Podcasts about Diversification

Investing can feel overwhelming. With countless funds, strategies, market forecasts, and opinions competing for attention, it's easy to assume that successful investing requires constant analysis and a complicated portfolio.But it doesn't have to.For decades, Sound Mind Investing has offered an indexing strategy called Just-the-Basics, designed around simplicity, diversification, and minimal maintenance. According to Mark Biller, Executive Editor and Senior Portfolio Manager at Sound Mind Investing, a straightforward indexing approach can also work alongside more active investment strategies.The key may not be choosing between active investing and indexing, but understanding how both can fit in a well-designed portfolio.How Index Investing WorksIndex investing begins with a simple idea: rather than trying to beat the market, investors seek to earn approximately the market's return.They typically accomplish this through low-cost index funds that track a particular market benchmark. Because these funds generally require less active management, their expenses tend to be lower than those of actively managed funds.Over time, those lower costs can be significant. “Indexing is based on the idea that an investor is going to give up trying to beat the market in favor of just earning the market's return,” Biller explains.Sound Mind Investing's Just-the-Basics strategy takes that concept and keeps it intentionally simple. It uses three stock index funds and, when appropriate for the investor's asset allocation, a bond index fund.Once established, the strategy requires relatively little maintenance—typically an annual portfolio rebalance. That simplicity can make indexing especially appealing to investors who don't want to continually monitor markets or make frequent investment decisions.Active Investing or Indexing? Why Not Both?Investors sometimes treat active management and indexing as competing philosophies. Either you try to outperform the market, or you simply track it.SMI takes a different approach. Although the organization may be better known for its active strategies, Just-the-Basics was actually the first investing strategy introduced in the SMI newsletter more than three decades ago.Rather than viewing active investing and indexing as an either-or decision, Biller suggests thinking in terms of both-and.That approach can be particularly useful for investors whose workplace retirement plans offer mostly index funds. For example, an investor might use low-cost index funds inside a 401(k) while employing active strategies elsewhere in the portfolio.Combining the two can create another layer of diversification without requiring every investment account to follow the same approach.Why Use More Than One Stock Index Fund?If simplicity is the goal, why not simply purchase a total stock market index fund?That would certainly be easy. But SMI has historically used three separate stock index funds instead. There are practical reasons for that.When Just-the-Basics was first introduced, total stock market index funds were not yet widely available. More importantly, many workplace retirement plans still do not offer a true total-market option.Most plans, however, offer something similar to an S&P 500 index fund that tracks large U.S. companies. They may also offer a small-company fund and an international fund. Using several index funds makes it possible to build broader diversification even when a total-market fund isn't available.Otherwise, investors who substitute an S&P 500 fund for a total-market fund could end up concentrated primarily in large U.S. companies.That concentration has worked especially well for much of the past 15 years, but recent performance does not necessarily predict future performance.Why Diversification Still MattersThe dominance of large U.S. companies in recent years has raised questions about whether investors still need meaningful exposure to smaller companies and international markets.SMI believes they do, although the organization has adjusted its allocations over time. The challenge is determining how much weight investors should place on recent history compared with longer-term market patterns.Large-company stocks have been exceptionally strong during the past 15 years. But when SMI examined a longer 30-year period, the picture became more complicated.Large companies slightly outperformed smaller and mid-sized companies over the full period. But when those 30 years were divided into two 15-year segments, the leadership changed. The more recent period favored large companies, while the earlier period favored the broader extended market.That serves as an important reminder: market leadership can change.Diversification means accepting that not every part of your portfolio will be the top performer at the same time. The goal is not necessarily to own only what has recently performed best, but to build a portfolio prepared for different market environments.What About International Stocks?International stocks present perhaps the more difficult diversification question.Foreign stocks have significantly lagged U.S. stocks over much of the past few decades. That has caused some investors to wonder whether international exposure is still necessary.Biller points to the concept of mean reversion—the tendency for an asset class that has significantly underperformed over a long period eventually to improve, while an asset class that has experienced exceptional performance may eventually cool.Historically, U.S. and international stocks have alternated leadership over extended periods.SMI has therefore maintained some international exposure while reducing its allocation. The Just-the-Basics strategy previously devoted 20% of its stock allocation to foreign investments; it has since reduced that figure to 10%.The goal isn't to assume that history will repeat itself perfectly. Instead, it's to maintain some diversification while acknowledging the changing structure of global markets. And because the strategy is simple, investors can adjust those percentages based on their own situation and investment philosophy.Indexing Can Help Investors Emotionally, TooDiversification isn't only about mathematics. It can also influence investor behavior.Active investing inevitably produces periods when a strategy trails the broader market. During those times, investors may become frustrated and begin questioning their approach.Biller describes a common temptation: when an active strategy underperforms, investors may think, “I should have just bought the index.”Holding some indexed investments can reduce that all-or-nothing feeling. Part of the portfolio simply tracks the broader market while another portion follows an active strategy. That can make it psychologically easier to remain disciplined when one approach temporarily falls behind another.And investor behavior matters. Even a sound strategy can fail to produce its intended results if an investor repeatedly abandons it based on short-term performance.What Could a Simple Index Portfolio Look Like?For investors interested in a basic indexing approach, the structure does not have to be complicated. The Just-the-Basics stock allocation is approximately:60% large U.S. companies30% smaller U.S. companies10% international companiesDepending on an investor's age, goals, risk tolerance, and overall financial situation, investors can also incorporate bonds into the portfolio. The exact percentages are less important than the underlying principle: build a diversified allocation you understand and can maintain consistently.For many investors, similar funds may already be available inside their workplace retirement plan.Simple Can Still Be WiseInvesting does not need to become a full-time job.Active strategies may make sense in some situations. Other times, simply owning diversified, low-cost index funds is entirely appropriate. For many investors, the right answer may include elements of both.What matters is having a thoughtful plan rather than constantly reacting to whatever has recently performed best.As stewards of what God has entrusted to us, our goal isn't to make investing unnecessarily complicated. It's to make wise, informed decisions with patience, discipline, and an appropriate understanding of risk.A simple, diversified investment strategy that you understand—and are prepared to stick with—can go a long way toward accomplishing that goal. To learn more about Sound Mind Investing's Just-the-Basics strategy and other approaches to investing, visit SoundMindInvesting.org.On Today's Program, Rob Answers Listener Questions:I'm 66, retired, and receiving Social Security, but I recently went back to work part time. My husband and I are debt-free but have only about $30,000 left in savings after cashing out our 401(k)s. Should I put most of my new income into my employer's 401(k), or would another investment strategy make more sense?Resources Mentioned:Become a FaithFi PartnerSound Mind InvestingSMI Indexing: Checking Up On Just-the-Basics (Article by Mark Biller on SoundMindInvesting.org)Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement by Harlan AccolaFaithful Steward: FaithFi's Quarterly MagazineFaithFi Field Guide: How Much Money is Enough? Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob WestWisdom Over Wealth: 12 Lessons from Ecclesiastes on MoneyLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor® (CKA)FaithFi App Remember, you can call in to ask your questions every weekday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God's resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is investing in the stock market really like going to a casino? In this episode of PIVOT with Darryl Lyons, Darryl breaks down the differences between short-term speculation and long-term investing, and explains why understanding those differences matters when making decisions with your money. Darryl walks through how stocks work, why investors are compensated for taking on greater risk and how the structure of the market gives long-term investors an opportunity to participate in the growth of successful companies. He also looks at the history of investing, from the early stock market to mutual funds, the Investment Company Act of 1940 and the creation of the 401(k). You'll also hear Darryl explain the role dividends can play in a portfolio through a memorable cattle and milk analogy, along with why company growth, executive incentives and shareholder interests matter. In this episode, you'll learn:• Why long-term stock market investing is different from gambling • How stocks and bonds differ in terms of risk and potential return • What the price-to-earnings ratio tells investors about a company • How mutual funds helped make diversification more accessible • Why dividends can be an important part of investing • How to match your investments with your time horizon • Why liquidity and diversification are important parts of stewardship • How having a clear purpose can help guide your investment decisions • Why patience can make such a difference for long-term investors Investing is about more than accumulating wealth. It's about understanding what your money is for and making decisions that support that purpose. Like the podcast? Leave a review and share this episode with someone who could benefit from thinking differently about investing and building wealth for the long term. Visit paxfinancialgroup.com to learn more about financial planning and investment guidance. Resources:  What Percentage of the Time Do Stocks Go Up? - by Ira Roth SEC Investor.gov - Stocks: a stock gives its holder a share of ownership in a company. Amsterdam City Archives - VOC shares were offered in 1602 and were transferable, an early form of modern share ownership. SEC - The agreement that formed the New York Stock Exchange dates to 1792; modern exchanges are now almost entirely electronic. U.S. Department of Labor - The Revenue Act of 1978 permitted the cash-or-deferred arrangement associated with 401(k) plans. SEC - Mutual funds and ETFs pool investor money; many 401(k) and 529 participants invest through registered funds. SEC Investor.gov - Diversification and asset allocation are core ways to manage investment risk; investing still involves possible loss.

Bond prices are falling as long-term rates rise, but that doesn't mean bonds have failed. Don and Tom explain why bond prices and yields move in opposite directions, why a normal yield curve can look painful, and why the real job of bonds is stability—not stock-like returns.They compare broad intermediate-term bond funds with Treasuries, including the state-tax advantage of VGIT for some investors, and revisit the long-run case for a balanced portfolio. The bottom line: stop trying to time interest rates and let bonds do the boring work.Then they answer listeners on skipping bonds when heirs are the real beneficiaries, using fixed annuities inside a CD ladder, FDIC versus state guaranty protection, and simple funds-of-funds for one-stop diversification.00:40 Welcome and model-airplane weather01:42 Why bond yields rise when prices fall05:22 What bonds are actually for08:40 Stop trying to time interest rates11:36 BND, VGIT, and the state-tax edge17:26 Can wealthy heirs justify an all-stock portfolio?19:07 Fixed annuities inside a CD ladder22:57 Funds-of-funds for simple diversificationQuestions? Comments? Click!

In this episode, the conversation explores how real estate syndications can play a role in building long term wealth and creating financial independence. The discussion covers diversification across asset types, sponsors, and locations, along with the potential tax advantages and passive income opportunities associated with real estate investing.The episode also looks at real investment results, the importance of understanding risk, and how consistent investing and reinvesting distributions can support wealth building over time.Topics CoveredReal estate syndications and passive investingDiversifying across sponsors, locations, and asset typesThe potential tax benefits of depreciationUnderstanding distributions and long term returnsReal estate syndication performance and investment multiplesEvaluating IRR and average annual returnsThe importance of understanding investment riskBuilding wealth through consistent contributions and reinvesting distributionsComparing long term syndication investing with the stock marketUsing real estate investing to support financial independenceQuotes“Most of the returns are at the end. Distributions are great if you want to live off, but most of the returns are at the end.”“If you can postpone paying taxes, why not? The dollar today is worth more than the dollar tomorrow.”

Managing inherited legacy private market portfolios is increasingly complex as allocations grow across private equity, credit, real estate, and infrastructure. This episode looks at the hidden operational and liquidity burden of these assets and outlines decision frameworks to hold, sell, or restructure, emphasizing proactive planning, strong execution, clear governance, and tailored solutions aligned to long-term objectives.Capital at Risk. This content was recorded in August 2026. The views expressed are those of the speaker(s). They are current as of the date of recording and subject to change without notice. Podcast guests may be from firms that Marsh evaluates or rates. Podcast guests may have commercial relationships with Marsh. Notwithstanding any separate relationship between Marsh and a guest, no guest receives direct or indirect compensation for their participation in the podcast. For a description of conflicts of interest related to Marsh's investment business, see Conflicts of Interest. None of the material presented in this podcast is intended as a recommendation or endorsement of any particular investment manager or investment. This is provided for informational and educational purposes only. This does not constitute a recommendation or an offer to purchase or sell any securities. This does not contain investment, financial, legal, tax or any other personalized advice and should not be relied upon for this purpose. The discussion is not tailored to your particular personal and/or financial position. No investment decision should be made based on this information. Certain information may constitute forward-looking statements though there is no guarantee that these results will be achieved. Past performance of any asset class or security is not a reliable indicator of future results. Diversification does not guarantee a profit or protect against a loss. There are substantial risks associated with investments classified as alternative investments. Investors considering alternatives should have the ability, investing sophistication and experience to bear the risks associated with such investments.  Marsh makes no representations or warranties as to the accuracy or completeness of statements or information contained herein and takes no responsibility or liability (including for indirect, consequential, or incidental damages) for any error, omission or inaccuracy. This material should not be copied, distributed, published or reproduced in whole or in part without written permission. A transcript may be provided for your convenience. Marsh is not responsible for any errors in the transcript. © 2026 Marsh.  All rights reserved. Important notices

Financial advice is everywhere, but useful investing guidance is strangely hard to find. Don and Tom sort through the stock-picking headlines, social-media hype, and finfluencers who turn excitement and fear into clicks.Then Randy sends an annuity sales presentation that makes some very large claims. The guys examine the unsupported numbers, the misleading comparisons, and why a prospectus matters more than a polished pitch.Plus, is a rising equity glide path really a cornerstone of retirement planning? And should an I bond help pay a daughter's student loan or seed a grandchild's 529?00:44 Coyote vs. Acme and the genius of Looney Tunes03:34 Why most investing headlines are useless06:07 Where people get financial advice07:33 TikTok finfluencers and online money hype12:39 Three listener questions13:35 An annuity sales pitch under scrutiny22:44 Rising equity glide paths in retirement29:22 Using an I bond for family education31:31 The Financial Physicists returnQuestions? Comments? Click!

BlackRock's Kristy Akullian highlights the diversification benefits of high-dividend strategies to balance high-conviction AI investments. She favors high-quality companies with consistent earnings growth and strong balance sheets amid rising long-term yields, and remains upbeat on the AI trade driven by insatiable compute demand.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Cinq frères, une ferme et des activités d'élevage laitier, de boucherie, de volaille et de production de Camembert. En Normandie, découvrez comment la diversification façonne l'exploitation et influence jusqu'aux choix génétiques du troupeau au GAEC de la Cayenne. Pierre Bréant partage notamment son approche du génotypage, de la semence sexée et de la sélection pour produire un lait adapté à la transformation fromagère.

One fateful year for dairy farmers and a simple milk quota turned a Cotswolds dairy farm into a nationally-beloved, family-owned ice cream brand - Marshfield Farm Ice Cream.In this episode of It Runs in the Family, Leila and Liz sit down with mother-son duo Dawn and Angus Hawking to explore how diversification and graft turned a side hustle in the late-80s into a multi‑generational business.From robotic milkers and B Corp accreditation to Swizzles licensing deals and “Deliver‑Moo” home delivery, we bring you a candid, hilarious, and practical look at building a family business the next generation is proud to inherit.

After a surprisingly firm August jobs report Friday that sent stocks down on rate hike fears, the market returns from a holiday weekend awaiting CPI data and Treasury auctions.Important DisclosuresThis material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve.Investing involves risk, including, for some products, more than your initial investment.Past performance is no guarantee of future results.Supporting documentation for any claims or statistical information is available upon request.Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here.Schwab does not recommend the use of technical analysis as a sole means of investment research.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0130-0926) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The investing rules that helped grow your retirement savings may not be the same ones you need as retirement approaches. In this episode of Michigan’s Retirement Coach, Mike Douglas explains what should change, what should stay the same, and the common mistakes investors make when transitioning from accumulation to retirement income. He discusses diversification, risk management, portfolio rebalancing, inflation, and the impact of sequence of returns risk. Learn why balancing growth, income, and preservation becomes increasingly important in the years leading up to and through retirement. Schedule your complimentary appointment today: MichigansRetirementCoach.com Follow us on social media: YouTube | Facebook | Instagram | LinkedInSee omnystudio.com/listener for privacy information.

In the first episode of CEO Perspectives under our new Marsh brand, Mick Dempsey, President of Investments and Retirement, speaks with Jon Gray, President & COO of Blackstone, about the leadership principles that have shaped one of the world's largest alternative asset managers. Their conversation explores the evolution of private markets, the growing role of private capital, navigating technological disruption, and how investors can seek to position for long-term opportunities in an increasingly complex world.Capital at Risk. This content was recorded on June 2026. The views expressed are those of the speaker(s). They are current as of the date of recording and subject to change without notice. Podcast guests may be from firms that Marsh evaluates or rates. Podcast guests may have commercial relationships with Marsh. Notwithstanding any separate relationship between Marsh and a guest, no guest receives direct or indirect compensation for their participation in the podcast. For a description of conflicts of interest related to Marsh's investment business, see Conflicts of Interest. None of the material presented in this podcast is intended as a recommendation or endorsement of any particular investment manager or investment. This is provided for informational and educational purposes only. This does not constitute a recommendation or an offer to purchase or sell any securities. This does not contain investment, financial, legal, tax or any other personalized advice and should not be relied upon for this purpose. The discussion is not tailored to your particular personal and/or financial position. No investment decision should be made based on this information. Certain information may constitute forward-looking statements though there is no guarantee that these results will be achieved. Past performance of any asset class or security is not a reliable indicator of future results. Diversification does not guarantee a profit or protect against a loss. There are substantial risks associated with investments classified as alternative investments. Investors considering alternatives should have the ability, investing sophistication and experience to bear the risks associated with such investments.  Marsh makes no representations or warranties as to the accuracy or completeness of statements or information contained herein and takes no responsibility or liability (including for indirect, consequential, or incidental damages) for any error, omission or inaccuracy. This material should not be copied, distributed, published or reproduced in whole or in part without written permission. A transcript may be provided for your convenience. Marsh is not responsible for any errors in the transcript.© 2026 Marsh.  All rights reserved. Important notices

Thursday's rebound faces a test today from nonfarm payrolls data. Jobs growth is expected to be 45,000 in August, and rate hike odds were 50-50 going into the 8:30 a.m. ET report.Important DisclosuresThis material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The {securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.For illustrative purpose(s) only.Investing involves risk, including loss of principal, and for some products and strategies, loss of more than your initial investment.Supporting documentation for any claims or statistical information is available upon request.Past performance is no guarantee of future results.Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Schwab does not recommend the use of technical analysis as a sole means of investment research.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0130-0926) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Broadcom earnings late yesterday beat expectations but shares initially dipped. Investors await today's initial jobless claims and tomorrow's critical nonfarm payrolls data. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0130-0926) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Le sujet :Les ETF sont souvent présentés comme la solution “simple” pour investir… mais derrière cette simplicité se cachent des arbitrages pas du tout anodins (pays, devises, pondération) et des risques qu'on sous-estime trop souvent. Avec Xavier Delmas, on reprend les bases, on démonte les idées reçues sur la “diversification”, et on parle sans détour de la concentration du S&P 500 (et de son exposition massive à la tech / IA).L'invité :Xavier Delmas est créateur de contenu financier, ancien trader et analyste chez ZoneBourse. Investisseur de long terme, il partage une approche très concrète (et parfois critique) des ETF, des indices, et du stock picking.Chapitres : 00:00:00 : Le portefeuille de Xavier Delmas00:05:22 : Tout comprendre sur les ETF00:12:08 : Le secret de polichinelle : la sur-concentration du S&P 500 sur l'IA00:15:47 : Les différents indices et leurs spécificités00:26:07 : Pourquoi la tech est autant valorisée00:36:25 : ETF vs stock picking : comment bien arbitrer00:40:18 : PEA, ETF à effet de levier, obligations d'entreprise (et autres produits obscures)00:46:11 : L'importance du jeu des devises sur les ETF00:51:29 : Comment faire de l'argent grâce à ses convictions01:01:16 : Le Bitcoin peut-il se “boomeriser” ?01:06:29 : Ces investissements qui sacrifient la sérénitéRéférences :La chaîne YouTube de Xavier Delmas : https://www.youtube.com/@xavierdelmasinvestL'épisode avec Marie de Raismes : https://lamartingale.io/tous/stock-picking-pourquoi-certaines-actions-sont-plus-interessantes-que-les-etf-aujourdhui/Bourseko : https://bourseko.fr/articles/salut-cest-xavier-delmasFleurons : https://www.youtube.com/@fleuronspodcastMerci à notre partenaire Fundora de soutenir la Martingale.Allez sur fundora.fr et prenez le contrôle de vos investissements.Fundora est une plateforme d'investissement. La valeur de vos placements peut augmenter ou diminuer. Votre capital est assujetti à un risque.La libre antenne de votre podcast préféré, Allo La Martingale, a désormais son propre flux ! Abonnez-vous sur Spotify, Apple Podcasts ou votre plafeforme audio favorite pour ne manquer aucun nouvel épisode. Pour s'abonner à la newsletter, c'est ici : https://lamartingale.io/ La Martingale, c'est aussi un assistant IA qui vous apporte des réponses éclairées issues des interventions des experts passés au micro du podcast. Pour tester, direction https://beta.lamartingale.ioLa Martingale est un média d'Orso Media. Vous souhaitez entrer en contact avec a rédaction ? Ou nous soumettre une collaboration ? Ecrivez-nous ici : https://orsomedia.io/contactHébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Sure, you own index funds. But 99% of portfolios have a "shade of gray" that's more active than we realize. This episode dives into the "shades of gray" in passive investing and how they affect our portfolios and benchmarks.  Looking for a financial planner?  → PlanWithJesse.com Jesse explores an important distinction that many investors overlook: owning passive funds does not necessarily mean you have a passive portfolio. He explains why passive investing remains a strong strategy, using research on the small number of stocks responsible for most market returns, the drag created by active-management fees, and the difficulty of separating investment skill from luck. From there, Jesse examines how allocation choices—such as favoring U.S. stocks, concentrating in technology, or tilting toward small-cap and value stocks—represent active decisions even when implemented entirely with index or rules-based funds. He then connects those decisions to benchmarking, explaining why investors need relevant benchmarks that reflect their portfolio's asset classes, geography, risk, and intended strategy. Ultimately, Jesse argues that investors should understand where their portfolios deviate from the broader market and use thoughtful benchmarks to determine whether those choices are delivering the results and risks they intended. Key Takeaways: • Beating the market is possible, but the odds are not 50/50. Stock returns are highly skewed, with a relatively small percentage of companies responsible for much of the market's long-term performance. • Diversification increases the odds of owning the market's relatively few major winners. Trying to identify those winners beforehand creates a difficult stock-picking problem. • Investment success can be difficult to distinguish from luck. Even when someone beats the market, determining whether that performance resulted from repeatable skill is challenging. • Nearly every investor has some degree of active allocation. A theoretically pure passive portfolio would hold the global investable universe according to its market weights, something that is difficult to replicate completely. • Deviating from global market weights is not inherently wrong. The important issue is understanding where and why your portfolio deviates rather than making those bets unknowingly. • The right benchmark should resemble the investment being evaluated. Asset class, geography, risk level, and the investment's intended purpose all matter when selecting a benchmark. Key Timestamps: (2:22) – You Can Beat the Market, But... (5:12) – Stock Performance Is Skewed (7:44) – Fees Make Beating the Market Harder (9:00) – Luck or Skill? (Usually Luck) (11:43) – Not All Funds Are Created Equal (14:23) – Consider the Allocation (19:48) – Are You a True Passive Investor? (22:55) – Risk Is Fungible (23:39) – You Probably Have Active Allocation (25:15) – What Is Investment Benchmarking? (29:30) – Absolute Investing Benchmarks (35:20) – The Benchmark You Should Use (38:40) – Conclusion Key Topics Discussed: The Best Interest, Jesse Cramer, Wealth Management Rochester NY, Financial Planning for Families, Fiduciary Financial Advisor, Comprehensive Financial Planning, Retirement Planning Advice, Tax-Efficient Investing, Risk Management for Investors, Generational Wealth Transfer Planning, Financial Strategies for High Earners, Personal Finance for Entrepreneurs, Behavioral Finance Insights, Asset Allocation Strategies, Advanced Estate Planning Techniques Mentions: https://bestinterest.blog/fewer-needles-bigger-haystack/ https://bestinterest.blog/the-needle-in-the-haystack/   More of The Best Interest: Check out the Best Interest Blog at https://bestinterest.blog/ Contact me at jesse@bestinterest.blog Need a financial planner?  → PlanWithJesse.com  The Best Interest Podcast is a personal podcast meant for education and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.

In this back-to-basics episode, Jason and Jeff break down the foundational rules of portfolio construction, asset allocation, and true risk diversification. The hosts explore how to blend an index fund baseline with individual stock picking, examine the mechanics of position sizing and rebalancing, and debate different cash-deployment frameworks. To cap it off, both hosts reveal brand-new stock purchases made during the recording: Jeff's starter position in Brad Jacobs' roll-up vehicle QXO and Jason's opportunistic buy of The TJX Companies.  00:59 Welcome to Investing Unscripted 03:25 Portfolio Basics Setup 04:47 Why Portfolios Matter 08:32 Diversification and Allocation 10:16 Risk Factors Explained 15:29 Beginner Diversification Tips 17:15 Cash and Time Horizon 22:24 Big Picture Diversification 24:27 Mindset and Risk Tolerance 27:55 Simple Starter Portfolio 28:19 Building a Stock Base 29:17 Know Your Investor Style 31:07 Buy Market or Companies 33:22 Index Funds First 35:17 Automating Early Investing 37:57 DCA vs Loose Cadence 39:35 Avoid Cash Timing Traps 41:58 Rollover Deployment System 45:35 Opportunistic Buys and Trims 46:52 New Positions TJX and QXO 49:24 QXO Strategy and Competition Companies mentioned: ASML, DDOG, ENPH, FSLR, HD, LOW, NVDA, QS, QXO, SBUX, TJX, TSLA, TSM Find where to listen & subscribe,  portfolio contests, and contact information at https://investingunscripted.com ***************************************** To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube ***************************************** Join our Patreon Subscribe to our portfolio on Savvy Trader. Use code Unscripted2026 for 30% off a one-year subscription! Learn more about your ad choices. Visit megaphone.fm/adchoices

After yesterday's tech sell-off sparked by rising oil and yields after fresh U.S. strikes on Iran, investors digest results from Dell and Palo Alto Networks and await Broadcom. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0130-0926) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Yes, physical gold is a safe haven, but gold also attracts a lot of speculative capital, particularly the paper markets. Gold futures are among the most traded futures in the world, and there is nothing physical about them. So when there is a panic, gold tends to sell off along with everything else as liquidity dries up and everyone rushes to cash.The US dollar is actually the safe haven, except that it isn't, because you are bleeding 7 or 8% of value every year to money supply growth.I am getting so many messages at the moment asking me what to do “when the collapse comes”, as though the collapse of fiat is a foregone conclusion. I don't think it is. I think continued depreciation is more likely. Fiat could collapse, of course, but we are in a probabilities game and I'd give it perhaps a 25% probability, while continued depreciation I'd put at well over 50% likelihood.At present we have three financial storms on the horizon. Whether they actually reach us or not remains to be seen, but we should be aware of them nonetheless, so that we can be prepared if they do eventually close in.Nasty stock market correction ahead?They are, first, the fact that US markets are so leveraged to AI. You don't even need the AI bubble to pop, you just need it to deflate a little bit, and it takes the S&P500 down with it.It's not like I, and many others besides, haven't mentioned this before, but it bears mentioning again: the Magnificent Seven, which are highly AI oriented, currently account for about a third of the combined market capitalisation of the S&P's 500 companies. Ten years ago the equivalent concentration was around 15%, and that seemed like a lot.From an asset allocation perspective - particularly with so much passive investing - this is dangerous, to put it mildly. Concentration is fine when markets are going up. If you're concentrated in the right sector you make a lot of money. But when things unravel you get your backside handed to you on a plate. Diversification spreads risk. The S&P500 “should” be diversified. It isn't. Passive investing is supposed to be diversified. It isn't.But this has been the case for a long time. It hasn't mattered. It doesn't matter until it does.Then there is the fact that every mid-term election years have a tendency to deliver autumn drawdowns. According to some sources, every year. If we get a significant drawdown in the S&P500, the safehaven that is gold will sell off too.Wobbly bondsThe second financial storm - is it even on the horizon any more? - lies in the government bond market. It's worth remembering just how large the bond market is. The global value is estimated at around $145 trillion, so larger than the combined stock market which is closer to $130 trillion.You have probably seen headlines this week saying bond markets are “on fire” and that governments are “in hock to the bond market”. Government debt across the developed world - and deficits with it - have risen dramatically since Covid, and the bond markets are not so willing to finance that borrowing at the ultra-low rates of the previous decade. Investors want more yield for their risk. Can't say I blame them.That basically translates as, “if I am to lend you money for ten years, you are going to have to pay me 5% interest, maybe more. 2% is no longer enough.”As yields rise, the cost of servicing debt rises with them. Just a small increase can add tens of billions to annual interest payments.The US has the enormous advantage of issuing the world's reserve currency, but its huge structural deficits mean it is vulnerable. Japan, Britain, France and Italy are particularly at risk because they combine high debt burdens with fiscal or political problems.Higher yields mean higher interest payments, which make deficits larger, requiring governments to issue still more debt. Vicious circle time. Governments try to avoid this by issuing shorter-term debt, but that merely increases refinancing exposure. The US Treasury's increasing reliance on shorter maturities is therefore a concern.Politicians might promise to spend more, but somebody has to buy their debt. If investors want a significantly higher return, governments may find that fiscal policy is increasingly dictated by the bond market rather than by politicians.You may see that as a good thing and it probably is. Government spending has to be reined in somehow. But higher interest rates will put pressure on real estate and equities, and they increase the likelihood of defaults, which tend to snowball. See 2008 for more details.Defaults should also increase demand for gold, because there is no liability or counterparty. But that doesn't happen straight away, necessarily. The liquidity has to come out of the market first, and that means everything goes lower. Just gold doesn't go down quite as much and it turns back up first.The reaction of governments to a debt crisis will of course be to print. And that too benefits gold.Which brings us to financial storm number three on the horizon, although this one is really a subset of two.The UK. It is a standout amongst all of this. Our interest rates are already high, which means greater pressure on the government (they are the main reason sterling has held up). We have a new Prime Minister, who is currently trying to buy popularity and who seems to think that the solution to many of the UK's problems is more government spending, not less, and that will require more borrowing and higher taxes. But he has inherited a precarious fiscal position and a bond market that is already demanding a substantial return. Ten-year gilt e yields have risen above 5%, their highest level in 18 years, and longer-term borrowing costs have reached a 28-year high, with 30-year gilt yields closing down on 6%.The political situation is also awkward. The combined right-wing vote exceeds the Labour vote by some considerable distance, but it is split between the Tories, Reform and Restore. Does Burnham exploit this to call an early election? Will his backbenchers even let him if he wants to do this? Will an early election mean greater or less stability?On the other hand high rates are at least propping sterling up. I say propping up. On a purchasing power parity basis, the UK is actually cheap and sterling too. Doesn't mean it can't get cheaper. As UK nationals, we have inevitable exposure to sterling, but the prudent thing for a UK citizen to do is reduce sterling exposure. Hold non-government currencies is my advice: gold and bitcoin. I'll have more on the la tter soon.BOLD.L might be the way. Most roads lead to gold at the moment but they are rocky roads.If you live in a third world country such as the UK, I urge you to own gold or silver. The pound will be further devalued, as will the euro and dollar. The bullion dealer I use and recommend is The Pure Gold Company. They deliver to the UK, the US, Canada and Europe. More here.Other mattersI have turned my Britain On Sale series of seven undervalued companies that could be taken out during the current takeover frenzy into a downloadable PDF report. Here it is.There is a real opportunity here right here and now. I cannot stress that enough. The UK is cheap and being bought up.And last but not least, The Secret History of Gold is now out in paperback in the UK, so get your copy now. It has had excellent reviews and has now reached best seller status, I'm delighted to report, with the audiobook especially popular. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.theflyingfrisby.com/subscribe

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 Mark Mascarenhas. Purpose of the Interview The interview aims to educate listeners—especially entrepreneurs, small business owners, and aspiring millionaires—on financial planning, wealth management, and risk mitigation strategies. It emphasizes the importance of discipline, clarity, and professional guidance in achieving financial success and sustaining wealth across generations. Key Takeaways Financial Planning is Foundational A written financial plan is the first step before any investment portfolio is built. Success is defined individually—financial, health, or lifestyle goals. Diversification & Risk Management Digital assets like Bitcoin should only make up 2–3% of a portfolio for high-net-worth clients with high risk tolerance. Fear and greed drive markets; advisors help clients maintain discipline. Long-Term Care & Insurance Planning for long-term care is essential, typically starting in your 50s. Term life insurance early locks in health; whole life policies provide stability and living benefits. Tax Strategy Use tax-loss harvesting, asset location strategies, and estate planning to minimize tax burdens. Estate planning focuses on transferring wealth tax-efficiently to future generations. Millionaire Mindset Millionaires are clear, disciplined, optimistic, and collaborative. 74% of millionaires work with financial advisors vs. 34% of the general population. Power of Compounding Compounding interest is the cornerstone of wealth accumulation—requires patience and discipline. Avoid lifestyle creep and impulsive spending, especially for younger millionaires and influencers. Fiduciary Responsibility Advisors act in the client’s best interest; success is mutual. Trust and transparency are critical in client-advisor relationships. Notable Quotes On Risk & Bitcoin:“You could potentially double your money, but you could also potentially lose 70% of it.” On Financial Planning:“Every dollar needs a job description.” On Millionaire Mindset:“Successful people view us as CFOs—they’re the CEOs.” On Compounding:“If you could win 72% of the time, would you play that game? Yes. That’s the stock market.” On Retirement Success:“Living the same or better lifestyle in retirement than you do today while working.” On Fiduciary Role:“We make more money when the client makes more money.” #SHMS #BEST #STRAW Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcastSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

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 Mark Mascarenhas. Purpose of the Interview The interview aims to educate listeners—especially entrepreneurs, small business owners, and aspiring millionaires—on financial planning, wealth management, and risk mitigation strategies. It emphasizes the importance of discipline, clarity, and professional guidance in achieving financial success and sustaining wealth across generations. Key Takeaways Financial Planning is Foundational A written financial plan is the first step before any investment portfolio is built. Success is defined individually—financial, health, or lifestyle goals. Diversification & Risk Management Digital assets like Bitcoin should only make up 2–3% of a portfolio for high-net-worth clients with high risk tolerance. Fear and greed drive markets; advisors help clients maintain discipline. Long-Term Care & Insurance Planning for long-term care is essential, typically starting in your 50s. Term life insurance early locks in health; whole life policies provide stability and living benefits. Tax Strategy Use tax-loss harvesting, asset location strategies, and estate planning to minimize tax burdens. Estate planning focuses on transferring wealth tax-efficiently to future generations. Millionaire Mindset Millionaires are clear, disciplined, optimistic, and collaborative. 74% of millionaires work with financial advisors vs. 34% of the general population. Power of Compounding Compounding interest is the cornerstone of wealth accumulation—requires patience and discipline. Avoid lifestyle creep and impulsive spending, especially for younger millionaires and influencers. Fiduciary Responsibility Advisors act in the client’s best interest; success is mutual. Trust and transparency are critical in client-advisor relationships. Notable Quotes On Risk & Bitcoin:“You could potentially double your money, but you could also potentially lose 70% of it.” On Financial Planning:“Every dollar needs a job description.” On Millionaire Mindset:“Successful people view us as CFOs—they’re the CEOs.” On Compounding:“If you could win 72% of the time, would you play that game? Yes. That’s the stock market.” On Retirement Success:“Living the same or better lifestyle in retirement than you do today while working.” On Fiduciary Role:“We make more money when the client makes more money.” #SHMS #BEST #STRAW Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcastSee omnystudio.com/listener for privacy information.

Today's guest on The Long View is David Booth. David is a repeat guest, the founder of Dimensional Fund Advisors, and has just released a new book titled Stay Calm: Learn to Embrace Uncertainty in Investing and Life. One of the interesting through lines on the episode really centered on data. David explained that without data, people are just arguing beliefs. There was so much time within the industry where investors really were in a data desert. That foundational layer was critical to everything that David, his colleagues at Dimensional, and so many others around the broader investing industry have ultimately brought to bear for the benefit of so many investors over the years. Plus, David explained that having access to a more complete dataset can really help provide a sense of calmness and reassurance for investors, even in an uncertain environment. Episode Highlights 00:00:00 Introduction 00:03:21 How Market Data Revolutionized Investing 00:09:22 Learning From Eugene Fama 00:16:16 Communicating Financial Science 00:20:40 What is the Efficient-Market Hypothesis? 00:24:11 Diversification and the Limits of Indexing 00:32:37 Is Dimensional Active or Passive? 00:34:24 The Science Behind Factor Investing 00:40:29 Trusting Markets and Embracing Uncertainty More From Morningstar David Booth: ‘Usually the Great Ideas Start Out as Small Ideas and Then You Build on Them' Don Phillips: Encouraging Better Outcomes for Investors Charley Ellis: Indexing Is a Marvelous Gift If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine's weekly newsletter, Improving Your Finances. If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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 Mark Mascarenhas. Purpose of the Interview The interview aims to educate listeners—especially entrepreneurs, small business owners, and aspiring millionaires—on financial planning, wealth management, and risk mitigation strategies. It emphasizes the importance of discipline, clarity, and professional guidance in achieving financial success and sustaining wealth across generations. Key Takeaways Financial Planning is Foundational A written financial plan is the first step before any investment portfolio is built. Success is defined individually—financial, health, or lifestyle goals. Diversification & Risk Management Digital assets like Bitcoin should only make up 2–3% of a portfolio for high-net-worth clients with high risk tolerance. Fear and greed drive markets; advisors help clients maintain discipline. Long-Term Care & Insurance Planning for long-term care is essential, typically starting in your 50s. Term life insurance early locks in health; whole life policies provide stability and living benefits. Tax Strategy Use tax-loss harvesting, asset location strategies, and estate planning to minimize tax burdens. Estate planning focuses on transferring wealth tax-efficiently to future generations. Millionaire Mindset Millionaires are clear, disciplined, optimistic, and collaborative. 74% of millionaires work with financial advisors vs. 34% of the general population. Power of Compounding Compounding interest is the cornerstone of wealth accumulation—requires patience and discipline. Avoid lifestyle creep and impulsive spending, especially for younger millionaires and influencers. Fiduciary Responsibility Advisors act in the client’s best interest; success is mutual. Trust and transparency are critical in client-advisor relationships. Notable Quotes On Risk & Bitcoin:“You could potentially double your money, but you could also potentially lose 70% of it.” On Financial Planning:“Every dollar needs a job description.” On Millionaire Mindset:“Successful people view us as CFOs—they’re the CEOs.” On Compounding:“If you could win 72% of the time, would you play that game? Yes. That’s the stock market.” On Retirement Success:“Living the same or better lifestyle in retirement than you do today while working.” On Fiduciary Role:“We make more money when the client makes more money.” #SHMS #BEST #STRAW Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcastSteve Harvey Morning Show Online: http://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

In this episode of the Colombia Calling podcast, Richard McColl interviews Simon Faulkner - Senior Lecturer of Academic Excellence at University College Birmingham - about the impact of natural disasters on Colombia's tourism industry, exploring recovery models, infrastructure challenges, and strategies for building resilient destinations. Key topics: Disaster management frameworks in tourism Impact of earthquakes on Colombian destinations Infrastructure challenges in Colombia's tourism sector Community involvement in recovery efforts Diversification of tourism products post-disaster  Sustainable tourism development in Colombia.    The Colombia Briefing is reported by Emily Hart.  

After the week began with oil surging on new violence in the Middle East and yields up, investors await July job openings data and earnings later from Dell and Palo Alto Networks. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0130-0926) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David Rosenberg believes investors are overlooking a growing disconnect between market optimism and the underlying economy. In this conversation with Maggie Lake, Rosenberg explains how he is positioning for a more fragile economic backdrop — including exposure to equities, bonds and hard assets — and why he currently sees opportunity at the front end of the Treasury curve. He also takes direct aim at the AI boom, arguing that the biggest risk may not be the technology itself, but investor behavior surrounding it. Rosenberg points to surging margin debt, historically low cash levels, extreme equity exposure and elevated valuations as signs that the market is displaying familiar bubble characteristics. He also breaks down why the recent rise in Treasury yields may be more about uncertainty and real rates than inflation expectations alone, and why he still believes the next major shift could come from the labor market. Looking toward the fourth quarter, Rosenberg says repeated negative payroll prints and a rising unemployment rate could force investors — and the Fed — to shift their focus away from inflation and back toward recession risk. Could the market narrative flip faster than investors expect?

What if retirement isn't about reaching a certain age, but deciding you're ready for a new chapter? Inspired by the life and legacy of Dolly Parton, Kevin Madden discusses how purpose, financial readiness, and confidence shape retirement decisions. The conversation explores creating reliable retirement income, the role of guaranteed income strategies, and why retirees often spend differently when income feels like a paycheck. Kevin also shares thoughts on diversification, avoiding investment hype, and building a retirement plan focused on long-term goals rather than chasing market trends. Get Your Complimentary Retirement Roadmap Your roadmap will include: A retirement income strategy A test to see how long your money will last A tax-planning strategy See omnystudio.com/listener for privacy information.

Fed Chairman Kevin Warsh left the market anxious Friday about possible rate hikes, with odds for a September hike up sharply. Jobs data this week could help shape the decision.Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today, Paul brings an article warning investors not to get stuck with a 401(k) that's “too big” without a tax plan. Paul rebuts the claim that most people don't struggle with having saved too much in their 401(k), but agrees that putting all your eggs in one tax basket can be a problem when you haven't thought through what your current tax bracket is and what it may be when you retire. Listen along as the Investor Coach explains tax diversification and why having a combination of 401(k), Roth IRAs, and non-qualified accounts can give you more options in a future where no one knows what the tax laws will be.      Want to cut through the myths about retirement income and learn evidence-based strategies backed by over a century of data? Download our free Retirement Income Guide now at paulwinkler.com/relax and take the stress out of planning your retirement.   This material is for general educational purposes only and is not personalized investment, financial, tax, or legal advice. Past performance does not guarantee future results. Nothing here is an offer, solicitation, or recommendation for any security or strategy. All financial decisions involve risk, and you should consult qualified professionals before acting on this information. Advisory services offered through Paul Winkler, Inc., an SEC-registered investment adviser. 

OpusClip: Add the most efficient editor to your team, try OpusClip AI Producer today at https://opus.pro/ich Whatnot: $500 GIVEAWAY! Sign up to Whatnot using my link https://www.whatnot.com/invite/IcedCoffeeHour and follow me on Whatnot. Winner will be picked in a month. Get $15 OFF with the same link! #whatnotpartner Even Realities: Go to https://evenrealities.bio/icedcoffee and use code ICEDCOFFEE for 10% off Even R1 and/or Even Clip when you add them to your Even G2 order Shopify: Stop waiting for permission to build something. Your next revenue stream starts free at https://shopify.com/ich NO PURCHASE NECESSARY. Open to legal residents of the 50 U.S. states and D.C., 18+. To enter: (i) Sign up to Whatnot using the following link https://www.whatnot.com/invite/IcedCo..., and (ii) follow the following Whatnot account @IcedCoffeeHour. One entry per person. Entries must be received by September 29th at 11:59:59 p.m. PT. Winner selected at random on or about September 30th. Winner will be notified via the email associated with their Whatnot account and must respond within 5 days or prize may be forfeited and an alternate winner selected. Prize: $500 of Whatnot credit redeemable for purchases on the Whatnot platform (ARV: $500). Winner is responsible for all applicable taxes. This promotion is not sponsored, endorsed, or administered by YouTube. Sponsored by The Iced Coffee Hour. Void where prohibited. Follow  @TheStradman  Here! *

Time stamps  00:00  - Intro  7:47 - David's Early beginnings  16:38 - Houston RC Scene back in the day  22:00 - Slick tires: Where born at M&Ms 24:16 - When did David Start Travelling  26:12 - Driving for XRAY RC America  28:50 - Chris Crews - Crews Control  30:33 - The ⅛ Off-Road Boom  32:08 - Reno Savoya and the attitude era of ⅛ rc  36:43 - David Spashett story  38:59 - Is ⅛ bigger now than 1/10 & Diversification of Avid  52:06 -  Avid & Kurt Wenger Split ways And Other Bearing Companies  56:43 - How did Avid survive over the years  59:53 - Pivot to Tires or Car? 1:10:31 - How Joor Told Jason Avid was making tires. 1:16:36 - Working with the Competetion  1:20:29 - Carpet Tire Design & ⅛ Tires  1:23:50 - Cost of making tires  1:28:57 - Sponsorship & Is RC Still Cheap to Race  1:34:28 - Spec Tires  1:44:47 - Carpet Racing the Future  1:51:53 - David's local track: & other opinions for tracks 1:59:36 - Sponsored Culture  2:14:20 - Still Selling Bearings & Future of Avid 

This episode of On Investing looks at a market environment increasingly shaped by persistent inflation, rising long-term Treasury yields, fiscal concerns, and renewed trade tensions. Liz Ann Sonders and Collin Martin begin by discussing the latest inflation data, which continues to show price pressures well above the Federal Reserve's 2% target. While wage growth is not driving inflation, they highlight several other forces keeping inflation elevated, including energy prices, tariffs, and the massive investment required to support the AI boom. The conversation then turns to Treasury Secretary Scott Bessent's efforts to influence long-term interest rates after yields surged. Collin argues that Bessent's actions are understandable given concerns about mortgage rates and borrowing costs, but he views them as a short-term response to a much deeper issue: the nation's growing debt burden and ongoing fiscal deficits. Both hosts suggest that attempts to manage yields address the symptoms rather than the underlying causes. They also explore the potential tension this creates with the Federal Reserve, which may prefer tighter financial conditions to combat inflation. The episode closes with a look ahead to the Fed's Jackson Hole conference, upcoming labor market reports, purchasing manager surveys, and other economic data that could shape expectations for both growth and Fed policy. You can read the report Liz Ann mentions here: "Great Moderation Era: Drift(ing) Away." On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Past performance is no guarantee of future results. Investing involves risk, including loss of principal. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Investing in alternative investments is speculative, not suitable for all clients, and generally intended for experienced and sophisticated investors who are willing and able to bear the high economic risks of the investment. Investors should obtain and carefully read the related prospectus or offering memorandum, which will contain the information needed to help evaluate the potential investment and provide important disclosures regarding risks, fees and expenses. Commodity-related products carry a high level of risk and are not suitable for all investors. Commodity-related products may be extremely volatile, may be illiquid, and can be significantly affected by underlying commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions. All names and market data shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data. The policy analysis provided by Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see Schwab.com/IndexDefinitions Negative correlation refers to investments that tend to move in opposite directions: when one rises, the other falls. (0826-1AXY) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The 10 a.m. ET speech today by Fed Chair Kevin Warsh is likely the day's biggest news, coming a day after technology stocks drove indexes higher. Crude and yields crept up, too. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Robinhood says it wants to be everything to investors—but its fastest-growing attractions look a lot like a casino. Don and Tom examine prediction markets, options, crypto, payment for order flow, and the uneasy fit between fiduciary advice and a brightly lit door to speculation.They explain why gamification and enormous transfer bonuses can be especially dangerous for inexperienced investors. If the goal is long-term wealth rather than entertainment, a boring, diversified custodian still beats a platform built to monetize trading excitement.Then they answer questions about using bonds during a retirement downturn, combining CD ladders with target-date funds, the trap behind eye-popping mortgage REIT dividends, and better ways to give money to grandchildren.1:03 — Robinhood and its merry band of revenue streams3:00 — Vlad Tenev explains the financial supermarket5:36 — A fiduciary office beside a casino door8:28 — Monetizing speculation instead of investing13:14 — Using bonds when retirement begins in a downturn21:06 — CD ladders and target-date funds23:36 — The truth behind 17% REIT dividends27:28 — UTMA, UGMA, 529s, and gifts for grandchildrenQuestions? Comments? Click!

With the United States' national debt now topping $40 trillion, Peter and Charlie discuss how we got here, whether we can grow our way out of it, what an actual debt crisis would look like and more. Plus, get their take on whether a U.S. debt crisis is a signal or just noise.

Nvidia's results are likely to drive the market today ahead of Friday's speech from Fed Chairman Kevin Warsh. Investors are also digesting results from Salesforce and Crowdstrike. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In today's episode we talk with a pioneer of modern asset management, Dimensional Fund Advisors founder David Booth. David founded Dimensional in 1981 and it has since grown to over $1 trillion in assets, making it one of the most successful quantitative investment firms in history. We talk with him about his new book, Stay Calm: Learn to Embrace Uncertainty in Investing and Life. We discuss his early career working on both the world's first index fund and the first active quant strategy developed by finance legends Fischer Black and Myron Scholes. David explains why successful investing involves embracing uncertainty - because it is that uncertainty that generates long-run returns. He explains why we should abandon predicting markets and focus instead on planning. We end by discussing why he is both a realist and optimist and how each of us can cultivate the same mindset.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Kevin on SubStack & read his Book.Follow David on LinkedIn and Read his Book.Episode TimeStamps: 00:00 - Why uncertainty creates opportunity for long term investors01:01 - David Booth's journey from Kansas to pioneering modern investing06:13 - The birth of index investing and the origins of Dimensional10:21 - Why investing is about managing uncertainty not predicting markets13:00 - Why everyone should own part of the market14:00 - Human ingenuity, market resilience and the lessons of history18:02 - Updating research without abandoning first principles23:38 - Has the rise of index investing changed the market?28:45 - Diversification beyond the Magnificent Seven29:52 - Tuning out market noise and focusing on what matters32:23 - Why life events should shape your portfolio more than headlines34:53 - Plan don't predict and learning to stay calm39:02 - Optimism, realism and why markets continue to work42:33 - Why investors have never had it betterCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

The market's long winning streak has investors wondering whether a crash is waiting in the wings. Don and Tom look at the S&P 500's run, the lost decade that followed the 1990s boom, and why international diversification changed that outcome dramatically.They also explain why market timing asks the impossible: missing the worst days sounds wonderful, but missing the best days can be devastating. The less theatrical answer is still the useful one—make a plan, understand your tolerance for risk, diversify broadly, and sit still.Then it's on to a near-retiree offered a portfolio stuffed with individual stocks, whether international bonds belong in a simple portfolio, why a professionally managed 20-fund portfolio is different from a DIY one, and how to rebalance when Roth and traditional accounts complicate the job.3:33 — A historic market streak—and what might follow4:31 — The lost decade diversification softened7:08 — Why timing the best and worst days fails9:22 — The boring answer: plan, diversify, be patient14:04 — Individual stocks on the eve of retirement?23:02 — A quick Celebration restaurant detour24:28 — Do international bonds belong in your portfolio?27:38 — When 20 funds are too many—or not32:24 — Rebalancing across Roth and traditional accountsQuestions? Comments? Click!

Investors will have plenty to monitor today. The Fed's favorite inflation gauge and GDP data are due this morning, while Nvidia and other major tech earnings arrive after the bell. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.  Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today's guest is Jerry Parker, founder and CEO of Chesapeake Capital and one of the original Turtles trained by Richard Dennis. Together we run the Cambria Chesapeake Pure Trend ETF (MFUT). In today's episode, Jerry explains why managed futures isn't the same as trend following. He breaks down the math and psychology of hunting outliers, letting a few winners pay for many small losses, and why he'd never chase crisis alpha at the cost of returns. To close, Jerry explains why MFUT trades individual stocks rather than just indices. Learn more about the Cambria Chesapeake Pure Trend ETF www.cambriafunds.com/mfut Have questions? Reach out to us any time at info@cambriainvestments.com. Full show notes: Link (0:00) Jerry Parker (3:09) Trend following vs managed futures (11:00) Misconceptions about crisis alpha (18:42) Portfolio construction, volatility targeting, and strategy complexity (23:47) Trend following in individual stocks  (32:18) Performance reflection and importance of sticking to a strategy (37:46) Allocation challenges and memorable recent trades TO DETERMINE IF THIS FUND IS AN APPROPRIATE INVESTMENT FOR YOU, CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISK FACTORS, CHARGES AND EXPENSE BEFORE INVESTING. THIS AND OTHER INFORMATION CAN BE FOUND IN THE FUND'S FULL OR SUMMARY PROSPECTUS WHICH MAY BE OBTAINED BY CALLING 855-383-4636 (ETF INFO) OR VISITING OUR WEBSITE AT WWW.CAMBRIAFUNDS.COM. READ THE PROSPECTUS OR SUMMARY PROSPECTUS CAREFULLY BEFORE INVESTING OR SENDING MONEY. Past performance is not indicative of future results. The material above has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The Cambria ETFs are distributed by ALPS Distributors Inc., 1290 Broadway, Suite 1000, Denver, CO 80203, which is not affiliated with Cambria Investment Management, LP. MFUT: This fund is new and has a limited operating history. There is no guarantee that the Fund will achieve its investment goal. Investing involves risk, including the possible loss of principal. Commodities Risk: Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Fixed Income Securities Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer's credit rating or market perceptions about the creditworthiness of an issuer. Foreign Securities Risk: The Fund may invest in foreign securities. Such investments involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies. Leverage Risk: The derivative instruments in which the Fund may invest provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. If the Fund uses leverage through purchasing derivative instruments, the Fund has the risk that losses may exceed the net assets of the Fund. Derivatives Risk: Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, commodities, currencies, funds (including ETFs), interest rates or indexes. Short Selling Risk: If a security sold short or other instrument increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. Commodity-Linked Derivatives Tax Risk: The tax treatment of commodity-linked derivative instruments may be adversely affected by changes in legislation, regulations, or other legally binding authority. Non-Diversification Risk: Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. Commodities Risk. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Fixed Income Securities Risk. The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer's credit rating or market perceptions about the creditworthiness of an issuer. Foreign Securities Risk. The Fund may invest in foreign securities. Such investments involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies. Leverage Risk. The derivative instruments in which the Fund may invest provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. If the Fund uses leverage through purchasing derivative instruments, the Fund has the risk that losses may exceed the net assets of the Fund. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, commodities, currencies, funds (including ETFs), interest rates or indexes. Short Selling Risk. If a security sold short or other instrument increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. Commodity-Linked Derivatives Tax Risk. The tax treatment of commodity-linked derivative instruments may be adversely affected by changes in legislation, regulations, or other legally binding authority. Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. New Fund Risk. The Fund is a recently organized management investment company with no operating history. Diversification does not guarantee against a loss.  Definitions: Alpha: The portion of an investment's return that differs from its benchmark after adjusting for risk, measured over a specific historical period and not predictive of future results. Crisis Alpha: Returns a strategy seeks to generate during periods of significant equity market stress — a stated objective, not a guaranteed or expected outcome. Stop Loss: A standing order to sell a security once it reaches a specified price, which does not guarantee execution at that price in fast-moving or gapping markets. Trailing Stop: A stop order set at a fixed distance from the market price that adjusts upward as the price rises and holds when it falls, carrying the same execution risks as a stop loss. Shorting: Selling a borrowed security intending to repurchase it later, which profits if the price falls and carries theoretically unlimited loss potential if the price rises. Correlation: A statistical measure of how two assets move relative to one another, ranging from -1.0 to +1.0, which changes over time and often rises during market stress. Derivatives: Financial contracts deriving value from an underlying asset, rate, or index — including futures, options, and swaps — that may involve leverage, counterparty risk, and losses exceeding the initial investment. Futures: Standardized exchange-traded contracts to buy or sell an asset at a set price on a future date, traded on margin so that leverage magnifies both gains and losses. Long: Owning or holding a position expected to benefit from an increase in the price of the underlying asset. S&P GSCI (formerly the Goldman Sachs Commodity Index): A production-weighted, energy-heavy index of commodity futures created by Goldman Sachs in 1991 and acquired by S&P in 2007, which is unmanaged and cannot be invested in directly. Get Stopped Out: Having a position closed automatically when a stop order triggers, which can occur on a temporary price move and exit the position before any recovery. MSCI EAFE Index: A market-capitalization-weighted index of developed-market equities outside the US and Canada, covering Europe, Australasia, and the Far East, which is unmanaged and not directly investable. MSCI Emerging Markets Index: A market-capitalization-weighted index of equities across emerging-market countries, which is unmanaged and not directly investable. Commodity Trading Advisor (CTA): An individual or firm advising others on futures, options on futures, or certain swaps, generally required to register with the CFTC and join the NFA — registration that implies no skill level or regulatory endorsement.

Consumer confidence and new home sales reports are on the menu today, but attention remains on looming Nvidia earnings and PCE inflation data amid brewing trade tensions. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.  Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Fed's favored inflation gauge, the Jackson Hole Symposium, and Nvidia earnings highlight a critical week with oil prices and Treasury yields rising. Important Disclosures This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for their own particular situation before making any investment or trading decisions. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. For illustrative purposes only. Individual situations will vary. Not intended to be reflective of results you can expect to achieve. Investing involves risk, including, for some products, more than your initial investment. Past performance is no guarantee of future results. Supporting documentation for any claims or statistical information is available upon request. Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets. Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed-income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here. Schwab does not recommend the use of technical analysis as a sole means of investment research. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.  Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0131-0826) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As a banker, I was once asked to make a loan to a businessman who owned nothing except one stock worth $2 million, but he owed $1 million against that stock.  I was surprised by his lack of diversification. I declined his loan request.   Later, that stock plummeted and he was forced to sell with a deep loss.  Jesus began a parable by stating that a master entrusted his wealth ... The post Wise Diversification appeared first on Unconventional Business Network.

Fertilizer prices have become one of the biggest concerns facing farmers, particularly at a time when commodity prices are putting tremendous pressure on farm margins. Ohio Corn & Wheat is calling for more competition and transparency in the fertilizer market, and the Federal Trade Commission is now involved. Hear from leaders of Ohio Corn & Wheat about what they hope this investigation will change about the fertilizer industry. Plus, Diversification remains a popular strategy for strengthening farm operations, but as margins remain tight and uncertainty continues across agriculture, the conversation has shifted from whether to diversify to how farmers can identify the right opportunities, evaluate risk, and build lasting value. Farm Credit Mid-America dives deeper into the conversation on this Ohio Ag Net Podcast, powered by Ohio Corn & Wheat.

John Walker and Jason O'Meara discuss the difference between investment philosophy and investment strategy and why it's important to understand the distinction.  Disclosure: For general information purposes only. No portion of the podcast serves as the receipt of, or as a substitute for, personalized investment advice from Mercer Advisors. All expressions of opinion reflect the judgment of the speaker as of the date of recording and are subject to change. Some of the research and ratings provided in this podcast come from third parties that are not affiliated with Mercer Advisors. The information is believed to be accurate but is not guaranteed or warranted by Mercer Advisors. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related planning services, discussion, or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. This podcast does not imply a recommendation or solicitation to buy or sell any referenced security or engage in any particular investment strategy. Diversification and asset allocation do not ensure a profit or guarantee against loss. Past performance may not be indicative of future results. Historical performance results for investment indexes and/or asset classes, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results. Economic factors, market conditions, and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark. The podcast may contain forward-looking statements including statements regarding our intent, belief or current expectations with respect to market conditions. Listeners are cautioned not to place undue reliance on these forward-looking statements. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. No portion of the content should be construed by a client or prospective client as a guarantee that they will experience a certain level of results if Mercer Advisors is engaged, or continues to be engaged, to provide investment advisory services. Private investments are subject to substantial risks, including limited liquidity. Therefore, private investments are not suitable for all investors. Options investing involve unique risks, tax consequences and commission charges and are not suitable for all investors.

Being great at running a company does not make anyone a market oracle. Don and Tom unpack the money regrets of successful CEOs—and the costly confidence that often follows success.They draw the line between business skill and investment skill, explain why financial literacy matters, and make the case for diversification over hindsight, stock-picking games, and concentrated bets.Then they turn to listener questions on catching up at 43, investing a church endowment, an underperforming robo portfolio, and where stock dividends should go near retirement.Topics03:46 CEOs, money regrets, and false confidence08:10 Financial literacy without the stock-picking game10:21 Tesla hindsight and the bets we didn't make11:41 Asset allocation and the cost of being too conservative15:20 Business owners and concentration risk17:48 Catching up on retirement saving at 4321:22 A 60/40 church endowment with a 2.5% draw23:12 When a robo portfolio badly trails the market25:35 Dividends, bonds, and rebalancing near retirementQuestions? Comments? Click!

Risk is unavoidable in investing—and in life. But not all risks deserve equal attention. It is easy to focus primarily on the probability that something will happen. If an investment, career move, or financial strategy has a high likelihood of succeeding, we may assume it is a good decision. But Mark Biller, Executive Editor at Sound Mind Investing, suggests another question may be even more important: If things go wrong, how wrong could they go? That shift—from focusing on probabilities to considering consequences—can help us make wiser financial decisions and protect ourselves from risks that could permanently derail our plans. A Small Probability Can Carry a Huge Consequence Suppose someone told you there was a 99% chance an opportunity would succeed. Those odds sound compelling. But what if the remaining 1% chance of failure meant complete financial ruin? Suddenly, the decision looks very different. A simple illustration is crossing a busy street. The probability of being hit by a vehicle may be relatively small, but we still look both ways because the potential consequence is catastrophic. A low probability does not make a severe consequence irrelevant. The same principle applies to investing. An outcome may be statistically unlikely, but if it could wipe out your savings, destroy your retirement plan, or leave you unable to meet your obligations, it deserves serious consideration. Financial thinker Peter Bernstein summarized the principle well: the consequences of being wrong can matter more than the probabilities of being right. That leads to two important questions: If this goes wrong, how wrong could it go?  And how much would it matter? Why Humility Matters in Investing Financial history offers plenty of reminders that even highly intelligent investors cannot anticipate every outcome. One famous example is the collapse of Long-Term Capital Management in 1998. The hedge fund was run by some of the brightest minds in finance and relied on sophisticated mathematical models. Those models worked under most circumstances—but a combination of leverage and extraordinary market conditions caused enormous losses. The lesson is not that investors should avoid risk altogether. Risk is part of investing. Rather, wise investors recognize the limits of their knowledge. We cannot predict every market decline, economic shock, or unexpected life event. That reality should lead us toward humility and encourage us to build financial plans with room for error. Build a Margin of Safety One practical way to prepare for uncertainty is to maintain a margin of safety. That begins before investing. A strong financial foundation includes reducing burdensome debt and establishing adequate emergency savings. Then, as you invest, diversification can help reduce the danger of concentrated bets, while avoiding excessive leverage can protect against losses that permanently impair your financial position. The goal is not to eliminate every possible risk. That would be impossible. Instead, margin allows your plan to survive when circumstances do not unfold as expected. Biblical wisdom encourages this kind of prudence. Proverbs 22:3 says: “The prudent sees danger and hides himself, but the simple go on and suffer for it.” Wise stewardship does not require us to live fearfully. But it does call us to recognize potential danger and prepare appropriately. Your Emergency Fund Protects More Than Emergencies An emergency fund may seem separate from an investment portfolio, but the two are closely connected. Think of investing like climbing a ladder. Before climbing higher, you want to make sure the ladder is resting on firm ground. Emergency savings provide that foundation. Unexpected expenses are inevitable. A furnace fails. A vehicle needs replacing sooner than expected. A major repair suddenly becomes necessary. Without adequate savings, those expenses may force you to sell investments at exactly the wrong time—perhaps when the market is down significantly. What began as an ordinary household expense can then cause lasting damage to a long-term investment plan. An emergency fund creates financial breathing room so temporary problems do not become permanent setbacks. Protecting Retirees From Sequence-of-Returns Risk Consequences become especially important as retirement approaches. One risk retirees face is known as sequence-of-returns risk. This occurs when significant investment losses happen early in retirement while a retiree is simultaneously withdrawing money from the portfolio. Two retirees could experience similar average investment returns over several decades but have very different outcomes depending on when the losses occur. A steep market decline early in retirement can be particularly damaging because withdrawals compound those losses. Even strong returns later may not fully repair the damage. Diversification can help manage this risk. Some retirees also choose to keep several years of anticipated spending in cash or relatively low-risk investments so they are less likely to sell stocks during a severe market downturn. The appropriate strategy will vary by household, but the principle remains the same: consider not only what is likely to happen, but what would happen to your plan if difficult circumstances arrived at an inconvenient time. How Much Risk Can You Afford? Risk tolerance is often discussed in terms of emotion: How comfortable are you when markets fall? That matters, but consequence-based thinking adds another dimension. Ask what would happen if an investment or strategy failed. Would the loss merely be disappointing? Or would it prevent you from retiring, eliminate your emergency reserves, jeopardize your home, or keep you awake at night? If a negative outcome would derail your financial goals, you may be taking more risk than you can afford—even if the probability of success appears high. On the other hand, if you can absorb the downside without seriously damaging your financial plan, then probability can play a larger role in the decision. This framework also guards against becoming too conservative. Avoiding stocks entirely in retirement may reduce short-term market volatility, for example, but it introduces another potential consequence: a portfolio may fail to keep pace with inflation over a retirement that lasts several decades. Wise risk management considers both sides. Stewardship Leaves Room for the Unexpected We cannot know exactly what markets, inflation, interest rates, or the economy will do next. And Scripture never promises that careful planning will remove uncertainty from our lives. Our confidence ultimately rests somewhere deeper. As Christians, we believe God is sovereign and that our ultimate security is found in Christ—not in the performance of our portfolios. That frees us to approach financial decisions with both wisdom and humility. We can plan carefully without pretending we know the future. We can prepare for risk without being ruled by fear. And we can leave margin in our finances because we recognize our own limitations. The goal is not to predict every possible outcome. It is to build a financial life capable of enduring when some of our predictions inevitably prove wrong. Before taking a significant financial risk, don't simply ask, “What are the odds that this will work?” Ask one more question: “If it doesn't, can my financial plan withstand the consequences?” That question may be one of the most valuable safeguards a wise steward can use. On Today's Program, Rob Answers Listener Questions: My son and daughter-in-law have a car loan with a payment over $900 a month and likely a very high interest rate because of poor credit. Are there any options to refinance, reduce the rate, or lower the payment? I'll reach full retirement age later this year and plan to keep working. Should I start Social Security then so I can save, invest, and give more, or delay benefits to receive a larger amount later? Resources Mentioned: Faithful Steward: FaithFi's Quarterly Magazine (Become a FaithFi Partner) Sound Mind Investing (SMI) Focus on Consequences, Not Probabilities (Article by Austin Pryor at Sound Mind Investing) When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein Master Your Money: A Step-by-Step Plan for Experiencing Financial Contentment by Ron Blue with Michael Blue Christian Credit Counselors FaithFi Field Guide: How Much Money is Enough?  Our Ultimate Treasure: A 21-Day Journey to Faithful Stewardship by Rob West Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety Rich Toward God: A Study on the Parable of the Rich Fool Find a Certified Kingdom Advisor® (CKA) FaithFi App Remember, you can call in to ask your questions every weekday at (800) 525-7000. Faith & Finance is also available on Moody Radio Network and American Family Radio. You can also visit FaithFi.com to connect with our online community and partner with us as we help more people live as faithful stewards of God's resources. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Alan Dunne is joined by Mike Pyle, Deputy Head of BlackRock's Portfolio Management Group, to explore how a supply-driven world is reshaping markets and portfolio construction. They discuss the transition from the demand-constrained 2010s to an era defined by scarcity, fiscal activism, geopolitical shocks and the immense capital demands of AI. Pyle explains why bonds may no longer provide the diversification they once did, why hedge funds and market-neutral strategies are becoming increasingly important, and how portable alpha can separate beta from return generation. They also examine AI productivity, equity valuations and what should replace the traditional 60/40 portfolio.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Mike on LinkedIn.Episode TimeStamps: 00:00 Mike Pyle's journey from policymaking to investing04:30 The shift from a demand-driven to a supply-driven world07:29 Why the stock-bond relationship has changed12:09 The return of fiscal activism15:52 AI, scarcity and the growing demands on capital19:57 When will AI productivity begin to transform the economy?22:53 AI, inflation and the future of interest rates25:23 AI valuations, earnings and whether markets are in a bubble29:48 Building portfolios for the new macro regime33:35 Private markets, income and hedge fund diversification37:06 Why multi-strategy investing matters42:19 Leverage, factor exposure and lessons from the quant crisis46:08 Why the environment for hedge funds has improved48:39 Portable alpha and separating alpha from beta52:51 What comes after the traditional 60/40 portfolio56:47 How AI could transform investment management01:00:19 Mike Pyle's advice for the next generation of investorsCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

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 Sonia Balfour-Fears.

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 Sonia Balfour-Fears.