Bogleheads On Investing Podcast

Jeff Ptak, CFA, is the managing director for Morningstar Research Services. Prior to that, he held positions as the chief ratings officer, head of global manager research, and president and chief investment officer of Morningstar Investment Services. In this episode, we discuss major new trends affecting the mutual fund and exchange-traded fund (ETF) industries, with a special focus on the exponential growth of actively managed ETFs.   Rick Ferri, CFA, a long-time Boglehead and investment adviser, hosts the Bogleheads on Investing podcast. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads have held national conferences in major cities nationwide. Many local Chapters in the US and even a few foreign chapters meet regularly, and New Chapters are added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Mike Piper is a CPA, author, and adviser. He has written several concise books dealing with various financial topics, including taxes, Social Security, estate planning, and other financial planning. His latest book, After the Death of a Spouse, Next Financial Steps for Surviving Spouses, is the topic of this podcast.    Mike also created the Oblivious Investor blog and the Open Social Security calculator, which offers free advice and information. He has been quoted in all major financial publications, from The Wall Street Journal to AARP to Morningstar.    Rick Ferri, CFA, a long-time Boglehead and investment adviser, hosts the Bogleheads on Investing podcast. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads have held national conferences in major cities nationwide. Many local Chapters in the US and even a few foreign chapters meet regularly, and New Chapters are added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

My guest on Episode 78 is Carola Binder, an associate professor of economics at the University of Texas at Austin and a fellow at the Hutchins Center on Fiscal and Monetary Policy. She is also a research associate of the National Bureau of Economics Research in the Monetary Economics group. Carola holds a Ph.D. from the University of California, Berkeley.    Carola's work focuses on inflation, inflation expectations, monetary policy, and economic history. She is the author of Shock Values: Prices and Inflation in American Democracy, a book on the history of inflation and price stabilization in the United States. She has also published research in several economic journals and is an associate editor for the Review of Economics and Statistics and the Journal of Money, Credit, and Banking.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Aswath Damodaran is a Professor of Finance at the Stern School of Business at New York University,  where he teaches corporate finance and equity valuation. He is known in the investment industry and academia as the Dean of Equity Valuation. Aswath is the author of several widely used academic and practitioner texts on valuation, corporate finance, and investment management, and he maintains a comprehensive database for valuation purposes that can be found on his website.   During this podcast, we will discuss his teaching career, investment philosophy, the equity risk premium in the US and international stocks, index funds, factor investing, and how artificial intelligence is changing the field of finance and changing us.     The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Meir Statman is the Glenn Klimek Professor of Finance at Santa Clara. His research focuses on behavioral finance as he attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets.    Professor Statman's research has been published in numerous academic and professional journals and has won many awards. His first book, “What Investors Really Want,” was published in 2011. His latest book, “A Wealth of Well-Being: A Holistic Approach to Behavioral Finance,” is the topic of our discussion in this podcast.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Jason Zweig is a well-known personal finance journalist, author, and a long-time friend of the Bogleheads.   Jason became a columnist for The Wall Street Journal in 2008, and before that, he was a senior writer for Money magazine and a guest columnist for Time magazine and Cnn.com. From 1987 to 1995, Jason was the mutual funds editor at Forbes. Earlier, he had been a reporter-researcher for the Economy & Business section of Time and an editorial assistant at Africa Report, a bimonthly journal.   Jason is the author of several books, Your Money and Your Brain, The Devil's Financial Dictionary, The Little Book of Safe Money, and the editor of two revised editions of Benjamin Graham's classic text The Intelligent Investor, which is discussed in this podcast.     The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Josh Brown is a well-known author, columnist, creator of the widely read blog The Reformed Broker, a commentator on CNBC, and CEO of Ritholtz Wealth Management, an independent investment advisory firm he founded with Barry Ritholtz. In the 1990s and early 2000s, Josh worked for 10 years as a broker at various investment firms, where he learned the hard truths about how clients are routinely treated—and how their money is sent on a one-way trip to Wall Street's coffers.   A prolific writer, Josh co-authored two books, How I Invest Money and The Clash of the Financial Pundits, and authored two books, Backstage Wall Street, and just released You Weren't Supposed to See That, which we discuss in this podcast. Josh stopped blogging as The Reformed Broker in 2023 and now publishes the DowntownJoshBrown.com blog.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Christine Benz is the director of personal finance and retirement planning at Morningstar and senior columnist for Morningstar.com. She also co-hosts a podcast for Morningstar, The Long View. Christine is widely quoted in the media and the recipient of several awards, including being named by Barron's as one of the ten most influential women in wealth management in 2021. She is the author of three books. Her latest, and the focus of this podcast, is How to Retire, 20 Lessons for a Happy, Successful, and Wealthy Retirement.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

David Baughier switched seats with host Rick Ferri and interviewed him about many personal finance topics. David is a retired Naval Officer with a passion for helping people pursue and achieve financial independence. He is the founder of www.fiology.com, a free resource that escorts you through 52 concepts of financial independence over the course of one year.   This podcast highlights the first 50 minutes of David's The Forget About Money YouTube video, which we recorded in May 2024. We discussed a diverse set of topics, from John Bogle to asset allocation to the biases in most investment advice. The podcast is David's latest passion project, and it encourages you to take action today so that you can focus on what matters most to you.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads have held national conferences in major cities nationwide. There are also many local chapters in the US and even a few foreign chapters that meet regularly, and New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Matt Hougan is the Chief Investment Officer of Bitwise Asset Management, the world's largest provider of cryptocurrency index funds with more than $4 billion in assets under management. Before joining Bitwise, Matt held several notable positions in the financial industry, including CEO at Inside ETFs, Managing Director of Global Finance at Informa, and CEO of ETF.com. Matt also co-authored The CFA Institute's publication on ETFs, "A Comprehensive Guide to Exchange-Traded Funds."   Matt is a long-time Boglehead who attended the Bogleheads Conference in years past. I asked him to join me for a no-spin discussion about cyber-currencies. We cover the history of blockchain technology, why cryptology is important to the blockchain, and how this led to Bitcoin, the world's first digital currency, and eventually other digital currencies, including the digital dollar. The discussion is structured as purely educational. There is no sales hype, no recommendations for purchase or sale, and no price speculation.    The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Dr. Wes Gray is the CEO of Alpha Architect. Our topic of discussion for this podcast is exchange-traded funds (ETFs) and their unique tax benefits. Wes is an author, portfolio manager, United States Marine, Iraq War vet, and former professor of finance at Drexel University. He earned an MBA and a Ph.D. in finance from the University of Chicago, where he studied under Nobel Prize Winner Eugene Fama.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Larry Swedroe is the head of financial and economic research for Buckingham Wealth Partners. A prolific writer who is the author or co-author of 18 books.  His first book, The Only Guide to a Winning Investment Strategy You'll Ever Need, is in its second edition. Larry's latest book, Erich Your Future, The Keys to Successful Investing, is the topic of our discussion in this podcast.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

More than 50 percent of mutual fund and ETF assets track passive indices, which makes index methodology important. Episode 68 is all about index history and evolution and how the usage of indexes as investment products changed the industry.    Rolf Agather has been in the indexing industry since the 1980s. He started Russell, moved around the industry a bit, then went back to Russell Investments and in 2002 became the Managing Director, Research and Innovation, Russell Indexes. He remained there after a merger with FTSE and became the FTSE Russell Managing Director, Research, North America. Rolf moved to Morningstar in 2020 as Morningstar's Head of Research and Product, Indexes.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

If you hate paying taxes, then you should love learning about taxes because that's the way to reduce them. My guest, Kaye Thomas, received his law degree from Harvard Law School in 1980 and then began his career as a tax attorney, dealing with complex tax matters related to business transactions, finance, and compensation.   Kaye now spends his time as a writer, publisher, public speaker, and consultant on topics relating to taxation and investments. He has written several books, including Capital Gains…Minimum Taxes, Go Roth! A guide to the Roth IRA and other Roth accounts, and Consider Your Options, a plain language guide to company stock and stock option compensation plans. His website, Fairmark.com, provides free plain-language guidance on the taxation of investments, taxes in retirement, kids and taxes, taxes on stock-based compensation, and much more.   The Bogleheads on Investing podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

My two guests are James Dahle, MD, a practicing emergency physician, founder of The White Coat Investor, and the creator of the "No Hype Real Estate Investing" course, and John Worth, Ph.D., Executive Vice President of Research and Investor Outreach at Nareit. Our topic in the episode is real estate investing. We cover the spectrum of real estate investment opportunities, from flipping homes to listed real estate investment trusts (REITs).   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Qian Wang, Ph.D., is Vanguard's Asia-Pacific chief economist and global head of the Vanguard Capital Markets Model team in the Investment Strategy Group. She is also a member of Vanguard's Strategic Asset Allocation Committee and its Time-Varying Asset Allocation Subcommittee, which oversees and determines the asset allocation strategies of global multi-asset-class portfolios such as the Vanguard Target Retirement Funds. This podcast discusses the Vanguard economic and market outlook for 2024: A return to sound money.   Qian earned a Ph.D. in business administration from Stanford University, an M.A. in economics from Duke University, and a B.A. in international economics from Beijing University. Before joining Vanguard in 2014, Qian was director of research at a sovereign wealth fund based in Asia and the chief China economist and head of greater China macro research at J.P. Morgan.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Victor Haghani and James White are co-authors of "The Missing Billionaires, A Guide to Better Financial Decisions." Victor is also the founder and CIO of Elm Wealth and David is the CEO, where they implement these concepts for their clients. This fascinating book discusses investment decision-making and risk-sizing and how to make better financial decisions with your wealth.   Markets have behaved very well for 100 years, resulting in real profits for investors. However, few rich families from the early 1900s have been able to retain their wealth despite exceptional returns in the markets. The problem isn't that people make poor decisions about what to invest in, they make poor “risk decisions” about how much risk to take and when to take it.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities nationwide. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added regularly. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Dr. William (Bill) Bernstein is a retired neurologist, author, investment adviser, and financial historian. His research is in the field of modern portfolio theory and economic history. Bill has published extensively on investing and economic history, including eight books and numerous articles. He holds a Ph.D. and an M.D. Bill is a repeat guest, first appearing in Episode 13. In this episode, we discuss Treasury Inflation Protected Securities (TIPS), asset allocation in today's uncertain world, four deep risks, and the cost of income inequality.     This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Steven Chen is the founder of NewRetirement, a do-it-yourself tool for retirement planning. Prior to founding NewRetirement, Stephen founded venture-backed companies in education and financial services, and worked with organizations including Charles Schwab, Dimensional Fund Advisors, and Fidelity.  This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.  Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.   This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes 2023 Conference - The John C. Bogle Center for Financial Literacy Bogleheads® Live 41: Derek Tharp on Retirement Planning – 4% Rule vs. Monte Carlo Bogleheads on Investing with John Bogle – Episode 1 Bogleheads on Investing with William F. Sharpe: Episode 59 Bogleheads® investment philosophy Bogleheads® Live with Christine Benz: Episode 37 Bogleheads® Live with Christine Benz: Episode 5 Bogleheads on Investing with Cody Garrett: Episode 61 Bogleheads on Investing 58: Mike Piper on “More than Enough” Bogleheads® Live: Cameron Huddleston: talking to your parents about their finances Bogleheads® Live with Mike Piper: Episode 36 Bogleheads® Live with Steve Ryder: Episode 43 Bogleheads® 2022 Conference – Mike Piper- Social Security, Tax Planning Before and During Retirement Bogleheads® Live with Cameron Huddleston: Episode 34 Bogleheads on Investing with Mike Piper: Episode 58 Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated.

Cody Garrett is an advice-only financial planner passionate about helping families refine their path to financial independence (FI) as DIY investors. Cody specializes in comprehensive financial plan development, topic research, and personalized financial education.  This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.  Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.   This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes 2023 Conference - The John C. Bogle Center for Financial Literacy Bogleheads Forum: U.S. Chapters Bogleheads® Live with Bill Bengen: Episode 35 Bogleheads® Live with Christine Benz: Episode 37 Bogleheads® Live 41: Derek Tharp on Retirement Planning – 4% Rule vs. Monte Carlo John C. Bogle Center for Financial Literacy Bogleheads® Chapter Series – Health care planning for retirement Bogleheads® 2022 Conference – Mike Piper- Social Security, Tax Planning Before and During Retirement Bogleheads® Live with Colleen Jaconetti : Episode 26 Bogleheads® investment philosophy ssa.tools Bogleheads® Live with Mike Piper: Episode 23 Open Social Security Mortgage Flexibility Calculator Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated.

Jonathan Clements is the founder and editor of HumbleDollar. He's also the author of a fistful of personal finance books, including My Money Journey and How to Think About Money, and he sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors. Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist. Between October 1994 and April 2008, he wrote 1,009 columns for the Journal and for The Wall Street Journal Sunday. He then worked for six years at Citigroup, where he was Director of Financial Education for Citi Personal Wealth Management, before returning to the Journal for an additional 15-month stint as a columnist. An avid bicyclist, Jonathan was born in London, England, and graduated from Cambridge University. He worked for Euromoney magazine in London before moving to the New York area in 1986. He now lives in Philadelphia, close to his daughter, son-in-law and grandson. Prior to joining the Journal in January 1990, he covered mutual funds for Forbes magazine. Jonathan has written a novel and nine personal finance books, and also contributed to six others. This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.  Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.   This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes Bogleheads on Investing with William F. Sharpe: Episode 59 Bogleheads® Live with Mike Piper: Episode 36 How I Invest 2022 by Meb Faber Should Equity Exposure Decrease In Retirement, Or Is A Rising Equity Glidepath Actually Better? Bogleheads® Live with Bill Bengen: Episode 35 Bogleheads® Live with Christine Benz: Episode 37 2023 Conference - The John C. Bogle Center for Financial Literacy John C. Bogle Center for Financial Literacy Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated. Jonathan Clements is the founder and editor of HumbleDollar. He's also the author of a fistful of personal finance books, including My Money Journey and How to Think About Money, and he sits on the advisory board of Creative Planning, one of the country's largest independent financial advisors. Jonathan spent almost 20 years at The Wall Street Journal, where he was the newspaper's personal finance columnist. Between October 1994 and April 2008, he wrote 1,009 columns for the Journal and for The Wall Street Journal Sunday. He then worked for six years at Citigroup, where he was Director of Financial Education for Citi Personal Wealth Management, before returning to the Journal for an additional 15-month stint as a columnist. An avid bicyclist, Jonathan was born in London, England, and graduated from Cambridge University. He worked for Euromoney magazine in London before moving to the New York area in 1986. He now lives in Philadelphia, close to his daughter, son-in-law and grandson. Prior to joining the Journal in January 1990, he covered mutual funds for Forbes magazine. Jonathan has written a novel and nine personal finance books, and also contributed to six others. This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.  Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.   This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes Bogleheads on Investing with William F. Sharpe: Episode 59 2023 Conference - The John C. Bogle Center for Financial Literacy John C. Bogle Center for Financial Literacy Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated. 

William F. Sharpe is the STANCO 25 Professor of Finance, Emeritus at Stanford University's Graduate School of Business. He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, and has published articles in a number of professional journals. In 1990, he received the Nobel Prize in Economic Sciences. This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes Exploring the Retirement Consumption Puzzle (Retiree Spending Smile) Bogleheads® Live with David Blanchett: Episode 14 The Arithmetic of Active Management Bogleheads® Live: Episode 1 - Investing Internationally (clip) Submit questions for Jonathan Clements 2023 Conference - The John C. Bogle Center for Financial Literacy John C. Bogle Center for Financial Literacy Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated. 

Mike is the author of the popular blog “Oblivious Investor” at ObliviousInvestor.com and the creator of the free Open Social Security calculator at OpenSocialSecurity.com. He is also the author of several books on taxes, investing, and Social Security, and now a new book, More than Enough: A Brief Guide to the Questions That Arise After Realizing You Have More Than You Need.   This episode of the podcast is hosted by Jon Luskin, CFP®, a long-time Boglehead and financial planner. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated. Show Notes After the Death of Your Spouse: Next Financial Steps for Surviving Spouses George Kinder's Books on Life Planning 5 Best Retirement Planners and Apps Bogleheads® Live with Derek Tharp: Episode 41 Bogleheads® Live with Christine Benz: Episode 37 Bogleheads® Live with Mike Piper: Episode 36 Bogleheads® Live with Bill Bengen: Episode 35 Bogleheads® Live with Cameron Huddleston: Episode 34 Bogleheads® Live with Mike Piper: Episode 23 Bogleheads® Live with Mike Piper: Episode 9 2023 Conference - The John C. Bogle Center for Financial Literacy John C. Bogle Center for Financial Literacy Bogleheads® Forum Bogleheads® Wiki Bogleheads® Reddit Bogleheads® Facebook Bogleheads® LinkedIn Bogleheads® Twitter Bogleheads® on Investing podcast Bogleheads® YouTube  Bogleheads® Local Chapters Bogleheads® Virtual Online Chapters Bogleheads® on Investing Podcast Bogleheads® Conferences Bogleheads® Books The John C. Bogle Center for Financial Literacy is a 501(c)3 nonprofit organization. At Boglecenter.net, your tax-deductible donations are greatly appreciated.   

Dr. Derek Horstmeyer is a Professor of Finance at George Mason University's School of Business where he publishes regularly on investment topics, ETF & mutual fund performance, and corporate finance. He writes a monthly column for the Wall Street Journal along with his students and writes frequently for the CFA Institute. he has also been published in the Quarterly Journal of Finance, Managerial Finance, and several other mainstream business publications.   Dr. Horstmeyer is very active at GMU outside the classroom. He co-founded and currently leads the first student-managed investment fund and currently serves as director of the new Financial Planning & Wealth Management degree at Mason.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations and individuals understand the intersection of mind and markets. Educated at Brigham Young and Emory Universities, Dr. Crosby is an international speaker and author who has won many awards for his work.   His first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into Japanese, Chinese, Vietnamese and German. His latest work, The Behavioral Investor, is an in-depth look at how sociology, psychology and neurology all impact investment decision-making.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Edward Chancellor is a financial historian, journalist, and investment strategist.  Ed graduated with first-class honors from Trinity College, Cambridge, and later from Oxford University. He worked for the London merchant bank, Lazard Brothers, and was later an editor at the financial commentary site, Breakingviews of Reuters. Ed was also a senior member of the asset allocation team at GMO, the Boston-based investment firm.   In 2022, Fortune called Ed "one of the greatest financial historians alive". He is noted for his prescient warnings of the last three major economic bubbles in his published works: Devil Take the Hindmost: A History of Financial Speculation (1999), Crunch-Time for Credit? (2005) and The Price of Time: The Real Story of Interest (2022).    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Christine Benz, CFP®, is Morningstar's Director of Personal Finance and the co-host of The Long View Podcast. We discuss 2022 taxes and how SECURE Act 2.0 will affect 2023 taxes and beyond. We also dive into a safe withdrawal rate during retirement and discuss how changing market valuations, inflation expectations, and the "spending smile" during retirement affects the amount you can reasonably withdraw.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Join me for this delightful discussion with James L Collins. JL is a popular personal finance blogger, a leader in the FIRE movement (Financial Independence -Retire Early), and the author of The Simple Path to Wealth. The book has sold over 500,000 copies and is published in multiple languages. His second book, How I Lost Money in Real Estate Before it was Fashionable, highlights his experience as a landlord and provides a cautionary tale for people considering direct rental property as an investment. JL's upcoming book, Pathfinders, will feature success stories from 100 followers around the world.     This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Proper estate planning is one of the most important elements of a complete financial plan and often the most overlooked. Roughly half of my new clients either have no estate plan or an incomplete plan or an outdated plan. My two guests to discuss the issues are Ryan Barrett, a member of both the State Bar of California and Utah State Bar, and Mike Piper, CPA.   Ryan is an estate planning attorney who began his legal career in southern California ten years ago after obtaining a Juris Doctor as well as a Master of Business Administration from a concurrent program at Pepperdine Law and Pepperdine Graziadio Business School. Mike is the author of the popular blog “Oblivious Investor” at ObliviousInvestor.com and the creator of the free Open Social Security calculator at OpenSocialSecurity.com. He is also the author of several books on taxes, investing, and Social Security, and now a new book, After the Death of Your Spouse: Next Financial Steps for Surviving Spouses.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

This episode is focused on international stock market index funds and ETFs. My two guests are Christine Franquin, a principal and senior portfolio manager in the Vanguard Equity Index Group, and Michael Perre, also a principal in the Vanguard Equity Index Group.   Christine manages several equity and balanced funds, including funds for U.S. and international investors as well as indexed separate accounts, and Michael oversees the portfolio management of Vanguard's internally managed equity index funds. He is involved with the daily trading and portfolio management of those funds.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Craig Lazzara, CFA, is a Managing Director in the Core Product Management group at S&P Dow Jones Indices (S&P DJI). His responsibilities focus on providing thought leadership and educational outreach. Our discussion focuses on two S&P DJI reports. SPIVA research measures actively managed funds against their relevant index benchmarks worldwide, and the Persistence Scorecard focuses on whether manager outperformance should be attributed to luck or skill. Craig holds a Chartered Financial Analyst charter and is a graduate of Princeton University and Harvard Business School.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free forum at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Antti Illmanen, Ph.D., is a Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital. Antti spent seven years as a senior portfolio manager at Brevan Howard and a decade at Salomon Brothers/Citigroup. He began his career as a central bank portfolio manager in Finland.    Antti has published extensively in finance and investment journals and has received a Graham and Dodd award, the Harry M. Markowitz special distinction award, and multiple Bernstein Fabozzi/Jacobs Levy awards for his articles. Antti is the author of Expected Returns (Wiley, 2011), a broad synthesis of the central issues in investing, and Investing Amid Low Expected Returns (Wiley, 2022), which addresses the challenges facing investors amid the prospect of record-low future expected returns.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Rob Berger is an investment technology guru. A litigation attorney in a previous life, Rob started Doughroller.net in 2007, an online community for people to improve their finances and build wealth. The site received tens of millions of visitors. Rob sold the website in 2018, became a Forbes Deputy Editor, published a book, Retire Before Mom and Dad, and now runs the Financial Freedom Show (YouTube), RobBerger.com, and Allcards.com, a website about credit cards and banking.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Episode #47 features two guests who discuss the evolution in the investment adviser industry over the decades and the conflicts of interest that have occurred.   Michael Kitces is the head of planning strategy at Buckingham Wealth Partners, co-founder of the XY Planning Network, among other companies, the host of the Financial Advisor Success podcast and the publisher of the Kitces Report newsletter, and the Nerd's Eye View blog at kitces.com.   Dr. Nicole Boyson is the chair of the Finance Dept at Northeastern University's D'Amore-McKim School of Business. Her research focuses on institutional investors, with a current interest in conflicts of interest among financial advisors. She also serves as a co-editor (3 co-editors) for Financial Analysts Journal and is on the board of directors for the Eastern Finance Association.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Episode #46 features two guests who discuss Environmental, Social, and Governance (ESG) investing. The first guest is Larry Swedroe, Chief Research Officer of Buckingham Strategic Wealth and the co-author of a new book titled Sustainable Investing with Samuel Adams. The second guest is Dr. Ellen Quigley, Special Advisor to the Chief Financial Officer at the University of Cambridge and a Senior Research Associate in Climate Risk and Sustainable Finance at the Centre for the Study of Existential Risk.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

This episode features two guests who discuss total bond market investing. The first guest is Nick Gendron, Global Head of Fixed Income Index Product Management at Bloomberg. This is where the index originates. The second guest is Josh Barrickman, Principal, Senior Portfolio Manager, and Head of Fixed Income Indexing Americas. He and his team manage Vanguard bond index fund portfolios invested in U.S. and international markets.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.    

Eric Balchunas is the Senior ETF Analyst at Bloomberg. He writes research reports, articles, and feature stories about ETFs for the Bloomberg terminal and Bloomberg.com. In this episode, we discuss his new book is The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Eduardo Repetto, Ph.D., is the Chief Investment Officer (CIO) of Avantis Investors, where he is responsible for directing the research, design, and implementation of investment strategies for over $10 billion in factor-based ETFs and mutual funds. Prior to Avantis Investors' establishment in 2019, Eduardo was Co-Chief Executive Officer, Co-Chief Investment Officer, and Director at Dimensional Fund Advisors (DFA funds).   In this podcast, we discuss Eduardo's career, his successes at DFA and now at Avantis. The conversation centers on factor investing, and primarily small-cap value investing. What does the past data say, what's new in factor investing today, and does it make sense to consider this niche part of the equity market for a slice of your equity portfolio?    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Spencer Jakab is the Editor of the "Heard on the Street" column for the Wall Street Journal and the author of two books. His new book is "The Revolution That Wasn't: GameStop, Reddit and the Fleecing of Small Investors," which is the topic of our conversation. Previously he wrote "Ahead of the Tape" published in 2015. Prior to joining the WSJ, Spencer was an analyst and later a director of emerging markets equity research at Credit Suisse.   Back in 2020, when millions of mostly young people opened brokerage accounts for the first time while sheltering from the Covid-19 pandemic, it seemed like they could do no wrong, even as some legendary investors could do no right. But that all changed after a climactic battle between the haves and have-nots during January 2021. In this surreal interview, we look back over the rise and fall of meme stocks, young and wild Robinhood traders, COVID checks and easy credit, and the Reddit revolution that wasn't.     This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

James (Jim) Watkins, III, J.D., CFP, is an attorney and adviser specializing in fiduciary best practices. He has extensive experience in the areas of securities law, trust law, forensic investment analysis, financial planning, asset protection, wealth management, estate planning, and pension design.   He is the author of The 401(k)/403(b) Investment Manual and publishes two blogs. “CommonSense InvestSense” (investsense.com) for individual investors and fiduciaries, and “The Prudent Investment Fiduciary Rules” (iainsight.wordpress.com) for investment advisors and other professional investment fiduciaries.   Jim has been an attorney since 1981 and is the owner of The Watkins Law Firm. His career also includes serving as a compliance officer with several national brokerage firms and as the director of financial planning quality assurance for the advisory division of an international insurance corporation. He is a 1977 honors graduate of Georgia State University and a 1981 graduate of the University of Notre Dame Law School.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Dr. Ed Yardeni is the President of Yardeni Research, Inc., a provider of global investment strategies and asset-allocation analyses and recommendations for institutional investors. In this podcast, we discuss his new book, In Praise of Profits, review economic activity from 2021, and look ahead to 2022.    Dr. Yardeni earned his PhD in economics from Yale University in 1976, a master's degree in international relations from Yale, and completed his undergraduate studies magna cum laude at Cornell University. He previously served as the Chief Investment Strategist and Chief Economist of several Wall Street firms and asset managers and was an economist with the Federal Reserve Bank of New York, held positions at the Federal Reserve Board of Governors, the US Treasury Department in Washington, D.C., and taught at Columbia University's Graduate School of Business.   Dr. Yardeni is frequently quoted in the financial press, including The Wall Street Journal, the Financial Times, The New York Times, The Washington Post, and Barron's. He was dubbed “Wall Street Seer” in a recent Barron's cover story. He also appears frequently on CNBC, Bloomberg Television, and Fox Business.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Barry Ritholtz is an author, blogger, podcast host, and the Founder and CEO of Ritholtz Wealth Management LLC. He has been called the “blogfather” for his long-standing finance weblog, The Big Picture. Barry is also the creator and host of Masters in Business, the most popular podcast/show on Bloomberg Radio. These 60-90 minute conversations are with many of the most accomplished, fascinating people in business and finance.    Our discussion today focuses on Barry and his views on various investment topics. We discuss how he works through hundreds of articles and news stories each day to find ten relevant items for his free reading list. He also talks about the most memorable guests on his podcast, both good and bad, and how all 400 episodes can be used by listeners. Last, we hear Barry's opinions on portfolio-related topics, including cyber currency.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Ted Aronson of AJO Partners joins me for a candid discussion about Vanguard's plans to bring private equity to the masses and their addition of actively managed funds to their Personal Advisor Services (PAS) program. We begin with a tribute to David Swenson, the late OIC of Yale Endowment and the founder of the Yale Model, commonly known in the investing world as the Endowment Model. David was outspoken about why individual investors should avoid private equity, and how difficult it is to pick active fund managers who will outperform the capital markets.    Ted joined Drexel Burnham Lambert in 1974 while still a graduate student. He was a member of the Quantitative Equities Group, which managed the Revere Fund, the first actively managed fund registered with the SEC to employ Modern Portfolio Theory. Prior to forming AJO, Ted founded Addison Capital Management. Ted was past chair of the CFA Institute and the Association for Investment Management & Research and is a CFA charterholder. He is also a trustee of Spelman College and chair of its investment committee.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Gerry O'Reilly is the manager of the $1.3 trillion Vanguard Total Stock Market Index Fund and ETF, and Rich Powers is the Head of ETF and Index Product Management at Vanguard. In this fascinating interview, we go behind the scenes to learn how the largest mutual fund in the world operates. Our discussion covers trading the mammoth fund - including tricky microcap stocks, fund fees and expenses, security lending, proxy voting, tax efficiency, cash management, in-kind additions and distributions, and a lot more!    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Lisa Bragança, JD, MBA, is a former Branch Chief in the Division of Enforcement of the Chicago Office of the Securities & Exchange Commission. She handled investigations of accounting fraud, Ponzi schemes, insider trading, churning, and unsuitable investments. Today, Lisa is now in private practice at Bragança Law.   Throughout her career, Lisa has been an advocate for the rights of people with physical, cognitive, and psychiatric disabilities. She previously served as counsel in three statewide class actions seeking to compel the State of Illinois to comply with the Americans with Disabilities Act. She also regularly speaks about elder financial exploitation, securities regulation, recovering investment losses, and cryptocurrency.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Ron Lieber is an award-winning New York Times “Your Money” columnist and the author of a new book, “The Price You Pay for College: An Entirely New Roadmap for the Biggest Financial Decision Your Family Will Ever Make.” Ron is also the author of “The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money” and co-author of “Taking Time Off: Inspiring Stories of Students Who Enjoyed Successful Breaks from College and How You Can Plan Your Own.”   Before joining The Times in 2008, Ron wrote the “Green Thumb” personal finance column for The Wall Street Journal and was part of the startup team at that paper's Personal Journal section.    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.        

Jason Hsu, Ph.D., is one of the world’s top thought leaders on factor investing and the co-creator of the fundamental indexing™ methodology. He has authored more than 40 peer-reviewed articles and won numerous research awards. Jason is a member of the board of directors at the Anderson School of Management at UCLA, as well as an adjunct professor in finance. He is an associate editor of the Journal of Investment Management and serves on the editorial board of the Financial Analysts Journal, the Journal of Index Investing, the Journal of Investment Consulting, and the Journal of Investment Management. Jason is the founder and chairman of Rayliant Global Advisors, and formally the co-founder and vice-chairman of Research Affiliates.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Jeff Ptak, CFA, is the global head of manager research at Morningstar Research Services, LLC, and past president & chief investment officer of Morningstar Investment Services. He also Co-hosts Morningstar's "The Long View" podcast with Christen Benz. Jeff has deep knowledge of active and passive investment strategies, and our talk focuses on key aspects of the active versus passive debate.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Talking taxes with Phil Demuth, Ph.D. Phil is a Managing Director at Conservative Wealth Management, LLC, and the author of nine personal finance books, most co-authored with his pal, economist Ben Stein. Phil has written for the Wall Street Journal, Barron’s, Forbes, the Journal of Financial Planning, Human Behavior, and Psychology Today. He has been quoted in the New York Times, the Financial Times, Yahoo! Finance, On Wall Street, Fortune, Research Magazine, Investor’s Business Daily, Motley Fool, theStreet.com and he has been seen on various TV shows, including CNBC’s Worldwide Exchange, On the Money, Squawk Box and Closing Bell, as well as Fox & Friends, Wall Street Week, and Consuelo Mack WealthTrack.   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.  

Jamie Catherwood is a financial historian and the publisher of the website Investor Amnesia. He received a history degree from King’s College London in 2017 before joining O’Shaughnessy Asset Management, a quantitative investment firm based out of Stamford, Connecticut. Jamie quickly built his reputation as an expert on the history of money and finance after starting a popular weekly blog that links current market activity and investor behavior to similar events and investor behaviors throughout the centuries. Jamie shared numerous interesting anecdotes in this podcast and draws clear parallels to the current environment    This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.

Sarah Newcomb, Ph.D., is a behavioral economist for Morningstar. In this role, she works to integrate the findings of her research into Morningstar's financial management applications and tools. Sarah has expertise in consumer psychology, economic decision-making, personal money management, and cognitive and social psychology.   Before joining Morningstar in 2015, Sarah earned her doctorate in behavioral economics from the University of Maine, where her work focused on the psychological barriers to sound personal money management. She is the author of LOADED: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind (Wiley, 2016).   This podcast is hosted by Rick Ferri, CFA, a long-time Boglehead and investment adviser. The Bogleheads are a group of like-minded individual investors who follow the general investment and business beliefs of John C. Bogle, founder and former CEO of the Vanguard Group. It is a conflict-free community where individual investors reach out and provide education, assistance, and relevant information to other investors of all experience levels at no cost. The organization supports a free website at Bogleheads.org, and the wiki site is Bogleheads® wiki.    Since 2000, the Bogleheads' have held national conferences in major cities around the country. There are also many Local Chapters in the US and even a few Foreign Chapters that meet regularly. New Chapters are being added on a regular basis. All Bogleheads activities are coordinated by volunteers who contribute their time and talent.     This podcast is supported by the John C. Bogle Center for Financial Literacy, a non-profit organization approved by the IRS as a 501(c)(3) public charity on February 6, 2012. Your tax-deductible donation to the Bogle Center is appreciated.