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Money For the Rest of Us — Business
Money For the Rest of Us

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

Copyright: © All rights reserved

Latest Episodes:

Own What Is Real Mar 24, 2021

Show notes

There has never been this much money in the world. Now is the time to own real property.

Topics covered include:

How to buy something with Bitcoin
How cryptocurrencies are similar and different from fiat currencies
What is legal tender
Why there has never been this much money in the world
Why central banks can control interest rates but not inflation
What real property should investors own

Thanks to Truebill and Babbel for sponsoring the episode. Use code David for Babbel to get an additional three months free.

For more information on this episode click here.

Show Notes

The Power of Gold: The History of an Obsession by Peter L. Bernstein

IRS Virtual Currency Guidance Announcement 2014-21—Internal Revenue Service

Legal Tender Status—U.S. Department of the Treasury

India to propose cryptocurrency ban, penalising miners, traders - source by Aftab Ahmed, Nupur Anand—Reuters

Executive Order 6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government by Franklin D. Roosevelt—The American Presidency Project

Total Circulating Bitcoin—Blockchain Charts

Federal Reserve statistical release: Factors Affecting Reserve Balances, March 18, 2021—United States Federal Reserve

Money Stock Measures – H.6 Release, March 23, 2021—Board of Governors of the Federal Reserve System

M2 Money Stock/Gross Domestic Product—Federal Reserve Bank of St. Louis

Monthly Budget Review: Summary for Fiscal Year 2020—Congressional Budget Office

A Fed With No Fear of Inflation Should Scare Investors by James Mackintosh—The Wall Street Journal

Biden Administration Officials Put Together $3 Trillion Economic Plan by Ken Thomas and Andrew Duehren—The Wall Street Journal

Turkey faces a currency crisis after Erdogan sacks his central banker—The Economist

Related Episodes

295: Federal Reserve Insolvency and Monetizing the National Debt

316: Paper, Rocks, or Digits—What Makes the Best Money

322: Why Currency Exchange Rates Matter

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Are Non-fungible Tokens (NFTs) Good Investments? Mar 17, 2021

Show notes

How do non-fungible tokens work, what are the risks, and how do NFTs fit within the landscape of investments.

Topics covered include:

Investing in physical art versus cryptoart
How NFTs work on the ethereum blockchain
How Ethereum differs from Bitcoin
What is the purpose of investing and are NFTs investments
How much energy do cryptocurrencies and the financial system consume
What are the risks of NFTs

Thanks to Amazon Pharmacy and SmartAsset for sponsoring the episode.

For more information on this episode click here.

Show Notes

Want to Buy an NFT? Here’s What to Know by AmberBurton—The Wall Street Journal

From Crypto Art to Trading Cards, Investment Manias Abound by Erin Griffith—The New York Times

NFTs, explained by Mitchell Clark—The Verge

HERE IS THE ARTICLE YOU CAN SEND TO PEOPLE WHEN THEY SAY “BUT THE ENVIRONMENTAL ISSUES WITH CRYPTOART WILL BE SOLVED SOON, RIGHT?” by Everest Pipkin

39% of PoW mining is powered by renewables – Cambridge University Cryptoasset study by Gareth Jenkinson—The Daily Chain

Cambridge Bitcoin Electricity Consumption Index

Bitcoin Energy Consumption Index—Digiconomist

Ethereum Energy Consumption Index (beta)—Digiconomist

The Bitcoin vs Visa Electricity Consumption Fallacy by Carlos Domingo—Hacker Noon

How much would you pay for a virtual sofa? by Anne Quito—Quartz

The Wisdom of Finance: Discovering Humanity in the World of Risk and Return by Mihir Desai

Techno-optimism, behaviour change and planetary boundaries by Adair Turner—Keele World Affairs Lectures on Sustainability

Related Episodes

167: Is Bitcoin Better At Money Than The Dollar?

182: Was Tulipmania Just Like Bitcoin?

228: How Tokenization Will Radically Change Investing

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Should You Invest in Farmland? Mar 10, 2021

Show notes

How much can you earn investing in farmland and what are the risks? What are the ways to invest in farmland?

Topics covered include:

What determines farmland investment returns
How much has U.S. farmland appreciated historically
How much income does farmland investing generate
Why the amount of U.S. farmland is shrinking
Has another commodity supercycle started
Why U.S. farmers are dependent on exports
What are farmland investing risks
What farmland investment vehicles are available
How to evaluate a farmland investment opportunity

Thanks to LinkedIn and Policygenius for sponsoring the episode.

For more information on this episode click here.

Show Notes

Farmland Values, Land Ownership, and Returns to Farmland, 2000-2016 by Christopher Burns, Nigel Key, Sarah Tulman, Allison Borchers, and Jeremy Weber—United States Department of Agriculture

Land Values 2020 Summary—United States Department of Agriculture

Farming and Farm Income—Economic Research Service United States Department of Agriculture

Agricultural Markets and Prices: Towards 2025—Organisation for Economic Co-operation and Development

U.S. Agricultural Trade at a Glance—Economic Research Service United States Department of Agriculture

Why Invest In Farmland?—AcreTrader

Farmland Index Posts First Negative Return in 19 Years by Mike Walsten—Pro Farmer

NCREIF Farmland Property Index

Lumber Prices Are Soaring. Why Are Tree Growers Miserable? by Ryan DezemberandVipal Monga—The Wall Street Journal

Pistachio industry looks to reposition product amid supply boom by John Cox—The Bakersfield California

Related Episodes

218: Is China or the U.S. More Vulnerable?

232: Is It Time To Invest In Commodities?

328: Are You Underweight Chinese Stocks? Pros and Cons of Investing in China

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How The Covid Shock Nearly Destroyed The Financial System Mar 03, 2021

Show notes

Why the Federal Reserve had to step in again to sop runs on money market mutual funds and keep the financial system from imploding.

Topics covered include:

What are the differences between shocks and vulnerabilities
What are the four main vulnerabilities the Federal Reserve monitors
How deleveraging and demands for liquidity lead to market stresses
What are the types of money market funds and how were they impacted by the Covid 19 shock
How was Treasury bond trading impacted by the Covid shock
Why the Federal Reserve stepped in to stop the market contagion from spreading
What are the downsides to central bank interventions
What individual investors can do to protect against future shocks

Thanks to Mint Mobile and Truebill for sponsoring the episode.

For more information on this episode click here.

Show Notes

President’s Working Group on Financial Markets Releases Report on Money Market Funds—U.S. Department of the Treasury

Report of the President’s Working Group on Financial Markets: Overview of Recent Events and Potential Reform Options for Money Market Funds, December 2020—U.S. Department of the Treasury

U.S. Credit Markets Interconnectedness and the Effects of the COVID-19 Economic Shock by S.P. Kothari, Dalia Blass, Alan Cohen, Sumit Rajpal, and SEC Research Staff—U.S. Securities and Exchange Commission

Financial Stability Report November 2020—Board of Governors of the Federal Reserve System

How Vanguard Overhauled a Prime Money Fund by Bernice Napach—ThinkAdvisor

Overnight Index Swap by James Chen—Investopedia

Cash Viewpoint: What do Variable Rate Demand Notes do for Your Money Market Fund—Invesco

Related Episodes

270: Repo Rates Soared—Here’s Why It Matters

291: How To Survive the Coronavirus (COVID-19) Shutdown

305: Are Banks Safe?

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What Is Tail Risk and Are You Taking Too Much Of It? Feb 24, 2021

Show notes

When should you protect against rare, but extreme events? When should you self-insure? Under what circumstance should you sell tail risk protection to others?

Topics covered include:

How tail events differ from tail risk
Why volatility is not the best measure of risk for individuals
What does it cost to protect against large stock market losses
Why younger investors can take more risk due to their human capital
How does the profit wheel options strategy work
How the catastrophic power outage in Texas exemplifies tail risk
Why individuals need to build more reserves because the economic system is too efficient and vulnerable to breakdowns

Thanks to SmartAsset and Babbel for sponsoring the episode. Use code DAVID for Babbel to get three months free.

For more information on this episode click here.

Show Notes

Average Weather in San Antonio Texas, United States—Weather Spark

Update on the CBOE BuyWrite and PutWrite Option Indexes, October 2018—Asset Consulting Group

The Texas Freeze: Why the Power Grid Failed Katherine Blunt and Russell Gold—The Wall Street Journal

His Lights Stayed on During Texas’ Storm. Now He Owes $16,752 by Giulia McDonnell Nieto del Rio, Nicholas Bogel-Burroughs, and Ivan Penn—The New York Times

When More Is Not Better: Overcoming America’s Obsession with Economic Efficiency by Roger L. Martin

Related Episodes

250: Investing Rule One—Avoid Ruin

283: Why You Should Care About Carry Trades

321: How to Analyze Complex Investments

323: The Economy Is Not A Machine

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Why Do We Work So Much? Feb 10, 2021

Show notes

How to structure employment so workers are more creative, productive, and happier.

Topics include:

What percentage of employees work at home due to the pandemic
How many hours per week do men and women work in both paid employment and unpaid caregiving
How workers have been allocating the time saved by not commuting
Why the economy would still prosper if we worked only four hours per day
What is the cult of efficiency
What is the difference between leisure and amusement
Why employers reward busyness at work
How work can be more satisfying and create

Thanks to LinkedIn and Policygenius for sponsoring the episode.

For more information on this episode click here.

Show Notes

60 million fewer commuting hours per day: How Americans use time saved by working from home by Jose Maria Barrero, Nick Bloom and Steven J. Davis

Mental health: C-suite struggles in the pandemic by Rachel Ranosa—Human Resources Director

Deep Work (Rules for Focused Success in a Distracted World) by Cal Newport

In Praise of Idleness by Bertrand Russell—Harper's Magazine

Do Nothing: How to Break Away from Overworking, Overdoing, and Underliving by Celeste Headlee

Aristotle's Nicomachean Ethics by Aristotle translated by Robert C. Bartlett and Susan D. Collins

Rest: Why You Get More Done When You Work Less by Alex Soojung-Kim Pang

The Art of the Siesta by Thierry Paquot

When More Is Not Better: Overcoming America's Obsession with Economic Efficiency by Roger L. Martin

Related Episodes

107: Work, Freedom and Leaving A Legacy

184: Massive Job Losses Are Inevitable But There Will Still Be Work

323: The Economy Is Not A Machine

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Is Silver the Next GameStop? How to Invest in Silver Feb 03, 2021

Show notes

Why has silver jumped to its highest price in eight years. What you need to know to invest in silver.

Topics covered include:

What drove the huge spike in silver purchases
How silver differs from meme stocks
How hedge funds are positioned with regard to silver
What are three ways to invest in silver
What is the annual demand and supply for silver
What are the reasons to own silver
How good has silver been as an inflation hedge
What is the gold-silver ratio and how to use it
What happened when the Hunt brothers tried to corner the silver market
What evidence is there that the silver market is manipulated

Thanks to Mint Mobile for sponsoring the episode.

For more information on this episode click here.

Show Notes

Silver Prices Surge to Eight-Year High Amid Reddit-Fueled Frenzy by Eddie Spence, Jake Lloyd-Smith, and Yvonne Yue Li—Bloomberg

r/wallstreetbets

Silver price retreats rapidly in blow to new retail buyers by Henry Sanderson and Neil Hume

‘What’d You Miss?’ Full Show (02/01/2021)—Bloomberg

Silver Price Chart—BullionVault

Silver Supply and Demand—The Silver Institute

Understanding Futures Expiration & Contract Roll—CME Group

Silver $50: Three Years After the “Shortage” by Miguel Perez-Santalla—BullionVault

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record Deal by Tom Schoenberg and Matt Robinson—Bloomberg

CME Hikes Silver Margins After Prices Surge to Eight-Year High by Yvonne Yue Li

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Meme Stocks, GameStop, Short Squeezes, and Bubbles Jan 27, 2021

Show notes

How coordinated buying by retail investors has turned the table on Wall Street. Are there signs of a market bubble?

Topic covered include:

What are meme stocks
Why GameStop's stock (GME) has soared to over $300 from $17 in less than a month
What are short squeezes and gamma squeezes and how they can push up a stock price
How short-sellers including hedge funds are losing big against individual investors on the wallstreetbets subreddit
Is coordinated buying of options and stocks by individual investors illegal?
How market flows into stocks are taking precedence over fundamental data
Is the stock market in a bubble and how does the current market environment compare to the 1999 Internet bubble and the 2006 housing bubble?

Thanks to Truebill for sponsoring the episode

For more information on this episode click here.

Show Notes

r/wallstreetbets

FOR POSTERITY—Almost Daily Grants 1.25.21

GameStop can’t stop going up by Jamie Powell—Financial Times

Reddit: bull attack by Jamie Powell and Philip Stafford—Financial Times

How WallStreetBets Pushed GameStop Shares to the Moon by Brandon Kochkodin—Bloomberg

Submit Your Pick for the Next Meme Stock Here posted by u/AssPowers 2/18/20—r/wallstreetbets

17 CFR § 240.10b-5 - Employment of manipulative and deceptive devices.—Legal Information Institute

How'd You Guys Manage to Win so Big it Made These Old Guys Drown in Their Tears? posted by u/bawse 1/24/21—r/wallstreetbets

Five Things You Need to Know to Start Your Day by Cormac Mullen and Tracy Alloway—Bloomberg

Tweet by Paul Kedrosky (@pkedrosky) on 1/25/21

Baupost’s Seth Klarman compares investors to ‘frogs in boiling water’ by Ortenca Aliaj and Eric Platt—Financial Times

US stock rally drives ‘ludicrous index’ towards dotcom era heights by Eric Platt—Financial Times

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Are You Underweight Chinese Stocks? Pros and Cons of Investing in China Jan 20, 2021

Show notes

Most global stock ETFs, funds and indices have only about 5% invested in China even though China has the second-largest economy in the world. What are the pros and cons of increasing your allocation to Chinese stocks.

Topics covered include:

Why has China's economy rebounded faster than other countries
What are Chinese A-share stocks
How large are China's economy and stock market
What are four threats that could derail the performance of Chinese stocks
How individuals can invest in China's stock market including A-shares

Thanks to SmartAsset for sponsoring the episode.

For more information on this episode click here.

Show Notes

Chinese shares: should you increase the amount in your portfolio? by Sam Dickens—IG Group

China A-Shares Definition by Troy Segal—Investopedia

China’s Economy Powers Ahead While the Rest of the World Reels by Stella Yifan Xie, Eun-Young Jeong and Mike Cherney—The Wall Street Journal

China Still Grew and Fueled Its Rise as Covid-19 Shook the Global Economy by Jonathan Cheng—The Wall Street Journal

With Americans Stuck at Home, Trade With China Roars Back by Ana Swanson—The New York Times

Buffett Indicator: China Stock Market Valuations and Expected Future Returns—GuruFocus.com

MSCI Deletions Trigger Rush to Sell Chinese Telecom Stocks by Jeanny Yu and Sofia Horta e Costa

Executive Order on Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies—The White House

Non-SDN Communist Chinese Military Companies List as of January 08, 2021—U.S. Department of the Treasury

MSCI ACWI Index (USD) December 31, 2020—MSCI

How China Lost Patience With Jack Ma, Its Loudest Billionaire by Lulu Yilun Chen and Coco Liu—Bloomberg

China Clampdown on Big Tech Puts More Billionaires on Notice by Zheping Huang and Coco Liu—Bloomberg

China’s College Graduates Can’t Find Jobs. The Solution: Grad School. by Vivian Wang

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Is Student Loan Forgiveness A Good Idea? Jan 13, 2021

Show notes

Should the U.S. cancel $10,000 or more of student loan debt per borrower? What would be the economic and financial impact? Why the student loan system is broken and how to fix it.

Topics covered include:

How large and what is the growth rate of U.S. student loan balances
What are the projections for student loan losses
What are the pros and cons of forgiving student loans
What would be the impact on federal finances of canceling student loans
Why the U.S. government is already technically insolvent
How student loan programs should be restructured

Thanks to LinkedIn and Policygenius for sponsoring the episode.

For more information on this episode click here.

Show Notes

Student Loans Owned and Securitized, Outstanding—Federal Reserve Bank of St. Louise

Senate majority gives Biden path to student loan forgiveness by Sylvan Lane—The Hill

Schumer pressures Biden to bypass Congress to cancel $50,000 in student debt per borrower by Annie Nova—CNBC

Biden will call on Congress to forgive $10,000 in student debt for all borrowers by Annie Nova—CNBC

Outreach From Borrowers Could Overwhelm Student Loan System When Pandemic Pauses End by: Sarah Sattelmeyer and Lexi West—PEW

Financial Report of the United States Government FY 2019

Warren makes case to Fed chair for canceling student loan debt by Naomi Jagoda—The Hill

Student Loan Losses Seen Costing U.S. More Than $400 Billion by Josh Mitchell—The Wall Street Journal

Final Monthly Treasury Statement Receipts and Outlays of the United States Government For Fiscal Year 2020 Through September 30, 2020, and Other Periods—U.S. Department of the Treasury

Average Student Loan Debt at Graduation by Mark Kantrowitz—Savingforcollege.com

Profile Of The Labor Force By Educational Attainment by Vernon Brundage, Jr.—U.S. Bureau of Labor Statistics

Millennial life: How young adulthood today compares with prior generations by Kristen Bialkin and Richard Fry—PEW Research Center

Forgiving Student Debt Isn’t a Great Stimulus Plan by Noah Smith—Bloomberg

Average annual salary of bachelor's degree recipients employed full time 1 year after graduation, by field of study: Selected years, 1976 through 2001—National Center for Education Statistics

NACE Salary Survey Winter 2020—National Associations of Colleges and Employers

Australia’s student loan problem is a teachable moment for the U.S. by Jason Delisle and Alex Usher—Brookings

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