Money For The Rest Of Us

Why equity real estate investment trusts should be part of your investment portfolio despite the office sector's struggles.Topics covered include:Why some office REITs are down 30% in 2023, and owners are walking away from buildingsHow commercial mortgages differ from residential mortgagesThe broad sector diversification found within equity REIT ETFsWhat have equity REITs performed long-term and what drove those returnsWhat is a reasonable return expectation for equity REITsWhy equity REIT prices adjust more quickly than private real estate valuesWhy you should be wary of private REITsFor more information on this episode click here.SponsorsBrooklinen - Get 20% off for their Memorial Day weekend saleMoney Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session.Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email

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:What are the potential impacts of a U.S. default on the stock and bond markets, and the overall economyWhat causes the U.S. to have a perennial debt ceiling crisisWhy it is uncertain when the U.S. government would run out of money to meet its obligationsWhat the Biden Administration could do to prevent a defaultWhat the Federal Reserve could do to prevent a defaultGiven the ongoing crisis, should you shift assets from stocks to cash?For more information on this episode click here.SponsorsUse code MONEY10 to get 10% off on your NAPA Autoparts online order.Masterworks – invest in contemporary artMasterworks Disclosure:“net IRR” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be in

Does there need to be a loser for every winner when it comes to investing and economic growth?Topics covered include:What are zero-sum gamesHow trading can be a zero-sum gameWhy active management and seeking excess returns through security selections or country weights are zero-sum gamesWhy the U.S. stock market has outperformed the rest of the worldWhy economic growth overall is not a zero-sum game, but some aspects of the economy are zero-sum gamesFor more information on this episode click here.SponsorsGo to GetSunday.com/David to get a customized lawn plan and 50% off your first Sunday Lawn Care box.Use code MONEY10 to get 10% off on your NAPA Autoparts online order.Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter.Show NotesWith the Odds on Their Side, They Still Couldn’t Beat the Market by Jeff Sommer—The New York TimesInternational Diversification—Still Not Crazy after All These Years by Cliff

Why you should allocate a small percentage of your assets to gold.Topics covered include:What is money, and how does gold fit with that definitionWhy central banks bought more gold last year than at any time since 1967Which central banks own the most gold and which are increasing their gold holdingsHow fast is the gold supply growing compared to the U.S. dollar money supplyHow financialization, greater leverage, and contagion risk should motivate us to consider goldFor more information on this episode click here.SponsorsHello Fresh – Use code 16david for 16 free meals with free shipping from Hello FreshNetSuite – the leading integrated cloud business software suiteInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter.Show NotesCentral banks load up on gold in response to rising geopolitical tensions by Daria Mosolova—The Financial TimesAbove-ground stocks—Gold HubCentral bank holdings—Gold HubDoes the Federal Res

How we measure wealth, riches, abundance, and well-being is more important today than ever.Topics covered include:How late 18th century philosophers Adam Smith and the Earl of Lauderdale defined wealth and the role of capital. Why they worried about income inequality and excess profitsWhat led to the dramatic increase in life expectancy and wealth in the 20th and 21st centuriesHow a long life expectancy and well-being can be attained at much lower levels of wealthWhy John Maynard Keynes was right about the expansion of the economy but wrong about how many hours we would workHow the U.S. expanded its wealth relative to the rest of world, and at what costWhy natural capital should be included in measuring wealthFor more information on this episode click here.SponsorsMoney Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session.Brooklinen Use code DAVID20 for $20 off plus fre

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:What were investors' and the Federal Reserve's inflation expectations two years agoWhat led to the big inflation increaseWhy was the Federal Reserve forced to raise its policy rate by almost 5% in a yearHow successful were inflation-index bonds, stocks, commodities, and real estate in beating inflation over the past two yearsHow did two active ETFs that set out to protect against inflation performWhat is the current outlook for inflation, and what should investors doFor more information on this episode click here.SponsorsBrooklinen Use code DAVID20 for $20 off plus free shippingGo to GetSunday.com/David to get a customized lawn plan and 20% off your Sunday Lawn Care orderInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter.Show NotesCPI Infla

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:How many deposits have left banks since the Silicon Valley Bank collapseHow much have banks borrowed from the Federal Reserve to meet deposit withdrawalsWhy exiting deposits are harming bank profits and causing them to make fewer loansHow the credit crunch could hurt commercial real estate valuesHow money market mutual funds differ from banksHow today's banking crisis is similar to the 1980s savings and loans crisisWhat should investors do to protect their wealthFor more information on this episode click here.SponsorsMasterworks – invest in contemporary artUse code MONEY10 to get 10% off on your NAPA Autoparts online order.Insiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter.Show NotesFactors Affecting Rese

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:Has the shipping backlog been reduced at U.S. portsWhat are the dangers of running too high of a trade deficitHow large is the U.S. trade deficitWhat has been the impact of U.S. tariffs on trade, domestic production, and pricesHow Chinese direct-to-consumer retail companies Shein and Temu are driving prices of goods ever lowerWhy consumers should demand greater visibility on how products they purchase are madeFor more information on this episode click here.SponsorsUse code MONEY10 to get 10% off on your NAPA online order.NetSuite – the leading integrated cloud business software suiteShow NotesThe ‘ship backup has ended’ at Los Angeles, Long Beach ports by Alejandra Salgado—Supply Chain DiveAmerica’s Trade Deficit Surged in 2022, Nearing $1 Trillion by Ana Swanson—The New York TimesIndustry study tracks China tariffs’ added costs to importers an

David has a fascinating discussion with Kristof Gleich about active management, indexing, and how ETFs and mutual funds really work.Topics covered include:Should individual investors even try to select active mutual fundsIs there an indexing bubbleWhy are there so many new ETFsShould we be worried about an ETF flash crashWhat do ETF market makers and authorized participants doDo SEC yields for international equity mutual funds and ETFs reflect the impact of dividend withholding taxesAs 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 growth plan.Previously, Kristof was a managing director and global head of manager selection at JP Morgan Chase & Co. He has a degree in Physics from University of Bristol. Thanks to NAPA and Sunday Lawn Care for sponsoring the episode.Use code MONEY10 to get 10% off on your NAPA Autoparts online or

"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 is used.Topics covered include:How profits have led to higher energy market share for natural gas and renewal energyWhat is hindering a faster transition to renewablesWhat is contributing to a water shortage in the southwestern U.S,. and how will it be resolvedWhy big infrastructure projects often aren't the best solution to solve a problemWhy some regulation is helpfulFor more information on this episode click here.Show NotesThe market can deliver the green transition by Martin Wolf—The Financial TimesWhere the Water Goes: Life and Death Along the Colorado River by David Owen—Penguin Random HouseEconomics may take us to net zero all on its own by John Burn-Murdoch—The Financial TimesThe Gregor Letter by Gregor Macdonald—SubstackThe Inflation Reduction Act: Here's what's in it—McKinsey & CompanyManagement of the

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:How losses on bonds blew up SVB's balance sheetHow is Silicon Valley Bank similar and different than other regional banksWhat the FDIC and Federal Reserve are trying do to restore confidence and stop bank runsHow a weakening of the Frank-Dodd bank regulation act set the stage for SVB's failureWhy bailing out uninsured depositors is controversialThree scenarios of what might happen nextActions we can take to protect ourselves when private money failsFor more information on this episode click here.SponsorsMasterworks – invest in contemporary artMoney for the Rest of Us Plus membershipShow NotesSilicon Valley Bank launches $2.25bn share sale to shore up capital base by Joshua Franklin and Antoine Gara—The Financial TimesUS Bank Capital Regulation: History and Changes Since the Financial Crisis by John Walter—Economic QuarterlySVB's 44-Hour Collapse Was

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:What are the characteristics of leveraged loans and how David has invested in them in the past, both professionally and personally.Why LIBOR reference rate for leveraged loans is being phased outWhat is the current investing climate for leveraged loansHow collateralized loan obligation workWhy insurance companies are fighting over CLOsWhat are the different ways to invest in CLOsShow NotesCompanies, Lenders Clash Over Loan Spreads in Switch from Libor by Mark Maurer—The Wall Street JournalLibor: The Spider Network—The Wall Street JournalCollateralized Loan Obligations (CLOs) Primer by Jennifer Johnson—NAIC and The Center for Insurance Policy ResearchInvesting In The Middle: Tapping Into Opportunities in Middle Market Lending—AllianceBernsteinTop 10 US CLO Managers: CLO AUM (30 Nov 2022)—CLO ResearchDefault, Transition, and Recovery: 2021 Annual Global Leveraged Loan CL

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:How Icahn Enterprises' (IEP) investment performance compares to Berkshire HathawayHow to analyze individual stocks and why it is challengingWhat are activist hedge funds and do they make a positive performance differenceWhat are the risks and opportunities of investing in IEPFor more information on this episode click here.SponsorsMoney Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session.NetSuite – the leading integrated cloud business software suiteShow NotesIcahn Enterprises L.P.The Activism of Carl Icahn and Bill Ackman by Jason D. Schloetzer and Richard Lee—SSRNThe Long-Term Effects of Hedge Fund Activism by Lucian A. Bebchuk, Alon Brav, Wei Jiang—SSRNDid They Live Happily Ever

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:Why you might consider earthquake insuranceWhat is survivorship bias and what are some examplesWhy the U.S. is an outlier when it comes to stock market performanceWhy the 4% retirement spending rule might be too highIf the 4% spending rule is too high, what can retirees do instead to have enough for retirementWhy the size and scale of the U.S. economy provide some resistance to catastrophesFor more information on this episode click here.Thanks to our SponsorsShopifyMasterworks – invest in contemporary artShow NotesHomefactsSurvivorship Bias—Matt RickardIs The United States A Lucky Survivor: A Hierarchical Bayesian Approach by Jules H. van Binsbergen, Et al.—SSRNThe Financial History of Emerging Markets: New Indices by Bryan Taylor—SSRNThe (Time-Varying) Imp

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:How have 60/40 and similar portfolios performed over the long-termWhat are the advantages and disadvantages of a 60/40 portfolioWhat is the expected return of a 60/40 portfolio and what should be included?What has contributed to U.S. stocks outperforming non-U.S. stocks over the past decadeWhy have emerging markets stocks done so poorlyWhat has to happen for U.S. stocks to continue to outperform non-U.S. stocksFor more information on this episode click here.SponsorsUse this link to post your job for free on LinkedIn Jobs.Go here to sign up for the free weekly Money For the Rest of Us Insiders Guide email newsletterShow NotesBlackRock vs. Goldman in the Fight Over 60/40 by James Mackintosh—The Wall Street JournalBattered 60-40

We consider four case studies in which individuals struggle to decide what to do with their investment portfolios.Topics include:Why it's so difficult to reenter the stock market after sitting on the sidelines and what to do insteadWhat are the risks of having a too aggressive portfolio allocation in retirement and what to do insteadWhat to do when an investment strategy has worked really well but you feel it is time to make a changeHow to decide on an appropriate portfolio mix after a significant financial changeYou can learn more about Money for the Rest of Us Plus here.For more information on this episode click here.Related Episodes306: Three Approaches to Asset Allocation401: Why Diversifying Your Portfolio Feels AwfulShow NotesCase studies were pulled from the following Plus episodes:287 Plus: Coronavirus Update, Mid Month Investment Conditions and Overcoming the Fear of Investing306 Plus: Member Profile, Bond Investing, and Emerging Technology310 Plus: Mid Month Update and a Member Wants to Realloc

What you need to know to confidently invest in bonds.Topics covered include:Key components of bond investing include face value, coupon rates, yield-to-maturity, duration, and convexityHow to decide between owning longer-term or short-term bondsHow to decide whether to own individual bonds or bond funds and ETFsWhen to use active bond management versus bond indexingHow bullet bond ETFs work and when to use themHow to know when to invest in municipal bonds and corporate bondsWhen should you own foreign bondsShould you own bonds in taxable or tax-deferred accountsA bond case study based on current interest ratesFor more information on this episode click here.SponsorsMoney Pickle - Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session.Fundrise - The largest direct-to-investor alternative investment platform in the U.S.Show NotesA Complete Guide to Investing in I Bonds and TIPS—Money for the Rest of UsI

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 include:How AI is creating personal finance articles and other creative worksChatGPT's attempt at writing a script for the Money For the Rest of Us podcastHow ChatGPT and other large language models workWhat are the risks and flaws of generative AIHow can we adapt and take advantage of generative AISponsorsMasterworks – invest in contemporary artNetSuite - the leading integrated cloud business software suiteShow NotesWe Are Here To Create: A Conversation with Kai-Fu Lee—EdgeCNET Is Quietly Publishing Entire Articles Generated by AI by Frank Landymore—FuturismCNET Money—CNETShould You Break a CD Early for a Better Rate by AI engine and edited by Jaclyn DeJohn—CNETNerdWallet, Inc. Q3 2022 Earnings Call—NerdWalletOpenAIThe Backstory of ChatGPT Creator OpenAI by Berber Jin and Miles Kruppa—The Wall

We analyze the worrisome national debt situation in the U.S., UK, and Japan and consider what will determine the likelihood of defaultTopics covered include:How big is the national debt in the U.S., UK, and JapanWhy Japan and UK interest rates have increasedWhen do federal government debts jump the mostWhat two numbers are key to whether a level of national debt is sustainableWhat are five ways indebted countries have reduced the relative size of their debtWhy quantitative easing is not a solution to a national debt crisisFor more information on this episode click here.SponsorsShopify FundriseShow NotesDebt to the Penny—U.S. Treasury Fiscal DataFederal Debt and the Debt Limit in 2022—Congressional Research ServiceCan the Central Bank Alleviate Fiscal Burdens? by Ricardo Reis—London School of Economics and Political ScienceUK government debt and deficit: June 2022—Office for National StatisticsJapan's Experience with Yield Curve Control by Matthew Higgins and Thomas Klitgaard—Liberty Street EconomicsWhat

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.For more information on this episode click here.Episode SponsorsThanks to LinkedIn for sponsoring the episode. Use this link to post your job for free on LinkedIn Jobs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.