2005] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=925138) [The Wealth of Households: 2021: Current Population Reports by Briana Sullivan, Donald Hays, and Neil Bennett—Census.gov] (https://www.census.gov/content/dam/Census/library/publications/2023/demo/p70br-183.pdf) [Average, Median, Top 1%, and all United States Net Worth Percentiles—DQYDJ] (https://dqydj.com/net-worth-percentiles/) [PROSPECT THEORY AND STOCK MARKET ANOMALIES by Nicholas C. Barberis, Lawrence J. Jin, and Baolian Wang—NBER WORKING PAPER SERIES] (https://www.nber.org/system/files/working_papers/w27155/w27155.pdf) Related Episodes [82: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity] (https://moneyfortherestofus.com/482-unlocking-the-power-of-positive-skewness-strategies-for-investing-business-and-creativity/) [460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes.] (https://moneyfortherestofus.com/460-should-you-be-invested-100-stocks-before-and-during-retirement-a-recent-study-says-yes/) [421: Beware of Survivorship Bias When Investing] (https://moneyfortherestofus.com/421-beware-of-survivorship-bias-when-investing/) [Investing Rule One: Avoid Ruin] (https://moneyfortherestofus.com/250-avoid-ruin/) [229: Stop Maximizing Your Returns Using Modern Portfolio Theory] (https://moneyfortherestofus.com/229-stop-maximizing-investments-using-modern-portfolio-theory/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

09 Oct 2024

25 MINS

25:45

09 Oct 2024

#511

Plus episode excerpts: ETF Size, the Long-term Impact of QE, and Stock Market Inelasticity

This week on the podcast, we share excerpts from Plus episode 484 on ETF size and the impact of QE, as well as Plus episode 493 on stock market inelasticity. You can learn more about [Money for the Rest of Us Plus here. ] (https://moneyfortherestofus.com/join/) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

02 Oct 2024

27 MINS

27:30

02 Oct 2024

#510

The Federal Reserve Cut Interest Rates. What Should We Do Now?

What does the Federal Reserve's policy rate cut mean for our portfolios? Will interest rates keep falling? What changes should we make? Topics include: ---What determines interest rates, and where are those drivers currently ---What is the best estimate of bond returns ---How duration works and why it changes ---What are some current fixed income investment options Sponsors LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Asset Camp] (https://assetcamp.com/) [FedWatch—CME Group] (https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html) [Summary of Economic Projections—US Federal Reserve] (https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20240918.pdf) [Investors may be getting the Federal Reserve wrong, again—The Economist ] (https://www.economist.com/finance-and-economics/2024/01/24/investors-may-be-getting-the-federal-reserve-wrong-again) [Term Premium on a 10 Year Zero Coupon Bond—Federal Reserve Bank of St. Louis] (https://fred.stlouisfed.org/series/THREEFYTP10) [Yield to Maturity Is Always Received as Promised by Richard J. Cebula] (https://www.economics-finance.org/jefe/econ/CebulaYangpaper.pdf) [and Bill Z. Yang—Journal of Economics and Finance] (https://www.economics-finance.org/jefe/econ/CebulaYangpaper.pdf) [The Truth about Yield by Jason Bove and Mark Willauer—J.P. Morgan] (https://am.jpmorgan.com/us/en/asset-management/institutional/insights/portfolio-insights/fixed-income/fixed-income-perspectives/the-truth-about-yield/) Related Episodes [464: More Ways to Lock in Higher Yields in Case Interest Rates Fall] (https://moneyfortherestofus.com/464-lock-in-high-yields-2/) [463: How to Lock in Higher Yields in Case Interest Rates Fall] (https://moneyfortherestofus.com/463-lock-in-higher-yields/) [455: Easier Investing, Richer Life: TIPS Ladders to Annuities] (https://moneyfortherestofus.com/454-tips-ladder/) [418: Bond Investing Masterclass] (https://moneyfortherestofus.com/418-bond-investing-masterclass/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

25 Sep 2024

28 MINS

28:07

25 Sep 2024

#509

When to Sell Equity or Borrow: A Guide for Homeowners, Students, and Artists

How do home equity investments, income share agreements, and music royalties work, and how can you participate? Topics covered include: ---How a home equity investment differs from a home mortgage ---What is the cost of home equity investments ---How funding education through income share agreements has changed ---Why artists sell royalties to their work ---How individuals can invest in music royalties Sponsors [NetSuite] (https://netsuite.com/david) [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Unlock Product Guide—Unlock] (https://www.unlock.com/wp-content/uploads/2023/04/Unlock-Product-Guide-May-2023-Version.pdf) [Point and Atalaya Capital Management Close Oversubscribed $141 Million Home Equity Investment Rated Securitization—Global Newswire] (https://www.globenewswire.com/news-release/2024/05/30/2890516/0/en/Point-and-Atalaya-Capital-Management-Close-Oversubscribed-141-Million-Home-Equity-Investment-Rated-Securitization.html) [What Colleges Should Know About Income Share Agreements and Private Education Loan Requirements by Rich Williams—Homeroom] (https://blog.ed.gov/2022/03/what-colleges-should-know-about-income-share-agreements-and-private-education-loan-requirements/) [CFPB settles claims against operator of training program arising out of income share agreements by John L. Culhane, Jr.&Thomas Burke—Consumer Finance Monitor] (https://www.consumerfinancemonitor.com/2023/11/30/cfpb-settles-claims-against-operator-of-training-program-arising-out-of-income-share-agreements/) [Bond market: Bowie Bonds and the Evolution of the Bond Market—Faster Capital] (https://fastercapital.com/content/Bond-market--Bowie-Bonds-and-the-Evolution-of-the-Bond-Market.html) Related Episodes [493: The Housing Affordability Crisis: What Caused It and How to Fix It] (https://moneyfortherestofus.com/493-the-housing-affordability-crisis-what-caused-it-and-how-to-fix-it/) [349: Forward and Reverse Mortgages: When To Take Them Out and When to Pay Them Off] (https://moneyfortherestofus.com/349-mortgages/) [307: Income Share Agreements—Good for Students or Investors?] (https://moneyfortherestofus.com/307-income-share-agreements/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

18 Sep 2024

24 MINS

24:00

18 Sep 2024

#508

The Housing Affordability Crisis: What Caused It and How to Fix It

What caused the 40% price increase in houses and rents, and what are governments doing to try to fix the problem. Topics covered include: ---Why 50% of the global population is frustrated with the lack of affordable housing ---How the housing collapse as part of the Great Financial Crisis contributed to today's affordability crisis ---How central bank QE programs have magnified the housing crisis ---How restrictive zoning and short-term rentals contribute to the housing crisis ---What governments are doing to encourage more housing supply ---What individuals can do until housing becomes more affordable Sponsors [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Concern over housing costs hits record high across rich nations by Valentina RomeiandSam Fleming—The Financial Times] (https://www.ft.com/content/f206f6f1-1536-4b29-ad8d-2421fadfc64b) [Home Price to Median Household Income Ratio (US)—Longtermtrends] (https://www.longtermtrends.net/home-price-median-annual-income-ratio/) [Home Ownership Affordability Monitor—Federal Reserve Bank of Atlanta] (https://www.atlantafed.org/center-for-housing-and-policy/data-and-tools/home-ownership-affordability-monitor) [AMERICA'S RENTAL HOUSING 2024—Joint Center for Housing Studies of Harvard University] (https://www.jchs.harvard.edu/americas-rental-housing-2024) [America retains “rentburdened” status—Moody's] (https://www.moodys.com/web/en/us/about/insights/data-stories/q3-2023-rental-affordability.html) [U.S. 2024 and 2025 Mid-Year Outlook Report—AirDNA] (https://www.airdna.co/blog/us-mid-year-outlook-2024-2025) [ARIZONA’S NEW HOUSING LAWSEXPLAINED—Tempe YIMBY] (https://tempeyimby.org/2024/05/27/arizonas-new-housing-laws-explained/) [What Kalamazoo (Yes, Kalamazoo) Reveals About the Nation’s Housing Crisis by Conor Dougherty—The New York Times] (https://www.nytimes.com/2024/08/22/business/economy/housing-crisis-kalamazoo-michigan.html) [How Rent Controls Are Deepening the Dutch Housing Crisis by Cagan KocandSarah Jacob—Bloomberg] (https://www.bloomberg.com/news/articles/2024-08-28/netherlands-rent-controls-deepen-housing-crisis) Related Episodes [389: Is Airbnb Intensifying the Housing Crisis?] (https://moneyfortherestofus.com/airbnb-housing-crisis/) [357: Is a Housing Crash Coming?] (https://moneyfortherestofus.com/357-housing-crash/) [238: The U.S. Is More Socialist Than Denmark Regarding Home Mortgages] (https://moneyfortherestofus.com/238-u-s-socialist-denmark-home-mortgages/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

11 Sep 2024

23 MINS

23:54

11 Sep 2024

#507

The Power of Optionality: Small Bets, Big Payoffs

In this episode, we explore the concept of optionality—how small, strategic decisions can lead to outsized rewards with limited downside risk. From ancient philosophy to modern financial strategies, discover how recognizing and seizing options can unlock opportunities in both life and investing. Topics covered include: ---How call and put options work ---The difference between American and European style options and why it matters ---Why options are positively skewed ---Examples of using optionality in business and life ---Why it can be challenging to commit when an option is "in the money" Sponsors [Shopify] (https://shopify.com/david) - Sign up for a $1 per month trial period [NetSuite] (https://netsuite.com/david) - Download the CFO’s Guide to AI and Machine Learning Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Antifragile by Nassim Nicholas Taleb—Penguin Random House] (https://www.penguinrandomhouse.com/books/176227/antifragile-by-nassim-nicholas-taleb/) [The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return by Mihir Desai—Harper Academic] (https://www.harperacademic.com/book/9780544911130/the-wisdom-of-finance/) [Refuse to Choose!: Use All of Your Interests, Passions, and Hobbies to Create the Life and Career of Your Dreams—Penguin Random House] (https://www.penguinrandomhouse.com/books/593218/refuse-to-choose-by-barbara-sher/) [An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager—Penguin Random House] (https://www.penguinrandomhouse.com/books/564814/an-economist-walks-into-a-brothel-by-allison-schrager/) Related Episodes [482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity] (https://moneyfortherestofus.com/482-unlocking-the-power-of-positive-skewness-strategies-for-investing-business-and-creativity/) [268: How To Better Manage Risk] (https://moneyfortherestofus.com/268-better-manage-risk/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

04 Sep 2024

22 MINS

22:31

04 Sep 2024

#506

The Five Layers of Investing - Which Layers Is Your Portfolio Allocated?

In Episode 491, we explore the five layers of investing, including which assets fit into each layer, and give examples of advertisements targeting each layer. The five layers are: ---1. Short-term trading ---2. Longer-term speculations ---3. Individual securities ---4. Diversified portfolios focused on underlying drivers and factors ---5. Maximum diversification with few changes and just a few holdings Episode Sponsors [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) Show Notes [Asset Camp] (https://assetcamp.com/) [The Role of Emotions in Financial Decisions by David Tuckett—ResearchGate] (https://www.researchgate.net/publication/297606881_The_Role_of_Emotions_in_Financial_Decisions) [Morningstar Active Passive Barometer] (https://www.morningstar.com/lp/active-passive-barometer) Related Episodes [486: How Retail Traders Lose Big While Enriching Wall Street] (https://moneyfortherestofus.com/486-retail-traders-enrich-wall-street/) [431: The Long-term Bullish Case for Gold] (https://moneyfortherestofus.com/431-the-long-term-bullish-case-for-gold/) [306: Three Approaches to Asset Allocation] (https://moneyfortherestofus.com/306-asset-allocation/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

28 Aug 2024

31 MINS

31:13

28 Aug 2024

#505

Should You Invest in Private Equity?

How do buyouts, venture capital, and growth equity work? Has private equity outperformed the stock market, and can individual investors pursue these investment strategies? Topics covered include: ---How are private equity funds structured, and what are the fees ---How is private equity performance measured, and how has it performed ---Why does private equity have such a large dispersion of returns compared to the public stock market ---What is private equity dry powder, and why is there much of it ---What are some ways individuals can invest in private equity and why should they use caution in doing so Sponsors LinkedIn Jobs – [Use this link to post your job for free on LinkedIn Jobs] (https://linkedin.com/david) [NetSuite] (https://netsuite.com/david) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Understanding Private Fund Performance by Kaitlin Hendrix and Mamdouh Medhat—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4905494) [What Drives Private-Equity Performance Persistence? New Deal-Level Evidence by Axel Buchner and Susanne Espenlaub and Abdul Mohamed—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4904483) [Unlocking the Power of Relationships: Limited Partner Networks and Performance in Private Equity by José Carlos Franco de Abreu Neto and Saito Richard—SSRN] (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4880637) [Private equity dry powder growth accelerated in H1 2024 by Dylan Thomas and Annie Sabater—S&P Global] (https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-dry-powder-growth-accelerated-in-h1-2024-82385822) [Private Equity Gets Creative to Buy Time for More Gains. Clients Say Pay Me Now by Allison McNeelyandDawn Lim—Bloomberg] (https://www.bloomberg.com/news/articles/2024-07-23/private-equity-gets-creative-to-buy-time-for-more-gains-clients-say-pay-me-now) Related Episodes [458: Dissecting Stock Returns: Financial Engineering or Genuine Growth?] (https://moneyfortherestofus.com/458-financial-engineering/) [440: Beware of Platform Risk] (https://moneyfortherestofus.com/440-platform-risk/) [350: How to Invest in Startups on Equity Crowdfunding Platforms?] (https://moneyfortherestofus.com/350-crowdfunding-startups/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

21 Aug 2024

28 MINS

28:15

21 Aug 2024

#504

Making Better Investment and Life Decisions - Episode 203 Remastered

This week, we release one of David's favorite episodes from six years ago, Episode 203: Is Investing More Like Poker or Chess. Topics covered include: ---What is the difference between chess and poker. ---Why we need to separate the decision process from the outcome. ---How to improve the quality of ourinvestmentdecisions. ---What are are wu-wei and qi and what role do they play in better decision making. Sponsors [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) [Betterment - the automated investing and savings app] (https://www.betterment.com/) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke] (https://www.amazon.com/gp/product/0735216355/) [Thinking Fast and Slow by Daniel Kahneman] (https://www.amazon.com/gp/product/0374533555/ref=as_li_qf_asin_il_tl?tag=globalwanderi-20) [The Tao of Pooh by Benjamin Hoff] (https://www.amazon.com/gp/product/0140067477/ref=as_li_qf_asin_il_tl?tag=globalwanderi-20) [Trying Not to Try: Ancient China, Modern Science, and the Power of Spontaneity by Edward Slingerland] (https://www.amazon.com/gp/product/077043763X/ref=as_li_qf_asin_il_tl?tag=globalwanderi-20) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

14 Aug 2024

23 MINS

23:44

14 Aug 2024

#503

Why the Market Has Sold Off and What Should You Do

In episode 489, we examine three factors that contributed to this week's big stock market declines, analyze whether a recession is imminent, and review David's recent portfolio changes. Topics covered include: ---The benefits of looking at market and economic trends monthly ---How bad was the recent U.S. employment report and what is the Sahm Rule ---What are leading economic indicators saying about recession risk ---Why the Federal Reserve will be lowering its policy rate, leading to lower cash yields ---Why the Japanese yen strengthened, leading to market turmoil ---Why investors are rotating from large cap growth to small cap value stocks ---How David locked in higher yields Sponsors [NetSuite] (https://netsuite.com/david) [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) Insiders Guide Email Newsletter Get our [free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter] (https://moneyfortherestofus.com/insiders-guide/) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Transcript of Chair Powell’s FOMC Press Conference July 31, 2024—The Federal Reserve] (https://www.federalreserve.gov/mediacenter/files/fomcpresconf20240731.pdf) [Goolsbee Says Fed Won’t Overreact to One Month’s Data by Catarina SaraivaandAnanya Chag—Bloomberg] (https://www.bloomberg.com/news/articles/2024-08-02/goolsbee-says-fed-won-t-overreact-to-one-month-s-data) [Congressional Budget Office Updates Baseline: Deficit Spending is 27 Percent Higher Than Previously Estimated—U.S. House Budget Committee] (https://budget.house.gov/press-release/congressional-budget-office-updates-baseline-deficit-spending-is-27-percent-higher_than-previously-estimated) Investments Mentioned Vanguard Growth ETF (VUG) Vanguard Small Cap Value (VBR) iShares International Developed Small Cap Value Factor ETF (ISVL) Invesco BulletShares 2031 Corporate Bond ETF (BSCV) iShares Large Cap Max Buffer ETF (MAXJ) BlackRock AAA CLO ETF (CLOA) Related Episodes [485: Should You Invest in Defined Outcome (Buffer) ETFs?] (https://moneyfortherestofus.com/485-buffer-etfs/) [476: Is Small Cap Dead? Why You Shouldn’t Abandon Small Company Stocks] (https://moneyfortherestofus.com/476-is-small-cap-dead/) [472: Is the Economy as Bad as People Think?] (https://moneyfortherestofus.com/472-is-the-economy-as-bad-as-people-think/) [464: More Ways to Lock in Higher Yields in Case Interest Rates Fall] (https://moneyfortherestofus.com/464-lock-in-high-yields-2/) [463: How to Lock in Higher Yields in Case Interest Rates Fall] (https://moneyfortherestofus.com/463-lock-in-higher-yields/) [423: A “Safe” 6% Yield: The Case for Investment Grade CLOs] (https://moneyfortherestofus.com/423-collateralized-loan-obligation/) [302: Investing is Not Knowing] (https://moneyfortherestofus.com/302-investing-not-knowing/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

07 Aug 2024

27 MINS

27:44

07 Aug 2024

#502

Should You Invest in an Ethereum ETF?

What is the investment case for Ethereum, and what are the risks? A straightforward review of what ether and Ethereum are, how they work, and what it will take for the Ethereum blockchain to be successful. Topics covered include: ---Who launched Ethereum ETFs and what are the fees ---How Ethereum differs from Bitcoin ---Examples of applications built on the Ethereum blockchain including NFTs, stablecoins, DAOs, and tokenized real-world assets ---How Ethereum has evolved to lower fees, reduce supply, cut its energy use, and increase capacity ---What is Ethereum staking and how much can investors earn doing so ---What will cause ether to go up in price Sponsors [Shopify] (https://shopify.com/david) [NetSuite] (https://netsuite.com/david) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Spot Ethereum ETFs begin trading today: Here's what you need to know by Jason Shubnell—The Block] (https://www.theblock.co/post/306812/spot-ethereum-etfs-begin-trading-today-heres-what-you-need-to-know) [The spot Ethereum ETFs' first week by the numbers by James Hunt—The Block] (https://www.theblock.co/post/307998/the-spot-ethereum-etfs-first-week-by-the-numbers) [The Idols NFT—theidols.io] (https://www.theidols.io/) [Read Write Own by Chris Dixon—readwriteown.com] (https://readwriteown.com/) [Ethereum is the Only Institution-Friendly Smart Contract Chain by Qiao Wang—Medium] (https://medium.com/alliancedao/ethereum-is-the-only-institution-friendly-smart-contract-chain-b6a0ac199b6f) [EthereumETH Staking—Coinbase] (https://www.coinbase.com/earn/staking/ethereum) [5 Ways to Stake Your Crypto Assets—Staking Rewards] (https://www.stakingrewards.com/journal/infographics/5-ways-to-stake-your-crypto-assets) [Ethereum's Dencun Upgrade: Unleashing Scalability and Efficiency—bitpay] (https://bitpay.com/blog/ethereums-dencun-upgrade/) [Solana vs. Ethereum: Which Is Better in 2024? —KuCoin] (https://www.kucoin.com/learn/crypto/solana-vs-ethereum-key-differences-and-insights) Related Episodes [462: Now Should You Buy a Bitcoin ETF?] (https://moneyfortherestofus.com/462-should-you-buy-a-bitcoin-etf/) [373: Are Stablecoins Safe? Should You Own Them?] (https://moneyfortherestofus.com/373-stablecoins/) [368: How to Invest in Web3, DAOs, and the Metaverse] (https://moneyfortherestofus.com/web3-investing/#podcast-episode-368-investing-in-web3) [339: How To Make Money with BlockFi, Dai, and the Evolving DeFi Ecosystem] (https://moneyfortherestofus.com/339-defi/) [335: Are Non-Fungible Tokens (NFTs) Good Investments?] (https://moneyfortherestofus.com/335-nft/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

31 Jul 2024

27 MINS

27:39

31 Jul 2024

#501

Are We Heading for a 2030s Depression? - Understanding Global Economic and Population Shifts

What we can monitor and do now in preparation for a 2030s depression, which may or may not arrive. Topics covered include: ---Why ITR Economicshas been predicting a 2030s depression for over a decade. ---What are the early warning signs we can monitor for increasing risk of economic and financial turmoil ---What are U.S. and global population predictions by the Congressional Budget Office and the United Nations ---What is the status of Social Security and what would it take to make it more sustainable ---What are the impacts of a slowing or shrinking population ---How should we invest, and what other financial actions should we take in the face of long-term depression forecasts Sponsors [Delete Me – Use code David20 to get 20% off] (https://joindeleteme.com/david20) [Monarch Money – Get an extended 30-day free trial] (https://monarchmoney.com/david) Our Premium Products [Asset Camp] (https://assetcamp.com/) [Money for the Rest of Us Plus] (https://moneyfortherestofus.com/hub/) Show Notes [Top 5 Causes of the 2030s Great Depression—ITR Economics] (https://blog.itreconomics.com/blog/top-5-causes-2030s-great-depression) [The Demographic Outlook: 2024 to 2054—Congressional Budget Office] (https://www.cbo.gov/publication/59697) [Testimony on Social Security’s Finances—Congressional Budget Office] (https://www.cbo.gov/publication/60281) [World Population Prospects 2024—The United Nations] (https://population.un.org/wpp/) [World Population Prospects 2024: Graphs/Profiles—The United Nations] (https://population.un.org/wpp/Graphs/DemographicProfiles/Line/900) [America is uniquely ill-suited to handle a falling population—The Economist] (https://www.economist.com/briefing/2024/04/18/america-is-uniquely-ill-suited-to-handle-a-falling-population) [Suddenly There Aren’t Enough Babies. The Whole World Is Alarmed. byGreg IpandJanet Adamy—The Wall Street Journal] (https://www.wsj.com/world/birthrates-global-decline-cause-ddaf8be2) Related Episodes [479: National Debt Master Class Finale – What To Do] (https://moneyfortherestofus.com/479-national-debt-master-class-finale-what-to-do/) [468: Lessons from Japan’s 34 Years of Stock Market Underperformance] (https://moneyfortherestofus.com/468-japans-34-year-market-underperformance/) [395: How Population Trends Will Impact Growth, Inflation, Investing and Well Being] (https://moneyfortherestofus.com/395-population-and-investing/) See Privacy Policy at [https://art19.com/privacy] (https://art19.com/privacy) and California Privacy Notice at [https://art19.com/privacy#do-not-sell-my-info] (https://art19.com/privacy#do-not-sell-my-info) . ... Read more

24 Jul 2024

28 MINS

28:13

24 Jul 2024

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#523

Where You Live Matters - How Geography Contributes to Wealth

#522

Should You Retire Early and Live Outside Your Home Country? with Joshua Sheets

#521

Optimization, AI and Opting Out with Coco Krumme

#520

Indexing Bubble and Asset Class Returns Still Revert to the Mean

#519

U.S. Stocks Have Never Been This Overhyped or Expensive

#518

Should You Invest in Nuclear Energy?

#517

Strategies and Systems Want Your Money

#516

Episode 500: The S&P 500 Index and the Decade Ahead

#515

What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

#514

Ten Things I've Learned About Investing in the Past Decade

#513

How to Fix the Retirement Savings Crisis

#512

Are You Taking Enough Aspirational Risk?

#511

Plus episode excerpts: ETF Size, the Long-term Impact of QE, and Stock Market Inelasticity

#510

The Federal Reserve Cut Interest Rates. What Should We Do Now?

#509

When to Sell Equity or Borrow: A Guide for Homeowners, Students, and Artists

#508

The Housing Affordability Crisis: What Caused It and How to Fix It

#507

The Power of Optionality: Small Bets, Big Payoffs

#506

The Five Layers of Investing - Which Layers Is Your Portfolio Allocated?

#505

Should You Invest in Private Equity?

#504

Making Better Investment and Life Decisions - Episode 203 Remastered

#503

Why the Market Has Sold Off and What Should You Do

#502

Should You Invest in an Ethereum ETF?

#501

Are We Heading for a 2030s Depression? - Understanding Global Economic and Population Shifts