Podcasts about Compounding

This episode is actually a video over on YouTube, and it's much more fun to watch there because I'm making chicken salad while teaching you about goals (hence the chopping you'll hear if you listen to this instead of watch)

David reflects on how Community-Led Growth Conference 2 (CLG2) came together — from a spontaneous catch-up call with Ruthie Berber to Zach Hawtoff's immediate "let's do it" — and why he keeps coming back to the idea of compounding: building on projects, relationships, and momentum instead of starting from scratch each time. CLG2 happens October 2 in New York at Fabrik. More info at luma.com/clg2.

**I'm talking about one of the biggest mistakes I see independent pharmacy owners make: chasing 10% optimizations instead of 10X results. In this video, Dr. Lisa Faast explains why pharmacy owners should stop chasing small 10% improvements and start looking for opportunities that can create 10X results. From bookkeeping and vial costs to payroll, revenue opportunities, peptides, OTC, and compounding, Lisa shares how to identify the areas that have the potential to make the biggest financial impact on your pharmacy. This is my free coaching session to you: stop spending your limited time, money, and energy on micro-optimizations before you've tackled the big wins. If you want help figuring out what your 10X opportunities are, that's exactly what I do.** **Show Notes:** 1. **Introduction** [0:00] 2. **Optimizing Pharmacy Business** [0:10] 3. **When Good KPIs Become Emotional Distractions** [1:52] 4. ** Time vs Savings Analysis** [4:33] 5. ** The Importance of Prioritizing Optimizations** [5:41] 6. ** Peptides, Compounding, and New Revenue** [6:37] 7. ** The Role of Coaching and Training in Optimization** [7:53] 8. ** Focusing on Big Impact Areas** [8:08] 9. ** The Benefits of a Structured Approach to Optimization** [8:43] 10. ** The Role of Emotional Attachment in Optimization** [9:16] 11. **The Importance of Perspective in Optimization** [9:35] 12. **The Role of AI and Technology in Optimization** [9:48] 13. ** The Benefits of a Supportive Community** [10:01]   ----- #### **Becoming a Badass Pharmacy Owner Podcast is a Proud to be a part of the Pharmacy Podcast Network**

WATCH THE VIDEOWant to build a multi-million-dollar retirement portfolio without gambling on single stocks? This is the first session of the four-part series I recorded for the teachers of Next Gen Personal Finance — and I'm sharing it here with you. In it, I break down the timeless principles, the math and the market history every long-term investor needs to know.WHAT YOU'LL LEARN IN THIS EPISODE• The Math of Compounding [01:43] — how finding an extra 0.5% to 1% in returns — or starting just five years earlier — can add millions to your lifetime wealth.• The Power of Starting Early [09:48] — why your initial investment years build your foundation, and how both bull and bear markets work in favor of young, disciplined savers.• Budgeting Strategy [19:43] — applying the “Pay Yourself First” rule and the 50/30/20 framework to establish sustainable saving habits.• Stocks vs. Bonds [22:44] — understanding why stocks are low-risk for long-term growth, while bonds carry inflation risk over decades.• Market Diversification [30:08] — why 4% of companies generate nearly all stock-market gains, and how owning total-market index funds ensures you don't miss out on them.• Equity Asset Classes [37:59] — comparing large-cap blend, large-cap value, small-cap blend and small-cap value to reduce volatility and boost returns.• Target-Date Funds [49:38] — why automated, age-tailored allocation helps investors stay the course and avoid emotional mistakes.Tune in to discover how staying the course, keeping expenses low, and letting history guide your strategy can transform your financial future.Join us next week for The #1 Reason to Invest in Index Funds.

This episode's Community Champion Sponsor is Ossur. To learn more about their ‘Responsible for Tomorrow' Sustainability Campaign, and how you can get involved: CLICK HEREEpisode Overview: Breakthroughs in drug discovery don't come from any single discipline. They come from the rare few who have built deep expertise across multiple domains and know how to bring those layers together. Tara Austraat-Churik is doing exactly that as Partner at Blue Matter, where she leads the firm's first R&D practice at the intersection of drug discovery, clinical development, and AI-driven transformation. With a career spanning government intelligence, pharmacovigilance, IBM Watson Health, and Ernst Young, Tara has developed what she calls Compound Expertise, depth earned repeatedly across fields that compounds into judgment no single path can produce. Join us to discover how she and the Blue Matter team are helping biopharma organizations reimagine the future of R&D, navigate the AI transformation ahead, and keep the patient at the center of it all. Let's go!Episode Highlights:Tara's "compound expertise" across government intelligence, IBM, EY, and pharma fuels her unique R&D consulting approach.Blue Matter's R&D practice is built on scientific depth, AI-driven tools, and ecosystem partnerships, not generic consulting frameworks.Tara predicts R&D workforces will shrink in headcount but grow in capability, with leaders managing both humans and AI agents.The biggest AI transformation mistake: treating it as a technology problem rather than a decision-making transformation.True client partnership happens when clients call for off-scope advice, trusting your judgment beyond any formal deliverable.About our Guest: Tara Austraat-Churik is a Partner at Blue Matter, where she leads the firm's R&D practice at the intersection of drug discovery, clinical development, and AI-driven transformation.Over a twenty-plus year career, she has built expertise across government intelligence, drug safety, enterprise technology, and life sciences — serving in roles including Acting General Manager of a $6 billion IBM consulting division and Managing Director of Health, Science, and Wellness at EY. She holds an MSc in Translational Medicine from the University of Edinburgh.Tara's work is guided by what she calls Compound Expertise: depth earned repeatedly across domains, compounding into the kind of judgment no single discipline can provide. She believes the most meaningful breakthroughs happen at the intersection of fields — and that each one represents a life that might be changed.Links Supporting This Episode: Blue Matter page: CLICK HERETara Austraat-Churik LinkedIn page: CLICK HEREBlue Matter LinkedIn page: CLICK HEREMike Biselli LinkedIn page: CLICK HEREMike Biselli Twitter page: CLICK HEREVisit our website: CLICK HERESubscribe to newsletter: CLICK HEREGuest nomination form: CLICK HERE

In this episode of Tank Talks, host Matt Cohen sits down with Chris Pronger, Hockey Hall of Famer, Norris and Hart Trophy winner, Stanley Cup champion, two-time Olympic gold medalist, and one of the NHL's 100 greatest players. Chris takes us inside the mindset that transformed him from a booed 21-year-old in St. Louis into one of the most dominant defensemen of his generation.They break down what it really takes to bet on yourself, why delayed gratification is the secret to sustained excellence, and how Chris rebuilt his entire training protocol from the studs after already being nominated for a Norris Trophy. Chris opens up about the early-career failures that forced him to look in the mirror, the veterans who shaped him, from Brad McCrimmon to Wayne Gretzky and Al MacInnis, and the 4-pound muscle between his ears that changed everything.He also shares hard-won lessons on leadership, managing teammates with different personalities, the importance of culture in championship runs, and why the best leaders lead by example, not just by talking. From the 2007 Stanley Cup run with Anaheim to the scary commotio cordis incident in 1998 and the eye injury that ultimately ended his career, Chris delivers a raw, unfiltered look at the true cost of greatness.Whether you're an athlete, a founder, a leader, or simply someone trying to earn your way forward, Chris offers practical wisdom on resilience, identity, and the art of controlling what you can control.A big thanks to our sponsor, Moomoo CanadaThis is the kind of tooling that used to live on a Bloomberg terminal, but now it is on your phone, just a few taps away. They offer real-time data, full options chains, and an AI assistant that actually explains trading strategies.Moomoo is the perfect place for people who want to take their money seriously. Open an account today at moomoo.caWhy Multi-Sport Athletes Have an Edge (04:33)* The physical and mental benefits of playing multiple sports* Proprioception, hand-eye coordination, and learning how to learn* Why parents are stealing their kids' childhoods with early specialization* The truth about peewee superstars: 99 out of 100 aren't the best at 18The Veterans Who Shaped a Hall of Famer (07:28)* Brad McCrimmon as a mentor and “woobie” in Hartford* Learning consistency, preparation, and professionalism from the ground up* Walking into a locker room with Gretzky, Hull, MacInnis, and Fuhr* Watching how the greats handle media, scrutiny, and the grindGetting Booed, Hitting Rock Bottom, and the Aha Moment (10:33)* Being traded for Brendan Shanahan and getting booed relentlessly in St. Louis* The dark hole of not being prepared and the wake-up call that changed everything* Why Gretzky's arrival was a blessing that took the spotlight off him* The summer that launched his ascent: training, preparation, and the 4-pound muscleThe Magical 1999-2000 Season (13:27)* Winning the Hart and Norris in the same year, first defenseman since Bobby Orr* Staying healthy through proper training and offseason dedication* How Al MacInnis' injury forced him to carry more weight* The magical regular season that fell apart in the playoffsDelayed Gratification and the 2007 Stanley Cup Win (16:15)* Compounding summers of training with Charles Poliquin* Scrapping his entire training protocol after a Norris nomination* Getting twice as strong in one summer and feeling the difference on the ice* Winning the Cup with Anaheim, and why the mission was winning for everyone elseOutlasting Opponents and Battling Peter Forsberg (19:46)* Taking pride in being the best-conditioned athlete on the ice* The battle of attrition and grinding guys down* Why Forsberg was one of the toughest players he ever faced* The physical toll of playing a heavy gameLeading by Example vs. Talking About Standards (24:01)* Holding teammates to a high standard, and showing them why* Why teammates need to see your work ethic every single day* Managing different personalities and knowing how to reach each player* The evolving nature of culture in a locker roomThe 2007 Ducks Run and Championship Culture (29:46)* A veteran core with different leadership styles: Scotty Niedermayer, Teemu Selanne, Rob Niedermayer* The self-policing group that didn't need one person grinding all the time* Winning for Teemu, winning for Jiggy, winning for each otherThe Heart-Stopping Incident and Ripping the Band-Aid Off (32:05)* Blocking a shot that hit him in the heart, commotio cordis* Stopping breathing for 25-30 seconds and the surreal aftermath* Playing two days later to avoid the stigma and the questions* Comparing his experience to Damar Hamlin'sThe Eye Injury, Losing His Sixth Sense, and Forced Retirement (37:45)* The stick to the eye that ended his career* Losing the spatial awareness that made him elite* Watching the game from the outside and realizing at 40 it was too fast* Evolving from “what if I was playing” to “how can I help players get better?”Controlling What You Can Control (44:24)* Learning to park the game at the door and not stew on mistakes* The maturity to separate performance from identity* Sleeping better, recovering faster, and playing longerThe Year Off and Avoiding Post-Career Pitfalls (46:42)* The best advice he ever received: take meetings, listen, wait a year* Retraining his eye and healing his head for 18 months* Why jumping into the next thing too fast is a trapInvestment Mistakes and Lessons Learned (51:03)* Prioritizing people over the deal itself* The red flags, last-minute asks, rushed timelines, and fine print* Sleeping on every decision and never committing on the spotWriting Earned and Taking Off the Armor (54:17)* The hardest truths to put on the page* Why hockey stories alone weren't enough: mistakes, growth, and evolution* The message that everything in life is earned, no shortcuts, no handoutsParenting, Legacy, and the No-”What-If” Rule (57:21)* No what-if games in the Pronger household* You can't cherry-pick moments; everything changes with every fork in the road* No rearview mirrors, learn, grow, evolve, and keep moving forwardAbout Chris ProngerChris Pronger is a Hockey Hall of Famer, Norris Trophy winner, Hart Trophy winner, Stanley Cup champion, and two-time Olympic gold medalist. Over a 20-year NHL career, he played for the Hartford Whalers, St. Louis Blues, Edmonton Oilers, Anaheim Ducks, and Philadelphia Flyers. Known for his physical dominance, elite hockey sense, and relentless conditioning, Pronger was named one of the NHL's 100 greatest players. Since retiring, he has focused on his family, his wife Lauren's luxury travel company, Inspired Travels, and sharing the hard-earned lessons of his career through his 2026 book, Earned: The True Cost of Greatness from One of Hockey's Fiercest Competitors.Connect with Chris Pronger: https://www.linkedin.com/in/chrisprongerBuy Earned: https://www.amazon.com/Earned-Greatness-Hockeys-Fiercest-CompetitorsConnect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1Visit the Ripple Ventures website: https://www.rippleventures.com/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

The conversation delves into the distinction between income and assets, emphasizing the importance of converting earned income into productive assets for long-term wealth. It then explores the wealth-building potential of index funds and real estate, highlighting their historical significance and practical entry points. The discussion concludes with a focus on the power of compounding and the critical role of time in wealth building.TakeawaysConverting earned income into productive assets is essential for long-term wealth.Index funds and real estate are accessible wealth-building vehicles with historical significance.The power of compounding and the role of time are crucial in wealth building.Chapters00:00 Income vs. Assets03:21 Index Funds: The Wealth Building Vehicle09:36 Real Estate: A Wealth-Building Mechanism13:59 The Power of Compounding

பணம் சம்பாதிப்பது மட்டும் Financial Success அல்ல.பணத்தைப் பற்றி நாம் எப்படி THINK செய்கிறோம் என்பதுதான் நம்முடைய financial life-ஐ தீர்மானிக்கிறது.Morgan Housel எழுதிய The Psychology of Money புத்தகம், Money என்பது வெறும் numbers, salary, savings அல்லது investment பற்றியது மட்டும் அல்ல என்று சொல்கிறது.அது நம்முடைய Behaviour, Fear, Ego, Luck, Risk, Comparison மற்றும் Choices பற்றியது.இந்த video-வில் நாம் பார்க்கப்போவது:• ஏன் இரண்டு மனிதர்கள் ஒரே income இருந்தாலும் completely different financial life வாழ்கிறார்கள்?• Financial success-ல் Luck & Risk எவ்வளவு முக்கியம்?• ஏன் எவ்வளவு money வந்தாலும் “Enough” என்று feel செய்ய முடியாமல் போகிறது?• Looking Rich மற்றும் Being Wealthy இரண்டுக்கும் என்ன difference?• Saving எப்படி money-ஐ விட Freedom & Choices கொடுக்கிறது?• Market volatility ஏன் investing-ன் ஒரு fee?• Getting Rich மற்றும் Staying Rich ஏன் different skills?• Compounding-ல் return-ஐ விட Time ஏன் powerful?• Money நமக்கு கொடுக்கக்கூடிய மிகப்பெரிய reward ஏன் Freedom?இந்த video stock tips பற்றியது அல்ல.Quick-rich formula பற்றியும் அல்ல.இது…Money-யுடன் நம்முடைய relationship-ஐ புரிந்துகொள்வது பற்றியது.Because ultimately,Money ஒரு scoreboard அல்ல.Money ஒரு tool.அந்த tool-ன் மிகப்பெரிய purpose…நாம் உண்மையில் வாழ விரும்பும் வாழ்க்கையை choose செய்யும் freedom.00:00 – Introduction03:06 – Chapter 1 – No One Is Crazy09:53 – Chapter 2 – Luck & Risk13:17 – Chapter 3 – Never Enough17:41 – Chapter 4 – Confounding Compounding21:18 – Chapter 5 – Wealth Is What You Don't See25:31 – Chapter 6 – Getting Rich vs Staying Rich28:30 – Chapter 7 – Money's Greatest Reward: Freedom31:42 – Conclusion

In this episode of the Gladden Longevity Podcast, Dr. Gladden hosts Joshua Fritzler, President of Olympia Pharmaceuticals, and Nicole Snow to discuss the intricacies of compounding pharmacies, focusing on the differences between 503A and 503B pharmacies, the role of compounding in personalized medicine, and the current landscape of peptides and FDA oversight. The conversation highlights the importance of safety, regulation, and quality assurance in compounded medications, providing listeners with a comprehensive understanding of how these pharmacies operate and their significance in modern healthcare.   For Audience Join the other 20,000+ high-performers getting weekly insights on biological reversal, exponential strategies, and Life Energy optimization→ https://start.gladdenlongevity.com/subscribe If you're ready to measure your 60+ biological ages and build a personalized reversal plan, apply for a discovery call here → https://start.gladdenlongevity.com/apply-now   Use code 'Podcast10' to get 10% OFF on any of our supplements at https://gladdenlongevityshop.com/!    Takeaways ·       Compounding pharmacies create personalized medications not commercially available. ·       503A pharmacies serve individual patients with specific prescriptions. ·       503B pharmacies produce larger batches for clinics and have stricter regulations. ·       Compounded medications can be tailored to avoid allergens or intolerances. ·       FDA does not approve compounded medications, but regulates the pharmacies. ·       Safety profiles of compounded medications are generally high when produced correctly. ·       Patients can request specific formulations that are not available commercially. ·       Compounding pharmacies must comply with state and federal regulations. ·       Quality assurance is critical in compounding, including testing for potency. ·       Understanding the differences between compounding pharmacies is essential for patients.   Chapters 00:00 Introduction to Compounding Pharmacies 02:55 Understanding 503A and 503B Pharmacies 05:56 The Role of Compounding in Personalized Medicine 08:52 Safety and Regulation of Compounded Medications 11:54 Differences Between 503A and 503B Pharmacies 14:52 Navigating Prescription and State Regulations 17:50 The Current Landscape of Peptides and FDA Oversight 24:03 Quality Assurance in Compounding Pharmacies 27:55 Conclusion and Future Directions 55:52 A Call for a Manhattan Project in Chronic Disease Research To learn more about Joshua: Email: olympia@moburst.com Website: http://olympiapharmacy.com LinkedIn: https://www.linkedin.com/in/joshuafritzler/   Reach out to us at:    Website: https://gladdenlongevity.com/     Facebook: https://www.facebook.com/Gladdenlongevity/    Instagram: https://www.instagram.com/gladdenlongevity/?hl=en     LinkedIn: https://www.linkedin.com/company/gladdenlongevity    YouTube: https://www.youtube.com/channel/UC5_q8nexY4K5ilgFnKm7naw    

David Booth is the founder and chairman of Dimensional Fund Advisors, one of the most influential investment firms in the world, managing more than $1 trillion in assets. Earlier in his career, David helped develop one of the world's first index funds and spent decades applying academic financial research—including ideas developed by his mentor, Nobel laureate Eugene Fama—to real-world investing. David is also a proud University of Kansas alum, earning degrees in economics and business from KU before earning his MBA from the University of Chicago. And his philanthropy has been extraordinary: the University of Chicago's Booth School of Business bears his name, as does David Booth Kansas Memorial Stadium. In 2010, David and his wife Suzanne purchased James Naismith's original rules of basketball for $4.3 million and brought them home to KU—the story featured in my favorite documentary of all time ESPN's 30 for 30: There's No Place Like Home. In 2025, David made an additional $300 million gift to Kansas Athletics, continuing his remarkable support of KU. And most recently David wrote a book titled, Stay Calm: Learn to Embrace Uncertainty in Investing and Life. In this episode we discuss the following: When David found $15,000 in cash in his late parents' safe-deposit box, he wondered what it might have become had they invested it in the public markets instead. He calculated that if his father had invested the money after returning from World War II and simply earned the market return, it would have grown to more than $1 million over the next 40 years. That's the magic of compounding, and I love David's bigger point that our lives compound as well, from the things we learn, to the decisions we make, and the relationships we build. I love David's explanation for why he's optimistic about markets: people want to make their lives better. When something goes wrong, people adapt. They solve problems. They invent things. Companies find new ways to serve customers. And over time, that human ingenuity gets reflected in the market. As a stressed-out PhD student at the University of Chicago, David visited his grandparents, who lived in a tiny home that didn't even have indoor plumbing. Yet he looked around at his family laughing and enjoying themselves and thought: Maybe they've figured out something about life that I haven't. That realization helped him choose the career path that fit what he actually valued. Invest early, stay invested, and make sure you're invested in the right things. 

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Last time we spoke about the reaction after the surprise attack on Pearl Harbor. After four years of fighting Japan almost alone, China's Chiang Kai-shek learned of Pearl Harbor with profound relief. Japan's attack, meant to neutralize American naval power, instead galvanized the entire Western world against Tokyo. Within hours, Chiang declared war on the Axis powers, transforming China from an isolated nation to a recognized Allied member. The strategic mathematics were clear to Chiang: America's industrial might would ultimately crush Japan. China simply needed to survive long enough. The United States quickly formalized this partnership, pledging military support through Lend-Lease and elevating Chiang to leadership of Allied forces in the China theater. Yet Pearl Harbor brought catastrophe for Western civilians in China. Americans and Britons, previously protected as neutral foreigners, were suddenly rounded up and interned in camps. For many, decades of presence in China ended in hasty evacuation, leaving behind lives built over generations.   #216 The Battle of Hong Kong Part 1: The Approaching Storm Welcome to the Fall and Rise of China Podcast, I am your dutiful host Craig Watson. But, before we start I want to also remind you this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Perhaps you want to learn more about the history of Asia? Kings and Generals have an assortment of episodes on history of asia and much more  so go give them a look over on Youtube. So please subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry for some more history related content, over on my channel, the Pacific War Channel where I cover the history of China and Japan from the 19th century until the end of the Pacific War. Japan emerged as a significant threat to British interests during the 1920s following the collapse of the Anglo-Japanese Alliance. This concern intensified dramatically after Japan's invasion of China, with the ensuing Sino-Japanese War escalating tensions further. British assets in the region came under direct assault, including attacks on Western military and commercial vessels such as HMS Ladybird. Yet despite these provocations, the British Government maintained an inconsistent stance toward Japan, responding with only feeble diplomatic and military countermeasures. This contradiction characterized London's approach: while diplomatic channels remained conciliatory, military planners viewed Japan with genuine apprehension. During the 1930s, Singapore and Malaya represented Britain's most valuable and prosperous holdings in the Far East and consequently received substantial garrison reinforcements. By contrast, Hong Kong was widely acknowledged to be indefensible—a conclusion reached repeatedly by successive military studies. Despite this consensus, the British Government proceeded with the Hong Kong Defence Scheme in 1936, which aimed to transform Hong Kong Island into a fortified redoubt while establishing delaying positions in Kowloon and the New Territories. The Hong Kong Garrison's mandate was straightforward: repel external attacks and prevent enemy use of the harbour and dry dock. The underlying strategy relied on a simple principle: hold Hong Kong Island as an impregnable fortress and await relief from the Royal Navy. Consequently, protecting the harbour became the paramount objective. Japanese strategists were correctly identified as Hong Kong's primary threat, with military planners anticipating attack from the sea rather than overland. To counter such an offensive, the defence scheme incorporated five successive layers of protection: naval mines fitted with indicator nets and anti-submarine booms formed the first barrier; coastal artillery provided the second; beach installations featuring pillboxes, wire entanglements and mines constituted the third; infantry strongpoints positioned on commanding heights guarded against amphibious landings; and finally, a mobile reserve force stood ready to counterattack and eliminate any successful enemy incursion. The 1936 plan also mandated extensive fortification of Kowloon's bottleneck approaches through bunkers, trenches and blocked passages, with a principal defensive line—resembling a miniature Maginot Line—constructed across the mountains immediately north of Kowloon. The garrison structure comprised three infantry battalions plus the Hong Kong Volunteer Defence Corps (HKVDC), a unit approximately regiment-strength equipped with armoured cars, engineers, artillery, anti-aircraft guns and infantry. These forces organized into three brigades: mainland, island, and garrison reserve. The air component was planned to be formidable: a reconnaissance squadron, a fighter-bomber squadron, two torpedo squadrons and a flight of auxiliary spotting aircraft operated by the HKVDC. Naval forces consisted of a modest destroyer contingent, an MTB flotilla, gunboats and patrol vessels. When Japan occupied Guangzhou, Hong Kong found itself effectively encircled. In response, limited conscription was implemented, though restricted to non-Chinese males for HKVDC service. Chinese personnel were largely confined to non-combat positions such as air-raid precautions and medical duties. The expanding Japanese threat prompted a substantial expansion of the Hong Kong Garrison to four regular infantry regiments—two British units (one specializing in medium machine-gun support) and two Indian regiments. Supporting forces included two coastal artillery regiments, a field artillery regiment-plus, and an anti-aircraft regiment. The Royal Navy expanded to include the 2nd MTB flotilla (eight 60-foot, 29-knot motor torpedo boats armed with twin torpedoes and eight Lewis guns each, plus two smaller 55-foot vessels), four shallow-draught river gunboats (HMS Cicala, Tern, Moth and Robin), four aging World War I S-class destroyers (HMS Thracian, Thanet, Scout and Tenedos—the last transferred to Singapore in 1939), HMS Cornflower sloop, and various auxiliary vessels including tugs, boom defence ships and minelayers. The Fleet Air Arm deployed three Supermarine Walruses—single-engine reconnaissance amphibians—at Kai Tak Airport. The Royal Air Force remained the weakest service, equipped with only four Vickers Wildebeest torpedo-bombers and a handful of HKVDC aircraft: one Avro Tutor, two Hornet Moths and two Cadet biplanes. When World War II erupted in Europe, Britain's focus necessarily shifted to national survival, inevitably leaving distant imperial outposts like Hong Kong neglected. Rather than receive reinforcements, Hong Kong actually lost capable personnel; many veteran troops were repatriated to Europe, leaving behind a less proficient garrison. Peacetime duties had proven a poor preparation for combat—officers and men had passed their time socializing rather than maintaining combat readiness. Governor Sir Geoffrey Northcote persistently urged London to adopt a firmer stance against relentless Japanese provocations: aircraft incursions, sinking of junks and fishing vessels, and infiltration by Taiwanese fifth columnists (Japan had colonized Taiwan in 1895). Recognizing the hopelessness of his position, Northcote recommended withdrawal in October 1940, arguing that defending the colony would inevitably result in mass civilian casualties and widespread destruction—a pragmatic assessment given Hong Kong's indefensible state. London categorically rejected this proposal, reasoning that withdrawal would demoralize China, embolden Japan and undermine American confidence in British resolve. Underlying this decision was an additional consideration: the long-standing dispute over Hong Kong's sovereignty. Since Britain acquired Hong Kong in 1841, the prospect of surrendering it, even temporarily, raised fears about reclaiming it afterward. Preserving the appearance of British determination was deemed crucial to demonstrating to Chiang Kai-shek, Nationalist China's leader, that Britain intended to retain the territory. Despite these political calculations, London consistently refused fresh troop deployments. Major-General A. E. Grasett, the China theatre commander, requested reinforcements only to face rejection—London offered only Indian or other colonial forces. Air Chief Marshal Sir Robert Brooke-Popham, appointed British commander in the Far East in 1941, likewise pressed for garrison strengthening, to no avail. The situation shifted dramatically after Grasett, a retired Canadian who had recently left his China post, travelled to Britain via Canada. Upon arriving in Canada, he independently approached his former classmate Major-General Crerar, Chief of the Canadian General Staff, and advocated for reinforcement. Grasett argued persuasively that deploying two or more additional battalions would enable the Hong Kong garrison to withstand an extended siege. When Grasett reached London in early September 1941, he presented this case directly to the British Chiefs of Staff, simultaneously proposing that Canada could provide the extra units. His arguments proved persuasive; the Chiefs of Staff altered course and convinced a reluctant Churchill to reconsider. In light of accelerating Japanese pressure, Britain substantially enlarged the Malaysia/Singapore garrison from nine to 32 battalions and despatched two capital ships—HMS Prince of Wales and Repulse—to the region, reasoning that this show of force would deter Japanese aggression against British Far Eastern interests, including Hong Kong. The original defence strategy envisaged holding Hong Kong Island exclusively while denying the harbour to attackers. A single battalion (the Punjabis) would execute delaying actions across the New Territories, followed by a three-battalion defensive stand on the Gin Drinkers Line. This brief mainland resistance would allow time for demolishing stores, power installations, docks and wharves, clearing food stocks and removing vital matériel before withdrawing to Hong Kong Island for a protracted resistance awaiting relief from Singapore or American forces from the Philippines. The Gin Drinkers Line—styled after the French Maginot Line in miniature—ran approximately 18 kilometres south of the Sino-Hong Kong border. Beginning near Gin Drinkers Bay west of Kowloon, it extended 17 kilometres across the Kowloon Peninsula hills toward its eastern extremity. The strategic expectation was that this line would delay the Japanese assault for three weeks or longer, permitting battalion withdrawal to Hong Kong Island for sustained resistance while mainland forces completed evacuation procedures. The 1937 war plan stipulated that four battalions would be necessary for an effective delaying action and seven for an adequate Gin Drinkers Line defence—figures which excluded the aircraft and naval support essential to success. With only a single army brigade available and virtually no air capability, planners abandoned the mainland defence concept, leaving defensive works incomplete and deteriorating under tropical conditions. Chinese personnel were conspicuously absent from initial war preparations and strategic planning, only being incorporated late in the process. The largest Chinese component was the volunteer contingent serving with the HKVDC. On the regular army side, approximately 150 Chinese recruits were enlisted in mid-1941 for the 5th Anti-Aircraft Regiment. The Hong Kong Chinese Regiment, hastily constituted on 3 November 1941, comprised officers borrowed from British and Indian units alongside 52 Chinese junior NCOs and other ranks with minimal training. A Royal Engineers troop staffed entirely by Chinese soldiers saw service, and some Chinese personnel served with the Royal Navy and Dockyard Defence Corps. Chinese participation increased substantially in auxiliary services—air-raid precautions, auxiliary police, nursing, St John Ambulance and fire brigades. This reluctance to fully integrate Chinese forces likely reflected prevailing attitudes of the era. Pre-war British propaganda had frequently mocked Japanese military capability, portraying officers and soldiers as myopic and incompetent. Japanese combat prowess was systematically underestimated; their victories in China were attributed to facing inferior opposition rather than evidence of genuine military strength. Japanese weaponry was dismissed as inferior to European standards. Consequently, British confidence remained high that the colony could hold indefinitely if adequately reinforced. In September 1941, Hong Kong received heartening news: two additional Canadian battalions would be deployed to the garrison. Brigadier John Maltby promptly revived the pre-war plan for defending the Gin Drinkers Line, developing a strategy centred on three mainland battalions (2nd Royal Scots, 5/7 Rajputs and 2/14 Punjab) supported by HKVDC elements and four artillery troop detachments, while three island battalions (1st Middlesex, Royal Rifles of Canada and Winnipeg Grenadiers) bolstered by the bulk of the HKVDC would hold Hong Kong Island. Command responsibility was divided between two brigades: the Island Brigade (Hong Kong Infantry Brigade) under Brigadier Lawson, a recently arrived Canadian, and the mainland Kowloon Infantry Brigade under Brigadier Wallis. The Canadian regiments arrived on 16 November 1941. Maltby was commissioned into the Indian Army in 1911, and  saw extensive service across multiple campaigns: World War I, the Persian Gulf (1913–14), and the North-West Frontier (1923–24). His early promise earned him selection for accelerated advancement through prestigious staff colleges at Quetta and RAF Andover. By 1937, he was again serving on the North-West Frontier, and by 1939 commanded both the 3rd Jhelum Brigade (later the Calcutta Brigade) and the 19th Infantry Brigade in Deccan. In 1940, posted to China, Maltby orchestrated the closure of the North China Command by withdrawing two infantry battalions from Shanghai. Promoted to major-general as GOC China in August 1941, he had only three months to prepare the colony's defenses, a race against time he could not win.  The Gin Drinkers Line occupied a naturally dominant position atop mountains spanning northern Kowloon's breadth, yet possessed inherent weaknesses that would prove fatal. The line lacked defensive depth and remained vulnerable to flanking manoeuvres, with two sectors representing particular danger: Customs Pass and the gap between Golden Hill and Laichikok Peninsula near Gin Drinkers Bay. Given the extended front, each battalion arranged its forces in a string of platoon positions with gaps covered by daytime fire and nighttime patrols. One company per battalion could be held in reserve within prepared positions guarding the most dangerous sectors. The reserve company of the centre battalion (2/14 Punjab) initially advanced as forward troops, screening demolition operations and delaying the enemy's initial thrust. The hasty decision to establish mainland defences meant that essential support systems—communication networks, artillery registrations, mortar calibrations—remained incomplete when combat commenced. Ammunition shortages compounded the problem. For instance, the 2/14 Punjab conducted only a single 3-inch mortar practice session before the attack; adequate ammunition arrived only in November and totalled a mere 70 rounds per battalion for both training and combat. These mortars were registered for the first time in their battle positions, with combat beginning just 12 hours later. The 2-inch mortar situation was even more desperate: troops received live ammunition only as fighting started, making their baptism of fire an actual combat situation. Transportation deficiencies—trucks and animals in short supply—forced manual ammunition transport across Hong Kong's challenging terrain, imposing severe physical demands on already stretched personnel.   On 6 November 1941, Imperial Japanese Headquarters ordered its Commander-in-Chief in China to prepare plans for capturing Hong Kong. The 23rd Army, part of the China Southern Expeditionary Army Group and commanded by Lt. Gen. Sakai Takashi with Maj. Gen. Kuribayashi Tadamichi serving as Chief of Staff, would form the invasion's backbone. All preparations were to be completed by the end of November 1941. The operation, designated 'Operation C', sought to 'seize Hong Kong within ten days'. Takahashi was the son of a factory worker, and rose through the ranks to become a veteran of China campaigns. He was tasked with capturing Hong Kong using the 38th Division normally assigned to the Southern Expeditionary Army Group. Despite setbacks and humiliation over requests for additional resources—particularly following intelligence reports of tanks (actually Bren carriers) in Hong Kong—Sakai remained determined to succeed. He served as Governor of Hong Kong from 26 December 1941 to 20 February 1942. Kuribayashi, best remembered as the Japanese commander at Iwo Jima, graduated from the Army Academy in 1914 specializing in cavalry. He served as deputy military attaché to Washington and Canada and studied at Harvard University. In December 1941, he held the position of Chief of Staff to the 23rd Army during the Hong Kong operation. Operation C followed a straightforward strategic framework. A blocking force would prevent Chinese interference from the rear, while the main invasion force would spearhead the assault. The 23rd Army, comprising four divisions plus a mixed brigade and two infantry regiments, received the assignment to attack Hong Kong. Of these four divisions, only the 38th played a substantive role in the invasion itself. The attack employed a combined-arms approach. Naval forces would establish a blockade and deliver bombardment while aircraft targeted key installations. Ground forces from the 38th Division—specifically the 228th, 229th, and 230th Regiments—would execute the land invasion using a three-pronged strategy. The right column would sweep westward in a wide arc, clearing Castle Peak Road and targeting the western flank of the Gin Drinkers Line near Laichikok Peninsula. The centre force would press directly through the line's middle, while the left column would cross Tidal Cove (Tolo Harbour) toward Kai Tak Airport and eastward toward Devil Peak, a crucial defensive position. The objective was to annihilate British forces on the mainland and compel Hong Kong's surrender through sustained bombardment. Should British forces resist, the island phase of the campaign would commence. Securing the rear against the Chinese National Army of the 7th Military District and Communist guerrillas fell to the 66th Regiment, normally part of the 51st Division but attached to the 38th for this operation. The 66th would simultaneously occupy and secure rear areas throughout the New Territories and Kowloon while the three assault regiments engaged the main defensive forces. This rearguard operation was organised into columns named after their commanding officers: Kitazawa, Kobayashi, Sato, and Araki. The Japanese selected the narrowest approach between Kowloon and Hong Kong Island, targeting the eastern coast near Lyemun Passage where only 410 metres of water separated the mainland from the island. Upon landing, forces would rapidly advance inland to seize the critical junction of Wongneichong Gap, then pivot westward and southward to capture Victoria City and the remainder of Hong Kong. The naval contingent divided into two groups: the Bombardment Group and the Attack Group. Approximately 300 personnel from the Special Naval Landing Force (SNLF) were attached to the invasion force. Air support came from the First Air Brigade under Col. Habu Hideharu, which contributed 56 light bombers and fighters. Their mission was to neutralise the Royal Air Force and Royal Navy, thereby securing aerial and maritime superiority for the ground campaign.   On the eve of war, the British garrison numbered 13,981 all ranks, including nursing staff and St John Ambulance personnel. Of these, 8,919 were British and Canadian, with 4,402 Indian and Chinese. The core infantry force comprised 5,422 regular soldiers, complemented by approximately 6,000 additional personnel across artillery, engineering, naval, and Hong Kong Volunteer Defence Corps (HKVDC) units. By 1941, the Royal Navy had become a shadow of its former self as the once-dominant China Squadron. Of the three World War I destroyers present on 8 December, two had been sent to Singapore—the third undergoing repairs—by 1930. This redeployment stemmed partly from the futility of defending the colony and partly from a commitment by senior US Navy officers: Britain would reinforce Singapore with Hong Kong's fleet in exchange for four American destroyers at Singapore. This American guarantee, however, never materialized. The defensive infrastructure focused primarily on countering a seaborne attack: twenty-nine coastal guns (9.2in., 6in., 4.7in., and 4in. calibres), ten 18- and 2-pounder beach defense guns, and twenty-eight field guns (60-pounder, 6in., 4.5in., and 3.7in. calibres). The Hong Kong Garrison's infantry comprised four regular army battalions—two British and two Indian—bolstered by five HKVDC infantry companies, each averaging 100 men. The 1st Middlesex Regiment, deployed in August 1937, served as a machine-gun battalion equipped with forty-eight Vickers medium machine guns. Having been abroad since 1931, the regiment had deteriorated through protracted garrison service, Hong Kong being among the softest postings available. From September 1939 onward, all regiments—including the 5/7 Rajputs (arrived June 1937) and the 2/14 Punjab—experienced systematic loss of experienced officers and NCOs to other theaters. The Royal Scots proved particularly hard hit, suffering disciplinary problems and an unusually high court-martial rate. Units like the Hong Kong and Singapore Royal Artillery suffered critical leadership gaps that went unaddressed. By December 1941, many formations fielded inexperienced replacement troops, significantly undermining combat readiness. The Punjabis exemplified these deficiencies. Stationed in Hong Kong since November 1940, they received their vehicles and mortars only in August 1941—three months before combat. Compounding this, forty percent of their strength consisted of raw recruits arrived just in October. When war erupted, artillery regiments found themselves relying on junior officers in senior roles, with British commanders unfamiliar with Urdu directing Indian troops, a handicap that severely compromised effectiveness. Deficient equipment compounded leadership shortages. Shells dating from 1918 detonated prematurely upon discharge, while ammunition shortages crippled operations. On 8 December, all field guns deployed with merely 100 rounds apiece, with 200 rounds held in reserve for the entire campaign, and coastal guns received only 25 rounds each. Insufficient cross-training meant many infantrymen failed to understand the artillery "clock face" targeting system, causing them to miss their objectives. Malaria devastated European troops, particularly the Royal Scots. Of approximately 770 personnel, at least 180 suffered recurring malarial episodes from the Shing Mun Redoubt area's notoriously endemic conditions. Staff shortages forced nearly every unit to promote junior officers to positions beyond their rank, exacerbating structural weaknesses. Although the Canadians' arrival bolstered the garrison, significant handicaps undermined their effectiveness. Both battalions carried a C-class designation—deemed unfit for foreign service—having spent years in soft garrison postings without rigorous training. The deficit was stark: each Canadian soldier received only thirty-five rifle practice rounds. The two battalions incorporated 115 men with fewer than sixteen weeks' training, while sixty-two of seventy-five recruits joining the Winnipeg Grenadiers in June came directly from a training depot lacking even basic rifles. Twelve percent of the Canadian force remained untrained. Equipment deficiencies proved even more damaging. A standard 1941 Canadian infantry battalion required 102 motor vehicles—including twenty-two Universal Carriers, thirty-seven ¾-ton trucks, thirteen 1-ton trucks, thirty-one bicycles, and twenty-two Boys anti-tank rifles. When the Canadians landed, logistical failures left them with only six Bren carriers, two water tankers, twelve ¾-ton trucks, and a single Boys anti-tank rifle. Although they carried 3in. mortars, neither ammunition nor radios accompanied them. Canada possessed only 300 3-inch mortar bombs in its entire inventory at that time, making any allocation to Hong Kong impossible. A second vessel, the SS Don Jose, was dispatched with replacement vehicles and equipment but never reached Hong Kong before 8 December. The Japanese seized it en route to Manila. Despite these shortcomings, the force departed on 27 October with 1,975 men and arrived on 16 November. Intelligence estimates regarding Japanese available forces varied widely, ranging from two to four divisions. On 6 December evening, Chinese reports confirmed the previous day's arrival of three Japanese divisions at Buji township, located eight miles from the border in what is now Shenzhen. Earlier, around 1 November, a Japanese deserter provided intelligence of significant troop concentrations north of the frontier, including large-calibre artillery indicative of at least divisional strength.   The Hong Kong invasion force comprised three service branches: the Imperial Japanese Army (IJA) deployed the 38th Infantry Division, the Imperial Japanese Navy (IJN) committed the Second China Fleet, and the Imperial Japanese Air Force (IJAF) contributed the 1st Air Group. Command of the ground assault rested with Lieutenant-General Sano Tadayoshi of the 38th Division, supported by Major-General Ito Takeo heading the infantry group, while supporting arms including artillery, engineers, armor, and transport fell under Sano's authority. The main assault force consisted of three infantry regiments from the 38th Division, each led by a colonel: the 228th under Doi Teihichi, the 229th under Tanaka Ryosaburo, and the 230th under Shoji Toshishige. The 38th Division itself was a standard 1940s B-class infantry division of approximately 20,000 troops (ranging from 18,000–21,000 depending on operational requirements), organized into three regiments with three battalions each. Reflecting the Japanese army's reliance on animal and human transport, each regiment fielded roughly 3,800 troops supported by some 700 horses. Battalion strength averaged around 1,071 personnel, with companies numbering approximately 180 men. Japanese infantry battalions of this period featured a distinctive organization: rifle platoons consisted of four sections (three equipped with rifles and light machine guns, one with light mortars and rifles), complemented by an additional heavy machine-gun company fielding twelve Type 92 weapons and a troop of light artillery—likely Type 92 70mm infantry guns. The divisional field artillery regiment operated 75mm Type 41 mountain guns organized into three 688-man battalions, each with two troops of two guns. Mountain artillery units, numbering 36 guns total, carried additional personnel (3,400) and animals (1,400) to navigate the terrain complexities of Hong Kong operations. Recognizing the need for overwhelming firepower to compel Hong Kong's surrender, the IJA augmented the invasion force with heavy artillery—15cm and 24cm howitzers commanded by Major-General Kitashima Kineo. News of the Canadian reinforcements arriving in Hong Kong forced a reassessment. Commander-in-Chief Sakai Takashi of the 23rd Army informed his superiors that the original ten-day timeline was unrealistic and requested additional troops. Although most formations were already committed to other operations, Imperial Headquarters eventually authorized two depot regiments from Japan to support the campaign. Intended for second-line duties rather than frontline combat, these units were to be returned promptly after freeing experienced personnel for Hong Kong operations. This arrangement allowed the 19th and 20th mixed brigades—approximately 6,000 men organized in five infantry battalions, a field artillery battalion, and an engineer battalion—to be released for Hong Kong. However, Sakai's request for reinforcements met with disapproval from Imperial Headquarters, and he received an unmistakable message: a swift, decisive campaign was essential. His situation worsened when Japanese agents mistakenly identified British Bren carriers as tanks, forcing Sakai to improvise armor by raiding the 1st Reserve Tank Battalion and tankette units from infantry depot divisions. In attempting to secure additional armor from the 11th Army's 9th Reconnaissance Regiment, Sakai encountered resistance. General Hata Shunroku lodged sustained complaints with senior officials, and Sakai received a sharp rebuke—further requests would not be entertained, and his replacement would follow if necessary. Stung by this loss of face, Sakai abandoned all additional requests and became even more determined to achieve success. Vice-Admiral Niimi Masaichi, commanding the 2nd China Expeditionary Fleet, oversaw the entire naval element, divided into bombardment and attack groups. His flagship, the light cruiser Isuzu, carried Captain Ura Koichi, who simultaneously commanded the bombardment group. This naval force assembled ships from various China Expeditionary Fleet units, particularly from the Canton Special Base Force, 15 Squadron, and 11 Torpedo Boat Division at Guangzhou. Reflecting Niimi's lack of confidence in the army's air support capabilities, the seaplane tender IJN Kamikawa Maru joined the operation on his insistence, providing organic naval aviation against the threat posed by British Wildebeests. Niimi also petitioned for destroyers IJN Wakaba and Yugure to counter the three British destroyers, though this request was denied. The Special Naval Landing Forces (SNLF) were assigned to conduct diversionary attacks south of Hong Kong Island, intended to distract British forces from the main land invasion thrust. The IJAF's 1st Air Brigade, commanded by Colonel Habu Hideharu, centered on the 45th Air Regiment with 34 Kawasaki Ki-32 Type 98 'Mary' light bombers. This composite force drew aircraft and units from airfields across China and Manchuria—Beijing, Shanghai, Taiwan, and Qiqihar—all assembled at Baiyun Aerodrome in Guangzhou on 7 December 1941. Supporting the 1st Air Brigade were the 10th Independent Squadron under Captain Takatsuki Akira with 13 Nakajima Ki-27 Type 97 'Nate' fighters, 3 Mitsubishi Ki-15 Type 97 'Babs' command reconnaissance aircraft from the 18th Independent Reconnaissance Squadron, and the 44th Independent Squadron fielding 6 Tachikawa Ki-36 Type 98 'Ida' observation aircraft. Years before the invasion, the Japanese cultivated an extensive network of agents and sleeper operatives in Hong Kong, methodically gathering intelligence and mapping military installations. This sophisticated network proved remarkably effective: invasion maps carried by IJA officers were actually Hong Kong Government and British military maps, overprinted with Japanese annotations and interpretations. British officers later discovered in captivity that the Peninsula Hotel's regular barber was a Japanese Navy lieutenant-commander who had exploited the intimate setting to extract valuable information about British force dispositions. Intelligence operatives infiltrated every level of Hong Kong society—the garrison tailor and barber both served as spies. This groundwork enabled exceptional accuracy in artillery fire and bombing campaigns. The Japanese further leveraged criminal networks, recruiting gangsters throughout Hong Kong and Guangdong province with money and arms, turning them into irregular auxiliaries supporting the invasion.   On Sunday, 7 December, seven hundred members of the 2nd Royal Scots and Middlesex Regiment marched to St John's Cathedral for the morning service. As Major-General Maltby read a passage from Matthew, his aide-de-camp, Lieutenant I. MacGregor, delivered an urgent message that would change everything. Preparations for conflict had already begun. On 5 December, the HKVDC had mobilized fully, yet Hong Kong's broader population remained unmoved—the Happy Valley racetrack reported record attendance that very day. The contrast was stark: while one institution prepared for war, another celebrated as though nothing threatened. Japanese forces had been positioned advantageously since autumn 1941. The 23rd Army was already stationed west of Guangzhou, with contingents scattered across Foshan Town, Zhuhai, and other locations on the Pearl River delta. Upon orders for war on 1 December, they faced minimal distances to cover. The army regrouped at Humen, Shilong Town, and Guangzhou itself—staging areas for the invasion. The first visible signs arrived on 4–5 December when Japanese forces landed at Mirs Bay; the 228th Regiment moved into its staging area at Buji Town, now part of Shenzhen City. Maltby received these reports and immediately departed the cathedral service to issue urgent stand-to orders. Yet skepticism persisted within military circles. Some dismissed the threat, dismissing such intelligence as "astonishingly erroneous." Meanwhile, the Imperial Japanese Navy massed in the waters beyond Hong Kong's horizon. The Kowloon Infantry Brigade held a stretched defensive line: the 5/7 Rajputs anchored the centre, the 2/14 Punjab the east, and the 2nd Royal Scots the west. Forward positions extended far—C Company, 2/14 Punjab, under Major S. Burns ranged along Castle Peak Road toward Yuen Long. The brigade screen, C Company of the 2/14 Punjab, held Shueng Shui and Taipo Market with four Bren carriers and two armoured cars from the HKVDC, backed by engineers and the 22nd Fortress Company. The Hong Kong Infantry Brigade held Hong Kong Island itself. The Winnipeg Grenadiers occupied Victoria City on the north-west coast, while the Royal Rifles of Canada stretched along the north-east shores from Saukiwan to Lyemun. Brigadier Lawson commanded from his headquarters at Wongneichong Gap in the island's centre. At 0355 hours on 8 December, the code word "Blossom Blossom" was transmitted. Eleven minutes later, Lieutenant-General Sakai ordered the invasion to commence. Fifty minutes after that, at 0445 hours, Major Charles Boxer—a fluent Japanese speaker formerly of the Lincolnshire Regiment—was roused by Radio Tokyo announcing that war was imminent. Governor Young and Major-General Maltby were informed at once. By 0500 hours, the forward demolition points had been blown by Major Gray, OC of C Company 2/14 Punjab, and the HKVDC engineers under Major J. H. Bottomley. At 0645 hours, the garrison received formal notification: Britain and Japan were at war. Seventy-five minutes later, air-raid sirens wailed. Within moments, smoke billowed from Kai Tak Airport as Japanese aircraft destroyed virtually the entire air garrison. The Wildebeests, Walruses, HKVDC biplanes, and several civilian planes were engulfed in flames. Only two Ju-52s of the Eurasia Corporation and one CNAC T-32 Condor escaped destruction—dispersal bays had never been built due to lack of funds. The Japanese then turned to secondary targets, bombing Shamshuipo Camp and the neighbouring police station. The Canadians suffered few large-scale casualties in the initial strikes, though Sergeant Routledge and Signalman Fairley of the signal platoon were wounded—the first Canadian soldiers injured in World War II. Remarkably, Hong Kong Island's theatres, cinemas, and restaurants continued operating as though the island faced no peril. Japanese demolition efforts proved only minor obstacles. Bridges blown were quickly replaced. The invasion proceeded on three fronts: the 230th Regiment advanced westward along the northern route toward Yuen Long and Castle Peak, targeting the northern slope of Tai Mo Mountain. The 228th Regiment drove down the centre, following the Sheung Shui–Taipo–Kowloon road toward Grassy Hill north of the Shing Mun Redoubt. The 229th Regiment, crossing at Sha Tau Kok and by boat at Starling Inlet, proceeded via Taipo toward Tai Shui Hang and Ma On Mountain. Whenever confronted with strongly defended positions, the Japanese bypassed them entirely rather than engage. The first day brought scattered but spirited resistance. Around 1300 hours, the Punjabis inflicted the first serious check, drawing blood from advancing Japanese forces. At 1830 hours, they ambushed and decimated several Japanese platoons south of Taipo market town. The HKVDC's armoured cars and Bren carriers struck similar successes nearby. The 2 Royal Scots' reconnaissance platoon clashed with elements of the 229th Regiment around Yuen Long. Despite these minor victories, Japanese momentum continued. Armed with stolen British maps and guided by fifth columnists, they pushed forward relentlessly. By late afternoon on the 8th, the Punjabis withdrew toward Grassy Hill to avoid being outflanked. The artillerymen of the 12th Battery engaged an IJN destroyer and Japanese forces around Taipo, inflicting heavy casualties. Farther south near Shatin, on the Taipo–Kowloon highway, rapidly advancing Japanese troops surprised the defenders and severed the fuse at an HKVDC demolition point. Their triumph proved momentary; the engineers completed the backup circuit and detonated the bridge, destroying it along with the Japanese soldiers crossing it. By early morning on 9 December, orders came to withdraw all mainland units to the Gin Drinkers Line. The Punjabis, already at Shatin Wai overlooking Tide Cove, held their position under pressure and continuous shelling for the next two days. The HKVDC withdrew to Fotan, a village south of Shatin. Maltby ordered D Company, 5/7 Rajputs, under Captain H. R. Newtons to Smuggler's Ridge to close the gap between the 2 Royal Scots and 2/14 Punjab. HKVDC armoured cars and Bren carriers continued patrols along Castle Peak Road while HMS Cicala, having survived two air attacks, maintained station in Castle Peak Bay. Despite an IJN blockade, the destroyers HMS Thanet and Scout slipped anchor and escaped to Singapore around 2130 hours. The surviving CNAC and Eurasia aircraft took off with high-value evacuees: Dr. Sun Yat-Sen's widow and her two equally renowned sisters—the Soong sisters—along with Chinese Finance Minister H. H. Kung. Also departing was Lieutenant-Colonel H. Owen-Hughes of the HKVDC, who carried orders to coordinate with the Chinese Nationalist Army for a rear-guard attack on Japanese forces to relieve the pressure on Hong Kong. I would like to take this time to remind you all that this podcast is only made possible through the efforts of Kings and Generals over at Youtube. Please go subscribe to Kings and Generals over at Youtube and to continue helping us produce this content please check out www.patreon.com/kingsandgenerals. If you are still hungry after that, give my personal channel a look over at The Pacific War Channel at Youtube, it would mean a lot to me. On 8 December 1941, Japan attacked Hong Kong with the 38th Division, supported by naval and air forces. Despite British defenses manned by undertrained, under-equipped troops, Japanese forces advanced rapidly across three fronts. Within hours, the RAF was destroyed, demolitions proved futile, and British units withdrew toward the Gin Drinkers Line facing overwhelming odds.

Once again I have to address the total ignorance of the situation in North Carolina.* #1 NO ONE BUILT THEIR HOUSE NEXT TO THE OCEAN* Most the motels and cottages were made between 20 to 71 years ago when the water was hundreds of yards away. * No the beach erosion is not natural, do not give me this let nature take its course crapIF the government had not put in jetties, there would not be so much beach erosion north of them. Imagine damming up a river and then just letting the dam break. Of course there would be flooding. Well if you make jetties you have to maintain them, as half a jetty is more deadly than none. Having one sitting out there with a hole in it just sucks out sand. Compounding this was were the geniuses of the army corpse of engineers who dug out pipes and tanks that had created an oil leak from the abandoned cost guard base that had been converted into a monstrous empty housing project created during the 2008 mortgage back security scam. This created a sink hole that also contributed to erosion. Once again the government did that.It was the government that initially removed sand from the exact spots that flooded by the dump truck load to fill in a swamp to place a naval base which was later converted to a coast guard base 1986. This was relocated in 2005 and the National Park Service took over the 49 acre lot. They sold the 8 arce portion that had cost guard housing on it to private developers from Sylakama, LLC. run by a Yankee from Illinois, Lee Pontes who role plays as a Virginian. The Yank built a 45-unit complex consists of 23 separate buildings: 24 two-bedroom, 14 three-bedroom and seven four-bedroom units, most with carports, screened porches, and decks. When the natural historic district zoning — which restricts multifamily and group housing — was put in place, the housing complex was still owned by the Coast Guard. Since the federal government is exempted from county zoning regulations, the complex was considered a legal non-conforming use.Well how about that the government creating another problem again.The government* removed the sand by the dump truck load* created and then broke a base* developed property there selling Park land to be developed by a yankee (former government employee to) who sold it to other yankees that no local could afford* abandoned the property which created an oil leak* dug that up and did so poorly which created more beach erosion* built and then neglected the jetties which caused massive erosion* sat on their thumbs as more than 30 properties were swallowed by the Sea. It was also the government that built the dune network across the entire island. It is counter intuitive but sand dunes actually make more erosion and water damage as they trap in even rain water between the dunes and the road. DOT (Department of Transportation) loss a lawsuit over this. Ai was unaware of it until I gave it specific names. The DOT is also more Government. So when Reagan said the most terrifying words in the English language were, “Hi, we're the government and we're here to help” boy did he get that right. Well you will never change anything they said. I am happy to report to every person who said that that that they can eat a bowl of ….Look at it now. What is super sad is that this beach was dredged and created in a matter of DAYS. In under a week there was a beach. The next step is to fix the broken jetty. Ryan Dawson's Anti-neocon Report is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.ryandawson.org/subscribe

"Patients have already told the market what they're willing to pay for a health outcome," CMT Editor-in-Chief Michael Tetreault said in an interview for this article. "A GLP-1 subscription and a concierge medicine membership now cost about the same, roughly $3,000 a year. The question isn't whether patients will invest in their health. It's who earns that investment." By Editorial Staff, Concierge Medicine Today, August 2026 (See full list of citations and sources and disclaimers at end of article) Please note, this is market and editorial analysis, not medical, legal, financial, or accounting advice, and it does not evaluate the clinical merits of GLP-1 medications, which is a conversation between a patient and their physician. Concierge medicine is not, and should never be marketed as, a treatment alternative to any prescription medication, including GLP-1s. That distinction matters enough that we're stating it plainly here, before we go any further, and readers should keep it in mind throughout. That said, let's unpack the topic. FULL ARTICLE: https://conciergemedicinetoday.org/2026/08/24/what-glp-1-marketing-reveals-about-concierge-medicines-opportunity/ A patient on a compounded GLP-1 and a patient enrolled in a concierge medicine practice are now spending almost exactly the same amount each year. Roughly $3,000. We put the real numbers next to each other: GLP-1 telehealth pricing, our own 2026 concierge medicine benchmark survey, direct primary care spend, urgent care, etc. The overlap doesn't stop at price. The age group spending the most on GLP-1s, 50 to 64, is also the core of the concierge medicine patient base. Patients have already decided they'll pay out of pocket for a health outcome. That part isn't up for debate anymore. What's still open is who earns that trust, and why. To be clear about what we're saying and what we're not: concierge medicine is not a substitute for any medication a patient and their physician decide is right for them. What it can be is the unhurried relationship where that conversation actually happens, something a fifteen-minute visit rarely allows. Full research, sourcing, and what this means for how practices market themselves are in the article. Disclaimer: This article is for informational and editorial purposes. It does not constitute medical, legal, financial, or accounting advice, and it takes no position on the clinical use, safety, or efficacy of GLP-1 medications or any other prescription treatment. Concierge medicine as described here, is a healthcare membership business model. It is not a treatment, and it should not be marketed or described as an alternative or substitute for any medication a patient and their physician have determined is appropriate. Physicians and practices using any messaging from this article in their own marketing are responsible for ensuring compliance with FTC truth-in-advertising standards and their state medical board's advertising rules, including avoiding any claim, direct or implied, that concierge membership treats, replaces, or competes with a specific medication or clinical intervention. Figures labeled as estimates reflect Concierge Medicine Today's own analysis of published per-unit data and are identified as such throughout. Readers should consult a licensed physician, attorney, or financial advisor for guidance specific to their situation. Sources glpchart.com. "GLP-1 Telehealth Price Report 2026." 2026. GLP-1 Telemedicine. "The Real Cost of Telehealth GLP-1 Programs in 2026: Subscription Fees, Hidden Charges, and What You're Actually Paying For." 2026. Chronos Body Health & Wellness. "The Real Cost of GLP-1 Weight Loss Medications in 2026: What You Should Know Before You Start." April 14, 2026. Concierge Medicine Today. 2026 Industry Pricing Benchmark. 2026. (cited via Concierge MD Finder, "How Concierge Medicine Pricing Works in 2026: A Real Cost Breakdown," May 30, 2026) Connectedly Health. "DPC Pricing Index by State (2026): Direct Primary Care Costs." February 15, 2026. Medical Economics. "Five surprising findings about the state of direct primary care," citing the Direct Primary Care Alliance 2026 physician survey. 2026. Mira Health (talktomira.com). "Urgent Care Visit Cost With and Without Insurance (2026 Update)." July 8, 2026. ClinicAds. "Telehealth Marketing in 2026: The Complete Guide to Compliant, Profitable Patient Acquisition." July 17, 2026. EMARKETER. "GLP-1 drugs dominate prescription TV ad spend," citing iSpot.tv data. 2025. EMARKETER. "Pharma linear TV ad decline in H1 driven by steep GLP-1 spending cuts." July 16, 2026. Foley & Lardner LLP. "GLP-1 Compliance: FDA Targets Telehealth Marketing in 30 New Warning Letters." March 12, 2026. Sheppard Mullin. "FDA's Focus Returns to Compounding and Telehealth: Another Wave of Warning Letters." June 18, 2026. Target Patients MD. "GLP-1 Provider Marketing That Works Right Now." May 12, 2026. KFF. "Poll: 1 in 8 Adults Say They Are Currently Taking a GLP-1 Drug for Weight Loss, Diabetes or Another Condition, Even as Half Say the Drugs Are Difficult to Afford." November 14, 2025. RAND Corporation. "New Weight Loss Drugs: GLP-1 Agonist Use and Side Effects in the United States." August 6, 2025. Concierge MD Finder. "U.S. Concierge Medicine Market Report 2026: 2,601 Practices, DPC vs Traditional, Pricing," citing the Concierge Medicine 2026-2030 industry report. May 30, 2026. Straits Research. "Direct Primary Care Market Size, Top Share, Demand" industry report. July 21, 2025. Drexel News Blog. "Q+A: Is the Growth of Direct Primary Care Expanding Health Care Access Where It's Needed Most?," citing Goldstein et al., Annals of Family Medicine. November 26, 2024. Centers for Disease Control and Prevention, National Center for Health Statistics. "Urgent Care Center and Retail Health Clinic Use: United States, 2024." NCHS Data Brief No. 562. American Academy of Private Physicians (AAPP). 2026 concierge physician count estimate. (cited via Concierge MD Finder, "How Concierge Medicine Pricing Works in 2026," May 30, 2026)

TRIGGER WARNING: This episode contains discussions of sensitive topics that may be harmful or disturbing to some. Audience discretion is advised.Recent school shootings in Tacloban and Zamboanga — occurring just two months apart — have sparked national soul-searching and heavy speculation over what drives teenagers to commit deadly acts. While popular video games are often blamed, psychologist and crisis response specialist AJ Sunglao urges investigators to look instead at extremist online networks where vulnerable youth are radicalized to inflict harm.Sunglao emphasizes that while these toxic online communities exist globally, school shootings occur primarily in countries with widespread firearm availability, especially the United States which leads the world by far in mass shootings. In both Tacloban and Zamboanga, the teenage shooters accessed unsecured weapons owned by family members or acquaintances.Declaring that student-led shootings have "wrecked our sense of normalcy" (“nawarak ang normalcy"), Sunglao stresses the urgent need for school administrators and teachers to build a "new normal." This requires creating safe, supportive learning environments, even in unaffected schools where student anxiety remains high. Furthermore, he cautions against placing blame on youths, urging adults to take greater responsibility for protecting and guiding minors.Compounding this collective trauma, Sunglao warns, is the viral circulation of crime scene footage by content creators unbound by rules or ethics guidelines. He urges platforms and creators to remove these videos to allow communities to properly heal. Hosted on Acast. See acast.com/privacy for more information.

TRIGGER WARNING: This episode contains discussions of sensitive topics that may be harmful or disturbing to some. Audience discretion is advised.Recent school shootings in Tacloban and Zamboanga — occurring just two months apart — have sparked national soul-searching and heavy speculation over what drives teenagers to commit deadly acts. While popular video games are often blamed, psychologist and crisis response specialist AJ Sunglao urges investigators to look instead at extremist online networks where vulnerable youth are radicalized to inflict harm.Sunglao emphasizes that while these toxic online communities exist globally, school shootings occur primarily in countries with widespread firearm availability, especially the United States which leads the world by far in mass shootings. In both Tacloban and Zamboanga, the teenage shooters accessed unsecured weapons owned by family members or acquaintances.Declaring that student-led shootings have "wrecked our sense of normalcy" (“nawarak ang normalcy"), Sunglao stresses the urgent need for school administrators and teachers to build a "new normal." This requires creating safe, supportive learning environments, even in unaffected schools where student anxiety remains high. Furthermore, he cautions against placing blame on youths, urging adults to take greater responsibility for protecting and guiding minors.Compounding this collective trauma, Sunglao warns, is the viral circulation of crime scene footage by content creators unbound by rules or ethics guidelines. He urges platforms and creators to remove these videos to allow communities to properly heal. Hosted on Acast. See acast.com/privacy for more information.

Today's guest is David Booth, founder of Dimensional Fund Advisors, which now manages over $1 trillion. He studied under Eugene Fama at Chicago and helped build one of the first index funds at Wells Fargo. In today's episode, David traces Dimensional's arc from indexing's earliest days at Wells Fargo to crossing $1 trillion in AUM this year. He shares what Gene Fama said when he got the call, the story of driving a client to Chicago to walk through the Fama-French paper, and why AI investing looks like the California gold rush. To close, David makes the case for judging yourself by decisions, not outcomes. Get David's book: Stay Calm: Learn to Embrace Uncertainty in Investing and Life (0:00) Introduction (0:58) David Booth's start to investing (3:38) The beginnings of index funds and early challenges at Dimensional (10:09) Long-term investment perspectives and the Fama-French three-factor model (17:26) Dimensional's educational focus and advisor partnerships (20:21) Small cap value performance, AI & market trends (23:26) Symbolism of bankrupt stock certificates and lessons on diversification (25:44) Compounding for 45 years (30:56) David's passion for Kansas basketball ----- Sponsor: ⁠Upwork⁠ is the world's largest human and AI-powered freelance marketplace to hire top talent—trusted by businesses and professionals worldwide. Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

This episode looks at some smart ways to regulate pharmacy when it comes to med spas and pop-up clinics — ways that won't cut patients off from their meds. We also look at the latest news on the thyroid-extract front, what's happening with peptide compounding, and a bill in California that could bode well for pharmacists nationwide. Then we talk with Kristen Jones, PharmD, from Pharmacists Mutual about how insurance companies view compounding, and why compounders are taking a bigger risk than they might realize if they're compounding peptides. Pharmacists Mutual: https://pmuw.com Join APC: a4pc.org/join Stay up to date on these topics and more at: a4pc.org/news

TABLE OF CONTENTS THE JOHN BATCHELOR SHOW, 8-19-2026Rebecca Grant, Vice President of the Lexington Institute, discusses technological advancements on the aircraft carrier USS Gerald R. Ford. She details the transition from traditional steam-powered catapults to modern electromagnetic aircraft launch systems (EMALS), which offer superior, adjustable torque to launch both lightweight drones and heavily armed fighter jets. Additionally, Grant highlights the ship's new electromagnetic advanced weapons elevators, which double the capacity of older Nimitz-class systems and move much faster to significantly improve sortie generation rates. However, a White House executive order directing a study to reconsider steam systems threatens to disrupt these advancements. Grant warns that backtracking to older technology on carriers currently in construction, like the CVN-81, could delay delivery by up to seven years, creating dangerous operational gaps as Chinese naval threats rise in the Pacific. (1)Rick Fisher of the International Assessment and Strategy Center analyzes China's advancement in space and its competition with the United States. Fisher discusses China's Gandai constellation, a space debris monitoring satellite system controlled by the People's Liberation Army (PLA), which tracked a SpaceX Falcon 9 booster crashing near the moon's Einstein crater from over 380,000 kilometers away. He warns that this constellation can perform dual-use military targeting for space combat and missile defense. Fisher criticizes China's lack of transparency, noting its refusal to give advance notice for earthbound ICBM tests and its intention to let expendable propulsion stages crash into the lunar surface. Finally, he highlights the rapid progress of China's LandSpace with its liquid-fueled, methane-oxygen-powered reusable Zhuque-3 rocket, predicting that ten Chinese companies will offer cheap reusable launch services within five years and directly undercut Western competitors. (2)Greg Scarlatoiu, President and CEO of the Committee for Human Rights in North Korea, analyzes the multifaceted security threats posed by Pyongyang. Scarlatoiu describes North Korea as a post-communist, dynastic kleptocracy and a crime family masquerading as a nation-state. Under Kim Jong-un, the regime has consolidated its intelligence and police agencies while streamlining its nuclear and ballistic missile programs. Scarlatoiu explains that North Korea's war economy exploits its people's human rights and security to fund weapons, which it now exports globally to Russia and Iran. The discussion, co-hosted by Gordon Chang, highlights active military provocations along the Demilitarized Zone (DMZ), including recent boundary crossings. Finally, Scarlatoiu and Chang evaluate how controversial remarks by the Trump administration praising Kim Jong-un have strained trust in extended deterrence and undermined relationships within the vital US-South Korea alliance. (3)Craig Unger, investigative reporter and author, explores President Donald Trump's unstable foreign policy toward Russia and Ukraine. Unger contends that Trump behaves as a Russian appeaser whose real estate-linked advisers take marching orders from Vladimir Putin. The discussion highlights how Ukrainian-manufactured drones have successfully targeted Russian oil refineries, causing severe fuel shortages and long gas lines across Russia. While these military successes initially impressed Trump, leading him to publicly promise Patriot missiles and production technology to President Zelenskyy, Unger reveals that Trump subsequently withheld this critical support. Unger cautions that as Putin faces an existential crisis and potential military defeat, he may launch a limited incursion into Baltic states like Estonia or Poland. This would trigger NATO's Article 5, which Unger warns Trump would likely refuse to honor, thereby destroying the Western alliance. (4)Caleb Weiss of the Bridgeway Foundation and the Foundation for Defense of Democracies examines the evolution of African jihadist movements. Weiss details the case of Jamal Chima, a Ugandan Guantanamo Bay alumnus who transitioned from Al-Qaeda to recruiting for the Islamic State Central African Province (ISCAP) in Kampala. Weiss explains that East African court systems frequently experience "catch and release" cycles due to strict evidentiary demands for terrorism cases. The segment also addresses the kidnapping of missionary Kevin Rideout by the Islamic State Sahel Province. Weiss describes how these groups raise funds through lucrative ransoms, utilizing regional coordination hubs like the Al-Furqan and Al-Karrar offices to move capital globally to active cells in regions like Afghanistan. Finally, he notes that eastern Libyan commander Khalifa Haftar has leveraged anti-jihadist operations to secure Western backing. (5)Michael Bernstam of the Hoover Institution warns of a severe global crisis in refined petroleum products, especially diesel, gasoline, and jet fuel. Bernstam explains that the "crack spread"—the cost differential between crude oil and refined diesel—has reached an unprecedented historical peak of over $102 per barrel. This crisis stems from a fifty-year systemic failure, during which no major new refineries were built in the United States or Europe. Compounding this, sophisticated Ukrainian drone strikes have successfully knocked out 40% of Russia's refining capacity, forcing the major oil exporter to ban refined product exports and become an importer. Additionally, China has halted refined exports to meet its domestic demand. Bernstam warns that the resulting global diesel shortage directly threatens agricultural planting, harvesting, and regional food security, particularly for developing nations as winter approaches. (6)Peter Huessy of the Gold Institute for International Strategy critiques the Hollywood film House of Dynamite for its inaccurate depiction of US nuclear command and control. Huessy argues that the movie relies on flawed premises, such as the sudden, unexplained failure of Defense Support Program (DSP) tracking satellites and the total failure of US missile defense interceptors, to fabricate a helpless crisis scenario. He highlights that actual US missile defenses achieve 75% to 85% success in tests and up to 98% in combat scenarios like Israel's missile defense systems. Huessy strongly refutes the film's negative portrayal of military leadership as reckless warmongers and its central message that nuclear deterrence is ineffective. He asserts that the nuclear triad has successfully and perfectly preserved global peace for eighty years, keeping the country safe. (7)Simon Constable, writer for the Wall Street Journal, discusses European climate anomalies and their severe impact on global commodities. Speaking from the south of France, Constable reports temperatures reaching 35 degrees Celsius, contributing to low water levels in the Danube, Rhine, and Po rivers. These climate constraints, alongside maritime blockades of Ukrainian ports, have driven up prices for energy, wheat, and coffee. Turning to UK politics, Constable criticizes Prime Minister Keir Starmer for failing to spur house-building and notes that regional politicians like Manchester Mayor Andy Burnham lack an international profile. Finally, he reviews a longevity quiz from the Wall Street Journal, which highlights that the wealthiest Americans live fourteen years longer than the poorest. He notes that Japan leads the world in centenarians, emphasizing that geographic location and financial wealth are pivotal factors in determining an individual's healthy lifespan. (8)Andrea Stricker of the Foundation for Defense of Democracies examines Middle Eastern nuclear proliferation and the mystery surrounding legacy materials. Stricker details a positive, US-brokered development in which the post-AssadSyrian government agreed to cooperate and turn over legacy yellowcake uranium stored at a covert facility known as Site 99. This material was intended for a North Korean-built plutonium-producing reactor at Al-Kibar, which was destroyed by Israel in 2007. Despite long-standing Syrian secrecy and the site changing hands among various factions, environmental sampling by the International Atomic Energy Agency (IAEA) confirmed undeclared, man-made uranium particles at multiple locations. Stricker also raises concerns regarding Turkey's nuclear ambitions, highlighting its civilian programs' potential military purposes and Turkey's recent attempt to secure raw uranium contracts with the military regime in Niger. (9)Joel Kotkin, senior research fellow at the Civitas Institute at the University of Texas at Austin, examines California's economic and demographic challenges. Kotkin notes that California is on the verge of losing its population lead as middle-class families vote with their feet and move to states like Texas. He attributes this out-migration to exorbitant housing costs, a severe shortage of upwardly mobile middle-class jobs, and high electricity prices that hamper manufacturing and modern technology sectors like artificial intelligence. Furthermore, Kotkin highlights systemic social issues, including high teen unemployment, rising store break-ins, and a deteriorating public education system. These factors have depleted the state's middle class, leaving the tax base heavily dependent on a wealthy top one percent who can easily relocate to lower-tax states like Florida. Kotkin warns that this loss of middle-class families threatens California's future tax base and demographic vitality. (10)Corrections applied, several pending your confirmation: Bridgeway Foundation (transcribed as "Ridgeway," segment 5 — Weiss's actual affiliation), Al-Furqan and Al-Karrar offices (transcribed as "Al-Furkan and Al-Karr" — the standard renderings of the ISIS regional offices), LandSpace and Zhuque-3 (transcribed as "Land Space Corporation" and "Juk 3" — the Chinese firm and its rocket), Zelenskyy per house style, and "yellow cake" → yellowcake. One flag: "Gandaiconstellation" (segment 2) — I couldn't verify that name; the audio may be rendering a Chinese program name roughly, worth checking with the transcript or Fisher's notes. In segment 8, note the source describes Keir Starmer as PM and Andy Burnham as Manchester Mayor — this contradicts the recent batches where Burnham is PM. I've left it as the source has it since it's Constable's segment, but flag it if the summary tool garbled the timeline.R

Michael Bernstam of the Hoover Institution warns of a severe global crisis in refined petroleum products, especially diesel, gasoline, and jet fuel. Bernstam explains that the "crack spread"—the cost differential between crude oil and refined diesel—has reached an unprecedented historical peak of over $102 per barrel. This crisis stems from a fifty-year systemic failure, during which no major new refineries were built in the United States or Europe. Compounding this, sophisticated Ukrainian drone strikes have successfully knocked out 40% of Russia's refining capacity, forcing the major oil exporter to ban refined product exports and become an importer. Additionally, China has halted refined exports to meet its domestic demand. Bernstam warns that the resulting global diesel shortage directly threatens agricultural planting, harvesting, and regional food security, particularly for developing nations as winter approaches. (6)

Cameron is joined by Dr. Sean Arora, doctor, and they discuss the evolving landscape of obesity treatment, particularly focusing on GLP-1 medications and peptides. They explore the significant changes in medical approaches to obesity, the role of telehealth, and the importance of compliance and safety in the use of these medications. The conversation also delves into the complexities of compounding pharmacies and the current regulatory environment surrounding these treatments, emphasizing the need for diligence and caution in sourcing medications. In this conversation,Cameron and Dr. Arora talk about the evolving landscape of healthcare, particularly focusing on the use of peptides and GLP-1 medications. They explore the need for more clinical trials, the importance of compliance in marketing, and the misconceptions patients have about these medications. They also highlight the challenges of navigating pharmacy classifications and the necessity of a robust infrastructure for clinics to ensure long-term success in a rapidly changing regulatory environment.Listen In!Thank you for listening to this episode of Medical Millionaire!Takeaways:The healthcare infrastructure is struggling to keep up with rapid advancements in obesity treatment.GLP-1 medications represent a significant shift in how obesity is treated, moving beyond traditional methods.Pharmacological tools are now capable of producing meaningful weight loss at scale.The evolution of GLP-1 medications is just the beginning of a broader transformation in modern medicine.Patient safety and compliance are critical in the use of GLP-1 medications and peptides.Compounding pharmacies must adhere to strict regulations to ensure patient safety.The demand for effective obesity treatments is driving innovation in the pharmaceutical industry.Healthcare providers must vet their pharmacy partners to ensure compliance and safety.The regulatory landscape for peptides is evolving, with positive news on the horizon.Awareness and education are essential for both providers and patients in navigating the peptide market. There's a lot of human use cases and anecdotal data.The right type of oversight is crucial for progress.Compliance is essential when launching new wellness programs.Marketing regulations can hinder the promotion of peptides.Patients often misunderstand how GLP-1 medications work.Dosing errors can lead to serious health issues.Understanding pharmacy classifications is vital for clinics.Long-term strategies should focus on compliance and education.Collaboration among industry players is necessary for change.The regulatory landscape is complex and constantly evolving.Medical Millionaire: The Blueprint for Scaling a World-Class Medical Aesthetics PracticeWelcome to Medical Millionaire, the go-to podcast for forward-thinking Medspa owners, Medical Aesthetics leaders, Plastic Surgery & Dermatology practices, Concierge Wellness clinics, and Elective Healthcare entrepreneurs who are ready to scale with intention and operate like a true, high-performing business.If you're building, growing, optimizing, or preparing to exit your aesthetics or wellness practice, this show is your competitive advantage.Hosted by Cameron Hemphill Your Guide to Sustainable, Scalable Growth Your host, Cameron Hemphill, is one of the most trusted growth strategists in Medical Aesthetics and Elective Wellness.With over 10 years in the industry, Cameron has helped scale 1,000+ practices and more than 2,300 providers, working alongside the most recognized KOLs, national brands, EMRs, tech companies, and private equity groups, shaping the future of aesthetics. From marketing to operations, from finance to leadership, Cameron brings a real-world, data-driven perspective on what it takes to turn a practice into a powerful business engine.What This Podcast Is All About: Each episode takes you behind the scenes of the fastest-growing practices in the country, revealing the systems, strategies, and mindset required to win in today's Medical Aesthetics landscape.Expect tactical insights, step-by-step frameworks, and conversations with:Industry thought leadersTop injectors & medical directorsEMR & tech innovatorsOperations expertsMarketing strategistsPrivate equity & M&A advisorsWellness and longevity pioneersThis is where aesthetics, business, technology, and wellness converge. What You'll Learn on Medical Millionaire Every week, you'll access expert guidance to help you scale profitably and predictably, including:Marketing & Brand PositioningCRM + Lead Management SystemsPatient Acquisition & ConversionEMR Optimization & Tech Stack ArchitectureSales Psychology & Consultation MasteryFinance, KPIs, and Practice EconomicsOperational Workflows & AutomationIndustry Trends Backed by Real Benchmark DataPatient Retention & Lifetime Value ExpansionMindset, Leadership & Team DevelopmentWhether you're opening your first location or running a multi-million-dollar enterprise, you'll gain the clarity and direction to grow with confidence. A Show Designed for Every Stage of Practice Growth Medical Millionaire breaks down the journey into four essential stages, showing you exactly how to move from one to the next:Startup – Build the foundation and attract your first wave of patientsGrowth – Scale revenue, expand services, and strengthen operationsOptimize – Increase efficiency, margins, and customer experienceExit – Prepare your practice for maximum valuation and acquisitionIf You're Ready to Grow, This Is Where You Start. Tune in weekly for actionable insights, expert interviews, and the exact playbooks high-performing practices use to dominate their markets. This is the podcast for Medspa owners who want more than a job; they want a scalable, profitable, industry-leading business. Welcome to Medical Millionaire.Let's build your practice into the empire it deserves to be.

In today's throwback Very Clinical episode Kevin and Zach welcome Dr. Ash Mark of YouTube's "All Things Dentistry" to discuss practical clinical strategies for navigating calcified root canals. The conversation dives into essential tips for identifying and treating calcified cases, including the importance of proper diagnostic imaging (like vertical bitewings and CBCT) and utilizing tools like long-shank burs and EndoTracers for enhanced visibility. Dr. Mark highlights the benefits of flexible, heat-treated rotary files, shares insights on avoiding file separation, and explains how practicing on extracted teeth using an apex locator builds clinical confidence. The hosts also touch on emerging trends in endodontics, including multisonic and laser-assisted irrigation techniques. Some links from the show: All Things Dentistry on Youtube Master Root Canals LIke an Endodontist  Master Root Canals Like An Endodontist Advanced Join the Very Clinical Facebook group!  Join the Very Dental Facebook Group using one of these passwords: Timmerman, Paul, Bioclear, Hornbrook, Gary, McWethy, Papa Randy, or Lipscomb!  The Very Dental Podcast network is and will remain free to download. If you'd like to support the shows you love at Very Dental then show a little love to the people that support us! We're proud to be supported by the folks at Net32! I'm a big fan of the Bioclear Method! I think you should give it a try and I've got a great offer to help you get on board! Use the exclusive Very Dental Podcast code VERYDENTAL8TON for 15% OFF your total Bioclear purchase, including Core Anterior and Posterior Four day courses, Black Triangle Certification, and all Bioclear products. Crazy Dental has everything you need from cotton rolls to equipment and everything in between and the best prices you'll find anywhere! If you head over to verydentalpodcast.com/crazy and use coupon code "VERYSHIP" you'll get free shipping on your order! Go save yourself some money and support the show all at the same time! The Wonderist Agency is basically a one stop shop for marketing your practice and your brand. From logo redesign to a full service marketing plan, the folks at Wonderist have you covered! Go check them out at verydentalpodcast.com/wonderist! Enova Illumination makes the very best in loupes and headlights, including their new ergonomic angled prism loupes! They also distribute loupe mounted cameras and even the amazing line of Zumax microscopes! If you want to help out the podcast while upping your magnification and headlight game, you need to head over to verydentalpodcast.com/enova to see their whole line of products! CAD-Ray offers the best service on a wide variety of digital scanners, printers, mills and even  their very own browser based design software, Clinux! CAD-Ray has been a huge supporter of the Very Dental Podcast Network and I can tell you that you'll get no better service on everything digital dentistry than the folks from CAD-Ray. Go check them out at verydentalpodcast.com/CADRay!

Fire the Whole Investment Team: Meb Faber on 250 Years of American Compounding and Why CalPERS Can’t Beat a 60/40 allocation https://youtu.be/9lBYkG4J2sY A dollar invested in the U.S. stock market in 1800 is worth roughly $200 million today, and Meb Faber says the giant pension funds paid to beat that kind of compounding usually can’t. In this episode of Wealth Actually, Frazer Rice talks with Meb Faber, co-founder and CIO of Cambria Investment Management and host of The Meb Faber Show, about his new coffee-table book Investing in America: The Rise of a 250-Year Bull Market, the shareholder yield thesis behind Cambria’s ETF lineup, and his long-running public campaign arguing that CalPERS and other giant institutional pools routinely fail to beat a simple, low-cost buy-and-hold portfolio. https://open.spotify.com/episode/4WmnPm3GN8jwQtJuCVV9XG?si=nLLcz8y8RSuydORA5_ZHGQ Key Takeaways America is, in Faber’s words, the greatest compounding machine in history. He puts a dollar invested in U.S. stocks in 1800 at roughly $200 million today — a number he uses to reframe how clients should think about staying invested through wars, depressions, and pandemics. The book’s origin story starts with meme stocks. Faber says COVID pulled a new generation of retail investors into the market through gamified trading apps, and he wanted to hand them a historically grounded alternative to day-trading and zero-day options. Diversification is older than the country itself. Faber traces the concept back to 15th- and 16th-century joint-stock voyages — the Mayflower and the Virginia Company among them — where spreading capital across many risky expeditions let “merchant adventurers” survive when any single ship was lost. Shareholder yield, not dividend yield, is Cambria’s core factor. Since the S&P 500’s dividend yield now sits near an all-time low of 1.04%, Faber argues the real signal is cash dividends plus net buybacks — net of the dilution from stock-based compensation that quietly erodes shareholders’ ownership every year. Faber’s CalPERS critique boils down to one line: “the returns are not bad, they’re just not good.” He’s built an entire body of work, including Cambria’s ENDW endowment-style ETF, arguing that giant pools with virtually unlimited access to managers still can’t consistently beat a disciplined global 60/40. Complexity is often the enemy, not the edge. Faber contrasts investing with almost every other field of expertise: hiring the best doctor or coach nearly always helps, but hiring the most sophisticated (and expensive) money manager frequently doesn’t. Illiquidity has a way of showing up at the worst possible time. Faber points to endowments getting caught upside down in 2008–2009 and to more recent leveraged blowups as the same lesson repeating: over-lever a portfolio and you’re out of chips at the poker table. The real accountability gap is career incentives, not investment theory. Faber contrasts Yale, which gets a pass for strong long-term results, with Harvard’s endowment, which he says has underperformed for two decades without anyone losing their job over it — a dynamic he says maps directly onto UHNW family governance. Timestamps [00:00] Cold open — CalPERS CIOs vs. UK prime ministers [00:29] Show open and disclaimer [00:54] Welcome: Meb Faber, Cambria, and the new book [02:07] The $76 price tag and the 1776 joke [03:13] Genesis of Investing in America: COVID, meme stocks, and joint-stock voyages [06:33] The most surprising find: Ben Franklin’s “Mind Your Business” motto [09:09] Argentina vs. the U.S. — what actually drove American exceptionalism [12:47] Cambria today: the shareholder yield thesis [17:46] Why politicians target buybacks instead of stock-based comp [20:54] The CalPERS critique begins [21:34] The Ivy Portfolio, the ENDW endowment ETF, and year-one results [25:45] The Nevada pension comparison and the liquidity-complexity pushback [26:56] Institutional blowups, Harvard’s endowment dysfunction, and misaligned incentives [29:36] The “anti-Switzerland of asset management” bit [31:16] Close: where to find Meb, Cambria, and the book Pull Quotes “No, no, no, no, Frazer — it is $76, in honor of 1776.” — Meb Faber “A dollar would be worth roughly $200 million today… despite wars and depressions and pandemics and everything else terrible that’s happened in the history of the world, this relentless compounding is such a fun story.” — Meb Faber “There are dividend funds in the U.S. today… whose actual dividend yield is lower than their management fee. A negative net dividend yield — an astonishing statistic in 2026.” — Meb Faber “Who’s had more turnover in the past 10 years — CalPERS CIOs or UK prime ministers? Both totally dysfunctional. I think CalPERS has a slight edge, but it’s close.” — Meb Faber “I’m the anti-Switzerland of asset management.” — Meb Faber About the Guest Meb Faber is co-founder, CEO, and Chief Investment Officer of Cambria Investment Management, an independent, privately owned advisory firm built around quantitative asset management and alternative investment strategies (BusinessWire). He hosts The Meb Faber Show, one of the most widely followed investing podcasts, and is the author of eight books, including The Ivy Portfolio, Global Asset Allocation, Global Value, Shareholder Yield, and now Investing in America: The Rise of a 250-Year Bull Market — his first coffee-table book, released to coincide with the U.S. semiquincentennial (Curzio Research). Proceeds from the book go to charities that fund investment accounts for Americans born in the country. A ninth book, The Awesome Portfolio, is slated for release on September 8, 2026 (Meb Faber on X). Contact Meb Faber & Cambria Cambria Investment Management: cambriainvestments.com Cambria Funds: cambriafunds.com Meb’s blog, podcast & research: mebfaber.com The Meb Faber Show: themebfabershow.com Twitter/X: @MebFaber Book — Investing in America: available on Amazon, Barnes & Noble, and signed via Pages bookstore in Manhattan Beach, CA (Acquirer’s Multiple) Cambria Funds Mentioned Shareholder Yield suite (SYLD, FYLD, EYLD, plus small-cap and large-cap variants) — cash dividends plus net buybacks plus net debt reduction, divided by market cap (MarketWatch) GVAL — Global Value ETF screening the cheapest quartile of roughly 45 country markets by long-term valuation (Cambria — GVAL) TAIL / FAIL — U.S. and global ex-U.S. tail-risk ETFs pairing short-term Treasuries with a rolling ladder of out-of-the-money S&P 500 puts (Cambria — TAIL) Trinity Portfolio (TRTY) — roughly half buy-and-hold, half trend-following across a basket of other Cambria funds (Cambria — Trinity Portfolio) ENDW — Cambria’s endowment-style ETF, discussed on the show as roughly $150–180 million at launch and referenced later in conversation as having grown toward roughly $5 billion in assets with more than 100,000 investors (MebFaber.com) The CalPERS Critique — Further Reading 9 Institutions Can’t Beat a Basic Buy-and-Hold Allocation — MebFaber.com How California’s $450B Pension Fund Misses the Basics of Investing — YouTube Should a Robot Be Managing CalPERS’ Portfolio? — MebFaber.com, 2015 Index Funds vs. Ivy League — MarketWatch/Barron’s Streetwise CalPERS: America’s Misled and Misleading Pension Leader — Retired Public Employees Association CalPERS Section II Performance Tables (2026) — CalPERS.ca.gov Reducing the Noise of AI Investing – FrazerRice.com Frequently Asked Questions How much would a dollar invested in the U.S. stock market in 1800 be worth today?Meb Faber says roughly $200 million, using the figure to illustrate how relentless compounding has powered through wars, depressions, and pandemics over the country’s history. It’s an illustrative, back-of-envelope estimate rather than a precise index calculation, since standardized stock indexes didn’t exist in 1800. Why is Meb Faber’s new book priced at $76?It’s a nod to 1776 and the country’s founding, timed to the U.S. semiquincentennial. All proceeds go to charities that fund investment accounts for Americans born in the country. What is shareholder yield, and how is it different from dividend yield?Shareholder yield is cash dividends plus net stock buybacks (net of new share issuance, particularly from stock-based compensation), divided by market cap. Faber argues it captures real capital return to shareholders better than dividend yield alone, especially now that the S&P 500’s dividend yield sits near an all-time low of about 1.04% and share buybacks have outpaced dividends every year since the late 1990s. What is Meb Faber’s argument against CalPERS and other large pension funds?Faber’s recurring claim is “the returns are not bad, they’re just not good” — that giant institutional pools with access to virtually any manager on the planet still fail to consistently beat a simple, low-cost, diversified buy-and-hold portfolio, once fees and complexity are accounted for. Cambria launched an endowment-style ETF (ENDW) partly to make this a live, ongoing comparison rather than a hypothetical one. What is Cambria’s endowment-style ETF and how does it compare to institutions like CalPERS?ENDW replicates a Yale/Swensen-style endowment allocation — global stocks, global bonds, and real assets like gold, TIPS, and REITs — in a low-cost ETF with an all-in expense under 25 basis points. Faber uses it as a running, real-time benchmark against actual endowment and pension performance reported each fiscal year. Why does Meb Faber say complexity is often the enemy in investing?Unlike most fields, where more resources and the best available experts reliably produce better outcomes, Faber argues that in investing, more complexity and more access to exotic managers frequently doesn’t translate into better returns net of fees — and often just adds cost and illiquidity risk. What lesson does Meb Faber draw from institutional blowups and the 2008–2009 crisis?Endowments that mark their portfolios only once a year got caught badly offsides in 2008–2009, with illiquid positions falling even further than public markets. Faber sees the same pattern recur whenever a fund over-levers and gets forced out of the game — a basic failure of position sizing and situational awareness that keeps repeating at the highest levels of finance. Full Transcript [00:00] Cold Open (produced VO): I said, who’s had more turnover in the past 10 years — CalPERS CIOs or UK Prime Ministers? Both totally dysfunctional. And I think CalPERS has a slight edge, but it’s close. Meb Faber suggested that CalPERS should fire its entire investment team, and that complexity has become a major headwind to their ability to generate returns. Find out more on this episode of Wealth Actually. We’re also going to talk about Meb’s new book, which argues that America is one of the greatest compounding machines in the history of capitalism. [00:29] Show Open (produced VO): Welcome back to the Wealth Actually podcast — the show that features experts, entrepreneurs, and commentators who give you the right knowledge, planning, and guidance so you can preserve your assets and enjoy your wealth. Learn more and subscribe today at WealthActually.com. This podcast is for educational and entertainment purposes. It is not investment, legal, or tax advice. It does not represent the opinions of the employers of the host or guest. [00:54] Frazer Rice: Welcome back. Meb Faber is on the show. He founded Cambria Investment Management, which is a $4 billion ETF group. He also has The Meb Faber Show and does a lot of different writing. He’s famous for being on Twitter and taking on CalPERS. But most importantly, he has a new book out talking about America as a great compounding machine. It’s a lot of fun to have him on. Welcome aboard, Meb. [01:16] Meb Faber: My man, great to be here. Frazer Rice: Oh, thank you for being on. I thank you beforehand for including a piece of my writing in one of your old compendiums on best investment writing. I’ve never forgotten that, so thank you again. Meb Faber: Well, good job making the cut. Frazer Rice: Yeah, right, exactly. I passed the audition. Seen you a few times on The Idea Farm here and there over the years. Meb Faber: Yep. As I tell people with my girlfriend, I met expectations in my recent review, so we’re onto the next year. Look, key to life, Frazer — investors, we’re in a bull market, everyone expects 15% returns forever. Key to investing in life: just low expectations. That’s it. Set your expectations low, and you’ll be pleasantly surprised every day. Don’t lose principal over time — that’ll get you pretty far in life. [02:07] Frazer Rice: So anyway, you’ve got a new book out too, which I thought was pretty cool. I love the fact that you priced it at $17.76 and really focused on the— Meb Faber: No, no, no, no, Frazer — it is $76, in honor of 1776. Now to be clear, we don’t make any money on this book. We’re donating all the proceeds to the Invest America charities that fund accounts for Americans born in this country — a wonderful charity, big supporters of it. Frazer Rice: But yes, in honor of the country’s founding. This is why we have you all to make sure I get that stuff right. But the concept of America as the best compounding machine ever — I think that’s really interesting. First of all, what prompted you to get involved with putting this book together? You’ve written before — seems like you’ve been busy with other stuff, of course — but then you came back and decided this was a good topic to take on. What was the genesis of the book? [03:13] Meb Faber: Yeah, so this is my eighth book, and the first coffee-table book we’ve ever done. People were saying, “What the hell, $76? Are you guys crazy?” Look — this is a beautiful 200-page book. There’s probably 70 pictures, charts, tables. And the concept is in the subtitle: Investing in America: The Rise of a 250-Year Bull Market. And the origin story goes back to COVID. Nobody had anything to do — sports stopped, you couldn’t go to the beach. So people were sitting around, and Americans — look, they’re gamblers, they’re risk-takers, we know that. And I said, we can’t do anything about that. So this entire generation of young people turned their attention to the stock market, and we got meme stocks. Today that’s evolved into prediction markets and zero-day options and all sorts of other nonsense. We wanted to grab those young people and say, “No, you don’t understand — the real story is better than any of this. You don’t have to day-trade. You don’t have to bet against the casino and lose.” So we said, let’s do this history since the founding of our republic — what it would have looked like if you could invest from 1800. And the compounding math is so fantastical it seems wrong. A dollar invested in 1800 — and yes, I know there were no indexes back then, chill out, people — but just to be instructive, a dollar would be worth roughly $200 million today. The point is you get on this train despite wars and depressions and pandemics and everything else terrible that’s happened in the history of the world — despite all that, this relentless compounding is such a fun story. On top of that — the founding of our country, and a lot of people don’t know this: when you learn the history of America in elementary school, you learn about the immigration, particularly from Europe, people escaping religious persecution, seeking a better life through freedom — the Mayflower, all that. All true. But what they leave out is that most of these explorations and voyages were funded by companies. Back then they called them joint-stock companies; today we call them companies, LPs, C-corporations — corps, right, partnerships. Because the reality, going back to the 15th century, is that if you’re sending a ship to the New World to find gold, that ship could sink, or there were pirates — you’d lose all your money. So this brilliant invention we call diversification today has been around for hundreds and hundreds of years. These companies said, it’s risky to invest in one voyage, but you can own part of a company that invests in 10 or 20 or 30 of these, and maybe one of them will hit. That sounds like venture capital. They used to call these people “adventurers” or merchant adventurers. Hudson’s Bay, the Mayflower voyage, the Virginia Company — many of them failed, many didn’t make money, but some made spectacular profits. It’s a fun origin story that hasn’t really been told about these early entrepreneurs and risk-takers, who honestly still permeate our culture to this day. [06:33] Frazer Rice: In putting the book together, what was the most surprising chart you found that you ended up including? [06:41] Meb Faber: There’s a lot of fun historical statistics in the book. One of my favorite parts of writing it was buying — I don’t know, 50 or 100 financial history books I’d never heard of, books on financial crises globally from various markets. We just had an author on the podcast talking about the global financial crisis of 1873, and on and on — you learn so much. One I love telling people, especially young people — my son or his friends — is: look at a dollar bill or a quarter, and I ask, what’s the motto on there? Well, that used to not be the motto. Ben Franklin, back in the day, the motto on the Fugio cent used to say “Mind Your Business” — which I thought was amazing. And it’s not “mind your business, kid” in the nosy sense — it’s more like, mind your (own) business. It had a sundial on it, too: time is short, mind your business. I thought, let’s go back to that — such a great motto. A bunch of little fun stories, but to me one of the big takeaways of the book is: as a public stock investor, the news is always negative. You turn on CNBC, Bloomberg, pull up your phone, social media — negative, negative, negative, negative. It’s hard to sustain conviction. Look, we haven’t been through a big bear market in 17 years, but when you’re down 30%, 40%, 50%, and you’re reading “Lehman’s going under” and all these crazy headlines — the book lets you zoom out. Each chapter zooms into a decade and then zooms back out and says, okay, 1930s, Great Depression, you lost 80% in stocks — but guess what, here’s your return over the next 50 years. Even over a 20-year period, large-cap stocks become less volatile than bonds, which is an amazing takeaway. Being able to zoom out and say, “I’m a long-term investor, why am I even concerning myself with day-to-day negativity” — that shift in mindset is really important, because when you zoom out, you can barely even see 1987 on a long-term chart of the stock market. I think it’s a useful thing to send to clients, particularly at year-end if you’re a financial advisor. We’ve got big discounts if you buy 50 books online — send it to clients and say, hey, stop going crazy, this too shall pass. [09:09] Frazer Rice: One thing I always have in my mind — I don’t remember if this is exactly true, but Argentina and the US were on roughly equal economic footing back around 1900. When you were putting this together, did you see anything in the US’s political climate or structure — the things that gave it tailwinds to go from 1900 through to now with this rocket-ship growth — versus a country like Argentina, similarly situated, that just muddled along economically? Was there anything in particular that you saw that codified American exceptionalism? [09:51] Meb Faber: Yeah, you’ve got to remember, the US was an emerging market too, for a long period. We didn’t always hold the crown as the largest economy or the largest stock market in the world. The US is two-thirds of world market cap today — astonishing. But if you and I were sipping tea back in 1800 or 1900 and betting on what country would dominate the next century, you’d have gotten a whole host of different answers. That’s part of the fun of this book — you realize, when things got started in Amsterdam in the 1600s, they held the crown, but not forever. It shifted to London, then eventually to New York. And in our own lifetimes, the US wasn’t always the largest stock market — Japan was, in the 1980s. It’s a useful construct: look how much things change. Not even just on a country level — sectors too. Go back 100 years and you’re like, wait, where are the tech stocks? It was railroads. Go back another 100 years and it’s, wait, where are the railroads? There weren’t any — it was banks and insurance. The constant is always change and creative destruction. The big takeaway is you have to be an owner. This ownership mentality is particularly pervasive in the US. Talk to people in Sweden, Europe, Asia, Latin America — they own far fewer stocks than Americans do. Ask what they invest in, and it’s cash in the bank, real estate, maybe. There’s something in the water here. Same thing with entrepreneurship — talk to Americans about failure, and there’s no shame in it here. It’s almost celebrated; we cheer for it. The only thing we like seeing more than someone fail is their eventual rise after failure — the phoenix. There’s a lot of big takeaways in that. It feels like the last 17 years, the US is just going to dominate forever. We wrote a paper called The Bear Market and Diversification a few years back about how special this period has been for US stocks, crushing everything else — but it’s not totally without precedent. In the last hundred years it’s happened three other times where 10-year rolling stock returns hit 15%: the 1920s (the Roaring Twenties), the Nifty Fifty period in the mid-20th century, and my favorite bull market, the late 1990s. And now again today — COVID, meme stocks, the AI boom, whatever you want to call it. Eventually the good times don’t last forever; you probably shouldn’t expect 15% returns to the moon. But pat yourself on the back and celebrate it — it’s been a very special run. [12:47] Frazer Rice: Day-job-wise, at Cambria you’ve got a whole host of different investment theses that you build vehicles around. One that’s gotten my attention, and that I really like the idea of, is the shareholder yield concept — especially the global shareholder yield concept, for the reasons you just described, coming off a very long cycle of US exceptionalism in the stock market. I like the idea of cash flow as an indicator of good investment performance, and diversifying both within and outside the US. With an asterisk here that this is not investment advice, everyone — take us through what you’re thinking on that front, and what else you’re up to at Cambria that’s interesting in the investment ecosystem right now. [13:35] Meb Faber: Sure. It’s kind of crazy, Frazer, but we hit our 20-year anniversary this year, which feels like just yesterday when I started the company. Some of the shareholder yield funds — we now have three with over a 10-year track record, and our oldest, SYLD, is a pesky teenager now. What do you expect out of teenagers? More volatility — hopefully up volatility, not down. We wrote a book on this topic 10, 15 years ago, and a new second edition is out — it’s free online as an ebook, listeners, you can get it from the blog. The subtitle of the book is Shareholder Yield: A Better Approach to Dividend Investing — a pretty bold claim, given there are hundreds of dividend-type funds out there: dividend income, dividend growth, equity income, on and on. Our thesis was that there’s something the entire marketplace hadn’t noticed or appreciated: the rise of share buybacks. Starting in the late ’90s, share buybacks have outpaced dividend distributions in the United States every year. In fact, the US dividend yield on the S&P 500 is at an all-time low of 1.04% — it may cross below 1% for the first time ever, which is astonishing. Our thesis was that a shareholder yield approach — simply cash dividends plus net stock buybacks — outperforms, historically, any dividend strategy you can construct. The “net” matters because it accounts for share issuance, particularly stock-based compensation to the C-suite, which is everywhere in the US — my home state of California’s tech companies love to “make it rain” with stock-based comp. The problem is the average US stock is a diluter: your ownership share goes down every year because they keep issuing more shares. We’ve since demonstrated this in real time across SYLD, FYLD, EYLD (the emerging-market version), and now small-cap and large-cap variants — they’ve done exceptionally well. These funds effectively target a Buffett-like, value-and-quality approach: the average stock coming into the portfolios has roughly a double-digit shareholder yield. Let that sink in — there are dividend funds in the US today, ETFs and mutual funds, that claim to be high-yield or dividend-income funds whose actual dividend yield is lower than their management fee. A negative net dividend yield — an astonishing statistic in 2026. In the US, that shareholder yield is mostly driven by buybacks. In foreign developed and emerging markets, it’s closer to 50-50 — those markets still have more of a culture of cash dividends, so you’ll see yields there closer to 5-6%. But that’s changing, and changing fast. We did a blog post recently calling the UK the “buyback capital of the world” — the UK, China, Japan, and a bunch of other countries have hockey-sticked higher on this. It’s spreading globally, this idea of corporate responsibility: “my stock’s at half of book value, maybe we should consider buybacks.” There’s so much mythology around stock buybacks — we could do a whole podcast on it — and we try to tackle it in the book. Hopefully it’s like a red pill: once you take it, it’s hard to look at investing the same way again, because it feels like you were missing a major piece of the puzzle. [17:46] Frazer Rice: How infuriating is it when the Warrens of the world take aim at buybacks? It feels like an economically illiterate, and certainly politically driven, approach to legislating. To put the clamps on a genuinely useful capital allocation tool — I just don’t understand it. You must look at that and want to shake people and say, you’re missing the point, and you’re not even really targeting the abuses that exist. [18:20] Meb Faber: Well, I try not to be too dismissive of our lovely politicians — the joke I always make is, don’t look down on them, they weren’t taught finance and investing in school either. We don’t teach money and investing in school, and that’s sort of my white whale — I think we should be teaching it as early as elementary school, just basic classes on money. The good news is, roughly a quarter to a third of high schools are now requiring at least one class on the topic. What they’re actually targeting, I think somewhat thoughtfully underneath it, is executive compensation and stock issuance — which is the crazy part, because buybacks are the flip side of that. If a company is consistently loading up its CEO with options and diluting shareholders, and using buybacks to mop that dilution up — that’s what they’re really targeting, but it’s not the buyback itself. It’s the stock-based comp. Buybacks are the exhaust; that happens down the road. The cool part about our methodology is we’re only targeting companies trading at something like 80 cents on the dollar. Buffett is my favorite example here — Berkshire has never paid a dividend, and you might think that’s crazy, but he understands this better than anyone. He’s been writing about buybacks since the 1980s. There’s a great quote from an old Berkshire annual report where he says there’s no better use of cash than buying back your own shares when they’re trading below intrinsic value. Berkshire has bought back a ton of stock over the past several years — smart — they say they’ll buy back at 1.2 times book or below and run a valuation screen. There’s a great, somewhat surprising, takeaway in the book: there’s a myth that CEOs are megalomaniacs who just buy back stock whenever they think it’s expensive or cheap, but if you model it out historically, companies doing big buybacks (say, to retire 5% of market cap) tend to trade at a valuation discount to the market, and companies doing share issuance tend to trade at a valuation premium. There’s a real valuation arbitrage going on — CEOs aren’t dummies. That’s part of what you’re capturing with a shareholder yield approach, as long as it’s consistently recycled. And remember, a buyback is optional — there has to be someone willing to sell into it, so there are always two sides. [20:54] Frazer Rice: Let’s talk about one of my favorite parts of your persona, honestly — your fun critique of CalPERS and what large institutions do (and don’t do well) in managing money, and the inefficiencies that creep in with these big pools of capital as implementation and asset allocation get very complicated and very expensive. Walk me through your thinking when you first noticed the CalPERS phenomenon, and a bit of the history there. [21:34] Meb Faber: My very first book was called The Ivy Portfolio, and we looked at how top endowments manage their assets — Yale, the late David Swensen. One of the strange things about our world in asset management — almost unique among industries — is the assumption that more resources, more money, more access automatically equals better results. That’s true in almost every other endeavor: get the best doctor, you’re probably better off than with your local doctor; best trainer, best nutritionist, best coach, on and on. Not necessarily true in investing. The longer I’ve been in this business, the more I see complexity as often an enemy. So we love to pick on CalPERS — we’ve written a dozen articles: should CalPERS be run by a robot, should they just fire everyone and buy ETFs? We’ve run the simulations, and in many cases these giant institutions — with $500 billion, hundreds of employees, access to literally any fund on the planet — should be able to beat everyone, but they can’t. A very basic buy-and-hold portfolio can mimic what a lot of these top institutions actually deliver. Eventually I got tired of just talking about it. I’ve applied for the CalPERS CIO job at least half a dozen times — they have an opening every other year, listeners, it’s the most dysfunctional organization. I joked on Twitter the other day: who’s had more turnover in the past 10 years, CalPERS CIOs or UK prime ministers? Both totally dysfunctional — I think CalPERS has a slight edge, but it’s close. I said I’d do the job for free — I’d fire almost everyone and get rid of all the illiquid, high-fee investments. But there’s this entire ecosystem of people incentivized to keep the engine running: private equity consultants and the rest of the “two-and-20” crowd. So eventually we said, let’s make this a real, live contest. We launched an endowment-style ETF, ENDW — roughly $150-180 million in it now — and said every June 30th, once we’re through a fiscal year, we’re going to compare results head-to-head. This ETF has no management fee to speak of, all-in under 25 basis points. Can you beat a low-cost ETF like that? Let’s find out. Sure enough, year one — CalPERS has already reported, and they didn’t do badly, but it was basically like a 60/40 portfolio; you’d have been just as well off doing 60/40 and moving on. Our endowment-style allocation actually replicates the average endowment quite well — a nice global mix of global stocks, global bonds, and global real assets (gold, TIPS, REITs, and so on — that real-assets sleeve is one a lot of people leave out). To get closer to a Swensen-level result, you need a couple more ingredients, in my view: you can approximate something like private equity with small-cap value, and approximate the broader endowment risk profile with a bit of leverage, plus tilts to value, global exposure, and trend-following. We’ll see how year one shakes out once all the endowments report — UNC might actually beat us because they had a huge stake in SpaceX, so congrats to Chapel Hill. But I think year one goes to me, sorry to say, CalPERS. I’m going to be a giant irritant on this for years to come. The cool thing is you now have a genuinely investable benchmark. Every endowment investment committee suddenly has to ask, with real fiduciary teeth: can we beat this low-cost ETF? And if we can’t, what are we even doing — why are we studying all these crazy illiquid partnerships instead of just buying a basket of ETFs and calling it a day? That’s going to be an awkward conversation in a lot of boardrooms. [25:45] Frazer Rice: Two comments on that. First — isn’t there someone in the state of Nevada doing something similar, basically running one of the state pension pools with a team of about three people? [25:51] Meb Faber: Yes — we had him on the podcast. I told him, look, you’re putting your money where your mouth is on this. I won’t do his story justice here, I’ll tell you about it off-air — but it’s a great example that this doesn’t have to be as hard as people make it out to be. Frazer Rice: The second thing is — anytime I’ve talked to people in the industry about this, they come back and say, “yes, we technically have an infinite investing horizon, but we have very rigid liquidity needs, so we need to be complex, because our liquidity needs can shift at any moment.” Meanwhile, on one hand I’m thinking, that complexity doesn’t actually help you with liquidity, as far as I can tell — and on the other, it feels like a bit of a convenient excuse. Do you have a response to that? [26:56] Meb Faber: Oh boy, I’ve got a bunch. The endowments famously got caught upside-down in 2008-2009. They only mark their portfolios once a year, June 30th — I wish we could all do that; maybe we should just tell clients, you’re only allowed to look once a year. They were probably down roughly half in ’08-’09, and the illiquid positions were probably down even more. A lot of them got badly offsides, and I don’t think many of them have fully learned the lesson — if you look at the amount of private allocations still sitting in a lot of these portfolios today, it’s a massive amount. I hope they’ve learned the lesson. We’ll see. But it’s a story as old as time — we just saw a version of it recently with a fund blowup, a basic, one-oh-one level failure of situational awareness and position sizing: you over-lever a portfolio, you get taken out of the game, you lose all your money, and then you’re out of chips at the poker table. You watch these mistakes happen at the upper echelons of finance and wonder how it’s still happening — and the core problem is that the career incentives of the people running the money don’t necessarily match the actual investment problem. Yale gets a pass. When Swensen’s successors hit a rough patch, how long do they get a pass? Because Harvard has been a total mess for the last 20 years — there are entire books written about the Harvard endowment, which used to be the Yale before Yale. The Harvard Crimson ran article after article saying, you’re overpaying people, what’s going on here — and the fund would underperform and nobody would actually lose their job over it. That’s the real problem, and I have some sympathy for how hard it is to fix. You deal with a version of this on the personal client side too, with multigenerational wealth — it’s almost an unsolvable structural problem for a Harvard, an endowment, or a CalPERS, because — take Harvard — you’ve got current students, alumni, future students, professors, the people who work at the endowment itself, all with completely different incentives and interests. It creates a genuinely absurd situation where, in no realistic scenario, should the resulting portfolio look like what they actually end up with. It’s an outright disaster, structurally. [29:36] Frazer Rice: It reminds me of a car designed by committee — you end up with this stitched-together Frankenstein’s monster of a product that was never going to work or sell, and it ends up sinking the company. Meb Faber: Yeah, yeah — a Rube Goldberg machine is not what you need. But there’s a reason our endowment ETF, out of the roughly 20 funds we’ve launched, has gotten the least attention — even though it’s now about $5 billion in assets with over a hundred thousand investors. It’s received the least publicity of any ETF we’ve ever done, because it doesn’t benefit anyone in that whole existing ecosystem — it’s actually a genuine threat to it. I was at an institutional conference up in Santa Barbara, at a wine happy hour, talking to three women who run three of the most famous pension and endowment pools of real money in the country. We’d just launched an endowment-style ETF, and they just stared back at me with these icy daggers. I said, oh, sorry — I’m not really a competitor to you, you should easily be able to beat me, I’m just the table stakes. But I think they realized that’s probably not true — they’re going to have a very hard time beating me, which doesn’t exactly make me anyone’s friend. I’m the anti-Switzerland of asset management. [31:16] Frazer Rice: Meb, how do people find the firm, find the book, find you? [31:24] Meb Faber: With a name like Meb, it’s easy. Cambria Funds is the day job, with the ETFs. Meb Faber is the old blog, podcast, and Twitter presence — you can find that just about anywhere. And if you find yourself in Los Angeles, Manhattan Beach, come say hi. We’d love to hear from you if you pick up a copy of the book, Investing in America — let us know what you think. Frazer Rice: Really cool stuff. Thanks, Meb, for being on. This was a blast — let’s do it again. Meb Faber: Let’s do it. [31:50] Close (produced VO): This podcast is for educational and entertainment purposes. It is neither investment, legal, nor tax advice. It does not represent the opinions of the employers of the host or guests. https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

What happens when an FDA advisory committee recommends opening the door to peptide compounding, but FDA staff strongly disagree? In this episode, we unpack the FDA Pharmacy Compounding Advisory Committee's recommendation to add six of seven peptides under review to the 503A Bulks List for uses ranging from obesity and wound healing to insomnia, despite agency staff raising concerns about insufficient safety and effectiveness data, limited clinical evidence, and potential safety risks. We also explore why the recommendations are not a green light for compounding or marketing these substances: FDA must still complete a formal rulemaking process, and the agency is not required to follow the Committee's advice. For compounding pharmacies, wellness providers, telehealth platforms, manufacturers, and investors, the key takeaway is clear: enforcement risk remains, and caution is still warranted. Hosted by Simone Roach. Based on a blog post by Donnelly L. McDowell and Cristina Ferretti.

Connect With ChazIn December 2006, John Vasquez attempted suicide. That is how he describes it. The person he was that day, a man drowning in opiate addiction and low self-worth, died. He considers it the beginning, not the end.Fourteen years later, the COVID pandemic shut down the gym he had built using Alex Hormozi's Gym Launch program, and he found himself sleeping on his parents' couch with two kids, back in the house he grew up in, watching his parents' same patterns around money and fear play out in real time. That was the moment he drew a line in the sand.Today Coach JV runs three seven-figure business ecosystems, has a Rockefeller Trust set up for his family for generations, and has built a massive social media following teaching financial literacy, micro and macroeconomics, and cryptocurrency education to people who were never taught any of it. In this conversation with Chaz Wolfe, Coach JV breaks down his 5-part financial framework, why Ray Dalio is the lens through which he reads the global economy, why paying yourself first is not just a strategy but a frequency shift, and how he is raising his kids to be the first generation to break the pattern for good.Key Takeaways:Drawing the line in the sand is not a motivational phrase. It is a moment when you become more committed to the pain of change than to the pain of staying the same. That specific shift is what changes the trajectory.You have to give up something to become something. And most people are addicted to their old self. The subconscious programming laid down in childhood drives adult behavior more than most people ever acknowledge.Coach JV's 5-part financial framework: Foundation, meaning rewire your belief system around money and trace where it came from. Financial Literacy, meaning understand what money actually is, how banks work, and what the Federal Reserve has done to the dollar since 1913. Discipline, meaning budgeting and asking do I need this or do I want this. Income Creation. And finally, Protection, Compounding, and Growth.The US dollar has collapsed 99 percent in purchasing power since the Federal Reserve was created in 1913. School, job, 401(k) is a strategy of hope. You are hoping the market aligns when you retire. That is not a plan.Pay yourself first every single time. Before bills. Before spending. Money goes into your freedom account first. What is left is what you live on. This changes your frame of mind and eliminates frivolous spending automatically.America is at 120 percent debt-to-income ratio. The average middle-class American needs to earn $160,000 per year to truly be middle class now. The regional banks are in a tough position. Bond yields inverted in 2023. These are not opinions. These are Ray Dalio's documented patterns.Cryptocurrency is going to move significantly on the back end of this cycle. But what goes up must come down hard. Buy the rumors, sell the news. When the mainstream is telling you to get in, you should have been out days ago.Define your principles before anything else. For Coach JV: business principles are integrity, honesty, and uncompromising belief in God. Personal principles are peace, freedom, and family structure. If anything disrupts those three, the answer is a hard no. A $10 million contract offer that disrupts family structure is still a no.Ask your son when he falls: are you hurt or are you scared? Manage what is hurt. Acknowledge the fear. Then get back up and do it again together. This is the framework Coach JV uses to rewire what he never received.Everything happening in the global economy right now is a historical pattern. It has happened before. When you understand the waves of energy, it is the greatest time in human history to build wealth for your family if you are paying attention.If you are a contractor business owner doing $1M+ and you feel stuck in the day-to-day, we built GTK for you.Through peer mastermind and 1:1 coaching, we help you:increase profitinstall real systemsbuild a team that runs the businessget your time backVisit www.gatheringthekings.com for information on how to apply.Connect with Chaz Wolfe (Host):WebsiteFacebookInstagramLinkedInYouTubeProfit Starts with Better Books!Clean books. Clear reports. Monthly bookkeeping built by business owners, for business owners.Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the showLike what you heard? Share this episode with a friend and leave us a review on Apple Podcasts or Spotify! Join the conversation by visiting GatheringTheKings.com and apply to connect with other high-performing entrepreneurs and their families.

Where Part 1 followed the companies, Part 2 is about the person behind them. Picking up from Mukesh Bansal's move from one venture to the next, this half gets into how he finds talent ("work with them for six months"), the mental models he runs his life by, and the beliefs underneath them. He explains why rationally no one should start a company, how he processes every rejection as "no means not now", why he writes three books by simply showing up to a blank page, and how he separated the longevity basics he trusts from the biohacking he no longer does. It ends close to home: loyalty as loyalty to a mission, what he wants for his two children, why parents' expectations matter less than they did, and a life he rates an 8 out of 10.Chapters0:00  Where we left off1:46  Finding talent: "work with them for six months"3:23  The one open-ended question he asks5:57  Winning vs looking good8:00  The compounding argument, revisited9:40  Learning vs winning: drawing the 2x211:17  Three books, and the annual look-back16:18  Making time to think in a full life18:45  What a chief of staff is actually for21:27  "No means not now" and other mental models25:57  How he writes a book28:30  How health became a throughline31:24  From ecosystem to the longevity basics34:29  Why strength training matters after 5038:08  Why he runs SparX, and the deep-tech turn44:05  Loyalty to a mission, and the number two50:35  The Apple teaching model52:52  Three adjectives, and being "scary" to juniors55:30  His kids' worldview57:54  Do parents' expectations still matter?1:00:12  Weekends, food, and reading now1:02:17  Rating his life an 8Quotes[8:44] "I don't know if this rocket thing will work. But if it works, it'll take at least ten years… they said, we are willing to work on it for the rest of our lives."[21:56] "I call this no means not now. That's how I process all the nos in my life."[24:59] "Zomato was started in 2007. They did not pivot into food delivery till 2017."[26:05] "Just show up and stare at a blank page for an hour. Sooner or later you'll start writing."[61:43] "I feel very privileged and very fortunate. So many lucky breaks have worked out for me."Frameworks & mental modelsNo means not now: process every rejection as timing, not a verdict; it protects the ego and the relationship.Long-term patient, short-term aggressive / product is marketing: charge hard daily, give the ten-year game room, and let a product people love do the selling.Horizontal compounding: compound entrepreneurial skill across ventures, not tenure in one sector.Loyalty to a mission: the durable teams are bound to an unfinished job, not to a person; build a number two and give people room.The longevity basics beat biohacking: sleep, eat less, move, strength-train after 50, tend emotional health; the exotic stuff is largely unproven.Credits & sharingThis episode was produced by Rohin Dharmakumar and mixed and mastered by Rajiv CN.Write to us at fp@the-ken.com with your feedback, suggestions, and guests you would want to see on First Principles.If you enjoyed this episode, please help us spread the word by sharing and gifting it to your friends and family.

Roman revolution; Tens, hundreds and thousands; Family organization; Army of the Teutons; Arts of warfare; Germany today; Voluntarism; Government funding for private schools?; Sacrifice; Parental involvement; Removal of history in schools; Bible and government; Capitalism?; Socialism?; Knowing the "real" problem; Seeing our own faults; Degeneration of Sweden; Repentance; Honoring father and mother; Corban of Pharisees; Herod's welfare; Cain and Abel; Seeking God's opinion; Altars?; Two trees (sources); Drowned cat story; Darkened eyes; Idiotes; Knowing Moses and Christ and their Way; Christ's commands; Organized Christianity; Sovereignty?; Joining the Living Network; Pure Religion; Conquered people; Nicolaitan and Balaam; Jesus set the captive free; Welfare snares and traps; Forcing your neighbor; Socialism in America; Setting your neighbor free from your desire for them to provide your benefits; Leaven of modern Christianity; Loving the light; Born again?; Rome's free bread; Public religion; Strengthening the poor; The Sin of Sodom; National Adultery?; Force vs Charity; Fleshpots?; Tithes; Tribute; Freewill offerings; Allegiance vs Faith; "legal"; Scillitan Martyrs; Ring of Power; Coveting neighbors' goods; Leading the blind; Are you beginning to see?; Mt 15:14; Lk 4:18; Share the light given you; Going the way of righteousness; Will God show you?; Loving others; Jn 9:39 - Judgment; Lk 6:39; Perfection?; Ability to make things; Work and sacrifice; What is truth?; Viewing History; Societal degeneration; Pices of the puzzle; Chaos from the Tree of Knowledge; Solution in the Tree of Life; Holy Spirit; "We the People"; Puppeteering puppeteers; Supporting Righteousness; Evolving economics; Just weights and measures; Capitalism; How the kingdom functions; Human resources?; Evidence of sin; Sodomy, divorce, abortion; Sacrificing unrighteousness; Born again - in the kingdom of God; Self-infliction of injury; Compounding bad choice; Early Church = entire social welfare for Christians; Follow the ways of Christ, Moses and Abraham.

A well-written blog post gets you noticed. But for data scientists who want to build authority that compounds over time, it's just the beginning. Every piece of writing is a potential stepping stone to something bigger - a conference talk, a book deal, or an opportunity you couldn't have anticipated.In this Value Boost episode, Cynthia Dunlop joins Dr Genevieve Hayes to explore how data scientists can convert blog writing into bigger opportunities and what it actually takes to make the leap from blog post to book.You'll discover:How conference organisers actually find their speakers — and why blogging is the answer [02:35]How acquisitions editors scout for authors and why you don't need a huge following [03:39]The low risk way to find out if you're ready to write a book [06:57]How each new opportunity compounds the authority you've already built [08:10]Guest BioCynthia Dunlop is the co-author of Writing for Developers and Senior Director of Content Strategy at ScyllaDB. She has co-authored four books for software developers and tech leaders and authored hundreds of articles for publications including TechCrunch, IEEE Computer, and The New Stack.LinksConnect with Cynthia on LinkedInFollow Cynthia on SubstackConnect with Genevieve on LinkedInBe among the first to hear about the release of each new podcast episode by signing up HERE

Is a Health Savings Account Right for You? Episode 395 – A Health Savings Account, or HSA, is one of very few financial vehicles considered “triple tax advantaged.” You can get a deduction going in, the money grows tax-free, and the money also comes out tax-free. But they're not for everybody as there are some major caveats. More SML Planning Minute Podcast Episodes Transcript of Podcast Episode 395 Hello, this is Bill Rainaldi, with another edition of Security Mutual's SML Planning Minute. In today's episode: is a Health Savings Account right for you? What would you say if someone told you about an investment vehicle where you get a tax deduction going in, the money in the account grows tax-free, and the withdrawals are tax-free when they come out? Such a product exists, but it's not quite that simple. An Individual Retirement Account or IRA doesn't work that way. You get a deduction going in, but you pay income tax when you take the money out. A Roth IRA lets you take the money out tax-free (with certain qualifications), but you don't get a deduction when you put the money in. A Health Savings Account, or HSA, is one of very few financial vehicles considered “triple tax advantaged.”[1] You can get a deduction on monies going in, the money grows tax-free, and the money also comes out tax-free. But there are some major caveats to understand. HSAs don't work for everyone. Only certain people can contribute, and when you take the money out, there are some conditions that need to be met if you want to take full advantage of the tax incentives. Here's how an HSA works. To contribute, you need to be part of what the Internal Revenue Service or IRS calls a “High-Deductible Health Plan.” The IRS defines a high-deductible health plan as one that requires an annual deductible. A deductible is the amount one must pay out-of-pocket for healthcare before health insurance coverage will share in the costs. In 2026, the minimum deductibles for a high deductible HSA health plan are set at $1,700 for coverage on yourself only, and $3,400 if the coverage includes your family.[2] Also, the out-of-pocket maximum cannot be higher than $8,500 for self-only coverage and $17,000 for family coverage. There are more rules. To contribute to an HSA, you can't be enrolled in another plan that is not considered HSA-eligible, nor can you be someone claimed as a dependent on someone else’s tax return. If you're not sure whether your plan qualifies, you will need to ask either the benefits administrator where you work or the plan provider. And for the record, Medicare does not count as a high-deductible medical plan. So, you can't participate in an HSA if you're covered by Medicare. As with almost any tax-advantaged investment vehicle, there are contribution limits. For 2026, you can contribute up to $4,400 for yourself, or $8,750 if your high-deductible plan covers your family.[3] And much like a 401(k), your employer can match your HSA contribution. In fact, in 2024 approximately 84 percent of employees covered by a qualified HSA health plan also received a contribution from their employers.[4] Note that the limits above are overall limits that include both the employee and, if applicable, employer contributions. Then there's the issue of distributions from the account. Distributions can be tax-free, but with some significant restrictions. To be tax-free, the distributions must be used for what the IRS calls “qualified medical expenses.” And what are qualified medical expenses? These might include hospital care, ambulance services, hearing aids, lab fees, dental and vision care, and other things. You can even use an HSA for health-care-related travel, massage therapy and substance abuse treatment.[5] [6] An HSA can be used for expenses both big and small. If your distribution doesn't meet the qualifications, any withdrawals after age 65 are considered fully taxable, like a traditional IRA or 401(k). Before age 65 there is also a 20 percent early withdrawal penalty. This means that, if necessary, you could treat an HSA as a secondary retirement plan. But of course, if you have qualified medical expenses that need to be paid, the taxation incentive would make them a better option. When it comes time to withdraw money as needed, you can either pay the provider directly from the HSA account (many providers offer the use of a debit card tied to the account) or pay the provider yourself and get reimbursed from the account.[7] Note that an HSA is different from a Flexible Spending Account or FSA. An FSA is another, albeit generally less popular, type of account designed to help with medical expenses. The employer generally owns an FSA, whereas the employee owns an HSA. But an FSA is also, in most cases, a “use it or lose it” type of account. At the end of the year (plus an optional grace period), you lose any money that's left over in your FSA.[8] Also note that in most circumstances, you can have a general-purpose FSA or HSA, but not both.[9] An HSA has no such restriction when it comes to how long it takes to use it. If you don't spend the money, it rolls over within the account. It belongs to you forever, even if you switch jobs. Of course, these sums, invested over several decades, can amount to a significant amount of money by the time you use them. Compounding plays a role here just like most other investment vehicles, only this time it may all be potentially tax-free. One final thought about HSAs. As we've mentioned before, the cost of health care for seniors can be staggering. According to Fidelity, a 65-year-old individual may need an after-tax total of $172,500 to cover the cost of health care expenses in retirement.[10] In the right circumstances, an HSA can be a tax-efficient way to fund some of those costs. [1] Fidelity Learn. “What is an HSA, and how does it work?” Fidelity.com. https://www.fidelity.com/learning-center/smart-money/what-is-an-hsa (accessed July 23, 2026). [2] Fidelity Learn. “HSA contribution limits and eligibility rules for 2026 and 2027.” Fidelity.com. https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits (accessed July 23, 2026). [3] Id. [4] Fidelity Learn. “What is an HSA, and how does it work?” Fidelity.com. https://www.fidelity.com/learning-center/smart-money/what-is-an-hsa (accessed July 23, 2026). [5] MetLife. “What Can I Use My HSA for in 2026?” MetLife.com. https://www.metlife.com/stories/benefits/hsa-qualified-expenses/ (accessed July 23, 2026). [6] Miller, Kathryn. “What clients miss about HSAs — and how advisors can help.” Financial-Planning.com. https://www.financial-planning.com/news/what-clients-miss-about-hsas-and-how-advisors-can-help (accessed July 23, 2026). [7] Fidelity Learn. “Spending with your HSA.” Fidelity.com. https://www.fidelity.com/go/hsa/how-to-spend (accessed July 23, 2026). [8] Healthcare.gov. “Using a Flexible Spending Account (FSA).” Healthcare.gov. https://www.healthcare.gov/have-job-based-coverage/flexible-spending-accounts/ (accessed July 23, 2026). [9] Fidelity Learn. “HSA contribution limits and eligibility rules for 2026 and 2027.” Fidelity.com. https://www.fidelity.com/learning-center/smart-money/hsa-contribution-limits (accessed July 23, 2026). [10] Fidelity Learn. “What is an HSA, and how does it work?” Fidelity.com. https://www.fidelity.com/learning-center/smart-money/what-is-an-hsa (accessed July 23, 2026). More SML Planning Minute Podcast Episodes This podcast is brought to you by Security Mutual Life Insurance Company of New York, The Company That Cares®. The content provided is intended for educational and informational purposes only. Information is provided in good faith. However, the Company makes no representation or warranty of any kind regarding the accuracy, reliability, or completeness of the information. The information presented is designed to provide general information regarding the subject matter covered. It is not to serve as legal, tax or other financial advice related to individual situations, because each individual's legal, tax and financial situation is different. Specific advice needs to be tailored to your situation. Therefore, please consult with your own attorney, tax professional and/or other advisors regarding your specific situation. To help reach your goals, you need a skilled professional by your side. Contact your local Security Mutual life insurance advisor today. As part of the planning process, he or she will coordinate with your other advisors as needed to help you achieve your financial goals and objectives. For more information, visit us at SMLNY.com/SMLPodcast. If you've enjoyed this podcast, tell your friends about it. And be sure to give us a five-star review. And check us out on LinkedIn, YouTube and Twitter. Thanks for listening, and we'll talk to you next time. Tax laws are complex and subject to change. The information presented is based on current interpretation of the laws. Neither Security Mutual nor its agents are permitted to provide tax or legal advice. The applicability of any strategy discussed is dependent upon the particular facts and circumstances. Results may vary, and products and services discussed may not be appropriate for all situations. Each person's needs, objectives and financial circumstances are different, and must be reviewed and analyzed independently. We encourage individuals to seek personalized advice from a qualified Security Mutual life insurance advisor regarding their personal needs, objectives, and financial circumstances. Insurance products are issued by Security Mutual Life Insurance Company of New York, Binghamton, New York. Product availability and features may vary by state.​ SubscribeApple PodcastsSpotifyAndroidPandoraby EmailTuneInDeezerRSSMore Subscribe Options

The Learning Leader Show with Ryan Hawk www.LearningLeader.com The Price of Becoming is a USA Today, LA Times, and Publishers Weekly Bestseller! www.LearningLeader.com/Becoming This is brought to you by Insight Global. If you need to hire one person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world has the hustle and grit to deliver. My Guests:  My dad, Keith Hawk (also known as Pistol), spent decades leading sales teams at LexisNexis and has taught leadership and public speaking to audiences all over the country. He's the author of multiple books including Get Real Selling. Pistol has that rare ability to be both universally liked and 100% respected by all who know him. My brother AJ Hawk was an All-American linebacker at Ohio State, where he won a national championship. He played 11 years in the NFL, won a Super Bowl with the Green Bay Packers, and retired as the franchise's all-time leading tackler. Now you'll see him every weekday on ESPN as a co-host of the Pat McAfee Show Notes: Key Learnings Be a consciously competent leader. Pistol's framework: you have to understand the processes of the work you're asking people to do, not just the end result. First-line leaders have to know the work at a great level of detail.  One tactical way to get there: do after-action reviews on both wins and losses. Know why you win. Know why you lose. Describe both in detail. That's how you earn vivid clarity. Give people vivid clarity. Don't tell your team to "go get the ball carrier." Tell them precisely how to handle each situation. Great leaders are great because they give vivid clarity to the people they're leading on how to do the thing. Stack days. If I can't win by being brilliant, I can win by being able to endure. Just get up and do the thing day after day. Growing up, AJ and I had an unwritten rule: no matter what we did the night before, we were going to the first available lift. You don't have to go to bed early. But you're going to work no matter how you feel. When AJ knew he could do it. Freshman year at Ohio State. A tunnel screen play in camp. He read it perfectly, took off, and delivered a textbook hit on the receiver. That was the moment: "Football's football. These guys are all monsters. But I think I can find a way to make some plays." How to write a book: get up an extra hour early for 200 days in a row and never miss a day. Anybody can do it. You just have to be willing to make the decision, and then follow through, and then follow through again. My scout team Super Bowl. As a scout team QB at Ohio, I picked the Florida game to prepare like it was the real thing. I wore Rex Grossman's number and arm sleeve. Spatted my cleats. I rewrote the practice cards based on real Florida plays. We ended up being in a tight ball game against a national powerhouse. My teammates came back after the game and said practice that week was harder than the actual game. This is when I learned what is possible when prepared for the moment.  The Mike Nolan $10 bill story. When AJ was in college, the 49ers head coach Mike Nolan needed to tip a valet and asked if he had any cash. AJ gave him $10. Weeks later, a handwritten note showed up at AJ's college house with a $10 bill inside and a thank-you note from Mike Nolan. Follow-through. Attention to detail. Paying people back. AJ never forgot it. AJ's delusional confidence in Tahoe. AJ had an unlucky drive that left him 254 yards from the pin, in the first cut. Jack Wagner was still on the green in front of us. AJ pulled out a four iron. I told him to wait. He said, "I'm just gonna go, and hit it on the green." He flushed it. Landed on the green 25 feet from Jack. There's power in belief, speaking things into existence, and then doing them.  Irrational self-confidence isn't irrational. Pistol quoted Bill Simmons: "As long as you believe it's possible, it's possible." Regardless of what it is. My biggest risk: leaving corporate at the end of 2017. I had a VP of sales job, and I left it all to bet on this podcast. Miranda believed in it maybe even more than I did. That combination made it possible. Pistol's biggest risk: August 1st, 1999. He left LexisNexis after 14 years to go be a public speaker. Two years later, on August 1st, 2001, he came back. Both times on his birthday. His career jumped five notches on his return. Sometimes you have to leave to come back better. AJ's biggest risk: hiding a broken wrist during a Super Bowl run. AJ refused an X-ray or MRI so they couldn't shut him down. The trainer taped and casted it. He played the whole season, won the Super Bowl, and made the Pro Bowl. He had surgery to repair it days after the Super Bowl.  The best players are consistent. When I'd talk to AJ's teammates in Green Bay about him, they used the unsexy words: "Most consistent guy on the team. First guy in the weight room. Will be where he's supposed to be on every play." He did that for eleven years. Show up. Every single day. Pistol said it: "Anybody that's been great at something didn't get great on the first day, but they did the right types of things along the way."  Don't grade your kid's games. Grade the effort. "Did you play hard? That's all I care about." AJ said his family doesn't have good or bad games. There's only one question after the game: did you play hard or did you not?  Show them what "hard" actually looks like. Sometimes kids think they're playing as hard as they possibly can when they're not. AJ's brother-in-law Jack Johnson reminded him of this. You can't just say "play hard." You have to describe it. You have to show them. Otherwise they don't know what the standard is. Model it. Don't tell. Leadership is caught more than it's taught. My primary role as a dad and a husband is to be the model. If I have low standards, my kids will have low standards. If I show up every day, they'll learn what showing up looks like. Do all the work. Then trust your instincts. AJ's approach to football. Reinstall the defense from scratch every year. Take fresh notes. So when it's game time, you don't have to think. You just play. The Dinner Guest Draft: Every hundredth episode, we do a draft. This one: pick five living dinner guests.  AJ's table: Michael Jordan Charles Barkley Arnold Schwarzenegger Palmer Luckey Denzel Washington My table: (All dream guests for The Learning Leader Show) Dave Chappelle Dave Matthews Mike Rowe Doris Kearns Goodwin Michael Lewis Pistol's table: (All former guests of the show)  Admiral William McRaven Dan Patrick Nikki Glaser Stephen M.R. Covey Oz Pearlman Champagne Moments a Year From Now My dad: Celebrating his 71st birthday dinner with all of us. AJ: To keep being present with his kids while they're still young. To slow down and enjoy it. Me: A good year of college for the older girls in our family. Reflection Questions Where in your work are you giving people vivid clarity? Or are you handing them broad general directives and hoping they figure it out? What is your version of the Mike Nolan $10 bill story? What small act of follow-through could you do this week that someone will remember for years? Where are you being performative right now, doing something for the audience instead of doing it because you want to be great? What would change if you only did it when nobody was watching? More Learning #600 - AJ, Pistol & Ryan Hawk - Setting the Standard #500 - AJ, Pistol, Ryan & Pat McAfee - Live Your Life as a Movie #400 - AJ, Pistol & Ryan Hawk - The Life Experiences That Shape Our Character Podcast Chapters 00:00 The Arena Invite  01:30 Meet Keith "Pistol" Hawk and AJ Hawk  03:34 What Everyone's Been Up To For the Past Two Years  05:09 What We Learned From Robert Saleh (head coach, Tennessee Titans) and Mike Macdonal (head coach of the defending Super Bowl Champion, Seattle Seahawks) About Tackling  08:50 Be a Consciously Competent Leader. Give People Vivid Clarity.  10:44 Inflection Point Stories: When AJ and Ryan Knew They Could Do It  16:33 How Pistol Spotted the Talent Early  21:32 Why Written Communication Is More Important Than You Think  25:21 The Power of Stacking Days  33:06 The Mike Nolan $10 Bill Story  35:24 Delusional Confidence: The Tahoe Golf Moment  42:51 Irrational Self-Confidence Isn't Irrational  43:15 The Biggest Risks Each of Us Ever Took  47:24 Playing Through a Broken Wrist to Win a Super Bowl  50:38 How to Raise Kids With High Standards  54:28 Regimented vs. Disciplined  59:30 AJ's Hack to Beat a Shellfish Allergy 01:06:00 The Dinner Guest Draft Begins  01:21:21 Draft Recap  01:23:43 The Champagne Question  01:26:33 EOPC  

What does it really take to build sustainable wealth through investing and funnel marketing? In this episode, Kiana Danial, founder and CEO of Invest Diva, reveals her groundbreaking 'Triple Compounding' framework that blends investing in mindset, business, and external assets — all while mastering the generate, automate, and accelerate actions. Kiana shares her personal journey from being fired on Wall Street and struggling with Forex losses to generating over $1 million in revenue using ClickFunnels and building a $20 million investment portfolio. Discover how attending Funnel Hacking Live 2018 and focusing on a single, simple webinar offer transformed her business and mindset. Hear why Kiana debunks the myth that funnels need to be complex, how high-income skills like marketing and sales are essential, and why perseverance and integrity are non-negotiable in building financial freedom. Subscribe for more insights on entrepreneurship, funnel strategies, and wealth-building. Follow Kiana and check the links below to dive deeper into her Triple Compounding method and coaching programs. Follow Kiana on Instagram at the verified @InvestDiva Learn Triple Compounding: https://triplecompounding.com

Sign Up for Our Plus SideZ GLP-1 Patient Support Group - $50https://forms.gle/aHvZiiBXFr6q7NQY7 Linktree Our Favorite Thingshttps://linktr.ee/theplussidezGLP-1 News: New Studies, Lawsuits & CompoundingWhat do the latest GLP-1 studies actually mean for patients?This week, Kim is joined by Maria Rising, GLP-1 advocate, creator of GLP-1 News Now, our special guest News Correspondent. After living with PCOS and surviving a stroke in her 20s, Maria became passionate about helping patients understand the science behind obesity, GLP-1 medications, and access to care.There isn't just one new GLP-1 study every week anymore. There are dozens. Maria follows the research, policy changes, and industry news so patients don't have to. Together, Kim and Maria break down the latest headlines and explain what they actually mean for people living with obesity and metabolic disease.In this episode:- Maria's journey with PCOS, stroke, and GLP-1 treatment- The latest GLP-1 studies and research- Compounding updates and current lawsuits- What new research means for patients- Obesity, metabolic health, and access to care- How to separate headlines from evidenceFor ongoing GLP-1 news, research, and access updates, be sure to subscribe to Maria's Substack and TikTok.TikTok: https://www.tiktok.com/@tirzepatidetalesSubstack: https://glp1newsnow.substack.comThe Plus SideZ Podcast is an educational podcast focused on obesity, metabolic health, and GLP-1 medications. This episode is for informational purposes only and is not medical advice. Always talk with your healthcare provider about questions regarding your treatment.Send us Fan Mail!Support the showKim Carlos, Executive Producer TikTokInstagram Kat Carter,  Producer TikTokInstagram 

Neeraj Verma of NiCE on why AI pilots stall, building agents as small reusable units, and the scale problem personal agents are about to create.Full show notesThis one was recorded live at NiCE World 2026 in Orlando, and Neeraj Verma, Head of AI at NiCE, didn't dodge the hard parts. We started where most enterprise AI conversations should start and rarely do: the outcome. If you can't name what the technology is supposed to pay you back for, you're experimenting for experimentation's sake, and that's the pattern I see stalling pilots everywhere.From there we got into the fast-moving stuff — what an agent actually is, where skills fit, and why the smart move is building small, reusable units of work rather than monolithic agents. Neeraj made a point I keep thinking about: agents aren't humans, they're context engines, and they need small context to execute well. We also dug into guardrails and observability, and the real tension there — you have to have them, but not in a way that doubles your cost or ruins the experience.If you're a technology leader trying to move from pilot to production, or a CX leader watching personal agents start to change what "scale" even means, this is worth your time. The honest through-line: this wave will move faster than any before it, and it still takes real infrastructure and a continuous-innovation mindset to get right.What we coverWhy an outcome has to come before the AI buildWhat an AI agent is, and how skills package tools and processesBuilding small, reusable, modular units of work for agentsContext as compressed enterprise data — and why compression is the hard problemHarness engineering, and "agentic whack-a-mole"Compounding intelligence and what self-learning really means todayPersonal agents, agent-to-agent communication, and the coming scale problemGuardrails, observability, and keeping shadow AI in check STAY CONNECTEDSubscribe to the AI with Maribel Lopez audio podcast: https://www.buzzsprout.com/1947446Subscribe to my LinkedIn newsletter — AI Decoded with Maribel Lopez: https://www.linkedin.com/newsletters/ai-decoded-with-maribel-lopez-7312533413582827520/Lopez Research blog: https://www.lopezresearch.com/research/Follow me on LinkedIn: https://www.linkedin.com/in/maribellopez/Follow me on X: https://x.com/MaribelLopez

What is the “Time Value of Money?” Episode 394 – The time value of money is one of the most important financial concepts there is to understand. It comes into play in almost every financial decision. You don't need to understand the arithmetic, but you should have some sense of where and how the math applies. Doing so may be able to improve the quality of your financial life. More SML Planning Minute Podcast Episodes Transcript of Podcast Episode 394 Hello, this is Bill Rainaldi, with another edition of Security Mutual's SML Planning Minute. In today's episode: what is the “time value of money”? Simple question: what is worth more: a dollar you earn today, or a dollar you earn next year? Most people instinctively know that a dollar earned today is worth more. After all, that's an extra dollar you can spend now on whatever you want. But understanding why is a critical financial concept that few people really understand, and one that applies to pretty much everything when you talk about personal finance. The concept is generally known as the “time value of money.” It's an idea that runs through almost every decision a business or financially sophisticated individual makes. According to the Harvard Business School, the time value of money means that “a sum of money’s value depends on how long you wait to use it; the sooner you use it, the more valuable it is.”[1] In other words, the money you have today is worth more than the same amount that you receive in the future because you have the opportunity to invest that money right now and earn a return on it. Figuring it all out in detail involves a rather complicated series of formulas. We won't get into the formulas here, but Microsoft Excel has tools to help make the calculation process easier. The basic idea is that, if nothing else, you can take the dollar you earn today and invest it. At the end of the year, that dollar will be worth more than the new one you receive at the start of the next year. If your assumed interest rate is six (6) percent, that first dollar will be worth $1.06 by the time the second one arrives. I know it doesn't seem like much of a difference. But after 20 years, the value of that dollar at the same 6% would be $3.21. And remember, we're generally talking about much bigger sums. And compounding, that is, repeating this process over an extended period of time, can make the impact much more significant as the years go by. And when you're considering a regular payment, such as a mortgage or an annuity, the difference adds up even more. Compounding is something we touched on in two recent episodes, one about reverse mortgages and the other about Trump Accounts. As Albert Einstein is alleged to have said, compound interest is “the most powerful force in the universe.”[2] Whether he actually uttered those exact words or not, many present and future retirees understand the value of saving early. The math is equally important but gets more awkward when you want to reverse the process. What is that dollar you're going to get a year from now worth today? This is where a spreadsheet can help. The answer is just over 94 cents. If it's two years, it's about 88 cents. In five years, just under 75 cents. As you might suspect, inflation is a key consideration when it comes to the time value of money. There's another reason a dollar earned today is worth more than a dollar earned in the future. Your money will likely be able to buy less in the future than it does today, simply because prices of most goods and services tend to go up over time. Uncertainty also plays a role. Assume someone owes you money, but the payment is due a year from now. The problem is that things could change over the next year. They might move away, or declare bankruptcy, or decide they don't like you anymore. Nothing is certain until you actually have the money in hand. Note that if there's additional risk that you're not going to get the money in time, or at all, many financial pros will try to handle this using a higher assumed interest rate, or “discount rate.” There are some other areas where the time value of money is a key consideration. One often overlooked example is deciding on whether to make a home improvement that adds to the value of your house. Another might be weighing the pros and cons of buying vs. leasing a car. Yet another might be your decision on when to collect Social Security. Another concept that comes into play—and one that many people rarely consider—is opportunity cost. Once you understand the time value of money, opportunity cost becomes much easier to recognize. There are tradeoffs in any financial decision. Opportunity cost can be defined as the value of what you give up when you forgo one choice in favor of another.[3] Opportunity cost comes along more often than most people realize. The truth is that you finance every major purchase you make, even if you're using cash. If you buy a new car and use your available cash, it will save some money. Since there's no loan, there's no cost to you in terms of interest payments. But there is still opportunity cost. By paying cash, you've given up the opportunity to invest that money elsewhere and earn interest and/or dividends on it. This is a concept few people think through thoroughly. To put it another way, if you want something, you must give up something else. It's just not always easy to see. You don't need to understand the complicated mathematical formulas behind the time value of money. You just need to understand the concept. It can—and should—help you make some of your most important financial decisions. Confused about things like the time value of money or opportunity cost? Your Security Mutual Life insurance agent can help. Your Security Mutual Life insurance agent can augment or help assemble your financial team and coordinate with your attorneys and tax professionals to review your situation and to determine the insurance plan that will best suit your needs and objectives. [1] Cote, Catherine. “Time Value of Money (TVM): A Primer.” HBS.org. https://online.hbs.edu/blog/post/time-value-of-money (accessed July 14, 2026). [2] Schleckser, Jim. “Why Einstein Considered Compound Interest the Most Powerful Force in the Universe.” Inc.com. https://www.inc.com/jim-schleckser/why-einstein-considered-compound-interest-most-powerful-force-in-universe.html (accessed July 14, 2026). [3] Munsey, Bobbie Anne. “8 Opportunity Cost Examples (Plus Definition and Uses).” Indeed.com. https://www.indeed.com/career-advice/career-development/opportunity-cost-examples (accessed July 13, 2026). More SML Planning Minute Podcast Episodes This podcast is brought to you by Security Mutual Life Insurance Company of New York, The Company That Cares®. The content provided is intended for educational and informational purposes only. Information is provided in good faith. However, the Company makes no representation or warranty of any kind regarding the accuracy, reliability, or completeness of the information. The information presented is designed to provide general information regarding the subject matter covered. It is not to serve as legal, tax or other financial advice related to individual situations, because each individual's legal, tax and financial situation is different. Specific advice needs to be tailored to your situation. Therefore, please consult with your own attorney, tax professional and/or other advisors regarding your specific situation. To help reach your goals, you need a skilled professional by your side. Contact your local Security Mutual life insurance advisor today. As part of the planning process, he or she will coordinate with your other advisors as needed to help you achieve your financial goals and objectives. For more information, visit us at SMLNY.com/SMLPodcast. If you've enjoyed this podcast, tell your friends about it. And be sure to give us a five-star review. And check us out on LinkedIn, YouTube and Twitter. Thanks for listening, and we'll talk to you next time. Tax laws are complex and subject to change. The information presented is based on current interpretation of the laws. Neither Security Mutual nor its agents are permitted to provide tax or legal advice. The applicability of any strategy discussed is dependent upon the particular facts and circumstances. Results may vary, and products and services discussed may not be appropriate for all situations. Each person's needs, objectives and financial circumstances are different, and must be reviewed and analyzed independently. We encourage individuals to seek personalized advice from a qualified Security Mutual life insurance advisor regarding their personal needs, objectives, and financial circumstances. Insurance products are issued by Security Mutual Life Insurance Company of New York, Binghamton, New York. Product availability and features may vary by state.​ SubscribeApple PodcastsSpotifyAndroidPandoraby EmailTuneInDeezerRSSMore Subscribe Options

Some of the biggest threats to your wealth do not look especially dangerous at first. They often show up as small side bets, idle cash, or "smart" strategies that seem too minor to affect the larger plan.  Over time, however, those decisions can quietly work against everything your primary portfolio is trying to accomplish. Today, we're looking at the hidden financial drag that can make even a high income and disciplined savings plan less effective than it should be. Topics Discussed: What "reverse compounding" is and how small, repeated losses erode long-term wealth. Why the real cost isn't dollars lost, but what that money could have become. How leveraged ETFs suffer volatility drag, losing value even when the index recovers. Why most cryptocurrencies go to zero, and how to size Bitcoin properly. A three-bucket framework separating operating cash, core portfolio, and speculative capital. Resources Mentioned: ERdocadvisor.com

FDA Advisory Panel Backs Six Peptides for Compounding Pharmacies Phil kicks things off with an update on the torn upper horn of his lateral meniscus, sustained just before a meet he ran anyway (600 lb squat, 600 lb deadlift) rather than sit out with his son. From there the hosts pivot to a Verywell Health piece by Amber Raiken on the FDA's Pharmacy Compounding Advisory Committee recommending looser restrictions on six peptides — BPC-157, TB-500, KPV, MOTS-c, Selank, and Epitalon — while rejecting a seventh, Emoxypine, over weak human results. Mike, drawing on a recent conversation with attorney Rick Collins, explains the split between FDA researchers (mostly opposed) and the non-physician advisory panel (mostly in favor), and why compounding-pharmacy oversight could at least guarantee sterile, accurately-dosed product versus the unregulated grey market. The group works through the thin evidence base for BPC-157 — including a sham-surgery knee trial showing a large placebo effect — alongside real anecdotes, including Phil's own faster recovery after hip surgery. They also cover the money and politics behind the FDA's shift, the rise of pre-loaded peptide pens mirroring GLP-1 marketing, sermorelin's prior FDA history, grey-market use of unapproved compounds like retatrutide, and how peptides moved from underground research-chemical circles in the '90s to today's mainstream, driven largely by biohacker influencers and the normalization of GLP-1 injections — now increasingly popular with women as well as men. They close by comparing peptide-assisted recovery in elite athletes (citing Patrick Mahomes) to the old anabolic-era "impossible" recovery stories, and debate what a sane regulatory and tracking system for peptides could look like. 00:00 Welcome and Hosts 00:20 Phil's Meniscus Tear and Meet Recovery 05:02 Transition to Peptide Regulatory News 06:18 FDA Advisory Panel and the Six Peptides 12:11 BPC-157 History and Anecdotal Evidence 17:02 Network Announcements and Newsletter 19:58 FDA Politics and Compounding Pharmacy Incentives 30:07 Six Peptides List and Emoxypine Rejection 34:59 A Proposal for Peptide Regulation and Tracking 37:28 How Peptides Reached the General Public 46:48 Elite Athletes and Faster Recovery Anecdotes 50:06 Wrap and Disclaimer Donate to the show via PayPal HERE.You can also join Dr Mike's Insider Newsletter for more info on how to add muscle, improve your performance and body comp - all without destroying your health, go to www.ironradiodrmike.com Thank you!Phil, Jerrell, Mike T, and Lonnie

The Learning Leader Show with Ryan Hawk www.LearningLeader.com This is brought to you by Insight Global. If you need to hire one person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world has the hustle and grit to deliver. My Guest: Jack Raines is a writer and investor. At 24, he quit his corporate finance job at UPS, bought a one-way ticket to Barcelona, and spent the next year traveling through 25 countries while writing a newsletter that grew to hundreds of thousands of readers. He went on to earn an MBA from Columbia, help build Sherwood News at Robinhood, and join the venture capital firm Slow Ventures, where he invests in creators. His first book, Young Money: A Field Guide to Finding Wealth and Purpose in Your Twenties, is out now. Key Learnings Jack's Grandma Ruth took him to Africa when he was 11. She was in her late 60s. She had the money. She said: "I can spend it on you now or leave it to you when I'm dead. This is better." Money has no value until you exchange it for something. We need to decide what we want that to be. Every year of your 20s is worth $10 million. (Nikita Bier) You'll never have this window of flexibility again. Say yes to interesting experiences in your 20s. Your income is going to climb exponentially anyway. Don't save $500 at the cost of a memory. Move to where the action is. Jack moved to New York for business school. Then San Francisco for a job. Then back to New York. High slope of learning. High slope of contact with good people. Network amplifies ability. It doesn't create it. A million times zero is still zero. A million times two is two million. The only real risk is not doing anything. Every opportunity in life comes through a person. The best networking tool is doing great work. How did Gracie Abrams open for Taylor Swift on the Eras Tour? She wrote great music. Taylor noticed. Taylor called. In your 20s, potential is valued at a premium. In your 30s and beyond, proof of work matters more. Experimenting when you are young speed-runs the learning curve. You develop the skill of taking shots. That skill compounds.  It's much harder to start being risk-on at 35 if you weren't risk-on at 25. Personal finance is simple. Spend less than you make. Build a six-month emergency fund. Take the 401(k) match. Contribute to your IRA. Don't gamble on individual stocks. Stay invested. Stay employed. Don't go into credit card debt. Don't get divorced. User error interrupts compounding more than anything else. Set up the boring foundation. Then stop touching it. Most retirees never touch the principal. (Nick Maggiulli) They stack money out of fear, then die with more than they started with. Daniel Kahneman on loss aversion: the pain of losing $100 is twice as strong as the joy of gaining $100. That's why people over-save. Your burn rate at 70 is way lower than at 45. No kids at home. No tuition. Less energy to do stuff. Plan accordingly. Bill Perkins' Die with Zero philosophy... A useful insight was in the first chapter: his best friend took a payday loan at 23 to backpack Europe for three months. Same career trajectory as Bill. Just way more fun at 24. People don't want to think about their mortality. So they focus on making the number go up. If you actually internalized that you're going to die, you'd be more intentional about your time and money. Jack's champagne moment a year from now: He sells a ton of copies of it. And it's still relevant. Reflection Questions Where are you spending your best years earning money you'll never actually enjoy? What would change if you accepted that your peak-energy window is closing? Where are you standing still because the risk of moving feels bigger than the risk of staying? What does the only real risk (not doing anything) look like in your life right now? What is the great work you could do that would make the right person notice you?  More Learning #539: Jack Raines - Playing Infinite Games, Living Life Backwards & Building Your Platform #548: Nick Maggiulli - The Power of Compounding #373: Bill Perkins - How To Get All You Can From Your Money & Your Life Podcast Chapters 00:00 The Price of Becoming - Pre-Order Now!  01:38 Meet Jack Raines  03:27 Grandma Ruth Took Him to Africa When He Was 11  08:04 Why Every Year of Your 20s Is Worth $10 Million  12:12 Quitting UPS at 24 for a One-Way Ticket to Barcelona  15:10 How to Increase Your Surface Area for Luck  20:00 Where You Live Is Who You Become  22:00 Why Memories Compound Faster Than Money  26:23 The Financial Stability Basics Nobody Wants to Hear  29:00 Get the Boring Stuff on Autopilot  31:15 Why Retirees Never Touch the Principal  34:02 The Bad Trade of Saving During Your Best Years  37:36 The Bill Perkins Die With Zero Debate  39:15 Experimentation, Agency, and the Only Real Risk  42:53 The Best Networking Tool in the World: Do Great Work  44:10 The Champagne Question: Making the Book Matter a Year From Now  45:53 EOPC

Last week, Ralph, along with our constitutional law expert, Bruce Fein, organized another symposium in Washington DC on impeaching Donald Trump. On today's program, we play you highlights from that symposium with eight of the participants, each of whom are going to give listeners their perspective on why Donald Trump should be impeached even before the midterm elections.The rhetoric from many Democratic leaders has not kept up with the horror and the urgency of what [Donald Trump] is inflicting on America and the American people. He has moved very, very quickly to develop a fascist dictatorship embodying a kleptocratic corporate state that is marked by non-regulation, tax cuts for the wealthy, and tax escapes for the wealthy and major corporations, as well as expanded corporate welfare in the midst of personal and institutional two-way bribery and extortion. It's very important to punctuate the seriousness of what he's already done.Ralph NaderCelinda Lake is a political strategist and president of Lake Research Partners.What I love about polling is: conventional wisdom is wrong about 90% of the time, plus or minus 5%. Beltway conventional wisdom is wrong about 100% of the time, plus or minus 5%. So, “Everybody knows impeachment is unpopular.” No, it's not. It's very popular. A majority of people support it. “Everyone knows that it'll energize the other side.” No. The other side, to the extent they're going to be energized, they're already energized. We need to energize our side. We need to get our people out to vote… “Everyone knows it's very volatile.” No, it's not. Attitudes about impeachment track with job performance… And finally, “Everybody knows that nobody understands impeachment.” Well, frankly, voters understand it better than a lot of elected officials.Celinda LakeSuparna Reddy is the Senior Counsel for Free Speech For People.Let us be clear: Congress should impeach and remove Trump for each and every one of these hundreds of offenses. And we have a duty to record his every abuse of power. But in the process, we should not miss the forest for the trees— Trump is intentionally and systematically dismantling our democratic institutions to consolidate his own power and line his own pockets.Suparna ReddyRichard Painter is the S. Walter Richey professor of corporate law at the University of Minnesota Law School and was the chief White House ethics lawyer from 2005 to 2007.We have seen serious, indeed, tragic financial conflicts of interest in the executive branch never before seen in the history of our country—unless we look at our very early Presidents who held vast plantations with slave labor, a clear economic conflict of interest with their official duties. A conflict of interest shared by many Senators and Representatives and Justices of the Supreme Court, and indeed a tragic conflict of interest for the first eighty years of our history that ended only with a bloody civil war. But since then, we have not had at least a President who is embroiled in financial conflicts of interest with his official duties.Richard PainterDoug Bandow is a senior fellow at the Cato Institute, specializing in foreign policy and civil liberties.We need to make a persuasive argument for people, whether they like Donald Trump or not, to understand the Constitution transcends this President. The Constitution transcends future Presidents and future crises. We need to convince Americans across the political spectrum to stand with the rule of law, to stand with accountable government, to stand with an accountable executive, responsible legislatures. History tells us that one person making these decisions is not good. Plenty of authoritarians in the past have made these decisions and brought their countries to disaster.Douglas BandowErwin Chemerinsky is the Dean and Jesse H. Choper Distinguished Professor of Law at the University of California, Berkeley School of Law.We're now at a moment when the federal government is a threat to our rights. The actions of the Trump administration are unprecedented in the violations of the Constitution. And so I think it's crucial that state and local governments step in so as to protect rights. It's interesting that through American history, Federalism has always been equated, states' rights have always been equated with regressive policies… But now it's time for progressives to use states' rights and look for the opportunities for states to safeguard our constitutionErwin ChemerinskyKeira Havens is a United States Air Force veteran, a former scientist, and a longtime political activist. She is the executive director of Citizens' Impeachment.Everybody has agency. Everybody has a role that they can play. Everybody can take action. As a private citizen, I can say, “Man, there are a lot of things wrong with what's happening.” In fact, I wrote several articles of impeachment: tyranny, treason, obstruction of justice, and of course, corruption, right? Members of Congress have more power than that. They need to do more than say things. They have to take action. Courage is an action. It's what you do after you say the words that really matters. And every single member of Congress is able to take action. They are able to introduce articles of impeachment, and they are refusing.Keira HavensJessica Denson is a former Trump staffer and founder of the Removal Coalition.The American people (and particularly Democratic primary voters) are looking for fighters. For God's sake, what could you do better than to exert the power that you have—this one privilege in the House, Rule 9, that gives any member of the Congress, including the minority, the ability to force a vote any time. Why would you sit on that? Why would you wait? Instead, in my activism, I've had to resort to relying on literally one Congressman. This is so pathetic. He is a dear friend, and I am so grateful for him. But to this day, I think it is pathetic that I have to rely on one Congressman to bring forth articles of impeachment and force votes, and that's Representative Green.Jessica DensonNews 7/31/26* Our top stories this week have to do with the Democratic National Committee. Several stories have recently come out about DNC Chair Ken Martin, ranging from interpersonal issues to his utter failure to raise money for the Democratic Party. The most stunning example of this comes from NOTUS, which reports that Martin “put [the DNC's] physical headquarters up for collateral last year in order to obtain a $15 million line of credit to help invest in off-year elections.” While the party has used this mechanism before, it underlines the gaping disparity between the DNC, which is currently over $2 million in debt compared to the Republican National Committee (RNC), which can boast $128.5 million cash on-hand.* Compounding the issues of the already cash-strapped DNC, the New Republic reports the Democratic National Committee was scammed out of nearly $29,000 by an email from someone pretending to be Chair Ken Martin last year. DNC spokesperson Mia Ehrenberg is quoted saying “The DNC takes seriously our duty to protect the funds provided to us by millions of patriotic Americans chipping in to fund our mission…this was a one-off mistake that was promptly caught and addressed, and no similar issues have occurred since.” That said, only $7,000 worth of this money has been recovered. As TNR puts it, “This has all been very embarrassing. Martin can't raise money, can't keep money, and can't unite the base under the big tent' he likes to talk about.” Martin may also be facing an outright rebellion led by party insiders.* One surprising proposal to this effect is coming from a very unlikely source. The Hill reports veteran Democratic strategist James Carville, while tearing into Martin, opened the door to former DNC Vice-Chair David Hogg taking the reins. Carville said the DNC appears “dysfunctional” and that the committee needs to “figure out a way maybe they could be somewhat relevant,” adding that “If David Hogg wants to take it over, I ain't stopping you…Go ahead, man, I don't really care.” This is a stark turnabout from Carville's position on Hogg when the latter was in DNC leadership; back then, Carville dismissed him as “a contemptible little twerp.” In an interview, Hogg highlighted this exact reversal, while simultaneously saying that he did not want to lead the crumbling Democratic Party organization. Ben Wikler, the former Wisconsin Democratic Party Chair who challenged Ken Martin in 2025 has also resisted calls to take over the DNC, with rumors circulating that he is gearing up to run for Senate in the Badger State next cycle. While pressure continues to mount on Martin, alternative leadership remains elusive.* Speaking of lackluster leadership, Sources Say News reports Capitol CNCT has launched The Scoop which they describe as “a confidential rating system that lets current and former Hill staffers weigh in on the members and offices they have worked for.” As one might imagine, some reviews are extremely scathing. This piece cites one that reads, “Leadership is abusive. Lies about promotions and bonuses…This place will leach at your mental health like a vampire…Beware.” Sources Say highlights the fact that “Unlike most workplaces, Congress has no HR department, which means bad behavior by members and senior staff can go unreported and unchecked for years.” The new site verifies that the posters are or were real employees of these offices, but keeps their names anonymous to protect them from retaliation.* In more news from Congress, POLITICO reports Maryland Representative and House Judiciary Committee ranking member Jamie Raskin is launching a new investigation into Jeffrey Epstein, this time focusing on whether the deceased sex offender and financier acted as an unregistered foreign agent. In a letter to Acting Attorney General Todd Blanche, Secretary of State Marco Rubio, and Director of National Intelligence Jay Clayton, Raskin writes that “Jeffrey Epstein never registered as a foreign agent…Yet numerous recently released documents now show he acted aggressively on behalf of multiple foreign governments, including several with interests adverse to the United States, in order to influence policies of the first Trump Administration.” The declassified files reveal that Epstein “offered to serve as a conduit between Saudi Arabia and members of the Trump administration, consulted with Russian officials on engaging with the president and advised former Israeli Prime Minister Ehud Barak.” This inquiry is likely to raise fresh questions about not only Epstein's role working on behalf of foreign governments, but his possible connections with intelligence and espionage organizations including the CIA and Mossad.* Other progressive members of Congress, led by Congresswoman Ilhan Omar, have issued a formal response to a new Trump administration report on Cuba. These members interpret this report – which claims that the tiny Caribbean nation of 10 million people has “waged a sustained campaign” to “conquer” the United States and is backing “left-wing terrorism on American soil” – is in fact an instrument the administration plans to use to persecute “Trump's perceived political enemies.” Omar, joined by Representatives Jim McGovern, Delia Ramirez, Rashida Tlaib, AOC and more, contend that Trump is “hell-bent on taking America back 70 years to the height of Cold War McCarthyism, when hawkish foreign policy was paired with unsubstantiated accusations of communist subversion and political repression against dissidents at home.” The administration report singled out several organizations and activists, including the National Lawyers Guild, Hasan Piker, and campus activist Isra Hirsi, daughter of Congresswoman Omar. This from Common Dreams.* In more news from the left, POLITICO reports Donavan McKinney – who is challenging incumbent Congressman Shri Thanedar in Detroit – picked up a major batch of endorsements this week from members of the Congressional Black Caucus. These new endorsers include Representatives Steven Horsford, the former chair of the CBC, along with Lateefah Simon and Ayanna Pressley. These endorsements, particularly that of Congressman Horsford, are notable because Thanedar retains the support of House Minority Leader Hakeem Jeffries and his deputies, Representatives Pete Aguilar and Katherine Clark. McKinney said he was “honored” by these endorsements, adding that he “[looks] forward to working alongside these incredible leaders to pass critical legislation to protect voting rights, get big money out of our politics, and ensure all families have access to the resources they need to not just survive, but to truly thrive.” McKinney's primary will be held on August 4th, along with the more closely watched Senate primary between progressive Abdul El-Sayed and his moderate, establishment-backed opponent Haley Stevens.* Meanwhile, in New York City, Mayor Zohran Mamdani continues to fulfill campaign promises at an astonishing rate. First, Forbes reports that Mamdani has officially introduced a $124.7 billion city budget which includes funding for five city-run grocery stores which will sell staple foods at a 30% discount compared to private grocery stores. These staples are set to include produce, dairy, bread, select meat and seafood, and approximately 20 other products. Being city-owned, these stores will not have to pay rent or property taxes, ensuring they can operate more cheaply than their competitors in the private sector. This piece notes that similar experiments in smaller cities like Baldwin, Florida, and Erie, Kansas proved unsustainable financially, while proposals in Chicago and Kansas City struggled to get off the ground. There is reason to believe New York will prove a different matter entirely, but that remains to be seen. At the same time, Jacobin reports Mamdani is launching a new initiative called “Talk to Tenants,” which will “send volunteers door-to-door in buildings with chronic housing code violations, connecting renters with organizing resources, neighborhood organizations, and training on tenants' rights and how to build tenant associations.” This effort will be led by the Office of Mass Engagement in partnership with the Office to Protect Tenants. It is extremely encouraging to see Mamdani utilizing a varied array of tools at his disposal – including both direct action by the city as on grocery stores or using city resources to promote the formation of non-governmental organizing efforts – in order to achieve his vision of a just and affordable American metropolis.* In more troubling, if not surprising, news, the Wall Street Journal is out with a new report finding that the Department of Justice is giving a green light to corporate criminals. The Journal cites examples ranging from Alibaba to Boeing and EagleBank to Abbott Laboratories where the Trump DOJ “declined to charge companies even when prosecutors thought executives or managers were involved in the wrongdoing.” This follows from directives given by Acting Attorney General Todd Blanche, who has “said prosecutors shouldn't view prosecuting companies as their goal and should instead focus on holding individual wrongdoers accountable.” This piece cites a December speech by Blanche in which he stated that “Companies don't go to jail, people do.” Yet, it seems that under the Trump Justice Department, neither do.* Finally, in more corporate news, the antitrust lawsuit filed by over a dozen state attorneys general has at least temporarily succeeded in halting the mega-merger between Warner Bros. Discovery and the Ellisons' media conglomerate, Paramount Skydance. After the lawsuit was filed, a federal judge in Oakland ordered a pause on the deal, and since then, the Ellisons themselves have agreed to put the merger “on ice” pending the outcome of the trial, Variety reports. This piece also highlights the private sentiments of anonymous Warner Bros. executives who apparently hope that the deal hits a “legal landmine” and is ultimately “nixed.” However, in an internal memo, David Ellison maintained that “the facts and the law are on our side, and a full hearing will demonstrate why the plaintiffs' arguments should not prevail.”This has been Francesco DeSantis, with In Case You Haven't Heard. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

On this Iron Sights episode recorded live on the vendor floor at TTPOA Conference, Scott Howell sits down for a collab with the TTPOA Podcast hosts Brandon Hernandez and Matt Smith. Their guests are Brad Ortiz, Director of Sales for the Law Enforcement Division at Silencer Shop and former officer, and Dewayne Manson, Project Manager at the American Warrior Association, to dig into the thing the Law Enforcement community has been slow to confront: the compounding weight of moral injury, and why the reactive system built to support officers is failing the people who need it most.The conversation goes deep on what moral injury actually is, how it differs from PTSD, and why the officer who has never been in a critical incident can be just as broken as the one who has. Brad and Dewayne walk through what a culturally competent clinician actually looks like, why baseline brain and blood health mapping belongs in the academy, and how the American Warrior Association's R3 program is embedding proactive resilience training directly into TTPOA's regional structure, the first partnership of its kind nationally.But this episode isn't just about mental health. It's about identity. What happens to the guy who IS the job when the job ends? Brad gets personal about his own struggles stepping away from full-time law enforcement, Dewayne shares the moment his teenage son had to pick him up after a DUI, and Scott connects it all to the broader truth that your calling and your identity are not the same thing, and that confusing the two is costing officers their health, their relationships, and sometimes their lives before and after retirement.The back half gets into the business world and how everything these men learned going through doors, managing teams, and serving their communities translates directly into relationship-based sales, leadership under pressure, and building something that outlasts the badge. If you've ever told yourself you're not capable of anything outside law enforcement, this one is going to challenge that story hard.In this episode:• Moral injury is NOT PTSD: it is the cumulative damage caused when you perpetrate something, fail to prevent something, or are ordered to act against your moral compass, and it compounds silently over an entire career without a single critical incident ever being the trigger• Culturally competent clinicians are practitioners who have lived the lifestyle or are married to someone who has: Dewayne walked out of his first VA appointment when the counselor opened with pronouns, then found a female therapist married to a 20-year infantry veteran and experienced a completely different outcome• The American Warrior Association's R3 program is building proactive resilience frameworks inside agencies, including regional resiliency coordinators, vetted clinician networks, and fully funded Warriors Refuge retreats where flights and lodging are free to eligible officers and spouses• Brad Ortiz's Sound Off program at Silencer Shop donates $2 per purchase to a vetted nonprofit fund, and every individual officer purchase routes through silencershop.com where buyers work directly with Brad and Chris• The inflection point analogy: moral injury deposits are made silently every shift, just like compounding interest, and what looks like a single critical incident blowing up is actually the hockey-stick moment on a years-long accumulation nobody was tracking• Social media pile-ons after a justified OIS caused Brad more lasting moral injury than the shooting itself, a blind spot no clinician or debrief ever addressed until he found the right cultural fit in counseling• Baseline blood panels and brain mapping done at the academy level would give officers a before-and-after reference for physiological change across a career: the greater endocrine system and brain health are being completely ignored while TRT gets all the attention• The law enforcement skill set transfers directly into business leadership: problem-solving under pressure, decision-making without perfect information, ownership of mistakes, and relationship-first sales are all things operators have already built on the job, they just don't recognize it as a resumeChapters:0:39 Iron Sights mission statement and welcome2:02 Introducing Brad Ortiz and Dewayne Manson2:49 Brad's background: The Uncommon Line podcast9:40 American Warrior Association programs overview11:43 Resilience training inside TTPOA: the first of its kind12:08 What moral injury actually is and why it's not PTSD14:20 Culturally competent clinicians: Dewayne's personal story31:52 Compounding critical incidents over a career38:37 Social media pile-ons as a hidden source of moral injury44:55 Identity vs. calling: challenging how officers define themselves1:12:18 Relationship-first sales, legacy brands losing ground, and the business parallel1:21:46 How to access AWA, R3, and SoundOff resourcesMentioned:Brad Ortiz — Director of Sales for the Law Enforcement Division at Silencer Shop, former law enforcement officer and fugitive investigator, and former host of The Uncommon Line podcast, joined as a guest to discuss the SoundOff program and the AWA partnership.Dewayne Manson — Representative of the American Warrior Association, infantry veteran who served in Afghanistan and contracted there through 2020, shared his personal journey through moral injury and recovery as context for AWA's R3 program.Matt Smith — Co-host of the TTPOA podcast with 21 years on SWAT, co-hosted this live conference episode alongside Scott Howell and competed in the TTPOA shooting competition the day prior.Brandon Hernandez — Region 7 Director and Director of Training for TTPOA, co-host of the TTPOA podcast, referred to on air as the celebrity of the group when a passerby stopped to greet him.Anna Heil — Associated with the American Warrior Association, attended a TTPOA show in St. Louis and briefed other state organizations on the AWA partnership afterward.Chris — Works alongside Brad Ortiz at Silencer Shop on the SoundOff individual officer program, mentioned as a direct point of contact buyers will reach at soundsoftshop.com.Neil Noakes — Former Chief of Police of the Fort Worth Police Department, cited as an example of a career officer who, when asked how many critical incidents he had been on, simply said he had lost count.Simon Sinek — Author and speaker known for the concept of finding your 'why,' referenced when Brad Ortiz challenged every officer in the room to examine the deeper reason behind their career and identity.

Ryan Hawk has interviewed over 700 people for one of the top podcasts in the world. He has a five to one secret behind his best questions, a one in 25 ratio that turned a no-name show into a top 50 podcast, and a story about a quarterback he once beat out for a job who went on to win Super Bowls.This week Ryan returns for an unprecedented third appearance to talk about his new book The Price of Becoming, the power of compounding small habits, and why almost nobody, not even the most accomplished people he works with, has ever actually defined their own core values.He also shares how building a cold email muscle works exactly like building a real one, and what it means to never peak.Connect with Ryan: learningleader.com GRAB HIS NEW BOOK: https://www.amazon.com/Price-Becoming-Compounding-Practices-Performance/dp/0063483912The Limitless Leadership Lounge was selected by MillionPodcasts as one of the Top 100 Leadership Development Podcasts in the world: millionpodcasts.com/leadership-development-podcasts

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Michael Uadiale.

Episode 358 hosts Dr Rob Weiss (GP from Melbourne, Australia) In this episode we explore the trending but highly controversial topic of peptides.  We discuss the background to these products, the growing demand from the general public and address the significant dangers of black-market peptides. Our guest explains how he educated himself about this niche speciality and his thoughts about why no significant studies or evidence exists for most commonly used peptides.  We learn about his approach to using peptides in patients with musculoskeletal injuries and his clear distinction between this approach vs people using peptides for self-prescribed 'looksmaxing' and  within the 'gym bro' culture. 00:00 Introduction 00:41 Peptides Episode Overview 02:06 IA Community App Updates 03:47 Meet Our Special Guest, Dr Robert Weiss 05:41 What Peptides Are 10:50 Why Peptides Went Mainstream 17:46 Evidence and Prescribing 22:59 GLP-1 Breakthroughs 28:41 Clinical Uses and Protocols 33:06 Safety and Misuse 34:55 Retatrutide Explained 37:20 Safety vs Hype 38:59 Black Market Risks 40:58 Compounding and Quality Standards 44:58 Biohacking and Peptide Trends 47:04 Regulation and Oversight 52:11 GHK-Cu and Skin Rejuvenation 58:27 The Future of Peptides 01:02:05 Evidence vs Anecdotes 01:06:09 Learning Resources 01:07:07 Wrap Up and Outro DOWNLOAD OUR NEW APP IA COMMUNITY FOR FREE: DOWNLOAD FOR APPLE DEVICES DOWNLOAD FOR ANDROID DEVICES Our free content includes: Inside Aesthetics podcast - listen to or watch every episode inside the app Conference Diary - browse every major event and booking links Aesthetic News - keep up to date with the latest stories  Invites to our live stream events - RSVP for our 1st Unfiltered LIVE with Julie Bass-Kaplan here THEN GET A FREE 30 DAY SUBSCRIPTION: FOR HEALTHCARE PROFESSIONALS FOR BUSINESS OWNERS/NON-CLINICAL PROFESSIONALS

America has lived through technological and economic upheaval before. Farm workers moved to factories. Factory workers moved into services. New industries replaced old ones. Productivity rose. Living standards improved. But are we ready for the greatest disruption in American history? Ben Gilliland, author of the upcoming book Breaking the Compact, joins Business Security Weekly to discuss why business leaders need to be prepared for the upcoming AI disruption. The impact of AI, which has not fully materialized, goes far beyond security and job displacement. It will impact our economy, our privacy, and our way of life. The closest recent warning is the "China shock," the period of rapidly increasing import competition that followed China's integration into the global trading system. AI will dwarf that. Ben will discuss the human advantage and how we can prepare now. In the leadership and communications segment, Cybersecurity's Economics Are Broken. Automation Alone Won't Fix It, The business case for burning down security debt: A practical approach for CISOs, The last human relationship in cybersecurity, and more! Visit https://www.securityweekly.com/bsw for all the latest episodes! Show Notes: https://securityweekly.com/bsw-457

Go to www.LearningLeader.com The Learning Leader Show with Ryan Hawk Buy my new book, The Price of Becoming www.LearningLeader.com/Becoming This is brought to you by Insight Global. If you need to hire one person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world has the hustle and grit to deliver. Get The Price of Becoming: The Price of Becoming is available now wherever books are sold.   "Have a plan, work the plan, plan for the unexpected." From my old Miami football coach, Terry Hoeppner. It was posted in the locker room. He said it every day. I still think about it all the time. There is no hack. There is no one thing. At many keynote Q&As, someone asks me for a quick fix. The only answer is the power of compounding. Consistency, dependability, and reliability are the least sexy words of all time. And they're the whole game. Take your work seriously. Don't take yourself seriously. The best leaders go hard at the work but laugh at themselves. It's important to be able to laugh with your team. Optionality is overrated.  "I'm trying to beef up my obituary. I'm not going to dabble." - Ed Latimore (Ep. 648) Live like a hawk. Hawks have eyesight eight times better than humans. They glide and observe constantly. But once they see what they want, they commit with everything they have. Be a professional noticer. Then commit fully. Talk to your people before big decisions. My dad. Miranda. And the wide network of high-caliber people I've built over 700 podcast episodes. Be specific. Off the record. Long conversations. Then trust your gut. Take bits and pieces from the best. Then find your own voice. As a brand new sales rep at LexisNexis, Rex Caswell had me interview and sit with the ten best reps in the company. I took a piece from each, mashed it together with my own personality, and eventually found my own voice. I still use that formula today. Use social media to create in-person moments. Organize dinners, meetups, coffees. Get in the room with people. Concert ticket prices and The World Cup tell you everything you need to know about how much people are craving in-person connection right now. Don't outsource your thinking to AI. You can't walk into the weight room, look around, and expect to build muscle. You have to move the weights. Use AI as a tool. Don't let it do the thinking for you. Your job is to add value to other people's lives. Coach Hoeppner sat 19-year-old me down with the other quarterback and pointed at both of us: "He adds more value to our team than you do. He gives us a better chance to win. That's why he's going to play." It was brutal. It was a very lucky moment for me to experience that in my formative years. I fell into the AI trap. The Be a Pro section originally started as a LinkedIn post that was heavily influenced by Claude. It went well on Twitter too. People DM'd me praising it. It felt great. And it scared me. I was getting the rewards without doing the work. The good old days are right now. I try to work hard when my family is asleep or at school. Between those hours, I go as hard as I can. Outside those hours, I try not to work too much. I've talked with so many dads who are older now, and their kids are out of the house. They miss the time when they were with their kids so much. I try to think of that daily. Making positive dents in the world. Leave people, places, and things better than you found them.  That's how you make a positive dent, one person at a time. My philosophy on keynotes and writing: story, science, and practical application. Great storytelling to move people to the edge of their seat. Empirical evidence to make it true. Practical application to answer, "So what? Why should I care?" You have to have all 3. Our edge in coaching leadership teams: my coaches actively live what they teach. They didn't attend a seminar and get certified. They're still active coaches themselves, still leading teams in real time. That's what separates authentic teaching from performance. Push your edges. Find your Goldilocks zone. James Clear told me you don't get better at tennis by playing Roger Federer. He'll destroy you. But you also don't get better by playing a five-year-old. You need to be uncomfortable, but not so uncomfortable that you break. Shane Gillis walked off stage looking exhausted. Dan saw him live in Cincinnati. On stage, effortless. The second he stepped behind the curtain, his shoulders slumped like he was ready to fall asleep. That's what the great ones do. They make it look easy because of the price they paid to get there. My productive paranoia. Our team has to earn it every session. It creates a productive paranoia knowing that continuous improvement is necessary. The reward is bigger than the cost. It's the greatest gig in the world. I bet on myself and the team every single day because if we keep adding value, I like our chances. Reflection Questions Where are you dabbling right now? What would 100% commitment actually look like, and what's stopping you from making the call? My end-of-day prompts: What did I do today to add value to others' lives? What did I do today to push my edges? Get The Price of Becoming: The Price of Becoming is available now at learningleader.com/becoming or on Amazon.  More Learning #529: James Clear - Becoming an Optimist & Building Better Habits  #648: Ed Latimore -  Discipline Over Feelings, Don't Dabble Your Way Through Life#602: The Learning Leader Squad - Helping Teams Become Elite & People Become Excellent   Episode Chapters00:00 A Special Launch Episode: The Price of Becoming  02:29 Have a Plan, Work the Plan, Plan for the Unexpected  05:15 There Is No Hack. Just the Power of Compounding.  08:04 Take Your Work Seriously. But Not Yourself 12:31 Optionality Is Overrated: Why You Should Stop Dabbling  16:13 How I Make Big Decisions  20:34 Using Social Media to Build Real In-Person Relationships  23:27 The Danger of Using AI to Write 34:16 How I Structure My Work Days 40:47 The One at a Time Moments That Signal a Positive Dent  42:04 Leave People, Places, and Things Better Than You Found Them  50:52 Story, Science, and Practical Application  55:14 What Makes The Learning Leader Team Different 57:39 Push Your Edges: The Goldilocks Zone  01:06:24 The Real Cost of Betting on Yourself  01:10:45 EOPC

This Week In Startups is made possible by: Quo https://quo.com/TWiST PayPal Open https://paypalopen.com Northwest Registered Agent https://northwestregisteredagent.com/twist Today's show: *Jason spent $11 building out PodMeme, an AI tool that tracks down the best segments from top podcasts about a specific topic, then stitches them together into a single stream. His post laying out how he did it, featuring a simple screenshot of the product, got all the way to 1.1M views in just a few days. It's a simple fact: builders love to see what other people are building, and growing your new project "in public," sharing your journey on social media, is a great way to develop buzz around your product before it even exists. Today's guest Thibault "Tibo" Louis-Lucas walks us through how he grew products like Tweet Hunter and Taplio on his social media account, using social media buzz and a focus on tools for creators to very quickly expand to over $1M ARR. PLUS why Apple would only sue OpenAI if they knew they had them dead to rights… why Uber and Waymo are fighting over DC robotaxis… Jason's response to the public backlash against surveillance startup Flock Safety… and the guys remember iconic New Zealand actor Sam Neill. Guest: Tibo Louis-Lucas on X: https://x.com/tibo_maker Revid.ai: https://www.revid.ai/ Tweet Hunter: https://tweethunter.io/ Taplio: https://taplio.com/ Relevant Links: Lemlist: https://www.lemlist.com/ GRIN influencer marketing: https://grin.co/ TechCrunch: "Apple Sues OpenAI": https://techcrunch.com/2026/07/10/apple-sues-openai-over-alleged-trade-secret-theft/ We Must Act Now statement: https://www.wemustactnow.ai/ TechCrunch: "Uber's Robotaxi Lobbying Effort": https://techcrunch.com/2026/07/13/ubers-robotaxi-lobbying-effort-has-put-it-on-a-collision-course-with-waymo/ DC Autonomous Vehicle Deployment Authorization Amendment of 2026: https://www.billtrack50.com/billdetail/2003462 DoorDash: Meet Dot: https://about.doordash.com/en-us/dot Flock Safety: https://www.flocksafety.com/ DeFlock: https://deflock.org/ Gigazine: Flock accuses Deflock of being a "terrorist org": https://gigazine.net/gsc_news/en/20260209-flock-ceo-deflock/#gsc.tab=0 Unifi AI Security Systems: https://ui.com/physical-security Jason's PodMeme post: https://x.com/Jason/status/2076231055443440105 Jason responds to Justine Bateman: https://x.com/Jason/status/2076326740050206959 NYT Sam Neill obituary: https://www.nytimes.com/2026/07/13/movies/sam-neill-dead.html "Possession" trailer: https://www.youtube.com/watch?v=aLXW-oVbTxE FanEdit: https://fanedit.org/forums/news-publisher/ "Manhunter" trailer: https://www.youtube.com/watch?v=cLqHlg2fAnE HBO "The Man Will Burn" trailer: https://www.youtube.com/watch?v=kRhUYPtp6Ao Timestamps: 0:00 There's no air conditioning in Paris 7:27 Tibo Maker's "ship 1 product a week" challenge 9:24 The power of building products in public 10:59 Quo (formerly OpenPhone) - Quo gives you a clean, modern way to handle every customer call, text, and thread all in one place. Try it free at https://quo.com/TWiST 12:04 Excitement for JCal's "PodMeme" set-up 15:40 Compounding an audience and enlisting influencers 19:13 Your follower count is not important any more 20:59 PayPal - Built for payments, growth, and agentic. Paypal Open, built for all business. Visit https://paypalopen.com to get started 22:28 How Tibo got banned on LinkedIn twice 28:48 Apple sues OpenAI 30:59 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist 38:44 How OpenAI should have handled the New York Times 45:10 DC's new robotaxi bill 52:06 Managing the AV and delivery-bot transition 53:23 Economists warn of AI job displacement 1:07:00 How Jason would fix Flock's messaging 1:17:26 Remembering Sam Neill 1:23:05 Lon's Dream AI edit 1:26:35 HBO's Burning Man docuseries   Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com Check out the TWIST500: https://www.twist500.com Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp   Follow Lon: X: https://x.com/lons   Follow Alex: X: https://x.com/alex LinkedIn: ⁠https://www.linkedin.com/in/alexwilhelm   Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis   Check out all our partner offers: https://partners.launch.co/   Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland   Check out Jason's suite of newsletters: https://substack.com/@calacanis   Follow TWiST: Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups Substack: https://twistartups.substack.com  

B”H Learn more about Triple Compounding at yaeltrusch.com/triplecompounding We hear so much about the power of compound interest: start early, invest consistently, and let time do the work. And that is good advice. But what if the way most of us think about compounding is far too narrow? What if building wealth isn't only about compounding money in the market, but about compounding your own skills, your ability to generate income, the systems you build, and ultimately, the assets you own? That is the premise behind my guest Kiana Danial's Triple Compounding System. Kiana is the founder and CEO of Invest Diva, a personal investing and wealth creation expert, and a Wall Street Journal and USA Today bestselling author. Her latest book, Triple Compounding for Dummies, is designed to help investors and business owners create what she calls a complete wealth ecosystem. Kiana grew up Jewish in post-revolutionary Iran, in a family that knew what it meant to build wealth—and then have it taken away. In our conversation, Kiana breaks down the entire Triple Compounding framework. We also talk about mindset, risk, reverse compounding, Bitcoin, and how triple compounding helped save Kiana's marriage. We also have a very honest conversation about giving—the topic of my upcoming book—why Kiana wishes she had begun earlier, and why generosity belongs in any serious conversation about building generational wealth. Kiana is candid, energetic, and refreshingly willing to challenge conventional financial advice. Here's the lovely Kiana Danial. The post 471: Triple Compounding: The Wealth-Building Framework We Might Be Missing with Kiana Danial appeared first on Yael Trusch.

Want to Start or Grow a Successful Business? Schedule a FREE 13-Point Assessment with Clay Clark Today At: www.ThrivetimeShow.com   Join Clay Clark's Thrivetime Show Business Workshop!!! Learn Branding, Marketing, SEO, Sales, Workflow Design, Accounting & More. **Request Tickets & See Testimonials At: www.ThrivetimeShow.com  **Request Tickets Via Text At (918) 851-0102   See the Thousands of Success Stories and Millionaires That Clay Clark Has Helped to Produce HERE: https://www.thrivetimeshow.com/testimonials/ Download A Millionaire's Guide to Become Sustainably Rich: A Step-by-Step Guide to Become a Successful Money-Generating and Time-Freedom Creating Business HERE: www.ThrivetimeShow.com/Millionaire   See Thousands of Case Studies Today HERE: www.thrivetimeshow.com/does-it-work/