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4 episodes with ben felix
4 episodes with ben felix
4 episodes with ben felix
3 episodes with ben felix
2 episodes with ben felix
2 episodes with ben felix
What if the hardest part of investing isn't building a portfolio—but sticking to it? In this AMA edition of the Rational Reminder podcast, Ben Felix and Dan Bortolotti tackle listener questions ranging from sustainable retirement withdrawals to the dangers of structured products, with plenty of philosophical insights on risk, behavior, and financial planning. The episode opens with a deep dive into the 4% rule, exploring how time horizon, asset allocation, and global data can shift the definition of “safe.” They also explore the behavioral challenges of the “boring middle” of investing and why consistency may be the greatest alpha. Other standout segments include a sharp critique of bank-sold structured notes, an evidence-based takedown of trend following, and a fascinating discussion on the long-term impact of demographic shifts and index investing. Throughout, Ben and Dan blend technical insight with practical wisdom and academic research, delivering a thoughtful and entertaining conversation for both DIY investors and those working with advisors. Key Points From This Episode: (0:01:07) What the latest data says about safe withdrawal rates, especially for early retirees with 100% equity exposure. (0:08:45) How variable vs. fixed withdrawals affect outcomes—and the trade-offs retirees must consider. (0:17:01) The behavioral risks of the “boring middle” and how automation or advice helps investors stay disciplined. (0:26:13) Reflections on market crashes—why hindsight downplays the emotional reality of volatility. (0:33:27) Commission conflicts: Why bank advisors push structured notes and the incentives behind them. (0:44:22) Education vs. malice: Are bad financial advisors untrained, conflicted, or both? (0:49:08) Are structured notes ever justified? (Spoiler: very rarely.) (0:56:44) Trend following: Legitimate strategy or fancy market timing? Examining the live track records. (1:02:52) Diversifying your life like a portfolio: Applying the PERMA model to personal growth. (1:10:18) The one use of leverage that actually makes sense—and why most others don't. (1:14:20) Will aging demographics crash ETF markets? What the data and theory suggest. (1:19:02) Why even complex macro trends don't justify deviating from a simple, low-cost investment plan. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://ca.linkedin.com/in/dan-bortolotti-8a482310 Episode 261: Felix Fattinger - https://rationalreminder.ca/podcast/261 Episode 314: Valentin Haddad - https://rationalreminder.ca/podcast/314 Episode 302: Michael Green - https://rationalreminder.ca/podcast/302 Episode 222: Cassie Holmes - https://rationalreminder.ca/podcast/222 Episode 278: Juhani Linnainmaa - https://rationalreminder.ca/podcast/278 Episode 212: Ralph S.J. Koijen - https://rationalreminder.ca/podcast/212 Episode 322: Marco Sammon — https://rationalreminder.ca/podcast/322Marco Sammon
Our guest on the podcast today is Ben Felix. Ben is chief investment officer for PWL Capital, a Canadian wealth management firm. He also co-hosts the Rational Reminder podcast and is the host of a YouTube channel that covers finance and investing-related topics. He joined PWL Capital in 2013 after completing a degree in mechanical engineering as well as an MBA. He is a CFA charter holder and a CFP professional. Ben, welcome to The Long View.BackgroundBioPWL CapitalRational Reminder podcastCanadian Market and Home-Country Bias“The Passive vs. Active Fund Monitor,” by Raymond Kerzerho, pwlcapital.com, Winter 2024.“Passive Beats Active Again in 2024,” by James Parkyn, capitaltopics.com, April 30, 2025.“Canadians Reducing Home Bias, Eh? Vanguard Research Finds That Investors Are Increasingly Going Global,” vanguard.ca, June 2024.Rational Reminder Podcast“Episode 169: Prof. John Cochrane: (Modern) Modern Portfolio Theory,” Rational Reminder Podcast, Sept. 30, 2021.“Understanding Crypto 14: Prof. John Cochrane: Money, (Fiscal) Inflation, and Political Freedom,” Rational Reminder Podcast, Sept. 2, 2022.“Episode 284: Prof. Scott Cederburg: Challenging the Status Quo on Lifecycle Asset Allocation,” Rational Reminder Podcast, Dec. 21, 2023.“Episode 350: Scott Cederburg: A Critical Assessment of Lifecycle Investment Advice,” Rational Reminder Podcast, March 27, 2025.“Episode 316: Andrew Chen: ‘Is Everything I Was Taught About Cross-Sectional Asset Pricing Wrong?!'” Rational Reminder Podcast, Aug. 1, 2024.“Episode 102: Dr. Brian Portnoy: Underwriting a Meaningful Life,” Rational Reminder Podcast, June 11, 2020.“Episode 171: Prof. Campbell R. Harvey: The Past and Future of Finance,” Rational Reminder Podcast, Oct. 14, 2021.Other“The Misguided Beliefs of Financial Advisors,” by Juhani T. Linnainmaa, Brian Melzer, and Alessandro Previtero, Journal of Finance, March 22, 2021.Rational Reminder Community“OneDigital Expands Into Canada With Investment in PWL Capital, Expanding Wealth Management Services Across Borders,” OneDigital.com, Jan. 23, 2025.“Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice,” by Scott Cederburg, Aizhan Anarkulova, and Michael S. O'Doherty, papers.ssrn.com, March 5, 2025.The Fiscal Theory of the Price Level, by John Cochrane
Here are today's Five Question Friday (FQF):1. Are financial apps safe?2. Can you help me understand the risk of bonds?3. How are mutual fund dividends taxed?4. How should we think about annuities for retirement income?5. Does Ben Felix hate index funds?Ben Felix video: • The Problem With Index Funds Join the Newsletter. It's Free:https://robberger.com/newsletter/?utm...
Ventitreesimo episodio del podcast Finanza Personale in 5 minuti, con link per approfondimenti.Disclaimer: i link a prodotti Amazon sono dei link affiliati e se li compri passando da qui ottengo una piccola quota dei ricavi, senza variazioni del prezzo di acquisto per te. Ma puoi anche cercare le stesse cose su Google :)JustETF: sito di riferimento per analizzare e confrontare i diversi ETF presenti sul mercatoToo Big To Fail: un podcast di finanza personale “pressapochista, lazzarone, disordinato, pigro ed anche un po' antipatico” come lo definiscono i loro autori Alain, Nicola, Vittorio. Consigliatissimo! (E anche i loro blog: Salto Mentale, The Italian Leather Sofa, Finanza Cafona). Il canale YouTube di Ben Felix: una fonte enorme di spunti che mi hanno aiutato a capire tanti errori e suggerimenti comuni ma sbagliati - o quantomeno inadeguati - nel mondo degli investimenti. In inglese.The Little Book Of Common Sense Investing, di John Bogle: il libro del fondatore di Vanguard sull'utilità dell'index investing. In inglese, ma esiste anche la versione tradotta in italiano, Il piccolo libro dell'investimento.A Random Walk Down Wall Street, di B. Malkiel: tutto sulla terminologia utilizzata nel mondo finanziario, guida al ciclo di vita degli investimenti, come analizzare gli strumenti di investimento...uno dei libri più interessanti e completi. In inglese, tradotto in italiano in A spasso per Wall Street.Il canale YouTube di Mr. Rip: raccomandata la serie “Investing from Zero to Hero”.Il canale Youtube di CiaoElsa: una fonte autorevole su tutto il mondo della previdenza complementare.La wiki di Italia Personal Finance: molti articoli utili con approfondimenti.Banker On Wheels: un blog con tantissime informazioni utili sul mondo del passive investing, ETF e una rassegna di articoli nuovi ogni fine settimana. In inglese.Of Dollars And Data: un blog di finanza personale con analisi di dati concrete. In inglese.Curvo Backtest: uno strumento completo per effettuare backtesting (una modalità per analizzare le possibili prestazioni di una strategia di investimento, applicandola a gruppi di dati storici del mondo reale) su tantissimi tipi di strumenti e portafogli. Il libroIl blogIl canale YoutubeIl modello per la gestione del patrimonioLa dashboard
What are the investment implications of Bitcoin's past performance? How should investors think about market efficiency in places with high corruption and low transparency? Is return stacking a game changer for individual investors? In this AMA episode, Ben Felix, Dan Bortolotti, and Mark McGrath tackle some of the most pressing financial and investment questions from listeners. They explore the efficiency of markets, the role of leverage in portfolios, and whether valuation metrics like the Shiller PE are still relevant today. Join us for insights on modern investing, behavioral finance, and the principles guiding long-term wealth building. Key Points From This Episode: (0:00) Introduction and AMA format discussion (3:32) Bitcoin as an investment and its role in a portfolio (14:29) The debate on factor investing in markets where factor ETFs are unavailable (19:40) The role of ETFs and whether a single all-equity fund is optimal (22:22) The risks and opportunities of buffered ETFs (26:25) Investing in markets with high corruption and low transparency (29:42) Emerging market investing and its place in a diversified portfolio (30:06) The concept of "Return Stacking" and its viability for investors (38:55) Should individual investors use leverage for higher returns? (40:51) Balancing Benjamin Graham's philosophy with modern portfolio theory (47:51) The role of valuation metrics like the Shiller PE ratio in predicting returns (50:16) The impact of AI and tech stocks on market performance (56:12) The psychology of investing and resisting market noise Links From Today's Episode: Rational Reminder on Apple Podcasts — https://podcasts.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/@rationalreminder/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin Felix on X — https://x.com/benjaminwfelix Benjamin Felix on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Borltolotti — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP
PWL Capital is undergoing an exciting change that will help the company bring a greater positive impact to the Canadian Wealth Management space and serve more clients effectively. In this episode, Ben Felix and Cameron Passmore welcome Mike Sullivan, co-founder of OneDigital, to share the inside story behind PWL Capital's recent decision to join forces with OneDigital. With nearly 25 years of experience in growth through acquisitions, Mike explains how their unique culture and strategic vision led to this exciting collaboration. We discuss Mike's role in driving OneDigital's expansion and how the company's values align with PWL's mission to offer low-cost, client-centric, systematic investing. He provides insights into why this partnership represents more than just a business transaction by amplifying a shared vision for Canadian investors. Our conversation also delves into the dynamics of mergers and acquisitions and examines the importance of culture and purpose in making these critical decisions. Today's episode offers a rare inside look at an M&A transaction with key players that many listeners will already be well-acquainted with. Tune in now to hear it all! Key Points From This Episode: (0:00:16) Details on PWL Capital's decision to partner with OneDigital. (0:14:31) An introduction to co-founder Mike Sullivan and OneDigital. (0:16:38) How Mike knows when an acquisition will be a good fit. (0:19:13) The opportunities for building a different kind of wealth management firm in Canada. (0:21:14) What attracted Mike to PWL as a potential OneDigital partner. (0:34:05) Mike's insights on applying what's worked to the Canadian marketplace. (0:36:14) How being part of OneDigital will make PWL better. (0:37:59) Mike and his co-founder Adam Bruckman's objectives for OneDigital. (0:40:20) Why you shouldn't expect changes to PWL's service offerings or teams. (0:45:02) How being part of OneDigital will help PWL assist other like-minded advisors. (0:46:36) The typical advisor profile that PWL/OneDigital Canada would like to attract. (0:53:15) Reflections on our hopes and goals: what we are looking forward to at PWL. (0:57:45) Mike's definition of success, plus Cam and Ben's answer to the success question! Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Mike Sullivan on LinkedIn — https://www.linkedin.com/in/mikesullivanatdigital/ OneDigital — https://www.onedigital.com/
What drives the best financial planning decisions? In this episode, Ben Felix and Mark McGrath sit down with Ben Mathew, a PhD in economics from the University of Chicago and author of Economics: The Remarkable Story of How the Economy Works. The discussion explores the lifecycle model of economics, a powerful yet underutilized framework for financial planning, and contrasts it with traditional approaches like safe withdrawal rates (SWR). Ben Mathew shares insights into the lifecycle model, its origins, and its practical applications in aligning financial decisions with personal goals over a lifetime. We also dig into Ben's innovative financial planning tool, TPAW (Total Portfolio Allocation and Withdrawal) Planner, designed to bring the lifecycle model into practice. While the discussion delves into the complexities of financial planning, it's packed with actionable insights for listeners seeking smarter, evidence-based strategies. Join us for a deep dive into the lifecycle model and discover how it compares to traditional safe withdrawal rates. Key Points From This Episode: (0:02:31) Identifying the main problem financial planning aims to solve and the biggest challenges in creating a plan for saving and spending across a lifetime. (0:05:49) Exploring the effectiveness of simple rules of thumb, like the 4% rule, and the economic models available to analyze financial planning problems. (0:09:16) Why the lifecycle model isn't more widely adopted. (0:12:06) The basic premise of the lifecycle model. (0:16:45) How withdrawals in the lifecycle model relate to amortization and how risk affects amortization-based withdrawals. (0:21:12) Examining how amortization-based variable spending aligns with consumption smoothing and responds to portfolio drops. (0:25:25) How updating expected return assumptions mitigates behavioural worry during market drops. (0:26:37) The variability in spending seen in historical simulations, how variable spending can be tailored to individual preferences, and the recommended frequency for updating financial calculations. (0:38:30) What the lifecycle model advises about asset allocation. (0:42:00) The importance of expected return assumptions in lifecycle asset allocation advice. (0:45:28) Adjusting lifecycle advice for when you have limited information about expected returns and how retirement glide paths compare to the lifecycle model. (0:50:03) How asset allocation in the model changes based on the time horizon of the goal. (0:54:10) The influence of different wealth levels on asset allocation in the lifecycle model. (0:56:43) How the safe withdrawal rate methodology works and key problems with its approach. (01:08:11) Connecting the probability of success metric to the utility function and differentiating variable safe withdrawal rates (SWR) from amortization-based withdrawals. (01:17:02) An overview of Ben's exciting online tool, TPAW (Total Portfolio Allocation and Withdrawal) Planner, for bringing the lifecycle model into practice. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Ben Mathew — http://www.benmatheweconomics.com/ Ben Mathew on LinkedIn — https://www.linkedin.com/in/bmathecon/ TPAW Planner — tpawplanner.com Bogleheads — https://www.bogleheads.org/wiki/Main_Page Books From Today's Episode: Economics: The Remarkable Story of How the Economy Works — https://www.amazon.com/Economics-Remarkable-Story-Economy-Works/dp/0988669102 The Missing Billionaires: A Guide to Better Financial Decisions — https://www.amazon.com/Missing-Billionaires-Better-Financial-Decisions/dp/1119747910
As the year draws to a close, the Rational Reminder Podcast team delivers an engaging year-end special with a unique twist. Rather than curating clips from previous episodes, Ben Felix, Dan Bortolotti, and Mark McGrath dive into an AMA-style episode, answering listener-submitted questions. They share reflections on lessons learned, highlight impactful community discussions, and provide thoughtful takes on investing strategies, personal growth, and financial planning. They discuss their evolving views on human capital integration, portfolio diversification, and the importance of behavioural finance in long-term planning. They also revisit key themes from earlier episodes and offer heartfelt thank-yous to their team and audience for a remarkable year. Join us for a mix of practical insights, entertaining banter, and a glimpse into what's ahead for the Rational Reminder Podcast. Don't miss this memorable year-end wrap-up! Key Points From This Episode: (0:00:00) Episode format and a thank you to the PWL Capital team, producers, and audience. (0:05:14) Influential community discussions and their insights on efficient ETF design. (0:10:14) Hear the reason behind Ben's decision to shave his head for so long. (0:13:51) How to integrate human capital into useful financial planning and strategy. (0:19:33) They share their thoughts on the evolving definition of success in life and work. (0:23:33) Their top finance and investment book recommendations for retail investors. (0:28:50) Uncover the nuances of assessing a value premium within an ETF. (0:30:46) How real-life events shaped their approach to providing guidance and financial advice. (0:37:18) Return stacking and a comparison of Dimensional's and Avantis' vector portfolios. (0:41:05) Risks of bonds, bills, and credit and why past returns do not guarantee future results. (0:48:27) Explore the complexities of tax-efficient ETFs and Thrift Savings Plan (TSP) options. (0:56:50) Balancing long-term investment assumptions with short-term market dynamics. (1:03:23) We debate the U.S. market's valuation and the implications for asset allocation. (1:10:15) Hard financial lessons from Ben, Mark, and Dan's investment journeys. (1:16:29) Unpack the pros and cons of life insurance, infinite banking, and whole life insurance. (1:28:35) Aftershow: reviews, Marks's beard, a final thank you, and more. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/ The Podcast Consultant — https://thepodcastconsultant.com/ Morgan Housel — https://www.morganhousel.com Dimensional Fund Advisors — https://dimensional.com/ Avantis — https://avantisfi.com/ Dan Solin — https://danielsolin.com/ Global X — https://globalxetfs.com/ Episode 138: Factor Investing in Fixed Income — https://rationalreminder.ca/podcast/138 Episode 163: Dave Plecha — https://rationalreminder.ca/podcast/163 Episode 198: Gerard O'Reilly — https://rationalreminder.ca/podcast/198 Episode 316: Andrew Chen — https://rationalreminder.ca/podcast/316 Episode 332: Randolph Cohen & Michael Green — https://rationalreminder.ca/podcast/332 Books From Today's Episode: Are You a Stock or a Bond? — https://amazon.com/Are-You-Stock-Bond-Financial/dp/0133115291 Reboot Your Portfolio — https://amazon.com/Reboot-Your-Portfolio-Successful-Investing-ebook/dp/B09P4G9LR7 Wealthier — https://amazon.com/Wealthier-Investing-Field-Guide-Millennials-ebook/dp/B0CX2VD1CW The Psychology of Money — https://amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681 Thinking, Fast and Slow — https://amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 A Random Walk Down Wall Street — https://amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338/ Winning the Loser's Game — https://amazon.com/Winning-Losers-Game-Strategies-Successful/dp/1264258461/ Wealth Planning Strategies for Canadians 2024 — https://amazon.ca/Wealth-Planning-Strategies-Canadians-2024/dp/166871504X Becoming Your Own Banker — https://amazon.com/Becoming-Your-Own-Banker-Infinite/dp/B001NZO1DS — Papers From Today's Episode: 'Who Are the Value and Growth Investors?' — https://onlinelibrary.wiley.com/doi/abs/10.1111/jofi.12473 'Portfolios for Long-Term Investors' — https://academic.oup.com/rof/article/26/1/1/6484661 'Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice' — https://dx.doi.org/10.2139/ssrn.4590406
As this podcast is being released on Thanksgiving Day Paul begins by thanking those people who choose to follow the Foundation's work, those who forward our articles, podcasts and videos to others, and those who donate time and money to the Foundation. He also addresses the challenges of living at three different homes (Bainbridge Island, Portland and Rancho Mirage) in 2024. We know some donations have been lost in the mail. Our concern is people will declare a charitable deduction that did not actually happen. By the way, the permanent address of the Foundation is now - 2445 NW Westover Road #311, Portland, Oregon 97210. Paul comments on his challenges in recommending cryptocurrency. Finally he discusses the life changing impact of goal setting. The following are articles and videos on goal setting from some of the Truth Tellers Paul recommends. Jim Dahle writes to young doctors but the information is usually good for all people who are putting together a financial plan. The Power of Focus in Your Financial Life Jonathan Clements is struggling with cancer and for anyone facing death sooner than expected, and the goal setting that might be considered, I think you will find his journey worth reading. The C Word. William Bernstein has recently updated his best selling , “The Four Pillars of Investing.” In this short introduction you will hopefully decided it's worth reading the rest of the book. Here is a podcast that you won't want to miss. Larry Swedroe is interviewed by another Truth Teller, Ben Felix and Cameron Passmore. The book they discuss has been updated since the interview. "Your Complete Guide to a Successful and Secure Retirement" is one of the best books I know for those trying to address the many important retirement goals. While Christine Benz is the Director of Personal Finance at Morningstar I thought it might be interesting to get her take on the non-financial plans we should consider. Her new book has become a best seller. How to Retire: 20 lessons for a happy, successful, and wealthy retirement.
There are many different considerations behind housing when you are in the position to choose between renting or buying. During this episode, hosted by Ben Felix and Dan Bortolotti, we address user questions and comments on homeownership, rentals, and the factors that may lead to choosing one over the other. We discuss what makes homeownership more attractive as your financial situation evolves, consider whether or not landlords are making money on their properties in 2024, and explore the explanations behind whether or not renters are less wealthy than owners. This conversation also touches on one of the most common misconceptions about housing, why it is untrue, and how to make this key decision of renting or buying based on both lifestyle and financial considerations and the difference in mindset between renters and buyers. Join us today to hear all this and more. Key Points From This Episode: (0:02:06) Homeownership versus renting with renovations and rental evictions in mind. (0:08:40) Understanding the risks and rewards associated with securitive tenure. (0:10:09) Factors that may influence changing needs that may influence whether you rent or buy. (0:15:58) Three factors that one user would include in an argument of renting versus buying. (0:18:25) Addressing the idea that it is equally expensive for a family or landlord to own a home. (0:21:00) How the cost of homeownership evolves with time and other factors. (0:24:50) Why owning a home is not above and beyond better than renting or owning with a mortgage. (0:27:50) Understanding factors beyond financial considerations when it comes to renting versus owning. (0:34:10) The difference in mindset between homeowners and renters and the benefits of both. (0:38:10) Why it is so beneficial to be open-minded and add to conversations rather than rejecting other people's ideas. (0:40:25) Ben tells the story from the start of his career and Dan shares his experience of feedback on the Canadian Couch Potato blog. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/?team-search=benjamin+felix Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/blog/
How can the Rational Reminder Podcast get even better? By bringing back one of its most beloved voices, Dan Bortolotti, also known as "The Spud." In this exciting episode, hosts Ben Felix, Cameron Passmore, and Mark McGrath announce that Dan, the mind behind the Canadian Couch Potato Podcast, will now be a regular guest, contributing segments like "Bad Investment Advice" or "Ask the Spud.” Before Dan joins the conversation, we have an insightful discussion with Håkon Kavli, CIO of Reitan Kapital. Håkon shares how his team manages the wealth of one of Norway's most prominent families, comparable to Canada's Weston family. We discuss Reitan Kapital's evidence-based investing approach, their robust methods for overcoming portfolio optimization challenges, and much more. Håkon also sheds light on their upcoming investing conference in Norway, featuring speakers like our very own, Cameron Passmore, and Marcos López de Prado. Following this, Dan kicks off his return by dissecting an article that advocates going all-in on the QQQ ETF in an RRSP, exposing the dangers of such a concentrated and risky strategy. He contrasts this approach with the wisdom of diversifying across global markets, using examples like Vanguard's VEQT ETF, which offers exposure to over 13,000 stocks worldwide. Additionally, if you're a financial advisor interested in joining a planning-focused, fiduciary firm like PWL Capital, we encourage you to reach out. Our team is growing, and we're looking for like-minded individuals to join our mission. Tune in for a rich mix of expert advice, thoughtful discussions, and exciting announcements! Key Points From This Episode: (0:00:28) Announcements: a new regular guest, PWL's call for like-minded advisors, and more. (0:04:15) Introducing Håkon Kavli, the Reitan family, and the origins of Reitan Kapital. (0:08:06) Reitan Kapital's investment philosophy and asset allocation strategy. (0:10:29) The biggest differences between a Reitan Kapital portfolio and a market portfolio. (0:13:19) Capital market assumptions; how they influence Reitan Kapital's investment process. (0:20:38) Portfolio optimization challenges and Reitan's robust methods for addressing these. (0:35:06) The role of private equity in a diversified portfolio and how it differs from public equity. (0:38:40) Fee structure significance in private equity investments and their impact on returns. (0:40:38) Risks associated with private equity and how they compare to public markets. (0:43:36) Reitan Kapital's view on how private equity fits into a diversified portfolio. (0:49:08) Challenges of investing in private equity for retail investors. (0:50:26) Why so many institutions and firms have substantial allocations to private markets. (0:53:58) An overview of the research Håkon is most excited about. (0:56:20) Details for the upcoming conference in Norway, featuring Cameron Passmore. (0:59:16) Dan's Bad Investment Advice segment; going all-in on the QQQ ETF in an RRSP. (01:13:12) Our aftershow segment: listener feedback, our next meetup in Ottawa, a shoutout to Jason Pereira, and more. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti — https://www.canadianmoneysaver.ca/authors/dan-bortolotti Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/ Episode 308: Dan Bortolotti — https://rationalreminder.ca/podcast/308 Håkon Kavli on LinkedIn — https://www.linkedin.com/in/haakonkavli/ Reitan — https://reitan.no/no Reitan Kapital — http://www.reitankapital.no/ Weston — https://www.weston.ca/en/Home.aspx Marcos Lopez de Prado — https://www.orie.cornell.edu/faculty-directory/marcos-lopez-de-prado Antti Ilmanen — https://www.aqr.com/About-Us/OurFirm/Antti-Ilmanen Episode 224: Prof. Scott Cederburg — https://rationalreminder.ca/podcast/224 Sharpe ratio — https://www.investopedia.com/terms/s/sharperatio.asp Episode 210: Prof. Ludovic Phalippou — https://rationalreminder.ca/podcast/210 Reitan Kapital Conference — ‘An interesting RRSP idea – all in on QQQ?' — https://www.tawcan.com/all-in-on-qqq/ VEQT Vanguard All-Equity ETF Portfolio — https://www.vanguard.ca/en/investor/products/products-group/etfs/VEQT Mark Mid Graph on X — Jason Pereira — https://jasonpereira.ca/ Papers From Today's Episode: ‘Estimating Private Equity Returns from Limited Partner Cash Flows' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2356553 ‘Mutual Fund Flows and Performance in Rational Markets' — https://www.nber.org/papers/w9275 ‘What are Stock Investors' Actual Historical Returns? Evidence from Dollar-Weighted Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=544142
In this episode we answer emails from Brian, JD and Andrew. We discuss using leverage in portfolios (again!), gold ETFs and early retirement considerations and withdrawal strategies. And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:Yours Truly on the Forget About Money Podcast:
In this episode we answer emails from Justin, Joe and Jenzo. We discuss the legacy of Risk Parity Chronicles, basic accumulation principles, and what we can learn from a debate on gold between Ben Felix and Tyler of Portfolio Charts. And talk about our charitable promotion for the Father McKenna Center.And then we go through our weekly portfolio reviews of all eight of the sample portfolios you can find at Portfolios | Risk Parity Radio.Additional links:Father McKenna Center Donation Page -- Remember to mention "The Financial Quarterback match" in new donations: Donate - Father McKenna CenterFinancial Quarterback Podcast With Yours Truly: Breaking Down the Holy Grail of Diversified Portfolios w/ Frank Vasquez Jr. (Risk Parity Radio) (youtube.com)Justin's Station Wagon Portfolio: The Station Wagon Portfolio - Google DocsJenzo's Link to the Great Gold Debate: Ben & Tyler showdown - Google DocsAI-generated summary (use at your own risk):Can diversification safeguard your portfolio against turbulent market conditions? Join us at Risk Parity Radio, the podcast with a dive bar vibe where humor meets investment wisdom. This episode begins with a performance review of our eight sample portfolios, demonstrating how diversification has been a protective shield amid market volatility. Plus, we're excited to feature our charitable promotion for the Father McKenna Center, urging listeners to donate and take advantage of our matching offer.We welcome back Justin, the insightful mind behind the now-dormant "Risk Parody Chronicles," for a thought-provoking discussion on the value of freely sharing financial knowledge. We revisit the Station Wagon Portfolio and emphasize the significance of adhering to a well-devised investment strategy. We also respond to Joe's questions about the accumulation phase, advocating for a combination of low-cost index funds, such as S&P 500 and small-cap value funds, and stressing the importance of consistency over the allure of recent top performers.Curious about the timeless debate on gold's role in modern portfolios? We dissect a lively debate between Tyler and Ben Felix, scrutinizing the historical and contemporary merits of holding gold. Alongside, we provide a detailed market analysis, highlighting the recent rise in gold and long-term treasury bonds, and review how different portfolios like the All Seasons and Golden Butterfly have weathered the storm. This episode is a reminder to employ critical thinking and adopt a comprehensive approach when evaluating investment strategies and market trends.Support the Show.
Oggi vediamo il portafoglio modello di Ben Felix, portfolio manager e head of research di PWL Capital nonché superstar internazionale tra i creator di contenuti su finanza e investimento di buon senso. Vediamo la sua allocazione geografica, come inserisce i fattori Value e Small Caps e come trasporre questo portafoglio per un investitore Europeo. 7 giorni di prova gratuita e 30% di sconto sull'abbonamento annuale a 4Books. Seguiteci anche su Instagram! =============================================== Investi con Scalable in ETF e Azioni a costi imbattibili. L'Assicurazione sulla Vita semplice e conveniente: Turtleneck Ottieni le migliori tariffe per Luce, Gas, Internet e Cellulare con Switcho. I link sono sponsorizzati e l'Autore potrebbe percepire una commissione. =============================================== ATTENZIONE: nessun contenuto di questo podcast deve essere inteso come una raccomandazione di investimento. La citazione di determinati ETF è a mero scopo esemplificativo e non deve essere intesa in alcun modo come una sollecitazione all'acquisto di specifici prodotti finanziari. L'autore non è un consulente finanziario e non intende presentarsi come tale. Investire comporta dei rischi. Affidatevi sempre a dei professionisti e/o assicuratevi sempre di aver compreso pienamente il funzionamento, le implicazioni e i rischi di ciascun prodotto finanziario prima di investirvi del denaro. L'autore non è inoltre collegato ad alcuna società emittente di prodotti di investimento. Learn more about your ad choices. Visit megaphone.fm/adchoices
Hier geht's zum Artikel "Can You Beat Warren Buffett? (Better Question: Why Try?)" von Ben Felix ► https://www.pwlcapital.com/can-you-beat-warren-buffet/
Perché investire in azioni genera un rendimento nel lungo termine? A cosa è dovuta la crescita di valore del mercato azionario? E' ancora vero che l'S&P 500 rende il 10% all'anno in media? E in definitiva: che rendimento posso aspettarmi dalla componente azionario del mio portafoglio negli anni? A tutte queste domande, ispirate da una grande analisi di Ben Felix, proveremo a rispondere nell'episodio di oggi. Media Geometrica = (Capitale Finale / Capitale Iniziale) ^ (1/numero di anni) - 1 CAGR = Valore iniziale * (1 + rendimento annuo) ^ numero di anni Valore futuro con versamenti mensili = Val.Fut(rendimento/12;mesi;-versamento mensile;-capitale iniziale;1) Seguiteci anche su Instagram! =============================================== #ad #Scalablecapital
Join host Jeff Bernier, President of TandemGrowth Financial Advisors, and guest Ben Felix, Portfolio Manager and Head of Research at PWL Capital, for an enlightening episode of The Money & Meaning Show. Ben Felix shares insights from renowned experts in academia and the financial industry, shedding light on the consensus that owning the market portfolio through low-cost index funds is an excellent starting point for most investors. The conversation also explores the nuances of differentiating from the market—a point of contention among experts. Furthermore, they discuss Professor Scott Cederberg whose research focuses on the long-horizon performance of a range of asset classes and investment types and what the implications may be for retail investors, challenging conventional wisdom that stocks always outperform in the long run and advocating for global diversification. Ben Felix shares insights from interviews with retirement experts, highlighting the importance of embracing uncertainty as investors. Jeff and Ben highlight the role of financial advisors in helping clients navigate uncertainty, creating portfolios aligned with their goals, and providing reassurance during market downturns. The discussion underscores that the art of financial planning and advisory services and how it complements the scientific analysis of asset allocation, as clients' trust and the ability to stick with a chosen strategy are crucial factors in long-term success. #Investing #EvidenceBasedInvesting #LongTermInvesting
Trust is the key for most investors to stay the course for the long term. I formed a lasting trust in the academic work of Drs. Fama and French when I attended a 2 or 3 day workshop at Dimensional Fund Advisors in 1994. That trust led our firm to use the DFA funds since the mid 90s. While I believe there are a lot of people who find our long term studies helpful, I'm not sure that all of those people understand that almost all of our studies that go back to 1928 are based on the work of the academics who are associated with DFA.If you don't immediately feel better about the source of our data, I think you will feel better if you watch the new documentary, “Turn Off the Noise.” I sent it to Daryl and he responded, “Spectacular!” I sent it to Chris and his response was, “We stand on tall shoulders.”You can watch the documentary at no cost by going here. You will be asked to fill in a few pieces of information and use the Access Code: RATIONAL This offer only extends through January 31, 2024Then I would like you to watch a wonderful interview of Errol Morris, an Academy Award-winning film director and author. The following are the notes from interviewers Ben Felix and Cameron Passmore.In today's episode, Errol Morris, Academy Award-winning film director and author, joins us to talk about his recently released documentary called Tune Out the Noise. The documentary focuses on the revolution that's happened in the financial system, how the markets work, and why the advancements made are so vital. Errol is an acclaimed figure in film and literature, boasting an impressive array of accolades, notably securing an Oscar for his renowned documentary The Fog of War. His work spans various arenas, encompassing short films for prestigious events and many charitable and political organizations. In our conversation, we delve into the significance of storytelling in communicating complex subjects, the power of serendipity, the evolution of finance, and the enigmatic nature of truth. We discuss the necessity of storytelling, the unexpected occurrences that influenced finance, the importance of empirical data in understanding truth, the central story of Tune Out the Noise, and much more. He also provides insights into the amazing economists, many of whom are past guests, who helped shape the financial landscape. Discover how chance, humility, and the pursuit of truth intertwine in this captivating episode, where the intriguing art of storytelling converges with the complexities of the financial world. Tune in now!
Welcome to the Money Scope Podcast, where finance meets relatability and evidence-based wisdom takes centre stage. Join your hosts, Mark Soth and Ben Felix, as they take you on a deep dive into the world of personal finance, specifically tailored for Canadian professionals and beyond. In this engaging series, Mark and Ben blend their expertise in the medical and financial fields to offer you a unique perspective on managing your money. Drawing inspiration from their experiences, they present complex financial topics in a way that's both personally relatable and easy to understand. This is not your average finance show. It's an educational journey that strives to connect financial knowledge with real-life applications. Whether you're a Canadian professional, an advanced investor, or someone just starting to explore the world of personal finance, The Money Scope Podcast is your go-to source for reliable, relatable, and evidence-based financial information! Join Mark and Ben as they embark on this educational journey, aiming to empower you to take control of your financial life and create a brighter future for yourself, your family, and your community. Key Points From This Episode: (0:00:00) Overview of the podcast and what to expect from this episode. (0:00:42) Introducing Mark and details about his professional experience. (0:03:26) His motivation for starting The Loonie Doctor blog. (0:09:16) Learn about Ben's background and his pivot into the finance sector. (0:12:25) Dealing with biases and using an evidence-based approach to personal finance. (0:16:50) Ben shares his biases and perspective on DIY finance. (0:20:45) Disclosing potential conflicts of interest. (0:25:08) Reasons for starting the Money Scope Podcast. (0:30:16) The inspiration behind the name of the podcast. (0:33:02) An outline of the topic and themes to be covered on this podcast. (0:36:09) Our teaching approach and linking knowledge to application. (0:40:25) Final words and closing comments. Links From Today's Episode: Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ PWL Capital — https://www.pwlcapital.com/ Money Scope www.moneyscope.ca Dr. Mark Soth (The Loonie Doctor) — https://www.looniedoctor.ca/ Dr. Mark on X — https://twitter.com/LoonieDoctor Rational Reminder Podcast Episode 73 — https://rationalreminder.ca/podcast/73
In this week's podcast I focus on two topics: The first is the culmination of a 10 year project that just took a giant leap forward. As you know the mission of our Foundation is to help do it yourself investors make better investment decisions. The bottom line is we want to help them improve their financial future. While it is not addressed in our written mission, it is our desire to have the work continue beyond what the present group of volunteers can provide. That means finding a stable institution or organization to carry on our work. The following release from the Western Washington University introduces a new program that will soon establish a financial literacy program that will impact every student who attends WWU. Over the next 100 years this endowment should help millions of students and their families make better financial decisions. The second topic is about someone I think everyone of our readers should become familiar. On October 11 I will be speaking to the New York City AAII Chapter and on October 13 the Bogleheads Conference in Rockville, MD. In both cases I will be speaking on The Good, the Bad and the Ugly aspects of investing in small cap value. My hope is my presentation will motivate investors to give serious consideration to adding SCV to their portfolio. While I am excited about the opportunity to present our findings, I must admit the work that Ben Felix, one of our Truth Tellers, has done is about the best I have found on the topic. If you want to see one of the best cases for SCV please watch Ben do his magic.
AI is not new and financial mis-education is rife. These are two ideas that form the foundation of this episode, which features insights from Ben Felix, Mark McGrath, and guest speaker Anthony Walsh. To start our conversation, we explore the history of artificial intelligence and what it might mean for the future and beyond. During this Mark to Market segment, Mark McGrath shares his experience of owning property and becoming a landlord before we look back on Episode 155 with Don Ezra, where he revealed his thoughts on planning for life after work. Anthony Walsh, author of People Are Lying To You About Money joins us to discuss his efforts to remedy the lack of financial literacy among everyday people, how he approaches financial planning as a risk-averse person, and his move from lean FI to Coast Fi. He also shares his thoughts on the relative value of money, the importance of planning according to financial wellness and health, and more. Join us today to hear all this and so much more! Key Points From This Episode: (0:04:07) The cycles of AI development, excitement, and disappointment in technological history. (0:15:01) How technology bubbles impact investors and why investing in revolutionary technology is a questionable strategy. (0:18:50) The paradox of skill and how it applies to investment strategy. (0:23:40) Mark to Market Segment with Mark McGrath on real estate and rentals. (0:34:50) Looking back on Episode 155 with Don Ezra on planning for life after work. (0:37:03) Introducing today's guest: Anthony Walsh, who wrote People Are Lying To You About Money. (0:40:17) Four types of lies people tell about money and why most people are financially illiterate. (0:48:46) How Anthony navigates financial planning as a risk-averse person. (0:53:25) What motivated his move from Lean FI to Coast FI and the relative value of money. (0:55:10) The importance of planning according to financial wellness and health. (0:57:19) The after-show; shows and series your hosts have been watching and a book recommendation. Books From Today's Episode: Irrational Exuberance — https://www.amazon.com/Irrational-Exuberance-3rd-Robert-Shiller-dp-0691166269/dp/0691166269/ People Are Lying To You About Money — https://www.amazon.com/People-Are-Lying-About-Money-ebook/dp/B0BC9M5QQT Bubbles and Crashes — https://www.amazon.com/Bubbles-Crashes-Boom-Technological-Innovation/dp/0804793832 Links From Today's Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Shop Merch — https://shop.rationalreminder.ca/ Join the Community — https://community.rationalreminder.ca/ Follow us on X — https://twitter.com/RationalRemind Follow us on Instagram — @rationalreminder Benjamin on X — https://twitter.com/benjaminwfelix Cameron on X — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on X - https://twitter.com/MarkMcGrathCFP Mark McGrath on LinkedIn - https://www.linkedin.com/in/markmcgrathcfp/ Anthony Walsh on LinkedIn — https://www.linkedin.com/in/asw383/ Episode 155 — https://rationalreminder.ca/podcast/155 Episode 268 — https://rationalreminder.ca/podcast/268 Episode 244 — https://rationalreminder.ca/podcast/244 Reasons to Avoid Index Funds — https://www.youtube.com/watch?v=fvGLnthJDsg
Cameron Passmore Executive Chairman, Portfolio Manager, CIM®, FMA, FCSI, and Ben Felix Portfolio Manager, Head of Research, MBA, CFA, CFP®, CIM® BIO: Cameron Passmore is the Executive Chairman of PWL Capital, leading the firm's strategic vision and ensuring long-term success. With over 20 years of experience, he advocates for evidence-based, systemic investing. Cameron is committed to building a premier wealth management firm and shares his knowledge through the Rational Reminder podcast. Benjamin Felix is the Head of Research at PWL Capital, a Canadian wealth management firm known for its thought leadership and resources for investors. He co-hosts the Rational Reminder podcast and hosts a YouTube channel focused on evidence-based financial decisions. Benjamin's expertise lies in using evidence to inform financial choices while considering the psychological impact. Introduction:Tune in this week as we take a captivating journey behind the scenes of the popular Rational Reminder podcast, hosted by Ben and Cameron, two prominent figures in the world of finance and wealth management. With over 5 million downloads and a reputation for delivering valuable information, this podcast has become a trusted resource for many. Join us as we delve into the intriguing stories behind the creation of this fantastic show, uncovering the insights and experiences that have made it a go-to destination for invaluable financial knowledge and guidance. Highlights: Leaning into their passion: Discover how Ben and Cameron have embraced their love for finance and wealth management, and how it has shaped their remarkable journey. Balancing curiosity and vision: Explore how these two experts strike an equilibrium between being open-minded and flexible while staying true to their podcast's core vision. Understanding life beyond spreadsheets: Delve into the notion that life is inherently messy and cannot be solely quantified. Emphasizing quality over popularity: Gain insights into how Ben and Cameron prioritize providing high-quality content over conforming to popular opinions or trends. The power of small daily actions: How consistent, small, daily actions can create a profound impact on personal and financial life. Quotes: “Life is messy, humans are messy, you can't spreadsheet everything in a human's life” Cameron Passmore "There are diminishing returns to consumption, and money serves as a means to happiness, rather than an end in itself" Ben Felix LINKS: The Rational Reminder Podcast: CLICK HERE PWL Capital: CLICK HERE Finding and Funding A Good Life Paper: CLICK HERE Chapters:00:00:00 The Most Hated F Word: Transforming Our Relationship With Money00:05:38 A Nonconformist's Dream: Transforming an Abandoned Church into a Unique Pandemic Haven00:07:47 Early Birds and Superhumans: Balancing Productivity and Parenthood00:12:19 Defining Identity: Moving Beyond Labels in the World of Content Creation00:17:20 Camping Adventures and the Surprising Value of Worms: Exploring the Inflation of Childhood Dreams00:18:57 From Blown Away to Meaningful Clients: A Journey into the World of Mutual Funds00:22:53 Unveiling the Power of Fee-Based Investing: A Journey of Discovery and Financial Transformation00:23:57 Breaking the Branches: How Two Innovators Found Success by Going Against the Grain00:29:32 The Imposing Presence of Ben: A Tale of Intimidation and Success00:32:47 From Couch Potatoes to Academic Breakthroughs: The Evolution of Our Podcast00:37:29 Hidden Gems and Unexpected Surprises: Unveiling the Unforgettable Conversations with Nobel Laureate Bob Martin and Astronaut Chr00:42:34 Uncovering the Wealth of Knowledge: A Deep Dive into Financial Literacy with Countless Citations00:45:13 Unlocking Financial Freedom: Navigating the Journey to Your Dream Island with Finding, Funding, and Goals00:48:57 Unveiling the True Meaning of a Good Life: Exploring Happiness, Well-being,
Paul starts the podcast with an update on the Bogleheads Conference. For those who want to see a sample of last years presentations here is a link to all of the 2022 presentations. https://boglecenter.net/bogleheads-university/ For those interested in 2023 Conference, including list of speakers: https://boglecenter.net/conferences/ For this interested in exploring John Bogles archives: https://boglecenter.net/bogle-archive/ Paul is working on a list of 80 quotes investors might use to remind themselves of the important investment beliefs that keep investors on track. He asks listeners to send him the quotes that have kept you on track. Please send to paul@paulmerriman.com. Our Truth Tellers are individuals or organizations that, in our opinion, are committed to helping investors better understand the facts and act in their own best interest. Their work and voice consistently provides useful, evidence-based information and advice, often on topics that we do not cover, and we want you to be aware of them to help you be a better long-term investor. Here is a Truth Teller page for Ben Felix. Ben is the host of a popular YouTube series. His over 100 videos are some of the best teaching tools in the industry. The following are a few samples: Is Investing Risky? Dave Ramsey's Investing Advice Small Cap and Value Stocks Plus Ben and Cameron Passmore interview other financial experts on their podcast, Rational Reminder. They have made a special effort to interview many of the academics who have studied the investment process. Here is a wonderful interview with: Prof. Meir Statman: Financial Decisions for Normal People 5:16 Meir defines Behavioral Finance 15:37 The difference between a "normal" investor and a rational one 21:48 Why normal investors like lottery-like assets despite low or negative expected returns 26:24 The downsides to the "consume from dividends but don't dip into capital" rule 32:59 Why dollar-cost averaging is so persistent, when it is well-known to be rationally suboptimal 36:48 What makes strategies like covered calls and structured products so attractive to normal investors 43:19 Why normal wealthy people seek to invest in hedge funds and private equity, despite their questional benefits to a rational investor 48:24 How normal investors should deal with currency hedging in global portfolios 53:03 How behavioral portfolio theory differs from mean-variance portfolio theory 1:00:21 How an optimal behavioral portfolio differs from an optimal CAPM portfolio 1:09:21 How the typical risk-profile questionnaire can be adapted to improve the behavioral dimension of portfolios 1:15:53 How financial advisors can use behavioral finance principles to improve client outcomes 1:17:55 What puts financial advisors in a position to give well-being advice 1:23:27 Meir defines success in his life
In this episode we talk about irrational optimism and why it's a common characteristic of great founders and investors. We then look at a recent twitter post from Ben Felix who compared lump sum investing with dollar cost averaging (DCA). We finished the episode by talking about two companies on our radar that we've never discussed before on the podcast. Symbols of stocks discussed: MCO, SPGI, WISE.L, WST Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon's twitter: @Fiat_Iceberg Braden's twitter: @BradoCapital Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Sign up to Stratosphere for free
Dans cet épisode, James Parkyn et François Doyon La Rochelle accueillent à nouveau leur collègue Raymond Kerzérho, CFA, Directeur de la recherche chez PWL. Ensemble, ils discutent de la mise à jour des Hypothèses sur les marchés financiers pour les rendements attendus intitulée "Hypothèses de planification financière", qu'il a produit avec Ben Felix, Gestionnaire de portefeuille, MBA, CFA, CFP, CIM. - Financial Planning Assumptions (Market Capitalization Weighted Portfolio) - PWL Capital par Raymond Kerzerho & Benjamin Felix (Février 22, 2023) -Financial Planning Assumptions (Factor Tilted Portfolio) - PWL Capital par Raymond Kerzerho & Benjamin Felix (Février 22, 2023)
In this Episode, James Parkyn & François Doyon La Rochelle welcome back their dear colleague Raymond Kerzerho, PWL's Senior Researcher & Head of Shared Services Research. Together they discuss the update of the Capital Market Assumptions for Expected returns titled “Financial Planning Assumptions”, that he produced with PWL's Head of Research & Client Education, Ben Felix. - Financial Planning Assumptions (Market Capitalization Weighted Portfolio) - PWL Capital by Raymond Kerzerho & Benjamin Felix (February 22, 2023) -Financial Planning Assumptions (Factor Tilted Portfolio) - PWL Capital by Raymond Kerzerho & Benjamin Felix (February 22, 2023)
One resource that I check out every year is MoneySense's “Best ETFs in Canada” guide. They bring on a panel of experts to find Canada's top ETFs for DIY index investors (like myself). I found this guide extremely helpful when I was first getting started in investing, and now, many years later, I still read it when it gets updated annually, just to be “in the know” of what's happening when it comes to index investing in Canada, and to stay up to date on any significant changes like the updated fees, new ETF offerings, and any changes to existing top ETFs that you and I have in our portfolios already. This podcast interview is different from you just reading the written version of the guide because we actually do a deep dive into the different ETFs that are in the guide. Definitely check out the written version of the guide as well, especially since it has some really useful tables that nicely summarize what the top ETFs are, in the different categories. But, definitely still listen to this interview as the writer of the MoneySense guide is on the show today to dive deeper into the findings, along with one of the top panellists and experts, Ben Felix from PWL Capital to provide his analysis on the different top ETFs. Questions Covered: Bryan, can you start by telling us about your background, as well as this annual initiative led by MoneySense to determine the best ETFs in Canada? Ben, can you tell us a bit about your background and the work that you do? Bryan, how does voting work among the panellists before an ETF is admitted as one of the “Top ETFs in Canada”? Bryan, there are a lot of different investing strategies out there. When you and the panellists are evaluating what the best ETFs in Canada are, what is the goal and strategy that you are all focused on and what kind of investor is this top ETFs list for? Ben, before we get into the results, what should someone do if they are holding a past ‘top pick', and now they no longer see that pick on this year's list? In other words, when should we actually really consider swapping to a completely different ETF if we already have a good diversified index portfolio in place? Ben, when it comes to switching from one ETF to another, what are the trading costs that we need to be aware of? The $5-$10 trading commissions are the one I think most people are familiar with, but what about the bid/ask spread, how much of a cost impact does that have? And are there any other costs we need to be aware of, when for example someone is tempted to switch ETFs because let's say, a top pick for this year has a slightly lower MER? Top Canadian ETFs: Alright, let's take a look at the top Canadian, total market, index ETFs that give you exposure to the Canadian stock market. I noticed that all three of the top picks have the same management fee. We have BMO with ZCN, Vanguard with VCN, and iShares with XIC. Ben, BMO's ZCN and iShares' XIC look almost identical to me. Are there any key differences between these two that we should be aware of? The other thing that jumped out at me is that Vanguard's VCN has fewer holdings, 181 vs 240 compared to the iShares and BMO ETFs. Would this be considered a concern by implying that the Vanguard ETF is less diversified than the BMO and iShares versions? i.e. Why would you go with Vanguard when you can get more holdings and be more diversified with XIC or ZCN? Bryan, another top pick in this category is Horizons' HXT ETF, which covers the S&P/TSX 60. You mention in the article that “it's tax-efficient; and has a rock-bottom 0.04% fee after the rebate, until at least Dec. 31, 2022”. Can you explain what this rebate is, and why the “at least Dec 31 2022” timeline? Ben, Horizons has this unique tax structure with some of their ETFs, like HXT, where you don't receive the dividend payouts as income, but instead they get added to the fund so that you instead receive more capital gains. I realize that I'm maybe oversimplifying things a bit here, but essentially by holding an ETF like HXT in a personal taxable or corporate trading account, some Canadians save money by reducing their clawbacks when it comes to things like CPP, OAS, the Canada Child Benefit (CCB), and avoid the high tax rate when investing in a corporate account.Now in the past, the government closed this, (what I would consider a) loophole, but Horizons figured out a way to restructure their ETFs so that Canadians can still get these tax savings.This raises the concern of: What if the government changed things again, closes the 2nd loophole, and Canadians that were holding Horizons ETFs like HXT start selling off ETFs like HXT in large quantities because it no longer has this tax advantage? In this scenario, would the ETF plummet in price? Or no, because the ETF is still holding companies (in a way), and it's not like the value of all those companies will drop because there is a massive sell-off of the Horizons ETFs. The last time this closing of the “loophole” happened where the government changed the rules, I recall Horizons doing a press release where they said that if they can't find a workaround, they may have to close down those ETFs. If that was to happen in the future, would Canadian investors be hurt by this? Bryan and Ben: The other concern with HXT, is that it is only 60 Canadian companies, and I think most Canadians (myself included) would rather go for the total market approach with an ETF like ZCN, where they are now getting the entire S&P/TSX index with its 240 stock holdings.Do you think this tradeoff is worth it? (where you're getting less diversification, but some potential tax savings and/or clawback reduction on government benefits). Bryan and Ben, most Canadians do have a home country bias when it comes to their investment portfolio. Even when we look at asset allocation ETFs from all the major providers, they definitely hold more of Canada than Canada's percentage of the world equity markets. Why is that, and what is your stance on what percentage Canadian stocks should make up of a Canadian DIY investor's investment portfolio? US Market ETFs: Alright, let's jump to the US market. XUU still appears to be the favourite here among the panelists, as far as Canadian listed, US total market index ETFs go. The runner-up seems to be VUN which is comparable in terms of US stock market representation, but has a higher fee of 0.15% vs XUU's extremely low fee of 0.07%.Do you guys have any thoughts and comments on this one? International ETFs: Alright, let's jump to international stocks. Can you give us your thoughts on these, while touching on some of the nuances when it comes to choosing the different combinations, from the different providers, when it comes to emerging and developed international markets?
IN THIS EPISODE, YOU'LL LEARN: 03:13 - What a Roth IRA is and the contribution limits it has.15:38 - What an endowment fund is, who David Swensen is, and what an endowment model is.32:19 - Why chasing or copying money managers isn't a great strategy and why this typically doesn't end well for investors.52:38 - What the potential pitfalls and dangers are of investing in high-dividend-yielding stocks .01:08:13 - What The Feynman Technique is, and how Ben personally learns.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESBen Felix's YouTube account Common Sense Investing.Ben Felix's Rational Reminder podcast.Related Episode: Common Sense Investing w/ Ben Felix - MI054.Related Episode: Warren Buffett Might Not Actually be the Greatest Investor of All-Time w/ Ben Felix - MI077.All of Robert's favorite books.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One. Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers.Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Join Steadily and BiggerPockets in recognizing and celebrating landlords nationwide by participating in the #AmericasBestLandlord contest. Find out how you can win $10,000 today.Support our free podcast by supporting our sponsors. Connect with Ben: Website | LinkedIn | FacebookConnect with Robert: Website | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The Rational Reminder Podcast ✓ Claim Podcast Notes Takeaways Here is a summary breakdown of expected returns for alternative asset classes:Read the full notes @ podcastnotes.orgThe type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today's episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You'll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more. Key Points From This Episode: Outline of today's main topic: expected returns for alternative asset classes. (0:01:51) Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18) How to approach estimating the returns of private equity, specifically buyouts. (0:05:04) We unpack historical data regarding the returns of private equity. (0:07:35) Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35) The distribution of returns from venture capital based on the market numbers. (0:20:09) Learn what angel investing is and its associated returns. (0:20:54) What returns on angel investing are most dependent on and why. (0:22:21) The different types and the associated returns. (0:25:23) Hear about the fees associated with private credit. (0:27:42) We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29) A limiting factor on hedge funds: capacity constraints. (0:33:38) The takeaway regarding private real estate investments. (0:36:25) How private real estate is valued as an asset class. (0:37:48) Cryptocurrencies and the returns to be expected. (0:39:34) We discuss some of the key takeaways from today's main topic. (0:43:30) We follow up on a previous topic we covered: financial literacy. (0:45:10) Find out about an interesting conference that Cameron recently attended. (0:48:46) Hear about the recent reviews we have received about the podcast. (0:57:58) We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15) Where David's passion for reading about founders originates from. (01:02:25) David shares details about his reading habits. (01:05:57) His approach to finding founders that he wants to read about. (01:08:49) David's approach to note taking while reading a book. (01:11:07) We learn about the stories that have impacted David the most. (01:13:53) He explains the benefits of reading a book for a second time. (01:17:11) Books about founders that he thinks everyone should read. (01:19:20) David's observation of the role of luck in a founder's success story. (01:23:19) Advice he has for people who want to read more. (01:29:33) Links From Today's Episode: AQR Capital Management — https://www.aqr.com/ BlackRock Asset Management — https://www.blackrock.com Bank of America — https://www.bankofamerica.com/ ‘The risk and return of venture capital' — https://www.sciencedirect.com/science/article/pii/S0304405X04001564 ‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short ‘Do Hedge Funds Hedge?' — https://jpm.pm-research.com/content/28/1/6.short ‘The Performance of Hedge Fund Performance Fees' — https://www.nber.org/papers/w27454 ‘Higher risk, lower returns: What hedge fund investors really earn' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X ‘Another Look at Private Real Estate Returns by Strategy' — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist 'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549 ‘Beliefs and the Disposition Effect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567 ‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627 S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/ Future Proof Conference — https://futureproof.advisorcircle.com/ Invest Like the Best Podcast — https://investlikethebest.libsyn.com/ David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/ David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor David Senra on Facebook — https://www.facebook.com/david.senra.1 The Founders Podcast — https://founders.simplecast.com/ A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695 Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/ Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/ A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/ Against the Odds — https://www.amazon.com/Against-Odds/ Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/ Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/ Ben on Twitter — https://twitter.com/benjaminwfelix Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
The Rational Reminder Podcast ✓ Claim : Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- The type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today's episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You'll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more. Key Points From This Episode: Outline of today's main topic: expected returns for alternative asset classes. (0:01:51) Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18) How to approach estimating the returns of private equity, specifically buyouts. (0:05:04) We unpack historical data regarding the returns of private equity. (0:07:35) Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35) The distribution of returns from venture capital based on the market numbers. (0:20:09) Learn what angel investing is and its associated returns. (0:20:54) What returns on angel investing are most dependent on and why. (0:22:21) The different types and the associated returns. (0:25:23) Hear about the fees associated with private credit. (0:27:42) We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29) A limiting factor on hedge funds: capacity constraints. (0:33:38) The takeaway regarding private real estate investments. (0:36:25) How private real estate is valued as an asset class. (0:37:48) Cryptocurrencies and the returns to be expected. (0:39:34) We discuss some of the key takeaways from today's main topic. (0:43:30) We follow up on a previous topic we covered: financial literacy. (0:45:10) Find out about an interesting conference that Cameron recently attended. (0:48:46) Hear about the recent reviews we have received about the podcast. (0:57:58) We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15) Where David's passion for reading about founders originates from. (01:02:25) David shares details about his reading habits. (01:05:57) His approach to finding founders that he wants to read about. (01:08:49) David's approach to note taking while reading a book. (01:11:07) We learn about the stories that have impacted David the most. (01:13:53) He explains the benefits of reading a book for a second time. (01:17:11) Books about founders that he thinks everyone should read. (01:19:20) David's observation of the role of luck in a founder's success story. (01:23:19) Advice he has for people who want to read more. (01:29:33) Links From Today's Episode: AQR Capital Management — https://www.aqr.com/ BlackRock Asset Management — https://www.blackrock.com Bank of America — https://www.bankofamerica.com/ ‘The risk and return of venture capital' — https://www.sciencedirect.com/science/article/pii/S0304405X04001564 ‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short ‘Do Hedge Funds Hedge?' — https://jpm.pm-research.com/content/28/1/6.short ‘The Performance of Hedge Fund Performance Fees' — https://www.nber.org/papers/w27454 ‘Higher risk, lower returns: What hedge fund investors really earn' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X ‘Another Look at Private Real Estate Returns by Strategy' — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist 'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549 ‘Beliefs and the Disposition Effect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567 ‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627 S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/ Future Proof Conference — https://futureproof.advisorcircle.com/ Invest Like the Best Podcast — https://investlikethebest.libsyn.com/ David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/ David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor David Senra on Facebook — https://www.facebook.com/david.senra.1 The Founders Podcast — https://founders.simplecast.com/ A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695 Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/ Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/ A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/ Against the Odds — https://www.amazon.com/Against-Odds/ Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/ Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/ Ben on Twitter — https://twitter.com/benjaminwfelix Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
The Rational Reminder Podcast ✓ Claim Podcast Notes Takeaways Here is a summary breakdown of expected returns for alternative asset classes:Read the full notes @ podcastnotes.orgThe type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today's episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You'll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more. Key Points From This Episode: Outline of today's main topic: expected returns for alternative asset classes. (0:01:51) Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18) How to approach estimating the returns of private equity, specifically buyouts. (0:05:04) We unpack historical data regarding the returns of private equity. (0:07:35) Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35) The distribution of returns from venture capital based on the market numbers. (0:20:09) Learn what angel investing is and its associated returns. (0:20:54) What returns on angel investing are most dependent on and why. (0:22:21) The different types and the associated returns. (0:25:23) Hear about the fees associated with private credit. (0:27:42) We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29) A limiting factor on hedge funds: capacity constraints. (0:33:38) The takeaway regarding private real estate investments. (0:36:25) How private real estate is valued as an asset class. (0:37:48) Cryptocurrencies and the returns to be expected. (0:39:34) We discuss some of the key takeaways from today's main topic. (0:43:30) We follow up on a previous topic we covered: financial literacy. (0:45:10) Find out about an interesting conference that Cameron recently attended. (0:48:46) Hear about the recent reviews we have received about the podcast. (0:57:58) We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15) Where David's passion for reading about founders originates from. (01:02:25) David shares details about his reading habits. (01:05:57) His approach to finding founders that he wants to read about. (01:08:49) David's approach to note taking while reading a book. (01:11:07) We learn about the stories that have impacted David the most. (01:13:53) He explains the benefits of reading a book for a second time. (01:17:11) Books about founders that he thinks everyone should read. (01:19:20) David's observation of the role of luck in a founder's success story. (01:23:19) Advice he has for people who want to read more. (01:29:33) Links From Today's Episode: AQR Capital Management — https://www.aqr.com/ BlackRock Asset Management — https://www.blackrock.com Bank of America — https://www.bankofamerica.com/ ‘The risk and return of venture capital' — https://www.sciencedirect.com/science/article/pii/S0304405X04001564 ‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short ‘Do Hedge Funds Hedge?' — https://jpm.pm-research.com/content/28/1/6.short ‘The Performance of Hedge Fund Performance Fees' — https://www.nber.org/papers/w27454 ‘Higher risk, lower returns: What hedge fund investors really earn' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X ‘Another Look at Private Real Estate Returns by Strategy' — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist 'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549 ‘Beliefs and the Disposition Effect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567 ‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627 S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/ Future Proof Conference — https://futureproof.advisorcircle.com/ Invest Like the Best Podcast — https://investlikethebest.libsyn.com/ David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/ David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor David Senra on Facebook — https://www.facebook.com/david.senra.1 The Founders Podcast — https://founders.simplecast.com/ A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695 Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/ Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/ A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/ Against the Odds — https://www.amazon.com/Against-Odds/ Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/ Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/ Ben on Twitter — https://twitter.com/benjaminwfelix Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
The Rational Reminder Podcast ✓ Claim Podcast Notes Takeaways Here is a summary breakdown of expected returns for alternative asset classes:Read the full notes @ podcastnotes.orgThe type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today's episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You'll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more. Key Points From This Episode: Outline of today's main topic: expected returns for alternative asset classes. (0:01:51) Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18) How to approach estimating the returns of private equity, specifically buyouts. (0:05:04) We unpack historical data regarding the returns of private equity. (0:07:35) Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35) The distribution of returns from venture capital based on the market numbers. (0:20:09) Learn what angel investing is and its associated returns. (0:20:54) What returns on angel investing are most dependent on and why. (0:22:21) The different types and the associated returns. (0:25:23) Hear about the fees associated with private credit. (0:27:42) We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29) A limiting factor on hedge funds: capacity constraints. (0:33:38) The takeaway regarding private real estate investments. (0:36:25) How private real estate is valued as an asset class. (0:37:48) Cryptocurrencies and the returns to be expected. (0:39:34) We discuss some of the key takeaways from today's main topic. (0:43:30) We follow up on a previous topic we covered: financial literacy. (0:45:10) Find out about an interesting conference that Cameron recently attended. (0:48:46) Hear about the recent reviews we have received about the podcast. (0:57:58) We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15) Where David's passion for reading about founders originates from. (01:02:25) David shares details about his reading habits. (01:05:57) His approach to finding founders that he wants to read about. (01:08:49) David's approach to note taking while reading a book. (01:11:07) We learn about the stories that have impacted David the most. (01:13:53) He explains the benefits of reading a book for a second time. (01:17:11) Books about founders that he thinks everyone should read. (01:19:20) David's observation of the role of luck in a founder's success story. (01:23:19) Advice he has for people who want to read more. (01:29:33) Links From Today's Episode: AQR Capital Management — https://www.aqr.com/ BlackRock Asset Management — https://www.blackrock.com Bank of America — https://www.bankofamerica.com/ ‘The risk and return of venture capital' — https://www.sciencedirect.com/science/article/pii/S0304405X04001564 ‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short ‘Do Hedge Funds Hedge?' — https://jpm.pm-research.com/content/28/1/6.short ‘The Performance of Hedge Fund Performance Fees' — https://www.nber.org/papers/w27454 ‘Higher risk, lower returns: What hedge fund investors really earn' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X ‘Another Look at Private Real Estate Returns by Strategy' — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist 'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549 ‘Beliefs and the Disposition Effect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567 ‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627 S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/ Future Proof Conference — https://futureproof.advisorcircle.com/ Invest Like the Best Podcast — https://investlikethebest.libsyn.com/ David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/ David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor David Senra on Facebook — https://www.facebook.com/david.senra.1 The Founders Podcast — https://founders.simplecast.com/ A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695 Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/ Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/ A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/ Against the Odds — https://www.amazon.com/Against-Odds/ Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/ Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/ Ben on Twitter — https://twitter.com/benjaminwfelix Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
The type of assets which usually come to mind when considering investments are stocks, bonds, or cash, but what are the alternatives? And what kind of returns do alternative asset classes offer? In today's episode, we delve into the returns which can be expected from alternative asset classes such as private equity, venture capital, angel investing, private credit, hedge funds, direct real estate, and cryptocurrencies. Hear an in-depth analysis based on empirical studies and the expertise of your hosts, Ben and Cameron, to discover whether there is any merit to alternative asset classes as investments. We unpack the extra layer of complexity associated with predicting returns on alternative assets, how to approach calculating returns, and why the associated fees are an essential consideration. We also hear details about an interesting conference Cameron recently attended and briefly recap cryptocurrencies as an investment. You'll also hear our conversation with our 22 in 22 reading challenge guest David Senra about his reading habits, the books that most inspire him, and his advice for people who want to read more. Key Points From This Episode: Outline of today's main topic: expected returns for alternative asset classes. (0:01:51) Why predicting returns of alternative asset classes has an extra layer of complexity. (0:03:18) How to approach estimating the returns of private equity, specifically buyouts. (0:05:04) We unpack historical data regarding the returns of private equity. (0:07:35) Calculating the returns on venture capital and reasons to be cautious about it as an asset class. (0:16:35) The distribution of returns from venture capital based on the market numbers. (0:20:09) Learn what angel investing is and its associated returns. (0:20:54) What returns on angel investing are most dependent on and why. (0:22:21) The different types and the associated returns. (0:25:23) Hear about the fees associated with private credit. (0:27:42) We unravel the concept of hedge funds, the associated fees, and expected returns. (0:29:29) A limiting factor on hedge funds: capacity constraints. (0:33:38) The takeaway regarding private real estate investments. (0:36:25) How private real estate is valued as an asset class. (0:37:48) Cryptocurrencies and the returns to be expected. (0:39:34) We discuss some of the key takeaways from today's main topic. (0:43:30) We follow up on a previous topic we covered: financial literacy. (0:45:10) Find out about an interesting conference that Cameron recently attended. (0:48:46) Hear about the recent reviews we have received about the podcast. (0:57:58) We introduce our 22 and 22 reading challenge guest, David Senra. (01:00:15) Where David's passion for reading about founders originates from. (01:02:25) David shares details about his reading habits. (01:05:57) His approach to finding founders that he wants to read about. (01:08:49) David's approach to note taking while reading a book. (01:11:07) We learn about the stories that have impacted David the most. (01:13:53) He explains the benefits of reading a book for a second time. (01:17:11) Books about founders that he thinks everyone should read. (01:19:20) David's observation of the role of luck in a founder's success story. (01:23:19) Advice he has for people who want to read more. (01:29:33) Links From Today's Episode: AQR Capital Management — https://www.aqr.com/ BlackRock Asset Management — https://www.blackrock.com Bank of America — https://www.bankofamerica.com/ ‘The risk and return of venture capital' — https://www.sciencedirect.com/science/article/pii/S0304405X04001564 ‘Performance of Private Credit Funds: A First Look' — https://jai.pm-research.com/content/21/2/31.short ‘Do Hedge Funds Hedge?' — https://jpm.pm-research.com/content/28/1/6.short ‘The Performance of Hedge Fund Performance Fees' — https://www.nber.org/papers/w27454 ‘Higher risk, lower returns: What hedge fund investors really earn' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X1100016X ‘Another Look at Private Real Estate Returns by Strategy' — https://jpm.pm-research.com/content/45/7/95/tab-pdf-trialist 'The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3501549 ‘Beliefs and the Disposition Effect' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3516567 ‘Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2506627 S&P Global FinLit Survey — https://gflec.org/initiatives/sp-global-finlit-survey/ Future Proof Conference — https://futureproof.advisorcircle.com/ Invest Like the Best Podcast — https://investlikethebest.libsyn.com/ David Senra on LinkedIn — https://www.linkedin.com/in/david-senra-278843236/ David Senra on Twitter — https://twitter.com/FoundersPodcast?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor David Senra on Facebook — https://www.facebook.com/david.senra.1 The Founders Podcast — https://founders.simplecast.com/ A Triumph of Genius — https://www.amazon.com/Triumph-Genius-Edwin-Polaroid-Patent/dp/1627227695 Cable Cowboy — https://www.amazon.com/Cable-Cowboy-Malone-Modern-Business/ Titan — https://www.amazon.com/Rare-Chernow-Titan-Life-Rockefeller/ A Man for All Markets — https://www.amazon.com/Man-All-Markets-Street-Dealer/ Against the Odds — https://www.amazon.com/Against-Odds/ Estee: A Success Story — https://www.amazon.com/Estee-Success-Story-Lauder/ Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/?hl=en Rational Reminder on YouTube — https://www.youtube.com/channel/ Ben Felix — https://www.pwlcapital.com/author/benjamin-felix/ Ben on Twitter — https://twitter.com/benjaminwfelix Ben on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Visit this link below (or use coupon code BAGEL) to get a free 7 day trial of Noa's premium subscription, plus 37% off the annual fee: https://www.newsoveraudio.com/subscribe?offerId=plain_bagel_offer_91lpv_afl&utm_medium=YouTube_Influencer&utm_source=TPB&utm_campaign=plain_bagel_offer_91lpv_afl&utm_content=BenFelix Ben's channel: https://www.youtube.com/c/BenFelixCSIRational Reminder Podcast: https://www.youtube.com/c/RATIONALREMINDERI had the privilege of speaking to Ben Felix, Ottawa-based PM and host of the Rational Reminder podcast and Common Sense Investing YouTube channel. We talked investing, market efficiency, and research around crypto.If you'd like to support the channel, you can do so at https://www.patreon.com/ThePlainBagel :) DISCLAIMER: This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The Plain Bagel, which is not affiliated with his employer).
Our guest on the podcast today is Tim Ranzetta. Tim is the co-founder of the nonprofit Next Gen Personal Finance, which provides free curricula, professional development, and advocacy tools to more than 40,000 teachers who reach 75% of high school students in the U.S. The goal of Next Gen Personal Finance and its community of teachers is for all high school students to take at least one stand-alone one-semester course focusing on personal finance by the end of 2030. Prior to founding NGPF, Tim co-founded several companies, including Equilar, a compensation and corporate governance research firm; and Student Lending Analytics, a student loan research firm. He began his career as a management consultant at Bain & Company. He graduated from the University of Virginia with a Bachelor of Science degree in commerce and received his MBA at the Stanford Graduate School of Business.BackgroundBioNext Gen Personal FinanceEastside College Preparatory SchoolWhat Works in Financial Education Interactive: The Financial Times' The Uber Game“Financial Education Affects Financial Knowledge and Downstream Behaviors,” by Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, and Carly J. Urban, National Bureau of Economic Research, April 2020.“Annamarie Lusardi: ‘Financial Education Works,' ” The Long View podcast, Morningstar.com, Feb. 19, 2020.Fidelity Youth AccountMillion Bazillion podcast “Bringing Personal Finance to the Classroom for Generation Z,” by Ann Carrns, nytimes.com, March 18, 2022.“The Truth About Day Trading,” by Ben Felix, YouTube.com, Oct. 24, 2020.The Stock Market GameSTAXfinviz.comThe State of Financial Education in the U.S.“NGPF's 2022 State of Financial Education Report,” ngpf.org, April 2022.Jump$tart Coalition for Personal Financial LiteracyCouncil for Economic Education“Financial Education Mandates 2022,” poll by National Endowment for Financial Education, nefe.org, March 17-21, 2022.“What I Learned Reading the State Auditor's Report About Financial Education in Utah,” by Tim Ranzetta, ngpf.org, Oct. 22, 2018.Mississippi Department of Education: National Board Certification—Master Teacher ProgramThe North Carolina Council on Economic EducationRhode Island Department of Education The Most Important Class You Never Had, NGPF documentary Other“Dan Otter and Scott Dauenhauer: Why Retirement Savings Options for Educators Are So Bad,” The Long View podcast, Morningstar.com, May 28, 2022.
Guests: Milla Craig, founder and president of Millani, and Ben Felix, head of research and client education at BWL Capital Today's episode looks at the financial performance of responsible investing. “Responsible Investing for a Sustainable Economy,” host Tim Nash starts with Milla Craig, the founder and president of Millani. Milla helps investors and companies understand how ESG risks and opportunities impact their bottom line. We also welcome Ben Felix, head of research and client education at PWL Capital and host of the “Rational Reminder” podcast. Ben talks about a few different reasons why responsible investments might have outperformed recently and cautions us that this might not always be the case. Host Tim Nash is the founder of Good Investing and has been a leader in responsible investing, impact investing, and the green economy for more than a decade.
IN THIS EPISODE YOU'LL LEARN:What a Portfolio Manager does.What "Common Sense Investing" is and which of these ideas are missing in mainstream thinking today.Why an investor may not want diversification.What the pros and cons of buying or renting a home are.What is the efficient market hypothesis.And much, much more!EPISODE RESOURCESGet a FREE audiobook from Audible.John Bogle's book The Little Book of Common Sense Investing.The Stock Market vs. The Economy video.Joel Greenblatt's book The Little Book That Still Beats the Market.Understanding the Fed's “Money Printer”.Guy Spier's book The Education of a Value Investor.What is compound interest and why is it so important?All of Robert's favorite books.Save with a credit union that helps you build financial confidence with Navy Federal Credit Union.Switch to Mint Mobile and get premium wireless service, starting at JUST $15 bucks a month, and get the plan shipped to your door for FREE.Make your home safe with Simplisafe and get 40% off today. Indoor and outdoor cameras, comprehensive sensors, you name it.Now, not only the wealthy can afford collectibles! Enter Otis, an investment platform that makes it possible for almost anyone to invest in shares of cultural assets. Sign up now at withotis.com/TIP to get your first share for FREE!Impress your audience and yourself. Enjoy presentations for free with Canva.Get daily content from Robert on Instagram @therobertleonardRead this episode's transcript and full show notes on TIP: theinvestorspodcast.com/millennial-investingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode I react to "Investing in Happiness" by Ben Felix, which serves as a great reminder to take a step back and reflect on what is truly important in life. Check out my course on personal finance and investing https://courses.remo.org/p/building-wealth (use code "TESLA50" for 50% off) For detailed show notes, check out the YouTube description to this video: https://youtu.be/sMXEqGkj-Wc Social: Blog: https://remo.org Twitter: https://twitter.com/remouherek I'm Remo Uherek, investor, writer, and former startup founder, based in Basel, Switzerland. Retired from startups after 15 years. Today, I'm a private investor, help to run a real estate portfolio and write about health, wealth, love, and happiness. I teach online courses and am obsessed with innovation, Tesla and Elon Musk. Please subscribe if you want to hear more episodes like this. (This episode was originally published on YouTube: https://youtu.be/sMXEqGkj-Wc) --- Send in a voice message: https://anchor.fm/remouherek/message
IN THIS EPISODE, YOU'LL LEARN: 3:13 - What a Roth IRA is and the contribution limits it has15:38 - What an endowment fund is, who David Swensen was, and what an endowment model is31:21 - Why chasing or copying money managers isn't a great strategy and why this typically doesn't end well for investors53:58 - What the potential pitfalls and dangers are of investing in high-dividend-yielding stocks 1:05:33 - What The Feynman Technique is, and how Ben personally learnsAnd much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more FREE content from RobertGet a FREE audiobook from AudibleRead the 9 Key Steps to Effective Personal Financial ManagementCheck out our Investing Starter Packs about business and financeBen Felix's Youtube account Common Sense InvestingBen Felix's Rational Reminder podcastTyler Cowen's podcast Conversations with TylerJohn Cochrane's podcast The Grumpy Economist MI054: Common Sense Investing w/ Ben Felix MI077: Warren Buffett Might Not Actually be the Greatest Investor of All-Time w/ Ben Felix REI081: Secret Accounts of the Wealthy, That You Can Use Too w/ Bill Neville (Part 1)REI082: Secret Accounts of the Wealthy, That You Can Use Too w/ Bill Neville (Part 2)Bloomberg article “Record Stock Sales from Money-Losing Firms Ring the Alarm Bells”David Swensen's book Unconventional SuccessDavid Swensen's book Pioneering Portfolio ManagementJohn Bogle's book The Little Book of Common Sense InvestingJoel Greenblatt's book The Little Book That Still Beats the MarketAll of Robert's favorite booksSupport our free podcast by supporting our sponsorsSave with a credit union that helps you build financial confidence with Navy Federal Credit UnionMake it simple to hire and manage remote employees across all 50 states with Justworks.Experience Manscaped's new Lawnmower 4.0 - the ultimate trimmer that provides intelligent functionality and incredibly comfortable grooming experience! Get 20% OFF and free shipping with the code MI.Start feeling better with a single message with Talkspace. Match with a licensed therapist and get $100 off your first month with the promo code MIGet your free copy of The Entrust Group's 5 steps to investing in real estate with a SDIRA today.Read this episode's transcript and full show notes on our website.Connect with Ben: Website | LinkedIn | FacebookConnect with Robert: Website | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
In this episode we answer questions from Falco, Tim, Jeff, Adam, Phil, "Steve" and Nick about building an intermediate-life risk parity portfolio, a Ben Felix allocation video, building up or selling into a risk parity portfolio, a 42.5/42.5/15 portfolio, figuring it out for a UK national in the Middle East, setting it up after moving from Africa, and a bond basics review. Whew!Link to Adam's 42.5/42.5/15 backtest analysis: Backtest Portfolio Asset Class Allocation (portfoliovisualizer.com)
In this episode we answer questions from Patrons Dominic and Jenny and Listeners #4593 and Phil about where to put your gold funds, making the transition to a risk-parity style portfolio, gold vs. bitcoin and a Ben Felix stock portfolio. Then we move to our weekly portfolio reviews of the sample portfolios you can find at The Risk Parity Radio Portfolios PageAdditional Links:The Lindy Effect: Lindy effect - WikipediaGold/Bitcoin Correlation Analysis: Asset Correlations (portfoliovisualizer.com)Mandelbrot Set Video: Eye of the Universe - Mandelbrot Fractal ZoomBen Felix Five Factor Investing Video: Five Factor Investing with ETFs - YouTubeBen Felix Five Factor Investing Paper: Five Factor Investing with ETFs | PWL CapitalRational Reminder Podcast with Paul Merriman: RR #147 - Paul Merriman: We're Talking Millions - YouTube
An introduction into Crunch Time and our sports talk. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
Welcome to Teeth & Titanium Episode 6! On this episode we cover a number of topics including: -Current Events -Financial Planning 101 with PWL Capital's Ben Felix -Journal Club on the management of transverse maxillary deficiencies! -Our viewing recommendations And more! Be sure to hit subscribe on your podcast app so you never miss an episode! Thanks to the CAOMS for their continued support. https://www.caoms.com If you would like to contact us, or would like to submit a topic for Resident Reminder or Journal club, please email us at: teethandtitaniumOMFS@gmail.com Article cited in this episode: 1) Rasmussen CM, Viozzi CF. A Decision Tree for Orthodontic and Surgical Management of the Maxillary Transverse Dimension in Orthognathic Surgery. J Oral Maxillofac Surg. 2020;78(8):1236-1238. doi:10.1016/j.joms.2020.02.029 Rational Reminder Podcast: https://rationalreminder.ca/podcast-directory Common Sense Investing Youtube Channel https://www.youtube.com/c/BenFelixCSI/videos Ben Felix PWL Capital https://www.pwlcapital.com/profile/benjamin-felix/ Hosted by Dr. Wendall Mascarenhas and Dr. Oscar Dalmao
Welcome to Teeth & Titanium Episode 5! On this episode we cover a number of topics including: -Current Events -Investing 101 with PWL Capital's Ben Felix -Resident Reminder on timing and management of cleft lip and palate patients -Our viewing recommendations And more! Be sure to hit subscribe on your podcast app so you never miss an episode! Thanks to the CAOMS for their continued support. https://www.caoms.com If you would like to contact us, or would like to submit a topic for Resident Reminder or Journal club, please email us at: teethandtitaniumOMFS@gmail.com Rational Reminder Podcast: https://rationalreminder.ca/podcast-directory Common Sense Investing Youtube Channel https://www.youtube.com/c/BenFelixCSI/videos Ben Felix PWL Capital https://www.pwlcapital.com/profile/benjamin-felix/ Hosted by Dr. Wendall Mascarenhas and Dr. Oscar Dalmao
Been mulling over what ratio my portfolio should be invested into a bond index, I'm currently using XSTB. Please feel free to ask questions and comment below, all feedback is welcome. You can also DM me on Patreon or email at partypooperpodcast@gmail.comYoutube video from Ben Felix on asset allocation I found interesting: https://youtu.be/7gkQHSW3hkE Get bonus content on Patreon See acast.com/privacy for privacy and opt-out information.
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