Money For The Rest Of Us

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 predictionsWhat is the difference between risk and uncertainty, and between loss capacity and loss aversionWhat factors impact our degree of loss aversion and loss toleranceWhy the economy needs more risk takers rather than rentiersFor more information on this episode click here.SponsorsMasterworks - invest in modern artReal VisionShow NotesInvestor Risk Profiling: An Overview by Joachim Klement, CFA—CFA Institute Research FoundationLooming Large or Seeming Small? Attitudes Towards Losses in a Representative Sample by Jonathan Chapman, et al.The Global Impacts of Climate Change on Risk Preferences by Wesley Howden and Remy LevinDoes Mood Take the Front Seat in Determining the Financial Risk-Taking Propensity of Individuals? Evidence from India by Crystal Glenda Rodrigues and Gopalakrishna B. VVenture Capi

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:How traditional brokerage firms protect their client assets in case of bankruptucyHow cryptocurrency brokers, such as Voyager, mistreat their clients in bankruptcy proceedingsWhat is the safest way to hold cryptocurrencyFor more information on this episode click here.SponsorsKeeper - keep your passwords safePolicygeniusMoney For the Rest of Us PlusShow NotesVoyager To Acquire Circle Invest Retail Digital Asset Business From Circle Internet Financial—CisionWelcome, Circle Invest! Voyager Acquires Circle Invest's Retail Customers—VoyagerCrypto lender Voyager Digital files for bankruptcy by Shivam Patel, Sinead Cruise, and Tom Wilson—ReutersCrypto lender Voyager addresses customer anger in first bankruptcy hearing by Dietrich Knauth—ReutersIf a Brokerage Firm Closes Its Doors—FINRACrypto Broker Voya

David and his son Camden conclude their conversation about money.Topics covered include:A review of money principles discussed in Part 1How money is createdHow money is energyWhy bank runs occurHow cryptocurrency fails as moneyHow money is debt backed by debtSponsorsPolicygeniusMoney For the Rest of Us PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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:How our earliest money memories impact our views on moneyThe difference between public and private moneyWhat are the two primary attributes of moneyWhy money should be accepted with no questions askedHow some countries use more cash than othersHow money differs from investingWhy private money can be riskyShow NotesFree email course and PDF on how to beat inflationSponsorsLinkedIn – Post your job for freeReal VisionSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Three things investors can do to survive this bear market and thrive in its aftermath.Topics discussed include:What are bear markets, how often do they occur, and how long do they lastHow the current bear market differs from previous onesHow severe have losses been for various asset classesHow have asset class long-term expected returns changed since last November when the sell-off beganWhat actions can investors take to make it through this bear market and take advantage of opportunitiesFor more information on this episode click here.Episode SponsorsLinkedIn - Post your job for freeReal VisionShow NotesUS Leading Indicators, Updated: Friday, June 17, 2022—The Conference BoardInvestment Mentioned In this EpisodeThe Vanguard Total World Stock Market ETF (VT)ARK Innovation ETF (ARKK)iShares Edge MSCI Intl Value Factor ETF (IVLU)Vanguard Total Bond Market ETF (BND)iShares 20+ Year Treasury Bond ETF (TLT)Related Episodes306: Three Approaches to Asset Allocation326: The New Math of Retirement Spendi

This week on the show, David shares some investing lessons from fly fishing and introduces our new course on How To Invest in Closed-End Funds.Between now and the end of June get 25% off the course. You can learn more here.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 BlackRockWhat is a fiduciary relationship and how do asset managers serve as fiduciariesWhy do investors in index funds and ETFs have no input as to how fund sponsors vote on shareholder proposalsWhat percentage of outstanding shares do Vanguard and BlackRock own of publicly traded companies like Apple, Target, or gun manufacturersHow Vanguard and BlackRock use engagement and voting policies to influence publicly traded companies, particularly when it comes to climate risk and diversityHow ownership by Vanguard and BlackRock in publicly-traded companies in the same industry could discourage competition.What can be done through regulation or through individual action to reduce Vanguard and BlackRock's inf

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 financializationWhat are examples of how financialization and government policy has impacted housingHow homeownership rates vary around the worldHow much of a presence do equity REITs have in the single-family home rental spaceHow a housing shortage and more vacation rentals show up in vacancy ratesHow short-term rentals can magnify the housing shortageWhat are options for investing in single-family home rentalsSponsorsMasterworks - Invest in contemporary paintingsReal Vision - be one of the first to learn about Real Vision's new investing and trading educationShow NotesFinancialization and the World Economy by Gerald A. EpsteinHousing Vacancies and Homeownership (CPS/HVS)—United States Census BureauList of countries by home ownership rate—WikipediaThe Evolution of Homeo

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 fromHow central bank actions can slow the economy and lower inflation.The difference between having cash and having wealthHow quantitative easing and quantitative tightening workWhat happened last time the Federal Reserve pursued quantitative tighteningFor more information on this episode click here.SponsorsFarmTogether - Your farmland investment managerLinkedIn - Post your job for freeShow NotesAddress before the New York Group of the Investment Bankers Association of America on October 19, 1955, by William McChesney Martin, Jr.—FRASERM2—Federal Reserve Economic DataAssets: Total Assets: Total Assets: Wednesday Level—Federal Reserve Economic DataAssets: Securities Held Outright: U.S. Treasury Securitie

How should you approach money given most of it either collapses or loses its purchasing power due to inflation.Get our free six-day email course on how to beat inflation.Topics covered include:How supposedly safe savings apps collapsed, wiping out users' savingsWhy algorithmic stablecoins keep failing and why they are not black swansWhat it takes for money to be successfulHow money differs from investmentsSponsorsComposer automated traded platformWealthfront - get your first $5,000 managed for free for lifeShow NotesIntellabridgePower 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, May 8th, 2022 10:42 AMTerraCryptocurrency TerraUSD Plunges as Investors Bail by Caitlin Ostroff, Elaine Yu, and Paul Kiernan—The Wall Street JournalCryptocurrency TerraUSD Falls to 11 Cents, Creator Announces Rescue Plan by Paul Vigna—The Wall Street Journal@kashdef

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 wasteWhat is the difference between net asset value and book valueWhy business development companies can sell at a premiumWhy farmland REITs sell at a premiumWhy closed-end funds sell at a premiumHow to decide whether to pay a premium or notFor more information on this episode click here.SponsorsMasterworks - invest in contemporary artKeeper - keep your passwords safeShow NotesThe Fall of Netflix and Overlooked Assets W/ David Stein—The Investor's Podcast 445Hercules CapitalGladstone Land CorporationThe Gabelli Utility Trust—Gabelli FundsRelated Content381: Investing in Business Development Companies (BDCs) and other Niche Assets That Trade on Stock ExchangesHow to Invest in Closed-End FundsGuide to Farmland InvestingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice

With many of the largest tech stocks falling over 20% year-to-date, is now the time to invest? Has the market changed to where tech investing is a safe bet?Topics covered include:What happened to NetflixWhat contributed to the astounding performance of large tech stocks since 2013How the largest contributors to overall stock market performance are always changingWhy the largest tech companies could fall even more from today's levelWhat are the valuations and sentiment toward large tech stocksWhat is complexity economics and how does it influence technologyHow younger investors and fractional trading have influenced the stock marketWhy stock splits are less effective today in driving up share pricesFor more information on this episode click here.SponsorsPolicygenius - save over 50% on life insuranceOurCrowd - the fastest-growing venture capital communityShow NotesNetflix stock plunges as subscribers quit by Julianne Pepitone and Aaron Smith—CNN MoneyNetflix Explores a Version With Ads as Subscriber Base S

What causes secular bull and bear markets in commodities. What factors suggest a new commodities bull market has started and how can investors participate. What are the risks.Topics include:What is a bull and bear marketHow long have earlier commodity bull and bear markets lasted and what were the returnsWhat led to the current commodity bear market that began in 2011How shareholder revolts and ESG mandates have contributed to reduced investment in the commodities space, contributing to the rebound in commodity pricesWhy natural gas prices are so much higher in Europe than the U.S.How the shift to electric vehicles is driving the demand for commoditiesWhat are five ways to participate in a commodities bull marketSponsorsLinkedIn - post your job for free by using this linkPolicygeniusShow NotesJeff Currie on the 'Volatility Trap' Keeping Commodity Prices So High - Odd Lots - BloombergNGP Energy CapitalResearch—Strategas SecuritiesThe Energy Blame Game and Other False Narratives—Energy Income PartnersFor more i

How contrarians combine value and momentum to take positions opposite what the consensus believes. What is the consensus view in today's financial markets and how are contrarians positioned.Topics covered include:Five attributes of successful investorsWhy does the consensus expect stagflationHow central banks have performed in previous tightening cyclesThree reasons central banks tightening results in a recessionWhen have interest rates peaked in prior tightening cyclesHow stocks tend to do well when investors get extremely pessimisticWhat are examples of contrarian investments in the current market environmentHow contrarian opportunities involve both value and momentumWhat are some additional examples of being contrarian outside of the investment arenaFor more information on this episode click here.SponsorsOurCrowd - Invest in pre-vetted startupsFarmTogether - Invest in farmlandShow NotesWeekly Market Pulse: Time To Get Contrarian? by Joseph Y. Calhoun III—Alhambra InvestmentBofA Says Fund Managers Most

Why food costs are soaring and what we can do about it. Why inflation rates could start to drop. Why commodity futures, including agriculture futures, have been lousy inflation hedges, and what has worked better.Topics covered include:Previous investment recommendations by Money For the Rest of Us to combat inflationWhy commodity futures hedge against unexpected inflation but have underperformed inflation over the long-termA recommended ETF for investing in commodity futuresWhat is causing the jump in food prices and fertilizerWhy the risk of food shortages is increasing and what are remedies to solve itWhy agriculture price increases don't always lead to higher food costs at the storeWhy inflation rates could slow in the coming monthsFor more information on this episode click here.Episode SponsorsComposer automated trading platform Policygenius Show NotesUkraine War Threatens to Cause a Global Food Crisis by Jack Nicas—The New York TimesRussia’s invasion of Ukraine is causing record-high food prices—The

We review the ten asset categories that trade on major stock exchanges, many of which are smaller niches in which individual investors have an edge over institutional investors.How to invest in business development companies, a small segment of the markets that has returned 9% annualized with dividend yields of 8%.Topics covered include:How securities trading has changed and why are there so many trading platformsWhy do institutions still pay trading commissionsWhen did stock exchanges start and which are the largestWhat are direct and indirect investment vehiclesWhat are the ten asset types that trade on stock exchangesHow to invest in business development companies (BDCs)For more information on this episode click here.SponsorsWealthfront - get your first $5,000 managed for free for lifeLinkedIn - post your first job for freeShow NotesNew York Stock Exchange (NYSE)—Corporate Finance InstituteOff-Exchange Trading To Continue To Grow In US by Shanny Basar—Traders MagazineHow We Analyzed Wall Street Block

Stories determine economic and financial outcomes, both our own and the world in aggregate. Here's how to craft and follow stories that will lead to better financial outcomes and greater happiness.Topics covered include:How financial narratives give us the confidence to take action in the face of uncertainty and potential lossHow the greater the stakes, the more we rely on anecdotal evidence rather than statisticsIs the world more stable and predictable or in a constant state of disorderHow stories determine what we buy and aspire to and how marketers try to influence those storiesHow stories of fear and greed influenced economic outcomes in the 1920s and 1930sHow more precise stories lead to greater confidence and potentially to manipulation.How to get off the hedonic treadmill in order to be happierThanks to OurCrowd and Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesJoseph Campbell & The Hero’s Journey by Tamlorn Chase—Odyssey OnlinePanarchy: Unde

This week, we revisit a classic episode released five years ago. In a newly recorded introduction, David shares the background on the episode and why he chose to release it again in its newly edited form.Topics covered include:The availability heuristic and confirmation biasHow to deal with extreme events when most days are just like the day beforeHow chaos and unpredictability is used as a leadership strategyWhy do we need a point of view to guide our actions when investingHow to manage financially in a increasingly complex and risky worldShow NotesUncertainty – Lawrence M. Krauss – EdgeRegression To the Mean – James J. O’Donnell – EdgeExcerpts from Seth Klarman’s 2016 year end letter to his clients as quoted in the New York TimesMessy: The Power of Disorder To Transform Our Lives – Tim HarfordSeth Godin Course on Presenting To PersuadeUltra-Easy Money: Digging The Hole Deeper? – William R. WhiteSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-

How societies have functioned without leaders, including leaderless megacities that survived over 800 years.Topics covered include:Is geopolitics more like chess or pokerWhy analysts think Putin will soon agree to a settlement with UkraineDo most development occur from the top-down or bottom-upWhat are some examples of leaderless societies and organizationsHow social capital and enforcement mechanisms allow the world to function without leaders telling everyone what to doHow companies are struggling with the workplace of the future and the role of leadershipWhy do we need more leadership and fewer bossesThanks to Mint Mobile and Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesThe Next 100 Years: A Forecast for the 21st Century by George FriedmanThinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie DukePossible Outcomes of the Russo-Ukrainian War and China’s Choice—U.S.-China Perception MonitorWhy Is Leadership Important? by

Will the world experience both inflation and subpar economic growth at the same time?Topics covered include:What is inflation and what causes itWhat have been the largest contributors to recent high inflationWhy does not everyone experience inflation in the same wayWhy inflation measures are subjectiveWhat are long-term deflationary forces faces the global economyWhat is stagflation and what causes itHow do we monitor stagflation to see if it is comingThanks to FarmTogether and LinkedIn for sponsoring the episodeShow NotesConsumer Price Index News Release February 10, 2022—U.S. Bureau of Labor StatisticsAlternate Inflation Charts—John Williams' Shadow Government StatisticsOPEC chief says there's 'no capacity in the world' that could replace Russia's 7 million barrels a day in oil supply-Adam Morgan McCarthy—Markets InsiderSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.