In this episode, we explore the intricate world of home-country bias in investment decision-making and learn the secret sauce to effective communication and writing. We start by discussing the definition and influence of home-country bias and explore why investors tend to overweight their portfolios with domestic equities despite global opportunities. We dissect the home bias puzzle, the rationality behind bias, and the conditions under which home-country bias makes sense. Then, Mark McGrath joi...
Mar 07, 2024•1 hr 34 min•Season 2Ep. 294
In this episode, we delve into the world of mindfulness and meditation with renowned author and meditation advocate, Dan Harris. In our conversation, Dan shares his personal journey from a high-stress career in the news to discovering the transformative power of mindfulness meditation. We explore Dan's best-selling book, 10% Happier which chronicles his exploration into mindfulness practices after experiencing a panic attack on live television. We discuss how Dan's quest for inner peace led him ...
Feb 29, 2024•49 min•Season 2Ep. 294
After a year and a half hiatus from discussing Bitcoin, we felt compelled to explore the implications of the US Securities and Exchange Commission's approval of 10 spot Bitcoin ETFs for trading. In this episode, we dive into the recent news surrounding Bitcoin and its entry into the mainstream investment landscape through spot Bitcoin ETFs. To help us unpack this topic is Eric Balchunas, a seasoned ETF analyst at Bloomberg Intelligence and host of the Trillions Podcast. Eric brings a wealth of k...
Feb 22, 2024•52 min•Season 2Ep. 293
In this episode, we welcome Rob Copeland, author of the recently released book The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend. Rob, a finance reporter for The New York Times, provides a gripping account of the rise and unravelling of Ray Dalio and Bridgewater Associates. Bridgewater Associates, one of the prominent hedge funds on the planet, is synonymous with the legendary investor Ray Dalio. In our conversation, we delve into the intricacies of the comp...
Feb 15, 2024•47 min•Season 2Ep. 292
Are you ready for a deep dive into quantitative investing, the private credit trend, and the Canada Pension Plan (CPP)? Then this episode is for you! Joining us today is Robin Wigglesworth, The Financial Times' global finance correspondent, and author of Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever , a groundbreaking book about the past, present, and future of passive investing. We talk with Robin about quantitative investing and the ideas he...
Feb 08, 2024•1 hr 23 min•Season 2Ep. 291
In this episode, we are joined, for the third time, by renowned author and commentator Morgan Housel. Many of you are familiar with Morgan's bestseller, The Psychology of Money , and he is back to discuss his latest book, Same as Ever: A Guide to What Never Changes . He is also the partner at The Collaboration Fund, a network of fund managers investing across asset classes while identifying and supporting companies at the intersection of for-profit and for-good. In our conversation, we delve int...
Feb 01, 2024•1 hr 8 min•Season 2Ep. 290
Does the 4% rule still work? In this episode, we welcome three esteemed experts to counter a recent controversial claim made on the Dave Ramsey Show regarding the validity of the 4% rule in retirement planning. Joining us is David Blanchett; the Managing Director and Head of Retirement Research for PGIM DC Solutions, Michael Finke; a distinguished professor of wealth management at the American College of Financial Services, and Wade Pfau; Director of Retirement Research at McLean Asset Managemen...
Jan 25, 2024•1 hr 13 min•Season 2Ep. 289
Tightwads are more likely to hold onto their money even when there is more than enough to spend, whilst spendthrifts will drain their bank account of its very last cent. So, which one are you, and how does that impact your relationships? Joining us today is the remarkable Marketing Professor and Author, Scott Rick. Scott has just penned a new book, Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships, which serves as a guide for finding happiness while steering throug...
Jan 18, 2024•1 hr•Season 2Ep. 288
It's the start of a new year and with it comes an opportunity to re-evaluate your trajectory and set your goals for the months to come, whether they be financial, personal, or all of the above. Kicking things off for today's episode is our conversation with Steve Balaban, a private equity insider with a refreshingly realistic and practical perspective on private equity. We talk with Steve about investing in private equity, the benefits and drawbacks every investor should know about, why due dili...
Jan 11, 2024•1 hr 36 min•Season 2Ep. 287
Rational Reminder listeners get exclusive first access to Tune Out the Noise, a documentary directed by Academy Award-winner Errol Morris until January 31. Tune Out The Noise Access URL: film.dimensional.com/podcast Access Code (available until Jan 31): RATIONAL In today's episode, Errol Morris, Academy Award-winning film director and author, joins us to talk about his recently released documentary called Tune Out the Noise. The documentary focuses on the revolution that's happened in the financ...
Jan 04, 2024•1 hr 1 min•Ep. 286
It's hard to believe, but today's episode marks our fifth annual year-in-review episode — where we look back at some of our favourite conversations and takeaways from the past year! If there's one overarching theme that stood out amongst our guests in 2023 it would be the power of purposeful decision-making to impact our future selves. Tuning in, you'll hear our guests' remarkable views on the topic, from the power of regret when it comes to long-term decisions to the 'hidden partner' that accom...
Dec 28, 2023•2 hr 5 min•Ep. 285
In this episode, we welcome back the esteemed Professor Scott Cederburg, Associate Professor of Finance at the University of Arizona. In this highly anticipated episode, Professor Cederburg revisits the show to delve into his groundbreaking paper on life cycle asset allocation. Professor Cederburg's latest research presents findings that disrupt traditional thinking in the field, prompting a deep dive into the implications of these new insights. In our conversation, we unpack the findings from t...
Dec 21, 2023•1 hr 9 min•Ep. 284
Today's episode features a series of in-depth segments, and includes a visit from our two favourite Marks; Mark Soth (aka The Loonie Doctor) and Mark McGrath! To kick things off we break down volatility and investor behaviour by looking back at our conversation with Scott Cederburg and what his research demonstrates about the topic. We then hear from Mark Soth about the project that he and Ben have been working on; the soon-to-be-released Money Scope podcast. Find out what you can expect from th...
Dec 14, 2023•53 min•Ep. 283
In this episode, we delve deep into the world of wealth management and family advisory services and explore the evolving landscape of financial wealth planning. Dr. James Grubman, a renowned expert in family wealth psychology and author of Strangers in Paradise and Wealth 3.0 , shares his profound insights and expertise on this critical subject. Dr. Grubman is a distinguished figure in family wealth and well-being and has made a mark with his profound understanding and enduring contributions to ...
Dec 07, 2023•1 hr 14 min•Season 2Ep. 282
Today, we take a closer look at asset allocation through an empirical lens, by drawing on the work and data of Scott Cederburg and his new article 'Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice'. We unpack what the research tells us about how to establish the optimal mix of assets in a portfolio, the challenges of making the right decisions when you have volatile assets, and why it's critical that you understand your level of risk tolerance. Next, in our Mark to Mar...
Nov 30, 2023•1 hr 5 min•Season 2Ep. 281
In this episode, we delve into the complexity of navigating life's challenges, taking risks, fostering self-confidence, and honing problem-solving skills. Joining us is Shane Parrish, a best-selling author, to help us unpack this nuanced topic through the lens of his new book, Clear Thinking. His latest publication is a roadmap for recognizing pivotal moments for clear thought and exposing how our defaults often drive us. He aims to empower readers to intervene, harness reasoning, and apply cogn...
Nov 23, 2023•59 min•Season 2Ep. 280
In this episode, we start by learning about the complex relationship between recessions and stock returns before welcoming Huston Loke and Jordan Solway from the Financial Services Regulatory Authority (FSRA) to discuss protecting consumers in the financial investment space. Huston is the Executive Vice President of Market Conduct, and Jordan is the Executive Vice President of Legal and Enforcement at FSRA. The FSRA supervises insurance companies, mortgage brokers, credit unions, pensions and ot...
Nov 16, 2023•1 hr 35 min•Season 2Ep. 279
If you dive deep into financial advisor fixed effects, you'll begin to understand that an advisor's own portfolio has a bigger impact on the portfolios of their clients than the characteristics of the clients themselves. To help us make sense of this and to further explain financial values and the cross-section of returns, we are joined by the influential and notorious Professor of Finance, Juhani Linnainmaa. Our conversation begins with a comprehensive analysis of financial values, including a ...
Nov 09, 2023•58 min•Season 2Ep. 278
During this episode, Financial Advisor and Associate Portfolio Manager Phil Briggs joins us to discuss the 'cash wedge' financial strategy. He also shares his motivation for joining PWL Capital after kicking off his career in the banking industry. Next, Mark McGrath unpacks the four D's of tax planning and how to implement them in your future planning. We review a much-loved past episode featuring Dr. William Bernstein and unpack the principles taught in Seth Godin's latest book, The Song of Sig...
Nov 02, 2023•49 min•Season 2Ep. 277
If you're in the world of finance, you'd know today's guest from YouTube — but you've probably never heard his real name. However, today and for the first time, he chooses to associate his actual identity with his YouTube channel! It's an honour to introduce to you, Mr. How Money Works himself, Darin Soat. On his YouTube channel, Darin combines captivating storytelling with high-quality, sensible information that helps you to make better financial decisions. Today, he joins us to explain How Mon...
Oct 26, 2023•54 min•Season 2Ep. 276
In this episode, we welcome back Hal Hershfield, Associate Professor of Marketing and Behavioral Decision Making at UCLA Anderson School of Management. Hal is renowned for his pioneering work in understanding how individuals make financial decisions, and he shares invaluable insights that can help us navigate the complexities of financial planning. In our conversation, live from Future Proof, we explore the intersection of behavioural economics, financial decision-making, and the potential for A...
Oct 19, 2023•39 min•Season 2Ep. 275
In this episode, we are trying something different. Recorded live at the CFA Society's Toronto Annual Wealth Conference, we take an exclusive look at the origins and evolution of the Rational Reminder Podcast through an interview with Ben and Cameron. From motivations for starting the podcast to favourite episodes and guests, we delve into the behind-the-scenes of the show. Discover how the podcast has grown, the impact it's had on listeners, and the exciting global reach it's achieved. Get an e...
Oct 12, 2023•1 hr 23 min•Season 2Ep. 274
Today's episode is an exhilarating journey into the captivating realms of finance and human behaviour with Professor Samuel Hartzmark, who takes centre stage to explore the complex intersection of asset pricing and behavioural finance. Professor Hartzmark's career and academic journey are nothing short of inspiring. With a double major in mathematics and economics, a prestigious MBA from the University of Chicago Booth School of Business, and a Ph.D. from the University of Southern California's ...
Oct 04, 2023•1 hr 22 min•Season 2Ep. 273
In this episode, we welcome back one of Canada's most trusted and widely read financial experts to discuss the state of Canadian personal finance. Rob Carrick is a columnist for The Globe and Mail, where he has brought his boots-on-the-ground perspective to readers for more than 20 years. He also co-hosts the Stress Test Podcast, where regular Canadians offer real-life perspectives on the biggest stress tests that their personal finances face in the wake of COVID-19. Tuning in, you'll find out w...
Sep 28, 2023•53 min•Season 2Ep. 272
AI is not new and financial mis-education is rife. These are two ideas that form the foundation of this episode, which features insights from Ben Felix, Mark McGrath, and guest speaker Anthony Walsh. To start our conversation, we explore the history of artificial intelligence and what it might mean for the future and beyond. During this Mark to Market segment, Mark McGrath shares his experience of owning property and becoming a landlord before we look back on Episode 155 with Don Ezra, where he ...
Sep 21, 2023•1 hr 5 min•Season 2Ep. 271
If the wealthiest families of the past century spent a reasonable amount of their wealth, invested in the stock market, and paid taxes, there would be thousands of billionaires today. But there aren't. So, what happened? To answer this question, we are joined by authors and finance professionals, Victor Haghani and James White. Their recently released book, The Missing Billionaires: A Guide to Better Financial Decisions, uses the missing billionaires puzzle to explore how and why most investors ...
Sep 14, 2023•1 hr 36 min•Season 2Ep. 270
This week we welcome back return guest Preet Banerjee, a renowned speaker, personal finance expert, consultant, and author of Stop Overthinking Your Money. Listeners may remember Preet from his previous appearance on the show back in 2019 when he was first embarking on his doctoral journey. Several years and one pandemic later, Preet has finally made it through the monumental task of completing his dissertation! We spend today's conversation with Preet getting into the fascinating details of his...
Sep 07, 2023•1 hr 33 min•Season 2Ep. 269
For nearly 25 years, Exchange Traded Funds (ETFs) have been a popular passive investment vehicle for both household and professional investors due to their low transaction costs and high liquidity. But what are the pros and cons? How can you diversify your portfolio to avoid volatility? Today, we are joined by Professor Itzhak Ben-David, one of the world's foremost academic experts on ETFs, the Neil Klatskin Chair in Finance and Real Estate at The Ohio State University (OSU) Fisher College of Bu...
Aug 31, 2023•1 hr 25 min•Season 2Ep. 268
Today's show is centred on the expected cost of pessimism and how investor expectations of loss negatively affect financial decisions. After concisely exploring the data and literature on the subject, we get into a few solutions to this dynamic and talk about how to find a way around natural human tendencies and myopic loss aversion. We then get into our first Mark's Minutes segment, with our colleague Mark McGrath briefly explaining some interesting ideas about risk and tax-free savings account...
Aug 24, 2023•1 hr•Season 2Ep. 267
We make countless decisions throughout our lives that range from the mundane to the monumental. But how do you decide how you decide? That is the fundamental question in our esteemed guest, Cass R. Sunstein's new book Decisions about Decisions: Practical Reason in Ordinary Life. Cass currently serves as the Robert Walmsley University Professor at Harvard University and is the founder and director of the Program on Behavioral Economics and Public Policy at Harvard Law School. He is also a prolifi...
Aug 17, 2023•1 hr 7 min•Season 2Ep. 266
