Jeff Ptak, CFA, is the managing director for Morningstar Research Services. Prior to that, he held positions as the chief ratings officer, head of global manager research, and president and chief investment officer of Morningstar Investment Services. In this episode, we discuss major new trends affecting the mutual fund and exchange-traded fund (ETF) industries, with a special focus on the exponential growth of actively managed ETFs.   Rick Ferri, CFA, a long-time Boglehead and investment adviser, hosts the Bogleheads on Investing podcast. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads have held national conferences in major cities nationwide. Many local Chapters in the US and even a few foreign chapters meet regularly, and New Chapters are added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Mike Piper, CPA, is an expert in taxation and estate planning, known for his work on financial topics including Social Security. He discusses the emotional and logistical challenges for surviving spouses after a loss. Key themes include estate management, organizing important documents, and navigating Social Security benefits while addressing tax obligations. Mike emphasizes the value of pre-established financial relationships and shares insights on inherited IRAs, shedding light on the complexities faced during such difficult times.

Carola Binder, an economics professor at the University of Texas at Austin and author of "Shock Values," dives into the historical context of inflation in America. She discusses the origins of price indexes, including the inaugural index created in 1750, and charts the political ramifications of inflation throughout U.S. history. The conversation reveals how economic shocks shape monetary policy, the struggles surrounding national banks, and lessons from past crises that inform today's strategies for managing inflation. A must-listen for anyone interested in economics!

Aswath Damodaran is a Professor of Finance at the Stern School of Business at New York University,  where he teaches corporate finance and equity valuation. He is known in the investment industry and academia as the Dean of Equity Valuation. Aswath is the author of several widely used academic and practitioner texts on valuation, corporate finance, and investment management, and he maintains a comprehensive database for valuation purposes that can be found on his website.   During this podcast, we will discuss his teaching career, investment philosophy, the equity risk premium in the US and international stocks, index funds, factor investing, and how artificial intelligence is changing the field of finance and changing us.     The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Meir Statman, Glenn Klimek Professor of Finance at Santa Clara University and author of "A Wealth of Well-Being," shares insights on behavioral finance and the emotional aspects of investing. He recounts his family's journey as refugees, emphasizing resilience. The discussion navigates the shift from traditional finance to understanding emotional biases that influence decision-making. Statman advocates for integrating well-being into financial strategies, critiquing the FIRE movement, and highlighting the balance between wealth and happiness.

Jason Zweig is a well-known personal finance journalist, author, and a long-time friend of the Bogleheads.   Jason became a columnist for The Wall Street Journal in 2008, and before that, he was a senior writer for Money magazine and a guest columnist for Time magazine and Cnn.com. From 1987 to 1995, Jason was the mutual funds editor at Forbes. Earlier, he had been a reporter-researcher for the Economy & Business section of Time and an editorial assistant at Africa Report, a bimonthly journal.   Jason is the author of several books, Your Money and Your Brain, The Devil’s Financial Dictionary, The Little Book of Safe Money, and the editor of two revised editions of Benjamin Graham’s classic text The Intelligent Investor, which is discussed in this podcast.     The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Josh Brown is a well-known author, columnist, creator of the widely read blog The Reformed Broker, a commentator on CNBC, and CEO of Ritholtz Wealth Management, an independent investment advisory firm he founded with Barry Ritholtz. In the 1990s and early 2000s, Josh worked for 10 years as a broker at various investment firms, where he learned the hard truths about how clients are routinely treated—and how their money is sent on a one-way trip to Wall Street’s coffers.   A prolific writer, Josh co-authored two books, How I Invest Money and The Clash of the Financial Pundits, and authored two books, Backstage Wall Street, and just released You Weren’t Supposed to See That, which we discuss in this podcast. Josh stopped blogging as The Reformed Broker in 2023 and now publishes the DowntownJoshBrown.com blog.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Christine Benz is the director of personal finance and retirement planning at Morningstar and senior columnist for Morningstar.com. She also co-hosts a podcast for Morningstar, The Long View. Christine is widely quoted in the media and the recipient of several awards, including being named by Barron’s as one of the ten most influential women in wealth management in 2021. She is the author of three books. Her latest, and the focus of this podcast, is How to Retire, 20 Lessons for a Happy, Successful, and Wealthy Retirement.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

In this engaging discussion, David Baughier interviews Rick Ferri, a seasoned investment adviser and Boglehead advocate. They dive into financial independence, sharing insights on asset allocation, the Boglehead philosophy, and the importance of low-cost investing. Rick reflects on his military past and parallels it with his finance journey, highlighting key investment principles like simplicity and diversification. Personal anecdotes enhance the conversation, making the complex world of investing relatable while urging listeners to take action on their financial goals.

Matt Hougan is the Chief Investment Officer of Bitwise Asset Management, the world's largest provider of cryptocurrency index funds with more than $4 billion in assets under management. Before joining Bitwise, Matt held several notable positions in the financial industry, including CEO at Inside ETFs, Managing Director of Global Finance at Informa, and CEO of ETF.com. Matt also co-authored The CFA Institute's publication on ETFs, "A Comprehensive Guide to Exchange-Traded Funds."   Matt is a long-time Boglehead who attended the Bogleheads Conference in years past. I asked him to join me for a no-spin discussion about cyber-currencies. We cover the history of blockchain technology, why cryptology is important to the blockchain, and how this led to Bitcoin, the world's first digital currency, and eventually other digital currencies, including the digital dollar. The discussion is structured as purely educational. There is no sales hype, no recommendations for purchase or sale, and no price speculation.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.