Money For the Rest of Us

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**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

Latest Episodes:

How to Avoid Investment Fraud Apr 10, 2019

Show notes

Here are precautions we can take to avoid ponzi schemes and not become victim to investment fraud.

In this episode you’ll learn:

What are sources to determine the background of individuals and firms who are selling investment products and advice.
What is the difference between registered investment advisors, registered investment companies and registered securities.
How to analyze performance and fees to make sure they are acceptable before we invest.
Why we need to be more wary if securities are not registered.

Thanks to LinkedIn and Sleep Number for sponsoring the episode.

For show notes and more information on this episode click here.

[0:17] Personal stories surrounding fraudulent investment schemes.
[2:38] The importance of authentic registration.
[4:28] Who you are working with, and what are they promising?
[6:34] Registered securities and registered investment companies.
[8:41] Disclosing information properly when being compensated.
[12:07] Deciphering performance claims.
[16:37] Understanding what the fees are paying for.
[18:37] Precautions to implement against fraud.

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

More Indexes, ETFs and Manager Skill, but Less Alpha Apr 03, 2019

Show notes

How the increase in indexing is leading to the creation of more stock indexes, most of which are used by active managers. How more indexing makes it more difficult for active managers to outperform even though managers are getting more skilled.

Thanks to TripActions and WIX for sponsoring the episode.

For show notes and more information on this episode click here.

[0:22] Definition of “alpha.”
[0:49] Why there are so many indexes available.
[4:35] The business of indexing.
[7:01] The criteria that index providers use.
[8:04] The cost of change in the index.
[10:27] How some companies create ETFs.
[12:44] Understanding the complexity of indexes and ETFs.
[15:30] The influence of passive management on active management skills.
[20:42] Understanding all the underlying facets of an index.

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

What Central Banks Don’t Know Should Concern You Mar 27, 2019

Show notes

Why an inverted yield curve is disconcerting given such low interest rates. Why those low rates could lead to radical central bank policies during the next recession. Thanks to Policy Genius and Blinkist for sponsoring the episode.

For show notes and more information on this episode click here.

[0:23] Yield curve inversion has generally led to a recession.
[3:00] Stock market behavior during a recession.
[5:19] Why has the yield curve inverted?
[7:04] Understanding who controls and defines the policy rate
[14:42] Why can’t the economy support higher interest rates?
[20:08] Fear of the lower bound.
[22:15] Tools to keep inflation growing.
[25:31] What we should be doing to protect against what the central banks don’t know.

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

Is College Worth It? Mar 20, 2019

Show notes

#245 With more and more college degrees being granted and higher student loan balances, when does it make sense to go to a highly selective college or to college at all? What can increase earnings more than just having college degree? Thanks to TripActions and Shipstation for sponsoring the episode.

For show notes and more information on this episode click here.

[0:17] The price paid by parents for their children’s prestigious degrees.
[3:28] David’s college experience.
[5:14] Does ambition or a selective school earn more?
[7:44] The influence of family background.
[9:32] The importance of college networking.
[10:30] Overcoming discrimination.
[12:12] College degrees as hiring filters.
[15:45] How much student debt should you take on?
[20:28] Student loan forgiveness.
[23:36] Is college worth it?

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

Are You Spending Too Much? (FIRE Edition) Mar 13, 2019

Show notes

#244 How we can use filters to better manage how much we spend and make sure our spending has a meaningful impact on ourselves and the world. Thanks to EveryPlate and LinkedIn for sponsoring the episode.

For show notes and more information on this episode click here.

[0:16] The FIRE movement and how much you need to retire early.
[1:23] What are we supposed to be seeking?
[3:23] How do we define the “bare necessities?”
[8:58] The superfluous things in life are what we spend our money on.
[11:12] Finding joy vs. chasing pleasure.
[13:51] Skills to reduce spending in order to retire early.
[15:41] Establishing filters to lessen our spending.
[18:51] Rethinking materialism.
[21:01] There will always be more.

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

Do You Have Enough to Retire? (FIRE Edition) Mar 06, 2019

Show notes

#243 What are the key metrics to determine if you have reached financial independence and can retire early. How major stock market losses can derail early retirement plans and what to do about it. Thanks to Sleep Number and Blinkist for sponsoring the episode.

For show notes and more information on this episode click here.

[0:19] Interview opportunity with Suze Orman.
[1:15] FIRE: Financially Independent Retire Early.
[2:06] Suze’s response to the FIRE movement.
[3:36] Controversy over the motives driving FIRE.
[6:42] Understanding the math of early retirement.
[12:46] How a market loss would affect your early retirement plan.
[17:26] Would the FIRE community be better prepared for a market crash?
[19:03] Modeling out different paths to help prepare against catastrophe.
[22:28] Utilizing different portfolio drivers.
[23:53] Viewing early retirement success in terms of probability.

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

Should You Let Warren Buffett Manage Your Money? Feb 27, 2019

Show notes

#242. Does it make financial sense to buy Berkshire Hathaway stock and let Warren Buffett and Charlie Munger manage your money? We evaluate Berkshire Hathaway's people, investment process and performance to determine what to do. Thanks to ShipStation and The Great Courses Plus for sponsoring the episode.

For show notes and more information on this episode click here.

[00:19] Berkshire Hathaway as a money manager.
[1:49] Looking at the people to determining who to hire as a money manager.
[3:37] What is the succession plan of the founding partners?
[5:57] Berkshire Hathaway’s process - a two-pronged approach.
[11:49] Understanding the mistakes that Berkshire Hathaway has made.
[16:18] Comparing the performance of Berkshire Hathaway to the SP 500.
[20:29] Taking the red flags into consideration.
[21:51] Warren Buffett’s investment philosophy.

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

Do Budget Deficits Matter? Modern Monetary Theory Explained Feb 20, 2019

Show notes

#241 Why modern monetary theory isn't worried about federal budget deficits, why budget deficits never go away and what are the risks if budget deficits get too large. We also explore what else proponents of modern monetary theory believe.

For show notes and more information on this episode click here.

[0:22] What is Modern Monetary Theory?
[3:20] Taxes create demand for fiat money.
[5:32] Taxes and government bonds don’t finance the federal government.
[8:56] Budget deficits increase the net financial assets of the
private sector.
[13:16] Taxes destroy money.
[13:46] The private sector determines the size of the budget deficit.
[14:58] The concerns of crowding and losing faith.
[19:08] Even government spending has to be constrained.
[20:02] The dangers of the Federal Reserve controlling interest rates.
[21:45] Modern Monetary Theory is correct in terms of how the economy actually works.
[23:25] Do federal budget deficits matter?

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

Three Financial Lessons from Thoreau Feb 13, 2019

Show notes

#240 What Henry David Thoreau can teach us about calculating costs, profits, benefits and living a life free of "quiet desperation." Thanks to Blinkist and LinkedIn for sponsoring the episode.

For show notes and more information on this episode click here.

0:23] Moving into a new house and considering the simplicity of Thoreau.
[2:34] Preserving Ralph Waldo Emerson’s woods.
[5:15] A two-year experiment living in the woods.
[6:32] Calculating cost in terms of our life.
[8:37] Distinguishing profit by the benefits.
[10:59] Living in the present.
[15:24] Using our extra time to pursue the walk.
[19:45] The effects of social media and technology on millennials.
[23:41] The importance of rejuvenating, unstructured time.

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

How to Be a Successful Trader Feb 06, 2019

Show notes

#239 Why successful trading of commodities futures, foreign currencies and options depends on exploiting novice traders. Thanks to Molekule and Sleep Number for sponsoring this episode.

For show notes and more information on this episode click here.

[0:20] Learning how to trade.
[4:52] David takes a look at a trading school for himself.
[9:15] Red flags in the trade school learning process.
[10:32] Common mistakes in managing wealth according to the trade school.
[16:29] Is the solution found in only trading and shunning the stock market?
[19:48] The patented approach to trading success is based upon taking advantage of inexperienced traders.
[25:09] Trading is a zero-sum game.

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

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