How can we apply the same emergency measures that Harvard and other universities are using to navigate a financial crisis? Also, how universities invest their endowments and what their performance has been. Topics covered include: What has led to the financial crisis at Harvard What actions has the university taken How do endowments invest and spend their funds How endowments maintain intergenerational equity How we can apply the principles universities use in our own investing Sponsors NetSuite...
May 14, 2025•25 min•Ep. 524
Discover how bond market ETFs have transformed investing — making bonds easier, cheaper, and more accessible than ever. We also explore how the bond market’s very composition has evolved. Episode Sponsors Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes The total return strategy in bonds...
May 07, 2025•26 min•Ep. 523
Ali Akay, CIO of Carrhae Capital, answers why invest in emerging markets. He also shares with Greg Dowling of FEG insights on China, Mexico, South Korea, Argentina, Greece, Turkey, South Korea, and South Africa. Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Emerging Unscathed: Featuring Ali Akay—FEG Insight Bridge Related Episo...
Apr 30, 2025•35 min•Ep. 522
The U.S has traditionally been a safe haven for investing, but that hasn't been the case in 2025. We explore three economic and narrative regimes and consider why we may be witnessing a shift after 12 years of U.S. outperformance. Topics covered include: What was the narrative and economic and financial performance from 1995-2001, 2002-2012, and 2012 -2024. How the performance of the U.S. dollar impacted returns Why did economic forecasters predict the U.S. national debt would be paid off in 201...
Apr 23, 2025•20 min•Ep. 521
In this episode, we explore what it means to invest in a non-ergodic world—where time, not averages, determines outcomes. We unpack concepts like volatility drag, ensemble vs. time averages, and the implications for portfolio strategy, while also reflecting on how AI and zero-click search are reshaping business and investor behavior. Topics covered include: What is ergodicity and why it matters How path dependency and emerging phenomena disrupt the long-term How podcasting and blogging has chang...
Apr 16, 2025•26 min•Ep. 520
What will the impact be now that the U.S. has one of the highest tariff rates in the world? Topics covered include: Why the Trump administration raised tariffs How the last round of U.S. tariffs led to higher prices and lower economic growth Four ways the world remains close to record connectivity Who have been the winners and losers from global trade What will be the impact of this trade war Episode Sponsors Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our&nbs...
Apr 09, 2025•22 min•Ep. 519
Greg Dowling of FEG interviews Max Belmont, a gold specialist and portfolio manager at First Eagle Investments. Greg and Max discuss the historical, philosophical, and practical reasons for owning gold. Topics covered include: Where does gold’s reputation as a safe haven come from, and why it trades differently than other commodities. How gold differs from other asset classes including Bitcoin, which is sometimes referred to as digital gold. How we should think about gold when including it in ou...
Apr 02, 2025•39 min•Ep. 518
We compare three approaches to closed-end fund investing: Opportunistic trading, the buy and hold income factory, and a systematic approach of selling closed-end funds after 5% gains. We also explore the pros and cons of closed-end funds relative to open-end mutual funds and ETFs. Episode Sponsors Stawberry.me NetSuite Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Ca...
Mar 26, 2025•24 min•Ep. 517
How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier. Topics covered include: Two ways countries can increase their competitiveness How savings always equals investment Why excess savings flows to the U.S. leading to a drop in U.S. domestic savings Why the U.S. current trade situation could lead to a debt crisis Episode Sponsors NetSuite LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Insiders Guide Email Newslett...
Mar 19, 2025•23 min•Ep. 516
How the Trump administration is using tariffs as a negotiating tool to weaken the U.S. dollar and increase the global competitiveness of U.S. manufacturers. Topics covered include: Why U.S. stocks are falling, and recession risk is increasing How the U.S. dollar as the reserve currency is becoming a burden on the U.S. How the Trump administration aims to reduce its trade deficit and make it less attractive for foreign governments to own U.S. assets What are the risks of trying to weaken the U.S....
Mar 12, 2025•29 min•Ep. 515
This week on episode 514, we share a conversation between Howard Smith of Indus Capital and Greg Dowling of FEG Investment Advisors on why Japan could surprise investors over the next decade with strong investment returns. David introduces the episode by sharing his key takeaways from the discussion. FEG Investment Advisor is David's former institutional advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and Dav...
Mar 05, 2025•48 min•Ep. 514
We consider the incongruency of a U.S. Strategic Bitcoin Reserve, the latest crypto exchange hack, and how most participants lost money on the Trump meme coin. Given all that, we review some areas where cryptocurrency is helping individuals and businesses. Topics Covered What is the U.S. Strategic Petroleum Reserve Why it makes little sense for the U.S. and individual states to create and participate in a Strategic Bitcoin Reserve What led to the latest and largest cryptocurrency exchange hack i...
Feb 26, 2025•23 min•Ep. 513
How using a deferred income annuity can increase retirement income compared to an immediate annuity or a bond ladder. Topics covered include: How immediate annuities and deferred income annuities work What are mortality credits, and why they are a key diversifier Examples of how mortality credits lead to a 1% to 1.5% higher annualized return over several decades How to decide whether an annuity is right for you Episode Sponsors NetSuite LinkedIn Jobs – Use this link to post your job ...
Feb 19, 2025•26 min•Ep. 512
The U.S. and the UK each announced they were establishing sovereign wealth funds. We explore the purposes and types of sovereign wealth funds, how they invest, and some concerns with the U.S. establishing one. Topics covered include: What are the four types of sovereign wealth funds, and why the U.S. doesn't fit the typical use case How sovereign wealth funds navigate between politics and generating high returns Why a U.S. sovereign wealth fund, depending on its size, could crowd out other inves...
Feb 12, 2025•20 min•Ep. 511
This week on episode 510, we share a conversation between Ben Inker of GMO and Greg Dowling of FEG Investment Advisors on contrarian investing, deep value stocks, and the rise of passive investing. David introduces the episode by sharing his key takeaways from the discussion. FEG Investment Advisor is David's former institutional advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business part...
Feb 05, 2025•51 min•Ep. 510
We explore what private credit, or direct lending, is and how to invest in it. We also show how it is similar and different from investing in leverage loans and CLOs. Topics covered include: Why more companies are staying private How private credit differs from the leverage loan market Why private credit is growing so rapidly What are the benefits to private credit investing What are liquid and less liquid ways to invest in private credit Sponsors Stawberry.me Acorns Insiders Guide Email Newslet...
Jan 29, 2025•26 min•Ep. 509
Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and market-based insurance. Topics covered include: The surprisingly large percentage of natural disaster losses that are uninsured Why natural disaster severity is increasing A deep dive into the complexity of the home insurance market, including state-run home insurance plans How California has tried to update its home insurance regulations, leading to pote...
Jan 22, 2025•23 min•Ep. 508
How geography contributes to economic growth and can increase or lower the cost of living. Topics covered include: Why living in a developing country like Costa Rica is still relatively expensive How Amazon and e-commerce platforms lower the cost of living Why we should consider slowing down our rate of consumption How geography is impacting the rollout of AI Episode Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs NetSuite Insiders Guide Email Newsle...
Jan 15, 2025•26 min•Ep. 507
In episode 506, Joshua shares the pros and cons of living outside of your home country. He convinces David why he needs more than one passport. Finally, Joshua makes a strong case for not retiring, and if one does, under what circumstances. Episode Sponsors Delete Me – Use code David20 to get 20% off Acorns Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the R...
Jan 08, 2025•39 min•Ep. 506
In our final episode of the year, I converse with author and data scientist Coco Krumme about the benefits and costs of optimization in finance, industry, and our daily lives. We explore AI and its overlap with optimization. We also consider the pros and cons of life optimization and finally discuss the extreme challenge of opting out. Episode Sponsors NetSuite Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign ...
Dec 18, 2024•34 min•Ep. 505
How asset class returns move in cycles with periods of above-average returns followed by periods of lower returns. How has the rise of passive indexing led to higher stock valuations, and what does that mean for markets? Sponsors NetSuite - Download the CFO’s Guide to AI and Machine Learning LegalZoom - Use code David10 to 10% off Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Produ...
Dec 11, 2024•31 min•Ep. 504
What are the tangible and intangible factors that have contributed to long-term U.S. stock market outperformance compared to the rest of the world? Despite these advantages, why might we still want to continue to be globally diversified? Sponsors Delete Me – Use code David20 to get 20% off LegalZoom - Use code David10 to 10% off Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asse...
Dec 04, 2024•24 min•Ep. 503
Why has there been renewed interest in nuclear power generation in the last couple of years, and how can we invest in it? Topics covered include: Why did Microsoft sign an agreement to reopen a nuclear reactor at the infamous Three Mile Island nuclear facility How much does nuclear energy contribute to global power generation Why is demand for electricity accelerating What are the advantages and challenges with nuclear energy What investment vehicles individuals can use to invest in nuclear ener...
Nov 20, 2024•21 min•Ep. 502
We explore what strategy and systems are and how we craft and change them. We consider how investment strategies and financial systems have changed over the decades and why this matters to your financial decisions. Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premi...
Nov 13, 2024•29 min•Ep. 501
In the 500th episode of Money for the Rest of Us, we focus on the S&P 500 Index. How has the index changed, and why have U.S. stocks performed so well? Will U.S. stocks only return 3% in the next decade, as Goldman Sachs predicts. We also discuss major themes covered on Money for the Rest of Us over 500 episodes and what are our plans for the future. Thanks for being a part of Money for the Rest of Us over the past decade. Sponsors NetSuite - Download the CFO’s Guide to AI and Machine ...
Nov 06, 2024•27 min•Ep. 500
We explore eight things that contribute to a healthy, growing economy and where Cuba and Argentina have fallen short. Topics covered include: Why Cuba continues to have rolling energy blackouts Why economic sanctions frequently don't work How Argentina's President Millei is taking a "chainsaw" to the nation's economy Why emerging markets will need to change their export-oriented growth trajectory What are the risks to the long-term health of the U.S. economy Sponsors Monarch Money – Get an exten...
Oct 30, 2024•23 min•Ep. 499
In episode 498, David shares how his investing has changed over the past ten years and lessons you can apply to your portfolio. Document Your Journey Keep Experimenting Be Willing to Adopt New Asset Classes Be Very Patient Trade Less, Focus On Long-term Drivers Monetary Diversification Don't Focus on Relative Performance Ignore the Noise Take Your Time There Is No Right Way to Invest Sponsors NetSuite Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our ...
Oct 23, 2024•30 min•Ep. 498
Why 401k and other defined contribution schemes are flawed, leading to a generation of workers unprepared for retirement. What are the solutions to fix the mess. Topics Why 401k and other defined contributions haven't worked, despite their popularity Why defined benefit pension plans declined Why 401k plans are treated like emergency funds How to combine the best of 401k and defined benefit pension plans Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Mona...
Oct 16, 2024•25 min•Ep. 497
Why we need distinct risk buckets: balancing our natural loss aversion with the allure of opportunities that offer the potential for massive upside. Topics covered include: What is modern portfolio theory, and what are some of its flaws Why so many people have gotten wealthy by being undiversified How to balance personal risk, market risk, and aspirational risk How prospect theory explains our attraction to positively skewed opportunities Why most people won't get wealthy unless they take some a...
Oct 09, 2024•26 min•Ep. 496
This week on the podcast, we share excerpts from Plus episode 484 on ETF size and the impact of QE, as well as Plus episode 493 on stock market inelasticity. You can learn more about Money for the Rest of Us Plus here. Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus See Privacy Policy at https://art19.com/privacy and California Privacy Noti...
Oct 02, 2024•28 min
