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 debtFor more information on this episode click here.SponsorsPolicygeniusMoney 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 riskyFor more information on this episode click here.Show 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 Spending and InvestingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 influenceFor more information on this episode click here.SponsorsPolicygenius - save over 50% on life insuranceWealthfront - get your first $5,000 managed for free for lifeShow NotesWhat BlackRock, Vanguard and State Street Are Doing to the Economy by Farhad Manjoo—The New York TimesInvestment Company Fact BookWorld's Top Asset Management Firms—ADV RatingWest Virginia Treasury Drops BlackRock Over Stance on Climate Risk by Alicia McElhaney—Institutional InvestorHow an Organized Republican Effort Punishes Companies for Climate Action by David Gelles and Hiroko Tabuchi—The New York TimesThe Future of Corporate Governance Part I: The Problem of Twelve by John C. Coates, IVLarry Fink’s 2022 Letter to CEOs: The Power of CapitalismBlackRock's gun money by Dan Primack—AxiosInvestment Stewardship 2021 Annual Report—VanguardProxy Voting Policy for U.S. Portfolio CompaniesAnticompetitive Effects of Common Ownership by José Azar, Martin C. Schmalz, and Isabel TecuCommon Ownership and Industry Profitability: A Crossindustry View by Haifeng Wang, Jan-Carl Plagge, James Rowley, Roger A Aliaga-DiazHow ESG investing came to a reckoning by Harriet Agnew, Adrienne Klasa and Simon Mundy—Financial TimesRelated Episodes148: Is Your Financial Advisor Loyal to You?234: Index But Don’t Herd340: Climate Change, ESG, and What Should Investors Do?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 rentalsFor more information on this episode click here.SponsorsMasterworks - 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 Homeownership Rates in Selected OECD Countries: Demographic and Public Policy Influences by Dan Andrews and Aida Caldera Sánchez—OECD Journal: Economic StudiesBest Places to Invest in Vacation Rentals in 2021 & 2022—AirDNAAirbnbs Outnumber New York City Apartments in Hot Market by Michael Tobin—BloombergAIRBNB Airbnb Enables “Split Stays” to Ease Inventory Woes by Mitra Sorrells—WITAmid Tucson housing shortage, Airbnbs fill up whole apartment buildings by Carol Ann Alaimo—Tucson.comVacation Rental Industry Statistics—iPropertyManagement.comAverage Airbnb Occupancy Rates By City [2022]—AllTheRoomsInvestments MentionedAmerican Homes 4 Rent (AMH)Invitation Homes (INVH)Sun Communities Inc (SUI)ArrivedRoofstockRelated Episodes154: Do Homeowner Tax Breaks Cause Homelessness?238: The U.S. Is More Socialist Than Denmark Regarding Home Mortgages258: How Financialization Pushes Up Home Prices357: Is a Housing Crash Coming?370 Plus: Investing in Latin America Stocks, TIPS, and Single-Family Rental HomesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 Securities: All: Wednesday Level—Federal Reserve Economic DataAmericans Reported Strong Personal Finances Late Last Year, Fed Finds by David Harrison—The Wall Street Journal270: Repo Rates Soared—Here’s Why It MattersRelated Episodes270: Repo Rates Soared—Here’s Why It Matters295: Federal Reserve Insolvency and Monetizing the National Debt312: What the Federal Reserve’s New Policies Mean For Your FinancesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 investmentsFor more information on this episode click here.SponsorsComposer 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@kashdefi, Twitter post, May 9th, 2022 8:57 PM@kashdefi, Twitter post, May 9th, 2022 9:07 PM@kashdefi, Twitter post, May 12th, 2022 11:01 PMIntellabridge Announces Kash 2.0 and Kash Treasury Product Update—IntellabridgeThere are 99 problems and Tether ain’t $1 by Bryce Elder—Financial TimesTether cuts holdings of commercial paper, says majority of exposure in Treasuries -CTO—ReutersInvestors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing by Ryan Browne—CNBCRelated Episodes333: How The Covid Shock Nearly Destroyed The Financial System373: Are Stablecoins Safe? Should You Own Them?384 Plus: Survey Follow Up, A Stablecoin Collapse, and Trying to Analyze Ripple (unlocked for non Plus members)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 at https://art19.com/privacy#do-not-sell-my-info.

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 Shrinks by Joe Flint and Denny Jacob—The Wall Street JournalNo, you did not see the Netflix mess coming by Robert Armstrong—Financial TimesFANMAG: Because FAANGs Are So Yesterday—DimensionalComplexity and the Economy by W. Brian ArthurRising Risk of Stagflation by Chris Brightman—Research Affiliates"Fractional Trading" by Zhi Da, Vivian W. Fang, and Wenwei Lin"Attention Induced Trading and Returns: Evidence from Robinhood Users" by Brad M. Barber, Xing Huang, Terrance Odean, and Christopher SchwarzRetail Raw: Wisdom of the Robinhood Crowd and the COVID Crisis by Ivo Welch (NBER Working Paper No. 27866. September 2020, Revised October 2020)—National Bureau of Economic ResearchRelated Episodes261: Is Value Investing Dead?298: The Stock Market Is Not the EconomySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.