Money For the Rest of Us

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: Sponsors NetSuite 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 Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Portfolio Selection by Harry Markowitz—The Journal of Finance, Vol. 7, No. 1. (Mar., 1952), pp. 77-91 Safety First and the Holding of Assets by A. D. Roy—Econometrica, Vol. 20, No. 3 (Jul., 1952), pp. 431-449 The Misbehavior of Markets: A Fractal View of Financial Turbulence by Benoit Mandelbrot and Richard L. Hudson—Hachette Book Group Beyond Markowitz: A Comprehensive Wealth Allocation Framework for Individual Investors by Ashvin B. Chhabra—The Journal of Wealth Managment, Vol. 7, No. 4, pp 8-34, Spring 2005 The Wealth of Households: 2021: Current Population Reports by Briana Sullivan, Donald Hays, and Neil Bennett—Census.gov Average, Median, Top 1%, and all United States Net Worth Percentiles—DQYDJ PROSPECT THEORY AND STOCK MARKET ANOMALIES by Nicholas C. Barberis, Lawrence J. Jin, and Baolian Wang—NBER WORKING PAPER SERIES Related Episodes 82: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity 460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes. 421: Beware of Survivorship Bias When Investing Investing Rule One: Avoid Ruin 229: Stop Maximizing Your Returns Using Modern Portfolio Theory See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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 Notice at https://art19.com/privacy#do-not-sell-my-info.

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: 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 Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Asset Camp FedWatch—CME Group Summary of Economic Projections—US Federal Reserve Investors may be getting the Federal Reserve wrong, again—The Economist Term Premium on a 10 Year Zero Coupon Bond—Federal Reserve Bank of St. Louis Yield to Maturity Is Always Received as Promised by Richard J. Cebula and Bill Z. Yang—Journal of Economics and Finance The Truth about Yield by Jason Bove and Mark Willauer—J.P. Morgan Related Episodes 464: More Ways to Lock in Higher Yields in Case Interest Rates Fall 463: How to Lock in Higher Yields in Case Interest Rates Fall 455: Easier Investing, Richer Life: TIPS Ladders to Annuities 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.

How do home equity investments, income share agreements, and music royalties work, and how can you participate? Topics covered include: Sponsors NetSuite 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 Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Unlock Product Guide—Unlock Point and Atalaya Capital Management Close Oversubscribed $141 Million Home Equity Investment Rated Securitization—Global Newswire What Colleges Should Know About Income Share Agreements and Private Education Loan Requirements by Rich Williams—Homeroom CFPB settles claims against operator of training program arising out of income share agreements by John L. Culhane, Jr. & Thomas Burke—Consumer Finance Monitor Bond market: Bowie Bonds and the Evolution of the Bond Market—Faster Capital Related Episodes 493: The Housing Affordability Crisis: What Caused It and How to Fix It 349: Forward and Reverse Mortgages: When To Take Them Out and When to Pay Them Off 307: Income Share Agreements—Good for Students or Investors? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What caused the 40% price increase in houses and rents, and what are governments doing to try to fix the problem. Topics covered include: Sponsors Delete Me – Use code David20 to get 20% off 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 Concern over housing costs hits record high across rich nations by Valentina Romei and Sam Fleming—The Financial Times Home Price to Median Household Income Ratio (US)—Longtermtrends Home Ownership Affordability Monitor—Federal Reserve Bank of Atlanta AMERICA'S RENTAL HOUSING 2024—Joint Center for Housing Studies of Harvard University America retains “rent burdened” status—Moody's U.S. 2024 and 2025 Mid-Year Outlook Report—AirDNA ARIZONA’S NEW HOUSING LAWS EXPLAINED—Tempe YIMBY What Kalamazoo (Yes, Kalamazoo) Reveals About the Nation’s Housing Crisis by Conor Dougherty—The New York Times How Rent Controls Are Deepening the Dutch Housing Crisis by Cagan Koc and Sarah Jacob—Bloomberg Related Episodes 389: Is Airbnb Intensifying the Housing Crisis? 357: Is a Housing Crash Coming? 238: The U.S. Is More Socialist Than Denmark Regarding Home Mortgages See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Sponsors Shopify - Sign up for a $1 per month trial period NetSuite - Download the CFO’s Guide to AI and Machine Learning 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 Antifragile by Nassim Nicholas Taleb—Penguin Random House The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return by Mihir Desai—Harper Academic Refuse to Choose!: Use All of Your Interests, Passions, and Hobbies to Create the Life and Career of Your Dreams—Penguin Random House An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager—Penguin Random House Related Episodes 482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity 268: How To Better Manage Risk See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Episode Sponsors Monarch Money – Get an extended 30-day free trial LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Show Notes Asset Camp The Role of Emotions in Financial Decisions by David Tuckett—ResearchGate Morningstar Active Passive Barometer Related Episodes 486: How Retail Traders Lose Big While Enriching Wall Street 431: The Long-term Bullish Case for Gold 306: Three Approaches to Asset Allocation See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs NetSuite Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Understanding Private Fund Performance by Kaitlin Hendrix and Mamdouh Medhat—SSRN What Drives Private-Equity Performance Persistence? New Deal-Level Evidence by Axel Buchner and Susanne Espenlaub and Abdul Mohamed—SSRN Unlocking the Power of Relationships: Limited Partner Networks and Performance in Private Equity by José Carlos Franco de Abreu Neto and Saito Richard—SSRN Private equity dry powder growth accelerated in H1 2024 by Dylan Thomas and Annie Sabater—S&P Global Private Equity Gets Creative to Buy Time for More Gains. Clients Say Pay Me Now by Allison McNeely and Dawn Lim—Bloomberg Related Episodes 458: Dissecting Stock Returns: Financial Engineering or Genuine Growth? 440: Beware of Platform Risk 350: How to Invest in Startups on Equity Crowdfunding Platforms? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Sponsors Delete Me – Use code David20 to get 20% off 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 Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke Thinking Fast and Slow by Daniel Kahneman The Tao of Pooh by Benjamin Hoff Trying Not to Try: Ancient China, Modern Science, and the Power of Spontaneity by Edward Slingerland See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Sponsors NetSuite 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 Transcript of Chair Powell’s FOMC Press Conference July 31, 2024—The Federal Reserve Goolsbee Says Fed Won’t Overreact to One Month’s Data by Catarina Saraiva and Ananya Chag—Bloomberg Congressional Budget Office Updates Baseline: Deficit Spending is 27 Percent Higher Than Previously Estimated—U.S. House Budget Committee Investments Mentioned Vanguard Growth ETF (VUG) Vanguard Small Cap Value (VBR) iShares International Developed Small Cap Value Factor ETF (ISVL) Invesco BulletShares 2031 Corporate Bond ETF (BSCV) iShares Large Cap Max Buffer ETF (MAXJ) BlackRock AAA CLO ETF (CLOA) Related Episodes 485: Should You Invest in Defined Outcome (Buffer) ETFs? 476: Is Small Cap Dead? Why You Shouldn’t Abandon Small Company Stocks 472: Is the Economy as Bad as People Think? 464: More Ways to Lock in Higher Yields in Case Interest Rates Fall 463: How to Lock in Higher Yields in Case Interest Rates Fall 423: A “Safe” 6% Yield: The Case for Investment Grade CLOs 302: Investing is Not Knowing See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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: Sponsors Shopify NetSuite Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Spot Ethereum ETFs begin trading today: Here's what you need to know by Jason Shubnell—The Block The spot Ethereum ETFs' first week by the numbers by James Hunt—The Block The Idols NFT—theidols.io Read Write Own by Chris Dixon—readwriteown.com Ethereum is the Only Institution-Friendly Smart Contract Chain by Qiao Wang—Medium EthereumETH Staking—Coinbase 5 Ways to Stake Your Crypto Assets—Staking Rewards Ethereum's Dencun Upgrade: Unleashing Scalability and Efficiency—bitpay Solana vs. Ethereum: Which Is Better in 2024? —KuCoin Related Episodes 462: Now Should You Buy a Bitcoin ETF? 373: Are Stablecoins Safe? Should You Own Them? 368: How to Invest in Web3, DAOs, and the Metaverse 339: How To Make Money with BlockFi, Dai, and the Evolving DeFi Ecosystem 335: Are Non-Fungible Tokens (NFTs) Good Investments? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What we can monitor and do now in preparation for a 2030s depression, which may or may not arrive. Topics covered include: Sponsors Delete Me – Use code David20 to get 20% off Monarch Money – Get an extended 30-day free trial Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Top 5 Causes of the 2030s Great Depression—ITR Economics The Demographic Outlook: 2024 to 2054—Congressional Budget Office Testimony on Social Security’s Finances—Congressional Budget Office World Population Prospects 2024—The United Nations World Population Prospects 2024: Graphs/Profiles—The United Nations America is uniquely ill-suited to handle a falling population—The Economist Suddenly There Aren’t Enough Babies. The Whole World Is Alarmed. by Greg Ip and Janet Adamy—The Wall Street Journal Related Episodes 479: National Debt Master Class Finale – What To Do 468: Lessons from Japan’s 34 Years of Stock Market Underperformance 395: How Population Trends Will Impact Growth, Inflation, Investing and Well Being See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gambling in the stock market is increasing, with most traders losing money while generating billions of dollars per year for brokerages and wholesalers. Will all this trading lead to big market swoons? Topics covered include: Sponsors NetSuite 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 How Stocks Became the Game That Record Numbers of Americans Are Playing by Claire Ballentine—Bloomberg MURPHY, GOVERNOR OF NEW JERSEY, ET AL. v. NATIONAL COLLEGIATE ATHLETIC ASSN. ET AL. SYLLABUS—The Supreme Court of The United States America's Sports Betting Boom by Felix Richter—Statista Searching for Gambles: Gambling Sentiment and Stock Market Outcomes by Yao Chen, Alok Kumar, Chendi Zhang—SSRN Stocks as Lotteries: the Implications of Probability Weighting for Security Prices by Nicholas Barberis and Ming Huang—SSRN Day Trading for a Living? by Fernando Chague, Rodrigo De-Losso, Bruno Giovannetti—SSRN Computer based trading system and methodology utilizing supply and demand analysis—Google Patents Retail Trading in Options and the Rise of the Big Three Wholesalers—Svetlana Bryzgalova, Anna Pavlova, Taisiya Sikorskaya—SSRN Amateurs Pile Into 24-Hour Options: ‘It’s Just Gambling’ by Gunjan Banerji—The Wall Street Journal Retail Traders Love 0DTE Options... But Should They? by Heiner Beckmeyer, Nicole Branger, Leander Gayda—SSRN Related Episodes 482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity 239: How to Be a Successful Trader See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Buffer ETFs protect against the downside while capping the upside. We examine them closely to see if they are worth it. Topics covered include: Sponsors Shopify NetSuite 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 BlackRock Enters Booming Market for Stock ETFs With a 100% Hedge by Emily Graffeo—Bloomberg New Stock ETF Offers 100% Hedge as Buffer Funds Nab $46 Billion by Emily Graffeo—Bloomberg The Dynamics of Defined Outcome Exchange Traded Funds by Luis García-Feijóo and Brian Silverstein—SSRN Monetizing Loss Aversion for Fun and Profit—Paul Kedrosky Thirty Years of Prospect Theory in Economics: A Review and Assessment by Nicholas C. Barberis—Journal of Economic Perspectives Prospect Theory: An Analysis of Decision Under Risk by Daniel Kahneman and Amos Tversk—ECONOMETRICA Investments Mentioned Innovator U.S. Equity Ultra Buffer ETF - January Series (UJAN) Innovator U.S. Equity Ultra Buffer ETF - June Series (UJUN) iShares Large Cap Max Buffer Jun ETF (MAXJ) Innovator U.S. Equity Accelerated 9 Buffer ETF (XBJL) SPDR S&P 500 ETF Trust (SPY) Related Episodes 465: Transforming Financial Regrets into Portfolio Gains: Five Strategies for Navigating Investment Emotions 460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes. 451: How Much Should You Invest in Stocks? The Art of Position Sizing in a Volatile Market 394: How to Get Better at Risk Taking 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.

Seven ways to increase the odds of living long into your retirement years (if you choose to retire). Sponsors Monarch Money – Get an extended 30-day free trial Lifetime Money for the Rest of Us Plus membership Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Podcast Stats: How many podcasts are there?—Listen Notes Quality Over Quantity Is A Growth Strategy by Steven Goldstein—Amplifi Media Slow Productivity by Cal Newport—Penguin Random House Why our brains crave beauty, art and nature by Jemima Kelly—The Financial Times Why southern Europeans will soon be the longest-lived people in the world—The Economist What I’ve learnt from two decades eating in Paris by Simon Kuper—The Financial Times Getting Good Sleep Could Add Years to Your Life—American College of Cardiology Close friends can help you live longer but they can spread some bad habits too by Maggie Mertens—NPR United we thrive: friendship and subsequent physical, behavioural and psychosocial health in older adults (an outcome-wide longitudinal approach) by E. S. Kim, W. J. Chopik, Y. Chen, R. Wilkinson and T. J. VanderWeele—Cambridge University Press Why I’ve hung up my wellies and given up the country cottage by Tom Hodgkinson—The Financial Times An Emersonian Guide to Taking Control of Your Life by Arthur C. Brooks—The Atlantic Why you should never retire—The Economist It’s not so ‘terribly strange to be 70’ by Anne Lamott—The Washington Post See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Millions of fintech app users have lost access to their cash. In this episode, we explain why this happened and show you how to protect yourself when placing cash with traditional banks, neobanks, and fintech platforms. Topics covered include: Sponsors NetSuite Delete Me – Use code David20 to get 20% off Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes CHAPTER 11 TRUSTEE’S INITIAL STATUS REPORT BY UNITED STATES BANKRUPTCY COURT CENTRAL DISTRICT OF CALIFORNIA SAN FERNANDO VALLEY DIVISION—CourtListener Fintech platform Synapse raises $33M to build ‘the AWS of banking’ by TechCrunch—Synapse X Post by Jason Mikula—X "Full Reconciliation... May Not Be Possible," Synapse Trustee Says by Jason Mikula—Fintech Business Weekly Mercury Seeking $30M From Synapse, Emergency Court Filing Reveals by Jason Mikula—Fintech Business Weekly Infighting among fintech players has caused TabaPay to ‘pull out’ from buying bankrupt Synapse by Mary Ann Azevedo—TechCrunch Fintech startup Copper forced to discontinue banking services amid Synapse fiasco by Taylor Soper—GeekWire a16z-backed Tellus wants to offer consumers a much better savings rate. Here’s how. by Mary Ann Azevedo—TechCrunch FDIC Demands Three Companies Cease Making False or Misleading Representations about Deposit Insurance—FDIC Related Episodes 440: Beware of Platform Risk 424: Are More Bank Runs Coming? The Collapse of Silicon Valley Bank 412: Where to Invest Your Cash Savings for Higher Yields 304: A 15% Guaranteed Return? Lending on the Fringes of Finance See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How a few high-impact successes drive up overall average outcomes in investing, business, and creative projects. How to harness positive skewness using a barbell approach. Learn when to mitigate risks and when to embrace them. Topics covered include: Sponsors LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs Betterment - the automated investing and savings app Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks by Hendrik Bessembinder, Te-Feng Chen, Goeun Choi, K.C. John Wei—SSRN Long-Horizon Stock Returns Are Positively Skewed by Adam Farago and Erik Hjalmarsson—SSRN Wealth Creation in the U.S. Public Stock Markets 1926 to 2019 by Hendrik Bessembinder—SSRN The Coffee Can portfolio by Robert G. Kirby—csinvesting Active vs Passive Investing U.S. Barometer Report—Morningstar Table 7. Survival of private sector establishments by opening year—U.S. Bureau of Labor Statistics How Many Podcasts Are There? (New 2024 Data) by Josh Howarth—Exploding Topics See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why are homeowners seeing home insurance premiums increases of up to 70%, as David has? What can you do if your insurer drops you, you get a huge premium increase, or you can no longer afford coverage? Topics covered include: Sponsors Delete Me – Use code David20 to get 20% off NetSuite 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 Home Insurance Is Clobbering Consumers. Yet It’s Barely Counted in Inflation. by Jeanna Smialek—The New York Times NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts: Chapter 5: Personal Consumption Expenditures—Bureau of Economic Analysis The crippling home insurance crisis hitting America by Rana Forhoohar—The Financial Times The Hidden Driver of Soaring Home Insurance Costs by Jean Eaglesham—The Wall Street Journal When Disaster Strikes: Preparing for Climate Change by Seán Nolan and Krishna Srinivasan—IMF Blog Home insurance was once a ‘must.’ Now more homeowners are going without. by Patrick Cooley—The Washington Post Homeowners Perception of Weather Risks 2023 Q2 Consumer Survey—Insurance Information Institute Insurance Companies Feeling the Pressure in Iowa and the Midwest by Jerry Theodorou—Insurance Journal See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why stock, ETF, and bond trades are optimized to settle in less than a day, allowing investors quicker access to their cash and securities. What are the benefits and costs of optimization in the relentless drive for cheaper, faster, and more profitable. Sponsors Yahoo Finance Monarch Money – Get an extended 30-day free trial Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes About the ‘T+1’ Rule Making US Stocks Settle in a Day by Lydia Beyoud and Greg Ritchie—Bloomberg SEC Chair Gensler Statement on Upcoming Implementation of T+1 Settlement Cycle—SEC What faster trading cycles will mean for US markets by Jennifer Hughes and Harriet Clarfelt—The Financial Times Speedier Wall Street Trades Are Putting Global Finance On Edge by Greg Ritchie—Bloomberg BlackRock closes in on crown of world’s largest bitcoin fund by Will Schmitt and Brooke Masters—The Financial Times Optimal Illusions: The False Promise of Optimization by Coco Krumme Financial Statement Analysis with Large Language Models by Alex G. Kim, Maximilian Muhn, and Valeri V. Nikolaev—The University of Chicago Related Episodes 457: AI’s Fork in the Road: Societal Bliss or Existential Threat 329: Meme Stocks, GameStop, Short Squeezes, and Bubbles 228: How Tokenization Will Radically Change Investing See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In part three of our national debt masterclass, we share a simple debt dynamics formula we can monitor to help guide our investment choices. Topics covered include: Sponsors NetSuite Yahoo Finance Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Jerome Powell: Full 2024 60 Minutes interview transcript—CBS News Yellen says she disagrees with Moody's outlook on US debt by Ann Saphir and David Lawder—Reuters IMF Steps Up Its Warning to US Over Spending and Ballooning Debt by Christopher Condon—Bloomberg WHEN DOES FEDERAL DEBT REACH UNSUSTAINABLE LEVELS?—Penn Wharton The Long-Term Budget Outlook: 2024 to 2054—Congressional Budget Office PUBLIC DEBT AND LOW INTEREST RATES by Olivier J. Blanchard—NBER Bond vigilantes snooze as Treasury market shrugs off vast US borrowing by Kate Duguid—The Financial Times Term Premium on a 10 Year Zero Coupon Bond—FRED Instantaneous Forward Term Premium 10 Years Hence—FRED See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.