Podcasts about investing

On episode 476, Michael Batnick and Ben Carlson discuss: a crazy month in the stock market, Situational Awareness, leverage always gets you, the semiconductor crash, 60/40 will never die, the behavior gap lives, One Wish Willow for the economy, a theory about the Fed, the economy is still booming, apathy for Bitcoin, the biggest movie weekend ever and much more. This episode is sponsored by YCharts. To get your copy of Top 10 Visuals, and receive 20% off your first YCharts Professional subscription through Animal Spirits. Visit https://go.ycharts.com/animal-spirits (Offer valid for new customers only.) Sign up for The Compound newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow Us On Social Media: Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Find complete show notes on our blogs: Ben Carlson's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠A Wealth of Common Sense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Michael Batnick's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Irrelevant Investor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Feel free to shoot us an email at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠animalspirits@thecompoundnews.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

There's a strange thing that happens to a lot of people as their income grows: the anxiety doesn't go away, it just changes shape. More money, more accounts, more to track, and somehow the same low hum of worry every time a bill comes due. Jesse Mecham, founder of YNAB and one of the most trusted voices in budgeting, has spent over two decades helping people fix that, and his conclusion isn't a better spreadsheet or a stricter budget. It's a single question, one that sounds almost too simple to matter, until you actually try to answer it.What You'll Walk Away WithThe one question that replaces budgeting guilt with genuine clarity, and why it works even for people who "already have money figured out"Why looking backward at your spending almost never makes you feel better, and what to do insteadThe five categories every dollar actually falls into, and why skipping even one of them creates financial blind spotsWhy future income should never be allowed to rescue your current plan, and how that habit quietly leads to credit card debtA surprisingly simple system for making irregular bills stop feeling like emergenciesThe real story of a Costco cashier who became a millionaire without doing anything complicated, and what it says about the myth of needing to "get fancy" with moneyWhy money worry doesn't disappear once you have more of it, and what actually makes it go awayWhy This Matters NowIt's easy to assume that financial peace is just one income bump away. Get the raise, pay off the card, hit the next savings milestone, and the anxiety will finally quiet down. But that's rarely how it actually works. Real financial confidence comes from knowing exactly what your money is for, not from having more of it. That clarity is available at any income level, and it's the difference between managing money and constantly feeling managed by it.From the BasementA story about a seventh-grade inline skating competition, complete with donated gear, mystery sponsors, and an unauthorized parking lot, turns out to be the unexpected origin story behind one of personal finance's most beloved communities. Some of the best lessons about building something people care about show up in the most unlikely places.Resources MentionedNever Worry About Money Again by Jesse Mecham — Jesse's new book on purpose-based spendingYNAB (You Need A Budget) — Jesse's budgeting app and free trialSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From short-term interest rates to long-term bond yields, the Fed's credibility is being tested. Global Head of Fixed Income Research Andrew Sheets discussed inflation, Federal Reserve Chair Kevin Warsh's outlook, and the options ahead.Read more insights from Morgan Stanley.----- Transcript -----Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley. Today: Can the Fed hold the line? It's Wednesday, August 5th at 2pm in London. The Federal Reserve has a difficult job. The U.S. economy is a complex and varied ecosystem that covers everything from brain surgery to your burger order. The Fed is asked to keep prices stable and people employed using, for the most part, just one simple tool. A short-term interest rate, and without any control over what government policy or global events might bring. Currently, the Fed probably feels pretty good about its success with one half of this – in the job market, given that the unemployment rate is near historical lows. But it probably feels less successful about price stability. Over the last five years, overall prices in the U.S. economy have risen over 20 percent based on the Fed's preferred inflation measure. That's roughly double the increase that a goal of 2 percent annual inflation would otherwise bring. Into this complexity steps a new Fed chair, Kevin Warsh. He has emphasized two changes for his tenure. First, that inflation is too high and needs to come down. And second, that the Fed has historically communicated too much with the market, which Chair Warshkeep thinks has helped contribute to investors potentially taking too much risk while also restricting the Fed's options to act. What markets are now processing is a potential tension between these two goals. After all, high inflation is an immediate issue. In a world where the Fed is hoping to keep price increases at about 2 percent per year, their preferred measure, PCE inflation, is rising more than 3 percent on an annualized basis over the last three, six, and 12 months. In the latest ISM Manufacturing Survey, [the] measure of price increases among manufacturers is well above normal. In the face of that, one option for the Fed to combat this inflation would have been to raise interest rates. It didn't do that. Another would be to suggest that it was very close to taking action and likely to move soon. It didn't do that either. Indeed, our economists think that the market took Chair Warsh's lack of guidance and action at the most recent Fed's meeting to suggest a pretty high bar for rate hikes; and even the potential to redefine the Fed's 2 percent inflation target in favor of something more general and unspecified. The result was a market reaction that would suggest less focus on inflation. The prospects for rate hikes were reduced, the yield curve steepened, led by a sell-off of long-end yields, measures of expected inflation rose, and the U.S. dollar weakened. In the days since, markets have settled a bit. But the result is going to be a market that is now going to be much more sensitive to incoming inflation data. If that inflation data moderates in the second half of this year, as we at Morgan Stanley expect, then the Fed's approach could look justified – as the data suggests that neither action nor more communication about what they're going to do is necessary. But if inflation doesn't cooperate, the challenge becomes immediate. Christopher Waller, another member of the Fed, recently said that "Sternly staring at inflation until it melts before our withering gaze is not an option." The market will expect action and expect a framework explaining that action. Until that point, our rate strategists think that yield curves will continue to steepen. Thank you, as always, for your time. If you find Thoughts on the Market useful, let us know by leaving a review wherever you listen, and also tell a friend or colleague about us today.

Discover what the latest hiring report means. The latest employment reports are offering fresh clues about the direction of the U.S. economy, but the headlines don't tell the whole story. In this episode, we'll look beyond the surface to uncover what the labor market may be signaling for investors, the Federal Reserve, and the months ahead. Understanding these trends can help you make more informed investment decisions in an ever-changing economic environment. Are you on track for financial freedom...or not? Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest can make the biggest difference to your financial freedom and lifestyle. If you invested well for the long-term, what a difference it would make because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars. Your compounding rate, and how well you invest, matters!  INVESTING IS WHAT THE BE WEALTHY & SMART VIP EXPERIENCE IS ALL ABOUT - Invest in digital assets and stock ETFs for potential high compounding rates - Receive an Asset Allocation model with ticker symbols and what % to invest -Monthly LIVE investment webinars with Linda 10 months per year, with Q & A -Private VIP Facebook group with daily community interaction -Weekly investment commentary -Extra educational wealth classes available -Pay once, have lifetime access! NO recurring membership fees. -US and foreign investors are welcome -No minimum $ amount to invest -Tech Team available for digital assets (for hire per hour) For a limited time, enjoy a 50% savings on my private investing group, the Be Wealthy & Smart VIP Experience. Pay once and enjoy lifetime access without any additional recurring fees. Pay once and you're done! Invest with our successful community for years to come. Enter "SAVE50" to save 50% here: http://tinyurl.com/InvestingVIP Or set up a complimentary conversation to answer your questions about the Be Wealthy & Smart VIP Experience. Request an appointment to talk with Linda here: https://tinyurl.com/TalkWithLinda (yes, you talk to Linda!). SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes Click Here to Subscribe Via Stitcher on an Android Device Click Here to Subscribe Via RSS Feed LINDA'S WEALTH BOOKS 1. Get my book, "3 Steps to Quantum Wealth: The Wealth Heiress' Guide to Financial Freedom by Investing in Cryptocurrencies". 2. Get my book, "You're Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!" Men love it too! After all, you are Wealth Heirs. :) International buyers (if you live outside of the US) get my book here. WANT MORE FROM LINDA? Check out her programs. Join her on Instagram. WEALTH LIBRARY OF PODCASTS Listen to the full wealth library of podcasts from the beginning.  SPECIAL DEALS #Ad Apply for a Gemini credit card and get FREE XRP back (or any crypto you choose) when you use the card. Charge $3000 in first 90 days and earn $200 in crypto rewards when you use this link to apply and are approved: https://tinyurl.com/geminixrp This is a credit card, NOT a debit card. There are great rewards. Set your choice to EARN FREE XRP! #Ad Protect yourself online with a Virtual Private Network (VPN). Get 3 MONTHS FREE when you sign up for a NORD VPN plan here.  #Ad To safely and securely store crypto, I recommend using a Tangem wallet. Get a 10% discount when you purchase here. #Ad If you are looking to simplify your crypto tax reporting, use Koinly. It is highly recommended and so easy for tax reporting. You can save $20, click here. Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom.  (This post contains affiliate links. If you click on a link and make a purchase, I may receive a commission. There is no additional cost to you.)  

August is encore month on the Retirement Answer Man podcast, giving Roger an opportunity to step back, reflect, and revisit some of the show's most impactful conversations. This week, he replays his discussion with Tanya Nichols on retiring single—a topic that remains just as relevant today. Together, they explore the unique planning considerations for single retirees, including building a trusted support network, preparing for future care, creating a personal board of directors, balancing flexibility with financial security, and thinking intentionally about legacy. Roger closes the episode by sharing why he's spending August slowing down, revisiting favorite books, and using writing to gain greater clarity and conviction.OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN(00:00) Roger explains why August will feature encore episodes, shares his desire to slow down and reflect, and introduces this week's replay with Tanya Nichols on retiring single.RETIREMENT TOOLKIT FEATURING TANYA NICHOLS(02:18) Roger and Tanya discuss the unique planning considerations for single retirees, including future care planning, building a trusted support network, creating a personal board of directors, managing a household alone, balancing flexibility with financial security, and rethinking legacy.CLOSING THOUGHTs(22:47) Roger reflects on why he's spending August revisiting favorite books and encourages listeners to embrace writing and reflection as tools for reconnecting with their own convictions.REFERENCESRetire AgileThe Gospel of Wealth by Andrew Carnegie Mark Troutman's Money Mind Podcast Submit a Question for RogerSign up for The NoodleNote: The opinions expressed are for informational purposes only and should not replace personalized advice from licensed professionals.

Paul Chai joins Alan Dunne to discuss what it takes to manage a perpetual investment portfolio designed to support future generations. As CIO of the Kansas State University Foundation, Paul explains how disciplined asset allocation, thoughtful manager selection and strong governance create resilient long-term results. The conversation explores endowment investing, private markets, hedge funds, portfolio construction and the importance of building a decision-making culture where diverse perspectives are encouraged. It is a wide-ranging discussion about investing with humility, managing uncertainty and creating an investment process that can endure through changing market environments.-----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 Paul on LinkedIn.Episode TimeStamps: 00:00 - Why better investment decisions start with diverse thinking01:02 - Paul Chai's journey from engineering to institutional investing04:50 - Managing a perpetual endowment for future generations08:48 - Building resilient strategic asset allocations11:54 - The advantages of managing a $1.2 billion endowment15:29 - Portfolio construction beyond the traditional 60/40 model20:57 - Strategic asset allocation versus total portfolio investing24:05 - Lessons from the Yale Endowment model26:26 - Finding unconventional investment opportunities31:21 - Building a diversifying hedge fund portfolio38:02 - Why CTA strategies no longer fit the portfolio43:01 - Manager selection, due diligence and finding alpha45:39 - The importance of grit when selecting investment managers51:25 - Building better investment teams and decision-making cultures57:20 - Advice for the next generation of long-term 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

This one flips the usual format. Instead of hosting, I was the guest on the Beyond The Trees podcast with Alex Murphy, from the team at Cedarwood Financial Partners.We talked about something a lot of advisors feel but rarely say out loud. You can hit the numbers, look successful from the outside, and still feel disconnected from the work and the life you thought you were building.I share the moment that forced me to rethink what success actually meant and why there is an important difference between building success and building significance.We also look at what your calendar reveals about your real priorities, why many advisors underestimate the value of their own time, and how holding onto the wrong work can quietly limit both the business and the life you are trying to create.This conversation is about the hidden cost of success and the choices that determine whether your firm ultimately supports your life or slowly takes it over.3 Insights From This Week's Episode…#1.) Successful on Paper, Trapped in PracticeA lot of founders leave one situation to build something better, then look up a few years later feeling boxed in by the thing they created. We get into why this happens and how easy it is to miss until it is well underway.#2.) The Conversation Finance Doesn't Want to HaveBurnout, loneliness at the top, needing outside help. These show up constantly behind closed doors and almost never on stage. We talk about why the industry stays quiet about it and what that silence costs.#3.) What an Hour of Your Time Is Actually WorthMost advisors have never put a real number on their own time, so they spend hours on work they would never pay someone else to do. We explore why that math changes how you think about hiring, delegation, and growth.SHOW NOTEShttps://bradleyjohnson.com/180FOLLOW BRAD JOHNSON ON SOCIALXInstagramLinkedInFOLLOW DBDL ON SOCIAL:YouTubeTwitterInstagramLinkedInFacebookDISCLOSURE DBDL podcast episode conversations are intended to provide financial advisors with ideas, strategies, concepts and tools that could be incorporated into their business and their life. No statements made in the episode are offered as, and shall not constitute financial, investment, tax or legal advice. Financial professionals are responsible for ensuring implementation of anything discussed related to business is done so in accordance with any and all regulatory, compliance responsibilities and obligations. The Triad member statements reflect their own experience which may not be representative of all Triad Member experiences, and their appearances were not paid for. Triad Wealth Partners, LLC is an SEC Registered Investment Adviser. Please visit Triadwealthpartners.com for more information. Triad Wealth Partners, LLC and Triad Partners, LLC are affiliated companies. TP08265629238See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Aug 4, 2026 – Stocks surged to record highs Tuesday as the S&P 500 and Dow rallied on blowout cloud earnings from Amazon and Microsoft. But CIO Peter Boockvar warns the AI-fueled melt-up may be a "bear trap." He breaks down the historic data center...

On episode 234 of Ask The Compound, Ben Carlson, Duncan Hill, and Jack Raines tackle your investing and financial planning questions, including the financial advice they'd give their younger selves, whether buying a home still makes sense in today's market, how young people should prepare for an AI-driven future, the risks of investing with margin, and whether it's possible to retire early by living an ultra-frugal lifestyle. They discuss: - The financial lessons they'd share with their younger selves - Renting vs. buying in a high-cost housing market - How students and young professionals should navigate the AI revolution - Why leverage and margin investing can be more dangerous than they appear - Whether living off the grid and letting investments compound is a viable path to financial independence Compound Merch: ⁠⁠⁠https://idontshop.com/⁠⁠⁠ Submit your Ask The Compound questions to ⁠⁠⁠askthecompoundshow@gmail.com⁠⁠⁠! Subscribe to The Compound Newsletter for all the latest Compound content, live event announcements, find out who the next TCAF guest is, get updates on the latest merch drops, and more! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

"Higher for longer" bond yields appear to be heading even higher and even longer than Wall Street expected.This is the greatest threat to asset prices right now, claims Stephanie Pomboy.Stephanie returns to offer her latest monthly macro and markets outlook.To hear it all, watch this video.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com#bondyields #marketcorrection #commodities _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video.Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/disclosureThoughtful Money Agreement: https://thoughtfulmoney.com/agreementIMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.

Crypto News: Hopes of the Clarity Act cloture vote in the Senate falls with no ethics agreement from WhiteHouse and Democrats backing out. BNY to add crypto staking to digital asset custody platform. BlackRock expands tokenized cash with new blockchain-based money market offerings. Ripple invests in transfer agency firm ZILO and tokenization platform Licuido, adding regulated issuance and collateral infrastructure to the XRP Ledger.

Ari Redbord, Global Head of Policy at TRM Labs, joined us to discuss how the firm's blockchain intelligence solutions help financial institutions, crypto businesses, and government agencies detect and investigate crypto-related financial crime and fraud. Recorded on July 13th.Topics:- TRM Labs blockchain intelligence- Tracking and preventing Crypto fraud - AI and Crypto scams - Misconceptions about crypto investigations

War, inflation, and AI are converging to create a high risk moment in the market. But in this bull market, many are seeing high returns. On this episode, Shannon Saccocia, Chief Investment Officer for Neuberger Berman, sits down with SoFi's Chief Market Strategist Liz Thomas to discuss where the big risks are, how they're shifting, and what investors can look out for to manage their exposure.  They discuss how America and China's different approaches to AI build-out will shape the market going forward, the search for the next Mag 7, and how investors should think about investing in this maturing market. This episode is for informational purposes only and should not be considered investment advice. Subscribe to The Important Part for smarter conversations about markets, investing and the forces shaping your financial future. For more, read Liz's column every Thursday at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠On The Money⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ by SoFi⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, and follow Liz on Twitter ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@LizThomasStrat⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Additional resources: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠On The Money⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: Sign up for SoFi's newsletter for intel, insights, and inspo to help you get your money right. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Investing 101 Center⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: At SoFi, we believe investing is for everyone — which is why we've created a hub with info for beginners and experts alike. Start exploring to get investment education, advice, resources, and more. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Wealth Investing Guide⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: Information you need to know to make your money work harder for you. This podcast should be used for informational purposes only and not deemed as a recommendation. Our Automated investing is via SoFi Wealth LLC, and is a registered investment advisor. Our Active investing is via SoFi securities LLC, member FINRA/SIPC. For additional disclosures related to the SoFi Invest® platforms, please visit www.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SoFi.com/Legal⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. ©2026 Social Finance, Inc. All Rights Reserved.

It's Q&A Wednesday, and we're answering your live chat questions on today's biggest investing, market, and economic topics. With the S&P 500 near record highs after weeks of consolidation, investors are asking what comes next. Is this breakout sustainable, or are markets setting up for another bout of volatility? Lance Roberts & Danny Ratliff discuss market leadership, interest rates, inflation, AI, bonds, portfolio positioning, retirement planning, and whatever else is on your mind. 0:00 INTRO 1:01 - AMD, Eli Lilly Earnings & Markets' New High 2:49 - Strait of Hormuz/Iran & Headlines 4:24 - Economic Data Weakens - JOLTS report 5:11 - The Thing About Consolidations & Breakouts 7:54 - Interest rates about to trigger bond buy signal 10:00 - Coffee & Keeping Lance Around 10:51 - Market Behavior & Investment Sentiment 12:19 - Core CPI vs Fed Funds Rate: Is the Fed wrong or the bond market wrong? 15:47 - Using Stablecoin to purchase international stocks 18:05 - Options strategies on parabolic moves 19:00 - US Debt Clock composition & Gold Purchases 23:16 - Will Yield Curve Control be eventually implemented? 24:50 - Is this a good week to rebalance? 27:18 - Investing in broad-market ETF's via SEP IRA 31:27 - Preferred Bonds vs Corp Bonds, & 60/40 Allocations 34:15 - Why you need inflation (why we invest) 39:28 - Understanding what you're buying (bonds) 42:17 - Emerging Market equities concentrated in PVR, VALE? 42:45 - Off balance Sheet AI Debt 43:14 - US purchase of Yen - a form of yield curve control? 46:49 - Traditional Pension + SS = ratio for equities? 48:25 - Two Types of Debt Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Danny Ratliff, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/HeU8LWC2rfo?feature=share ------- Articles mentioned in this report: "Bonds In Your Portfolio: Why Ditching Them Is The Wrong Move" https://realinvestmentadvice.com/resources/blog/bonds-in-your-portfolio-why-ditching-them-is-the-wrong-move/ "AI Bear Case: What Skeptics Get Right And Wrong" https://realinvestmentadvice.com/resources/blog/ai-bear-case-what-skeptics-get-right-and-wrong/ "The Momentum Crash: Is It Over?" https://realinvestmentadvice.com/resources/blog/the-momentum-crash-is-it-over/ -------- Watch today's "Before the Bell" premarket commentary, "New Highs, Now What?" https://youtu.be/K0SaWvIeYkQ ------- Watch our previous show, "The 60/40 Portfolio Is Not Dead" https://youtube.com/live/9KGokK9tGuA ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series, "Savvy Social Security Planning: More Income, Less Worry," Thursday, August 6, 2026: https://streamyard.com/watch/tQ3PS8hd64mt --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #SP500 #Investing #Bonds #MarketOutlook FinancialPlanning #MarketOutlook

Building wealth isn't about owning more properties; it's about putting your money to work with intention. In this episode, Dani Lynn Robison shares her journey from cruise ship musician to real estate entrepreneur, explaining how she evolved from turnkey rentals to managing diversified, needs-based investment funds. She breaks down why passive investing, strategic partnerships, and aligning every investment with a clear purpose can create greater financial freedom. Tune in to learn how intentional investing can help you build wealth with confidence and peace of mind.   Key Takeaways To Listen For The surprising difference between owning rentals and creating passive income Why needs-based real estate continues attracting capital across market cycles A mindset shift from being an operator to becoming a capital allocator How every investment dollar should have a specific purpose Best-in-class operators: how they can outperform doing everything yourself   Resources/Links Mentioned In This Episode Chat With Freedom - Freedom Family Investments – Education-First Real Estate Investing Calm Money Never Panics by Dani Lynn Robison | Kindle, Paperback and Hardcover Who Not How by Dan Sullivan with Dr. Benjamin Hardy | Paperback and Hardcover   About Dani Lynn Robison Dani Lynn Robison is the Co-Founder, Owner, Chief Investment Officer, and CEO of Freedom Capital Investments, a private equity real estate firm specializing in multifamily acquisitions, asset management, and investor relations. With a background in finance, capital raising, and strategic leadership, Dani has helped grow the firm by combining disciplined investment strategies with a strong focus on building lasting relationships with investors. Passionate about financial education and wealth creation, she is dedicated to helping individuals achieve long-term financial freedom through passive real estate investing while leading a values-driven organization committed to transparency, integrity, and sustainable growth.   Connect with Dani Lynn Website: Freedom Family Investment  LinkedIn: Danielle (Dani Lynn) Robison  Instagram: @danilynnrobison    Connect With Us If you're looking to invest your hard-earned money into cash-flowing, value-add assets, reach out to us at https://slipstreamaii.com/.    Follow Keith's social media pages LinkedIn: Keith Borie Investor Club: Secret Passive Cashflow Investors Club Facebook: Keith Borie X: @BoboLlc80554

In this episode, Aaron Lambert shares his journey from solitude and reading Rich Dad Poor Dad to building RKL Investments, focusing on new construction, assisted living, and memory care. Discover how resilience, relationships, and strategic pivots drive success in real estate. In this episode, we explore how a real estate entrepreneur leverages strategic planning, marketing, and team management to grow a diversified property portfolio across multiple markets. Discover actionable insights on scaling, automation, and building a resilient business in real estate.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Steve Young won three Super Bowls. Then he built one of private equity's most distinctive firms on a completely different philosophy: partnership over transaction. In this episode of The Holy Grail of Investing, Tony Robbins and Christopher Zook sit down with Steve Young, Pro Football Hall of Famer and Co-Founder of HGGC, for a conversation on championship leadership, partnership investing, and the philosophy that connects winning on the field to winning in business. They discuss: What partnership investing is and why it outperforms traditional private equity How the greatest NFL coaches and the best investors think exactly alike Bill Walsh's leadership lessons and what "The Score Takes Care of Itself" means for business Why Steve Young believes selfless leadership is the most underrated edge in any industry How to build a lasting dynasty in business, not just in sports   CHAPTERS: 00:00:00 Introduction 00:06:30 Steve Young: NFL Hall of Famer and private equity co-founder 00:09:30 His father's lesson: "You can quit, but you can't come home" 00:25:30 Bill Walsh and the mentors who see your potential 00:32:53 What makes a great leader: the "emotional athlete" 00:36:20 HGGC's partnership investing philosophy 00:52:00 Coaching the next generation and building a culture beyond transaction 01:03:40 Dream and plan: the framework for life and investing You can watch this episode live on YouTube @TonyRobbinsLive and ‎⁨@CAZInvestments⁩ Learn more at https://TheHolyGrailofInvesting.com and https://CAZInvestments.com

On this episode of What Are Your Thoughts, Join ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ as they break down another massive week for the markets, including SpaceX's first public earnings report, Palantir's blockbuster quarter, and what strong Q2 earnings say about corporate America. They also discuss the recent semiconductor selloff, the rise and fall of hedge fund manager Leopold Aschenbrenner, Robinhood, the risks of leveraged investing, and Michael's bull case for Floor & Decor. Topics include: - SpaceX's first earnings report - Palantir's explosive earnings - Q2 corporate profits - The semiconductor selloff - Leopold Aschenbrenner's hedge fund collapse - Robinhood - Leveraged investing - Michael's bull case for Floor & Decor - Josh's mystery chart This episode sponsored by Janus Henderson Investors. Visit https://www.janushenderson.com/ for more information. Sign up for ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Compound Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and never miss out! Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Head of US Public Policy Strategy Ariana Salvatore and US Thematic Strategist Michelle Weaver, alongside Senior Economist and Strategist in Morgan Stanley's Private Wealth Management Sarah Wolfe, examine the economics of the AI datacentre boom, the pushback and the policy implications.Read more insights from Morgan Stanley.----- Transcript -----Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Head of Public Policy Research at Morgan Stanley. Michelle Weaver: I'm Michelle Weaver, U.S. Thematic and Equity Strategist. Sarah Wolfe: And I'm Sarah Wolfe, Senior Economist and Strategist with Morgan Stanley Wealth Management. Ariana Salvatore: Today: the politics, economics, and market implications of America's AI data center build-out. It's Tuesday, August 4th at 10am in New York. AI infrastructure spending is becoming a major force in the U.S. investment cycle. But as you've heard on this podcast in recent weeks, local resistance to data centers is growing, and projects worth hundreds of billions of dollars are being canceled or delayed. More than 300 local moratoria have passed since 2023, and restrictions now touch 40 states. Now, most are temporary pauses, not outright bans, but the community opposition is tangible. For investors, the key question is how these local pressures shape the broader build-out. So, I wanted to talk to you both because, Sarah, you've looked at this on the local level, and Michelle, you've been leading some of our thematic work on this topic. So, Sarah, maybe we'll start with what happens when a data center comes to town. How does a large project ripple through a local economy, especially when so much of the expensive hardware is imported? Sarah Wolfe: I think we need to look at the data center build-out from two lenses. First, at the national level, and then what's really happening at the local level, county by county. So, at the national level, the headline investment can actually overstate the contribution to GDP because a lot of the components that go into data centers – think chips, servers, networking equipment – most of that is imported. So, it's actually an offset in the GDP accounting.But when we analyze the AI build-out at a local level, we see that the town experiences the project very differently. A data center still needs a physical shell, concrete, steel, electricians, construction workers, and then the restaurants that feed the construction workers. So, the local multiplier depends on how much of that spending around the data center stays nearby. Workers are going to get paid, local suppliers win contracts, and nearby businesses will see more demand. And then importantly, governments may collect more property and business tax revenue. When we look at county-level research on the AI data center build-out, we do see positive effects on employment, business formation, wages, income, and tax returns. So, these data centers are significant. They do have significant multipliers. But we need to dig a little bit deeper and look at how it affects different counties. Ariana Salvatore: So, it sounds like there are some local economic benefits. How durable do you think those are? Sarah Wolfe: Some of the effects are durable and some aren't. The largest and most important effects come through employment in the near term. If we look at the construction phase of these projects, let's look at a data center that's 250,000 square foot, in Virginia. That supports more than 1,500 workers during construction. But then, if we look at what happens after construction is done, there's only about 50 full-time workers once it's operating. And I will say I think that's a high-end estimate. If you look at how many workers these data centers employ state by state, some numbers are 10, some numbers are 20, and some are 30 employees. So, 50 is maybe on the higher end. So, the bottom line is that the labor market multiplier actually fades after the facility comes online. What does persist, are the smaller share of data center processing jobs, ongoing supplier and service activity, and then importantly, of course, the property tax base. But even that fiscal benefit depends on how the incentive package is designed. If a locality, for example, grants a very large, long-lived sales or property tax exemption, it may give away much of the revenue that made the project attractive in the first place. So, the job story is real, but it's much more front-loaded. And then the tax revenue story is real too, but it really matters on how the locality negotiated the incentive package. Ariana Salvatore: So, it sounds like there are some benefits and some potential drawbacks. How do you think communities should judge whether a trade-off like that is worth it? Sarah Wolfe: I think communities should be asking this question of how much spending and tax revenue actually stays local after all the incentives? How many jobs remain after construction? Who pays for new generation transmission, water system, and roads? And who bears the spillovers through utility bills, housing costs, or land use? The evidence does suggest that data center growth can lift incomes and expand the tax base. But it also raises home prices. And as we know, it raises electricity prices as well. A typical AI data center may use as much electricity as 100,000 homes, so cost allocation is critical. The strongest agreements make benefits durable and costs explicit through transparent reporting, sunset dates or claw backs on incentives, infrastructure cost-sharing, and protections that keep the household from subsidizing this build-out. The test is really whether the community captures enough lasting value to justify the demands on land, power, water, housing, and public finances. Ariana Salvatore: Michelle, I want to bring you in here. The local picture that Sarah describes helped explain why the politics can be so uneven. How are moratoria and other local restrictions changing the pace and the location of the build-out, maybe on a national scale? Michelle Weaver: I think you have to think about just the different type of moratoria themselves even. So, we're not seeing them uniform across different states in what's been proposed.However, the majority of moratoria are a pause, not a[n] outright ban on construction. So, they might say, "Okay, we want one year," or "We want three years to do local impact studies and, and think about the way these data centers are going to impact communities." So, the primary risk is really to the pace of the build-out, and as more and more of these moratoria pop up, you have to start to think about how that could shift the geography and the location of where these data centers will ultimately be built. We are seeing a shift towards more data centers being placed in rural locations. This also has implications for the international data center build-out. You're seeing more and more of these data centers go up in Canada and in Australia to serve U.S. needs. Ariana Salvatore: The polling data show us that voters are increasingly skeptical of AI. Specifically, they're worried about electricity prices and local costs. How should investors read that concern? Michelle Weaver: Well, there's a couple things we have to unpack here. First is really around perception. So, in certain areas where you have both high data center activity as well as unregulated utility markets; yes, it's true, there is some of this raised cost ending up on consumer power bills from data center activity. But in other areas with unregulated utility markets and lower data center activity, you don't see the same link between consumer power bills and what's going on with data center electricity consumption. But perception is what really drives politics and given that this perception is becoming spread across different states with both regulated and unregulated utility markets, politicians are reacting to it. And the second thing this gets at is affordability. Consumers have been stressed by inflation for years now and elevated prices. And given that they think that data center costs are now winding up on their power bills, it's not surprising that you're seeing this big reaction, and that anything having to do with affordability has become a huge issue for voters. Ariana Salvatore: Translating that into how we think things evolve from here, what industry and financing trends do you think matter most going forward? Michelle Weaver: We recently identified the three main bottlenecks for the data center build-out as power, people, and politics. This whole episode has been about that third P, politics, but let's unpack power and people. On power, we still think there's a potential shortfall of around 38 gigawatts needed through 2028. So, power is going to remain a huge bottleneck, and as the politics layer gets placed on top of the power layer, you're seeing more and more of an issue there. And so, what that really argues for is for data centers to be off grid. That way they can say, "Okay, there's no way we can potentially impact consumer power bills if we're not even connected to the grid." The second P, people, is another big bottleneck, and we're seeing a very tough time for data centers to get skilled laborers. It's very hard to find electricians right now and other skilled laborers needed to set up these data centers. Ariana, that brings us to the policy debate. Why is data center opposition moving from town halls into state houses and Congress? And what does this mean for a conditional build-out? Ariana Salvatore: Yes, I think the points that you both touched on really explain why we're seeing this sort of pushback evolve, right?Local communities are concerned about their electricity prices. Again, we see that on more a regional than a national basis. They're concerned about quality-of-life concerns. They're concerned about the environmental impacts. And so, all of that has caused these efforts to sort of cross state lines. We see it in both Democrat-held state legislatures as well as Republican-held. So, it's definitely resonating with voters, and this is an issue that we think is going to be a key wedge issue into the midterm elections. It started to move into Congress rhetorically, but we still think something like a federal ban or a federal moratorium is very unlikely. And that's because we see a different incentive structure for lawmakers in Congress from the state and local level. Principally, I'm talking about the U.S.-China relationship. So, when you look at the geopolitical backdrop to this debate, there are certain things that you can't ignore. And one of those things is that the U.S. and China are locked in this race for AI supremacy at the moment. And I think federal lawmakers have more of an incentive to respond to those policy demands and those policy needs, meaning they want to keep facilitating the build-out.So that's why you're seeing the national level still relatively supportive of this build-out. We're seeing permitting reform. We're seeing Defense Production Act being leveraged by the president. We're seeing still an overall very favorable environment trying to unlock, sort of, that power bottleneck, for example. So that's kind of what brings us to this conditional build-out. Now, what does that mean? We think that the hyperscalers in these companies are going to have to offer some concession to local communities to facilitate the build-out. And that could be a number of things. I think it depends on the state's concern or the local community's concern principally, but we see a few different options. One of those things is behind-the-meter power generation. So on-site power is one of the clear kind of offsets to this debate. Another thing would be improving utilization rates. So, our sustainability analysts found that the capacity utilization rates are actually quite low at some of these data centers in the range of 30 to 40 percent. So maybe that can be increased. We've got some potential new regulations or transparency requirements around water usage. So, the short of it is, there's not going to be a one-size-fits-all solution here. But we think there's enough on the policy side that these companies can do or offer essentially to local communities. So that the entire build-out doesn't get delayed or doesn't get stopped. And, and that's kind of why we still expect elevated AI CapEx, not just this year, but next year as well. We think that the risks are skewed to the upside for those numbers.Sarah Wolfe: Ariana, I want to touch back to the comment you made on low odds of a nationwide ban on AI data center build-out – and tie it to this broader competition between the U.S. and China, with global supremacy in AI. Can you talk a little bit more about how competition with China is going to prevent a nationwide ban and some of the national security concerns around that? Ariana Salvatore: This ties into the theme of sovereign AI, which is something that we've been focused on recently, especially with all these discussions of more tech restrictions and controls between the U.S. and China. And specifically, it's one of the reasons that we think the geographical build-out will be constrained to either just the U.S. domestically or countries that we are closely aligned with. And really the point I want to make here is that there's three geopolitical realities that are going to form, we think, the incentive structure for federal lawmakers and that are slightly different from the things that state and local policymakers tend to focus on. The first is that we're seeing China leverage its supply chain position to pressure the physical inputs required for AI infrastructure, right? So, we're seeing that tit-for-tat escalation in the context of a broader strategic détente, but there's still a competitive aspect there. The second is that we know China's accelerating its own physical AI build-out. Reporting indicates they're spending something like $300 billion over five years on its own domestic network, so very much full steam ahead in terms of its own domestic potential. And the third is that research has identified China-linked influence operations that use an American frontier model to generate social media posts, comments, and political cartoons linking the data center construction to rising energy prices. So, there's still a little bit of uncertainty as to whether or not those campaigns actually influence public opinion at scale. But in our view, it really underscores the linkage between national security and geopolitics and the AI data center build-out. All these developments together we think underscore the physical component of the AI race and make something like a national data center ban or federal legislation toward those ends really difficult to reconcile with the growing bipartisan strategic imperative around AI, which is something that we think persists past the midterms as well. But at the end of the day, the pace of the AI build-out will depend not just on demand, but on how well projects address the concerns of the communities hosting them. That's why we think this conditional build-out is probably the right base case for now. Michelle and Sarah, thanks so much for taking the time to talk. Michelle Weaver: Great speaking with you both. Sarah Wolfe: Thank you, Ariana. Ariana Salvatore: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.*****Sarah Wolfe is a member of Morgan Stanley's Wealth Management Division and is not a member of Morgan Stanley's Research Department. Unless otherwise indicated, her views are her own and may differ from the views of the Morgan Stanley Research Department and from the views of others within Morgan Stanley.

What if the very thing that made you a great lawyer is the thing preventing you from building a great firm? On this special mashup episode of The Game Changing Attorney Podcast, Michael Mogill sits down with Justin Chopin of Chopin Law Firm, Alex Limontes of Hurst Limontes LLC, Lawrence LeBrocq of Garces, Grabler & LeBrocq, and Charlyn Ho of Rikka Law Group. Together, they share how they stopped trading time for dollars and built scalable, multimillion-dollar firms on their own terms. From ego checks and data-driven marketing to AI adoption and community-first branding, these law firm owners reveal the mindset shifts and systems that set them apart. Here's what you'll learn: Why removing yourself from day-to-day operations is the fastest path to firm growth How data-driven marketing and strategic community activation outperform gut-feeling ad spend What proactive AI adoption looks like (and why firms that ignore it risk extinction) (00:00:00) Introduction (00:02:44) Justin Chopin: Betting on Yourself and Building a Firm from Scratch (00:09:38) Growing Through Leadership, Hiring, and Team Culture (00:18:45) Leading Through Crisis and Investing in Your People (00:29:42) Alex Lamontes: Building a Mission-Driven Brand (00:42:10) Scaling with Data, Partnerships, and Community Impact (00:56:31) Lawrence LeBrock: From Trial Lawyer to CEO (01:07:35) Creating a High-Performance Culture Through Accountability (01:13:26) Embracing AI and Leading Organizational Change (01:20:36) Charlyn Ho: Building an AI-First Law Firm (01:35:26) The Future of Legal Innovation and Entrepreneurship (01:45:44) Final Thoughts and Takeaways ---- Links & Resources: Justin Chopin, Chopin Law Firm Alex Limontes, Hurst Limontes LLC Lawrence LeBrocq, Garces, Grabler & LeBrocq Charlyn Ho, Rikka Law Group ---- Learn what sustainable growth can look like for your firm at crispcoach.com. ---- Do you love this podcast and want to see more game changing content? Subscribe to our YouTube channel. ---- Past guests on The Game Changing Attorney Podcast include David Goggins, John Morgan, Alex Hormozi, Randi McGinn, Kim Scott, Chris Voss, Kevin O'Leary, Laura Wasser, John Maxwell, Mark Lanier, Robert Greene, and many more. ---- If you enjoyed this episode, you may also like: 477. Mike Brown - The Nitty Gritty of AI 431. Rory Baden - Branding Secrets Your Firm Needs to Scale 451. Firm of the Year Winners - Growth Secrets From the Best of the Best

This big bank CEO has Cramer confident the company is ‘firing on all cylinders'. Become an Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks every day as they talk candidly about the market's biggest headlines, analyst calls and holdings in the Charitable Trust – and see up close how they decide when, and if, to take action on stocks. Sign up here:  cnbc.com/morningtake   CNBC Investing Club Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July ended up being a painful month.It was the Nasdaq's worst July in 22 yearsBonds experienced their biggest July yield-spike since 2005And oil's saw its biggest July price increase in over 30 yearsWhat's driving all this?Is this just a mid-year pressure-release before prices resume climbing? Or are these signs that momentum is rolling over?Most importantly: what does all this mean for investors?What positioning makes sense in this environment?For answers, we're fortunate to welcome back money manager Michael Pento, founder & CEO of Pento Portflio strategies.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com#bonds #marketcrash #deflation _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video.Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/disclosureThoughtful Money Agreement: https://thoughtfulmoney.com/agreementIMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2026 Thoughtful Money LLC. All rights reserved.

Jeff Axley of Ridgeline Capital Partners joins Chris to break down medical office buildings, one of the healthcare real estate niches more LPs are starting to pay attention to. Jeff walks through how his background across office, multifamily, development, restructuring, industrial, and master-planned communities ultimately led him to focus on medical office as a more durable, recession-resilient asset class. Chris and Jeff start with the basics: what medical office buildings are, how they differ from hospitals, senior housing, skilled nursing, assisted living, and other parts of the healthcare real estate landscape, and why outpatient care has become such an important long-term trend. Jeff explains why medical office can behave like traditional office in some ways, but with important differences: longer leases, triple-net structures, higher tenant improvement costs, more specialized build-outs, and stickier tenants who are much harder to move once they have expensive medical infrastructure in place. They also dig into the current market opportunity. While traditional office and multifamily have faced major headwinds, medical office occupancy and rents remain strong, with supply typically built to match tenant demand rather than speculative growth. Jeff explains why buying existing medical office at a meaningful discount to replacement cost can create a protected basis, how rising construction costs support the value of existing buildings, and what LPs should look for when evaluating MOB underwriting. Key takeaways: What medical office buildings are and how they fit into the broader healthcare real estate landscape Why outpatient care, aging demographics, technology, and reimbursement pressure support long-term MOB demand How medical office differs from traditional office through lease structure, tenant improvements, plumbing, foot traffic, and tenant stickiness Why MOB supply is typically more controlled than multifamily or traditional office supply How triple-net leases help owners pass through operating expenses, while still requiring competitive cost management Why replacement cost matters and how buying existing buildings below new construction cost can create downside protection What LPs should watch in MOB deals, including going-in cap rate, cost of financing, positive leverage, stabilized yield on cost, and exit cap assumptions Join a community of passive investors. Start your FREE 7-day trial: https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none Listen to the PassivePockets Podcast Anywhere: https://lnk.to/passivepockets Subscribe to the Passive Investing Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Join BiggerPockets for free: https://www.biggerpockets.com/signup?utm_source=owned_media Disclaimer The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

Is the classic 60/40 portfolio really obsolete, or are investors making a costly mistake by abandoning bonds? Lance Roberts & Jon Penn examine why fixed income still plays a critical role in portfolio construction, risk management, and long-term wealth preservation. We'll discuss why bonds remain valuable despite recent volatility, how they can improve diversification, and why chasing all-equity returns may expose investors to unnecessary risk. If you've been told that "bonds are dead," this conversation offers a different perspective backed by history and current market conditions. 0:00 INTRO 1:12 - Space-X First Report Preview 4:16 - Market Consolidation Continues 6:00 - Sometimes the Best Thing to Do is Nothing 8:57 - Space-X Options? 9:44 - 60/40 Portfolio is Dead? 13:41 - The Case Against Bonds 19:16 - Correlation Matters 24:09 Why Gold Does Not Belong in Bond Side of Portfolio 28:07 - Why We Own Certain Assets 31:02 - Understanding Beta 36:11 - Never Look at Bonds as a Hedge for Inflation 38:35 - Investing when it's "Safe" 39:36 - Inflation is not a Bad Thing 44:50 - Own Bonds, not ETF's Chief Investment Strategist, Lance Roberts, CIO, w Senior Investment Advisor, Jonathan Penn, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/9KGokK9tGuA ------- Articles mentioned in this report: "Bonds In Your Portfolio: Why Ditching Them Is The Wrong Move" https://realinvestmentadvice.com/resources/blog/bonds-in-your-portfolio-why-ditching-them-is-the-wrong-move/ "AI Bear Case: What Skeptics Get Right And Wrong" https://realinvestmentadvice.com/resources/blog/ai-bear-case-what-skeptics-get-right-and-wrong/ "The Momentum Crash: Is It Over?" https://realinvestmentadvice.com/resources/blog/the-momentum-crash-is-it-over/ -------- Watch today's "Before the Bell" premarket commentary, "Markets Defy the Breakdown" https://youtu.be/Op2rlRHPdaU ------- Watch our previous show, "The Momentum Crash: Is It Over?" https://youtube.com/live/XLZMmL1p-H0 ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series, "Savvy Social Security Planning: More Income, Less Worry," Thursday, August 6, 2026: https://streamyard.com/watch/tQ3PS8hd64mt --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #SP500 #Investing #TechnicalAnalysis #RiskManagement #Bonds #PortfolioManagement #RetirementPlanning #AssetAllocation

In this episode, Anthony Gallo shares his extensive experience in real estate, focusing on assisted living facilities, market insights in Florida, and strategies for successful investing and partnerships.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

U.S. soccer legend Brandi Chastain joins Nikki & Brie for a powerful, forward-looking conversation about the game she helped transform and the future she is now helping build. From the unforgettable moments that made history to the fight for greater opportunity, ownership, and investment in women's sports, Brandi shares why soccer still has the power to unite, inspire, and change lives. Now, as a co-founder of Bay FC, she is turning decades of experience into a bold new vision for the next generation. Press play for an inspiring conversation about grit, legacy, and what becomes possible when women stop waiting for a seat and start building the table. *This episode was taped in mid-July. Call Nikki & Brie at 833-GARCIA2 and leave a voicemail! Follow Nikki & Brie on Instagram, follow the show on Instagram and TikTok and send Nikki & Brie a message on Threads! Follow Bonita Bonita on Instagram Book a reservation at the Bonita Bonita Speakeasy To watch exclusive videos of this week's episode, follow The Nikki & Brie Show on YouTube, Facebook, and TikTok! You can also catch The Nikki & Brie Show on SiriusXM Stars 109! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Most people only think about taxes twice a year: while filing, and while dreading filing next time. That gap is exactly where expensive surprises are born. Today's episode is a genuine mid-year tax tune-up, the kind of checkup that takes maybe twenty minutes and can quietly save you from an ugly bill, an unexpected penalty, or a refund that wasn't actually a win. No jargon-heavy lecture, just a clear walkthrough of what to check right now while there's still time to fix it.What You'll Walk Away WithWhy a big tax refund last year tells you almost nothing about whether you're on track this yearThe four numbers you actually need to know to build your own mini tax forecast in one sittingHow the IRS "safe harbor" rule works, and the two different percentage thresholds that keep you penalty-freeA common myth about side hustle income that trips up more people than you'd expectWhy switching to a Roth 401k without a plan can quietly blow a hole in your monthly cash flowThe real math behind donor-advised funds, and why writing a check to charity may be leaving money on the tableA simple gut-check for figuring out whether you need a professional or can handle a financial fix yourselfWhy This Matters NowIn your 40s, your financial life usually gets more complicated before it gets simpler: a raise here, a side hustle there, maybe two incomes in the household, maybe a bonus that shows up at an inconvenient time. Each of those changes quietly shifts what you owe, and waiting until April to notice means you've lost your best chance to do anything about it. A twenty-minute check now isn't about becoming a tax expert. It's about making sure next spring is boring instead of stressful, which, when it comes to taxes, is exactly the goal.From the BasementA home AC disaster turns into an unexpectedly useful lesson about getting a second opinion before writing a big check, whether it's for a repair, a service, or apparently, a $3,000 HVAC estimate that turned out to be a $300 fix. Consider it a bonus lesson in trusting your gut when something doesn't add up.Resources MentionedStacking Benjamins Tax Guide — free guide for organizing your mid-year tax reviewStacko Financial Action Month board — the interactive game with a money move for each dayField Kit Finance — track net worth, spending, and subscriptions in one placeDaffy — donor-advised fund platform referenced for charitable giving strategyIRS Estimated Tax Payments — where to make an estimated payment directlySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why investors should favor quality as the market moves from early-cycle momentum to more disciplined, mid-cycle leadership.Read more insights from Morgan Stanley.----- Transcript -----Mike Wilson: Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist.Today on the podcast I'll be discussing the ongoing transition in the economic recovery from early to mid-cycle.It's Monday, August 3rd at 11:30 a.m. in New York. So, let's get after it.Following on from my podcasts the past few weeks, I want to reiterate our key call that the economy and the market are moving from early to mid-cycle. That may sound like strategist jargon, but it has very real implications for leadership, positioning, and how one should think about the next phase of this bull market.For much of the past year, the market was rewarding early-cycle characteristics and behavior. Lower-quality, higher beta stocks, and the most explosive earnings revision stories led the way. That made sense. We were coming out of a rolling recession, operating leverage was improving rapidly, and earnings revisions were accelerating off of depressed levels. But as the business cycle matures, the market typically becomes more discerning. It starts to ask a harder question: not just who can grow, but who can sustain that growth with stable earnings, strong margins, and free cash flow generation.In other words, quality starts to matter again.That's exactly where we are now. The rotation towards quality has begun, and I don't view that as a bearish development for the broader market even if it's bad for some of the former leaders. The S&P 500 is a very high-quality, large cap index. So, while the market may continue to consolidate in the near term, the quality rotation should ultimately support index resilience and help the S&P 500 work its way toward our 8000 year-end target.The big market event last week was the capitulation in the historic momentum unwind. Momentum sold off hard, and semiconductors were at the center of it. That shouldn't surprise anyone who has followed our work over the past several months. We've been using the Silver stock analog to think about semis, and remarkably, the semi index bottomed almost exactly where that analog suggested.That argues for a tradable bounce in semiconductors over the next few weeks. However, the more important point is that semis may struggle to reclaim leadership for the rest of the year. Semis are a classic early-cycle group, and this is increasingly becoming a mid-cycle, quality-led market. The Silver stock analog would support the same conclusion.The provocative way to say it is this: the AI cycle is not over, but the easy money in the most crowded AI beneficiaries may be. The AI investment cycle still has plenty of runway, but the market is no longer rewarding capex blindly. It's asking for evidence of return on invested capital, adoption, monetization, and operational discipline. Last week's performance gap between Microsoft and Meta was a perfect example. It wasn't random. It was about capex discipline. The market is rewarding more prudent spending, and that could translate into a real overhang for the capex beneficiaries, in line with my views for the past several months.That is why I still prefer hyperscalers over semis, with one important caveat: dispersion within the hyperscalers is rising. The group has already outperformed semis by 30% over the past four weeks, and I think it can continue over the next several months. Hyperscalers have resilient core businesses, exposure to the AI application layer, and an underappreciated ability to use AI to reduce operating expenses if needed. They're both enablers and adopters. But the market will no longer treat them all the same. The winners will be the companies that can show return on investment, communicate capex discipline, and preserve earnings quality.This is also why AI adoption is becoming so important. The next leg of the story is not just about who builds the infrastructure. It's about who can use it more effectively. Our work shows that companies where AI is material to the investment thesis and pricing power is neutral to strong, are already seeing margin expectations improve. Relative net margins for that group have expanded by 50 basis points in just three months, and they now sit nearly 400 basis points above the broader market. That's not hype. That's operating leverage with a new engine.The Fed is the other major piece of the puzzle. Chair Warsh stayed on hold last week, but he remains tight-lipped about his reaction function. Markets are still adjusting to a Fed that wants to rely less on forward guidance and more on unfiltered market signals. I think that's a healthy development over the longer term, but transitions are rarely smooth. The biggest risk to this consolidation turning into a correction is if the 10-year yields rise above 5%. Such a rise could weigh on equity multiples and force the Fed to either revert to its old ways of guiding the markets or provide more liquidity to calm rate markets.Bottom line, the bull market is not over, but it is changing. As we move from early to mid-cycle in this recovery, the equity market wants higher quality. Semis may bounce, but they are unlikely to be the leader again. Meanwhile, hyperscalers will likely continue to trade better, with the best ones exhibiting more capital discipline. More importantly, AI adoption is moving from promise to measurable margin benefit. This is what mid-cycle looks like: less forgiving, more discerning, but still constructive for investors who follow the rotation rather than fight it.Thanks for tuning in, I hope you found it informative and useful. Let us know what you think by leaving us a review. And if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out!

Discover why Amazon reached $3 trillion market capitalization after Amazon demonstrated that AI demand remains far stronger than expected and announced it will increase capital spending to $220 billion this year to expand computing capacity. The AI investment cycle is accelerating across the technology industry. Amazon's willingness to invest over $220 billion—and its assertion that demand still exceeds supply—suggests businesses worldwide are only in the early stages of AI adoption. For long-term investors, the biggest opportunities may extend beyond AI software to the companies building the infrastructure that powers the entire ecosystem. Disclosure: I am invested in Amazon. Are you on track for financial freedom...or not? Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest can make the biggest difference to your financial freedom and lifestyle. If you invested well for the long-term, what a difference it would make because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars. Your compounding rate, and how well you invest, matters!  INVESTING IS WHAT THE BE WEALTHY & SMART VIP EXPERIENCE IS ALL ABOUT - Invest in digital assets and stock ETFs for potential high compounding rates - Receive an Asset Allocation model with ticker symbols and what % to invest -Monthly LIVE investment webinars with Linda 10 months per year, with Q & A -Private VIP Facebook group with daily community interaction -Weekly investment commentary -Extra educational wealth classes available -Pay once, have lifetime access! NO recurring membership fees. -US and foreign investors are welcome -No minimum $ amount to invest -Tech Team available for digital assets (for hire per hour) For a limited time, enjoy a 50% savings on my private investing group, the Be Wealthy & Smart VIP Experience. Pay once and enjoy lifetime access without any additional recurring fees. Pay once and you're done! Invest with our successful community for years to come. Enter "SAVE50" to save 50% here: http://tinyurl.com/InvestingVIP Or set up a complimentary conversation to answer your questions about the Be Wealthy & Smart VIP Experience. Request an appointment to talk with Linda here: https://tinyurl.com/TalkWithLinda (yes, you talk to Linda!). SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes Click Here to Subscribe Via Stitcher on an Android Device Click Here to Subscribe Via RSS Feed LINDA'S WEALTH BOOKS 1. Get my book, "3 Steps to Quantum Wealth: The Wealth Heiress' Guide to Financial Freedom by Investing in Cryptocurrencies". 2. Get my book, "You're Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!" Men love it too! After all, you are Wealth Heirs. :) International buyers (if you live outside of the US) get my book here. WANT MORE FROM LINDA? Check out her programs. Join her on Instagram. WEALTH LIBRARY OF PODCASTS Listen to the full wealth library of podcasts from the beginning.  SPECIAL DEALS #Ad Apply for a Gemini credit card and get FREE XRP back (or any crypto you choose) when you use the card. Charge $3000 in first 90 days and earn $200 in crypto rewards when you use this link to apply and are approved: https://tinyurl.com/geminixrp This is a credit card, NOT a debit card. There are great rewards. Set your choice to EARN FREE XRP! #Ad Protect yourself online with a Virtual Private Network (VPN). Get 3 MONTHS FREE when you sign up for a NORD VPN plan here.  #Ad To safely and securely store crypto, I recommend using a Tangem wallet. Get a 10% discount when you purchase here. #Ad If you are looking to simplify your crypto tax reporting, use Koinly. It is highly recommended and so easy for tax reporting. You can save $20, click here. Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom.  (This post contains affiliate links. If you click on a link and make a purchase, I may receive a commission. There is no additional cost to you.)  

Lens #010 - $100 Trillion Is Changing Hands - Here's How to Catch It$80 to $105 trillion is about to move between generations. Most will watch it happen. A few will catch it.Episode SummaryIn this episode of The Lifestyle Investor Podcast, host Justin Donald breaks down the largest wealth transfer in history and how to position yourself for it.You'll learn why retiring boomers create unprecedented deal flow, how seller financing lets you acquire cash-flowing businesses with little or no money down, and why following millennial spending points straight to the next decade of opportunity.Question of the Day

Mark Peter Davis of Interplay joins Nick to discuss AI's Effect on the Demand Curve, Investing in Durable Barriers, Large Cap vs. Small Cap Seed Deals, and Building an Internal AI Machine. In this episode we cover: AI's Role in Interplay's Operations Investment Strategy and Early Signals Impact of AI on Software and Venture Capital Job Displacement and New Opportunities Barriers and Durability in Software Companies Challenges for Traditional Growth Companies AI Native Services and Market Segmentation Guest Links: Mark Peter Davis's LinkedIn Mark Peter Davis's X Interplay's LinkedIn Interplay's Website The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter

What does a millionaire actually look like? In this episode, Travis and producer Eric react to a viral clip from financial educator Tori Dunlap (Her First $100K) about why most people misunderstand wealth. Their conversation dives into the difference between appearing wealthy and actually building wealth, why so many people fall into lifestyle inflation, and the financial habits Travis has observed after interviewing more than a thousand successful entrepreneurs. On this episode we talk about: Why most millionaires don't drive luxury cars or live extravagant lifestyles. The hidden dangers of lifestyle inflation and buying things to impress other people. Why lenders, dealerships, and financial institutions encourage consumers to spend more than they should. How investing excess income instead of upgrading your lifestyle creates long-term financial freedom. The importance of maintaining financial flexibility so you can pursue new opportunities without being trapped by monthly expenses. Top 3 Takeaways Building wealth is more about keeping and investing your money than spending it to create the appearance of success. Just because you qualify for a loan or payment doesn't mean it's financially wise—buy well below your maximum budget whenever possible. Delaying lifestyle upgrades creates flexibility, reduces stress, and gives you the freedom to change careers, start businesses, or invest in future opportunities. Notable Quotes "The people who have the most money are the people who keep their money and use it for things that make them more money." "You have to take control of your finances." "Money only solves your money problems, but it's easier to solve the rest of your problems with money in the bank." Connect with Travis Chappell: LinkedIn: https://www.linkedin.com/in/travischappell/ Instagram: https://www.instagram.com/travischappell/ Other: https://travischappell.com A Word from Our Sponsors: - Visit DrinkAG1.com/TMM to get a free AG1 Travel Case with 7 free AG1Travel Packs in your Welcome Kit with your first AG1 subscription order while supplies last.  - Go to Leesa.com for 25% OFF select mattresses (through August 23, 2026) PLUS get an extra $50 off with promo code TMM, exclusive for my listeners  Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Barhydt, Founder/CEO Abra, joined me to discuss the current state of the crypto market and what needs to happen for the market before the next major bull run. Recorded July 10th.Topics: - Crypto bear market and when the bottom might be in - Tokenization and markets going 24/7 - Clarity Act outlook - AI 's impact on the economy and life- Future of Prediction markets

Crypto News: Senate may pass the Clarity Act this coming week as the August 7th deadline approaches but the House is gone so the bill cannot be signed into law till September 2026. XRP Ledger upgrade brings back features once pulled over critical bugs. SEC keeps Nasdaq bitcoin options on hold after granting CME review.

One agency office went from a 7% close rate to 23% in 2 weeks. Same team. Same leads. We are showing you exactly what changed, live. This is a one time webinar, no replay and no recording, so you have to show up. Thursday, August 6th at noon CST, capped at 100 seats.

Most of us do not wake up intending to serve money. Yet financial pressures, ambitions, and fears can quietly begin shaping our choices. Before long, money may influence where we find security, how we measure success, and what we believe will bring us peace. Jesus speaks directly to this danger in Luke 16:13: “You cannot serve God and money.” Money was never meant to be our master. But when it is placed in its proper role, it can become a useful tool for serving God, caring for our families, and blessing others. So, what does a biblical approach to money look like? Money Is a Gift to Receive With Gratitude The Bible speaks frequently about wealth, possessions, generosity, and stewardship. One of its clearest principles is that money is not the goal. It is a resource entrusted to us by God. Ecclesiastes 5:19 says: “Everyone also to whom God has given wealth and possessions and power to enjoy them…this is the gift of God.” God is not opposed to provision or the appropriate enjoyment of what He provides. His gifts should be received with gratitude rather than guilt. We see a picture of God's abundant provision when Jesus feeds the five thousand in Matthew 14. Christ not only meets the immediate needs of the crowd, but the disciples also collect twelve baskets of leftovers. The point is not indulgence or excess. It is that God is a generous provider who delights in caring for His people. Everything we possess ultimately comes from Him. Recognizing that truth allows us to enjoy His provision without believing we own it independently of Him. Money Reveals What We Trust Although money can be a gift, it also carries spiritual significance because it reveals the condition of our hearts. 1 Timothy 6:10 warns that “the love of money is a root of all kinds of evils.” Paul does not say that money itself is evil. The danger arises when we love money or look to it for something only God can provide. Money cannot give us lasting security, establish our identity, or bring genuine peace. When we expect it to do those things, a useful tool begins to take the place of our faithful Provider. Every financial decision can reveal something about our trust. Our spending may expose what we value. Our saving may show whether we are preparing wisely or attempting to control an uncertain future. Our generosity may reveal whether we believe God will continue to provide. The question is not simply, “What am I doing with my money?” It is also, “What is my money doing to my heart?” Money Is Meant to Serve God's Purposes Ephesians 4:28 gives us a broader vision for our work and resources. Paul instructs believers to work honestly “so that he may have something to share with anyone in need.” We do not earn merely to accumulate. God enables us to work so that we can provide for our responsibilities, prepare wisely for the future, and share with others. That perspective transforms the purpose of our financial lives. Work becomes more than survival or personal advancement. It becomes one way we participate in God's generosity. Saving becomes thoughtful preparation rather than an attempt to eliminate every uncertainty. Investing can become an act of stewardship when it supports future responsibilities and generosity. This purpose often expresses itself through ordinary decisions: choosing to give even when the budget feels limited, avoiding unnecessary debt, setting aside money for future needs, or creating enough margin to respond when someone needs help. Those individual choices may feel small, but over time they shape both our finances and our hearts. Money becomes especially useful when it flows outward in service rather than being gathered inward as a source of identity or control. Money Must Remain a Servant When Jesus said we cannot serve both God and money, He was establishing the proper order of our allegiance. Money must remain a servant rather than becoming our master. In his sermon “The Use of Money,” John Wesley described money as a valuable gift when it is used in the hands of God's people. It can feed the hungry, provide clothing for those in need, and offer shelter to the traveler and stranger. That is a beautiful picture of money placed in its proper role. It is not worshiped, feared, or pursued as an end in itself. It is directed toward purposes that reflect God's love and generosity. Money may help us accomplish many good things, but it is never qualified to lead our lives. Only God deserves our trust, devotion, and obedience. Money Is Temporary, but Its Use Can Matter Eternally 1 Timothy 6:7 reminds us, “We brought nothing into the world, and we cannot take anything out of the world.” Every dollar we manage is temporary. Homes, accounts, investments, and possessions will eventually pass from our hands. Yet the way we use those temporary resources can have lasting significance. When we remember that money is temporary, we can begin to hold it more loosely. We can enjoy God's provision without being controlled by it. We can plan wisely without placing our hope in wealth. And we can give generously because we know that God—not our bank account—is our ultimate provider. Before your next decision about spending, saving, investing, or giving, consider asking a different question: Lord, how can this money serve You and others? Money is never the destination. It is simply a tool God places in our hands to accomplish purposes greater than ourselves. This is a central theme of Our Ultimate Treasure, a 21-day devotional designed to help you treat money as a tool rather than a treasure so that it can find its proper place in your life. You can order a copy—or copies for your church or small group—at FaithFi.com/Shop. On Today's Program, Rob Answers Listener Questions: My father gave me $75,000 after my mother passed away. My husband and I are nearing retirement with no emergency savings, about $140,000 in personal-loan debt from his failed business, plus a mortgage and car loan. We spend nearly $10,000 a month. After giving, should we use the money to build savings, pay down debt, or invest some of it? My husband and I are approaching 65, qualify for Social Security, and plan to keep working. I'm also eligible for a teacher pension. Should I claim Social Security now, delay it, or rely on my pension first? Would a Certified Kingdom Advisor® (CKA®) be the right person to help us evaluate our options? My father-in-law recently passed away, and I'm helping my mother-in-law with her finances. She has about $11,000 across six credit cards. Some issuers have offered to freeze the accounts and stop the interest while she repays them. Should she accept those arrangements or consolidate the balances into one loan? Her Social Security benefit is small, and my father-in-law's check has stopped. Could she qualify for a survivor benefit based on his record? Resources Mentioned: Faithful Steward: FaithFi's Quarterly Magazine (Become a FaithFi Partner) 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.

What if the secret to a longer, happier life has nothing to do with money or success, and everything to do with the people you call at 2am?Steph unpacks the science of connection in this episode, pulling from the Harvard Study of Adult Development to show why quality relationships are the strongest predictor of happiness and health we have. She dives into the paradox of the loneliness epidemic: we're more digitally connected than ever, yet young adults are living through a real friendship recession. Steph walks through why the quality of your relationships matters more than the quantity, how loneliness quietly wears down physical health, and why intentionality (not just proximity) is what makes a connection meaningful. It's a reminder that personal growth isn't only an inward journey, it's built in relationship with others.In this episode you'll discover:The loneliness epidemic and why it's toxic to our healthWhy quality relationships outpredict wealth, fame, and IQ for life satisfactionHow technology is fueling disconnection instead of solving itYour takeaways:Healthy relationships predict life satisfaction more than wealth or fameQuality of relationships matters more than quantityInvesting time in relationships is crucial for well-beingChapters00:00 The Loneliness Epidemic05:21 The Importance of Quality Relationships10:33 The Impact of Technology on Connection13:25 Investing in Relationships for a Fulfilling Life

Think all energy-related companies are driven by the same market forces? It's time to rethink that view. We interviewed Brian Watson of Invesco's SteelPath team about the often-overlooked world of midstream energy infrastructure — the systems that help move, store, process, and export the oil and gas people rely on every day. We discussed why these companies may be less tied to oil prices than many investors assume, how rising demand for liquefied natural gas and reliable power is shaping the long-term opportunity, and how midstream businesses can offer potential income, real asset exposure, and a differentiated role in diversified portfolios. (Invesco Distributors, Inc.)

In this episode of The Circuit, hosts Ben Bajarin and Jay Goldberg break down a packed earnings week across the technology and semiconductor sectors, grouping major updates into key themes around mobile markets and AI infrastructure. They analyze softness in mobile demand alongside severe supply chain bottlenecks impacting Apple, Qualcomm, ARM, and MediaTek, highlighting how surging AI demand is squeezing capacity across foundry and memory partners. The hosts then dive into hyperscaler CapEx trends from Amazon, Microsoft, and Meta, evaluating the transition from AI training to inference, the rising adoption of behind-the-meter power solutions, and severe labor constraints in electrical trades. Finally, they address the growing reliance on debt financing for data center expansion and unpack the market mechanics behind recent stock volatility and hedge fund unwinds.

Palantir kicks off another packed earnings slate after the bell, while manufacturing data is in focus this morning. Attention will then shift to jobs data later in the week. 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. 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. (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 this episode of Ohio Policy Talks, Anastasia and Veronica sit down with Lima Mayor Sharetta Smith to discuss how the city is taking a proactive approach to housing through its Build-Ready initiative. Mayor Smith shares what makes Lima unique, how housing demand and affordability pressures are affecting the community, and why the city saw an opportunity to make development easier and more predictable. The conversation also explores the connection between housing and economic development, the partnerships helping move this work forward, and what other Ohio communities can learn from Lima's approach. For REALTOR® members, this episode offers a practical look at how local governments can help remove barriers to housing development and support long-term community growth.Full Description / Show NotesHear from Lima Mayor Smith about what makes the city unique and how Lima is thinking about its future.Learn how housing demand and affordability pressures are showing up in Lima and why the city is taking a proactive approach.Dive into Lima's Build-Ready initiative and how the program is designed to make housing development easier to navigate.Explore why housing availability matters for economic development, workforce attraction, and long-term investment.Understand how partnerships with local leaders, developers, and community stakeholders are helping move the city's housing efforts forward.Discover what other Ohio communities can learn from Lima's approach to addressing housing needs.See why this conversation matters for REALTOR® members who are watching housing supply, local development, and community growth in their own markets.

Today, Evan looks at a few more questions confident investors should be able to answer: What is risk tolerance, and how much personal risk should you take in your investing journey? He explains how the balance between stocks and bonds — and between different types of stocks — affects the returns you might expect and the ups and downs you might experience along the way. Listen along as Evan explains why successful investing is not about putting money into the market and hoping for the best but building a portfolio you can feel confident about through the years because you're getting fairly compensated for the risk.   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. 

Interview with Jonathan Egilo, CEO, Axo MetalsOur previous interview: https://www.cruxinvestor.com/posts/axo-metals-tsxvaxo-brownfield-gold-restart-in-mexico-gains-momentum-ahead-of-september-pea-10759Recording date: 28th July 2026Axo Metals Corp. (TSXV:AXO) has removed the largest single risk on its San Antonio gold project's development timeline. On 27 July, Mexico's SEMARNAT approved the project's Environmental Impact Statement (MIA) - the primary permit required to build and operate the mine - roughly six months after Axo filed the application in January. That is well inside the one-year timeline management had originally guided investors to expect, and covers all of San Antonio's deposits (Sapuchi, Golfo de Oro and California) and existing infrastructure in a single approval.One administrative step remains: the Change of Use of Soils (CUS), a tree-clearing authorisation submitted earlier this year and expected to clear by year-end. It only affects mining at the three pits themselves - the project's existing carbon-in-column plant, crusher, stockpiles and camp are already fully permitted, meaning Axo can move toward stockpile reprocessing without waiting on it.With the MIA in hand, management has reallocated its drilling programme. Two of Axo's three active rigs - running a combined 3,000 metres a month - are now testing ground roughly 500 metres outside the current resource boundary, up from a programme previously weighted toward infill. That infill work is itself producing encouraging results: several holes have converted material previously modelled as waste into ore-grade intercepts, including 27.9 metres at 0.43 g/t gold roughly 100 metres from the nearest modelled ore domain.The company is also pushing back its Preliminary Economic Assessment by roughly two months from its original September target. Rather than publish a study anchored to San Antonio's pre-acquisition 2021 resource, management wants to fold in an updated estimate built on a full year of new drilling - meaning the PEA that eventually lands should reflect a materially different resource than the one the company inherited. A dedicated step-out and expansion drilling update is planned for September, separate from ongoing Sapuchi infill news flow, and will include first results from the high-grade El Tigre target, where channel sampling has already returned intercepts including 68.6 metres at 1.11 g/t gold.On capital allocation, Axo's $40 million February financing was earmarked specifically for San Antonio, and management has confirmed it is deliberately deprioritising near-term spending at La Huerta, its copper discovery in Jalisco, in favour of pushing San Antonio toward a construction decision. The company is also beginning to add Mexican open-pit, heap-leach construction personnel ahead of an expected full build phase at Sapuchi next year - a staffing transition modelled on sister company Silver Tiger's own shift from exploration to construction.As of the company's most recent investor materials (June 2026, pre-dating the permit approval), Axo carried roughly C$36.6 million in cash against a C$183.8 million market capitalisation and C$147.5 million enterprise value. For investors, the two nearest-term catalysts are the September drilling update and the revised PEA - both of which should offer the clearest test yet of whether San Antonio's resource is as substantially larger than its current 1.1 million ounces as management believes.Learn more: https://www.cruxinvestor.com/companies/axo-metals-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Drew Clark, President and CEO, Summit RoyaltiesOur previous interview: https://www.cruxinvestor.com/posts/summit-royalties-tsxvsum-targets-15m-revenue-run-rate-with-new-gold-streams-by-2028-10897Recording date: 28th July 2026Summit Royalties has added a new financing tool to a growth strategy that, until now, has relied almost entirely on equity. On July 27, the company announced a credit agreement with National Bank of Canada for a revolving facility with an initial US$25 million commitment, alongside an accordion feature providing for an additional US$25 million on the same terms — for total potential availability of US$50 million. The facility carries a three-year initial tenor, interest priced off SOFR or CORRA plus a leverage-dependent spread of 2.50% to 4.00%, and standard covenants including net leverage, interest coverage, and minimum liquidity requirements.Speaking to Crux Investor's Matt Gordon the day after the announcement, President and CEO Drew Clark was direct about what the debt is for and, just as importantly, what it isn't for. Summit's stated discipline is to use debt only against assets that will generate cash flow within three to five years — a narrower standard than the one that has applied to some of Summit's equity-funded acquisitions, including its recently closed purchase of Star Royalties, which added the Copperstone gold stream in Arizona to Summit's portfolio.Clark also used the interview to correct an earlier public framing of Summit's acquisition discipline. He clarified that roughly $250 million worth of transactions were rejected because Summit's own bids came in below sellers' clearing prices — for example, bidding $65 million on an asset that ultimately cleared at $80 million — rather than Summit walking away from opportunities that met its criteria. It's a useful clarification for investors trying to gauge how aggressively management is actually competing for assets versus how selectively it is declining them.On current market conditions, Clark described deal-making as comparatively easier than during the recent gold price peak, since the gap between long-term and spot pricing has narrowed. He flagged tungsten streams as a specific area of emerging opportunity alongside Summit's core precious metals focus, and noted that Summit is evaluating opportunities as both an acquirer and a potential acquisition target within the sector's ongoing consolidation.The most concrete disclosure for investors may be management's own valuation framework. Clark said the internal belief is that once Summit's revenue reaches somewhere between $20 million and $30 million annually, the company should re-rate toward 1 to 1.2 times NAV — in line with royalty peers — and toward 15-20 times revenue, versus a current multiple he characterised as below 10 times and a NAV multiple around 0.6 times. Management continues to target a production run rate of roughly 4,000 gold-equivalent ounces by the end of 2028 as the operational catalyst behind that thesis.Learn more: https://www.cruxinvestor.com/companies/summit-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Eger, CEO & Managing Director of Resolute Mining.Our previous interview: https://www.cruxinvestor.com/posts/resolute-mining-lsersg-gold-turnaround-reaches-inflection-point-5324Recording date: 30th July 2026Resolute Mining is executing a multi-year transformation from a single-jurisdiction Mali gold producer into a diversified, four-country West African miner, and CEO Chris Eger's message to investors is that the market hasn't yet caught up with the progress made in 2026.The near-term production base remains Syama (Mali) and Mako (Senegal), guided to a combined 250,000-275,000oz in 2026 at an AISC of $2,000-2,200/oz. Syama is completing a sulphide conversion project this year that lifts processing capacity to 4.0Mtpa, while Mako is bridging toward its next production phase via satellite deposits at Tomboronkoto and Bantaco, expected to extend that operation's life to 2033.The growth story sits in Côte d'Ivoire. Doropo, acquired from AngloGold Ashanti in 2025, is now under construction and tracking toward first gold in H2 2028. At a US$4,000/oz gold price, the project's post-tax NPV is US$2,543 million with a 72% IRR and a 1.1-year payback — economics that look, on paper, difficult to ignore. Construction is well underway: 74 hectares cleared, 20km of access roads built, and key long-lead equipment packages awarded. Reserves of 2.5 million ounces sit within a 4.4 million ounce resource base that Eger expects to grow toward 3.5-4 million ounces of reserves over time.A second Côte d'Ivoire asset, the ABC project, saw its inferred resource expanded to over 3.0 million ounces in July 2026, up from 2.2 million ounces, following an aggressive 31,000m drill programme. Management is positioning ABC as Resolute's potential fourth mine, targeting feasibility study completion by the end of 2027.Financially, the company is in a strong position to fund this pipeline without near-term equity dilution: $317 million in net cash, $426 million in available liquidity, and freshly secured local bank facilities of $155 million (with $105 million more expected) to supplement Doropo's construction financing.The key risk factor, and the one Eger addressed most directly, is Mali's evolving fiscal and security environment. Royalty rates have risen materially since 2024, shifting the government-operator cash split from roughly 50/50 toward 60-65% in the government's favour, a trend Eger frames as a broader African pattern rather than Mali-specific resource nationalism. Security incidents in late 2025 and April 2026 disrupted operations temporarily, though Eger describes the situation as improving as of his most recent site visit.Valuation-wise, Resolute trades at the bottom of its West African peer group: 0.4x P/NAV, US$172/oz on reserves and US$63/oz on resources, all below the peer averages and, in several cases, the lowest in the comparable set. Management's thesis is straightforward: as Doropo comes online and the portfolio's geographic concentration in Mali falls from its current ~60% share of value, the valuation discount should narrow. For investors, the catalysts to watch over the next 12-18 months are Doropo construction milestones, ABC's feasibility progression, and any further developments in Mali's fiscal or security environment.Learn more: https://www.cruxinvestor.com/companies/resolute-miningSign up for Crux Investor: https://cruxinvestor.com

Joanna Nathan, CEO and co-founder of Prana Surgical, adjunct professor at Rice University and a former MedTech investor who spent years at the J&J MedTech Center for Device Innovation before crossing over into building herself. Her company recently secured FDA clearance for the Prana System, a tissue-sparing platform rethinking how early stage lung cancer is diagnosed and treated.In this episode, Joanna shares the deeply personal story behind her move from investing back into operating, having lost her four year old son in 2021 and wanting proximity to patient impact rather than evaluating innovation from the sidelines. It is an honest and moving conversation about what actually drives someone to take on a decade-long mission.We get into what she learned watching hundreds of pitches from the investor seat, why a no is very often about portfolio construction and timing rather than the quality of your idea, and why a fundraising pitch is a vision document backed by evidence rather than a journal article. Joanna then breaks down the problem Prana is solving, why removing large portions of lung for a tiny early stage nodule is no longer justifiable and how the system is right-sized for the level of risk these smaller lesions present.We also explore the changing face of lung cancer, the rise of never smokers now approaching one in three patients, why the disease is getting younger and more female, the role of mobile screening in rural areas and where AI genuinely helps rather than replaces clinical judgement. Joanna closes with hard-won advice for anyone thinking about founding a company and why community is what carries you through.Timestamps[00:01:38] From Research to Investing to Building: The Path Back to Operating[00:03:33] Why a No From an Investor Is Rarely About Your Idea[00:05:29] Why a Pitch Is a Vision Document Not a Journal Article[00:07:16] The Problem With Early Stage Lung Cancer Surgery Today[00:09:22] The Rise of Never Smokers and a Disease That Is Changing Fast[00:11:03] Why Women Under 50 Now Face Higher Lung Cancer Rates[00:13:18] Getting Creative on Access: Mobile CT Screening in Rural Areas[00:17:21] AI in MedTech: Assisting Clinical Judgement Not Replacing It[00:19:22] How Houston Became an Unlikely MedTech Powerhouse[00:24:06] Who Should Not Become a Founder and the Decade-Long QuestionConnect with Joanna - ⁠linkedin.com/in/joannacnathan/Learn more about Prana Surgical - https://www.pranasurgical.com/Get in touch with Karandeep Badwal - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/karandeepbadwal/ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow Karandeep on YouTube - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@KarandeepBadwal⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Medical device training courses delivered by Karandeep through Bywater - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.bywater.co.uk/

Barak Bussel is one of the few people operating simultaneously at three levels of the quantum stack: deploying private capital into hardware and software companies through 7i Capital, chairing the strategic board of a major university quantum center, and helping stand up the physical infrastructure — a 700,000 square foot research park on the site of the former Westside Pavilion — meant to convene academia, industry, national labs, and startups in one place. He is also a physicist by training, which changes the kind of diligence questions he asks.We recorded this at the KPMG Tech and Innovation Symposium in Deer Valley, only weeks after the most consequential stretch of quantum news in years: Oratomic's $300M Series A (the largest first institutional round in quantum history, with 7i in the syndicate), a Google Quantum AI paper cutting Shor's algorithm resource estimates to around 500,000 physical qubits on superconducting hardware, and two June 2026 White House executive orders on quantum innovation and post-quantum cryptography. If you want to understand how a serious investor is actually pricing risk, timelines, and ecosystem-building in this moment, this is the conversation.What We Get IntoWhy 7i backed Oratomic's aggressive "no intermediate product, straight to fault tolerance" strategy, and how Barak thinks about betting on teams versus theses in deep techHow recent architecture and QLDPC error correction advances have compressed physical-to-logical qubit ratios, and what that means for near-term resource estimates for Shor's algorithmWhy a lesser-noticed April 2026 Google Quantum AI paper on quantum-assisted memory reduction for classical AI workloads may matter as much as the Shor's-focused headlinesWhat "patient capital" actually looks like when a connector problem eats two years of a portfolio company's roadmapThe Bell Labs template as a serious operating model for the UCLA Research Park: convening academia, industry, government, and startups in a single physical footprintThe historical resonance of UCLA sending the first ARPANET packet in 1969 and what that suggests about where quantum networking work should be anchoredHow Kedma's error mitigation work with IBM's Heron II and RIKEN pushed a 51-qubit Ising model simulation to the edge of what's classically tractableHow Barak reads the June 2026 executive orders and the federal role — enabling infrastructure rather than picking winners — against the scale of Chinese government fundingResources & LinksGuest & OrganizationsBarak Bussel bio — UCLA CQSE Strategic Board — Official page covering Barak's role as Board Chair and his physics and venture background.7i Capital — Barak's deep tech venture firm, investing across quantum, AI, semiconductors, cybersecurity, robotics, clean energy, and space.UCLA Center for Quantum Science and Engineering (CQSE) — The multidisciplinary center Barak chairs, spanning physics and engineering research.Barak Bussel on LinkedIn — Where Barak has publicly flagged the Oratomic investment and the June 2026 executive orders.The Oratomic Round and Recent BreakthroughsOratomic raises $300M Series A — The Quantum Insider — Confirms 7i Capital in the syndicate for the largest-ever first institutional round in quantum computing.Oratomic Series A deep dive — Quantum Computing Report — Technical breakdown of the reconfigurable neutral-atom architecture and full investor syndicate.Oratomic's "no intermediate product" strategy — MLQ.ai — Analysis of Oratomic's bet against the QuEra/Pasqal early-revenue playbook.QEDMA raises $26M Series A — Quantum Zeitgeist — 7i portfolio company Kedma's error mitigation round with IBM participation, referenced in Barak's Ising model results.Policy and Market ContextWhite House EO: "Ushering in the Next Frontier of Quantum Innovation" — One of the two June 22, 2026 executive orders Barak discusses.Sidley Austin analysis of the June 2026 quantum EOs — Legal explainer covering both the innovation EO and the post-quantum cryptography mandate.Cloudflare on the accelerated post-quantum timeline — Notes that Q-Day estimates have moved in response to Google and Oratomic breakthroughs.PitchBook Q2 2026 Quantum Computing Funding Report — Record 2025 VC totals and Q1 2026 liquidity data relevant to Barak's exit thesis.UCLA Research Park and Regional EcosystemUCLA launches SoCal Quantum Alliance — The regional coalition Barak references, with founding members including Caltech, JPL, Boeing, IBM, and Cisco.Quantum Innovation Hub at the UCLA Research Park — Preview of the 40,000 square foot lab space and the broader research park vision Barak describes.Quantum Innovation Hub Director appointment — Prof. Jason Petta named to lead the QIH, one of the founding anchors of the research park.Key Quotes & InsightsOn patient capital in hardware: "You're producing a new chip… all of a sudden a year and a half has passed." Barak's example of a photonics company that spent two years solving a flex connector problem is a useful ground truth for anyone modeling quantum hardware timelines.On the role of universities: Industry has scale — the ability to throw 500 engineers at a problem. Academia brings "the quiet depth to think very deeply about a problem over an extended period of time, two or three generations ahead."On resource estimates: The gap between the original 20-million-qubit Shor's estimates and the recent Google Quantum AI paper suggesting ~500,000 physical qubits on superconducting hardware, plus Oratomic's neutral-atom approach at the ten-thousand-qubit scale, represents a genuine compression of the fault-tolerance horizon.On the underappreciated Google paper: An April 8 paper on using quantum processors to reduce memory requirements for massive classical data sets is, in Barak's view, the first rigorous demonstration that quantum could bend the exponential curve of AI compute demand.On government's role: "Typically in the U.S., government is not the best at picking the winners and losers in the marketplace. But it's great at enabling." The El Segund...

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