Money For the Rest of Us

Will the world experience both inflation and subpar economic growth at the same time?Topics covered include:What is inflation and what causes itWhat have been the largest contributors to recent high inflationWhy does not everyone experience inflation in the same wayWhy inflation measures are subjectiveWhat are long-term deflationary forces faces the global economyWhat is stagflation and what causes itHow do we monitor stagflation to see if it is comingThanks to FarmTogether and LinkedIn for sponsoring the episodeFor more information on this episode click here.Show NotesConsumer Price Index News Release February 10, 2022—U.S. Bureau of Labor StatisticsAlternate Inflation Charts—John Williams' Shadow Government StatisticsOPEC chief says there's 'no capacity in the world' that could replace Russia's 7 million barrels a day in oil supply-Adam Morgan McCarthy—Markets InsiderSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What can we do to prepare if the Russian-Ukraine war gets even worse?Topics covered include:How risk and uncertainty differ as does how we manage themWhat we can learn from Ukraine and Russian citizens on dealing with uncertaintyWhat will be the financial impact of the sanctions against Russia and the ruble collapseWhy and how we should all prepare for potential cyberattacksWhy now is the time to make sure you have an appropriate asset allocationHow holding dollars, euros, or stablecoin can help protect against currency collapsesWhat we can do to help UkraineThanks to Masterworks and Policygenius for sponsoring the episodeFor more information on this episode click here.Show NotesJPMorgan Says Selling Stocks Now Carries Too Much Risk by Nikos Chrysoloras—BloombergUkraine conflict: Dread in Kyiv as huge Russian convoy advances by Lyse Doucet—BBCRussia launches fierce rocket attack on Ukrainian city of Kharkiv by Guy Chazan, John Reed, Max Seddon, Henry Foy, John Paul Rathbone, and Demetri Sevastopulo—Financial TimesHow new sanctions could cripple Russia’s economy—The EconomistRussian c.bank orders block on foreign clients' bids to sell Russian securities - document—ReutersUkraine invasion: Russians feel the pain of international sanctions by Anastasia Stognei and Simon Fraser—BBCThe dire predictions about a Russian cyber onslaught haven’t come true in Ukraine. At least not yet. by Joseph Menn and Craig Timberg—The Washington PostHackers Breached Colonial Pipeline Using Compromised Password by William Turton and Kartikay Mehrotra—Bloomberg‘Yes, He Would’: Fiona Hill on Putin and Nukes by Maura Reynolds—PoliticoRelated Episodes229: Tail Events and Tail Risk332: What Is Risk vs Uncertainty?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How to decide the investing scale and timeframe that works best for your temperament.Topics covered include:How stocks perform in the days and weeks following catastrophic eventsWhat are some potential financial impacts of Russia's invasion into UkraineHow complex systems operate at different scales and timeframesWhat are examples of different scales and timeframes for investingHow tactical asset allocation strategies workWhy schema and rules of thumb develop and how do they get passed onHow to decide on which investment approach works best for youThanks to Mint Mobile and LinkedIn for sponsoring the episode.For more information on this episode click here.Show NotesNikkei 225 Index - 67 Year Historical Chart—MacrotrendsPanarchy: Understanding Transformations in Human and Natural Systems by Lance H. Gunderson (Editor)Allocate SmartlyProtective Asset Allocation (PAA): A Simple Momentum-Based Alternative for Term Deposits by Wouter J. Keller and Jan Willem KeuningTrying Not to Try: The Art and Science of Spontaneity by Edward SlingerlandRelated Episodes203: Is Investing More Like Poker or Chess?266: Using Momentum Investing and Trend Following374: Lifecycle Investing, Risk Parity Portfolios, and Why Stocks Are Riskier in the Long RunSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Key takeaways from one of the greatest personal finance novels of all time.Topics covered include:Why it is easier to keep doing the same old thingWhy partners should discuss their financesWhy debt can be suffocatingWhy leverage can be dangerousOne of the most satisfying ways to give away wealthThanks to OurCrowd and Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesMiddlemarch by George EliotMiddlemarch Book Summary—StonoryRebecca Mead/"'Middlemarch' and Me"—The New Yorker (Video)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How lifecycle investing and risk parity portfolios can assist you in having sufficient assets to retire. What are the two types of time diversification and why is one flawed?Topics covered include:What is settled work and what are some examplesHow does lifecycle investing work and should you consider itWhy investing in stocks and other volatile asset classes is riskier over longer holding periodsWhat are risk-parity portfolios and how to evaluate themThanks to Masterworks for sponsoring the episode.For more information on this episode click here.Show NotesThe moral calculations of a billionaire by Eli Saslow—The Washington PostLife-Cycle Investing and Leverage: Buying Stock on Margin Can Reduce Retirement Risk by Ian Ayres and Barry J. NalebuffLifecycle Investing - Leveraging when young, Forum Discussion by Steve Reading on bogleheads.orgWhat Practitioners Need to Know… About Time Diversification (corrected March 2015) by Mark Kritzman—Financial Analysts Journal Volume 71, Number 1Wishful Thinking About the Risk of Stocks in the Long Run: Consequences for Defined Contribution and Defined Benefit Retirement Plans by Zvi BodiePension Obligation Bonds: Know Their Appeal and Pitfalls by Todd Tauzer—SegalShrinkage Estimation in Risk Parity Portfolios by Nabil Alkafri and Christoph FreyPortfolio ChartsHow to Invest in Closed-End Funds—Money For the Rest of UsRelated EpisodesHow to Invest in Closed-End FundsWhy You Should Rebalance Your Portfolio306: Three Approaches to Asset AllocationSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How stablecoins are similar and different from other monetary assets. What are stablecoin risks. Why central bank digital currencies are one of the biggest threats to stablecoins.Topics covered include:Why the Federal Reserve and other central banks are exploring issuing their own digital currenciesWhat is the difference between public and private moneyHow deposit insurance and central bank actions prevent runs on private moneyHow money market mutual funds are a type of stablecoinHow true stablecoins and algorithmic stablecoins differWhat is driving the demand for stablecoinsWhat are the risks of stablecoinsThanks to LinkedIn and Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesMoney and Payments: The U.S. Dollar in the Age of Digital Transformation January 2022—Board of Governors of the Federal Reserve SystemTaming Wildcat Stablecoins by Gary B. Gorton and Jeffery ZhangMoney Stock Measures - H.6 Release—Board of Governors of the Federal Reserve SystemTop Stablecoin Tokens by Market Capitalization—CoinMarketCapTransparency—TetherReport on Stable Coins, November 2021—Various US AgenciesBuilt to Fail: The Inherent Fragility of Algorithmic StablecoinsDr. Ryan ClementsThe Quest for a Truly Decentralized Stablecoin by Brady Dale—Coin DeskCryptocurrency Doesn’t Amount to Much by Steve H. Hanke and Matt Sekerke—The Wall Street JournalRelated Episodes319: Here Come Central Bank Digital Currencies339: How To Make Money with BlockFi, Dai, and the Evolving DeFi Ecosystem333: How The Covid Shock Nearly Destroyed The Financial SystemSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We explore four reasons to sell an asset with a focus on the Ark Innovation ETF, Bitcoin, and equity REITs. We also put the current stock market sell-off into historical perspective.Topics covered include:What are lousy reasons to sell an investmentWhat is a sell disciplineWhat are four good reasons to sell an investmentWhy and why not to invest in the Ark Innovation ETF (ARKK)Why growth stocks are getting crushed in the current market sell-offHow frequently does the stock market correct by more than 10%Thanks to Mint Mobile for sponsoring the episode.For more information on this episode click here.Show NotesBitcoin Bounces Back After Falling Below $33,000 by Anna Hirtenstein—The Wall Street JournalSelling Out, Memos From Howard Marks—Oaktree Capital ManagementHere's Cathie Wood's advice to her fund's investors after a 58% sell-off in Ark's flagship ETF by Matthew Fox—Markets InsiderRelated Episodes291: How To Survive the Coronavirus (COVID-19) Shutdown302: Investing is Not KnowingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What are the pros and cons of the four approaches to managing retirement savings. How to implement a bucketing or time segmentation retirement investing approach.Topics covered include:Why it takes time to find a retirement pattern that fitsHow retirement investing is a balance between safety-first and probability-based as well as maintaining optionality and committing.How total return investing differs from a safety-first approachWhat are products allow for a risk floor but also provide some potential growthHow a time segmentation or bucket approach to retirement investing worksThanks to Policygenius and Masterworks for sponsoring the episode.For more information on this episode click here.Show NotesRetirement Planning Guidebook: Navigating the Important Decisions for Retirement Success (The Retirement Researcher Guide Series) by Wade PfauA Model Approach to Selecting a Personalized Retirement Income Strategy by Alejandro Murguia and Wade D. PfauThe Four Approaches to Managing Retirement Income Risk by Wade D. PfauBuild Ladders With iBonds® ETFs—iSharesRelated Episodes279: Why All Retirees Should Consider an Income Annuity306: 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.

Small and mid-cap stocks have underperformed large-cap stocks for over a decade. Is now the time to increase your allocation?Topics covered include:How big are small and mid-cap stocksHow have small and mid-cap stocks performed relative to large-cap stocksHow have active small and mid-cap managers performed relative to indexing optionsAre bigger IPOs contributing to small and mid-cap stocks underperformanceHow expensive or cheap are small-cap stocks relative to large-capWhat is the capital asset pricing model and how do academics use it to identify outperforming factorsHow value, momentum, and quality drive small-cap stock outperformanceHow to invest in small and mid-cap stocksThanks to Policygenius for sponsoring the episode.For more information on this episode click here.Show NotesThe Morningstar Active/Passive BarometerInitial Public Offerings: Updated Statistics January 5, 2022, by Jay R. Ritter—Warrington College of Business, University of FloridaThe Nexus of Anomalies-Stock Returns-Asset Pricing Models: The International Evidence by Rahul Roy and Shijin SanthakumarThe Cross-Section of Stock Returns before 1926 (And Beyond) by Guido Baltussen, Bart van Vliet, and Pim van VlietFactor Timing: Keep It Simple by Michael Aked—Research AffiliatesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We answer listener questions in our final episode of 2021.Topics covered include:Estimating financial market returns in the next thirty yearsInvesting in artWhether stocks will no longer existHow to start investingFidelity's new Bitcoin ETFHow mutual funds are pricedHow to teach family members about investingVolatility versus drawdownsHow to face the uncertainty of crashing stocks, rising interest rates, and numerous other economic and financial threatsDavid's four most recent investments he made in his personal portfolioThanks to Policygenius and OurCrowd for sponsoring the episode.For more information on this episode click here.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.