Podcasts about Longview

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Best podcasts about Longview

Latest podcast episodes about Longview

The Long View
Tim Steffen: Tax-Saving Strategies for a Falling Market

The Long View

Play Episode Listen Later Sep 20, 2022 55:15 Very Popular


Our guest on the podcast today is Tim Steffen, director of tax planning for Baird. In his role, Tim researches, writes, and speaks about various tax matters, including retirement planning, executive compensation, legislative changes, and overall best practices. Tim originally joined Baird in 1999, serving in a variety of planning-oriented roles, most recently as director of advanced planning. He left Baird in 2019 to join the Advisor Education team at Pimco, then returned to Baird in 2021. Prior to 1999, Tim worked in Arthur Andersen's Private Client Services group. He earned his bachelor's degree in accounting from the University of Illinois. He is a Certified Public Accountant/Personal Financial Specialist, a Certified Financial Planner professional, and a Certified Private Wealth Advisor professional.BackgroundBioStudent Loan Forgiveness and Inflation Reduction ActAmerican Rescue Plan“5 Questions About Student Loan Forgiveness,” by Lia Mitchell and Karen Wallace, Morningstar.com, Aug. 29, 2022.“What Student Loan Forgiveness Means for Your Finances,” by Amy C. Arnott, Morningstar.com, Sept. 2, 2022.“Fact Sheet: The Inflation and Reduction Act Supports Workers and Families,” whitehouse.gov, Aug. 19, 2022.“IRS Tax Return Audit Rates Plummet,” by Ashlea Ebeling, forbes.com, May 18, 2022.S CorporationsTax-Loss Selling in a Weak MarketWhat Is Tax Selling?“It's Time for Tax-Loss Selling,” by Christine Benz, Morningstar.com, June 3, 2022.“Michael Kitces: Does Portfolio Customization Pay Off?” The Long View podcast, Morningstar.com, Aug. 23, 2022.IRA Conversions“IRAs: To Convert or Not To Convert?” bairdwealth.com, August 2022.“Surprising Upsides in a Down Market,” bairdwealth.com, June 22, 2022.“Are IRA Conversions a Good Idea During Volatility?” Interview with Christine Benz and Tim Steffen, Morningstar.com, May 12, 2020. “Is the Backdoor Roth Still Legit?” by Christine Benz, Morningstar.com, Jan. 21, 2022. “Don't Let Pro Rata Rules Trip Up Your Retirement Plan,” by Christine Benz, Morningstar.com, Feb. 27, 2018. Inherited IRAs“The Secure Act, RMDs, and Beneficiaries: Another Wrinkle,” by Natalie Choate, Morningstar.com, Dec. 8, 2021.“Why You Should Review Your Estate Plan This Year,” Interview with Christine Benz and Ed Slott, Morningstar.com, March 23, 2022.

The Promise Church
REASON TO CELEBRATE | Pastor Jonathan

The Promise Church

Play Episode Listen Later Sep 18, 2022 31:06


The Long View
Farnoosh Torabi: 'Money Is Meaningless Without Goals'

The Long View

Play Episode Listen Later Sep 13, 2022 58:03 Very Popular


Our guest on the podcast today is personal finance expert Farnoosh Torabi. Farnoosh is editor at large for CNET Money. She has also written several books, including When She Makes More and You're So Money. In addition, Farnoosh hosts the Webby-nominated So Money podcast, where she interviews leading experts and authors about their financial perspectives and answers listeners' questions. For several years, she has hosted the Webby-nominated web series Financially Fit on Yahoo. She has also served as a money coach on such shows as Remake America on Yahoo, Bank of Mom and Dad on SOAPnet, and TLC's Real Simple, Real Life. Farnoosh graduated with honors from Penn State University with a degree in finance and international business. She also holds a master's degree from the Columbia University Graduate School of Journalism.BackgroundBio   CNET MoneySo Money podcastWhen She Makes More: The Truth About Navigating Love and Life for a New Generation of Women, by Farnoosh TorabiYou're So Money: Live Rich, Even When You're Not, by Farnoosh TorabiDavid BachJean Chatzky“Jean Chatzky: ‘Financial Stress Is a Big Topic in Need of More Oxygen,'” The Long View podcast, Morningstar.com, Dec. 15, 2020.Current Environment and Personal Finance“3 Money Questions to Ask Yourself in a Recession, According to Financial Expert Farnoosh Torabi,” by Nick Wolny, time.com, April 11, 2022.“Saving for Retirement at Every Age,” by Farnoosh Torabi, farnoosh.tv.com.“The Best Financial Apps and Tools to Help You Save, Spend, and Invest Better,” by Farnoosh Torabi, time.com, Jan. 4, 2022.Women and Money“Why the World Is Better Off When Women Make More—With Farnoosh Torabi,” Marriage, Kids, and Money interview, youtube.com, Oct. 22, 2018.“Americans See Men as the Financial Providers, Even as Women's Contributions Grow,” by Kim Parker and Renee Stepler, pewresearch.org, Sept. 20, 2017.“Equal Pay Day: One Bright Spot,” by Farnoosh Torabi, farnoosh.tv.com.“Why Financial ‘Fairness' Can Be a Losing Game in Your Marriage,” by Farnoosh Torabi, cnet.com, Oct. 13, 2021.“Ask Farnoosh: Investing in a Bear Market, Changing Jobs and Earning More,” So Money podcast, cnet.com, July 8, 2022.“How to Ask for a Raise in a Pandemic Recession,” by Farnoosh Torabi, washingtonpost.com, Aug. 31, 2020.So Money Podcast“Black Wealth Matters: Queen Latifah,” So Money with Farnoosh Torabi, June 10, 2020. “Adam Torabi (Dad!): A Layoff Comeback Story,” So Money with Farnoosh Torabi, July 11, 2018.“Ask Farnoosh: Your Biggest Student Loan Forgiveness Questions, Answered,” So Money with Farnoosh Torabi, Sept. 2, 2022.

Moms Who Create
Being Resilient in the Face of Terrible Things - a Children's Book About Trauma with Bethany Walker

Moms Who Create

Play Episode Listen Later Sep 12, 2022 19:02


Bethany Walker is a mom, wife, social worker, and author. She is a member of the Society of Children's Book Writers and Illustrators and Julie Hedlund's 12x12 Picture Book Challenge. Bethany's work was recognized as a finalist for YA in the 2022 Kids' Choice Kidlit Writing Contest and as an Honorable Mention in the 2022 Picture Book Party. Bethany enjoys writing fiction in various forms including flash fiction and children's literature as well as interviewing authors on her blog "Picture Book Therapy Thursday".  Bethany's debut picture book is "Lena & the Dragon", self-published through her imprint Lillibook in December of this year. When she isn't writing, Bethany works as a licensed clinical social worker. She provides therapy, workshops, and other family services. In her free time, she binges horror movies and collects an absurd amount of books. Bethany lives in Longview, TX with her husband Cliffton, daughter Lillian, and pets. TW: Bethany's book deals with childhood trauma. We don't go into immense detail, but we do discuss how children are affected by certain traumas and how her book helps them process everything and be comforted in all of their situations. She's created a wonderful book for children, I hope you enjoy today's episode. https://www.bethanywalkerauthor.comhttps://twitter.com/bookshelfofbethhttps://www.facebook.com/bookshelfofbeth/contactbwalker@gmail.comSupport the show

Only in Seattle - Real Estate Unplugged
#1,323 - Homeless People Race to Move Out of Longview Encampment After City Declares Public Health Emergency

Only in Seattle - Real Estate Unplugged

Play Episode Listen Later Sep 12, 2022 26:50


The homeless residents of a large campsite in Longview, Wash. raced to clear out their belongings and animals Monday morning. It was 11 a.m., and they were hastening to complete the move after the city declared the camp, located off Alabama Street, the source of a public health emergency. The city says it does not consider homelessness a crime, so officials facilitated a way for the campers to move onto an adjacent city-owned parking lot where they must each keep their tents within a 12 foot by 12 foot square marked out with spray paint.LIKE & SUBSCRIBE for new videos everyday. https://bit.ly/3KBUDSK

The Promise Church
THE GOOD FRUIT OF GOD | Pastor Nick

The Promise Church

Play Episode Listen Later Sep 11, 2022 50:18


LONGVIEW CAMPUS | Pastor Nick shares on stepping into the impossible and leaning on the Holy Spirit for the fruit in our lives.

The Leftscape
Democracy: The Long View (Episode 129)

The Leftscape

Play Episode Listen Later Sep 8, 2022 92:27


Dr. Elisabeth VanderWeil on Democracy, Fear, the Future, and How History Can Help Elisebeth VanderWeil, PhD, is the author of Apocalyptic Best Practices: A unique approach to fear and change. She also works as Organization Development Specialist for Pioneer Human Services and Principal Consultant at Hand in the Dark Consulting, as well as volunteer librarian for The Whidbey Institute. When she isn't doing one of these things, she is expanding her amigurumi crochet repertoire, playing with her dog, or discussing the finer points of Star Trek. Dr. VanderWeil was the guest on Episode 67, "To Be Free, With Fear." In today's episode's engaging conversation, she speaks about how history helps her cope with the political landscape, the shaky future of democracy as we know it, and how listening to fear while acting with compassion may be the key to living better now. Co-hosts Wendy Sheridan and Robin Renée begin the show with their check-in and 3 Random Facts about the Atlantic hurricane season, the events in the heptathlon, and how crickets make pretty good thermometers. In the News this time is Joe Biden's speech at Independence Hall in Philadelphia, the predictable link between doomscrolling and poor health, changes at CNN and other mergers, a faculty strike at American University, a special election in Alaska, and the Bucks County Kind project. In The Artscape segment, Robin shares a deeply personal reading on music, race, and cultural demands called "Love Night." Things to do: Read Apocalyptic Best Practices: A unique approach to fear and change by Dr. Elisabeth VanderWeil. Navigate change with Hand in the Dark Consulting. Check out This Day in Esoteric Political History. Read The Unwritten Book by Samantha Hunt. Consult the Media Bias Chart. Watch President Biden's speech at Independence Hall on "extremist threat to democracy." Read DAME Magazine. Join Bucks County Kind and do nice things. Know Your Meme -- Dark Brandon!                           Sound engineering by Wendy Sheridan Show notes by Robin Renée Fake sponsor messages by Ariel Sheridan Web hosting by InMotion Remote recording by SquadCast

Property Podcast
Evan Thornley on Making the Right Decisions to Admire the Long View

Property Podcast

Play Episode Listen Later Sep 8, 2022 48:15


With a baker's dozen of startups under his belt, social and tech entrepreneur Evan Thornley isn't one to call it quits. He started his 14th startup, property advisory firm LongView, with co-founders Antony Cohen and Cath Stubbings over six years ago, and is still as full of drive as he was on day one.In this episode, Thornley details how he plans to unlock the Australian property landscape using its oftentimes forgotten key: The mum and dad home buyers and investors, rather than the government or developers. The former LookSmart CEO is no stranger to pioneering his way through industries, and with 35 years of investing experience behind him, LongView is just the latest in his extraordinary tale. He shares tidbits from his time in Parliament, real-life case studies that sound too good to be true, and why the conventional real estate business model isn't as robust as it seems. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Classical Education
Teaching Math Like Socrates: Engaging Students as Mathematicians

Classical Education

Play Episode Listen Later Sep 8, 2022 62:51


About our GuestsKevin Moore is an experienced educator of young learners as well as a respected instructional leader. Presently, Kevin's attention and energies are consumed by two ventures of which he is a Co-Founder, Long-View Micro-School and The Number Lab. Long-View Micro School is a STEM focused, highly innovative, learner-centered educational environment thoughtfully designed for upper elementary and middle-school-aged learners.  Through his work at Long-View, Kevin is committed to impacting the educational landscape locally by adding to the diversity of schooling options for families in Austin Texas. In his work with The Number Lab, Kevin helps to design and facilitate professional development seminars for teachers who provide mathematics instruction to young learners. These seminars are meant to help teachers strengthen their own conceptual understandings of mathematics and inspire a culture of learning in their classrooms that engages learners as mathematicians. Kevin's work with The Number Lab connects him with educators throughout the United States and beyond.  Kaylie White is an experienced educator at Long-View Learning, where she strives to transform mathematics education by working with both young learners and educators from across the country. Kaylie designs and leads learning experiences for young mathematicians at Long-View Micro School — a STEM-focused, highly innovative, learner-centered educational environment designed for upper elementary and middle-school-aged learners. Through Long-View's teacher-facing work, Kaylie creates and facilitates professional development for teachers, including in-person workshops, Field Study Days at Long-View Micro School, and virtual coaching. She also leads the social media marketing for Long-View Learning. Kaylie is a bold, creative, and passionate educator who sees herself as a learner first. She eagerly works to collaborate with her team to continuously iterate and improve the learning experience for all. When she is not teaching and learning, Kaylie enjoys time with her husband and one-year-old son in Austin, Texas where they cook, hike, read, play soccer, and cheer on Austin FC.Follow their work: Instagram: long_view_learning School's instagram:  long_view_atx Website: long-view.com  Professional Development from The Number Lab (Long-View Team) Find Support from the team at https://www.long-view-learning.com/Show NotesAdrienne and Trae interview two master teachers in mathematics from Long- View Micro School in Austin, Texas. While Long-View is a progressive school, they have discovered the truth of dialectis in the classroom. While they do not formally consider their methods as classical, and their terminology may be different than common terms in classical education, they truly embrace the art teaching math dialectically. Teaching math is not about state standards or facts and formulas to memorize, but rather it is a discipline that is engaging, interesting, and helps students learn thinking and communication skills which are common to the goals of classical education. Some topics in this episode include: The high abilities of children to wrestle with big ideas and participate in deep and meaningful work The importance of a healthy community of learners with teachers as facilitators who will challenge and mediate students through meaningful ideas Children need opportunities to grapple with complex ideas so that they can learn the art of dialectics (Longview school is not classical and does not call it the art of dialectics, but that is inadvertently what is being discussed).  Real understanding emerges from the messiness of learning how to be precise with good language, with communication, and with tapping into creative ways of solving problems. Setting a school culture where learning is a process that everyone does together. .Books & Resources In This EpisodeA Mathematician's Lament: How School Cheats Us Out of Our Most Fascinating and Imaginative Art Form by Paul Lockhart and Keith Devlin  Visilbe Learning by John HattieDaring Greatly by Brené Brown Learner-Centered Teaching by Maryellen WeimerPlease Support us on Patreon_________________________________________________________Credits:Sound Engineer: Andrew HelselLogo Art: Anastasiya CFMusic: Vivaldi's Concerto for 2 Violins in B flat major, RV529 : Lana Trotovsek, violin Sreten Krstic, violin with Chamber Orchestra of Slovenian Philharmonic © 2022 Beautiful Teaching. All Rights Reserved ★ Support this podcast on Patreon ★

Rollin' Bones with Ryan Howard

Matt Gullett joins me to discuss the 6th annual Long Con in Longview, Texas, Dungeon Crawl Classics, and so much more! Music by John Page Join us live every Monday at https://www.youtube.com/c/RollinBones --- Support this podcast: https://anchor.fm/rollin-bones/support

The Power Connect
Ep. 36 - Hawk Dunlap - Well Control Intl.

The Power Connect

Play Episode Listen Later Sep 6, 2022


Sometimes you meet folks who look and sound exactly like their name - and Hawkins ‘Hawk' Dunlap fits that bill. This 32-year Oilfield Veteran from Longview, Texas may not look like a global businessman and world traveler at first glance, but after a few minutes you realize this man has seen firsthand what oil and gas means to the global economy and the importance of investing in oil and gas wells. From West Texas to Singapore and hundreds of points in between, Dunlap shares how he got his start as as well control specialist; the causes of well fires across the globe; the mercenary nature of his job; how Nigeria is doing a better job than his home state at capping wells and how a Covid forced him back home - and a chance meeting with Sarah Stogner led him to helping out her campaign. It's a helluva podcast debut from one of the more well-traveled oil and gas professionals in the world. Learn more about Hawk Dunlap.

Australian Property Investor
From Welfare To Billionaire: Evan Thornley on Running A $14.2B Empire

Australian Property Investor

Play Episode Listen Later Sep 5, 2022 38:57


Evan Thornley is a tech and social entrepreneur who has been investing in real estate in Australia and the US for over 30 years. His name is synonymous with success, having founded and led the first Australian high-tech company to achieve a NASDAQ listing— and a market value of $14.2 billion. Today his title is Executive Chair at LongView, however you may also recognise his name from companies such as LookSmart, Better Place, and McKinsey, or as the co-founder of the GoodStart Consortium. In this episode Thornley shares his roots that allowed him to grow into the benevolent leader he is, starting with his humble childhood. We learn how he leapfrogged from one place to another, gaining new skills and unearthing new talents along the way. Taking listeners on a journey from Gosford to Melbourne and Kuala Lumpur to New York and beyond, Thornley reveals the steps he took— and is still taking— to revolutionise the Australian property market, one landlord and one renter at a time. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Australian Property Investor
Evan Thornley on Making the Right Decisions to Admire the Long View

Australian Property Investor

Play Episode Listen Later Sep 5, 2022 48:15


With a baker's dozen of startups under his belt, social and tech entrepreneur Evan Thornley isn't one to call it quits. He started his 14th startup, property advisory firm LongView, with co-founders Antony Cohen and Cath Stubbings over six years ago, and is still as full of drive as he was on day one.In this episode, Thornley details how he plans to unlock the Australian property landscape using its oftentimes forgotten key: The mum and dad home buyers and investors, rather than the government or developers. The former LookSmart CEO is no stranger to pioneering his way through industries, and with 35 years of investing experience behind him, LongView is just the latest in his extraordinary tale. He shares tidbits from his time in Parliament, real-life case studies that sound too good to be true, and why the conventional real estate business model isn't as robust as it seems. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Property Podcast
From Welfare To Billionaire: Evan Thornley on Running A $14.2B Empire

Property Podcast

Play Episode Listen Later Sep 5, 2022 38:57


Evan Thornley is a tech and social entrepreneur who has been investing in real estate in Australia and the US for over 30 years. His name is synonymous with success, having founded and led the first Australian high-tech company to achieve a NASDAQ listing— and a market value of $14.2 billion. Today his title is Executive Chair at LongView, however you may also recognise his name from companies such as LookSmart, Better Place, and McKinsey, or as the co-founder of the GoodStart Consortium. In this episode Thornley shares his roots that allowed him to grow into the benevolent leader he is, starting with his humble childhood. We learn how he leapfrogged from one place to another, gaining new skills and unearthing new talents along the way. Taking listeners on a journey from Gosford to Melbourne and Kuala Lumpur to New York and beyond, Thornley reveals the steps he took— and is still taking— to revolutionise the Australian property market, one landlord and one renter at a time. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Pathway Church
WHO DO YOU THINK YOU ARE?

Pathway Church

Play Episode Listen Later Sep 4, 2022 51:11


IDENTIFIED: WHO DO YOU THINK YOU ARE? Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post WHO DO YOU THINK YOU ARE? appeared first on Pathway Church of Longview Texas.

The Promise Church
STEWARDING AN APOSTOLIC CHURCH | Pastor Doug Sherman

The Promise Church

Play Episode Listen Later Sep 4, 2022 64:49


WOODLAND CAMPUS | Pastor Doug shares on the attributes of an Apostolic church and stewarding the move of God in the church.

The Nonlinear Library
EA - EA is too reliant on personal connections by sawyer

The Nonlinear Library

Play Episode Listen Later Sep 1, 2022 13:03


Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: EA is too reliant on personal connections, published by sawyer on September 1, 2022 on The Effective Altruism Forum. Epistemic status: Personal experience and anecdotes have led me to this bundle of weakly-held views, and I'm wondering what other people think. My experience is heavily biased towards the existential risk subculture of EA, so it's possible that my criticism applies much less (or not at all) outside of that subculture. I think the EA community is too reliant on personal connections in a number of ways. I think that many individuals and organizations would benefit (by their own lights) from taking steps to be less reliant on personal connections, and that such steps would also increase overall impact by supporting better ideas, increasing community health, and improving the community's reputation among outsiders. Evidence that EA is very reliant on personal connections Many large donors (and donation advisors) do not take general applications. This includes Open Philanthropy (“In general, we expect to identify most giving opportunities via proactive searching and networking”), Longview, REG, CERR, CLR, and the new Longtermism Fund. The 80,000 Hours job board does not take applications, saying, “Due to resource constraints, we are currently unable to process unsolicited requests to list vacancies on this board.” Compared to other communities, I think EA organizations and grantees are more likely to get funding from one of a small group of funders. Historical EA funding data is dominated by Open Philanthropy, Givewell, and (starting in 2022) FTX. Effective Altruism Data suggests that Founders Pledge might also be in this small dominant group. I don't know how to compare this to other communities or research fields so I can't really back up my claim with data, but I'd be interested if anyone has thoughts on this. Compared to other communities, EA grantees and grantors share a higher number of personal and professional connections. I can't figure out how to operationalize this and don't have any sources, but it seems obvious to me. How many physicists live in a group house with their NSF grant evaluator? How many physicists have a part-time job making grants to their colleagues? Both of these things are common among employees of organizations in the EA community. As a counterexample to my claim about the lack of applications, it's important to note that some large EA-affiliated funders do take applications. For example, EA Funds, SFF, ACE, and FTX (though only once, and they “do not currently have any plans to resume accepting applications and do not know if or when we will do so”). Also, Givewell takes applications “for organizations [to] apply for a recommendation without receiving an invitation from GiveWell.” Finally, while 80k's job board doesn't take applications, it does include lots of jobs at organizations that don't normally consider themselves part of the EA community, which I see as evidence against EA overreliance on personal connections. Why is overreliance on personal connections a problem? The more reliant we are on personal connections to achieve our altruistic goals, the more we entangle the EA community with the EA project. Having an EA community is good[citation needed], but the community is not identical to the project. Communities enforce certain norms and styles (any community that does not do so loses out on many of the benefits of being a community), and so necessarily exclude people who don't want to follow those norms or who dislike that style. Furthermore, identifying the community with the project risks making people feel like once they leave the community, they might as well stop pursuing the project as well. Put another way, “I don't feel like I belong in this community, so I guess I'm not meant to do [job/project/skill set tha...

Faith Producers International Podcast
WHEN THE WHISTLE BLOWS #914/ EMBRACING THE FATHERS HEART WITH DR GEORGE WATKINS

Faith Producers International Podcast

Play Episode Listen Later Sep 1, 2022 17:21


WHEN THE WHISTLE BLOWS A few days ago, I had lunch with two pastor friends at the mill city Café in Longview, Washington. After lunch, I decided to stroll down Main Street and take in the sights. I have been in and out of Longview most of my life, with some connection to ministry and churches in town. My earliest memories of this small northwestern town were when dad and mother preached in one of the pioneer churches in town. Later, I came as a single evangelist and returned later as a married one. I held my most protracted revival meeting in this town for six weeks of powerful encounters with God. However, even though I had all this history, I had never walked down Main Street and taken in the town's atmosphere. It wasn't long before I came upon an iconic past memorial. As I began to read the history of this town, I noticed I was standing in front of an enormous steam whistle. As the story unfolded, I found that this steam whistle was on top of the largest sawmill in the nation in the 1930s. I also discovered that a man named R A Long had financed and built the only entire city in the 20th century in the United States, and they called it Longview. I was impressed; then I read about the whistle I was looking at. This whistle was powered by steam and was so loud it could be heard for 25 miles. The sound of this monster whistle signaled when each shift of the largest saw Mill in the nation would change. And when it did, everyone within a range of 25 miles knew it. Standing in front of that iconic whistle, I suddenly felt small compared to the history whirling around me. I was standing in the middle of the town; most people didn't know it was there, yet it changed the course of history for this entire region and generations of families that worked in its great sawmill. And in the middle of it all was this larger-than-life brass steam whistle that controlled at all. As I stood there, I was reminded of the Holy Spirit's witness in each of us. God has a whistle that goes off at various times in our daily life, telling us it's time for a shift change. Now here's a secret most people don't understand about that whistle; when it goes off, everybody around us knows it.  When it's time for a change, it affects everyone around us. Stay sensitive, my friends; God is blowing his whistle inside your spirits. YOU CAN GIVE HERE=http://www.georgewatkinsministries.com/help-us.html WEBSITE= http://www.georgewatkinsministries.com/home-page.html FACEBOOK=https://www.facebook.com/FaithProducerstv/ Faith Producers address: PO Bx 1006 Mt Vernon, WA 98273 FAITH PRODUCES AN INTERNATIONAL PODCAST https://faithproducers.podbean.com/

The Promise Church
COMMUNICATING WITH GOD | Pastor Daryl Boucher

The Promise Church

Play Episode Listen Later Aug 28, 2022 54:01


LONGVIEW CAMPUS | Guest speaker Pastor Daryl Boucher shares on Holy Spirit led communication with God and allowing Jesus to elevate our understanding from human reasoning to Godly wisdom.

Pathway Church
CHANGING IDENTITY

Pathway Church

Play Episode Listen Later Aug 28, 2022 47:56


IDENTIFIED: CHANGING IDENTITY Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post CHANGING IDENTITY appeared first on Pathway Church of Longview Texas.

Every Town
Longview SERIAL KILLER - Joseph Kondro - Longview, WA

Every Town

Play Episode Listen Later Aug 26, 2022 25:23


Joseph Kondro. An adopted child. father of six. And the man known as “The Longview Serial Killer”--------------------------------------------

Emmanuel Baptist Church of Longview
When He Shall Appear - Sunday AM 08/21/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 24, 2022 37:17


Listen to a message from Emmanuel Baptist Church of Longview, TX.Support the show

Emmanuel Baptist Church of Longview
Take No Thought For Tomorrow - Sunday AM 08/14/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 24, 2022 35:58


Listen to a message from Emmanuel Baptist Church of Longview, TX.Support the show

Emmanuel Baptist Church of Longview
Separate Me Barnabas and Saul - Sunday PM 08/14/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 24, 2022 43:07


Listen to a message from Emmanuel Baptist Church of Longview, TXSupport the show

Emmanuel Baptist Church of Longview
Suffering Like Christ - Sunday PM 08/21/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 24, 2022 33:55


Listen to a message from Emmanuel Baptist Church of Longview, TX.Support the show

The Long View
Michael Kitces: Does Portfolio Customization Pay Off?

The Long View

Play Episode Listen Later Aug 23, 2022 62:33 Very Popular


We welcome back Michael Kitces, who was one of our first guests on The Long View. Michael is the head of planning strategy for Buckingham Wealth Partners. In addition, he is a co-founder of the XY Planning Network, AdvicePay, New Planner Recruiting, fpPathfinder, and XY BeanCounters. Kitces also oversees the leading industry blog for financial advisors, Nerd's Eye View at kitces.com, which reaches more than 250,000 readers each month. He also has two podcasts, Financial Advisor Success and Kitces & Carl, the latter of which he produces with Carl Richards. He has received numerous financial planning designations, including the Certified Financial Planner, Chartered Financial Consultant, and Chartered Life Underwriter designations. He received his bachelor's degree in psychology from Bates College and subsequently earned master's degrees in taxation and financial planning.BackgroundBioXY Planning NetworkAdvicePayNew Planner RecruitingfpPathfinderXY BeanCountersNerd's Eye ViewFinancial Advisor Success podcastKitces & Carl podcastBuckingham Strategic WealthTime Management and Productivity"Resolving the Paradox—Is the Safe Withdrawal Rate Sometimes Too Safe?" by Michael Kitces, kitces.com, May 6, 2008."To Roth or Not To Roth," by Michael Kitces, kitces.com, May 2009.Jeffrey LevineInoreaderJoshua BrownBarry RitholtzTadas Viskanta"Maximizing Your Productivity by Leveraging Your Time Not Your Technology, With Patty Kreamer," Financial Advisor Success podcast, kitces.com, June 15, 2021."7 Big Rocks—The Productivity System," by Stephen Covey, youtube.com, Dec. 27, 2013.Advice Business"Financial Advisor Fee Trends and the Fee Compression Mirage," by Derek Tharp, kitces.com, Feb. 8, 2021."The 3 Domains of Financial Advisor Value: Why Human Advisors Continue to Thrive Amid Competition From Robos," by Adam Van Deusen, kitces.com, May 23, 2022.Direct Indexing and Taxes"The Four Types of Direct Indexing and Technology Solutions for Advisors," by Michael Kitces and Adam Van Deusen, kitces.com, Feb. 16, 2022."Why Tax-Loss Harvesting During Down Markets Isn't Always a Good Idea," by Ben Henry-Moreland, kitces.com, July 13, 2022."Financial Advisor Trends in Constructing Mutual Fund vs. ETF Investment Portfolios," by Michael Kitces, kitces.com, July 25, 2018.ParametricAperio"What This Week's Market Volatility Teaches About Making Customized Portfolios for Every Client," by Michael Kitces, kitces.com, Feb. 8, 2018."Kitces & Carl Ep 65: Handling Clients Who Bring Their Own 'Hot' Investment Ideas," Kitces & Carl podcast, kitces.com, July 29, 2021."10 Key Performance Indicators for Financial Advisory Firms to Compare With Industry Benchmarking Studies," by Ben Henry-Moreland, kitces.com, March 28, 2022.

Pathway Church
IDENTITY STRUGGLE

Pathway Church

Play Episode Listen Later Aug 21, 2022 60:10


IDENTIFIED: IDENTITY STRUGGLE Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post IDENTITY STRUGGLE appeared first on Pathway Church of Longview Texas.

The Promise Church
"EVEN IF" FAITH | Pastor Luke

The Promise Church

Play Episode Listen Later Aug 21, 2022 45:16


LONGVIEW CAMPUS | Pastor Luke Donald shares how our faith and our lives come from the foundation of Jesus and not our circumstances.

Building Competitive Advantage in a Sustainable World
The Long View and Sustainability with Mark Preston

Building Competitive Advantage in a Sustainable World

Play Episode Listen Later Aug 18, 2022 31:04


In this episode of the Building Competitive Advantage in a Sustainable World podcast, David Young — BCG Henderson Institute Fellow researching Sustainable Business Model Innovation — interviews Mark Preston, Executive Trustee and Chief Executive at Grosvenor. Grosvenor is a global privately held trustee-owned organization whose operations span urban property, food and AgTech, rural estate management, and support for philanthropic initiatives. The firm's history dates back over 340 years and currently manages over £11 billion in assets under management across its portfolios. Beneficial ownership of the firm remains with the Grosvenor family, the Duke of Westminster being the primary beneficiary. Mark's three-decade-long career at Grosvenor has spanned continents, taking him from the UK to Hong Kong and San Francisco, before returning to the UK in 2006 to head up Grosvenor's property business as Chief Executive. David and Mark discuss how Grosvenor's unique legacy and governance structure has facilitated managerial decision-making from a long-term perspective on not only financial returns but sustainability and stakeholders as well. In the latter half, they discuss how Grosvenor made the pivot to new lines of business beyond real estate, and where the frontier of sustainable business model innovation is today. *** About the BCG Henderson Institute The BCG Henderson Institute is the Boston Consulting Group's think tank, dedicated to exploring and developing valuable new insights from business, technology, economics, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration, sign up to receive BHI INSIGHTS, our monthly newsletter, and follow us on LinkedIn and Twitter.

Cincinnati Fan Talk
The Long View

Cincinnati Fan Talk

Play Episode Listen Later Aug 18, 2022 49:30


A #bigten preview for all! Plus, can a fan be a fan if they DIDN'T attend that school? And a very close look at a #snowfallfx question #podsincolor #cincypods --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/lp513/message Support this podcast: https://anchor.fm/lp513/support

Evolved Radio
ERP090 - Learning From Adversity

Evolved Radio

Play Episode Listen Later Aug 17, 2022 54:01


Today on the Evolved Radio podcast I'm chatting with Kevin Crowe. Kevin is the Executive VP of Customer Experience with Long View Systems.  If you've ever heard me tell my origin story about working in an early hyper-growth company, I'm talking about my days at Long View. Even back then Kevin was a fantastic storyteller and an adventurer.  In the episode today Kevin talks about how his adventures, like doing 240-mile endurance races prepared him to tackle all kinds of challenges in his life. Including a life alternating condition. The lessons here are about challenge and adversity are useful in business and life, so please enjoy this entertaining and enlightening conversation with Kevin Crowe.

Hoop Heads
Dan Miller - San Marcos (TX) High School Boys' Basketball Head Coach - Episode 674

Hoop Heads

Play Episode Listen Later Aug 15, 2022 82:08


Dan Miller is entering his second season as the Boys' Basketball Head Coach at San Marcos High School in Texas.  He was previously the Head Men's Basketball Coach at LeTourneau University in Longview, Texas for seven years. Miller guided LeTourneau to three 20-win seasons and two NCAA Division III Tournaments while compiling an overall record of 110-64. Miller also spent time as a collegiate assistant and as a head high school boys basketball coach at Seven Lakes High School in Katy, Texas. After a stint as an assistant at the University of Southwest Minnesota from 2003-04, Miller built the program from scratch at Seven Lakes. In his nine years with the Spartans, he posted a 218-70 overall record, winning four district titles, three 30-plus win seasons, two regional appearances and seven straight playoff appearances. If you're looking to improve your coaching please consider joining the Hoop Heads Mentorship Program.  We believe that having a mentor is the best way to maximize your potential and become a transformational coach. By matching you up with one of our experienced mentors you'll develop a one on one relationship that will help your coaching, your team, your program, and your mindset.  The Hoop Heads Mentorship Program delivers mentoring services to basketball coaches at all levels through our team of experienced Head Coaches. Find out more at hoopheadspod.com or shoot me an email directly mike@hoopheadspod.com Follow us on social media @hoopheadspod on Twitter and Instagram and be sure to check out the Hoop Heads Podcast Network for more great basketball content. Grab a notepad before you listen to this episode with Dan Miller, Head Boys' Basketball Coach at San Marcos High School in the state of Texas. Website - https://www.smcisd.net/Domain/1635 (https://www.smcisd.net/Domain/1635) Email - basketballandbrew@gmail.com Twitter - https://twitter.com/brookcupps (@RattlerMBB) Visit our Sponsors! https://www.drdishbasketball.com/ (Dr. Dish Basketball) Mention the Hoop Heads Podcast when you place your order and get $300 off a brand new state of the art Dr. Dish Shooting Machine! http://www.fastmodelsports.com/ (Fast Model Sports) FastModel Sports has the most compelling and intuitive basketball software out there! In addition to a great product, they also provide basketball coaching content and resources through their blog and playbank, which features over 8,000 free plays and drills from their online coaching community. For access to these plays and more information, visit http://fastmodelsports.com (fastmodelsports.com) or follow them on Twitter @FastModel. Use Promo code HHP15 to save 15% https://www.coachingportfolioguide.com/hoopheads (The Coaching Portfolio) Your first impression is everything when applying for a new coaching job.  A professional coaching portfolio is the tool that highlights your coaching achievements and philosophies and, most of all, helps separate you and your abilities from the other applicants. Special Price of just $25 for all Hoop Heads Listeners.   Twitter Podcast - https://twitter.com/hoopheadspod (@hoopheadspod) Mike - https://twitter.com/hdstarthoops (@hdstarthoops) Jason - https://twitter.com/jsunkle (@jsunkle) Network - https://twitter.com/HoopHeadsPodNet (@HoopHeadsPodNet) Instagram https://www.instagram.com/hoopheadspod/ (@hoopheadspod) Facebook https://www.facebook.com/hoopheadspod/ (https://www.facebook.com/hoopheadspod/) YouTube https://www.youtube.com/channel/UCDoVTtvpgwwOVL4QVswqMLQ (https://www.youtube.com/channel/UCDoVTtvpgwwOVL4QVswqMLQ)    

Pathway Church
NAMING RIGHTS

Pathway Church

Play Episode Listen Later Aug 14, 2022 59:18


IDENTIFIED: NAMING RIGHTS Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post NAMING RIGHTS appeared first on Pathway Church of Longview Texas.

The Giving What We Can Podcast
#8 - Simran Dhaliwal: Funding projects to save future generations at Longview Philanthropy

The Giving What We Can Podcast

Play Episode Listen Later Aug 10, 2022 20:22


In this interview filmed at EA Global London 2022 with Simran Dhaliwal, the co-CEO of Longview Philanthropy, we talk about what Longview Philanthropy does, what problems it is working to solve, and Simran's own journey to effective giving. If you'd like to learn more about Longview Philanthropy, visit their website: https://www.longview.org/ One bonus fun fact about Longview is that all their senior staff have signed the Giving What We Can Pledge. CHAPTERS: 00:00 - Introduction to Simran and what Longview Philanthropy does 02:13 - Longview runs events to turn longtermist ideas into action 03:26 - How Simran would pitch longtermism and Longview's impact to a new audience 05:30 - What's it like to work with donors interested in the long-term future? 06:30 - How did these donors find these ideas? 07:38 - How Longview approaches helping people prioritise different causes 08:22 - What has Simran changed her mind about in the last year? 09:51 - What are some of the positive changes in effective altruism and any areas of concern? 11:00 - The comparative advantages small donors bring to the table in philanthropy 13:13 - Plans for growing Longview Philanthropy 16:55 - Media grantmaking program 18:36 - Conclusions and final thoughts CREDITS: Production: Julian Hazell & Grace Adams Videographer and video editor: Andy Brice Video editor: Marco Shimabukuro Interviewer: Luke Freeman Guest: Simran Dhaliwal

The Living Room Podcast
Composting Supremacy Culture with Dr. Robyn Henderson-Espinoza

The Living Room Podcast

Play Episode Listen Later Aug 9, 2022 54:08


Robyn has always been a reluctant leader knowing that collaboration and togetherness are a way forward, but society doesn't always value this. Robyn grew up in the piney woods of Longview, TX where they were born in the mid-70s, and then moved to San Antonio, TX for several years where they attended junior high and high school. Robyn was involved in Texas baptist churches during young adulthood and sensed a calling to be more involved in the work and life of the church, but because of the theology of the Southern Baptist Church, they were denied time and time again. In response to the exclusionary reaction they encountered, they began reading theology during this time and became mesmerized by all that they were reading. After suffering a brain aneurysm at the age of 16 the summer before their senior year in high school and surviving two full craniotomies as an emergency intervention, Robyn finished high school on time and headed off to college in West Texas on a music scholarship. After falling in love with the big questions of life and lofty ideas and never putting down theology books, Robyn gave up their music scholarship to study philosophy and theology, transferred to Hardin-Simmons University, and became a student at Logsdon School of Theology. There they found kindred spirits with two faculty members and began their journey to becoming a theologian and ethicist.   In This Episode 2:49 - What is supremacy culture and why does it need to be composted? 7:22 - Expanding language to express the full extent of supremacy culture 8:46 - Why do we need to compost supremacy culture as opposed to destroying it? 20:54 - Learning from nature on how to build equitable systems in society 30:25 - The true spirit of togetherness and nourishing relationships 36:28 - Activism through becoming embodied

The Long View
Strikes and the Labour Party

The Long View

Play Episode Listen Later Aug 9, 2022 27:49


This summer, many Brits are striking or thinking about striking. From railway workers to barristers, Post Office workers to teachers, an unusually large wave of strikes continues to build as the summer goes on. As workers struggle with the cost of living and turn to industrial action, the Labour Party is divided on how to act. As the leader of the opposition, Keir Starmer is walking a tightrope:  the Party was founded on workers rights but strikes are disruptive and unpopular with many voters. So how have Labour leaders in opposition dealt with mass strike action in the past? Jonathan Freedland takes the Long View. Contributors: Professor Steven Fielding of the University of Nottingham and political historian Anne Perkins Producer: Sarah Shebbeare Studio Manager and mixing: Tim Heffer

Pathway Church
THE TRUTH ABOUT IDENTITY

Pathway Church

Play Episode Listen Later Aug 7, 2022 60:42


IDENTIFIED: THE TRUTH ABOUT IDENTITY Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post THE TRUTH ABOUT IDENTITY appeared first on Pathway Church of Longview Texas.

The Promise Church
COMMUNING WITH GOD THROUGH SCRIPTURE | Pastor Nick

The Promise Church

Play Episode Listen Later Aug 7, 2022 42:03


LONGVIEW CAMPUS | Pastor Nick gives a window into time with the Lord in the secret place by communing with God through scripture.

Emmanuel Baptist Church of Longview
What I Hate About Romans 8:28 - Sunday AM 07/31/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 3, 2022 41:19


Listen to a message from Emmanuel Baptist Church of Longview, TX.Support the show

Emmanuel Baptist Church of Longview
I Forgive You - Sunday PM 07/31/2022 - Pastor Bob Gray II

Emmanuel Baptist Church of Longview

Play Episode Listen Later Aug 3, 2022 31:57


Listen to a message from Emmanuel Baptist Church of Longview, TX.Support the show

The Long View
Wade Pfau: The Risks of Retirement Today

The Long View

Play Episode Listen Later Aug 2, 2022 57:33 Very Popular


Our guest on the podcast today is Wade Pfau. He is professor of retirement income in the Ph.D. in financial and retirement planning program at the American College of Financial Services. He is also co-director of the American College Center for Retirement Income and RICP program director at the American College. Pfau has written several books, including his most recent, Retirement Planning Guidebook. He is a co-editor of the Journal of Personal Finance, and he publishes frequently in a wide variety of academic and practitioner research journals. He hosts the Retirement Researcher blog and is a regular contributor to Advisor Perspectives, MarketWatch, and Forbes. Pfau holds a doctorate in economics and a master's degree from Princeton University and Bachelor of Arts and Bachelor of Science degrees from the University of Iowa. He is also a Chartered Financial Analyst.BackgroundBioRetirement Planning Guidebook: Navigating the Important Decisions for Retirement Success, by Wade PfauWade Pfau booksWade Pfau blogs posts on Retirement ResearcherRetirement Income StrategiesAlex Murguia“Selecting a Personalized Retirement Income Strategy,” by Alejandro Murguia and Wade Pfau, Retirement Management Journal, Dec. 1, 2021.“Determining Your Retirement Income Style,” by Wade Pfau, financialplanningassocation.org, 2021.“Two Philosophies for Retirement Income Planning Part One: Probability-Based,” by Wade Pfau, forbes.com, Dec. 18, 2019.“What Is a Safety-First Retirement Plan?” by Wade Pfau, retirementresearcher.com.“The RISA Framework: A Systemized Approach to Personalizing Retirement Income Strategies for Clients,” by Wade Pfau and Alex Murguia, kitces.com, April 20, 2022.Inflation and Other Risk Factors“Bill Bengen: Revisiting Safe Withdrawal Rates,” The Long View podcast, Morningstar.com, Dec. 14, 2021.“Inflation, Deflation, Confiscation & Devastation—The Four Horsemen of Risk,” by Wade Pfau, retirementresearcher.com.“Wade Pfau: TIPS and Annuities Good Bets When Inflation Is High,” by Ginger Szala, thinkadvisor.com, March 31, 2022.“The Changing Risks of Retirement,” by Wade Pfau, retirementresearcher.com.“The Four Approaches to Managing Retirement Income Risk,” by Wade Pfau, papers.ssrn.com, Dec. 31, 2019.“Don't Panic on Sequence of Returns,” by Amy Arnott, Morningstar.com, May 16, 2022.Withdrawal Rates“Wade Pfau: The 4% Rule Is No Longer Safe,” The Long View Podcast, Morningstar.com, April 29, 2020.“Retiring Soon? Why the Popular 4% Withdrawal Rule May Be a Bad Idea,” by Greg Iacurci, cnbc.com, April 13, 2021.“What Is the ‘Retirement Spending Smile?'” by Wade Pfau, retirementresearcher.com.Annuities“Retirement Income Strategies With Annuities,” by Wade Pfau, retirementreseacher.com.“Wade Pfau Takes a Balanced Look at a Retirement Product Some Advisors Love to Hate,” by Ed McCarthy, thinkadvisor.com, July 22, 2022.“David Lau: Taking High Commissions Out of Annuities,” The Long View podcast, Morningstar.com, June 21, 2022.“Are Annuities Too Expensive?” by Wade Pfau, linkedin.com, July 2, 2021.Long-Term Care“Costs and Incidence of Long-Term Care,” by Wade Pfau, retirementresearcher.com.“Managing Long-Term Care Spending Risks in Retirement,” by Wade Pfau and Michael Finke, lecp.naifa.org, Jan. 7, 2020.“Hybrid Long-Term Care Insurance Policies,” by Wade Pfau, retirementresearcher.com.Other“Laura Carstensen: ‘I'm Suggesting We Change the Way We Work,'” The Long View podcast, Morningstar.com, Sept. 14, 2021.

Off The Wall
What You Need to Know About Planning Your Income After Your Career Ends with Morningstar's Christine Benz

Off The Wall

Play Episode Listen Later Aug 2, 2022 48:47


You want to be as financially unbreakable as possible, even after your career ends, right? No matter what age you “retire”, or stop working, you still need to have an income to thrive. So, how do you plan to have an income after you stop working?   In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs welcome Christine Benz, Director of Personal Finance and Retirement Planning at Morningstar, to talk about how to plan to have an income when you aren't working anymore, regardless of your age.   Listen in to learn the recommended withdrawal rate for spending, the role of asset allocation and inflation in retirement planning, and how to navigate a down market near the end of your career. Plus, you'll learn tips and tactics for making your savings last longer, refilling your cash reserve after spending it, and improving the sustainability of your post-career wealth plan.   “Most people, if they have a more vanilla asset class exposure in their portfolios, will not find easy pickings for rebalancing, which is why I think we come back to this idea of having 12 months', 18 months', 2 years' worth of portfolio withdrawals in cash to protect you in an environment like this one.” – Christine Benz   Episode Timeline/Key Highlights: [00:55] Introducing Christine Benz & The topic of today's episode [02:59] The 4% withdrawal rate explained & Is it still the right rule of thumb for retirement? [08:21] Variables, like bequest motives, that influence your personal withdrawal strategy. [11:38] When is the updated Morningstar report on withdrawal rates coming out? [12:36] Sequence of return risk & How should investors navigate a down market around the end of their full-time job? [21:14] How to refill and rebalance your cash bucket, bond bucket, growth bucket, etc. [29:03] Practical ways to make your savings last longer without compromising your quality of life. [33:55] Do I need a financial planner? [35:36] How to approach rising inflation in retirement. [42:03] Unique challenges and decisions that come with a $5 million+ portfolio.   Relevant Resources & Episodes Mentioned: Listen to The Long View podcast: https://bit.ly/3SaKsJ6 Read “The State of Retirement Income: Safe Withdrawal Rates”: https://bit.ly/3PMxwrl Your Money or Your Brain by Jason Zweig: https://amzn.to/2M96AFx The Little Book of Safe Money by Jason Zweig: https://amzn.to/3bea9Ib   About Christine Benz: Christine Benz is Morningstar's director of personal finance and retirement planning and author of 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances and the Morningstar Guide to Mutual Funds: 5-Star Strategies for Success. She's also the host of Morningstar's podcast, The Long View, where she talks to influential leaders in investing, advice, and personal finance about a wide range of topics like asset allocation and balancing risk and return.   In 2020, Christine was named to the Investment Advisor 25 (IA25), ThinkAdvisor's List of the 25 Most Influential Financial Leaders, and Barron's Inaugural List of 100 Most Influential Women in U.S. Finance.   Connect with Christine Follow her on Twitter: https://bit.ly/3PW0IvQ Connect with her on LinkedIn: https://bit.ly/3ORRBeA Buy Christine's books: https://amzn.to/3QcH8v5 Read articles written by Christine: https://bit.ly/3cZ4tSK Listen to The Long View podcast: https://bit.ly/3bmwdjZ   Connect with Monument Wealth Management Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Follow us on Twitter: https://bit.ly/MonumentWealthTW Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI Connect with us on Facebook: https://bit.ly/MonumentWealthFB Subscribe to our blog: https://bit.ly/MonumentWealthBlog   About “Off the Wall” Off the Wall is a podcast aimed at helping you answer the questions: What is the point of my wealth, and what actions can I take to accomplish that purpose? Your answers to those questions will be different from everyone else's. As Wealth Managers, we're skilled at helping our clients think through these challenging, but important, questions.    Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.    

Texas Football Today
Longview coach John King, and revisiting Tepper's bold predictions for 2021 — Episode 1,426 (August 2, 2022)

Texas Football Today

Play Episode Listen Later Aug 2, 2022


The Promise Church
STORE THE OIL | Pastor Luke

The Promise Church

Play Episode Listen Later Jul 31, 2022 51:40


LONGVIEW CAMPUS | Pastor Luke Donald shares on making a habitation in the presence of God, and how spending time with Him is the only way to receive His anointing.

Pathway Church
YOU CAN HAVE YOUR CAKE AND EAT IT TOO

Pathway Church

Play Episode Listen Later Jul 31, 2022 34:18


SUMMER AT PATHWAY: YOU CAN HAVE YOUR CAKE AND EAT IT TOO Thank you for connecting with Pathway Church online. We are so excited you are watching with us. If you're in the Longview area, join us in-person every Sunday for a brand new Worship Experience! To share what God has done in your life through Pathway Church, click here: https://mypathway.ccbchurch.com/goto/forms/121/responses/new The post YOU CAN HAVE YOUR CAKE AND EAT IT TOO appeared first on Pathway Church of Longview Texas.

The Southern Fork
Kim Shaw: Small City Farm (Charlotte, NC)

The Southern Fork

Play Episode Listen Later Jul 29, 2022 41:24


Sometimes, waiting for the conditions to be exactly right keeps us from seeing the opportunity in starting right now, even, literally, in our own backyards. But that certainly wasn't the case for one Charlotte, NC farm. Located inside the city limits off Brookshire Freeway is Small City Farm, owned and operated by Kim Shaw and Rohan Gibbs. Although it currently stands at three acres in a rolling ranch-house filled neighborhood, it was originally a ½ acre plot in the couple's South Charlotte backyard. Kim spent her childhood summers picking and packing produce for restaurants in Hilton Head, but she didn't actually set out to farm as an adult. Instead, she entered the food and beverage industry, and in the early 2000s found herself tending a garden for Chef Paul Verica while serving as the catering director for the Club at Longview. When her job was eliminated, she started growing produce and flowers full-time, and she's now grown into one of the region's most prized specialty producers, from delicate redbud flowers in the spring to Arkansas Traveler tomatoes in the summer and wide, deep green, winter collards that some of Charlotte's best chefs swear by. Small City Farm is a re-imagining of what we consider farming, and each season it proves how much creativity and ingenuity can yield.

Simon Mayo's Books Of The Year
Jonathan Freedland: The Escape Artist

Simon Mayo's Books Of The Year

Play Episode Listen Later Jul 28, 2022 48:36


Simon and Matt chat to Jonathan Freedland about his new book The Escape Artist.In April 1944 nineteen-year-old Rudolf Vrba and fellow inmate Fred Wetzler became the first Jews ever to break out of Auschwitz. Vrba's mission: to reveal to the world the truth of the Holocaust.In the death factory of Auschwitz, Vrba had become an eyewitness to almost every chilling stage of the Nazis' process of industrialised murder. The more he saw, the more determined he became to warn the Jews of Europe what fate awaited them. A brilliant student of science and mathematics, he committed each detail to memory, risking everything to collect the first data of the Final Solution. After his escape, that information would form a priceless thirty-two-page report that would reach Roosevelt, Churchill and the pope and eventually save over 200,000 lives.But the escape from Auschwitz was not his last. After the war, he kept running - from his past, from his home country, from his adopted country, even from his own name. Few knew of the truly extraordinary deed he had done. Now, at last, Rudolf Vrba's heroism can be known - and he can take his place alongside those whose stories define history's darkest chapter.Jonathan Freedland is a Guardian columnist and former foreign correspondent. He was named Columnist of the Year in 2002, Commentator of the Year in 2016 and won an Orwell Prize for Journalism in 2014. He is the presenter of BBC Radio 4's contemporary history series, The Long View, and is a regular contributor to the New York Review of Books. He is the author of 11 books, two of them non-fiction, including his first book, the award-winning Bring Home the Revolution. He has written nine thrillers under the name Sam Bourne, including The Righteous Men which was a #1 Sunday Times bestseller and has sold over 2 million copies worldwide. See acast.com/privacy for privacy and opt-out information.

The Long View
Jordan Grumet: A Hospice Doctor Shares Lessons About Work, Money, and Life

The Long View

Play Episode Listen Later Jul 26, 2022 54:05 Very Popular


Listen Now: Listen and subscribe to Morningstar's The Long View from your mobile device: Apple Podcasts | Spotify | Google Play | StitcherOur guest on the podcast today is Jordan Grumet. He is a physician and an associate medical director at JourneyCare Hospice. He also hosts the popular “Earn & Invest” podcast, which he launched after years of blogging about financial independence and wellness at the website DiverseFI.com. His latest book is called Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life. In it, he shares lessons that he has learned from interacting with patients during the last parts of their lives. He received his undergraduate degree from the University of Michigan and his medical degree from Northwestern University.BackgroundBio“Earn & Invest” podcastTaking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan GrumetDiverseFI.comFIRE MovementJim Dahle, The White Coat Investor“Jim Dahle: ‘Income Is Not Wealth,'” The Long View podcast, Morningstar.com, Sept. 2, 2020.“Coping With FIRE,” by Jordan Grumet, earnandinvest.com, June 5, 2021.Other“The Opportunity Cost Fallacy,” by Jordan Grumet, diversefi.com, June 5, 2018.

The Long View
Larry Siegel: ‘The Humblest Thing an Investor Can Do Is Buy Index Funds'

The Long View

Play Episode Listen Later Jul 19, 2022 48:24 Very Popular


Our guest this week is Larry Siegel. He is the Gary P. Brinson director of research at the CFA Institute Research Foundation. Prior to that, he was director of research for the Ford Foundation's investment division for 15 years. Siegel began his career at Ibbotson Associates in 1979. He specializes in asset management and investment consulting and has served on various boards as both an advisor and a director. He has also served on the editorial board of the Financial Analysts Journal and currently serves on the editorial board of The Journal of Portfolio Management and TheJournal of Investing. Siegel is a prolific writer and has authored several critically acclaimed books in recent years, including Unknown Knowns: On Economics, Investing, Progress, and Folly as well as Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance. He earned his Bachelor of Arts from the University of Chicago and his MBA in finance at the University of Chicago Booth School of Business.BackgroundBioUnknown Knowns: On Economics, Investing, Progress, and Folly, by Laurence SiegelFewer, Richer, Greener: Prospects for Humanity in an Age of Abundance, by Laurence SiegelResearch"Lifetime Financial Advice: Human Capital, Asset Allocation, and Insurance," by Roger Ibbotson, Moshe Arye Milevsky, and Kevin Zhu, ResearchGate, January 2007.Popularity: A Bridge Between Classical and Behavioral Finance, by Roger Ibbotson, Thomas Idzorek, Paul Kaplan, and James Xiong, Jan. 15, 2019."Bursting the Bubble—Rationality in a Seemingly Irrational Market," by David F. DeRosa, SSRN, April 29, 2021."Equity Risk Premium Forum: Don't Bet Against a Bubble?," by Paul McCaffrey, CFA Institute, April 8, 2022.The Myth of Artificial Intelligence: Why Computers Can't Think the Way We Do, by Erik Larson, April 6, 2021."Value Investing: Robots Versus People," by Laurence Siegel, larrysiegel.org, June 30, 2017.Endowments and Investing Lessons"Don't Give Up the Ship: The Future of the Endowment Model," by Laurence Siegel, larrysiegel.org, April 7, 2021."Where's Tobin? Protecting Intergenerational Equity for Endowments: A New Benchmarking Approach," by M. Barton Waring and Laurence Siegel, larrysiegel.org, April 21, 2022."Debunking Nine and a Half Myths of Investing," by Laurence Siegel, larrysiegel.org, March 12, 2020.Inflation"Protecting Portfolios Against Inflation," by Eugene Podkaminer, Wylie Tollette, and Laurence Siegel, The Journal of Investing, April 2022."The Novelty of the Coronavirus: What It Means for Markets," by Laurence Siegel, larrysiegel.com, April 1, 2020."Will Demographic Trends Drive Higher Inflation and Interest Rates?" by Laurence Siegel, larrysiegel.com, Feb. 10, 2021.Other"Cliff Asness: Value Stocks Still Look Like a Bargain," The Long View podcast, Morningstar.com, May 31, 2022."Tom Idzorek: Exploring the Role of Human and Financial Capital in Retirement Planning," The Long View podcast, Morningstar.com, June 7, 2022.TranscriptJeff Ptak: Hi, and welcome to The Long View. I'm Jeff Ptak, chief ratings officer for Morningstar Research Services.Christine Benz: And I'm Christine Benz, director of personal finance and retirement planning for Morningstar.Ptak: Our guest this week is Larry Siegel. Larry is the Gary P. Brinson director of research at the CFA Institute Research Foundation. Prior to that, he was director of research at the Ford Foundation's investment division for 15 years. Larry began his career at Ibbotson Associates in 1979. He specializes in asset management and investment consulting and has served on various boards as both an advisor and a director. He has also served on the editorial board of the Financial Analysts Journal and currently serves on the editorial board of The Journal of Portfolio Management and The Journal of Investing. Larry is a prolific writer and has authored several critically acclaimed books in recent years, including Unknown Knowns: On Economics, Investing, Progress, and Folly as well as Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance. Larry earned his Bachelor of Arts from the University of Chicago and his MBA in finance at the University of Chicago, Booth School of Business.Larry, welcome to The Long View.Laurence Siegel: Thank you.Ptak: Thank you so much for joining us. We're really excited to chat with you. I wanted to start with your early career. You worked for Roger Ibbotson early in your career. In fact, you were Ibbotson's first employee if I'm not mistaken. Talk about Roger's influence on you and more broadly, the impact he has had on our understanding of markets and investing.Siegel: Roger was not only my first boss, he was my first finance professor at the University of Chicago. So, I got fed the Ibbotson—and to give credit where it's due, to Sinquefield—view of the markets early. I was 21 years old. And I would describe that view as that asset classes are what's important; that security, individual securities, are best viewed as components of asset classes, although when you get involved in the business, you realize that you have to understand the market at the security level, too; and that long-term performance is very strongly in favor of equities. So, at the time, pension funds, who were the main customers for Ibbotson Associates' work, had relatively little in equities, and one of our missions was to improve the returns of those funds and thus for the sponsors and the employees by holding more equities. This was in the early ‘80s. I was hired in 1979. So, you can see that was a good strategy.Benz: So, sticking with your background in your early career, you think young professionals should have a grounding in the humanities and liberal arts. Why is that?Siegel: Well, not every single one needs to, but the ones who are going to rise to the top in the business need a grounding in the common cultural heritage of the human race, and that's given by humanities and social sciences that the liberal arts broadly construed. Investors invest in businesses or governments, but mostly businesses, and businesses exist to serve the needs and wants of people, an ever-changing group of people around the world. So, without a deep understanding of human affairs—in other words, of the why of business—young investment professionals are likely to fall into some intellectual traps: short-termism, geographically narrow thinking, where you only think about your own country, and a bunch of other well-documented behavioral biases—you shouldn't do that.Ptak: Maybe a dumb question to follow up on that: Why doesn't the market do a better job of creating incentives to ensure that younger professionals—let's talk about those who are heading into finance and in investing in particular—that they have a liberal arts background and they're able to better avoid some of those traps? Why haven't those incentives really taken shape and why is it still so typical to see this procession of MBAs and people with the traditional finance background dominating finance and investing?Siegel: Well, if you're as old as me, I'm 68, you have observed that it used to. The market, when I was getting out of school, was in a very different position. There weren't many MBAs. It was an unpopular decision to go to business school. And most of the people who were accepted in business school had an Ivy Plus background where a liberal arts education is required in order to graduate. By Ivy Plus I mean the University of Chicago, Stanford, Northwestern, places like that, plus the Ivy League. So, this staffed the investment business with a fairly broadly educated group of people. What happened in the next 40 years is that business got too big. And the MBA programs mushroomed from a little specialty of a dozen or two dozen schools to something that everybody felt they had to get in order to get a job. So, it just became more of a trade school degree rather than an academic degree. And I'm sorry if I'm offending anybody here, but that's the way I see it. And the investment business became more of a trade. So, the market became less efficient, I think, because it just got so big that it had to pull in a lot of different people, including people who had specialized early because they wanted to be in finance because they were seeing people in finance made a lot of money.Benz: Speaking of specialization, do you think that the only way to truly specialize is to have had a generalist humanistic education first? In other words, are the most successful specialists people who trained as generalists first and is there any evidence for this?Siegel: I think there is among CEOs and maybe CIOs, chief investment officers. The greatest businesspeople in the world have generally had a pretty broad background and a lot of them started, the legend is in the mail room, but they may have started in engineering, accounting. They may have started in sales. Whatever they did, they found their way to the investment business through a kind of evolution over time. An organization needs foxes and hedgehogs. Isaiah Berlin, drawing on an ancient Greek story, said that there are two kinds of people of foxes who know a little about everything and hedgehogs who no one big thing. Einstein, for example, was a hedgehog. He really only cared about physics, and he was very productive. We would have a very different world without him. I am suggesting that you're better off looking for foxes, but you also want to have a few Einsteins in there, and an organization that consists entirely of foxes would be very unfocused and would be more like a college dorm than a business.Ptak: Wanted to shift and talk about something that seems like it's been an awfully short supply lately, which is optimism. You wrote a book called Fewer, Richer, Greener, evincing optimism about the global economy and humanity in general. Have you always been an optimistic person? Or has it gone back and forth or been situation dependent?Siegel: I've always been an optimistic person in terms of my intrinsic biases. I do know enough economic history and regular history to know that living conditions have improved so much in the last 250 years, and actually in the last 50, that you'd be kind of crazy to deny that things have improved. This is a bad year and a bad decade. And it's very easy to become pessimistic when you read the news or check the stock market or look at the world situation with wars and so forth. But underneath the surface of all this chaos and negativity, technology is continuing to advance at an amazing rate of speed. And what we really rely on for economic growth is improvements in technology, where I use the word technology to mean it very broadly. Technology is not just the gadgets or computing power. It's biology. It's social technology—my ability to gather together a bunch of people in a Zoom meeting from all over the world and have a board meeting. And as this technology has grown in the broad sense, we have made our lives much easier; work has gotten easier. We do less of it. The 80-hour work week has now become a specialty of doctors, lawyers, and CEOs. Coal miners—my father-in-law was a coal miner and he worked 80 hours a week in a coal mine when they let him. He would have preferred to work 40, but he needed the money. So, we have an economy in which we produce an awful lot without doing all that much, frankly. We have probably the easiest lives of any population that's ever existed.Benz: Optimism seems like one of those secret weapons in investing, in finance in that if you're optimistic, you're more likely to stick with it, stick with your plan, and markets have tended to reward people who have stuck with it over the longer term. But it's hard to be optimistic about the long term given how unknowable things are. So, is the equity-risk premium compensation for subjecting ourselves to that unknowability?Siegel: Yes. There are two kinds of risks. One is fluctuations in asset prices. We all know what that is. The market just went down 20% or 25%, and we're feeling it. And we might forget this, but it went down 34% in a month in the spring of 2020, which is a profound dislocation in the markets. And a few months later, we forgot it. The other kind of risk is actually more profound, and it's the possibility that our general expectations for assets are wrong. And if you look back, equities have returned about real 7%, 7% plus inflation. Going forward, it's pretty unlikely that they're going to do that over the next 20 or 30 years just because of the high prices. Even if economic growth were as rapid in the future as it was in the past, you want to pay less rather than more for the stocks. So, right now, they're selling at a premium to their historical average. That conventional asset-allocation input of equities generate 6.7% or 7% real is almost certainly too optimistic, and we've got to do what Jack Bogle said, which is budget for it. We can't all earn alpha and earn a higher return, because the net alpha in the market is 0, so we would all be trying to take it away from somebody else. We have to budget for lower returns.When you look at the bond market, it's even worse. Bonds seem to be priced to yield about real 0%  to real 1%. That's much lower than the historical average, about half the historical average.Ptak: You got that right. It looks like real yields across the yield curve 49 to 99 basis points as of yesterday, which would be July 11, so a pretty paltry real yield. I did want to, if I may, stick with the general topic of optimism and its nexus with investing, talk about that in the context of value investing. I sometimes wonder if value investing pays off because it's so repulsive over long stretches that it's almost impossible to be optimistic. That does, though, raise questions about the implications for its practical usability. For instance, if investors are likely to give up on it because they do find it so repulsive when it underperforms growth as it had done until relatively recently, they might miss out on some of that payoff, which can come in bunches. Or do you think that's off base? Do you think that value investing really is usable, you just have to stick with it long enough?Siegel: I think that value investing is usable. But you shouldn't concentrate your whole portfolio in it. What we've seen is that the pendulum has swung between value and growth in very long cycles and large cycles where value does much better or much worse for the entire time that data are available. Fama and French did this back to 1927 and you get these five- to 15-year swings, which is so long that people give up on either value or growth at exactly the wrong time. So, in 2007, value had outperformed massively, and it was a great time to buy growth stocks because we were just about to enter not a tech bubble but a period of tech innovation that produced huge returns for a decade and a half. Anybody who went against the grain, anybody who went against the tide and overweighted growth stocks did much better than the market from 2007 until a year or two ago. Now people are saying, only growth works, so value is disgusting. And the more disgusted you are, the more likely it is to work. I would overweight value right now, but not all the time.Benz: I wanted to ask about intuition. It's something that tends to be greatly valued in everyday life, but it can lead us astray when it comes to investing. For example, in March 2020, which you referenced earlier, few of us expected the great snap back in the markets because intuitively we knew the pandemic would be bad for humanity. Do you think intuition was a better model for investing before markets became so efficient or has it never really worked?Siegel: Well, informed intuition, if you've spent a lifetime in, let's say, engineering and you know something about the way that computers are put together or the internet is put together or something, you might have had the intuition that this was going to be a profound change in the way everybody did everything and you bought those stocks. But the problem is that most people who bought the stocks in the first tech wave, in the 1990s, bought them without knowing anything about the individual companies. They were right about the technology; they were wrong about the companies. So, you would now have a portfolio of AltaVista and Netscape and AOL and a bunch of other companies that had promised but they were just outcompeted by somebody else. So, I would rather hang my hat on analysis than intuition unless you just happen to be one of those people with special inside knowledge but that is obtained legally. But most people who think they have inside knowledge don't. So, I would try to avoid relying on intuition too much.Ptak: Wanted to shift and talk about your role at the CFA Institute. You have a lot of experience assessing research proposals in that role. What are the best pieces of research have in common based on your experience?Siegel: Well, they draw heavily on theory to make practical recommendations that can be implemented in the short to medium term. And going back to Roger Ibbotson, we published a piece in 2007 on lifetime financial advice that came from Roger with several colleagues. We are about to publish, but have not yet received the manuscript, the second installment of that from Paul Kaplan, Tom Idzorek, and a third author whose name I forget, and that will come out later this year or early next year. So, even though they're 15 years apart, the Ibbotson people have an integrated theory of investing insurance, annuities—all these different tools in order to provide people with a lifetime income that's secure and yet has the room for adding value through either asset allocation or security selection alpha. So, that's the kind of research I like most. We sometimes have also done pieces that step outside of the box of the Financial Analysts Journal or the Journal of Portfolio Management -type of research and look at a broader set of issues—for example, geopolitics, demography. There was a beautiful piece by David DeRosa on bubbles. He's against them. I don't know how he can be for or against bubbles. Either bubbles are or bubbles are not. But he takes the position that what we think are bubbles are mostly rational responses to circumstances and then when the circumstances change, the bubble bursts. But it wasn't a bubble; it was rational at the time. I don't know that I buy that 100%, but it sure was interesting reading his logic because he expresses it so well. So, these are the kinds of research I enjoy the most.I've also done some of my own research here. I am compiling for the CFA Institute Research Foundation a book on the equity risk premium, which was a symposium of 11 fairly famous people—Marty Leibowitz, Rob Arnott, Cliff Asness and so forth—which I led. I'm not one of the famous people, but I know them all socially, so I was able to get them to come. And I edited it with a co-editor, Paul McCaffrey, who is producing a book on that as we speak. It could come out in the next month.Ptak: I did want to ask you about what's become the new rage in investing research and portfolio management, which is combining quantitative and human-driven decisions. If you had to draw up a CFA curricula for a bot, how would it differ for the current human-based curricula? And on the flip side, how do you think the current human curricula ought to be reshaped to account for the rise of things like machine learning? Is that something you've given any consideration?Siegel: A little bit. I'm writing a book review right now for Advisor Perspectives, which is an industry newsletter, a very good one. And the review is of a book by Erik Larson that's called The Myth of Artificial Intelligence. I'm giving it a good review, so you can see where I'm going to come out. I believe that machine learning is a real thing. Machines can be programmed to learn, and that's a valuable tool in investment management. But when you step beyond that to the idea of artificial general intelligence, I think it's an illusion caused by very fast computers, very big data and very clever programmers who want to create that illusion. So, we have had 300 million years of evolution—not as human beings obviously but as animals—to develop a set of connections in our brains that actually are intelligent. Yet intelligence in the sense that we are talking about now didn't really emerge until the last 200,000 years. So, it is rare. It is fragile. And we don't know what it is. It's like Justice Potter Stewart said about pornography: We don't know what it is, but we know it when we see it. And to imagine that we're, as human beings, of one level of intelligence, whatever we are, can build a machine in a few decades of those 200,000 years that's more intelligent than we are with all that evolutionary heritage is frankly ridiculous. These machines are going to do what we tell them to do. But if we tell them using instructions that are crafted well enough, it will give the illusion of being intelligent. When I don't know how something works, like everybody else, I tend to think it's magic. I'm driving and there are two or three cars lined up at a red light, it immediately turns green and makes the other traffic stop because it's a smart red light, and all it's doing is counting the number of cars that are waiting for it to turn and changes the cycle, changes the frequency, according to the traffic instead of operating on a fixed time cycle. But it looks like a pretty smart red light when you haven't encountered it before and you say “Gee, that's really amazing.” Well, I think that AI as we're experiencing it now is kind of the same as that. It's just a technology that other people understand because they developed it, but we don't because we don't have the knowledge and so we feel like it's magic or intelligence, whichever you want to call it.Benz: There's been a lot written about the glut of skilled, highly trained professionals in the investing field. Can you talk about the level of competition you see now versus what you saw earlier in your career?Siegel: The industry has become way too big. Every stockbroker has become a financial advisor. Ninety-six percent of them ought to tell people buy, hold, diversify, and rebalance and minimize taxes, and then they have to fill in that outline through implementation. In other words, somebody has to do it; their clients aren't qualified to do it. But they should mostly be telling people to buy index funds and to use premixed asset-allocation decisions that conform to what somebody at the headquarters has decided is optimal. To add value for an individual, what you really need to do is be more like a psychologist and a life counselor who says, “You have too much debt, you're not saving enough; you have too many houses; at some point your assets become a liability.” Or you don't have a house at all, you are a renter—you might want to consider a house as a hedge against inflation. But telling them which securities to buy or micromanaging the list of mutual funds, to me, is a fool's errand for most people.Inside the business, that's the public-facing side. Inside the business there are too many security analysts, too many asset allocators, too many broker/dealers. And I think that competition has become more and more people fighting over fewer and fewer real alpha opportunities, and that's why the competition feels so fierce. It used to be an easy business. And it's not easy anymore because the market is more efficient, I guess.Ptak: Wanted to shift gears and talk about asset allocation, specifically the 60/40 portfolio. And my question for you, which is a question I think many are asking, is the 60/40 debt. It's having one of its worst years ever. But the paradox is that yields are now, albeit they're still paltry, they're now a little bit higher and valuations are a tad lower, which you'd think would boost the 60/40's future prospects. What's your take on the 60/40, Larry?Siegel: I think that it's a pretty good consensus outcome of people buying what's available in the market. If you look at the supply of securities, it has to be somewhere around 60/40 because everybody holds it, and the supply and demand have to equilibrate in the long run. But why do issuers produce that ratio? I think that the underlying reason is that for a very long period of history, bonds were a very good investment. If you didn't have 40% in bonds, you wanted to, because they were producing high real returns. And that period is roughly 1981 to 2007. It's a long time. From 1940 to 1981, bonds did terribly because interest rates were going up and up and up, and we didn't have a lot of 60/40 portfolios, but what we had was mostly 0 or 100. Institutions bought fixed income to fund their pension plans. They bought fixed income to fund if there were insurance companies. The big money was in fixed income and equities were this gravy—you sold some stocks to some rich people. And over time as the stock market went up and the bond market didn't go up, you had greater interest in equities, and the consultants who emerged from this world of pension funds settled on 60/40 as a consensus. And so, you've got what I call the standard model. The allocators picked from a list of active managers in each asset class, usually buy way too many of them, didn't have access to index funds or didn't want to buy them. And so, they compared the performance of their active managers to benchmarks, fired the underperforming ones, gave more money to the outperforming ones, and since these things tend to run in cycles, generally underperform the market. They also had to have an overall asset-allocation policy where 50/50 was the tradition that they'd been coming from, but they moved it up to 60/40 because the stock market was beating the bond market and it just stayed there. Stocks are risky. So, 70/30 or 80/20 seemed like it was too volumed. We're all human, and we do what we see the person next to us doing. I think it's really just consensus-building, although there is a supply aspect to it. You have to buy what's out there. And if we all decided to increase our allocation to equities, we couldn't. But we would just be buying them from each other. This is a point Cliff Asness made. He can usually be counted on for very good thinking.Benz: Our research has found that fund investors tend to do a really poor job of utilizing so-called liquid alternative funds. If you take the illiquidity and gates away from alternatives, do you think they can still work for individual investors in the form of liquid alternatives?Siegel: Well, the term liquid alternatives has changed over time. When I started hearing about liquid alternatives in the early to mid-90s, it meant hedge funds and to some extent managed-futures funds because the stuff they were buying was liquid, and then the illiquid alternatives were venture capital and private equity. Over time, liquid alternatives have come to mean liquid to the investor. And when you securitize an alternative investment, you've removed—so that you can trade it like a stock—you've removed the one thing that has tended to give alternative investments better returns, which is the lockup. If you can lock up somebody's money for a long time, you can take risks that don't necessarily pay off in the short run, but that may pay off in the long run. If you take that away, I would rather just invest in liquid nonalternatives, stocks, bonds, and some real estate. Although some people call real estate an alternative. It's the oldest asset class, so I'm reluctant to put it in the alternatives bucket.Ptak: Wanted to shift and talk about endowments. You spent a good chunk of your career in the endowment world. And as you know, a lot of ink has been spilled concerning debates over the endowment model. Some decried it as costly and complex, others defend it as path-breaking. What are the lessons an advisor or an individual investor should take away from the success of the endowment approach? And conversely, what are the lessons they need to unlearn, so to speak?Siegel: I'll start with the last one because it's so easy. The lesson they need to unlearn is that if David Swensen can do it, so can I. He and the people at other big endowments and foundations have access to the best funds because they come to you, you don't have to go ferret them out. The best people they can afford to hire, outstanding analysts and other chief investment officers who can make millions. And if they do lose money, they have this capability of withstanding some pain. A foundation, in particular, which doesn't have professors to pay, or buildings to maintain, or students to give scholarships to, has to pay out 5% of whatever it has at the time, so if it loses some of the assets, their liabilities go down too in a one-to-one correspondence and so, at some level, they don't care. Of course, they do care because it's always better to have more money to give away than less. But the foundation isn't going to be destroyed by a 20% decline in the market.Endowments are a little trickier because the liabilities are not so flexible. If you start paying your professors less, they will just go to another place that doesn't pay less. Students will do the same thing. But these institutions also have a lot of reserve in their fundraising ability. An ordinary individual investor doesn't have any of this backstop. If I want to raise funds, I have to work harder. I'm already working as hard as I can. And I don't have the option to reduce my liabilities by saying I'm just not going to pay them. So, individuals have to be inherently more conservative. You get older, life becomes a race against diminishing capabilities and your risk level has to go down as you get older. So, there's a lifecycle effect that institutions don't experience. So, I would say that's the main lesson is, endowments and foundations have generally done well, but they have some structural advantages over individuals. Unless you have a rich uncle—a university has a rich uncle—which is the alumni and yet that's not an unlimited resource any more than your rich uncle is. But it is a backstop for bad performance.Benz: One investing paradox is that success demands humility, but humility is a tough sell. What's the humblest thing an investor can do to boost their odds of success while also attracting clients? Is it to have a long time horizon?Siegel: Well, the humblest thing an investor can do is buy index funds. It says to the client, I don't know what stocks are going to do best, but other people collectively as a market make pretty good decisions, so I'm just going to trust them to say the prices are roughly right. And when you buy an index fund, you're making a bet that the prices are roughly right. They're obviously not exactly right. In terms of having a long time horizon, it can be humility, or it could be hubris. I can claim to have a long time horizon, but I don't know what liabilities I'm going to face tomorrow, so I better have a short time horizon with some of my investments and I could also live 30 more years, so I need to have a long time horizon with other parts of my portfolio. But the time horizon issue I don't see so much as humility versus hubris, but it's a planning tool that a lot of people don't use effectively.Ptak: One of your more popular pieces of writing in recent years was an article you wrote on investing myths. If I'm not mistaken, I think you've updated it a few times to this point, the most recent being in 2020. Why'd you write it, and how would you change it if you were to update the piece yet again today?Siegel: I wrote it because somebody in Brazil paid me to come down there and give a talk on Siegel's Nine Myths of Investing. So, when that gave me an outline I had to fill in. Most of the myths have changed over time. I've updated it every two to five years. And what would I change now? Well, first of all, you'd have to go back and look at what the myths are. I don't really think I have time to go over all of them. But the one that I would change today is that stocks and bonds are always negatively correlated, so each is a good hedge against the other. It's not true. It runs in cycles. There was a period where they were positively correlated in the ‘90s and then before that at some other time, and all of a sudden, it's back. So, with stock market down, the bond market is also down, and people say, "Diversification doesn't work." Well, first of all, nobody told you to go out and buy the longest bond. Diversification within the bond market works in the sense of holding some less-volatile, shorter-term securities. They sacrifice some yield in order to get that safety. Secondly, stocks and bonds will again be uncorrelated or negatively correlated someday. But this is not that day. And there are other assets. The one that comes to mind is the original alternative investment: cash. Right now, you're losing money in cash in real terms, because inflation is so high. But, on average, over time cash has paid a percent or so over the inflation rate. And then the other one is real estate. I keep coming back to real estate because it has become the unloved stepchild in the investment world. And other than their house, nobody has any. The last time I heard somebody talking about real estate as an investment was probably in the decade of the 2000s, and probably it was going up a lot. Then there was a crash. And the crash stuck in people's minds while real estate itself turned around and went up again. And there may yet be another crash, but it's just another asset class that should probably be in your toolkit.Other myths—I kind of went out on a limb in the last version of that article and started talking more about social and political issues. One is that we can transition to entirely green energy without disrupting the entire world economy. We can't. We either have to transition slowly, which may not be good enough, but I actually happen to think it is, because energy transitions have taken a half century or so—wood, coal, coal to oil, oil to natural gas, and so forth—and the next transition is not going to be all solar and wind. Nuclear power is going to be a vital and probably the most important part of it. So, if the myth that you're subscribing to is the, let's call it the European version, although that's not quite fair because they have plenty of nuclear power in Europe. It's not going to happen, but we're going to need all the energy we've got, because the world is getting richer fast. Growth rates in China are down to 5%. That's still huge. Indonesia is higher than that, and it's a country of 300 million people that most Americans couldn't find on a map. The energy demands are going to be huge from all these different parts of the world that are growing and becoming middle class. And so that myth is something I spent a little time on in the article and I would write more about it next time.Benz: You more or less predicted the spate of inflation we would have before it happened. In fact, one of the myths you wrote about in 2020 was that the government could borrow all it wanted without sparking inflation. What did you see then and what do you think people should be monitoring to assess how long high inflation will persist into the future?Siegel: My forecast at the time was based on basic economic history from the 1700 and 1800s, which is that when the government borrows more money than it can pay back, it's going to pay it back anyway but in cheaper dollars. And the way that you get cheaper dollars is to have inflation. Inflation is a transfer of resources, of real resources, from savers who are bondholders and cash holders, to borrowers, which in this case is the government itself. So, it's tax. So, when you have a budget—that's how government budgets, it's out of balance by a lot for a long time— you're going to have a lot of inflation, because it's the only way the government is going to be able to make those payments on the bonds. I didn't see anything in the economy other than the budget deficits. And it was so early that you could say, I was wrong. There's not much difference between being a decade and a half early and being outright wrong. So, I'll say I was wrong.What I didn't see was the supply catastrophe that came with COVID and our response to COVID. So, when you get a supply shock like the one we've just been through, prices are going to rise, and you don't even need an unbalanced government budget, you don't need budget deficits for prices to rise when there are shortages of things because by ships not being able to dock and workers not coming to work, we just have never seen anything like this. And so, I think the inflation rate will come down from these astronomical rates to something more normal, 2%, 3%, 4%, 5%, but we're not going to go back to zero to 2, because governments have over-leveraged, and deleveraging is always inflationary.Ptak: What role do you think top-down macro should play in an allocation and investing process? Obviously, it's hard to correctly make a macro bet, though we've just talked about one you did correctly make, but it's even harder to translate that into a successful investment. So, should most people just avoid macro and diversify and call it a day?Siegel: If you mean macro bets to guide your general asset-allocation philosophy, I think you should. In other words, if you believe, as I do, that global economic growth, while slowing, is going to be very large in absolute terms for a very long time. In other words, the absolute terms meaning the number of overall dollars, or whatever your currency is, generated by the world economy that you want to hold equities because bonds don't give you a claim to that growth. And they give you a very indistinct claim I wouldn't bank on it. But international investors say that when a country is growing rapidly, the currency goes up, so you get a little bit of diversification that way. But equities are much more powerful, and international equities are frankly cheap relative to the United States. So, that's a macro bet, and I'm recommending it. But again, I recommended it for a long time. I thought the U.S. was expensive. It hasn't been cheap since the 2007-08-09 period. So, you should make an evaluation of those conditions and implement it through your portfolio.In general, most Americans suffer from home country bias because the U.S. is so big that you can get a pretty diversified portfolio with just the S&P 500 actually, because that's a lot of stocks, and those are all the big caps. If you lived in Belgium, you would not be under the illusion that Belgium was the whole world. It's just you can reach the border in an hour from anywhere in the country. So, you've known since you were a little kid that there's a big world out there. We Americans just don't have that intuition. So, that's why I'm saying that international is a macro bet that is reasonable to make. Now, if by macro bets you think that you act like a hedge fund and you think that the pound is going to crash, and that oil is going to go to $70 and then back to $110. No, individual investors should not do that.Benz: People aren't very good at respectfully disagreeing these days. You're someone who seems unafraid of having a fulsome debate. Besides stepping away from social media and the internet, what are some things we can do to exchange differing views without becoming polarized?Siegel: Well, if I knew I would run for President. People have become dug in—I don't like it at all. Spend a quarter of your reading time reading points of view that you know in advance you're going to disagree with, see how that person expresses themselves and what arguments they make and trying to take their side mentally while you're reading it. Consider maybe I'm wrong, maybe they're right. If I name some names, that would be too obvious where my biases are. But I would read the moderates on the other side, because the extremists are extremists, and they overstate everything. That's about all I can think of other than be nice. If the people you care about and generally respect have different views from you, ask yourself why. It's not because they're crazy or stupid or evil. It's because they've looked at the same data in the broad sense. They've looked at the same world and come up with different conclusions. Try to think about why that might happen, and then picture them doing that to you. That's about all I have to say about that.Ptak: Well, that's great advice and I think a great way to close this conversation, which we very much enjoyed, Larry. Thanks so much for your time and insights. We very much enjoyed having you on The Long View.Siegel: Well, thank you very much.Benz: Thanks so much, Larry.Ptak: Thanks for joining us on The Long View. If you could, please take a minute to subscribe to and rate the podcast on Apple, Spotify, or wherever you get your podcasts.You can follow us on Twitter @Syouth1, which is, S-Y-O-U-T-H and the number 1.Benz: And @Christine_Benz.Ptak: George Castady is our engineer for the podcast and Kari Greczek produces the show notes each week.Finally, we'd love to get your feedback. If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com. Until next time, thanks for joining us.(Disclaimer: This recording is for informational purposes only and should not be considered investment advice. Opinions expressed are as of the date of recording. Such opinions are subject to change. The views and opinions of guests on this program are not necessarily those of Morningstar, Inc. and its affiliates. Morningstar and its affiliates are not affiliated with this guest or his or her business affiliates unless otherwise stated. Morningstar does not guarantee the accuracy, or the completeness of the data presented herein. Jeff Ptak is an employee of Morningstar Research Services LLC. Morningstar Research Services is a subsidiary of Morningstar, Inc. and is registered with and governed by the U.S. Securities and Exchange Commission. 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