Money for The Rest of Us

553: Is Another Great Financial Crisis Coming? 5 Ways to Prepare

David Stein — Wed, 25 Mar 2026 23:55:41 +0000

How the Iran conflict and other developments could lead to another major financial crisis. What is different today from 2008? Why trying to seed a revolution is so risky. And finally, what can we do to prepare ourselves for the next financial crisis? Show Notes Read Trump’s full statement on Iran attacks—PBS News I Predicted […]

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Portfolio Trade: Selling SMAX, Adding ILS and DBMF

David Stein — Fri, 13 Mar 2026 20:50:42 +0000

552: AI Is Changing Me – and the Case for Good Enough

David Stein — Wed, 11 Mar 2026 22:48:13 +0000

When is good enough actually good enough? AI is reshaping how I work and live. And a member with a portfolio that’s beaten an all-in-one Vanguard LifeStrategy fund for ten years asks whether the complexity is worth it — or whether it’s time to simplify. Show Notes The Upswing: How We Came Together a Century […]

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551: What Average Really Looks Like — and Can Managed Futures Help?

David Stein — Wed, 25 Feb 2026 20:29:43 +0000

How historical and expected returns for university endowments can guide us in setting reasonable return expectations. We also analyze managed futures strategies to see how they work, how they have performed, and how to use them in your investment portfolio. Show Notes 2025 NACUBO-Commonfund Study of Endowments (NCSE) Results—NACUBO Princeton University cuts expectation for endowment […]

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550: Asset Location: Where You Invest, Where You Live, What You Can Access

Camden Stein — Wed, 11 Feb 2026 20:32:06 +0000

In this episode, we look at asset location, how to decide which investments belong in taxable, tax-deferred, and tax-free accounts, how where we live shapes the opportunities available to us, and how capital ultimately expands our choices. Show Notes The Hidden Healthcare Infrastructure Americans Cross the Border to Find—Kogod School of Business FARMWORKER SERVICE CENTER […]

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549: Why Catastrophe Bonds Are Yielding 12%, and Should You Invest?

Camden Stein — Wed, 28 Jan 2026 20:31:17 +0000

A new ETF allows individuals to earn income by insuring against natural disasters through investing in catastrophe bonds. We break down the historical returns, risk, fees, and structure of this intriguing investment opportunity. Topics covered include: Investments Mentioned Brookmont Catastrophic Bond ETF (ILS) Stone Ridge High Yield Reinsurance Risk Premium Fund (SHRIX and SHRMX) Show […]

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548: What Will Drive Financial Markets in 2026—and How to Make It Your Best Year

Camden Stein — Wed, 14 Jan 2026 19:41:05 +0000

We explore the forces likely to shape financial markets in 2026 and how to make better decisions as you pursue your goals this year. Topics covered include: Show Notes A Slightly Better You in the New Year by Roland Fryer—The Wall Street Journal Paying Not to Go to the Gym by Stefano DellaVigna and Ulrike Malmendier—American […]

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547: Debt Is For Managing Wealth, Not Creating It

Camden Stein — Wed, 17 Dec 2025 19:32:40 +0000

Should you borrow money to magnify returns in your 401 (k), IRA, or other tax-deferred retirement account? We examine Basic Capital, which allows investors to leverage their retirement account investments. We also explore how the wealthy don’t use debt to generate wealth but to manage it. Show Notes Basic Capital This 30-Year-Old’s Startup Is Bringing […]

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546: Do Retiring Baby Boomers Actually Move Markets? And How Much Do Demographics Really Matter

Camden Stein — Wed, 10 Dec 2025 21:04:13 +0000

As Baby Boomers continue to retire, some analysts expect financial markets to feel the strain. We examine whether demographic shifts truly shape stock and bond returns, or what other factors matter more. Topics covered include: Show Notes Zeihan Harry Dent Measuring the Natural Rate of Interest—Federal Reserve Bank of New York Distribution of Household Wealth […]

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Selling Gladstone Land Corp Preferred Shares

David Stein — Fri, 05 Dec 2025 17:45:55 +0000

545: Burnout, Breaks, and the Courage to Spend with David Bach

David Stein — Thu, 20 Nov 2025 00:05:07 +0000

David converses with best-selling author David Bach about preventing burnout through sabbaticals, moving to another country, why retirees should take Social Security as early as possible, and Bach’s idea of a flat tax on IRA distributions. Show Notes David Bach’s IRA Flat Tax Idea Related Episodes 506: Should You Retire Early and Live Outside Your Home […]

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544: Sports Betting Is Not Investing

David Stein — Wed, 12 Nov 2025 18:53:11 +0000

Can you really make money sports betting on low-risk, high-probability events? Topics covered include: Show Notes How Do Betting Odds Work? by OC Staff—oddschecker Senate Commerce Committee Wants Answers on NBA Gambling Scandal—Senate Commerce Committee “US sports betting crisis grows as MLB’s Clase and Ortiz indicted over alleged rigged pitches” by Tom Lutz—The Guardian ESPN […]

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543: Hoarding, FOMO, and Zcash: A Private Bitcoin

David Stein — Wed, 29 Oct 2025 18:37:34 +0000

What’s the difference between hoarding and investing? There’s a reason markets built on productive assets—like stocks and bonds—are far larger than hoarding markets such as gold and cryptocurrency. In this episode, David explores why that is, and shares why he recently bought Zcash, and how it’s both similar to and different from Bitcoin. Show Notes […]

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542: Don’t Take Financial Advice from AI

Camden Stein — Wed, 22 Oct 2025 16:59:43 +0000

A concerning example of how AI makes simple financial mistakes, and the right and wrong way to use AI to make financial decisions. Topics covered include: Show Notes What Kind of a “PhD-level Expert” Is ChatGPT 5.0? I Tested It. by Gary Smith—Mind Matters Top US Army General Says He’s Letting ChatGPT Make Military Decisions […]

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Portfolio Trade: Took Profits in Gold

David Stein — Wed, 22 Oct 2025 00:40:44 +0000

541: Debasement Fears or Meme Fever? What’s Driving the Gold and Silver Rally

Camden Stein — Wed, 15 Oct 2025 18:41:44 +0000

Are gold and silver up more than 50% in 2025 because investors fear currency debasement, or is this rally just the latest meme trade? In this episode, we explore the supply and demand forces behind gold and silver, discuss investing strategies, and outline what to watch to see if investors truly are worried about debasement. […]

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Model Portfolio Changes: New Models, New Structure

David Stein — Fri, 10 Oct 2025 20:05:40 +0000

Today, we implemented substantial changes to our model portfolios, providing more options and converting them to all ETFs instead of using mutual funds. We discuss these changes in more detail in Plus episode 540.

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540: Beyond Munis — New ETFs for Tax-Efficient Bond Investing

Camden Stein — Wed, 08 Oct 2025 17:48:19 +0000

How to decide when to invest in municipal bonds versus new tax-efficient bond ETFs that don’t invest in munis. We analyze several newer ETFs that earn bond-like returns while avoiding paying taxable income distributions. Investments mentioned: Show Notes US municipal bond defaults and recoveries, 1970-2022 by Moody’s Investor Service—Fidelity Five Reasons Municipals Have Rarely Defaulted […]

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539: Resilient Wealth in an Era of Infinite Money

Camden Stein — Wed, 17 Sep 2025 20:09:54 +0000

What happens when the money supply grows too slowly or too quickly? From gold-standard deflation to QE-driven inflation and inequality, we trace the lessons of monetary history, and what we can do today to protect ourselves in an age of infinite money. Topics covered include: Show Notes Distribution of Household Wealth in the U.S. since 1989—The […]

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538: Forests, Fakes, and the Fight for the Real

Camden Stein — Wed, 10 Sep 2025 20:17:36 +0000

From salmon leaping along the Vancouver Island coast to fake bands on Spotify, this episode explores the divide between the physical and digital economy, and what lumber markets, managed forests, and everyday life teach us about staying connected to the real. Topics covered include: Show Notes Lumber Prices Are Flashing a Warning Sign for the […]

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537: Why Central Banking Is So Hard and Why Fed Independence Matters

Camden Stein — Wed, 27 Aug 2025 19:20:04 +0000

Central bankers set policy with incomplete information, unobservable targets, and constant trade-offs between growth, inflation, and employment. In this episode, we delve into how the fight for Federal Reserve independence could impact markets, interest rates, and your financial future. Topics covered include: Show Notes 2025 Statement on Longer-Run Goals and Monetary Policy Strategy—The Federal Reserve […]

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536: How to Invest During a Bubble?

Camden Stein — Wed, 20 Aug 2025 18:40:11 +0000

From the dot-com boom to today’s AI frenzy, bubbles follow a familiar script. This episode explores how to recognize them, what sustains them, and how to position your portfolio without getting swept up in the hype. Topics covered include: Show Notes I’m Changing How I Manage My Money Because of AI by Hank Green—YouTube % […]

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Portfolio Trade: Adding to Stocks and Selling DSL

David Stein — Tue, 19 Aug 2025 22:40:05 +0000

535: Six Principles for Thriving Under Uncertainty and How Big Tech Is Doing the Opposite

Camden Stein — Wed, 13 Aug 2025 16:52:09 +0000

A practical framework for making better decisions, managing risk, and finding opportunity in unpredictable environments. We contrast these principles with the massive $2.9 trillion AI data center build-out by Big Tech, which is betting big on a single superintelligence future. Show Notes Inside the relentless race for AI capacity—The Financial Times Inside the AI race: […]

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534: Why Most Hedge Funds Fail but This One Didn’t with Dave Thomas

Camden Stein — Wed, 06 Aug 2025 19:03:10 +0000

Dave Thomas, CIO and Founder of long/short hedge fund, Atalan Capital Partners, shares why most hedge funds fail and the keys to being a long-term successful investor. Show Notes Hedging Risk, Accessing Opportunity with Dave Thomas—F.E.G. Insight Bridge Episode Sponsors Delete Me – Use code David20 to get 20% off Transcript Coming Soon

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Portfolio Trade: Reduced Bitcoin and Ether Exposure

David Stein — Fri, 01 Aug 2025 15:35:55 +0000

533: How To Better Navigate Money, Time, Risk, and Uncertainty with Carl Richards

Camden Stein — Wed, 30 Jul 2025 20:46:02 +0000

David converses with renowned illustrator and financial philosopher Carl Richards on the abstraction of money, attentional capital, distinguishing risk from uncertainty, and the importance of taking microactions. Show Notes Behavior Gap Your Money: Reimagining Wealth in 97 Simple Sketches by Carl Richards Episode Sponsors Asset Camp Money for the Rest of Us Plus Related Episodes […]

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532: Should Private Assets, Gold, and Crypto Be Investment Options in 401k and other Defined Contribution Plans?

Camden Stein — Wed, 23 Jul 2025 18:17:28 +0000

A new executive order could radically reshape retirement investing by allowing private equity, crypto, and gold in 401(k) plans. This episode examines the factors driving the demand for alternative assets in defined-contribution plans, the potential risks to everyday investors, and why fiduciary rules and financial literacy gaps still matter. Show Notes Trump Executive Order to […]

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531: Will AI Wipe Out Half of White Collar Jobs or Is There an AI Bubble?

Camden Stein — Wed, 16 Jul 2025 20:01:11 +0000

We explore the compelling questions surrounding artificial intelligence. Will AI create more new jobs than it destroys? Is AI already destroying jobs? Are we seeing overinvestment in companies and infrastructure in the AI space? Is there evidence that AI has increased productivity? Show Notes Behind the Curtain: A white-collar bloodbath by Jim VandeHei and Mike […]

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530: Mining and the Global Race for Critical Minerals with Kinterra Capital

Camden Stein — Wed, 09 Jul 2025 18:36:26 +0000

How the investing landscape is being reshaped by the global race for critical minerals. Topics covered in this conversation between FEG’s Greg Dowling and private equity firm Kinterra Capital’s co-founders, Cheryl Brandon and Kamal Toor include: Show Notes Mining for Alpha: Featuring Kinterra Capital—F.E.G. Investment Advisors Kinterra Capital Episode Sponsors Delete Me – Use code […]

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Portfolio Trade: Reducing Preferred Stock Holdings and Adding a Baby Bond

David Stein — Mon, 07 Jul 2025 17:39:09 +0000

529: Are Robo Advisors Worth It Even With Tax Loss Harvesting and Direct Indexing?

Camden Stein — Wed, 25 Jun 2025 18:43:47 +0000

We examine how robo-advisors have evolved over the past decade to determine if their services justify the fees they charge. Topics covered include: Show Notes The Tax Benefits of Direct Indexing, and How They Are Affected by the Biden Tax Plan by Nathan Sosner et al.—SSRN An Empirical Evaluation of Tax-Loss Harvesting Alpha by Shomesh […]

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528: Climbing the Wealth Ladder with Nick Maggiulli

Camden Stein — Wed, 18 Jun 2025 18:48:09 +0000

How our spending, investing, and life strategy change as our net worth grows. We consider how skill, luck, discipline, relationships, and AI can allow us to ascend and, in some cases, descend the wealth ladder. Show Notes Of Dollars and Data The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life by Nick Maggiulli […]

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Portfolio Trade: Adding CLO Closed-end Fund and Exiting Individual REITs

David Stein — Sat, 14 Jun 2025 13:04:13 +0000

527: Stablecoins and CBDCs: Their Rise, Risks and Possibilities

Camden Stein — Wed, 11 Jun 2025 20:50:21 +0000

Circle Invest, one of the leading stablecoin providers, just went public, and its stock price has tripled. We delve into the growth of stablecoins, their applications, and the associated risks. We also discuss the surprising political pushback against central bank digital currencies. Show Notes Top Stablecoin Tokens by Market Capitalization—CoinMarketCap Runs and Flights to Safety: […]

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526: The Future of Power: Energy at a Crossroads with Scott Harland

Camden Stein — Wed, 04 Jun 2025 17:48:00 +0000

From wildfires to AI-driven demand surges, the power grid is under pressure—and so is the investment landscape around it. Scott Harland of Rockland Capital visits with Greg Dowling of FEG to explore the risks, opportunities, and critical shifts shaping the future of energy. Topics covered include: Show Notes Hungry, Hungry, Hyperscalers with Scott Harlan—F.E.G. Investment […]

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525: No More AAA – What the U.S. Debt Downgrade Means for Investors

Camden Stein — Wed, 21 May 2025 18:01:50 +0000

With longer-term U.S. interest rates rising and no plan to reduce the budget deficit, is a U.S. national debt crisis imminent? Topics covered include: Show Notes Moody’s Ratings downgrades United States ratings to Aa1 from Aaa; changes outlook to stable—Moody’s Ratings Research Update: United States of America Long-Term Rating Lowered To ‘AA+’ On Political Risks […]

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524: Facing a Financial Squeeze: What Harvard’s Response Can Teach the Rest of Us

Camden Stein — Wed, 14 May 2025 16:51:24 +0000

How can we apply the same emergency measures that Harvard and other universities are using to navigate a financial crisis? Also, how universities invest their endowments and what their performance has been. Topics covered include: Show Notes Letter Sent to Harvard 2025-04-11—Harvard Harvard Response 2025-04-14—Harvard Trump Administration Will Freeze $2 Billion After Harvard Refuses Demands […]

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523: Why Bond Investing Is Easier Than Ever

Camden Stein — Thu, 08 May 2025 13:30:30 +0000

Discover how bond market ETFs have transformed investing — making bonds easier, cheaper, and more accessible than ever. We also explore how the bond market’s very composition has evolved. Show Notes The total return strategy in bonds is far from dead by James Bianco—The Financial Times What I Learned in My First Year Managing Fixed-Income […]

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Portfolio Trade: New Asset Based Lending Investment

David Stein — Wed, 30 Apr 2025 22:33:39 +0000

522: Investing in Emerging Markets with Ali Akay

Camden Stein — Wed, 30 Apr 2025 17:08:35 +0000

Ali Akay, CIO of Carrhae Capital, answers why invest in emerging markets. He also shares with Greg Dowling of FEG insights on China, Mexico, South Korea, Argentina, Greece, Turkey, South Korea, and South Africa. Show Notes Emerging Unscathed: Featuring Ali Akay—FEG Insight Bridge Related Episodes 474: Are Emerging Markets Bonds a Once-in-a-Generation Opportunity? 411: Is […]

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521: Is the Rest of the World Selling America?

Camden Stein — Wed, 23 Apr 2025 18:37:42 +0000

The U.S has traditionally been a safe haven for investing, but that hasn’t been the case in 2025. We explore three economic and narrative regimes and consider why we may be witnessing a shift after 12 years of U.S. outperformance. Topics covered include: Episode iframe Show Notes Testimony of Chairman Alan Greenspan Outlook for the […]

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520: Where Are We Heading?

Camden Stein — Wed, 16 Apr 2025 22:33:07 +0000

In this episode, we explore what it means to invest in a non-ergodic world—where time, not averages, determines outcomes. We unpack concepts like volatility drag, ensemble vs. time averages, and the implications for portfolio strategy, while also reflecting on how AI and zero-click search are reshaping business and investor behavior. Topics covered include: Show Notes […]

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519: Is This the End of Globalization and Free Trade?

Camden Stein — Wed, 09 Apr 2025 18:30:47 +0000

What will the impact be now that the U.S. has one of the highest tariff rates in the world? Topics covered include: Show Notes The economic consequences of Mr Trump – looking for clarity in the tariffs chaos by Neil Shearing—Capital Economics Tariff rate, most favored nation, simple mean, all products (%)—World Bank Group Donald […]

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518: Is It Too Late to Invest in Gold? With Max Belmont – FEG Insight Bridge

Camden Stein — Wed, 02 Apr 2025 22:10:48 +0000

Greg Dowling of FEG interviews Max Belmont, a gold specialist and portfolio manager at First Eagle Investments. Greg and Max discuss the historical, philosophical, and practical reasons for owning gold. Topics covered include: Show Notes The Golden Age with Max Belmont—FEG Insight Bridge Episode Sponsors Asset Camp Related Episodes 431: The Long-term Bullish Case for […]

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517: Should You Invest 100% of Your Retirement in Closed-End Funds

Camden Stein — Wed, 26 Mar 2025 16:26:35 +0000

We compare three approaches to closed-end fund investing: Opportunistic trading, the buy and hold income factory, and a systematic approach of selling closed-end funds after 5% gains. We also explore the pros and cons of closed-end funds relative to open-end mutual funds and ETFs. Show Notes The Closed-End Fund Market, 2023—Investment Company Institute The Income […]

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516: What Trump Wants Part 2 – How Trade Deficits and Capital Flows Can Harm or Help Countries

Camden Stein — Wed, 19 Mar 2025 18:27:21 +0000

How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier. Topics covered include: Show Notes Why U.S. Debt Must Continue to Rise by Michael Pettis—Carnegie Endowment Could Trump devalue the dollar with a “Mar-a-Lago Accord”? by Paul Diggle and Luke Bartholomew—Aberdeen Investments A User’s Guide to Restructuring […]

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515: Tariffs and the Mar-a-Lago Accord: What Trump Really Wants

Camden Stein — Wed, 12 Mar 2025 20:52:21 +0000

How the Trump administration is using tariffs as a negotiating tool to weaken the U.S. dollar and increase the global competitiveness of U.S. manufacturers. Topics covered include: Show Notes Stock Market News, March 10, 2025: Nasdaq Falls 4% After Trump Doesn’t Rule Out Recession by Caitlin McCabe and Krystal Hur—The Wall Street Journal Trump Says […]

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514: Why Japanese Stocks Could Outperform with Howard Smith – FEG Insight Bridge

Camden Stein — Wed, 05 Mar 2025 19:19:28 +0000

This week on episode 514, we share a conversation between Howard Smith of Indus Capital and Greg Dowling of FEG Investment Advisors on why Japan could surprise investors over the next decade with strong investment returns. David introduces the episode by sharing his key takeaways from the discussion. FEG Investment Advisor is David’s former institutional […]

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513: Crypto—Innovation or Insanity? Meme Coins, Hacks, and Strategic Bitcoin Reserves

Camden Stein — Wed, 26 Feb 2025 22:42:23 +0000

We consider the incongruency of a U.S. Strategic Bitcoin Reserve, the latest crypto exchange hack, and how most participants lost money on the Trump meme coin. Given all that, we review some areas where cryptocurrency is helping individuals and businesses. Topics covered include: Show Notes All Information (Except Text) for S.4912 – BITCOIN Act of […]

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Portfolio Trade: Exiting MCI

David Stein — Wed, 19 Feb 2025 22:24:15 +0000

512: Unlocking Hidden Returns—How Mortality Credits Boost Retirement Income

Camden Stein — Wed, 19 Feb 2025 17:06:25 +0000

How using a deferred income annuity can increase retirement income compared to an immediate annuity or a bond ladder. Topics covered include: Show Notes Post: No, really. Deferred income annuities (DIAs) are superior to SPIAs in every way by Boglehead User “GoWithTheCashFlow”—Bogleheads Actuarial Life Table—SSA TIPSLadder Safety-First Retirement Planning: An Integrated Approach for a Worry-Free […]

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511: What Are Sovereign Wealth Funds and Does the U.S. Need One?

Camden Stein — Wed, 12 Feb 2025 18:31:24 +0000

The U.S. and the UK each announced they were establishing sovereign wealth funds. We explore the purposes and types of sovereign wealth funds, how they invest, and some concerns with the U.S. establishing one. Topics covered include: Show Notes Fact Sheet: President Donald J. Trump Orders Plan for a United States Sovereign Wealth Fund—The White […]

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510: Contrarian Investing with GMO’s Ben Inker – FEG Insight Bridge

Camden Stein — Wed, 05 Feb 2025 19:16:04 +0000

This week on episode 510, we share a conversation between Ben Inker of GMO and Greg Dowling of FEG Investment Advisors on contrarian investing, deep value stocks, and the rise of passive investing. David introduces the episode by sharing his key takeaways from the discussion. FEG Investment Advisor is David’s former institutional advisory firm, where […]

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509: How to Invest in Private Credit / Direct Lending?

Camden Stein — Wed, 29 Jan 2025 19:48:11 +0000

We explore what private credit, or direct lending, is and how to invest in it. We also show how it is similar to and different from investing in leverage loans and CLOs. Topics covered include: Show Notes The Credit Markets Go Dark by Jared A. Ellias and Elisabeth de Fontenay—SSRN The Lost Promise of Private Ordering […]

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508: Who Should Bear the Cost? Socialized vs. Market-Based Risk Management

Camden Stein — Wed, 22 Jan 2025 22:17:23 +0000

Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and market-based insurance. Topics covered include: Show Notes California wildfires: What we know about L.A.-area fires, what caused them, who is affected and more by Tim Stelloh, Marlene Lenthang, Rebecca Cohen and Phil Helsel—NBC News Climate change is showing […]

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507: Where You Live Matters – How Geography Contributes to Wealth

Camden Stein — Wed, 15 Jan 2025 21:35:26 +0000

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 lower the cost of living Why we should consider slowing down our rate of consumption How geography is impacting […]

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506: Should You Retire Early and Live Outside Your Home Country? With Joshua Sheats

David Stein — Wed, 08 Jan 2025 20:02:15 +0000

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. Show Notes https://www.radicalpersonalfinance.com Episode Sponsors Delete Me – Use code David20 to get 20% off Acorns […]

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505: Optimization, AI, and Opting Out with Coco Krumme

Camden Stein — Wed, 18 Dec 2024 17:54:56 +0000

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 […]

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504: Indexing Bubble and Asset Class Returns Still Revert to the Mean

Camden Stein — Wed, 11 Dec 2024 19:51:14 +0000

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? Show Notes The Equity Risk Premium: Nine Myths (JPM Series) by Rob Arnott—Research Affiliates The Greatest Scourge in […]

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Portfolio Trade: Rebalancing Stock Exposure

David Stein — Tue, 10 Dec 2024 23:32:32 +0000

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

Camden Stein — Wed, 04 Dec 2024 20:36:51 +0000

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? Show Notes American productivity still leads the world—The Economist The Outlook for Long-Term Economic Growth by Charles I. […]

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502: Should You Invest in Nuclear Energy?

Camden Stein — Wed, 20 Nov 2024 19:16:47 +0000

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: Show Notes Microsoft in deal for Three Mile Island nuclear power to meet AI demand by Myles McCormick and Jamie Smyth—The Financial Times Nuclear Power Was Once Shunned at Climate Talks. […]

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501: Strategy and Systems Want Your Money

Camden Stein — Wed, 13 Nov 2024 19:16:42 +0000

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. Show Notes Ruminating on Asset Allocation by Howard Marks—Oaktree Capital Michael E. Porter—Harvard Business School This Is Strategy by Seth […]

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

Camden Stein — Wed, 06 Nov 2024 22:11:52 +0000

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 […]

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Portfolio Trade: Reducing Series I Savings Bond Exposure

David Stein — Sat, 02 Nov 2024 16:46:03 +0000

499: What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

Camden Stein — Wed, 30 Oct 2024 19:00:23 +0000

We explore eight things that contribute to a healthy, growing economy and where Cuba and Argentina have fallen short. Topics covered include: Show Notes Cuba is out of supplies and out of ideas—The Economist Cuba plunged into crisis by long power blackouts by Ed Augustin—The Financial Times Power Outage Plunges All of Cuba Into Darkness […]

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498: What I Learned Investing in the Past Decade

Camden Stein — Wed, 23 Oct 2024 19:24:38 +0000

David shares how his investing has changed over the past ten years and lessons you can apply to your portfolio. Here are the ten lessons: Show Notes The Investor Podcast 668: What I Learned About Investing w/ Stig Brodersen Episode Sponsors NetSuite Delete Me – Use code David20 to get 20% off Related Episodes 454: […]

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497: How to Fix the Retirement Savings Crisis

Camden Stein — Wed, 16 Oct 2024 18:09:14 +0000

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 covered include: Show Notes The Shift that Redefined Retirement Security by Shashwat Vidhu Sher—SSRN Was the 401(k) a Mistake? by Michael Steinberger—The New York Times Magazine Who Has […]

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Portfolio Trade: Exiting Global Infrastructure Closed End Fund

David Stein — Fri, 11 Oct 2024 16:59:48 +0000

496: Are You Taking Enough Aspirational Risk?

Camden Stein — Wed, 09 Oct 2024 18:54:02 +0000

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: Show Notes Portfolio Selection by Harry Markowitz—The Journal of Finance, Vol. 7, No. 1. (Mar., 1952), pp. 77-91 Safety First and the Holding of Assets by A. D. Roy—Econometrica, Vol. […]

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Portfolio Trade: Switching Buffer ETFs

David Stein — Sat, 05 Oct 2024 16:08:54 +0000

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

Camden Stein — Wed, 25 Sep 2024 18:28:18 +0000

What does the Federal Reserve’s policy rate cut mean for our portfolios? Will interest rates keep falling? What changes should we make? Topics covered include: Show Notes Asset Camp FedWatch—CME Group Summary of Economic Projections—US Federal Reserve Investors may be getting the Federal Reserve wrong, again—The Economist Term Premium on a 10 Year Zero Coupon […]

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

Camden Stein — Wed, 18 Sep 2024 18:06:32 +0000

How home equity investments, income share agreements, and music royalties work, and how they have elements of equity and debt. Topics covered include: Show Notes Unlock Product Guide—Unlock Point and Atalaya Capital Management Close Oversubscribed $141 Million Home Equity Investment Rated Securitization—Global Newswire What Colleges Should Know About Income Share Agreements and Private Education Loan […]

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

David Stein — Wed, 11 Sep 2024 17:18:08 +0000

What caused the 40% price increase in houses and rents, and what are governments doing to try to fix the problem. Topics covered include: Show Notes Concern over housing costs hits record high across rich nations by Valentina Romei and Sam Fleming—The Financial Times Home Price to Median Household Income Ratio (US)—Longtermtrends Home Ownership Affordability Monitor—Federal Reserve […]

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492: The Power of Optionality: Small Bets, Big Payoffs

David Stein — Wed, 04 Sep 2024 18:32:57 +0000

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: Show Notes Antifragile by Nassim Nicholas Taleb—Penguin Random House The […]

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491: The Five Layers of Investing

Camden Stein — Wed, 28 Aug 2024 23:15:31 +0000

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: Show Notes Asset Camp The Role of Emotions in Financial Decisions by David Tuckett—ResearchGate Morningstar Active Passive Barometer Episode Sponsors Monarch Money – Get an extended 30-day free trial […]

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490: Should You Invest in Private Equity?

David Stein — Wed, 21 Aug 2024 20:47:43 +0000

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: Show Notes Understanding Private Fund Performance by Kaitlin Hendrix and Mamdouh Medhat—SSRN What Drives Private-Equity Performance Persistence? New Deal-Level Evidence by Axel Buchner and Susanne Espenlaub and Abdul […]

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489: Why Did Markets Sell Off? What Should You Do?

David Stein — Wed, 07 Aug 2024 18:15:00 +0000

We examine three factors that contributed to this week’s big stock market declines, analyze whether a recession is imminent, and examine David’s recent portfolio changes. Topics covered include: Show Notes Transcript of Chair Powell’s FOMC Press Conference July 31, 2024—The Federal Reserve Goolsbee Says Fed Won’t Overreact to One Month’s Data by Catarina Saraiva and Ananya Chag—Bloomberg […]

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Portfolio Trade: Adding Bullet ETF, Buffer ETF and Increasing CLO Exposure

David Stein — Fri, 02 Aug 2024 15:17:48 +0000

488: Should You Invest in an Ethereum ETF?

David Stein — Wed, 31 Jul 2024 17:39:17 +0000

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: Show Notes Spot Ethereum ETFs begin trading today: Here’s what you need to know by Jason […]

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487: Are We Heading for a 2030s Depression? Global Economic and Population Shifts

David Stein — Wed, 24 Jul 2024 17:30:06 +0000

What we can monitor and do now in preparation for a 2030s depression, which may or may not arrive. Topics covered include: Show Notes Top 5 Causes of the 2030s Great Depression—ITR Economics The Demographic Outlook: 2024 to 2054—Congressional Budget Office Testimony on Social Security’s Finances—Congressional Budget Office World Population Prospects 2024—The United Nations World […]

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486: How Retail Traders Lose Big While Enriching Wall Street

David Stein — Wed, 17 Jul 2024 21:42:48 +0000

Gambling in the stock market is increasing, with most traders losing money while generating billions of dollars per year for brokerages and wholesalers. Will all this trading lead to big market swoons? Topics covered include: Show Notes How Stocks Became the Game That Record Numbers of Americans Are Playing by Claire Ballentine—Bloomberg MURPHY, GOVERNOR OF […]

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485: Should You Invest in Defined Outcome (Buffer) ETFs?

David Stein — Wed, 10 Jul 2024 18:11:11 +0000

Buffer ETFs protect against the downside while capping the upside. We examine them closely to see if they are worth it. Topics covered include: Show Notes BlackRock Enters Booming Market for Stock ETFs With a 100% Hedge by Emily Graffeo—Bloomberg New Stock ETF Offers 100% Hedge as Buffer Funds Nab $46 Billion by Emily Graffeo—Bloomberg […]

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484: 7 Steps to Living a Longer Life

Camden Stein — Wed, 26 Jun 2024 18:26:11 +0000

Seven ways to increase the odds of living long into your retirement years (if you choose to retire). Show Notes Podcast Stats: How many podcasts are there?—Listen Notes Quality Over Quantity Is A Growth Strategy by Steven Goldstein—Amplifi Media Slow Productivity by Cal Newport—Penguin Random House Why our brains crave beauty, art and nature by […]

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483: Don’t Lose Access to Your Cash: Comparing Banks, Neobanks, and Fintech Platforms for Cash Savings

David Stein — Wed, 19 Jun 2024 18:06:42 +0000

Millions of fintech app users have lost access to their cash. In this episode, we explain why this happened and show you how to protect yourself when placing cash with traditional banks, neobanks, and fintech platforms. Topics covered include: Show Notes CHAPTER 11 TRUSTEE’S INITIAL STATUS REPORT BY UNITED STATES BANKRUPTCY COURT CENTRAL DISTRICT OF […]

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482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

David Stein — Wed, 12 Jun 2024 17:13:51 +0000

How a few high-impact successes drive up overall average outcomes in investing, business, and creative projects. How to harness positive skewness using a barbell approach. Learn when to mitigate risks and when to embrace them. Topics covered include: Show Notes Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks by Hendrik Bessembinder, Te-Feng Chen, Goeun Choi, […]

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481: How to Navigate the Crippling Home Insurance Crisis

David Stein — Wed, 05 Jun 2024 17:41:04 +0000

Why are homeowners seeing home insurance premiums increases of up to 70%, as David has? What can you do if your insurer drops you, you get a huge premium increase, or you can no longer afford coverage? Topics covered include: Show Notes Home Insurance Is Clobbering Consumers. Yet It’s Barely Counted in Inflation. by Jeanna […]

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480: Beyond Faster (T+1) Trade Settlement: The Hidden Costs of Optimization

David Stein — Wed, 29 May 2024 19:00:15 +0000

Why stock, ETF, and bond trades are optimized to settle in less than a day, allowing investors quicker access to their cash and securities. What are the benefits and costs of optimization in the relentless drive for cheaper, faster, and more profitable. Topics covered include: Show Notes About the ‘T+1’ Rule Making US Stocks Settle […]

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479: National Debt Master Class Finale – What To Do

David Stein — Wed, 22 May 2024 20:10:12 +0000

In part three of our national debt masterclass, we share a simple debt dynamics formula we can monitor to help guide our investment choices. Topics covered include: Show Notes Jerome Powell: Full 2024 60 Minutes interview transcript—CBS News Yellen says she disagrees with Moody’s outlook on US debt by Ann Saphir and David Lawder—Reuters IMF Steps Up […]

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478: National Debt Master Class Part 2/3

David Stein — Fri, 17 May 2024 19:31:52 +0000

In part two of this series, we explore how households, businesses, and banks can opt out of the national debt scheme. We also examine how central banks and governments monetize debt with quantitative easing. Show Notes Credit and Liquidity Programs and the Balance Sheet: Federal Reserve liabilities—Board of Governors of the Federal Reserve System As […]

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National Debt Master Class Part 1/3

David Stein — Wed, 08 May 2024 19:49:52 +0000

In part one of this three-part series, we consider why a country that issues debt in its own currency can’t default unless it chooses to. We also explore how central banks can control interest rates on the national debt and whether it is possible for government borrowing to crowd out the private sector. Show Notes […]

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476: Is Small Cap Dead? Why You Shouldn’t Abandon Small Company Stocks

David Stein — Wed, 24 Apr 2024 17:26:59 +0000

Why have global small-cap stocks underperformed large-cap stocks and will the trend continue? The investment case for allocating to global small caps. Topics covered include: Show Notes US small-caps suffer worst run against larger stocks in over 20 years by George Steer—The Financial Times Small stocks, big problems by Robin Wigglesworth—The Financial Times The Death […]

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475: Inflation’s Illusion: Debunking the Normalcy of Currency Debasement

Camden Stein — Wed, 17 Apr 2024 17:54:33 +0000

It is not normal to want prices to rise and currencies to lose their purchasing power. We look at the advantages of stable currencies and prices. Topics covered include: Show Notes Is Japan finally becoming a “normal” economy?—The Financial Times Broken Money by Lyn Alden A Complete Guide to Understanding and Protecting Against Inflation—Money for […]

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474: Are Emerging Markets Bonds a Once-in-a-Generation Opportunity?

David Stein — Wed, 10 Apr 2024 17:30:05 +0000

Some analysts suggest that now is an incredibly attractive entry point to invest in emerging market bonds. We look at how to do this and whether you should. Topics covered include: Show Notes Emerging Local Debt: A Once-In-A-Generation Opportunity? by Victoria Courmes—GMO EM Sovereign Defaults at Record Level, but Rating Outlooks More Balanced—Fitch Ratings The […]

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Portfolio Trade: Exiting JP Morgan Chase Alerian ETN

David Stein — Sat, 06 Apr 2024 16:30:20 +0000

473: Investing Fundamentals and What Is Attractive Now

Camden Stein — Wed, 03 Apr 2024 18:45:58 +0000

In this conversation with financial advisor Josh Jalinski, David shares his views on constructing and benchmarking portfolios, factor investing including growth versus value, and managing regret. We explore a number of asset classes and strategies including dividend investing, leveraged loans, closed-end funds, equity REITs, and China. We also discuss how to manage retirement assets. Show […]

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472: Is the Economy as Bad as People Think?

David Stein — Wed, 27 Mar 2024 18:07:32 +0000

Why most households are in better financial shape than prior to the pandemic, but remain frustrated at their lack of economic progress. Topics covered include: Show Notes Surveys of Consumers—University of Michigan Consumer sentiment climbs amid split views on business outlook—University of Michigan The Purchasing Power of American Households—U.S. Department of the Treasury Unemployment Rate—St. […]

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471: Unlocking Income—A Comprehensive Guide to Investing in Covered Call ETFs

David Stein — Wed, 20 Mar 2024 19:14:51 +0000

How to use covered call and buy-write strategies to generate income while understanding the risks and having realistic return expectations. Topics covered include: Show Notes Investments MentionedJP Morgan Equity Premium Income ETF (JEPI) JP Morgan Equity Premium Income Fund (JEPIX) Global X NASDAQ 100 Covered Call ETF (QYLD) Global X S&P 500® Covered Call ETF […]

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470: How the Economy Really Works: Savings, Investing, Consuming and Market Distortions

David Stein — Wed, 13 Mar 2024 21:25:56 +0000

A primer on how the economic engine works through coordination between savers, investors, consumers, producers, governments, and banks. How hoarding and unfair competition can lead to economic distortions. Topics covered include: Show Notes Wait, Is Saving Good or Bad? The Paradox of Thrift—The Federal Reserve Bank of St. Louis Rents: How Marketing Causes Inequality by […]

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Adaptive Model Portfolio Change: Increasing Stock Exposure

David Stein — Sat, 09 Mar 2024 17:47:57 +0000

469: Which Will Perform Better: Berkshire Hathaway or Utility Stocks?

David Stein — Wed, 06 Mar 2024 19:24:11 +0000

Berkshire Hathaway doesn’t pay a dividend, its cash pile keeps growing, and Buffet says it’s gotten too big to make acquisitions that can impact the company. Meanwhile, utility ETFs have a steady 3.5% dividend yield. Which will be the better-performing investment going forward? Topics covered include: Show Notes Berkshire Hathaway 2023 Shareholder Letter The Man […]

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468: Lessons from Japan’s 34 Years of Stock Market Underperformance

David Stein — Wed, 28 Feb 2024 18:26:29 +0000

Japan’s stock market recently exceeded the all-time high first set in December 1989. That’s 34 years of zero price appreciation for the stock market. What drove this lackluster performance, will it continue, and what can we learn from it? Topics covered include: Show Notes Japan’s Nikkei 225 index eclipses record high after 34 years by […]

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Portfolio Trade: Swapping Bank Loan Funds

David Stein — Fri, 23 Feb 2024 15:46:04 +0000

467: Unraveling the Truth About ETFs: Benefits, Analysis, and the Indexing Bubble Myth

David Stein — Wed, 21 Feb 2024 17:57:47 +0000

How the ETF market is changing, why ETFs should be your preferred investment vehicle, and how to analyze ETFs to generate better investment performance. Topics covered include: Show Notes Global Fund Flows Dominated by Fixed-Income and ETFs—Morningstar It’s Official: Passive Funds Overtake Active Funds by Adam Sabban—Morningstar ETF Issuer League Tables—VettaFi Global ETF Market Facts: […]

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466: Does Dividend Investing Still Work?

David Stein — Wed, 14 Feb 2024 17:20:23 +0000

Stocks that grow their dividends have outperformed non-dividend-paying stocks over the long-term, but not in the past 5, 10, and 20 years. Why are non-dividend paying stocks outperforming dividend growers, and will it continue? Topics covered include: Show Notes The dividend puzzle by Fischer Black—The Journal of Portfolio Management Can Dividend Investing Rise From the […]

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465: Transforming Financial Regrets into Portfolio Gains: Five Strategies for Navigating Investment Emotions

David Stein — Wed, 07 Feb 2024 18:00:31 +0000

Humans are wired to feel regret. Here’s how to learn from financial regret to become a better investor. Topics covered include: Show Notes Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb—Penguin Random House Episode Sponsors NetSuite – Get your free KPI checklist Long Angle is a […]

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464: More Ways to Lock in Higher Yields in Case Interest Rates Fall

David Stein — Wed, 31 Jan 2024 18:25:48 +0000

Professional investors and other market participants are lousy at forecasting interest rates. Here are three more options to lock in higher yields today. Topics covered include: Show Notes Investors may be getting the Federal Reserve wrong, again—The Economist Today’s Best Multi-Year Guaranteed Annuities—Immediate Annuities Zero-Coupon Treasuries Flew Off Shelves During October Yield Surge by Elizabeth […]

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463: How to Lock in Higher Yields in Case Interest Rates Fall

David Stein — Wed, 24 Jan 2024 18:35:04 +0000

With cash yields expected to fall, here’s how you can keep your portfolio income elevated by purchasing longer-term individual bonds and bullet ETFs Topics covered include: Show Notes Term Premium on a 10 Year Zero Coupon Bond—FRED Economic Data Episode Sponsors Sponsors Betterment – the automated investing and savings app Money for the Rest of […]

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462: Now Should You Buy a Bitcoin ETF?

David Stein — Wed, 17 Jan 2024 18:46:13 +0000

We explore reasons for buying Bitcoin using one of the new Bitcoin ETFs. We also consider the risks. Topics covered include: Show Notes Statement on the Approval of Spot Bitcoin Exchange-Traded Products by Chair Gary Gensler—SEC Coinbase at the Center of Bitcoin ETF Draws Envy and Risks by Yueqi Yang and Olga Kharif—Bloomberg Federal Reserve Balance Sheet: […]

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461: How Much Should Your Net Worth Grow Each Year?

David Stein — Wed, 10 Jan 2024 18:32:10 +0000

The intricate dance between profession, risk, lifestyle, and luck in determining how net worth grows. Topics covered include: Show Notes Managing Oneself by Peter F. Drucker—Harvard Business Review Soloing: Realizing Your Life’s Ambition by Harriet Rubin—HarperCollins Episode Sponsors Shopify – Sign up for a $1 per month trial period LinkedIn Jobs – Use this link to […]

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460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes.

David Stein — Wed, 03 Jan 2024 18:13:35 +0000

The pros and cons of investing your retirement assets 100% in equity, including half in international stocks. Why the 4% spending rule is too aggressive. Topics covered include: Show Notes Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice by Aizhan Anarkulova, Scott Cederburg, and Michael S. O’Doherty—SSRN The Safe Withdrawal Rate: Evidence […]

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459: Listener Q&A 4

Camden Stein — Wed, 13 Dec 2023 18:22:57 +0000

We close out 2023 by answering your questions on active vs passive management, market timing, investing for status, what we learned from Charlie Munger, thoughts on a coming recession, worst investment mistakes this year, recent books that changed us, and more. Topics covered include: Show Notes How the World Really Works by Vaclav Smil—Viking The […]

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458: Dissecting Stock Returns: Financial Engineering or Genuine Growth?

David Stein — Wed, 06 Dec 2023 17:17:58 +0000

Do the impressive returns in public and private markets stem from strategic financial engineering or reflect actual economic growth? Topics covered include: Show Notes US CEOs start to contemplate Trump, round 2 by Rana Foroohar—The Financial Times End of an Era: The Coming Long-Run Slowdown in Corporate Profit Growth and Stock Returns by Michael Smolyansky—The […]

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457: AI’s Fork in the Road: Societal Bliss or Existential Threat

David Stein — Wed, 29 Nov 2023 19:14:59 +0000

One year after the release of ChatGPT, we explore the positive and negative paths AI could take and what individuals can do to assist with a positive outcome. Topics covered include: Show Notes Everyday Chaos: Technology, Complexity, and How We’re Thriving in a New World of Possibility by David Weinberger—Harvard Business Review The economic and […]

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456: Is Tourism Harmful or Helpful? The Economic and Cultural Impact of Global Travel

David Stein — Wed, 15 Nov 2023 18:20:48 +0000

What are the economic and cultural benefits of tourism. What are the downsides to too much tourism. How to find the right balance. Topics covered include: Show Notes International tourism revenue, percent of GDP – Country rankings—The Global Economy U.S. Travel and Tourism Satellite Account for 2017–2021 by Sarah Osborne—Journal of US Bureau of Economic Analysis […]

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455: Easier Investing, Richer Life: TIPS Ladders to Annuities

David Stein — Wed, 08 Nov 2023 18:01:29 +0000

What are the pros and cons of partially funding retirement expenses with an inflation-indexed bond ladder versus an immediate annuity? There is a big downside to TIPS ladders that many investors don’t realize. Topics covered include: Show Notes Effortless: Make It Easier to Do What Matters Most by Greg McKeown Essentialism: The Disciplined Pursuit of […]

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454: How To Invest – Ten Rules of Thumb for Individual Investors

David Stein — Wed, 01 Nov 2023 16:56:22 +0000

We discuss ten rules of thumb for individual investors to consider when saving and investing for and in retirement. Here are the ten rules of thumb: Show Notes How to Invest Money E-book Episode Sponsors Madison Trust Self-Directed IRA – Go here to learn more and get your $100 promo code Monarch Money – Get […]

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453: The Price of Money – 700 Years of Falling, Can Interest Rates Keep Rising?

David Stein — Wed, 25 Oct 2023 16:10:04 +0000

Interest rates have been sliding for seven centuries. Dive into the historical forces driving this trend and examine whether the recent interest rate spike is just a blip on the radar. Topics covered include: Show Notes The Price of Money Is Going Up, and It’s Not Because of the Fed by Jamie Rush, Martin Ademmer, Maeva Cousin, Tom […]

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Portfolio Trade: Adding to TIPS Exposure

David Stein — Thu, 19 Oct 2023 21:54:00 +0000

452: Beyond Stocks: The Allure and Strategy of Credit Investments

David Stein — Thu, 19 Oct 2023 14:34:47 +0000

Investing in non-investment grade bonds, leveraged loans, and preferred stocks is potentially more compelling than investing in common stocks at present. Topics covered include: Show Notes Sea Change – Memo by Howard Marks Further Thoughts on Sea Change – Memo by Howard Marks Investments Mentioned Investments Mentioned SPDR Bloomberg High Yield Bond ETF (JNK) iShares […]

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Portfolio Trade: Adding to Existing Equity REIT and Preferred Stock Holdings

David Stein — Sat, 14 Oct 2023 16:34:21 +0000

451: How Much Should You Invest in Stocks? The Art of Position Sizing in a Volatile Market

David Stein — Wed, 11 Oct 2023 17:55:52 +0000

Our allocation to risky assets should vary based on the expected return, volatility, risk aversion, and how much we can earn risk-free. That means we should be taking less risk right now. Listen to learn why. Topics covered include: Show Notes How to avoid a common investment mistake – Buttonwood – The Economist The Missing […]

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450: How Higher Interest Rates Alter Our Financial Blueprint

David Stein — Wed, 04 Oct 2023 13:56:38 +0000

We explore six impacts of higher interest rates on housing, capital projects, stock buybacks, excess returns for stocks, bonds, and other asset classes, and individual opportunity costs. Topics covered include: Show Notes Summary of Economic Projections—The Federal Reserve The Apartment Market Is Hitting a Construction Lull by Will Parker—The Wall Street Journal 30-Year Fixed Rate […]

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449: The House of Cards: Evaluating Economic and Financial Warning Signs

David Stein — Wed, 27 Sep 2023 16:11:22 +0000

What are the economic and financial system early warning signs that we should heed rather than get caught up in fearmongering? When should we start to worry about ballooning budget deficits, the national debt, a currency collapse, or the stock market? Topics covered include: Show Notes The Dawn of Everything: A New History of Humanity […]

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448: Where Are Interest Rates Headed Next? Insights from the Jackson Hole Symposium

David Stein — Wed, 20 Sep 2023 15:54:47 +0000

Why you might want to lock in higher yields now, given real interest rates are the highest they have been in 15 years. Topics covered include: Show Notes Jackson Hole Economic Policy Symposium: Structural Shifts in the Global Economy—Federal Reserve Bank of Kansas City Policymaking in an age of shifts and breaks by Christine Lagarde—European […]

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447: Our Car Was Attacked. Is Property Crime Increasing?

David Stein — Wed, 13 Sep 2023 16:10:11 +0000

David shares how thieves recently tried to smash and grab his luggage from his car while he was still inside it. He then explores property crime trends, whether they are increasing or decreasing, and why. Topics covered include: Show Notes Chevron Oakland Hegenberger Rd—Yelp Myths and Realities: Understanding Recent Trends in Violent Crime by Ames […]

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446: Die with Zero: Why You Should Start Spending Now

David Stein — Wed, 06 Sep 2023 17:17:04 +0000

How to balance saving, investing, and spending for a fulfilling life. Why you will probably reach your peak net worth sooner than you think and should start drawing down your nest egg earlier. Why we can’t optimize for a fulfilling life but can still have one. Topics covered include: Show Notes Die with Zero: Getting […]

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445: From Boom to Bust—Why China’s Stocks Lagged Behind Its Economy & Where to Invest Next

David Stein — Wed, 23 Aug 2023 16:01:17 +0000

Explore the surprising disconnect between China’s booming economy and its underperforming stock market, and discover where the next investment opportunities lie. Topics covered include: Show Notes State-Owned Enterprises Going Public: The Case of China by Xiaozu Wang, et al.—SSRN A Model of China’s State Capitalism by Xi Li, et al.—SSRN Has China given up on […]

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444: Natural Disasters: Are They Truly Increasing?

David Stein — Wed, 16 Aug 2023 17:38:50 +0000

From raging wildfires to devastating floods, how are these natural events reshaping our financial landscape? What if anything, should we be doing with our investments as a result? Topics covered include: Show Notes Why the fires in Hawaii have been so bad—The Economist CAMS: monitoring extreme wildfire emissions in 2022—Copernicus A human-driven decline in global […]

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443: Five Surprising Insights About Stock Indexes and Funds

David Stein — Wed, 09 Aug 2023 16:41:24 +0000

Some insights only come by having the right tools. We share five things we have learned about stock index valuations, earnings, currency, and why value investing isn’t dead. Topics covered include: Show Notes Asset Camp Money for the Rest of Us Plus Episode Sponsors Use code MONEY10 to get 10% off on your NAPA Autoparts online […]

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442: Crisis-Proof Investing: Strategies for a Shaky Future

David Stein — Wed, 02 Aug 2023 17:16:59 +0000

Given climate change and other risks, how should you invest for the next forty years? Topics covered include: Show Notes The Third Wave by Alvin Toffler—Penguin Random House Parcel shipping index 2022—Pitney Bowes America Is Drowning in Packages by Amanda Mull—The Atlantic How to Spend Way Less Time on Email Every Day by Matt Plummer—Harvard […]

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441: What If Social Security Had Been Privatized?

David Stein — Wed, 26 Jul 2023 17:59:52 +0000

In 2005, Congress debated giving U.S. workers private savings accounts to invest their Social Security contributions in the stock and bond markets. Sixteen years later, we review how that would have worked out for workers. Topics covered include: Show Notes Greenspan “There is nothing to prevent the government from creating as much money as it […]

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440: Beware of Platform Risk

David Stein — Wed, 19 Jul 2023 17:09:55 +0000

How to mitigate the risk of investing on crowdfunding platforms where there is little transparency on the underlying financial health of the platform company. Topics covered include: Show Notes Amazon: Independent Sellers In The U.S. Sold More Than 4.1 Billion Products in 2022 by SGB Media—SGB Media PeerStreet LinkedIn Post by Brett Crosby—LinkedIn Crowdfunding platform […]

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Portfolio Trade: Adding AI Influenced Growth Stock ETFs

David Stein — Fri, 14 Jul 2023 16:06:21 +0000

439: How and Why to Invest in AI

David Stein — Wed, 12 Jul 2023 19:30:23 +0000

AI models like ChatGPT could lead to massive productivity gains, accelerated economic growth, and higher stock returns. Here’s how to invest in AI. Topics covered include: Show Notes Sarah Silverman Sues OpenAI and Meta Over Copyright Infringement by Zachary Small—The New York Times ChatGPT saw its first-ever user decline in June by Igor Bonifacic—Engadget A […]

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438: Why Are You Investing? Defining Your Rich Life with Ramit Sethi

Camden Stein — Wed, 28 Jun 2023 16:18:35 +0000

Camden and Bret sit down with Ramit Sethi, host of Netflix’s hit show, “How to Get Rich”, author of the New York Times bestseller, “I Will Teach You To Be Rich” and host of the popular “I Will Teach You To Be Rich” podcast. He is known for his unconventional insights on money psychology and […]

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437: How to Live Like You Are Already Retired

David Stein — Wed, 21 Jun 2023 16:33:03 +0000

How to create and sustain a life of freedom and happiness that you don’t want to retire from. Topics covered include: Show Notes Politics by Aristotle How Much is Enough? Money and the Good Life by Robert Skidelsky and Edward Skidelsky—Penguin Random House Cormac McCarthy Had a Remarkable Literary Career. It Could Never Happen Now. by Dan […]

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436: Revisiting Carbon, SPACs, Silver, Convertible Bonds, and Frontier Markets

David Stein — Wed, 14 Jun 2023 17:31:17 +0000

We review the performance and investment prospects for carbon, SPACs, silver, convertible bonds, and frontier markets. Topics covered include: Episode iframe Show Notes Initial Public Offerings: Updated Statistics by Jay R. Ritter—Warrington College of Business, University of Florida Two SPAC ETFs Close in One Month, Suggesting End to Wall Street Boom by Emily Graffeo—Bloomberg Investments […]

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435: Is It Better to Rent or Buy a House?

David Stein — Wed, 07 Jun 2023 17:42:01 +0000

How to decide whether to rent a house or apartment or purchase a home or condo. What has been the financial return from owning a house? Topics covered include: Show Notes The housing theory of everything by John Myers & Ben Southwood & Sam Bowman—Works in Progress Irish property: the boom that shows no signs of slowing by Jude […]

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434: Don’t Be Afraid To Invest In Commercial Real Estate

David Stein — Wed, 24 May 2023 17:36:53 +0000

Why equity real estate investment trusts should be part of your investment portfolio despite the office sector’s struggles. Topics covered include: Show Notes Slow Return to Work Pummels Office Stocks by Peter Grant—The Wall Street Journal REITs Likely to Attract Growing Interest from Private Real Estate Funds by Sarah Borchersen-Keto—Nareit Episode Sponsors Brooklinen – Get […]

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433: What Happens If The U.S. Defaults On Its Debt? Here’s Why It Won’t

Camden Stein — Wed, 17 May 2023 16:15:53 +0000

What are the grave consequences if the U.S. debt ceiling isn’t increased and the government defaults? What would the Federal Reserve and the Executive Branch do to prevent default if Congress doesn’t act? Topics covered include: Show Notes The Debt Limit Since 2011—Congressional Research Service 7 doomsday scenarios if the U.S. crashes through the debt […]

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432: Are the Economy and Financial Markets Zero-Sum Games?

David Stein — Wed, 10 May 2023 17:51:45 +0000

Does there need to be a loser for every winner when it comes to investing and economic growth? Topics covered include: Show Notes Zero-Sum Game by Eric Nielsen—Richmond Fed The Arithmetic of Active Management by William F. Sharpe—The Financial Analysts’ Journal With the Odds on Their Side, They Still Couldn’t Beat the Market by Jeff […]

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431: The Long-term Bullish Case for Gold

David Stein — Wed, 03 May 2023 17:30:49 +0000

Why you should allocate a small percentage of your assets to gold. Topics covered include: Show Notes Central banks load up on gold in response to rising geopolitical tensions by Daria Mosolova—The Financial Times Above-ground stocks—Gold Hub Central bank holdings—Gold Hub Does the Federal Reserve own or hold gold?—The Federal Reserve Trey Reik—LinkedIn M2 and […]

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430: How Should Personal and National Wealth Be Measured?

David Stein — Wed, 26 Apr 2023 17:39:44 +0000

How we measure wealth, riches, abundance, and well-being is more important today than ever. Topics covered include: Show Notes An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith—Early Modern Texts About Adam Smith—Adam Smith Institute An Inquiry Into the Nature and Origin of Public Wealth and Into the Means […]

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429: Which Inflation Protection Strategies Worked and Which Didn’t?

David Stein — Wed, 19 Apr 2023 16:00:00 +0000

With a total U.S. inflation rate of 14% in the past two years, we review how various inflation hedges performed over the past twenty-four months. Topics covered include: Show Notes CPI Inflation Calculator—U.S. Bureau of Labor Statistics Inflation Beneficiaries ETF—Horizon Kinetics Quadratic Capital Management Episode Sponsors Brooklinen Use code DAVID20 for $20 off plus free […]

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428: How the Coming Credit Crunch Could Harm the Economy and Real Estate Prices

David Stein — Wed, 12 Apr 2023 16:13:55 +0000

How accelerating bank deposit withdrawals could harm the economy, including real estate prices. How dollars slosh around the financial system but always seem to end up at the Federal Reserve. Topics covered include: Show Notes Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks—The Federal Reserve Assets and Liabilities of […]

The post 428: How the Coming Credit Crunch Could Harm the Economy and Real Estate Prices first appeared on Money for The Rest of Us.

427: Did the Tariffs Work? The Trade War Five Years Later

David Stein — Wed, 05 Apr 2023 16:44:40 +0000

What has been the impact on trade and the trade deficit since the U.S. implemented tariffs on steel, aluminum, and goods made in China? Topics covered include: Show Notes The ‘ship backup has ended’ at Los Angeles, Long Beach ports by Alejandra Salgado—Supply Chain Dive America’s Trade Deficit Surged in 2022, Nearing $1 Trillion by […]

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426: Which is Best – Active or Passive, ETFs or Funds?

David Stein — Thu, 30 Mar 2023 16:00:00 +0000

David has a fascinating discussion with Kristof Gleich about active management, indexing, and how ETFs and mutual funds really work. Topics covered include: As the president and CIO of Harbor Capital Advisors, Inc. Kristof Gleich oversees all Investment, Distribution & Marketing and Executive Office functions at Harbor. He provides insight while helping lead Harbor’s strategic […]

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425: How Profits Motivate Change

David Stein — Wed, 22 Mar 2023 18:12:08 +0000

“If something is profitable, it will be done,” says Martin Wolf of the Financial Times. We explore how profits will drive the energy transition and how and where water from the Colorado River will be used. Topics covered include: Show Notes The market can deliver the green transition by Martin Wolf—The Financial Times Where the […]

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424: Are More Bank Runs Coming? The Collapse of Silicon Valley Bank

David Stein — Wed, 15 Mar 2023 16:20:58 +0000

What caused Silicon Valley Bank to collapse in only 44 hours, and how likely will the contagion spread leading to other bank failures? Topics covered include: Show Notes Silicon Valley Bank launches $2.25bn share sale to shore up capital base by Joshua Franklin and Antoine Gara—The Financial Times US Bank Capital Regulation: History and Changes […]

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Portfolio Trade: Adding CLO ETF

David Stein — Sat, 11 Mar 2023 15:31:37 +0000

423: A “Safe” 6% Yield: The Case for Investment Grade CLOs

David Stein — Wed, 08 Mar 2023 16:59:40 +0000

How leveraged loans and CLOs work and how to invest in them. What are the risks and opportunities with the new CLO ETFs. Topics covered include: Show Notes Companies, Lenders Clash Over Loan Spreads in Switch from Libor by Mark Maurer—The Wall Street Journal Libor: The Spider Network—The Wall Street Journal Collateralized Loan Obligations (CLOs) […]

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Portfolio Trade: Purchased Individual Treasury Inflation Protection Security

David Stein — Fri, 24 Feb 2023 16:40:44 +0000

422: This Stock Has a 15% Dividend Yield and Has Outperformed Warren Buffett. Should You Invest?

David Stein — Wed, 22 Feb 2023 17:03:37 +0000

Do activist hedge funds including Carl Icahn’s add value? Should you invest in Icahn Enterprises L.P., a conglomerate with a 15% dividend yield and a stake in Carl Icahn’s hedge fund? Topics covered include: Show Notes Icahn Enterprises L.P. The Activism of Carl Icahn and Bill Ackman by Jason D. Schloetzer and Richard Lee—SSRN The […]

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421: Beware of Survivorship Bias When Investing

David Stein — Wed, 15 Feb 2023 17:23:53 +0000

Why long-term U.S. stock market outperformance could be because it has avoided major catastrophes. Does an over-reliance on historical U.S. stock returns when modeling retirement outcomes lead to spending rates that are too high? Topics covered include: Show Notes Homefacts Survivorship Bias—Matt Rickard Is The United States A Lucky Survivor: A Hierarchical Bayesian Approach by […]

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420: Does a 60/40 Balanced Portfolio Still Work?

David Stein — Wed, 08 Feb 2023 17:00:00 +0000

What are the pros and cons of a simple stock and bond portfolio consisting of two funds or ETFs? Given U.S. stocks have significantly outperformed the rest of the world over the past decade, is there even a role for non-U.S. stocks in your investment portfolio? Topics covered include: Show Notes BlackRock vs. Goldman in […]

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419: How to Make Portfolio and Asset Allocation Changes

David Stein — Wed, 01 Feb 2023 17:04:21 +0000

We consider four case studies in which individuals struggle to decide what to do with their investment portfolios. Topics covered include: Show Notes Case studies were pulled from the following Plus episodes: 287 Plus: Coronavirus Update, Mid Month Investment Conditions and Overcoming the Fear of Investing 306 Plus: Member Profile, Bond Investing, and Emerging Technology […]

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Portfolio Trade: Adding to Mortgage REIT Preferred Stock Allocation

David Stein — Sat, 28 Jan 2023 17:16:13 +0000

418: Bond Investing Masterclass

David Stein — Wed, 25 Jan 2023 17:00:00 +0000

What you need to know to confidently invest in bonds. Topics covered include: Show Notes A Complete Guide to Investing in I Bonds and TIPS—Money for the Rest of Us Sponsors Money Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here […]

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417: Will Generative AI Replace Your Job?

David Stein — Wed, 18 Jan 2023 17:39:58 +0000

How sophisticated AI apps from OpenAI and other companies create articles, art, and other works that have never existed. How generative AI will impact business owners, employees, students, and financial markets. Topics covered include: Show Notes We Are Here To Create: A Conversation with Kai-Fu Lee—Edge CNET Is Quietly Publishing Entire Articles Generated by AI […]

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416: Your Nation’s National Debt: 5 Things You Need To Know

David Stein — Wed, 11 Jan 2023 16:57:41 +0000

We analyze the worrisome national debt situation in the U.S., UK, and Japan and consider what will determine the likelihood of default Topics covered include: Show Notes Debt to the Penny—U.S. Treasury Fiscal Data Federal Debt and the Debt Limit in 2022—Congressional Research Service Can the Central Bank Alleviate Fiscal Burdens? by Ricardo Reis—London School […]

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415: Listener Q&A 3

David Stein — Wed, 04 Jan 2023 22:37:54 +0000

We kick off 2023 by answering your questions on making portfolio changes, risk tolerance, the strong dollar, inflation and retirement, influential books, and other topics. Episode Sponsors Thanks to LinkedIn for sponsoring the episode. Use this link to post your job for free on LinkedIn Jobs. Related Episodes 348: Listener Q&A 353: The Pros and Cons […]

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414: Use Caution with Private REITs like Blackstone’s BREIT

David Stein — Wed, 14 Dec 2022 17:02:30 +0000

How public equity REITs differ from private REITs. Why investors are selling out of private REITs and why private REIT sponsors like Blackstone and Starwood are limiting investors’ ability to do so. Topics covered include: Show Notes How the gates closed on Blackstone’s runaway real estate vehicle by Antoine Gara, Sujeet Indap, and Kaye Wiggins—Financial […]

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413: What if the World Stopped Shopping?

David Stein — Wed, 07 Dec 2022 17:35:49 +0000

How to solve the conundrum that consumption reductions lead to economic disasters while benefiting the environment. Topics covered include: Show Notes How the World Really Works: The Science Behind How We Got Here and Where We’re Going by Vaclav Smil The Day the World Stops Shopping: How Ending Consumerism Saves the Environment and Ourselves by […]

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412: Where to Invest Your Cash Savings for Higher Yields

David Stein — Thu, 01 Dec 2022 22:10:45 +0000

What are the best options for safely investing cash. Topics covered include: Show Notes a16z-backed Tellus wants to offer consumers a much better savings rate. Here’s how. by Mary Ann Azevedo—TechCrunch Factors Affecting Reserve Balances—U.S. Federal Reserve Liabilities and Capital: Liabilities: Earnings Remittances Due to the U.S. Treasury: Wednesday Level—FRED What if the Federal Reserve […]

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411: Is Emerging and Frontier Markets Investing Still Worth It? – With Asha Mehta

David Stein — Wed, 30 Nov 2022 18:47:52 +0000

Camden and David converse with Asha Mehta, Managing Partner & CIO at Global Delta Capital about the bullish case for emerging and frontier markets stocks as well as the risks. Topics covered include: Show Notes Power of Capital by Asha Mehta Global Delta Capital Episode Sponsors MasterClass – Get two annual memberships for the price […]

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Portfolio Trade: Buying 10-Year TIPS at Auction

David Stein — Sat, 19 Nov 2022 17:34:14 +0000

410: Is Cryptocurrency Dead?

David Stein — Wed, 16 Nov 2022 17:53:30 +0000

How the bankruptcy of FTX, the world’s third-largest crypto exchange, undermines trust in cryptocurrency and decentralized finance, making it even more difficult for crypto to ever be taken seriously as a monetary alternative. Topics covered include: Show Notes Don’t Miss Out on Crypto: Larry David FTX Commercial The spectacular implosion of crypto’s biggest star, explained […]

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409: What Is the IMF and Why Is It Controversial?

David Stein — Wed, 09 Nov 2022 17:00:00 +0000

How the International Monetary Fund, the world’s economic firefighter, works for global monetary cooperation and prosperity while using its own made-up currency, the SDR. Topics covered include: Show Notes Creation of the Bretton Woods System, July 1944—Federal Reserve History The World Bank International Monetary Fund Sterling devalued and the IMF loan—Cabinet Papers, The National Archive […]

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408: Is Success Due to Hard Work, Talent, or Luck?

David Stein — Wed, 02 Nov 2022 17:33:39 +0000

How to survive in a world where luck and randomness play a pivotal role. Topics covered include: Show Notes Redacted messages to and from Elon Musk—Delaware’s Court of Chancery Elon Musk’s Texts Shatter the Myth of the Tech Genius by Charlie Warzel—The Atlantic Talent Versus Luck: The Role of Randomness In Success and Failure by […]

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407: Worry-Free Retirement Investing

David Stein — Wed, 26 Oct 2022 17:12:57 +0000

How to use laddered inflation-indexed bonds (i.e., TIPS), CDs, fixed annuities, and fixed index annuities to meet retirement living expenses while worrying less about running out of money. Topics covered include: Show Notes Worry-Free Investing by Zvi Bodie and Michael J. Clowes Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an […]

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406: Annie Duke on Better Investing and the Danger of Grit

David Stein — Wed, 19 Oct 2022 16:56:38 +0000

In Episode 406, David and Camden visit with Annie Duke about how to better manage our investment portfolios including when and what to sell. We also discuss a number of behavioral finance topics such as mental accounting, sunk costs, and goal myopia. Annie Duke is an author, speaker, and consultant in the decision-making space, as […]

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405: When Volatility Spikes, Financial Things Break

David Stein — Wed, 12 Oct 2022 16:30:42 +0000

What is volatility and what causes it to rise and fall? How volatility itself contributes to more volatility such as in the example of the chaotic UK government bond market where long-term yields have increased by 4% in 2022. Topics covered include: Show Notes The volatility virus strikes again by Eric Lonergan—Financial Times How ‘Liability-Driven’ […]

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Portfolio Trade: Exiting Simplify Volatility Premium ETF (SVOL)

David Stein — Mon, 10 Oct 2022 18:48:57 +0000

404: Why Is the U.S. Dollar So Strong? Will It Continue?

David Stein — Wed, 28 Sep 2022 18:04:44 +0000

What has caused the U.S. dollar’s currency exchange rate to be the strongest in twenty years? How a strong dollar leads to slower global economic growth and falling asset prices. Topics covered include: Show Notes Wall St blames missteps at FedEx as parcel service fails to deliver Steff Chávez and Andrew Edgecliffe-Johnson—Financial Times The Global Dollar […]

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403: The Pandemic Might Be “Over,” but Not Its Repercussions

David Stein — Wed, 21 Sep 2022 16:00:00 +0000

How risk perceptions and actions have changed over several years of the pandemic. How the pandemic’s impacts continue to affect politics, the economy, financial markets, how we invest, and our personal lives. Topics covered include: Is the pandemic really over? Based on what criteria What percentage of people continue to isolate at home How behaviors […]

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Portfolio Trade: Adding Individual Treasury Inflation Protection Security

David Stein — Wed, 14 Sep 2022 22:17:07 +0000

402: Why Student Debt Is So High and Forgiving It Doesn’t Fix the Problem

David Stein — Wed, 14 Sep 2022 17:13:44 +0000

What are the drivers that lead to higher student loan balances? Why a one-time student loan forgiveness program doesn’t solve the problem of increasing student debt. What are some more viable longer-term solutions. Topics covered include: How big is the Biden Administration student debt forgiveness plan How big has the student debt burden grown Why […]

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401: Why Diversifying Your Portfolio Feels Awful

David Stein — Wed, 07 Sep 2022 16:00:00 +0000

Warren Buffet said, “Diversification makes very little sense for anyone that knows what they’re doing.” He also said, “Diversification is a protection against ignorance…” Most of us need that protection against ignorance, yet diversification often makes us feel bad when some of our holdings don’t do as well as others. We make the case why […]

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400: What If High Inflation Doesn’t End?

David Stein — Wed, 31 Aug 2022 16:00:00 +0000

How economic wars, pandemics, and worker shortages could lead to years of high structural inflation. What needs to happen to avoid this dire inflation scenario. Topics covered include: What are three inflation lessons shared by Federal Reserve Chair Jerome Powell What is inflation anchoring What caused the current period of high inflation How China and […]

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399: Unintended Consequences Impact Everything

David Stein — Wed, 24 Aug 2022 16:00:00 +0000

We explore examples of positive and negative unintended consequences, what causes them, and how to navigate a world where unanticipated things happen all of the time. Topics covered include: Show Notes Large rent increases squeeze metro Phoenix tenants by Associated Press—The Journal Record Unintended Consequences by Karras Lambert and Christopher J. Coyne The Seen, the […]

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398: When Should You Hire An Investment Advisor? Two Case Studies

David Stein — Wed, 17 Aug 2022 16:00:00 +0000

We analyze two listeners’ portfolios. One who is close to retirement and considering hiring an outside money manager. The second is 45 and just sold a business and is trying to decide whether to fire Schwab’s robo-advisor service and manage his portfolio on his own. Topics covered include: What elements are part of a financial […]

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397: How To Invest Based on Cycles

David Stein — Wed, 10 Aug 2022 16:07:17 +0000

This episode edits and remasters two earlier episodes on investing based on cycles to focus on timeless investing principles. Topics covered include: What are different types of cycles Why do cycles have subjective start and end dates. Why do coincidences happen so often. How to position investment portfolios based on cycles. How luck and skill […]

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396: Forsage and Herbalife—How Multi-Level Marketing, Pyramid Schemes, and Ponzi Schemes Differ

David Stein — Wed, 03 Aug 2022 16:06:43 +0000

Why it is so difficult to distinguish a legitimate multi-level marketing company from a pyramid scheme as hedge fund billionaire Bill Ackman found out in his losing campaign against Herbalife. How Forsage has taken pyramid and Ponzi schemes to a whole new level, and why the regulators can’t shut it down. Topics covered include: What […]

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395: How Population Trends Will Impact Growth, Inflation, Investing and Well Being

David Stein — Wed, 27 Jul 2022 16:22:27 +0000

How slowing population growth and an eventual population peak will lead to competition for foreign workers, potentially higher inflation, and ultimately the need to transition to a steady-state economy rather than one based on constantly producing more. Topics covered include: Show Notes World Population Prospects 2022: Summary of Results—United Nations Department of Economy and Social […]

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Portfolio Trade: Reducing Risk and Portfolio Holdings

David Stein — Mon, 25 Jul 2022 18:29:10 +0000

394: How to Get Better at Risk Taking

David Stein — Wed, 20 Jul 2022 16:00:00 +0000

Five ways we can better take and manage risk. Topics covered include: How likely is it that China will invade Taiwan and the stock market will fall 80% Why experts tend to be humble and don’t make specific predictions What is the difference between risk and uncertainty, and between loss capacity and loss aversion What […]

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393: What Happens If Your Brokerage Firm Goes Bankrupt

David Stein — Wed, 13 Jul 2022 16:00:00 +0000

How protected are you if the brokerage firm where you hold your stocks, bonds, and crypto assets files for bankruptcy? Why you shouldn’t store your crypto assets with an online broker. Topics covered include: Show Notes Voyager To Acquire Circle Invest Retail Digital Asset Business From Circle Internet Financial—Cision Welcome, Circle Invest! Voyager Acquires Circle […]

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Portfolio Trade: Further Reducing Gold Exposure

David Stein — Sat, 09 Jul 2022 13:31:27 +0000

392: What Is Money and How to Use It

David Stein — Wed, 29 Jun 2022 16:42:21 +0000

David and his son Camden hold a conversation about money, its attributes, how it’s created, and how money differs from investments. Topics covered include: Part One Part Two Episode Sponsors Policygenius LinkedIn – Post your job for free Real Vision Related Episodes 424: Are More Bank Runs Coming? The Collapse of Silicon Valley Bank Transcript […]

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Adaptive Model Portfolio Changes: Reducing Risk

David Stein — Fri, 24 Jun 2022 06:20:00 +0000

391: How to Survive a Bear Market

David Stein — Wed, 22 Jun 2022 16:00:00 +0000

Three things investors can do to survive this bear market and thrive in its aftermath. Topics covered include: What are bear markets, how often do they occur, and how long do they last How the current bear market differs from previous ones How severe have losses been for various asset classes How have asset class […]

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390: Are BlackRock and Vanguard Too Big and Powerful?

David Stein — Wed, 08 Jun 2022 16:00:21 +0000

How big index fund and ETF providers have increased their sway over publicly-traded companies while potentially discouraging competition. What can be done about it? Topics covered include: How market share for assets under management has become increasingly concentrated with big fund complexes like Vanguard and BlackRock What is a fiduciary relationship and how do asset […]

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389: Is Airbnb Intensifying the Housing Crisis?

David Stein — Wed, 01 Jun 2022 16:23:45 +0000

We explore whether long-term and short-term single-family home rentals are contributing to higher rents, higher home prices, and a housing shortage. What are the options for investing in this space and should we? Topics covered include: What is financialization What are examples of how financialization and government policy has impacted housing How homeownership rates vary […]

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388: Will Quantitative Tightening Lead To Even Greater Financial Losses?

David Stein — Wed, 25 May 2022 16:00:00 +0000

How financial markets and the economy performed last time the Federal Reserve took away the punch bowl by raising its policy rate and pursuing quantitative tightening. Things worked out fine that time. Will it be different this time? Topics covered include: Where did the phrase take away the punch bowl come from How central bank […]

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Portfolio Trade: Closing BlockFi Interest Account

David Stein — Thu, 19 May 2022 12:10:17 +0000

387: Why Most Money Fails

David Stein — Wed, 18 May 2022 16:00:09 +0000

How you should approach money given most of it either collapses or loses its purchasing power due to inflation. Topics covered include: Show Notes Intellabridge Power Women: Maria Eagleton, Mastercard-incubated Blockchain Company, is setting An Example For Women in Cryptocurrency by Shruti Sood—Morning Lazziness @kashdefi, Twitter post, May 7th, 2022 7:54 AM @kashdefi, Twitter post, […]

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Portfolio Trade: Reducing Gold Exposure

David Stein — Fri, 13 May 2022 13:33:54 +0000

386: When Should You Pay a Premium?

David Stein — Wed, 11 May 2022 16:02:16 +0000

What are examples of when it makes sense to pay more than the usual price or fair value for an item or asset? Topics covered include: Why we are willing to pay a premium for convenience, scarcity, status, and to avoid waste What is the difference between net asset value and book value Why business […]

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