Money For the Rest of Us

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.

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 marketFor more information on this episode click here.SponsorsLinkedIn - 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 PartnersRelated Episodes296: Why Negative Prices Exist and What Can They Teach Us340: Climate Change, ESG, and What Should Investors Do?351: How to Profit From Carbon Investing While Combatting Climate Change382: Is A Famine Next? Food Inflation, Food Riots, and Investing in Commodities and Other Real ThingsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 Gloomy on Record on Recession Woes by Nikos Chrysoloras—BloombergHot Economy, Rising Inflation: The Fed Has Never Successfully Fixed a Problem Like This by Jon Hilsenrath and Nick Timiraos—The Wall Street JournalTightening risks recession but inaction would be worse by Neil Shearing—Capital EconomicsSeeing What's Next: Using the Theories of Innovation to Predict Industry Change by Clayton M. Christensen, Scott D. Anthony, and Erik A. RothRelated Episodes261: Is Value Investing Dead?266: Using Momentum Investing and Trend FollowingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 EconomistAs sanctions bite Russia, fertilizer shortage imperils world food supply by Tom Polansek and Ana Mano—ReutersAll That’s Stopping a Full-Blown Food Crisis? Rice by Javier Blas—The Washington PostPackaged-food firms are running out of room to raise prices—The EconomistProspective Plantings, March 31, 2022—USDARelated Episodes232: Is It Time To Invest In Commodities?309: Investments to Fight Financial Repression312: What the Federal Reserve’s New Policies Mean For Your Finances336: Own What Is Real338: The National Debt, Inflation, and the U.S. Dollar—What Could Go Wrong?342: Is Another Great Inflation Coming?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 Trades by Liz Hoffman, Corrie Driebusch, and Tom McGinty—The Wall Street JournalU.S. Institutional Equity Trading Commissions Jump 25% to $8.9BN in 2021, According to Bloomberg Intelligence—BloombergLargest stock exchange operators worldwide as of December 2021, by market capitalization of listed companies—StatistaTotal Market Value of U.S. Stock Market—Siblis ResearchETFGI reports the ETFs industry in the United States ended 2021 with record high assets of US$7.21 trillion and record net inflows of US $919.78 billion—ETFGIREIT Industry Financial Snapshot—NareitMortgage REITs—NareitClosed-End Fund Assets and Net Issuance—Investment Company InstituteInvestor Bulletin: American Depositary Receipts—U.S. Securities and Exchange CommissionWhat is an ADR?—Stock Market MBADirect Lenders in the U.S. Middle Market by Tetiana Davydiuk, Tatyana Marchuk, and Samuel RosenBusiness Development Companies (BDCs)—Levin LawRelated Episodes318: What Are SPACs and Should You Invest in Them?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Understanding Transformations in Human and Natural Systems by Lance H. GundersonHorisaki Design & HandelOptimizing SKU Selection for Promotional Display Space at Grocery Retailers by Pak Et al.The Role of Sentiment in the Economy of the 1920s by Kabiri Et al.Monetary Policy and the Management of Uncertainty: A Narrative Approach by Bank of England Publications Et al.Impressed by Numbers: The Extent to Which Novice Investors Favor Precise Numerical Information in a Context of Uncertainty by Batteux Et al.When poignant stories outweigh cold hard facts: A meta-analysis of the anecdotal bias by Freling Et al.Narrative Economics: How Stories Go Viral and Drive Major Economic Events by Robert J. ShillerWalgreens replaced some fridge doors with screens. And some shoppers absolutely hate it by Nathaniel Meyersohn—CNNSupermarket Facts—FMIHow To Want Less by Arthur C. Brooks—The AtlanticRelated Episodes294: How Stories Go Viral and Drive Economic EventsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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-sell-my-info.

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 Eric Beato—Babson Thought & ActionDo We Need Leaders? by Jimmy Guterman_Harvard Business Review Home3 Reasons Why We Need Leaders—Jonathan SandlingIf We’re All Talented People, Why Do We Still Need a Leader? by Angelina Phebus—LifehackTrust, Associational Life and Economic Performance by Stephen KnackIs hybrid work the worst of both worlds?—The EconomistThe Dawn of Everything: A New History of Humanity by David Graeber, David WengrowRelated Episodes203: Is Investing More Like Poker or Chess?280: Travel and the Trust EconomySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.