Many Happy Returns

How would your portfolio cope with a severe economic shock? We’ve picked out five different scenarios to stress test our finances, including recessions, depressions, and sky-high inflation. But how should we think about tail-risks, and what we can do to prepare? And in today’s Dumb Question of the Week: Why haven’t wealth preservation funds preserved wealth this year? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

Politicians are tasked with steering the economy and spreading prosperity. But, shockingly, not all of their claims about money and markets stack up. We discuss common misconceptions in politics and the political truisms that mislead us about investing. And in today’s Dumb Question of the Week: What is insider trading? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

How can we maintain our quality of life in retirement without exhausting our funds? We don’t know how long we will live, and the unpredictability of inflation and market crashes combine to make retirement planning one of the most intricate puzzles in investing. We discuss how to manage the risks and what strategies can help us enjoy our golden years. And in today’s Dumb Question of the Week: Is it best to just live off the dividends? Selected links Does The 4% Rule Work Around The World? | RROld Age and the Decline in Financial LiteracyLives on the Line - tube map life expectancy---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

We’re halfway through the year, and it’s time to take stock. Central banks are approaching the end of the hiking cycle. The S&P 500 has entered a new bull market. And bonds are paying more than 5%. We discuss where the investing opportunities might lie and what risks lurk for the rest of 2023. And in today’s Dumb Question of the Week: Is the 60/40 portfolio dead? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

The UK has the highest inflation of any major economy, and markets expect the Bank of England to keep hiking interest rates in response. But how high could rates go? Will mortgages become unaffordable? We discuss the chances of a recession and whether house prices could crash. And in today’s Dumb Question of the Week: Why do central banks raise interest rates incrementally rather than in one big jump? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

The US Securities and Exchange Commission charged Binance and Coinbase with operating illegal securities exchanges. These are the two biggest names in crypto, accounting for more than half of global trading. Does this mark the beginning of the end of the wild west era of crypto? And in today’s Dumb Question of the Week: What exactly is a security? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

Markets are eerily calm. Stock volatility is low, and the Vix fear gauge has plunged to pre-pandemic levels. But is this the quiet before the storm? With the US debt ceiling now resolved, some fear that replenishing the Treasury’s coffers could rattle the serenity of markets. Others fret about heightened macroeconomic uncertainty. So are markets too complacent? And in today’s Dumb Question of the Week: How do minimum volatility funds work? And do they work? Selected links Certainly Uncertain - AQR Capital Management---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

When it comes to investing, time is your friend. If you get started early, compound returns do a lot of the heavy lifting for you! But what if you didn’t put money into the market when you were young… what if you start investing later in life? We discuss ways to reach our goals and the compromises we might have to make. And in today’s Dumb Question of the Week: Are target-date retirement funds a good option? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

Japanese stocks have hit their highest level in 33 years. With markets closing in on record highs seen in the 1980s, are Japanese stocks finally about to escape the shadow of the bubble? We dig into what’s behind the rally and if it has further to run. And in today’s Dumb Question of the Week: What is a value trap? ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns

Investing is said to involve climbing a wall of worry… so where will the next crisis come from? A good place to look for clues is the Fed’s twice-yearly Financial Stability Report. The latest report highlights risks at banks, money-market funds and commercial real estate, but will they really cause the next crash? And in today’s Dumb Question of the Week: Surely low liquidity just means the price is too high? Selected links Financial Stability Report, May 2023 ---Get in touch 📧 mhr@pensioncraft.com 🎧 many-happy-returns.captivate.fm --- Join PensionCraft 🌐 Become a member at pensioncraft.com ▶️ Subscribe on YouTube ---Disclaimer This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice. Copyright 2023 Many Happy Returns