Money For the Rest of Us
Money For the Rest of Us
J. David Stein
A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com
How the Economy Really Works: Savings, Investing, Consuming and Market Distortions
A primer on how the economic engine works through coordination between savers, investors, consumers, producers, governments and banks. How hoarding and unfair competition can lead to economic distortions. Topics covered include:How spending and saving are connected including the paradox of thriftHow borrowing money can lead to higher income and savings and potentially to bubblesHow hoarding differs from investing and why too much hoarding can deprive businesses of capitalHow lightbulbs, grocery stores, and kitchen appliances could be examples of unfair competition and planned obsolescence.What role do we play as participants in this coordinated economic dance? Sponsors Betterment – the automated investing and savings app LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs 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 Wait, Is Saving Good or Bad? The Paradox of Thrift—The Federal Reserve Bank of St. Louis Rents: How Marketing Causes Inequality by Gerrit De Geest—Beccaria Books FTC Challenges Kroger’s Acquisition of Albertsons—Federal Trade Commission The Lifespan of Large Appliances Is Shrinking by Rachel Wolfe—The Wall Street Journal Related Episodes 288: Will Early Retirements Crash the Economy? 222: Why We Overpay and How It Contributes To Income Inequality See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Mar 13
27 min
Which Will Perform Better: Berkshire Hathaway or Utility Stocks?
Berkshire Hathaway doesn't pay a dividend, its cash pile keeps growing, and Buffet says it's gotten too big to make acquisitions that can impact the company. Meanwhile, utility ETFs have a steady 3.5% dividend yield. Which will be the better-performing investment going forward? Topics covered include:How has Berkshire Hathaway performed relative to the S&P 500 Index and other active managersWhy Warren Buffett believes Berkshire's electric utility holdings were a mistakeWhy California has some of the highest utility rates in the U.S.Why Berkshire Hathaway will eventually need to pay a dividend even though it doesn't currentlyGoing forward, will it be more profitable to invest in Berkshire Hathaway, a utility ETF, or an index fund Sponsors Shopify - Sign up for a $1 per month trial period NetSuite – Get your free KPI checklist 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 Berkshire Hathaway 2023 Shareholder Letter The Man Preparing for a Berkshire Hathaway Without Warren Buffett by Justin Baer—The Wall Street Journal Warren Buffett admits Berkshire Hathaway’s days of ‘eye-popping’ gains are over by Eric Platt—The Financial Times Active vs Passive Investment Management Barometer Report—Morningstar Buffett sounds wildfire alarm as utilities industry enters new era by Eric Platt and Myles McCormick—The Financial Times Paying for Electricity in California: How Residential Rate Design Impacts Equity and Electrification—Next10 Investments Mentioned Berkshire Hathaway Inc Class B (BRK.B) Vanguard Utilities ETF (VPU) Related Episodes 466: Does Dividend Investing Still Work? 463 Plus: Model Portfolios, UK versus US Valuations, MCI Premium, and MFD Proxy Battle 444: Natural Disasters: Are They Truly Increasing?  242: Should You Let Warren Buffett Manage Your Money? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Mar 6
25 min
Lessons from Japan's 34 Years of Stock Market Underperformance
Japan's stock market recently exceeded the all-time high first set in December 1989. That's 34 years of zero price appreciation for the stock market. What drove this lackluster performance, will it continue, and what can we learn from it? Topics covered include:How big was Japan's stock bubble, and how much did it contribute to the stock market's underperformance over the past three decadesHow do Japan's demographic trends impact its economic challenges, and what are the solutionsWhy Japan's houses are built to depreciate in valueWhat lessons can we learn from Japan's extended bear market Sponsors Monarch Money – Get an extended 30-day free trial 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 Japan’s Nikkei 225 index eclipses record high after 34 years by Leo Lewis—The Financial Times Investors eye further gains after Nikkei breaks through 1989 high by Leo Lewis and Kana Inagaki—The Financial Times Related Episodes 235: What If Home Prices Always Declined 178: Japan and the Impact of A Shrinking Population 73 Plus: Investing In Japan 38 Plus: Time Wealth and Japan See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Feb 28
52 min
Unraveling the Truth About ETFs: Benefits, Analysis, and the Indexing Bubble Myth
How the ETF market is changing, why ETFs should be your preferred investment vehicle, and how to analyze ETFs to generate better investment performance. Topics covered include:How large have fund flows been away from active mutual funds into ETFsHow big are the largest ETF families and how has their market share grownWhy the rise of active ETFs blurs the distinction between active and passive investingWhy there doesn't appear to be an indexing price bubble, but the rise of passive investing has impacted volatility and decreased stock price informativenessA framework for how to analyze markets and select ETFs for your portfolio Sponsors Long Angle is a private community of 2,500 very high net worth investors who leverage their collective expertise and scale to access and underwrite some of the world’s best alternative asset investments. Learn more here. NetSuite – Get your free KPI checklist 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 Global Fund Flows Dominated by Fixed-Income and ETFs—Morningstar It’s Official: Passive Funds Overtake Active Funds by Adam Sabban—Morningstar ETF Issuer League Tables—VettaFi Global ETF Market Facts: three things to know from Q3 2023 by Samara Cohen—iShares Rise of Passive Investing - Effects on Price Level, Market Volatility, and Price Informativeness by Pawel Bednarek—SSRN Investments Mentioned SPDR® S&P 500® ETF Trust (SPY) JPMorgan Equity Premium Income ETF (JEPI) Avantis US Small Cap Value ETF (AVUV) Related Episodes 426: Which is Best – Active or Passive, ETFs or Funds? 321: How to Analyze Complex Investments See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Feb 21
25 min
Does Dividend Investing Still Work?
Stocks that grow their dividends have outperformed non-dividend-paying stocks over the long-term, but not in the past 5, 10, and 20 years. Why are non-dividend paying stocks outperforming dividend growers, and will it continue? Topics covered include:What message do companies say when they initiate, grow, or cut their dividendWhat is dividend smoothingHow have dividend payers performed relative to non-dividend payersWhy have non-dividend payers, which are primarily growth stocks, outperformed dividend payersHow the payout ratio and return on equity impact dividend strategiesWhat are reasons to include dividend strategies in your portfolio Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Betterment - the automated investing and savings app 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 dividend puzzle by Fischer Black—The Journal of Portfolio Management Can Dividend Investing Rise From the Dead? by Jon Sindreu—The Wall Street Journal Einhorn Says Markets ‘Fundamentally Broken’ By Passive, Quant Investing by Matthew Griffin—Bloomberg Your Mutual Fund Stinks. Can This Wall Street Invention Change That? by Jason Zweig—The Wall Street Journal Asset Camp Investments Mentioned WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS) WisdomTree Emerging Markets High Dividend ETF (DEM) Vanguard Dividend Appreciation ETF (VIG) iShares Core S&P 500 ETF (IVV) Related Episodes 429: Which Inflation Protection Strategies Worked and Which Didn’t?  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.
Feb 14
28 min
Transforming Financial Regrets into Portfolio Gains: Five Strategies for Navigating Investment Emotions
Humans are wired to feel regret. Here's how to learn from financial regret to become a better investor. Topics covered include:What cognitive biases make feelings of financial regret unavoidableWe analyze two regret case studies - one from David and one from a Plus memberWhy do we avoid big regrets but manage through small onesFive cognitive tricks to help manage financial regrets Sponsors NetSuite – Get your free KPI checklist Long Angle is a private community of 2,500 very high net worth investors who leverage their collective expertise and scale to access and underwrite some of the world’s best alternative asset investments. Learn more here. Money for the Rest of Us listener survey 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 Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb—Penguin Random House Related Content 448: Where Are Interest Rates Headed Next? Insights from the Jackson Hole Symposium 408: Is Success Due to Hard Work, Talent, or Luck? What Is Risk vs Uncertainty? 53: Should You Invest In Bitcoin? Investments Mentioned Vanguard Long-Term Bond ETF (BLV) Vanguard Extended Duration Trs ETF (EDV) See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Feb 7
26 min
More Ways to Lock in Higher Yields in Case Interest Rates Fall
Professional investors and other market participants are lousy at forecasting interest rates. Here are three more options to lock in higher yields today. Topics covered include:The risk of buying long-term bonds and ETFs to benefit from falling yieldsHow volatility drag has impacted a long-term bond ETF like TLTWhy interest rates won't go up just because the government issues more bondsHow CDs, fixed annuities, and zero-coupon bonds workWe compare and contrast the seven fixed-income options reviewed in this two-part series Sponsors Monarch Money – Get an extended 30-day free trial Money for the Rest of Us listener survey 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 Investors may be getting the Federal Reserve wrong, again—The Economist Today's Best Multi-Year Guaranteed Annuities—Immediate Annuities Zero-Coupon Treasuries Flew Off Shelves During October Yield Surge by Elizabeth Stanton—Bloomberg Investments Mentioned iShares 20+ Year Treasury Bond ETF (TLT) Invesco BulletShares 2029 Corporate Bond ETF (BSCT) Related Episodes 463: How to Lock in Higher Yields in Case Interest Rates Fall 418: Bond Investing Masterclass See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Jan 31
27 min
How To Lock In Higher Yields In Case Interest Rates Fall
With cash yields expected to fall, here's how you can keep your portfolio income elevated by purchasing longer-term individual bonds and bullet ETFs Topics covered include:How future short-term interest rates, inflation expectations, and term premiums impact long-term interest ratesHow each of those rate drivers contributed to the close to 1% drop in interest rates in the past three monthsHow yield to maturity is our guide to locking in a fixed return using individual bonds or bullet ETFsHow bullet ETFs work and what are some examplesWhat are callable bonds and how to analyze themHow to analyze municipal bondsWhy we might want to lock in higher yields today Sponsors Betterment - the automated investing and savings app Money for the Rest of Us listener survey 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 Term Premium on a 10 Year Zero Coupon Bond—FRED Economic Data Investments Mentioned Vanguard Total Bond Market ETF (BND) Invesco BulletShares 2030 Corporate Bond ETF (BCSU) iShares iBonds Dec 2026 Term Trust ETF (IBTG) Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV) Related Episodes 455: Easier Investing, Richer Life: TIPS Ladders to Annuities 453: The Price of Money – 700 Years of Falling, Can Interest Rates Keep Rising? 452: Beyond Stocks: The Allure and Strategy of Credit Investments 448: Where Are Interest Rates Headed Next? Insights from the Jackson Hole Symposium 418: Bond Investing Masterclass See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Jan 24
29 min
Now Should You Buy Bitcoin? The Investment Case for the New Spot Bitcoin ETFs
We explore reasons for buying Bitcoin using one of the new Bitcoin ETFs. We also consider the risks. Topics covered include:Why the SEC finally decided to approve spot Bitcoin ETFsWhat are the fees and structure of these new Bitcoin ETFsHow Bitcoin is similar and different from the fiat money systemWhere Bitcoin fits in an investment portfolio Sponsors Long Angle is a private community of 2,500 very high net worth investors who leverage their collective expertise and scale to access and underwrite some of the world’s best alternative asset investments. Learn more here. NetSuite – Get your free KPI checklist 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 Statement on the Approval of Spot Bitcoin Exchange-Traded Products - SEC Coinbase at the Center of Bitcoin ETF Draws Envy and Risks - Bloomberg Federal Reserve Balance Sheet Related Episodes 362: Should You Invest in a Bitcoin ETF? 355: Which Money Is Crazier: The U.S. Dollar or Bitcoin? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Jan 17
27 min
How Much Should Your Net Worth Grow Each Year?
The intricate dance between profession, risk, lifestyle, and luck in determining how net worth grows. Topics covered include:The various factors that shape the growth of net worth, including professional choices, risk tolerance, and lifestyle decisions.David Stein's personal account of how these elements influenced the trajectory of his financial growth.Insights into the range of net worth increases observed in 2023, driven by the performance of financial markets.The importance of focusing on one's output quality and personal journey of wealth creation, rather than fixating on comparisons with others' net worth. Sponsors Shopify - Sign up for a $1 per month trial period LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs 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 Managing Oneself by Peter F. Drucker—Harvard Business Review Soloing: Realizing Your Life's Ambition by Harriet Rubin—HarperCollins See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Jan 10
26 min
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