Shortly after they exchanged hellos, an old friend of Dan's enthusiastically told him about all the money he's made in penny stocks.

And what he said next pretty much stopped Dan in his tracks...

On this week's rant, Dan takes a look at the continued rise of risky speculations in the markets... and gives some advice for anyone still dabbling in them.

Then Dan invites economist Per Bylund in for a conversation about a topic not often discussed on the show. Per is Assistant Professor of Entrepreneurship and Records-Johnson Professor of Free Enterprise in the School of Entrepreneurship at Oklahoma State University.

His research focuses on issues of entrepreneurship, strategic management and organizational economics, especially where they overlap with regulation and policy.

Per explains how the long term effects of regulation are easy to ignore because they are often unseen. But if we want as prosperous a world as possible, we should all pull our head out of the sand and begin to pay attention.

Dan and Per also touch on the minimum wage debate, the Bernie Madoff fraud, and even some common economic fallacies touted by Nobel-Prize-winning economists.

Then on the mailbag, Dan has a couple follow up questions about buying into GBTC. Another listener writes in asking for some clarification on Dan's take on Warren Buffett and gold. And another listener asks Dan's thoughts about when it's time to take some profits off the table in Bitcoin.

Listen to Dan's take on these questions and more on this week's episode.