Money For The Rest Of Us

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.Episode SponsorsStawberry.meNetSuite Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Closed-End Fund Market, 2023—Investment Company InstituteThe Income Factory: An Investor’s Guide to Consistent Lifetime Returns by Steven Bavaria—McGraw-Hill CompaniesRetirement Money Secrets: A Financial Insider's Guide to Income Independence by Steve Selengut—RIC LLCHow to Invest in Closed-End Funds—Money for the Rest of UsInvesting in Closed-End Funds Course—Money for the Rest of UsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/p

How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier.Topics covered include:Two ways countries can increase their competitivenessHow savings always equals investmentWhy excess savings flows to the U.S. leading to a drop in U.S. domestic savingsWhy the U.S. current trade situation could lead to a debt crisisEpisode SponsorsNetSuite LinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesWhy U.S. Debt Must Continue to Rise by Michael Pettis—Carnegie EndowmentCould Trump devalue the dollar with a "Mar-a-Lago Accord"? by Paul Diggle and Luke Bartholomew—Aberdeen InvestmentsA User’s Guide to Restructuring the Global Trading System by Stephen Miran—Hudson Bay CapitalIs Peter Navarro Wrong on Trade? by Michael Pettis—Carnegie EndowmentRela

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:Why U.S. stocks are falling, and recession risk is increasingHow the U.S. dollar as the reserve currency is becoming a burden on the U.S.How the Trump administration aims to reduce its trade deficit and make it less attractive for foreign governments to own U.S. assetsWhat are the risks of trying to weaken the U.S. dollarEpisode SponsorsDelete Me – Use code David20 to get 20% offStawberry.meInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesStock Market News, March 10, 2025: Nasdaq Falls 4% After Trump Doesn't Rule Out Recession by Caitlin McCabe and Krystal Hur—The Wall Street JournalTrump Says US Economy Faces ‘Transition,’ Avoids Recession Call by María Paula Mijares Torres—

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 advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business partner and colleague.Topics covered in the episode include:The false narrative that Japan is a difficult place to invest with subpar returnsWhy Japan's national debt problem is not as worrisome as the U.S. national debtWhy the Japanese yen is tremendously undervaluedHow Japan's corporate governance has improvedOpportunities in Japanese technology industriesInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur

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 CoveredWhat is the U.S. Strategic Petroleum ReserveWhy it makes little sense for the U.S. and individual states to create and participate in a Strategic Bitcoin ReserveWhat led to the latest and largest cryptocurrency exchange hack in historyHow financial and other data breaches impacted over 1 billion people last year, costing over $15 billionHow quantum computers could disrupt the security of cryptocurrency and traditional financial systemsWhy most speculators lose money on meme coinsWhat are some current ways cryptocurrency is helping individuals and businesses achieve greater financial stability and lower costsEpisode SponsorsDelete Me – Use code David20 to get 20% offStawberry.meInsiders Guide Email NewsletterGet our free Investors' Checklis

How using a deferred income annuity can increase retirement income compared to an immediate annuity or a bond ladder.Topics covered include:How immediate annuities and deferred income annuities workWhat are mortality credits, and why they are a key diversifierExamples of how mortality credits lead to a 1% to 1.5% higher annualized return over several decadesHow to decide whether an annuity is right for youEpisode SponsorsNetSuite LinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesPost: No, really. Deferred income annuities (DIAs) are superior to SPIAs in every way by Boglehead User "GoWithTheCashFlow"—BogleheadsActuarial Life Table—SSATIPSLadderSafety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement by Wade D. Pfau—Retirement ResearcherRelated

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:What are the four types of sovereign wealth funds, and why the U.S. doesn't fit the typical use caseHow sovereign wealth funds navigate between politics and generating high returnsWhy a U.S. sovereign wealth fund, depending on its size, could crowd out other investment capital, leading to lower investment returnsHow the U.S. federal government already invests in its economy without a sovereign wealth fundEpisode SponsorsDelete Me – Use code David20 to get 20% offLinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesFact Sheet: President Donald J. Trump

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 he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business partner and colleague.Topics discussed in the episode include:How experienced professionals can have a significant influence on one's career, such as the impact Jeremy Grantham and David Swenson had on Ben's careerThe impact of the rise of passive investingInvestment opportunities in quality and deep-value stocksThe distinct risks of the high concentration in large-cap tech stocksShow NotesFEG episode pageInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest o

We explore what private credit, or direct lending, is and how to invest in it. We also show how it is similar and different from investing in leverage loans and CLOs.Topics covered include:Why more companies are staying privateHow private credit differs from the leverage loan marketWhy private credit is growing so rapidlyWhat are the benefits to private credit investingWhat are liquid and less liquid ways to invest in private creditSponsorsStawberry.me AcornsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Credit Markets Go Dark by Jared A. Ellias and Elisabeth de Fontenay—SSRNThe Lost Promise of Private Ordering by Cathy Hwang, Yaron Nili, and Jeremy McClane—SSRNInvestments MentionedVanEck BDC Income ETF (BIZD)Barings Corporate Investors Fund (MCI)Long AngleCliffwater Enhanced Lending FundBlackRock Private Credit Fund (BDEBT)BondBloxx P

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:The surprisingly large percentage of natural disaster losses that are uninsuredWhy natural disaster severity is increasingA deep dive into the complexity of the home insurance market, including state-run home insurance plansHow California has tried to update its home insurance regulations, leading to potentially greater coverage but higher premiumsHow socialized insurance relieves the cost burden to consumers but can also lead to riskier behavior and adverse risk selectionEpisode SponsorsAsset CampNetSuite Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesCalifornia wildfires: What we know about L.A.-area fires, what caused them, who is affected and more by Tim

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 expensiveHow Amazon and e-commerce platforms lower the cost of livingWhy we should consider slowing down our rate of consumptionHow geography is impacting the rollout of AIEpisode SponsorsLinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsNetSuite Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesMarket Research in Costa Rica: Costa Rica is a strong market in Central America providing many benefits.—SIS International Research & StrategyWorld Data Country Comparison: Costa Rica & USAWhy is Gas so Expensive in Costa Rica? by Sarah Jordan—The Tico TimesThe Trailblazers: Inter-American Highway 1940 - 1957 by Norman Wood—U.S. Department o

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 SponsorsDelete Me – Use code David20 to get 20% offAcornsInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow Noteshttps://www.radicalpersonalfinance.comRelated Episodes446: Die with Zero: Why You Should Start Spending Now437: How to Live Like You Are Already Retired371: Find Your Retirement Investing and Living StyleSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 SponsorsNetSuite Delete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesOptimal Illusions: The False Promise of Optimization by Coco Krumme—Penguin Random Housecocofolio.comCoco Krumme—LinkedInRelated Episode480: Beyond Faster (T+1) Trade Settlement: The Hidden Costs of OptimizationSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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?SponsorsNetSuite - Download the CFO’s Guide to AI and Machine LearningLegalZoom - Use code David10 to 10% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Equity Risk Premium: Nine Myths (JPM Series) by Rob Arnott—Research AffiliatesThe Greatest Scourge in Factorland: Revaluation Alpha = Fake Alpha (JPM Series) by Rob Arnott—Research AffiliatesPASSIVE INVESTING AND THE RISE OF MEGA-FIRMS by Hao Jiang, Dimitri Vayanos, and Lu Zheng—NBERLimits to Diversification: Passive Investing and Market Risk by Lily H. Fang, et al.—SSRNRelated Episodes503: U.S. Stocks Have Never Been This Overhyped or Expensive500: The S&P 500 I

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?SponsorsDelete Me – Use code David20 to get 20% offLegalZoom - Use code David10 to 10% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesAmerican productivity still leads the world—The EconomistThe Outlook for Long-Term Economic Growth by Charles I. Jones—Federal Reserve Bank of Kansas CityHow Much Will Global Warming Cool Global Growth? by Ishan B. Nath, Valerie A. Ramey, and Peter J. Klenow—UC San DiegoTechnology and demand drivers of productivity dynamics in developed and emerging market economies by Alistair Dieppe, Neville Francis, and Gene Kindberg-Hanlon—European Central BankCapitalism is in worse shape in Eur

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 facilityHow much does nuclear energy contribute to global power generationWhy is demand for electricity acceleratingWhat are the advantages and challenges with nuclear energyWhat investment vehicles individuals can use to invest in nuclear energyEpisode SponsorsNetSuite Delete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesMicrosoft in deal for Three Mile Island nuclear power to meet AI demand by Myles McCormick and Jamie Smyth—The Financial TimesNuclear Power Was Once Shunned at Climate Talks. Now, It’s a Rising Star. by Brad Plumer—The New York TimesIn

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.SponsorsLinkedIn Jobs – Use this link to post your job for free on LinkedIn JobsDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesRuminating on Asset Allocation by Howard Marks—Oaktree CapitalMichael E. Porter—Harvard Business SchoolThis Is Strategy by Seth Godin—Simon & SchusterVictor Meets the Boglehead by Victor Haghani & James White—VettaFi Advisor PerspectivesStatic vs Dynamic Asset Allocation; Victor Meets the Boglehead—Bogleheads.orgTim Cook on Why Apple’s Huge Bets Will Pay Off By Ben Cohen—The Wall Street JournalRelated Episodes491: The Five Layers of Investing451: How Much

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.SponsorsNetSuite - Download the CFO’s Guide to AI and Machine LearningShopify - Sign up for a $1 per month trial periodInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesSelect Sector Indices Consultation on Constituent Weightings Calculations – Results—S&P GlobalWhat Does an Election Year Mean for the Market?—S&P GlobalThe Great Rotation: A potential unwinding of hyper-concentration in the US may favor balanced gl

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 blackoutsWhy economic sanctions frequently don't workHow Argentina's President Millei is taking a "chainsaw" to the nation's economyWhy emerging markets will need to change their export-oriented growth trajectoryWhat are the risks to the long-term health of the U.S. economySponsorsMonarch Money – Get an extended 30-day free trialLegalZoom - Use code David10 to 10% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesCuba is out of supplies and out of ideas—The EconomistCuba plunged into crisis by long power blackouts by Ed Augustin—The Financial Times Power Outage Plunges All of Cuba Into Darkness by Frances Robles—The New York TimesWhy Economic Sanctions Backfire: The

In episode 498, David shares how his investing has changed over the past ten years and lessons you can apply to your portfolio.Document Your JourneyKeep ExperimentingBe Willing to Adopt New Asset ClassesBe Very PatientTrade Less, Focus On Long-term DriversMonetary DiversificationDon't Focus on Relative PerformanceIgnore the NoiseTake Your TimeThere Is No Right Way to InvestSponsorsNetSuite Delete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Investor Podcast 668: What I Learned About Investing w/ Stig BrodersenRelated Episodes454: How To Invest – Ten Rules of Thumb for Individual Investors423: A “Safe” 6% Yield: The Case for Investment Grade CLOs372: When Should You Sell An Investment?336: Own What Is RealSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/p