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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast 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•Transcript available on Metacast What does the Federal Reserve's policy rate cut mean for our portfolios? Will interest rates keep falling? What changes should we make? Topics include: What determines interest rates, and where are those drivers currently What is the best estimate of bond returns How duration works and why it changes What are some current fixed income investment options Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Monarch Money – Get an extended 30-day free trial Our Pr...
Sep 25, 2024•28 min•Ep 495•Transcript available on Metacast How do home equity investments, income share agreements, and music royalties work, and how can you participate? Topics covered include: How a home equity investment differs from a home mortgage What is the cost of home equity investments How funding education through income share agreements has changed Why artists sell royalties to their work How individuals can invest in music royalties Sponsors NetSuite Delete Me – Use code David20 to get 20% off Insiders Guide Email Newsletter Get our&n...
Sep 18, 2024•24 min•Ep 494•Transcript available on Metacast What caused the 40% price increase in houses and rents, and what are governments doing to try to fix the problem. Topics covered include: Why 50% of the global population is frustrated with the lack of affordable housing How the housing collapse as part of the Great Financial Crisis contributed to today's affordability crisis How central bank QE programs have magnified the housing crisis How restrictive zoning and short-term rentals contribute to the housing crisis What governments are doing to ...
Sep 11, 2024•24 min•Ep 493•Transcript available on Metacast In this episode, we explore the concept of optionality—how small, strategic decisions can lead to outsized rewards with limited downside risk. From ancient philosophy to modern financial strategies, discover how recognizing and seizing options can unlock opportunities in both life and investing. Topics covered include: How call and put options work The difference between American and European style options and why it matters Why options are positively skewed Examples of using optionality in busi...
Sep 04, 2024•23 min•Ep 492•Transcript available on Metacast In Episode 491, we explore the five layers of investing, including which assets fit into each layer, and give examples of advertisements targeting each layer. The five layers are: 1. Short-term trading 2. Longer-term speculations 3. Individual securities 4. Diversified portfolios focused on underlying drivers and factors 5. Maximum diversification with few changes and just a few holdings Episode Sponsors Monarch Money – Get an extended 30-day free trial LinkedIn Jobs – Use this link to pos...
Aug 28, 2024•31 min•Ep 491•Transcript available on Metacast How do buyouts, venture capital, and growth equity work? Has private equity outperformed the stock market, and can individual investors pursue these investment strategies? Topics covered include: How are private equity funds structured, and what are the fees How is private equity performance measured, and how has it performed Why does private equity have such a large dispersion of returns compared to the public stock market What is private equity dry powder, and why is there much of it What are ...
Aug 21, 2024•28 min•Ep 490•Transcript available on Metacast This week, we release one of David's favorite episodes from six years ago, Episode 203: Is Investing More Like Poker or Chess. Topics covered include: What is the difference between chess and poker. Why we need to separate the decision process from the outcome. How to improve the quality of our investment decisions. What are are wu-wei and qi and what role do they play in better decision making. Sponsors Delete Me – Use code David20 to get 20% off Betterment - the automated investing a...
Aug 14, 2024•24 min•Ep 489•Transcript available on Metacast In episode 489, we examine three factors that contributed to this week's big stock market declines, analyze whether a recession is imminent, and review David's recent portfolio changes. Topics covered include: The benefits of looking at market and economic trends monthly How bad was the recent U.S. employment report and what is the Sahm Rule What are leading economic indicators saying about recession risk Why the Federal Reserve will be lowering its policy rate, leading to lower cash yields Why ...
Aug 07, 2024•28 min•Ep 489•Transcript available on Metacast What is the investment case for Ethereum, and what are the risks? A straightforward review of what ether and Ethereum are, how they work, and what it will take for the Ethereum blockchain to be successful. Topics covered include: Who launched Ethereum ETFs and what are the fees How Ethereum differs from Bitcoin Examples of applications built on the Ethereum blockchain including NFTs, stablecoins, DAOs, and tokenized real-world assets How Ethereum has evolved to lower fees, reduce supply, cut its...
Jul 31, 2024•28 min•Ep 488•Transcript available on Metacast What we can monitor and do now in preparation for a 2030s depression, which may or may not arrive. Topics covered include: Why ITR Economics has been predicting a 2030s depression for over a decade. What are the early warning signs we can monitor for increasing risk of economic and financial turmoil What are U.S. and global population predictions by the Congressional Budget Office and the United Nations What is the status of Social Security and what would it take to make it more sustainable...
Jul 24, 2024•28 min•Ep 487•Transcript available on Metacast 
