Podcast appearances and mentions of mark mcgrath

Sugar Ray and Barenaked Ladies lead singers, Mark McGrath and Ed Robertson, swing by my kitchen to discuss the music industry, how their songs affected my life, and getting older. I make ‘em Chinese Chicken (of course) and we ALL sing One Week. Because, you have to. Catch them on tour TOGETHER this summer… Last Summer on Earth Tour - https://www.barenakedladies.com/tour-2 Follow Mark McGrath: https://www.instagram.com/therealmarkmcgrath Follow Ed Robertson: https://www.instagram.com/barenakedladiesmusic SUBSCRIBE so you never miss a video https://bit.ly/3DC1ICg Stream LUCKY on Netflix https://www.netflix.com/title/81713944 PERMISSION TO PARTY WORLD TOUR is on sale now: http://www.bertbertbert.com/tour For all things BERTY BOY PRODUCTIONS: https://bertyboyproductions.com For MERCH: https://store.bertbertbert.com/ Follow Me! Facebook: http://www.Facebook.com/BertKreischer Instagram: http://www.Instagram.com/bertkreischer YouTube: http://www.YouTube.com/user/Akreischer TikTok: http://www.TikTok.com/@bertkreischer Threads: https://www.threads.net/@bertkreischer X: http://www.Twitter.com/bertkreischer Text Me: https://my.community.com/bertkreischerDRUNKEN NOODLES W/ CHINESE CHICKENDrunken Noodles:Sauce:* 3 TBS oyster sauce* 2 TBS light soy sauce* 2 TBS dark soy sauce* 1 TBS rice wine vinegar* ½ TBS fish sauce* 1 TBS brown sugar* 2 TBS waterStir-Fry:* 7 ounces dried wide rice noodles* 1 TBS sesame oil* 1 brown onion* 1 TBS grated garlic* 1 carrot, julienned* 1 bunch Bok choy, chopped* 4 scallion stems, sliced* 1 firmly packed cup basil leaves* Chili oil * Crushed roasted peanuts1. Mix together ingredients for sauce.2. Cook rice noodles, then rinse with cold water before draining.3. Heat sesame oil in pan. Add onion and garlic. Add carrot, Bok choy, spring onion, noodles, and stir-fry sauce. Toss well until combined. Remove and serve with basil leaves, topping with chili oil and crushed peanuts.Yu Xiang ChickenChicken Marinade: * ½ tsp kosher salt* 3 tsp potato starch* 4 tsp Rice Wine* 2 TBS light soy sauce* 1 tsp sesame oilSauce: * 2 tsp potato starch* 2 TBS white sugar* Salt* ¼ tsp light soy sauce* 4 TBS Rice Wine* 2 TBS Chinkiang vinegar* 1 tsp dark soy sauce* 2 tsp sesame oil* 2 tsp pure chili oil* ½ cup & 4 TBS waterStir-Fry:* ¼ cup cloud ear mushrooms* ½ cup peanut oil* 4-6 TBS chopped pickled red chilis* 2 spring onions, chopped, white and green parts separated* 4 TBS minced ginger* 12 garlic cloves, minced* 1-10 fresh red chilis * 6-20 dried red chilis, snipped into ½” pieces* ½ cup sliced bamboo shoots1. Slice chicken into thin strips. Combine chicken with salt, potato starch, rice wine, light soy sauce, sesame oil, mixing well, then let marinate.2. Combine all sauce ingredients to make sauce3. Chop spring onion, ginger, garlic, fresh red chilies, and snip the dried red chilis into ½” pieces. Drain and rinse bamboo shoots.4. Bring pot of water to a boil and add sliced mushrooms and bamboo shoots boiling for 1-2 minutes then drain in fine mesh strainer and rinse with cold water.5. Heat peanut oil over high heat then add marinated chicken, stir-frying for 40 seconds. Transfer to strainer and let excess oil drip back into wok. Remove all but 3 TBS of oil from wok.6. Heat oil in wok and add pickled red chilis. Then add spring onion white and light green parts, ginger and garlic. Add fresh and dried chilies cooking for 1 minute, then add sliced mushrooms and bamboo shoots.7. Add chicken and sauce into wok. Serve and garnish with dark green parts of spring onion. Learn more about your ad choices. Visit megaphone.fm/adchoices

Sugar Ray and Barenaked Ladies lead singers, Mark McGrath and Ed Robertson, swing by my kitchen to discuss the music industry, how their songs affected my life, and getting older. I make ‘em Chinese Chicken (of course) and we ALL sing One Week. Because, you have to. Catch them on tour TOGETHER this summer… Last Summer on Earth Tour - https://www.barenakedladies.com/tour-2 Follow Mark McGrath: https://www.instagram.com/therealmarkmcgrath Follow Ed Robertson: https://www.instagram.com/barenakedladiesmusic SUBSCRIBE so you never miss a video https://bit.ly/3DC1ICg Stream LUCKY on Netflix https://www.netflix.com/title/81713944 PERMISSION TO PARTY WORLD TOUR is on sale now: http://www.bertbertbert.com/tour For all things BERTY BOY PRODUCTIONS: https://bertyboyproductions.com For MERCH: https://store.bertbertbert.com/ Follow Me! Facebook: http://www.Facebook.com/BertKreischer Instagram: http://www.Instagram.com/bertkreischer YouTube: http://www.YouTube.com/user/Akreischer TikTok: http://www.TikTok.com/@bertkreischer Threads: https://www.threads.net/@bertkreischer X: http://www.Twitter.com/bertkreischer Text Me: https://my.community.com/bertkreischerDRUNKEN NOODLES W/ CHINESE CHICKENDrunken Noodles:Sauce:* 3 TBS oyster sauce* 2 TBS light soy sauce* 2 TBS dark soy sauce* 1 TBS rice wine vinegar* ½ TBS fish sauce* 1 TBS brown sugar* 2 TBS waterStir-Fry:* 7 ounces dried wide rice noodles* 1 TBS sesame oil* 1 brown onion* 1 TBS grated garlic* 1 carrot, julienned* 1 bunch Bok choy, chopped* 4 scallion stems, sliced* 1 firmly packed cup basil leaves* Chili oil * Crushed roasted peanuts1. Mix together ingredients for sauce.2. Cook rice noodles, then rinse with cold water before draining.3. Heat sesame oil in pan. Add onion and garlic. Add carrot, Bok choy, spring onion, noodles, and stir-fry sauce. Toss well until combined. Remove and serve with basil leaves, topping with chili oil and crushed peanuts.Yu Xiang ChickenChicken Marinade: * ½ tsp kosher salt* 3 tsp potato starch* 4 tsp Rice Wine* 2 TBS light soy sauce* 1 tsp sesame oilSauce: * 2 tsp potato starch* 2 TBS white sugar* Salt* ¼ tsp light soy sauce* 4 TBS Rice Wine* 2 TBS Chinkiang vinegar* 1 tsp dark soy sauce* 2 tsp sesame oil* 2 tsp pure chili oil* ½ cup & 4 TBS waterStir-Fry:* ¼ cup cloud ear mushrooms* ½ cup peanut oil* 4-6 TBS chopped pickled red chilis* 2 spring onions, chopped, white and green parts separated* 4 TBS minced ginger* 12 garlic cloves, minced* 1-10 fresh red chilis * 6-20 dried red chilis, snipped into ½” pieces* ½ cup sliced bamboo shoots1. Slice chicken into thin strips. Combine chicken with salt, potato starch, rice wine, light soy sauce, sesame oil, mixing well, then let marinate.2. Combine all sauce ingredients to make sauce3. Chop spring onion, ginger, garlic, fresh red chilies, and snip the dried red chilis into ½” pieces. Drain and rinse bamboo shoots.4. Bring pot of water to a boil and add sliced mushrooms and bamboo shoots boiling for 1-2 minutes then drain in fine mesh strainer and rinse with cold water.5. Heat peanut oil over high heat then add marinated chicken, stir-frying for 40 seconds. Transfer to strainer and let excess oil drip back into wok. Remove all but 3 TBS of oil from wok.6. Heat oil in wok and add pickled red chilis. Then add spring onion white and light green parts, ginger and garlic. Add fresh and dried chilies cooking for 1 minute, then add sliced mushrooms and bamboo shoots.7. Add chicken and sauce into wok. Serve and garnish with dark green parts of spring onion. Learn more about your ad choices. Visit megaphone.fm/adchoices

The fifth installment of our Ask Me Anything sessions begins with the inevitable volatility of the stock market as we urge investors to remain calm amidst recent US stock declines. Similarly, we unpack the historical resilience of stock markets and offer advice for dealing with market crashes before discussing why bonds are not the best strategy for boosting returns. We examine the proposed Alberta Pension Plan, the Rational Reminder Podcast guests whose impact still ripples across PWL, how to be a PWL-style advisor, and we revisit the DFA versus Vanguard debate. We also explain why spending rules aren't for us at PWL, the relationship between the amount to withdraw and the stock/bond allocation, and alternatives for short-term horizon investing, saving, and equities. To end, we hear feedback from Atti Ilmanen as well as reviews from listeners, but before all that, Mark McGrath shares bittersweet news! Stay tuned for an episode full of reflection, strategy, and insight.   Key Points From This Episode:   (0:01:13) The inevitability of market volatility and the historical resilience of stock markets. (0:13:04) How to approach a volatile market and advice for dealing with a market crash.  (0:18:06) Why bonds are not a return-enhancing strategy. (0:21:04) A brief examination of the proposed Alberta Pension Plan. (0:25:02) Impactful guests who have influenced how we work at PWL Capital. (0:33:25) How to be a PWL-style advisor. (0:35:37) Weighing Dimensional funds (DFA) against Vanguard and others.  (0:41:57) Why spending rules aren't really our thing.  (0:44:56) The relationship between the amount to withdraw and the stock/bond allocation. (0:49:50) Exploring alternatives for short-term horizon investing, saving, and equities. (0:57:00) An important announcement from Mark! (1:02:51) The Aftershow: feedback from Antti Ilmanen, listener reviews, and final thoughts.    Links From Today's Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Episode 248: Prof. William Goetzmann: Learning from Financial Market History — https://rationalreminder.ca/podcast/248   Episode 100: Prof. Kenneth French: Expect the Unexpected — https://rationalreminder.ca/podcast/100  Episode 352: Jessica Moorhouse: Everything But Money — https://rationalreminder.ca/podcast/352   Episode 316: Andrew Chen: "Is everything I was taught about cross-sectional asset pricing wrong?!" — https://rationalreminder.ca/podcast/316  Episode 224: Prof. Scott Cederburg: Long-Horizon Losses in Stocks, Bonds, and Bills — https://rationalreminder.ca/podcast/224  Episode 284: Prof. Scott Cederburg: Challenging the Status Quo on Lifecycle Asset Allocation — https://rationalreminder.ca/podcast/284  Episode 350: Scott Cederburg: A Critical Assessment of Lifecycle Investment Advice — https://rationalreminder.ca/podcast/350  Episode 89: Wade Pfau: Safety-First: A Sensible Approach to Retirement Income Planning — https://rationalreminder.ca/podcast/89  Episode 289: Retiring Retirement Income Myths with the Retirement Income Dream Team — https://rationalreminder.ca/podcast/289  Episode 122: Prof. Moshe Milevsky: Solving the Retirement Equation — https://rationalreminder.ca/podcast/122  Episode 59: Alexandra Macqueen: Financial Economics and Annuities: Rational Planning for Retirement — https://rationalreminder.ca/podcast/59  Episode 283: When Volatility is Risk, and Introducing The Money Scope Podcast — https://rationalreminder.ca/podcast/283  Episode 351: DFA vs. Vanguard — https://rationalreminder.ca/podcast/351  Episode 254: David Blanchett: Regret Optimized Portfolios, and Optimal Retirement Income — https://rationalreminder.ca/podcast/254  Episode 152: Evaluating Systematic Equity Strategies — https://rationalreminder.ca/podcast/152  Episode 347: The Case for Index Funds — https://rationalreminder.ca/podcast/347  Episode 281: Lifecycle Asset Allocation, and Retiring Successfully with Justin King — https://rationalreminder.ca/podcast/281  Episode 315: An Update from Avantis with Eduardo Repetto — https://rationalreminder.ca/podcast/315  Alberta Pension Plan — https://www.albertapensionplan.ca/  Financial Planning Association of Canada — https://www.fpassociation.ca/  Hook — https://www.imdb.com/title/tt0102057/  Antti Ilmanen | AQR — https://www.aqr.com/About-Us/OurFirm/Antti-Ilmanen    Books From Today's Episode:    The Great Depression: A Diary — https://www.amazon.com/dp/1586489011  Narrative Economics: How Stories Go Viral and Drive — https://www.amazon.com/dp/0691182299    Papers From Today's Episode:    ‘Negative Bubbles: What Happens after a Crash' — https://ssrn.com/abstract=3038658  ‘Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice' — https://ssrn.com/abstract=4590406   ‘Financially Sound Households Use Financial Planners, Not Transactional Advisers' — https://www.financialplanningassociation.org/sites/default/files/2023-01/APR19%20Blanchett.pdf  ‘Finding and Funding a Good Life' — https://pwlcapital.com/finding-and-funding-a-good-life/ 

Young MC is a Grammy Award winning rapper and musical producer.  He is known for his hit "Bust a Move" as well as co-writing Tone Loc's biggest hits.  He is currently making new music and producing new artists, as well as performing on the "I Love the 90s" tour.  We discuss his new music, the music business, artists he's worked with and more! 0:00:00 - Intro0:00:21 - Accolades 0:01:30 - New Music & Performing 0:06:29 - Producing New Artists & Mentoring 0:11:35 - Collaborations & Performing Them Live 0:14:52 - Education & Business Sense 0:16:18 - Turning Down Michael Jackson Song 0:17:15 - Looking Back On Career0:18:52 - Different Producers 0:20:20 - Fun Catchy Vibe Style 0:21:55 - Respect of NWA 0:23:00 - We're All In The Same Gang 0:28:25 - Physical Music & Meet n Greet 0:30:15 - Casino Shows & Headlining Shows 0:32:50 - I Love the 90s Shows & Mark McGrath 0:34:40 - Drummers & Rock Connections 0:40:10 - Demos & Unreleased Songs 0:42:05 - Film, TV & Commercials 0:43:35 - Corporate Events 0:45:40 - Relationship with Vanilla Ice 0:47:30 - Dr. Dre & Evolving with Side Businesses 0:49:41 - Using A.I. in Music 0:51:15 - Remixed by Diplo 0:52:32 - Freestyle Rap 0:53:00 - Train, Flavor Flav & Public Enemy 0:54:54 - Mili Vanili & Lip Syncing 0:56:40 - Grief & Healthy Living 0:58:33 - Letting the World Know 1:01:05 - Outro Young MC website:https://youngmc.com/Chuck Shute link tree:https://linktr.ee/chuck_shuteSupport the showThanks for Listening & Shute for the Moon!

Our conversations with Professor Scott Cederburg from Eller College of Management have led to the most heated debates among our listeners! Today, Prof. Cederburg returns to discuss the changes he's made to his paper that was the foundation of previous conversations - ‘Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice'. We begin with the data setup and headline findings of the paper before Prof. Cederburg defines “domestic” and “international” as they appear in his paper, why the block bootstrap approach is vital to his work, how and why the results of his paper differ from the status quo, and the evaluation metrics he uses to compare different investment strategies. Then, we explore his optimal base portfolio, the strategy he uses to derive it, how it performs in simulated worst-case scenarios, and how it changes when ditching the bootstrap approach or changing strategies from constant spending to proportional spending. To end, we learn of the importance of including the US in international stock portfolios, how it changes when the US is viewed as special above others, the correlation between labor income and domestic stock returns, and how the reviews of academics and practitioners have changed since the first iteration of the paper until this latest edition.     Key Points From This Episode:   (0:00:00) What to look forward to in today's conversation with Prof. Scott Cederburg (0:04:49) The data setup and headline findings from his paper, ‘Beyond the Status Quo.' (0:07:01) Defining “domestic” and “international” as they appear in Prof. Cederburg's paper. (0:08:34) Why the bootstrap approach is necessary for his work.  (0:12:17) How and why the results of his paper differ from the status quo.  (0:15:11) Unpacking the evaluation metrics he uses to compare different investment strategies. (0:16:05) Exploring his optimal base case portfolio and strategy, and how it performs in worst-case simulations. (0:23:05) How the optimal allocation changes when households vary their portfolio weights. (0:27:13) What to consider when ditching the block bootstrap in time-varying optimal portfolios.  (0:29:46) Constant spending versus proportional spending: How the optimal portfolio changes. (0:30:49) Examining the sequence of returns risk.  (0:42:14) The importance of including the US market in international stock portfolios.  (0:43:40) Why the US is treated the same as any other domestic country in the paper, and how the data changes if it's viewed as special.  (0:51:40) The extent of the relationship between labor income and domestic stock returns.  (0:53:01) How leverage affects optimal portfolio results.  (1:05:20) Assessing how sensitive the paper's results are to risk aversion.  (1:06:35) How academics and practitioners have responded to this paper across all iterations.   Links From Today's Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP  Professor Scott Cederburg — https://eller.arizona.edu/people/scott-cederburg  Professor Scott Cederburg on LinkedIn — https://www.linkedin.com/in/scott-cederburg-0917b0121/  Professor Scott Cederburg on Google Scholar — https://scholar.google.com/citations?user=CZKf3WEAAAAJ  Eller College of Management — https://eller.arizona.edu/   Episode 224: Prof. Scott Cederburg: Long-Horizon Losses in Stocks, Bonds, and Bills — https://rationalreminder.ca/podcast/224  Episode 284: Prof. Scott Cederburg: Challenging the Status Quo on Lifecycle Asset Allocation — https://rationalreminder.ca/podcast/284   Vanguard — https://investor.vanguard.com/   ‘The Portfolio Size Effect and Using a Bond Tent to Navigate the Retirement Danger Zone' — https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/    Papers From Today's Episode:    ‘Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4590406     ‘Is The United States a Lucky Survivor: A Hierarchical Bayesian Approach' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3689958    ‘Risk-Free Interest Rates' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3242836

In this episode, Ben, Dan, and Mark tackle another Ask Me Anything (AMA) session, covering a wide range of investing and financial planning topics. They begin with a highly requested debate on factor investing versus market cap-weighted portfolios and unpack the theory, research, and practical considerations behind both strategies. Ben explains why he prefers factor tilts when managing client portfolios, while Dan shares his perspective on why a simple market cap-weighted approach is more practical and sustainable. Then, they delve into the drivers of investor behaviour, common mistakes investors make, and powerful strategies to help investors overcome biases and improve their decision-making abilities. They also discuss the role of bonds in a portfolio, whether international bonds offer additional benefits, key retirement planning strategies, and the impact of sequence-of-returns risk. Join the conversation to discover how large corporations manage cash reserves, unpack the SPIVA Canada 2024 report findings, and explore the continued struggles of active management. Tune in now!   Key Points From This Episode:   (0:01:06) Ben explains why market cap weighting is a valid strategy but prefers factor tilting. (0:06:58) Dan shares why he prefers market cap weighting approaches over factor tilting. (0:13:45) Hear how client expectations shape their investment approaches. (0:18:12) How to overcome the psychological challenges of investing and reframe your mindset. (0:22:02) The role of bonds and fixed income in a portfolio and sequence of withdrawal risk. (0:36:19) Recommendations for factor ETFs and the home biases associated with them. (0:39:48) Unpack the 4% rule for retirement planning and amortization-based withdrawals. (0:47:47) Expected returns for a “millennial” portfolio and why 10% annualized is unrealistic. (0:52:38) Find out if PWL would ever open a branch in the US and about their US partnerships. (0:53:20) Explore how corporate cash management differs from typical household investing. (0:55:59) Uncover the value of bonds and the common misconceptions surrounding them. (1:00:40) Learn about the pros and cons of investing in stocks and ETFs. (1:09:13) Aftershow: the SPIVA Canada 2024 report, activate management struggles, updates, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/ Dimensional (DFA) vs. Vanguard — https://www.youtube.com/watch?v=JfknibBat2A Episode 93: Cliff Asness from AQR — https://rationalreminder.ca/podcast/93 Episode 135: William Bengen — https://rationalreminder.ca/podcast/135 Episode 297: Do Stocks Return 10-12% On Average? — https://rationalreminder.ca/podcast/297 Episode 340: Ben Mathew — https://rationalreminder.ca/podcast/340 Episode 343: How to Choose an Asset Allocation — https://rationalreminder.ca/podcast/343 Credit Suisse Data — https://marketdata.credit-suisse.com/pmdr/en/index.html#/ SPIVA® Canada Year-End 2024 — https://www.spglobal.com/spdji/en/spiva/article/spiva-canada/ The Wealthy Barber Podcast — https://thewealthybarber.com/podcast/   Books From Today's Episode:   Wealthier — https://www.amazon.com/Wealthier-Investing-Field-Guide-Millennials-ebook/dp/B0CX2VD1CW

Get ready to turn up the volume because this week, the legendary Mark McGrath is in the house! The Sugar Ray frontman, pop culture icon, and ultimate ‘90s heartthrob joins the LadyGang for a wild ride through his rockstar journey—think dreams coming true, epic tour stories, and, of course, those signature frosted tips. From backstage antics to career-defining moments, Mark spills the tea on the highs, lows, and totally unexpected twists of his career. Plus, he's gearing up to headline at LADYWORLD in September, and trust us—you do not want to miss it. So grab your backstage pass and get ready for an episode packed with music, memories, and Mark McGrath magic. Let's rock! We have deals for YOU!! Happy Mammoth: Need help with your hormones! Get 15% off at HappyMammoth.com and use code LADYGANG Old Navy: Shop Old Navy's StudioSmooth collection in store or online at OldNavy.com Cover Girl: Superboost your lashes with NEW Lash Blast Supercloud Mascara! Only from Easy, Breezy, Beautiful COVERGIRL. http://bit.ly/3Ez5HC9 Progressive: Wanna save on car insurance? Visit Progressive.com to see how much you can save!

National Peanut Lovers day.  Entertainment from 2017.  1st internet domain name registered, Maine became 23rd state, Germany get Czechoslovakia.  Todays birthdays - Andrew Jackson, Carl Smith, Judd Hirsch, Mike Love, Sylvester Stewart, Dee Snider, Brett Michaels, Mark McGrath, Mark Hoppus, Eva Longoria, will.i.am.  Julius Caesar died.Intro - Pour some sugar on me - Def Leppard    http://defleppard.com/Peanuts - Little Joe & the ThrillersShape of you - Ed SheeranBetter man - Little Big TownBirthday - The BeatlesBirthdays - In da club - 50 Cent    http://50cent.com/Hey Joe - Carl SmithI get around - The Beach BoysThank You (Faletteme be mice elf again) - Sly & the Family StoneI wanna rock - Twisted SisterNothin but a good time - PoisonFly - Sugar RaySmall Things - Blink 182I got a feeling - Black Eyed PeasExit - Its not love- Dokken    http://dokken.net/

Is the government manipulating inflation data? Why do so many people feel like their personal costs are rising faster than official inflation numbers suggest? In this episode of the Rational Reminder Podcast, we dive deep into one of the most debated and misunderstood economic topics: inflation. Today, we are joined by Andrew Barclay, an economist and senior analyst in the Consumer Price Division at Statistics Canada, to discuss everything you need to know about inflation and the Consumer Price Index (CPI). Statistics Canada is Canada's national statistical agency dedicated to producing accurate, relevant, and timely data to help Canadians better understand their country. In our conversation, we unpack how inflation and the CPI are calculated and why it is so important. We explore the controversy around CPI calculations and the influence of inflation on government benefits, tax brackets, and the overall economy. Andrew also addresses scepticism and conspiracy theories about government inflation reporting, uncovers drivers of the perception gap, and explains how Statistics Canada ensures the accuracy and integrity of its data. Join us to hear the real story behind CPI and inflation with Andrew Barclay!   Key Points From This Episode:   (0:00:00) Background about Andrew and what inspired today's topic.  (0:05:33) Find out why measuring inflation is important and how the CPI is calculated.  (0:10:08) What goes into the CPI basket and how frequently the contents are updated. (0:12:42) How consumer choices impact inflation and how 'shrinkflation' is accounted for. (0:15:43) Learn how quality adjustments are accounted for in the CPI and why they matter.  (0:19:01) Scepticism surrounding quality adjustments and how the CPI adapts to crises. (0:25:21) The role of grocery price tracking and why Canada uses a single CPI measure. (0:28:08) Explore the idea of personal inflation and why it is usually different to the CPI. (0:31:10) The difference between home prices and housing costs and how they are calculated. (0:35:41) Hear how Statistics Canada's approach for housing compares to other methodologies. (0:41:15) Perceived inflation versus actual inflation and drivers of the inflation perception gap. (0:51:58) Statistics Canada's method of dealing with the perception gap and ensuring quality.  (0:55:51) Uncover the most criticized indexes and how Statistics Canada includes feedback. (1:01:52) Andrew's message for those who do not trust the CPI and his definition of success.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Andrew Barclay on LinkedIn — https://www.linkedin.com/in/andrew-barclay-a38b6035/ Statistics Canada — https://www.statcan.gc.ca/ Canadian System of National Accounts | 'Catalogue of products' — https://publications.gc.ca/Collection/Statcan/13F0029X/13F0029XIE2000001.pdf Bank of Canada — https://www.bankofcanada.ca/ Canadian Real Estate Association (CREA) — https://www.crea.ca/ Episode 323: Renting Versus Buying a Home in Canada 2005-2024 — https://rationalreminder.ca/podcast/323 Surveys of Consumers | University of Michigan — https://data.sca.isr.umich.edu/ Statistics Canada | The Daily — https://www150.statcan.gc.ca/n1/dai-quo/index-eng.htm   Books From Today's Episode:   The Courage to Be Disliked — https://www.amazon.com/Courage-Be-Disliked-Phenomenon-Happiness/dp/1501197274   Papers From Today's Episode:  'The naked eye versus the CPI: How does our perception of inflation stack up against the data?' — https://www.statcan.gc.ca/o1/en/plus/256-naked-eye-versus-cpi-how-does-our-perception-inflation-stack-against-data

I'm thrilled to share some incredible insights from my latest episode featuring Mark McGrath, the Chief Learning Officer at AGL and a former captain in the United States Marine Corps. This conversation is packed with wisdom on leadership, decision-making, and thriving in complex environments. Here are some key takeaways:

Are index funds the best investment strategy for most investors? In this episode of Rational Reminder, Benjamin Felix, Dan Bortolotti, and Mark McGrath explore why low-cost index funds should be the primary investment strategy for most people. They explain how index funds evolved from a niche concept to a widely accepted strategy and outline their six key benefits. Learn about the fees associated with index funds, why index funds outperform most actively managed funds, and how to avoid the risks of picking individual stocks. They also explore academic research on long-term mutual fund performance, the persistence (or lack thereof) in active management, and the dangers of alternative indexing schemes. Discover how behaviour impacts investment decisions and why a globally diversified portfolio is crucial. Finally, in the aftershow, Ben shares an update regarding his health and listener feedback from the Rational Reminder community. Join the conversation and uncover why index funds are the best investment strategy and how to leverage them effectively to maximize your portfolio for long-term gains. Tune in now!   Key Points From This Episode:   (0:01:58) Outline of today's topic and why index funds should be everyone's main investment strategy. (0:05:10) Index fund fundamentals, market cap weighting, and why not all ETFs are index funds.  (0:10:03) Learn about the transition of index funds into mainstream finance and their low-fee advantages. (0:13:30) Linking fees to index performance and why lower fees gives them an advantage over managed funds. (0:19:50) The general awareness about index funds and what impact the lack of diversification has on actively managed funds. (0:26:35) Explore critical research comparing the returns on investment between index funds and actively managed funds. (0:33:32) Unpack why the size of the active management industry matters and common misconceptions surrounding the long-term returns of mutual funds. (0:42:26) Discover why some fund managers do well and how sector-specific performance influences stock returns. (0:48:28) Unpack why average returns are better than beating the market and what makes index funds tax efficient.  (0:51:08) Find out what makes index funds easy to use and how this results in higher returns in the long term.  (0:55:25) How index funds are consistent with foundational finance theory and why thematic ETFs and sector-specific index funds should be avoided. (1:05:40) The aftershow: Ben shares a personal health update, Rational Reminder news, and a request for listener AMA questions.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/ Episode 54: Dr. David Blitzer — https://rationalreminder.ca/podcast/54 Episode 124: Prof. Lubos Pastor — https://rationalreminder.ca/podcast/124 Episode 133: Adriana Robertson — https://rationalreminder.ca/podcast/133 Episode 220: Jonathan Berk and Jules van Binsbergen — https://rationalreminder.ca/podcast/220 Episode 244: Charles D. Ellis — https://rationalreminder.ca/podcast/244 Episode 268: Itzhak Ben-David — https://rationalreminder.ca/podcast/268 Episode 302: Michael Green — https://rationalreminder.ca/podcast/302 Episode 346: Hendrik Bessembinder — https://rationalreminder.ca/podcast/346 Coffeezilla — https://www.youtube.com/@Coffeezilla Coffeezilla: Investing for Idiots — https://www.youtube.com/watch?v=hoGm61I52YQ YCharts — https://ycharts.com/   Papers From Today's Episode:    'The Arithmetic of Active Management' — https://www.tandfonline.com/doi/pdf/10.2469/faj.v47.n1.7 'Sharpening Sharpe's Arithmetic' — https://www.tandfonline.com/doi/full/10.2469/faj.v74.n1.4 'Mutual Fund Flows and Performance in Rational Markets' — https://www.journals.uchicago.edu/doi/abs/10.1086/424739 'Why Indexing Works' — https://onlinelibrary.wiley.com/doi/abs/10.1002/asmb.2271 'Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks' — https://www.tandfonline.com/doi/abs/10.1080/0015198X.2023.2188870 'The Performance of Mutual Funds in the Period 1945-1964' — https://www.jstor.org/stable/2325404 'On Persistence in Mutual Fund Performance' — https://doi.org/10.1111/j.1540-6261.1997.tb03808.x 'Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk' — https://onlinelibrary.wiley.com/doi/full/10.1111/j.1540-6261.1964.tb02865.x 'Passive in name only: Delegated management and index investing' — https://heinonline.org/HOL/LandingPage?handle=hein.journals/yjor36&div=20&id=&page=

This episode is long and slick and olive green! Quinn & Charlie are here from The Give 'Em Hell Boys, longtime friends of DNP. We decided to go back in time to the beginnings of band Sugar Ray. Mark McGrath and friends started as Shrinky Dinx, doing heavier music in the early 90's, then changed it up a wee bit. Are they sellouts? We also talk Howard Stern and "The Psychedelic Bee", Golden Girls, and A LOT of yacht rock.

A very exciting, fun, positive, instructional, inspiring Video podcast interview with Bret Michael's bass player Stormin' Norman Voss on the Charron Zone Music Business podcast with Tim Charron . FOLLOW NORMAN at https://www.facebook.com/norman.voss.50 Norman and Tim talk about: Performing with Bret Michaels The rock band Poison Relationship building in the music business How to be a successful guitar player or bass player KISS, Mark McGrath of Sugar Ray, Dee Snider of Twisted Sister, 80 Rock bands, Don Felder , Journey , Lou Reed, Marketing and social media in the music business Normans advice to all musicians

On this week's episode of The Eddie Trunk Podcast - Eddie brings you an interesting conversation with Mark McGrath who opened up about his love of rock and metal, how he got started in music - and sharing a story about how Howard Stern helped Sugar Ray take off - and a lot more rock talk that goes all over the place touching everything from Snot to The Doobie Brother to Papa Roach to Jeff Beck and more! Catch Eddie Trunk every M-F from 3:00-5:00pm ET on Trunk Nation on SiriusXM Faction Talk Channel 103.And don't forget to follow Eddie on Twitter and Instagram!Follow the link to get your free 3-month trial of SiriusXM: http://siriusxm.com/eddietrunk Find all episodes of Trunk Nation: https://siriusxm.com/trunknation

Did you know that just a handful of stocks drive nearly all of the stock market's long-term gains? In this episode, we sit down with Hendrik Bessembinder to discuss his groundbreaking research on why most stocks fail to outperform Treasury bills and how a small fraction of stocks generate the most long-term market returns. Hendrik is a Professor in the Department of Finance at Arizona State University whose research focuses on market design, trading, and long-term investment performance across stock, foreign exchange, fixed income, futures, and energy markets. In addition to his academic contributions, Professor Bessembinder has over 25 years of consulting experience, advising major firms, financial markets, and government agencies. In our conversation, we delve into the findings of his research and find out how a small fraction of stocks generate the majority of long-term returns. We explore why traditional investment strategies often overlook the impact of skewness, the impacts of broad diversification and passive investing, and why active fund managers struggle to beat the market. Discover why chasing past returns can lead to costly mistakes, his latest research on 'sustainable returns', what type of industries have the highest stock returns, common investing mistakes, and more. Join us to uncover the surprising realities of stock market returns and how you can build a portfolio that stands the test of time with Professor Hendrik Bessembinder. Key Points From This Episode:   (0:03:54) Explore Hendrik's research on long-term stock returns and how most returns come from a small group of stocks. (0:08:30) Learn how company size interacts with the skewness in stock returns and what it means for individual investors. (0:11:39) Considering fundamentals in stock returns and the implications of skewness for measuring portfolio performance. (0:15:42) Unpack how he used bootstrap simulations in his paper and the performance of stock returns versus Treasury bills. (0:19:01) Find out the proportion of US firms responsible for dollar wealth creation and why diversification is essential for long-term stock returns. (0:25:23) Navigating volatility in the market and why it is difficult to identify skilled managers in time to leverage the market. (0:28:00) Compare the performance of US stocks versus global stocks and what is driving their performance. (0:32:04) What the findings of his research means for financial planners and individual investors.  (0:35:35) Uncover which US firms generated the highest returns and what type of industries these companies are in. (0:42:07) Hear about the long-term performance of US mutual funds and how investor behaviour contributes to it. (0:49:54) How passive investing and index funds have reduced the contributions of actively managed mutual funds and the lessons for investors. (0:55:48) Discover Professor Bessembinder's broader research interests and his definition of success.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Professor Hendrik Bessembinder — https://search.asu.edu/profile/2717225 Arizona State University — https://www.asu.edu/ KRIS — https://www.kris-online.com/ Professor Hendrik Bessembinder papers on SSRN — https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=667 SPIVA — https://www.spglobal.com/spdji/en/research-insights/spiva/ Episode 322: Professor Marco Sammon — https://rationalreminder.ca/podcast/322 Episode 124: Professor Lubos Pastor — https://rationalreminder.ca/podcast/124   Papers From Today's Episode:    'Do Stocks Outperform Treasury Bills?' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X18301521 'Extending Portfolio Theory to Compound Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3875870 'Luck versus Skill in the Cross-Section of Mutual Fund Returns' — https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.2010.01598.x 'Measuring Skill in the Mutual Fund Industry' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X15000628 'Long-Term Shareholder Returns: Evidence from 64,000 Global Stocks' — https://www.tandfonline.com/doi/abs/10.1080/0015198X.2023.2188870 'Which U.S. Stocks Generated the Highest Long-Term Returns?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4897069 'How Should Investors' Long-Term Returns Be Measured?' — https://www.tandfonline.com/doi/abs/10.1080/0015198X.2024.2401765

If you are a millennial, you may look at investing different then previous generations. Mark McGrath, financial planner an associate portfolio manager at PWL Capital Inc., joins us to talk about his book, Wealthier: The Investing Field Guide for Canadian Millennials and how millennial's look at investing for the future. Find out more at pwlcapital.com and order the book here. Connect with Mark on X and LinkedIn.   

Calling all millennials. Financial planner Mark McGrath co-wrote a personal finance book specifically for you. It's called Wealthier: The Investing Field Guide for Canadian Millennials. He joins us to take us through it. Then, why retailers are offering “returnless refunds”. Kyle James, founder of Rather-Be-Shopping.com, explains. And, wealth management for lawyers. Jeffery Lamont, founder and president of Lamont Wealth Strategies, takes us through a cash flow management system and how it's helped his clients. Plus, we speak with Millie Acuna, the manager of asset-building programs at SEED Winnipeg Inc., about how the non-profit helps build financial well being in Manitoba. To find out more about the guests check out: Mark McGrath: pwlcapital.com | X | LinkedIn Jefferey Lamont: X | Instagram Lamont Wealth Strategies: X | Instagram Kyle James: rather-be-shopping.com | Facebook | Instagram Millie Acuna: LinkedIn Bruce Sellery is a personal finance expert and best-selling author. As the founder of Moolala and the CEO of Credit Canada, Bruce is on a mission to help you get a better handle on your money so you can live the life you want. High energy & low B.S., this is Moolala: Money Made Simple. Find Bruce Sellery at Moolala.ca | Twitter | Facebook | LinkedIn

What are the investment implications of Bitcoin's past performance? How should investors think about market efficiency in places with high corruption and low transparency? Is return stacking a game changer for individual investors? In this AMA episode, Ben Felix, Dan Bortolotti, and Mark McGrath tackle some of the most pressing financial and investment questions from listeners. They explore the efficiency of markets, the role of leverage in portfolios, and whether valuation metrics like the Shiller PE are still relevant today. Join us for insights on modern investing, behavioral finance, and the principles guiding long-term wealth building.   Key Points From This Episode:   (0:00) Introduction and AMA format discussion (3:32) Bitcoin as an investment and its role in a portfolio (14:29) The debate on factor investing in markets where factor ETFs are unavailable (19:40) The role of ETFs and whether a single all-equity fund is optimal (22:22) The risks and opportunities of buffered ETFs (26:25) Investing in markets with high corruption and low transparency (29:42) Emerging market investing and its place in a diversified portfolio (30:06) The concept of "Return Stacking" and its viability for investors (38:55) Should individual investors use leverage for higher returns? (40:51) Balancing Benjamin Graham's philosophy with modern portfolio theory (47:51) The role of valuation metrics like the Shiller PE ratio in predicting returns (50:16) The impact of AI and tech stocks on market performance (56:12) The psychology of investing and resisting market noise   Links From Today's Episode:   Rational Reminder on Apple Podcasts — https://podcasts.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/@rationalreminder/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin Felix on X — https://x.com/benjaminwfelix Benjamin Felix on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Borltolotti — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP

Choosing an asset allocation is a crucial investment decision, as it determines expected returns and risk exposure. During this episode, we uncover what this means, exploring topics such as why risk may not always be the best assessment method. We unpack the three factors that John Grable's risk profiling framework considers: behavioural loss tolerance, the ability to take risk (which assesses the financial capacity to withstand losses without affecting lifestyle), and the need to take risk. Many investors sabotage their returns by selling after losses and buying after gains, and we discuss the reasons behind this. We also explore why stocks tend to become less risky over long horizons, while bonds can be vulnerable to inflation and interest rate changes, before explaining why investors should focus on compensated risks. In the aftershow, we address listener comments on absolute returns, XEQT, why we have made certain sponsorship decisions, and more. To gain a deeper understanding of risk and avoid common pitfalls that can undermine your returns, tune in today!   Key Points From This Episode:   (0:05:10) The critical importance of choosing an asset allocation and understanding risk.  (0:08:35) How behavioural loss tolerance impacts asset allocation.    (0:18:42) Psychological theory on risk tolerance and willingness to engage in financial behavior.  (0:30:48) Assessing your need to take risks.  (0:39:24) Why market volatility is not where the true risks lie. (0:47:42) Private credit, other portfolio alternatives, and GICs.  (0:53:03) The aftershow: demystifying the AMA controversy. (1:00:20) Absolute returns, XEQT, and sponsorship on the Rational Reminder. (1:12:05) An update on Ben's health and what he has learned from this experience.    Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/   Papers From Today's Episode:  'The Grable and Lytton risk-tolerance scale: a 15-year retrospective' — https://static.arnaudsylvain.fr/2017/03/The-Grable-and-Lytton-risk-tolerance-scale-15-year-retrospective.pdf

In this episode of the addy podcast, we sit down with Mark McGrath, an Associate Portfolio Manager at PWL Capital, to explore wealth management for physicians, smart investing strategies, and financial planning insights. Mark shares his journey from aspiring dentist to financial expert, the unique financial challenges doctors face, and how to build a secure, diversified investment portfolio. We also dive into Mark's latest book, Wealthier: The Investing Field Guide for Canadian Millennials, and how it empowers individuals to take control of their finances. Plus, we discuss the role of financial advisors, common investing mistakes, and how physicians can optimize their financial future.

Today we are joined by the Professor of Finance at the University of Utah, Matt Ringgenberg to discuss everything related to anomaly returns. Matt's research – mainly centred on the actions of short sellers – has been published in all the major journals including the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. We begin with the definition of an asset pricing anomaly before learning about the anomalies that Matt's research is primarily focused on. Then, we unpack anomaly returns and how they relate to anomaly signal information, what causes anomalies, the risk versus mispricing debate, and the barriers to accessing financial data that allow anomalies to persist. We also weigh Matt's research against its anomaly-denying counterparts, assess anomaly behaviour before and after publicly available signal information, explore models that help to predict future anomalies, and learn more about the economic mechanism underlying asset pricing anomalies. To end, we dive into Matt's paper, ‘The Loan Fee Anomaly' and explore the relationship between cross-sectional predictors and market returns, and Matt explains why long-term happiness is the only true marker of success.    Key Points From This Episode:   (0:05:07) Matt Ringgenberg defines an asset pricing anomaly and describes the anomalies his research is focused on.  (0:06:27) When anomaly returns appear relative to the release of anomaly signal information. (0:07:57) How the annual forming of portfolios in June affects anomaly returns.  (0:08:50) The cause of anomalies, and the risk versus mispricing debate on anomaly returns.   (0:10:35) Unpacking the barriers to accessing financial data that allow anomalies to persist.   (0:13:41) How Matt's rebalancing approach could affect anomaly-denying research. (0:14:37) Applying his work to valuation-based anomalies and to investors capturing anomaly returns in live-traded portfolios.   (0:16:04) How anomalies behave before anomaly signal information is publicly available. (0:17:48) Exploring the models that can be used to predict future anomaly signals.  (0:19:05) How anomaly premiums traded on predicted signals compare to trades on actual information release dates. (0:19:37) Understanding the economic mechanism underlying asset pricing anomalies. (0:24:38) Dissecting one of Matt's short-selling papers, ‘The Loan Fee Anomaly'. (0:32:51) The relationship between cross-sectional predictors and market returns. (0:39:11) What Matt hopes to pass on to his students in his Introduction to Investments course. (0:40:48) How Matthew Ringgenberg defines success.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Matthew Ringgenberg on Google Scholar — https://scholar.google.com/citations?user=NArgYXUAAAAJ  Matthew Ringgenberg on LinkedIn — https://www.linkedin.com/in/matthewringgenberg/  Matthew Ringgenberg on X — https://x.com/Ringgenberg_M  University of Utah — https://www.utah.edu/  Davidson Heath on LinkedIn — https://www.linkedin.com/in/davidson-heath-5a28999a/   Management Science — https://pubsonline.informs.org/journal/mnsc  Journal of Financial and Quantitative Analysis — https://jfqa.org/  Morningstar Direct — https://www.morningstar.com/business/brands/data-analytics/products/direct  YCharts — https://ycharts.com/  Andre Chen — https://andrewchen.substack.com/  David Booth | Dimensional Fund Advisors — https://www.dimensional.com/hk-en/bios/david-booth    Papers From Today's Episode:    ‘A Conversation with Benjamin Graham' — https://www.jstor.org/stable/4477960   ‘The Loan Fee Anomaly: A Short Seller's Best Ideas' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3707166  ‘Do Cross-Sectional Predictors Contain Systematic Information?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3459229

PWL Capital is undergoing an exciting change that will help the company bring a greater positive impact to the Canadian Wealth Management space and serve more clients effectively. In this episode, Ben Felix and Cameron Passmore welcome Mike Sullivan, co-founder of OneDigital, to share the inside story behind PWL Capital's recent decision to join forces with OneDigital. With nearly 25 years of experience in growth through acquisitions, Mike explains how their unique culture and strategic vision led to this exciting collaboration. We discuss Mike's role in driving OneDigital's expansion and how the company's values align with PWL's mission to offer low-cost, client-centric, systematic investing. He provides insights into why this partnership represents more than just a business transaction by amplifying a shared vision for Canadian investors. Our conversation also delves into the dynamics of mergers and acquisitions and examines the importance of culture and purpose in making these critical decisions. Today's episode offers a rare inside look at an M&A transaction with key players that many listeners will already be well-acquainted with. Tune in now to hear it all!   Key Points From This Episode:   (0:00:16) Details on PWL Capital's decision to partner with OneDigital. (0:14:31) An introduction to co-founder Mike Sullivan and OneDigital. (0:16:38) How Mike knows when an acquisition will be a good fit. (0:19:13) The opportunities for building a different kind of wealth management firm in Canada. (0:21:14) What attracted Mike to PWL as a potential OneDigital partner. (0:34:05) Mike's insights on applying what's worked to the Canadian marketplace. (0:36:14) How being part of OneDigital will make PWL better. (0:37:59) Mike and his co-founder Adam Bruckman's objectives for OneDigital. (0:40:20) Why you shouldn't expect changes to PWL's service offerings or teams. (0:45:02) How being part of OneDigital will help PWL assist other like-minded advisors. (0:46:36) The typical advisor profile that PWL/OneDigital Canada would like to attract. (0:53:15) Reflections on our hopes and goals: what we are looking forward to at PWL. (0:57:45) Mike's definition of success, plus Cam and Ben's answer to the success question!   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Mike Sullivan on LinkedIn — https://www.linkedin.com/in/mikesullivanatdigital/ OneDigital — https://www.onedigital.com/

What drives the best financial planning decisions? In this episode, Ben Felix and Mark McGrath sit down with Ben Mathew, a PhD in economics from the University of Chicago and author of Economics: The Remarkable Story of How the Economy Works. The discussion explores the lifecycle model of economics, a powerful yet underutilized framework for financial planning, and contrasts it with traditional approaches like safe withdrawal rates (SWR). Ben Mathew shares insights into the lifecycle model, its origins, and its practical applications in aligning financial decisions with personal goals over a lifetime. We also dig into Ben's innovative financial planning tool, TPAW (Total Portfolio Allocation and Withdrawal) Planner, designed to bring the lifecycle model into practice. While the discussion delves into the complexities of financial planning, it's packed with actionable insights for listeners seeking smarter, evidence-based strategies. Join us for a deep dive into the lifecycle model and discover how it compares to traditional safe withdrawal rates.   Key Points From This Episode:   (0:02:31) Identifying the main problem financial planning aims to solve and the biggest challenges in creating a plan for saving and spending across a lifetime. (0:05:49) Exploring the effectiveness of simple rules of thumb, like the 4% rule, and the economic models available to analyze financial planning problems. (0:09:16) Why the lifecycle model isn't more widely adopted. (0:12:06) The basic premise of the lifecycle model. (0:16:45) How withdrawals in the lifecycle model relate to amortization and how risk affects amortization-based withdrawals. (0:21:12) Examining how amortization-based variable spending aligns with consumption smoothing and responds to portfolio drops. (0:25:25) How updating expected return assumptions mitigates behavioural worry during market drops. (0:26:37) The variability in spending seen in historical simulations, how variable spending can be tailored to individual preferences, and the recommended frequency for updating financial calculations. (0:38:30) What the lifecycle model advises about asset allocation. (0:42:00) The importance of expected return assumptions in lifecycle asset allocation advice. (0:45:28) Adjusting lifecycle advice for when you have limited information about expected returns and how retirement glide paths compare to the lifecycle model. (0:50:03) How asset allocation in the model changes based on the time horizon of the goal. (0:54:10) The influence of different wealth levels on asset allocation in the lifecycle model. (0:56:43) How the safe withdrawal rate methodology works and key problems with its approach. (01:08:11) Connecting the probability of success metric to the utility function and differentiating variable safe withdrawal rates (SWR) from amortization-based withdrawals. (01:17:02) An overview of Ben's exciting online tool, TPAW (Total Portfolio Allocation and Withdrawal) Planner, for bringing the lifecycle model into practice.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Ben Mathew — http://www.benmatheweconomics.com/ Ben Mathew on LinkedIn — https://www.linkedin.com/in/bmathecon/  TPAW Planner — tpawplanner.com Bogleheads — https://www.bogleheads.org/wiki/Main_Page   Books From Today's Episode:   Economics: The Remarkable Story of How the Economy Works — https://www.amazon.com/Economics-Remarkable-Story-Economy-Works/dp/0988669102 The Missing Billionaires: A Guide to Better Financial Decisions — https://www.amazon.com/Missing-Billionaires-Better-Financial-Decisions/dp/1119747910

When you think about decision making skill and personal development, Elk hunting probably isn't the first thing that comes to mind. But on today's show, Joe & Gilbert join Ponch Rivera and Mark McGrath on their NO WAY OUT podcast and discuss the dynamic nature of elk hunting, drawing parallels between hunting strategies and leadership principles. They go deep into their elk hunting mindset and share insights from their experiences coaching hunters in competitive settings, illustrating how coaching and collaboration can lead to success. Ultimately, they advocate for empowering future hunters and preserving the tradition of hunting through education and shared experiences. Enjoy the show! You can find the No Way Out Podcast on your favorite podcast app. If you like what we do...PLEASE TAKE THE TIME TO SUBSCRIBE, RATE and REVIEW! Do you want to take your elk hunting skill set to the next level? Then our BaseCamp Online Elk Hunting Course is just what you need! Forty-one years of Joe Giglia's ultra successful strategies, tips and techniques that will flatten that learning curve and increase your encounters and opportunities. Then look no further than our ELKBROS BASECAMP COURSE - https://elkbros.com/bluecollarelkacademy/ Perks for subscribers to our online BaseCamp Elk Hunting course: 40% Off Native by Carlton Calls 30% Off Tuo Camo 30% Off CutRite Mobile App  30% Off Outdoor Edge Knives 20% Off Slayer Calls 20% Off Caribou Gear 20% Off Treeline MasterClass E-Scouting Course 15% Off Western Fly Covers 15% Off Wapiti River Outdoors Calls Other ELKBROS "Grinder Certified" PROMO CODE DISCOUNTS: 15% off Slayer Calls ElkBrosSlay15 10% off Western Fly Covers: ELKBROS10 10% off Caribou Gear: ELKBROS10 10% off Sirius Archery Arrows: ELKBROS10 10% off Outdoor Edge Knives: ELKBROS10 5% off MSRP of Blackhound Optics: ELKBROS EVERYTHING ElkBros – https://www.elkbros.com PURCHASE ElkBros Merch - https://gear.elkbros.com Watch the Blue Collar Elk Hunting Podcast: https://youtube.com/c/elkbros THE ELKBROS SUCCESS SQUAD Joe Giglia - @elkbros Leroy ‘Chav' Chavez - @elkbroschav Gilbert Ornelas (Big O) - @go_outdoors_txnm  Luis Gonzalez - @vmhunters  Guy Duplantier - @westerncontours Travis O'Shea - @wapitiriveroutdoors Contact Us: info@elkbros.com This podcast is a part of the Waypoint TV Podcast Network. Waypoint is the ultimate outdoor network featuring streaming of full-length fishing and hunting television shows, short films and instructional content, a social media network, Podcast Network. Waypoint is available on Roku, Samsung Smart TV, Amazon Fire TV, Apple TV, Chromecast, Android TV, IoS devices, Android Devices and at www.waypointtv.com all for FREE! Join the Waypoint Army by following them on Instagram at the following accounts @waypointtv @waypointfish @waypointhunt @waypointpodcasts Learn more about your ad choices. Visit megaphone.fm/adchoices

In our second episode of 2025, Ben, Mark, and Dan continue to work through the listener questions we received in our 2024 AMA. We begin with home country biases and how to continue to grow your money from an already diversified portfolio before comparing the benefits of stock trading strategies and EFT portfolio strategies. Then, we discuss the impact of volatile blockchains on the wider securities market, whether you need to adjust your investment strategy when new tariffs are imposed, the ins and outs of terminal wealth management, the benefits of focusing on a total market index, and the personal finance perspective of renting versus buying in Canada. To end, we explore the best practices for increasing risk exposure, take a closer look at FIRE (financial impendence, retire early), assess investing behavioural biases and misconceptions that still pose a threat to even literate investors, and learn about how the Rational Reminder podcast is changing the lives of our listeners. Key Points From This Episode:   (0:01:59) Whether owning a home affects your home country bias and financial asset portfolio. (0:02:43) The correlation between the economic risks of housing and the local stock market. (0:07:21) How to keep growing your money if you already have a diversified portfolio. (0:14:16) When to split your portfolio, and stock trading strategy versus EFT portfolio strategy. (0:22:20) The impact of Bitcoin and volatile blockchains on the wider securities market. (0:24:46) Adapting your investment strategy after the introduction or increase of trading tariffs.  (0:26:20) Maxing out tax-free savings accounts for non-incorporated high-income professionals. (0:33:22) Switching to a total market index to avoid index funds that overvalue the market. (0:37:48) Renting versus buying in Canada, from a personal finance perspective. (0:42:39) The best practices for increasing risk exposure.  (0:51:19) Unpacking FIRE – financial independence, retire early.  (0:56:05) Balancing allocations between traditional retirement savings vehicles and real estate. (1:00:56) Investing behavioural biases and misconceptions that harm even literate investors.  (1:09:24) Whether bonds actually exist, and everything we've changed our minds about in 2024. (1:19:21) Shaping worldviews, on-demand information, and other highlights from your reviews.    Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP  Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/  Peter Mladina on LinkedIn — https://www.linkedin.com/in/peter-mladina-177194125/  Benjamin Felix Quote on X — https://x.com/benjaminwfelix/status/1760356591000301739  Robb Engen — https://boomerandecho.com/robb-engen/  Renaissance Technologies — https://www.rentec.com/Home.action?index=true  Long Blockchain Corp — https://cryptohead.io/acquisitions/long-blockchain/  Nick Maggiulli on X — https://x.com/dollarsanddata  Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/  Bitcoin Uncensored — https://www.podchaser.com/podcasts/bitcoin-uncensored-463350   Episode 335 - What About Warren Buffett — https://rationalreminder.ca/podcast/335  Episode 332: Randolph Cohen & Michael Green — https://rationalreminder.ca/podcast/332   Papers From Today's Episode:    'Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice' — https://dx.doi.org/10.2139/ssrn.4590406 ‘Action Bias among Elite Soccer Goalkeepers: The Case of Penalty Kicks' — https://www.researchgate.net/publication/222676583_Action_Bias_among_Elite_Soccer_Goalkeepers_The_Case_of_Penalty_Kicks

In today's episode, we unpack how rigorous research translates into actionable strategies for wealth management. Ben and Mark are joined by Peter Mladina, Executive Director of Portfolio Research at Northern Trust Wealth Management and professor at UCLA. With an impressive body of published work and practical innovations like his goals-based asset allocation software, Peter offers a unique perspective on bridging the gap between theory and practice. The conversation delves into foundational topics like asset allocation and factor models, with a special focus on practical applications of research in wealth management. Peter shares insights from his research, including intriguing findings on factor investing and joint tests of market efficiency. From real estate investment trusts to the nuances of the Intertemporal Capital Asset Pricing Model (ICAPM), the discussion covers how these concepts can directly inform financial planning and portfolio construction. Tune in to explore the intersection of academic insight and everyday financial decision-making! Key Points From This Episode:   (0:00:17) Introducing Peter Mladina and his wealth management research. (0:04:00) Theoretical and practical shortcomings of Markowitz's Modern Portfolio Theory (MPT). (0:05:24) How the Capital Asset Pricing Model (CAPM) resolves MPT's shortcomings, and how the Intertemporal CAPM (ICAPM) resolves the CAPM and MPT's shortcomings. (0:10:16) Key distinctions between an optimal ICAPM portfolio and an optimal CAPM portfolio. (0:15:33) Allocating between liability hedge assets and risky assets, and when it's sensible for individual investors to try to fully hedge consumption liabilities. (0:20:14) The role of Monte Carlo simulation and human capital in building ICAPM portfolios. (0:24:15) Steps for practitioners starting with ICAPM and how to advise their clients. (0:37:18) Insights from Peter's papers on factor models: why common risk factors should explain returns across most asset classes. (0:40:11) The value of looking at asset classes through a factor lens. (0:41:54) Main factors Peter uses in his research and observations on the zoo of factors. (0:46:23) Takeaways from Peter's paper on real estate (and why he doesn't like it that much). (0:56:45) Unpacking hedge fund returns and factor models and Yale's endowment performance. (01:02:44) Peter's research on traded portfolios and jointly testing factor models and manager performance. (01:07:14) How Peter defines success, both professionally and personally.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Peter Mladina on LinkedIn — https://www.linkedin.com/in/peter-mladina-177194125/ Peter Mladina on SSRN — https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=890472 Northern Trust — https://www.northerntrust.com/ Episode 169: John Cochrane — https://rationalreminder.ca/podcast/169   Papers From Today's Episode:  ‘Real Estate Betas and the Implications for Asset Allocation' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3134732 ‘An ICAPM Framework for Asset Allocation' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4319731 ‘An ICAPM for Goals-Based Investing' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4943241 'Portfolios for Long-Term Investors' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3790823 ‘Yale's Endowment Returns: Manager Skill or Risk Exposure?' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2959074

As the year draws to a close, the Rational Reminder Podcast team delivers an engaging year-end special with a unique twist. Rather than curating clips from previous episodes, Ben Felix, Dan Bortolotti, and Mark McGrath dive into an AMA-style episode, answering listener-submitted questions. They share reflections on lessons learned, highlight impactful community discussions, and provide thoughtful takes on investing strategies, personal growth, and financial planning. They discuss their evolving views on human capital integration, portfolio diversification, and the importance of behavioural finance in long-term planning. They also revisit key themes from earlier episodes and offer heartfelt thank-yous to their team and audience for a remarkable year. Join us for a mix of practical insights, entertaining banter, and a glimpse into what's ahead for the Rational Reminder Podcast. Don't miss this memorable year-end wrap-up! Key Points From This Episode:   (0:00:00) Episode format and a thank you to the PWL Capital team, producers, and audience. (0:05:14) Influential community discussions and their insights on efficient ETF design. (0:10:14) Hear the reason behind Ben's decision to shave his head for so long. (0:13:51) How to integrate human capital into useful financial planning and strategy. (0:19:33) They share their thoughts on the evolving definition of success in life and work. (0:23:33) Their top finance and investment book recommendations for retail investors. (0:28:50) Uncover the nuances of assessing a value premium within an ETF. (0:30:46) How real-life events shaped their approach to providing guidance and financial advice. (0:37:18) Return stacking and a comparison of Dimensional's and Avantis' vector portfolios. (0:41:05) Risks of bonds, bills, and credit and why past returns do not guarantee future results. (0:48:27) Explore the complexities of tax-efficient ETFs and Thrift Savings Plan (TSP) options. (0:56:50) Balancing long-term investment assumptions with short-term market dynamics. (1:03:23) We debate the U.S. market's valuation and the implications for asset allocation. (1:10:15) Hard financial lessons from Ben, Mark, and Dan's investment journeys.  (1:16:29) Unpack the pros and cons of life insurance, infinite banking, and whole life insurance. (1:28:35) Aftershow: reviews, Marks's beard, a final thank you, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/ The Podcast Consultant — https://thepodcastconsultant.com/ Morgan Housel — https://www.morganhousel.com Dimensional Fund Advisors — https://dimensional.com/ Avantis — https://avantisfi.com/ Dan Solin — https://danielsolin.com/ Global X — https://globalxetfs.com/ Episode 138: Factor Investing in Fixed Income — https://rationalreminder.ca/podcast/138 Episode 163: Dave Plecha — https://rationalreminder.ca/podcast/163 Episode 198: Gerard O'Reilly — https://rationalreminder.ca/podcast/198 Episode 316: Andrew Chen — https://rationalreminder.ca/podcast/316 Episode 332: Randolph Cohen & Michael Green — https://rationalreminder.ca/podcast/332   Books From Today's Episode:   Are You a Stock or a Bond? — https://amazon.com/Are-You-Stock-Bond-Financial/dp/0133115291 Reboot Your Portfolio — https://amazon.com/Reboot-Your-Portfolio-Successful-Investing-ebook/dp/B09P4G9LR7 Wealthier — https://amazon.com/Wealthier-Investing-Field-Guide-Millennials-ebook/dp/B0CX2VD1CW The Psychology of Money — https://amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681 Thinking, Fast and Slow — https://amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555 A Random Walk Down Wall Street — https://amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338/ Winning the Loser's Game — https://amazon.com/Winning-Losers-Game-Strategies-Successful/dp/1264258461/ Wealth Planning Strategies for Canadians 2024 — https://amazon.ca/Wealth-Planning-Strategies-Canadians-2024/dp/166871504X Becoming Your Own Banker — https://amazon.com/Becoming-Your-Own-Banker-Infinite/dp/B001NZO1DS   —    Papers From Today's Episode:    'Who Are the Value and Growth Investors?' — https://onlinelibrary.wiley.com/doi/abs/10.1111/jofi.12473 'Portfolios for Long-Term Investors' — https://academic.oup.com/rof/article/26/1/1/6484661 'Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice' — https://dx.doi.org/10.2139/ssrn.4590406

What shapes investor beliefs and behaviours? Steve Utkus, a leading expert in investor behaviour and former Global Head of Investor and Retirement Research at Vanguard, brings decades of groundbreaking insights to this episode. Drawing on exclusive access to Vanguard's anonymized client data and investor surveys, Steve uncovers the intricate links between what people believe and how they invest. In the first half, he reveals surprising findings from his research into investor beliefs and portfolio decisions. The second half dives into the impact of financial advisors, both human and robotic, on improving investor outcomes. Steve's reflections, enriched by years of collaboration with academic leaders and personal conversations with Vanguard founder Jack Bogle, offer a rare window into the world of data-driven financial research. Join us today for this fascinating conversation as we unpack fresh perspectives on investor behaviour and the evolving role of financial advice! Key Points From This Episode:   (0:00:20) The importance of understanding investor belief, Steve's unique approach to studying it, and the benefits of using survey data. (0:08:37) Understanding the effects of individual beliefs on portfolio equity shares. (0:13:40) How equity sensitivity varies with things like trading frequency and how observed sensitivity compares with predictions of an asset pricing model. (0:17:27) The variation of beliefs across different groups and the strong effect of being a pessimist, optimist, or having a middle-of-the-road perspective. (0:21:29) Investor cash flow expectations, how it affects stock return expectations, and how it aligns with models of equilibrium. (0:24:35) The impact of stock market disaster expectations on future stock returns and the effect of COVID-19 on investor expectations. (0:33:37) ESG investing motives, portfolio impact, and the role of financial returns. (0:38:35) Unpacking the impact of robo-advisors on previously DIY investors and who benefits. (0:45:21) Pros and cons of human financial advisors: the needs they satisfy over robo-advisors. (0:53:12) How unadvised investors' needs differ from those who get financial advice. (0:54:04) What determines how much value investors place on financial advice and how they think about the trade-offs between fees and the value of advice. (01:00:00) Reasons traditionally-advised people give for not switching to robo-advising. (01:03:15) Having a relationship with a good advisor: how it impacts investor behaviour through poor market performance periods, and the importance of frequent quality communication. (01:13:07) The key attributes of a high-retention advisor and what they should be focusing on. (01:19:02) Success, retirement, timing, and knowing when to leave, according to Steve.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Steve Utkus on LinkedIn — https://www.linkedin.com/in/steveutkus/ Episode 278: Juhani Linnainmaa — https://rationalreminder.ca/podcast/278   Books From Today's Episode: Bogle on Mutual Funds — https://www.amazon.com/Bogle-Mutual-Funds-Perspectives-Intelligent/dp/111908833X   Papers From Today's Episode:  ‘Political Cycles and Stock Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2920401 Scott Cederburg Paper — ‘The Diversification and Welfare Effects of Robo-advising' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X24000928 ‘Who Benefits from Robo-advising? Evidence from Machine Learning' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3552671 ‘Human Financial Advice in the Age of Automation' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4301514 ‘The Misguided Beliefs of Financial Advisors' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3101426

The legendary Mark McGrath of Sugar Ray joins us and gets v candid about his long storied history in the business. We went long and apologize in advance for Brandon sperging out about Lester “Beetlejuice” Green but Mark met him 5 times and usually the guests on this podcast have never met Beetlejuice.  Join the patreon for our audiobook trilogy of Side Chick Catching Main Chick Feelings by BM Hardin and our Christmas special BJS original “Side Elf Catching Main Santa Feelings”

On this episode of Rebel Rockers with Native Wayne, we honor Sublime, the groundbreaking rock reggae trio from Long Beach. Blending punk, reggae, and hip-hop, Bradley Nowell, Eric Wilson, and Bud Gaugh crafted a sound that redefined music, with hits like "Date Rape" sparking their meteoric rise. Sublime's legacy endures through Sublime with Rome and the next generation led by Bradley's son, Jacob. Their DIY ethos and soulful authenticity created a timeless influence on music. Sublime inspired artists like No Doubt's Gwen Stefani, Sugar Ray's Mark McGrath, and Michael Franti. Their genre-defying music, led by Bradley's unique voice and powerful songwriting, remains a blueprint for rock reggae bands like Stick Figure and Rebelution. From underground gigs to chart-topping hits, Sublime's story is a testament to their artistry and the Long Beach roots that shaped them. Learn more about your ad choices. Visit megaphone.fm/adchoices

What makes Warren Buffett's investment legacy so iconic, and how has his advice shaped the world of investing? In this episode, we delve into Warren Buffet's investment philosophy and the lessons he offers everyday investors. In our conversation, we unpack the impact of his investment strategies on the financial world, debunk common misconceptions, and discuss how his strategies have changed over time. We also examine the structural barriers to replicating his success, the complexities of scale and changing market dynamics, and the parallels between his approach and modern asset pricing models. Discover Warren Buffett's astonishing historical returns, his perspectives on diminishing returns for active managers, and the misunderstood nuances of his advice regarding index funds. Gain insight into academic research on Warren Buffett's success, his pragmatic view on cash holdings, and his opinion on the value of dividends for investors. Tune in to learn about the world's greatest investor and how you can apply his wisdom to your own portfolio!   Key Points From This Episode:   (0:04:55) Warren Buffett's legacy and Berkshire Hathaway's performance history. (0:13:04) The problem of diminishing returns to scale and finding skilled active managers. (0:18:37) Reasons Buffett repeatedly advises most investors to choose low-cost index funds.  (0:23:14) Why identifying skilled managers before they outperform the market is impossible. (0:30:15) Research explaining Buffett's success using multi-factor asset pricing models. (0:35:30) Insight into why Berkshire Hathaway holds large cash reserves as part of its strategy. (0:44:02) Buffett's views on dividends and why his focus remains on reinvestment. (0:48:16) Why diversification concentration is a bad strategy and Buffett's investing superpower. (0:57:07) Aftershow: Ben's experience of being on The Wealthy Barber podcast. (0:58:07) Reviews and feedback from the episode with Randolph Cohen and Michael Green. (1:04:58) Changes to our year-end episode format and what listeners can expect.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ CPP by the Fire — https://pages.pwlcapital.com/webinar_cpp_by_the_fire Braden Warwick on LinkedIn — https://linkedin.com/in/braden-warwick-a40b48a3/ PWL Capital CPP Tool — https://research-tools.pwlcapital.com/research/cpp Berkshire Hathaway — https://berkshirehathaway.com/ Berkshire Hathaway Shareholder Letters — https://berkshirehathaway.com/letters/letters.html Richard Ennis — https://richardmennis.com/author/richard-m-ennis Home Trust — https://hometrust.ca/ Ben on The Wealthy Barber Podcast — https://thewealthybarber.com/podcast/ben-felix-a-deep-dive-into-the-world-of-investing-twb-podcast-5/ Episode 61: Ted Seides — https://rationalreminder.ca/podcast/61 Episode 220: Jonathan Berk and Jules van Binsbergen — https://rationalreminder.ca/podcast/220 Episode 332 - Randolph Cohen & Michael Green — https://rationalreminder.ca/podcast/332   Books From Today's Episode:   The Intelligent Investor — https://amazon.com/dp/B0CBQ18KDB/   Papers From Today's Episode:    'Buffett's Alpha' — https://doi.org/10.2469/faj.v74.n4.3 'Mutual Fund Flows and Performance in Rational Markets'— https://journals.uchicago.edu/doi/abs/10.1086/424739

Brooks Wheelan joins the BJS studio to yap about drinking in the woods, growing up in a neighborhood where the only option was burning trash, the hot CEO shooter reveal, and more. Check out his new special “Alive in Alaska” on YouTube rn: https://youtu.be/xA6UGEnA1I0?si=kLDP82Z_lvA77VRm Join the patreon for good health, the new Mark McGrath episode, our NYC livestream specials with Adam Friedland, Andy Haynes, Asad Benbow, et al, the DiddyWatch video special, and the Side Chick Catching Main Chick Feelings audiobook trilogy: https://www.patreon.com/thebrandonjamelshow

What does Trump's re-election mean for the markets? In this episode, Ben and Mark explore The Presidential Puzzle, a phenomenon revealing that equity risk premiums have historically been higher under Democratic presidencies than Republican ones. With Trump returning to office as the 47th U.S. president, they examine how voter risk aversion shapes political outcomes and market expectations, offering surprising insights into this intriguing connection between politics and investing. They also delve into market timing pitfalls, the importance of diversification, and how financial advisors can help investors navigate emotionally charged decisions. To wrap up, Ben and Mark reflect on listener perspectives and explore the intriguing future of Bitcoin in finance. Tune in to learn what Trump's win means for expected stock returns and more! Key Points From This Episode: (0:00:18) Mark and Ben's experiences at the Physician Financial Independence Conference. (0:06:53) Republicans vs. Democrats: What the election results mean for the stock market. (0:09:09) The Presidential Puzzle and how belief informs asset choices among voters. (0:15:12) How risk aversion and the economy impact election outcomes and expected returns. (0:20:08) What investors should and should not do with this information. (0:24:38) The dangers of making financial decisions based on emotional predictions. (0:30:02) Unpacking the relationship between global risk aversion and U.S. presidencies. (0:31:20) Our aftershow segment: digging into recent reviews, the podcast topic puzzle, Ben's recent trip to Boston, and Bitcoin.   Links From Today's Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Episode 217: The Expected Returns of Financial Literacy — https://rationalreminder.ca/podcast/217 Episode 313: When Should You Hire a Financial Advisor? — https://rationalreminder.ca/podcast/313 Episode 124: Ľuboš Pástor — https://rationalreminder.ca/podcast/124 Papers From Today's Episode:  ‘Belief Disagreement and Portfolio Choice' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3934061 ‘Political Cycles and Stock Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2920401 ‘The Presidential Puzzle: Political Cycles and the Stock Market' — https://www.jstor.org/stable/3648176

Mark McGrath, former frontman of Sugar Ray, discussed his unexpected journey from being a rock star to playing baseball in major league parks, likening it to a Make-A-Wish experience. He reminisced about his childhood in Southern California, supporting the Dodgers and idolizing players like Steve Garvey and Mike Piazza. McGrath humorously compared the crowd energy at a baseball game to a Sugar Ray concert and shared anecdotes about his interactions with fans and other celebrities, including Rick Sutcliffe The post Mark McGrath of Sugar Ray talks baseball at 2000 All Star Game as Rick Sutcliffe busts in on Nestor first appeared on Baltimore Positive WNST.

UN climate negotiations in Baku, Azerbaijan have reached a critical stage, but a resolution of the main sticking point - how much wealthier nations should pay poorer ones to help them respond to climate change - does not appear in sight. The BBC's Mark McGrath gives us the latest after some nations exited talks earlier today to review their options. Also on the programme: reaction to US President-elect Donald Trump selecting his treasury secretary; and what a recent discovery in Belize can tell us about the fabled Maya civilisation.Photo: Activists hold a protest during the COP29 United Nations climate change conference, in Baku, Azerbaijan. Credit: Aziz Karmov/Reuters)

In today's episode, Cameron sits down with Mark McGrath to talk about his trip to Trondheim, Norway, the event he attended there, and his presentation in which he shared top lessons from prestigious Rational Reminder Podcast guests. Tuning in, you'll hear Cameron's top takeaways from conversations with Nobel laureate Eugene Fama and his collaborator Kenneth French, as well as Robert Merton, Antti Ilmanen, Professor Ludovic Phalippou, and more. We also delve into the changing industry trends regarding index investing and the many benefits that come with embracing it, including how it helps financial advisors better serve their clients. Stay tuned for our after-show section, where we discuss advice for new advisors, from developing a robust investment philosophy to building a network, along with insights to help consumers navigate the industry and much more. To learn all about Cameron's trip to Norway, top guest takeaways, and industry trends around index investing, be sure to tune in!   Key Points From This Episode:   (0:01:13) An overview of today's episode and a discussion on industry trends. (0:03:56) Our conversation with Håkon Kavli on managing Reitan Kapital. (0:04:38) What it was like for Cameron to meet Håkon Kavli and Magnus Reitan in Norway. (0:05:42) The excellent event in Trondheim, Norway, and their impressive lineup of speakers. (0:08:56) Unpacking industry trends in index investing and why more people are embracing it. (0:09:42) The light bulb moment for Mark and Cameron regarding index investing. (0:19:07) Highlights from our interviews with Eugene Fama, Ken French, and Robert Merton. (0:25:28) Dr. Annamaria Lusardi's insights and takeaways from our John Cochrane interview. (0:29:05) Top lessons from our conversation with Antti Ilmanen on low-expected returns. (0:30:58) Insights from talking with Professor Ludovic Phalippou about private equity. (0:32:22) Closing thoughts on Cameron's presentation in Norway and index investing trends. (0:39:44) Our aftershow segment: advice for new advisors, ways the industry has changed, tips for consumers, technology insights, personal updates, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Episode 321: Evidence in Practice with Håkon Kavli – https://rationalreminder.ca/podcast/321 Professor Marcos López de Prado — https://www.orie.cornell.edu/faculty-directory/marcos-lopez-de-prado Erik Hilde — https://www.linkedin.com/in/erik-hilde-9570a785/?originalSubdomain=no Dan Bortolotti — https://www.canadianmoneysaver.ca/authors/dan-bortolotti Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/ Justin Bender — https://www.linkedin.com/in/justin-bender-cfa-cfp%C2%AE-tep-195b8b27/?originalSubdomain=ca Episode 200: Prof. Eugene Fama — https://rationalreminder.ca/podcast/200 Tune Out the Noise — https://www.dimensional.com/film Episode 100: Prof. Kenneth French — https://rationalreminder.ca/podcast/100 Episode 234: Prof. Robert C. Merton — https://rationalreminder.ca/podcast/234 Episode 232: Dr. Annamaria Lusardi — https://rationalreminder.ca/podcast/232 Episode 169: Prof. John Cochrane — https://rationalreminder.ca/podcast/169 Episode 202: Antti Ilmanen – https://rationalreminder.ca/podcast/202 Episode 210: Prof. Ludovic Phalippou — https://rationalreminder.ca/podcast/210 Fama and French Three Factor Model — https://www.investopedia.com/terms/f/famaandfrenchthreefactormodel.asp Books From Today's Episode: Investing Amid Low Expected Returns — http://www.aqr.com/serenity The Empowered Investor — https://www.amazon.ca/Empowered-Investor-Canadian-Investment-Experience/dp/0991978307  

What happens when index investing dominates the market? In this episode, we're joined by Davidson Heath, Assistant Professor of Finance at the University of Utah David Eccles School of Business, to explore this question and its surprising answers. Davidson's research dives into the unintended impacts of passive investing, examining how it influences price stability, corporate governance, and even the way we define shareholder responsibility. He unpacks how index funds, while supporting price efficiency, may be weakening governance structures by reducing shareholder oversight, a shift that could have lasting effects on corporate accountability. We also discuss the promise and limitations of socially responsible investing (SRI), as Davidson introduces the term “impact washing” to describe how some SRI funds fail to achieve real change despite their green branding. In a forward-looking segment, Davidson shares insights on the collaboration between AI and human intelligence in finance, giving a reassuring perspective on the future of machine and human co-existence in complex decision-making. This episode is a must-listen for anyone curious about the hidden dynamics of passive investing and the evolving role of technology in finance!   Key Points From This Episode: (0:02:22) Davidson's paper On Index Investing; Why active managers are important to indexing. (0:08:42) Conclusions on how index investing is affecting price efficiency. (0:11:10) The role of shareholders in corporate governance. (0:13:06) How the incentives of index funds to monitor portfolio firms differ from active funds. (0:15:10) Measuring how well index or active funds are monitoring the companies they own. (0:16:54) How the expense ratios of index funds affect their quality of monitoring. (0:18:08) What shareholders can do to monitor and make themselves heard. (0:20:31) How index fund ownership affects other firm-level governance issues. (0:21:30) Recap and takeaways on index funds and the market. (0:25:39) The impact of socially responsible investing (SRI) and how successful they are at selecting firms with better environmental, social, and governance (ESG) characteristics. (0:28:08) Unpacking “impact washing” in SRI funds and its consequences. (0:33:04) Insights on how ETFs are replicating index funds. (0:37:03) The implications of Davidson's findings for index ETF investors and the markets. (0:38:57) Details on Davidson's Cyborg Trading project and how it's using AI to complement human intelligence. (0:42:42) How Davidson defines success: being a part of a worthwhile endeavour.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Davidson Heath — https://davidsontheath.github.io/ Davidson Heath on LinkedIn — https://www.linkedin.com/in/davidson-heath-5a28999a/ Davidson Heath on Google Scholar — https://scholar.google.com/citations?user=Fr-HyLEAAAAJ&hl=en Cyborg — https://www.imdb.com/title/tt0097138/   Papers From Today's Episode:  ‘On Index Investing' — https://dx.doi.org/10.2139/ssrn.3055324 ‘Do Index Funds Monitor?' — https://doi.org/10.1093/rfs/hhab023 ‘Does Socially Responsible Investing Change Firm Behavior?' — https://doi.org/10.1093/rof/rfad002 ‘The Rise of Passive Investing and Active Mutual Fund Skill' — https://dx.doi.org/10.2139/ssrn.4190266 ‘Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms' — https://dx.doi.org/10.2139/ssrn.4359282

Hosts Ben Felix, Dan Bortolotti, and Mark McGrath delve into the intricacies of the Registered Education Savings Plan (RESP), a tax-advantaged account designed to help Canadian families save for their children's post-secondary education. They explore optimal contribution strategies, debating whether to front-load contributions or maximize government grants over time. The conversation covers the complexities of RESP withdrawals, including the different types of payments and the importance of strategic timing to minimize taxes. They also discuss asset allocation strategies within an RESP, touching on whether a glide path approach makes sense. Dan shares a critical perspective on the RESP system, highlighting its shortcomings in assisting low-income families and offering suggestions for improvement.    Whether you're a parent planning for your child's education or simply interested in financial planning and investment strategies, this episode provides valuable insights into making the most of RESPs. Key Points From This Episode:   (0:03:00) Overview of the Registered Education Savings Plan (RESP) in Canada. (0:04:33) Discussion on contribution limits and government grants for RESPs. (0:07:15) Explanation of the Canada Learning Bond and provincial grants. (0:10:00) The flexibility and complexities of family RESPs. (0:12:51) Contribution strategies: front-loading vs. maximizing grants. (0:17:54) Optimal RESP withdrawal strategies and timing. (0:28:11) Asset allocation strategies within an RESP, including glide paths. (0:43:45) Dan's critique of the RESP system and suggestions for improvement. (0:55:37) Discussion on the inadequacy of RESP incentives for low-income families. (1:04:26) Positive observations about RESPs and their benefits. (1:09:19) Listener feedback and appreciation for the podcast hosts.   Links From Today's Episode:   Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on Apple Podcasts — https://podcasts.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/@rationalreminder/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://linkedin.com/in/dan-bortolotti-8a482310/ 

What does it take to manage a $60 billion wealth management firm while keeping investment strategies grounded in scientific thinking? In this episode, we're joined by Don Calcagni, Chief Investment Officer at Mercer Advisors. Don chairs the firm's investment committee and provides guidance on mergers and acquisitions, investment integration, and long-term strategic planning. His expertise spans fiduciary oversight, portfolio management, private equity, and financial mathematics. In our conversation, we discuss how his firm constructs client portfolios, engages with academic and industry experts, and leverages a factor-based investment approach. He also explains the importance of having an investment philosophy rooted in fiduciary principles and delves into how Mercer Advisors manages fiduciary oversight for billions of dollars in assets across thousands of families. Explore the details of portfolio governance and the role of the firms's alternative investment platform space. Gain insights on value metrics, factor investing, and how Mercer works to provide a family-office experience for everyday clients. Tune in for a deep dive into portfolio construction and the evolving landscape of wealth management with Don Calcagni! Key Points From This Episode:   (0:05:22) Learn about Mercer Advisors and the range of services it has on offer. (0:07:10) Unpack Mercer Advisors' approach and philosophy to portfolio construction. (0:11:55) The Building Better Portfolio Summit and the purpose of the event. (0:17:08) How the meetings are structured and the main takeaways from the last event. (0:24:45) What topics cause extreme points of agreement and disagreement at the meetings. (0:29:21) Find out how takeaways from the events are implemented into client portfolios. (0:31:19) Mercer Advisors' recently launched alternative investment platform space. (0:40:23) Don shares valuable recommendations and advice for the average investor. (0:42:23) Aftershow: the controversy surrounding the RBC options trading incident. (0:49:57) Listener feedback, reviews, updates, and upcoming events.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://linkedin.com/in/dan-bortolotti-8a482310/  Canadian Couch Potato — https://canadiancouchpotato.com/blog/  Don Calcagni on LinkedIn — https://linkedin.com/in/donald-calcagni-8104b546/ Mercer Advisors — https://merceradvisors.com/ ‘Building Better Portfolios | 2023 Summit' — https://youtu.be/TWYukQogQPA Dimensional Fund Advisors — https://dimensional.com/ BlackRock — https://blackrock.com/ Avantis — https://avantisfi.com/ AQR — https://aqr.com Carlyle — https://carlyle.com/ Royal Bank of Canada (RBC) — https://www.rbcroyalbank.com Future Proof Festival — https://futureproofhq.com/festival/ Episode 316: Andrew Chen — https://rationalreminder.ca/podcast/316 Episode 323: Renting Versus Buying a Home in Canada 2005-2024 — https://rationalreminder.ca/podcast/323 Episode 325: Addressing 200+ Comments on Renting vs. Owning a Home — https://rationalreminder.ca/podcast/325   Papers From Today's Episode:    ‘Portfolio Selection' — https://doi.org/10.1111/j.1540-6261.1952.tb01525.x  

Send us a textKatie and Bridget go to Spooky Island as they re-watch the live action remake: Scooby-Doo! All your favorite characters from the original cartoon are here! They're still solving mysteries! Life is good! Oh wait, sorry they all just broke up with each other and nevermind now no ones friends anymore... HEY JUST KIDDING! 2 years later and life is all good again! Don't ask us what the point of that was - we surely don't know! When Mystery Inc. gets invited to Spooky Island, they must figure out what's happening to all the Spring Break college kids... Has anyone checked on Mark McGrath? Because he might have something to do with it. Through teamwork and Scooby Snacks, the gang discovers that no big deal there's just an island cult that's stealing souls, replacing humans with monsters, brainwashing, keeping a vat full of protoplasm heads, using robots, and kidnapping Mr. Beans... All somehow orchestrated by our old dog Scrappy Doo  (RIP)! It's a movie you'd probably want to smoke a doobie beforehand to really enjoy; unless you can get a ticket onto that Spooky Island plane cause DAMN where's our invite!? Released in 2002, it features an all star cast including: Matthew Lillard, Freddie Prinze Jr., Sarah Michelle Gellar, Linda Cardellini, Rowan Atkinson, and Isla Fisher.

Have you ever wondered how financial markets performed centuries ago or how world events impacted stock prices? Today, we sit down with Dr. Bryan Taylor, President and Chief Economist at Global Financial Data, to unpack the world's fascinating financial history. Dr. Taylor is known for his extensive work in collecting and analyzing historical financial data that spans several centuries and his valuable knowledge of stock, bond, and commodity market trends, which led to the creation of Global Financial Data. In our conversation, Dr. Taylor shares insights from his extensive research, covering stock and bond returns from as far back as the 1600s. From the impact of the French Revolution on financial markets to the performance of commodities, Dr. Taylor provides a rare view of the long-term trends shaping today's financial decisions. Learn about the value of historical financial data, its importance for investment decision-making, and how long-term trends can provide insights into future market behaviour. We discuss the creation of Global Financial Data's extensive historical financial database, the challenges of gathering centuries-old data, and the long-term performance of stocks versus bonds. Explore the impact of major geopolitical events on financial markets, the importance of studying historical market trends for modern investment decisions, and how his data-driven research has been utilized. Join us as we delve into the world's financial history and its relevance to today's investment landscape with Dr. Bryan Taylor. Tune in now!   Key Points From This Episode:   (0:03:41) Background about Global Financial Data, their data sources, and the challenges of collecting historical data. (0:09:27) What he finds fascinating about historical data, who uses the database, and the role of historical data in financial decision-making. (0:14:49) How stocks have performed relative to bonds throughout the financial records. (0:17:34) Uncover the main historical factors that limit returns and increase risk for investors and the five financial eras. (0:23:18) Explore the trends in stocks and bonds during the five financial eras and the impact of government debt and inflation on returns. (0:29:04) Common characteristics of countries that have had bad long-term market outcomes and the effect of world events on markets. (0:35:11) Learn about the best and worst-performing markets and what makes the US market so resilient. (0:38:36) His outlook for stocks and bonds and how the recent bear market compared to past market upheavals. (0:41:36) Compare past and current interest rates and the return on commodities versus stocks and bonds. (0:46:20) Overcoming the lack of historical data for emerging market returns and what defines an emerging market. (0:52:29) Find out how emerging markets have performed throughout history and how often they make the transition to developed. (0:59:04) Unpack the historical market concentration in the US and his thoughts on the expected returns of the US stock market. (1:03:42) Final takeaways and Dr. Bryan Taylor shares his definition of success.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dr. Bryan Taylor — https://www.linkedin.com/in/bryan-taylor-46a92032/ Global Financial Data — https://globalfinancialdata.com/ Dr. Bryan Taylor on SSRN — https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=4320002   Papers From Today's Episode:    ‘France and the Four Horsemen of the Market' — https://globalfinancialdata.com/france-and-the-four-horsemen-of-the-market ‘The Financial History of Emerging Markets: New Indices' — https://dx.doi.org/10.2139/ssrn.4193062  

Is renting just “throwing money away,” or could it be the smarter financial choice? In this episode, we dive deep into one of the most debated topics in personal finance: renting versus owning a home. In our conversation, we discuss the nuances of renting versus owning, the hidden costs of buying a home, and the importance of saving discipline. Tuning in, you'll discover how emotional biases may inflate real estate prices and how societal pressures influence housing decisions. Then, we shift our focus to a listener's question about interest rates and bonds. Dan explains how bond prices and yields work inversely and delves into the concept of bond duration. He also breaks down how long and short-term bonds react to interest rate changes and why the Bank of Canada's influence on bond markets may not always be straightforward. Join us as we investigate the pros and cons of renting versus buying and how to leverage bonds effectively in a dynamic interest rate environment! Key Points From This Episode:   (0:03:54) Exploring the common belief that owning a home is universally better. (0:09:13) How buying and renting in Canada compares to other countries. (0:10:58) Some of the inherent risks of renting versus buying in Canada. (0:17:01) Methods to test how housing performed as an asset with examples. (0:21:04) The importance of analyzing real data, and Ben presents his findings.  (0:31:03) How housing costs influence the financial outcome of renting versus owning. (0:35:51) Ways that mortgages, housing costs, and forced savings affect wealth accumulation. (0:47:34) Unpacking how maintenance costs serve as a proportion of the building value. (0:52:45) Renting versus buying takeaways and the associated psychological factors. (1:00:37) Dan's take on whether long-term bonds can take advantage of falling interest rates. (1:10:55) Insight into how various market-driven factors influence the long-term return on bonds. (1:13:30) Aftershow: final takeaways, catch-up, news, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310 Canadian Couch Potato — https://canadiancouchpotato.com/ Future Proof Conference — https://futureproofhq.com/ CMHC (Canada Mortgage and Housing Corporation) Rental Market Survey Data — https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/housing-data/data-tables/rental-market/rental-market-report-data-tables Episode 196: Sebastien Betermier — https://rationalreminder.ca/podcast/196 Episode 308: Dan Bortolotti — https://rationalreminder.ca/podcast/308 Statistics Canada — https://www.statcan.gc.ca/ Bank of Canada — https://www.bankofcanada.ca/ National Council of Real Estate Investment Fiduciaries (NCREIF) — https://www.ncreif.org/ REALTOR.ca — https://www.realtor.ca/ Kevin Prins — https://www.bmoetfs.ca/specialists/kevin-prins BMO Canadian ETF — https://www.bmoetfs.ca/ Financial Planning Association of Canada — https://www.fpassociation.ca/   Papers From Today's Episode:    ‘Assessing High House Prices: Bubbles, Fundamentals and Misperceptions' — https://www.aeaweb.org/articles?id=10.1257/089533005775196769&ref=josephnoelwalker.com ‘Lessons from Over 30 Years of Buy versus Rent Decisions: Is the American Dream Always Wise?' — https://doi.org/10.1111/j.1540-6229.2011.00321.x ‘Perception of House Price Risk and Homeownership' — https://www.nber.org/papers/w25090 ‘Owner-Occupied Housing as a Hedge Against Rent Risk' — https://doi.org/10.1093/qje/120.2.763 ‘To Rent or Buy? A 30-Year Perspective' — https://www.financialplanningassociation.org/article/journal/MAY18-rent-or-buy-30-year-perspective ‘Are Renters Being Left Behind?: Homeownership and Wealth Accumulation in Canadian Cities' — http://hdl.handle.net/2429/50413 ‘The Life-Cycle Effects of House Price Changes' — https://www.philadelphiafed.org/-/media/frbp/assets/working-papers/2005/wp05-7.pdf ‘Depreciation of Housing Capital, Maintenance, and House Price Inflation: Estimates From a Repeat Sales Model' — https://doi.org/10.1016/j.jue.2006.07.007 ‘Characteristics of Depreciation in Commercial and Multifamily Property: An Investment Perspective' — https://doi.org/10.1111/1540-6229.12156 ‘Homeownership and Psychological Resources Among Older Adults: Do Gender and Mortgage Status Moderate Homeownership Effects?' — https://doi.org/10.1177/08982643211029174  

How can the Rational Reminder Podcast get even better? By bringing back one of its most beloved voices, Dan Bortolotti, also known as "The Spud." In this exciting episode, hosts Ben Felix, Cameron Passmore, and Mark McGrath announce that Dan, the mind behind the Canadian Couch Potato Podcast, will now be a regular guest, contributing segments like "Bad Investment Advice" or "Ask the Spud.” Before Dan joins the conversation, we have an insightful discussion with Håkon Kavli, CIO of Reitan Kapital. Håkon shares how his team manages the wealth of one of Norway's most prominent families, comparable to Canada's Weston family. We discuss Reitan Kapital's evidence-based investing approach, their robust methods for overcoming portfolio optimization challenges, and much more. Håkon also sheds light on their upcoming investing conference in Norway, featuring speakers like our very own, Cameron Passmore, and Marcos López de Prado. Following this, Dan kicks off his return by dissecting an article that advocates going all-in on the QQQ ETF in an RRSP, exposing the dangers of such a concentrated and risky strategy. He contrasts this approach with the wisdom of diversifying across global markets, using examples like Vanguard's VEQT ETF, which offers exposure to over 13,000 stocks worldwide. Additionally, if you're a financial advisor interested in joining a planning-focused, fiduciary firm like PWL Capital, we encourage you to reach out. Our team is growing, and we're looking for like-minded individuals to join our mission. Tune in for a rich mix of expert advice, thoughtful discussions, and exciting announcements! Key Points From This Episode:   (0:00:28) Announcements: a new regular guest, PWL's call for like-minded advisors, and more. (0:04:15) Introducing Håkon Kavli, the Reitan family, and the origins of Reitan Kapital. (0:08:06) Reitan Kapital's investment philosophy and asset allocation strategy. (0:10:29) The biggest differences between a Reitan Kapital portfolio and a market portfolio. (0:13:19) Capital market assumptions; how they influence Reitan Kapital's investment process. (0:20:38) Portfolio optimization challenges and Reitan's robust methods for addressing these. (0:35:06) The role of private equity in a diversified portfolio and how it differs from public equity. (0:38:40) Fee structure significance in private equity investments and their impact on returns. (0:40:38) Risks associated with private equity and how they compare to public markets. (0:43:36) Reitan Kapital's view on how private equity fits into a diversified portfolio. (0:49:08) Challenges of investing in private equity for retail investors.  (0:50:26) Why so many institutions and firms have substantial allocations to private markets. (0:53:58) An overview of the research Håkon is most excited about. (0:56:20) Details for the upcoming conference in Norway, featuring Cameron Passmore. (0:59:16) Dan's Bad Investment Advice segment; going all-in on the QQQ ETF in an RRSP. (01:13:12) Our aftershow segment: listener feedback, our next meetup in Ottawa, a shoutout to Jason Pereira, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Dan Bortolotti — https://www.canadianmoneysaver.ca/authors/dan-bortolotti Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato Blog — https://canadiancouchpotato.com/ Canadian Couch Potato Podcast — https://canadiancouchpotato.com/podcast/ Episode 308: Dan Bortolotti — https://rationalreminder.ca/podcast/308 Håkon Kavli on LinkedIn — https://www.linkedin.com/in/haakonkavli/ Reitan — https://reitan.no/no Reitan Kapital — http://www.reitankapital.no/ Weston — https://www.weston.ca/en/Home.aspx Marcos Lopez de Prado — https://www.orie.cornell.edu/faculty-directory/marcos-lopez-de-prado Antti Ilmanen — https://www.aqr.com/About-Us/OurFirm/Antti-Ilmanen Episode 224: Prof. Scott Cederburg — https://rationalreminder.ca/podcast/224 Sharpe ratio — https://www.investopedia.com/terms/s/sharperatio.asp Episode 210: Prof. Ludovic Phalippou — https://rationalreminder.ca/podcast/210 Reitan Kapital Conference — ‘An interesting RRSP idea – all in on QQQ?' — https://www.tawcan.com/all-in-on-qqq/ VEQT Vanguard All-Equity ETF Portfolio — https://www.vanguard.ca/en/investor/products/products-group/etfs/VEQT Mark Mid Graph on X — Jason Pereira — https://jasonpereira.ca/ Papers From Today's Episode:  ‘Estimating Private Equity Returns from Limited Partner Cash Flows' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2356553 ‘Mutual Fund Flows and Performance in Rational Markets' — https://www.nber.org/papers/w9275 ‘What are Stock Investors' Actual Historical Returns? Evidence from Dollar-Weighted Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=544142

Economics can often seem daunting, filled with complex theories and jargon that can leave the average person scratching their head. But today's guest, Kyla Scanlon, is on a mission to change that. In this episode, we have an insightful conversation with Kyla, a financial educator, content creator, and host of Wealthsimple's TLDR podcast, who has built a significant following by making economics accessible and engaging. Kyla's ability to break down complex topics into digestible, relatable content has resonated with a broad audience, from TikTok to YouTube, and today, she shares her journey with us.   Kyla began her career creating content during the GameStop frenzy, which quickly propelled her into the spotlight. She has since become a voice for the new generation, offering a fresh perspective on economics that is both informative and entertaining. Her book, In This Economy, provides a plain language overview of economics, aiming to help everyday people understand what's happening in the world around them.   In this episode, we explore various topics, including the role of vibes in the economy, the housing market, and the future of financial markets. Kyla also discusses her thoughts on the differences between investing, speculating, and gambling, and how these concepts play out in today's financial landscape.   Key Points From This Episode:   (00:03:22) Introduction to Kyla Scanlon and her journey into financial education. (00:07:12) The importance of making complex topics accessible to a broad audience. (00:10:45) Discussion on how Kyla's content creation career took off with GameStop. (00:14:32) The role of vibes and sentiment in the economy and how it influences market behavior. (00:17:55) Kyla's perspective on the housing market and why it's crucial for the economy. (00:22:06) The distinction between investing, speculating, and gambling. (00:26:43) Kyla's thoughts on the impact of social media on financial markets. (00:31:19) The importance of understanding economic indicators like GDP and inflation. (00:36:02) Why the Federal Reserve exists and its impact on the economy. (00:37:56) Fed's toolkit: rates, balance, guidance, market support. (00:42:03) Understanding economics can be difficult for many. (00:45:17) Social media: Tool with impact on economy. (00:46:47) Media's business model based on clicks, negativity. (00:49:53) Constantly seeking new projects, connecting people to economics. (00:53:10) Younger generation relies on social media for news.   Links From Today's Episode:   Rational Reminder on Apple Podcasts — https://podcasts.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/@rationalreminder/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP

Which account should you choose, a registered retirement savings plan (RRSP) or a Tax-free savings account (TFSA)? This is one of the most common decisions that Canadians must make when it comes to investing, but it will also elicit some of the most passionate responses. RRSPs especially get a lot of undue skepticism, with some even labelling it as a scam. Today we take a deep dive into both of these savings accounts, exploring the downsides and benefits of each, and how to decide which account is right for you based on your savings goals. With the help of Conquest Planning, a specialized, in-depth modelling tool, we look at a range of scenarios incorporating different variables, like income and family size, and break down our analysis regarding the RRSP vs. TFSA decision for each scenario. We discuss key factors to consider, including the basic personal amount tax credit, which allows RRSPs to act as a tax flow-through, and the guaranteed income supplement (GIS), which can impact retirement planning. Our conversation also examines how to approach family size and longevity, as RRSPs become more advantageous with longer lifespans. Join us today to learn about the benefits and flexibility of each of these accounts, the surprising ways RRSPs often outperform TFSAs, and find out which one is right for you! Key Points From This Episode:   (0:00:20) An introduction to the RRSP vs. TFSA debate. (0:08:11) How we used the Conquest Planning tool and the scenarios we analyzed. (0:10:34) Taxation and contribution considerations and strategies for RRSPs and TFSAs. (0:20:11) An analysis of scenario one; $60,000 income and no children. (0:22:38) Basic personal amount tax credit; how it allows RRSPs to act as a tax flow-through. (0:27:20) The Guaranteed Income Supplement (GIS) and its impact on RRSP vs. TFSA analysis in different scenarios. (0:36:16) How GIS is tied to Old Age Security (OAS) payments. (0:41:12) An analysis of scenario two; a couple with two children, and the impact of the Canada Child Benefit on RRSP vs. TFSA contributions. (0:45:21) The impact of mortality and longevity on RRSP and TFSA in various scenarios. (0:47:01) Main takeaways from today's scenarios and the advice our hosts would give to different clients regarding TFSAs and RRSPs. (0:50:50) Why RRSPs are of greater benefit if you live longer compared to TFSAs. (0:52:13) Our aftershow section: listener feedback, what Ben is working on regarding renting versus buying, the zombie apocalypse, and more.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Brady Plunkett on LinkedIn — https://www.linkedin.com/in/brady-plunkett-712489105/ Lukas Fleck on LinkedIn — https://www.linkedin.com/in/lukasfleck/ Flossing for your Finances, Personal Financial Strategies for Dentists — https://us06web.zoom.us/webinar/register/9017236574029/WN_7O_JdvejRhmh-_LleBNRmQ#/registration Episode 317: Kevin Milligan — https://rationalreminder.ca/podcast/317   Papers From Today's Episode:  ‘Tax Uncertainty and Retirement Savings Diversification' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2799288  

If you're in the Canada Pension Plan (CPP), then you won't want to miss today's conversation with Canada's Chief Actuary, Assia Billig. Assia's knowledge of the CPP is extensive, having joined the Office of the Chief Actuary (OCA) in 2008, where she was involved in the preparation of statutory actuarial reports on the Canada Pension Plan and Old Age Security Program. She has served as Chief Actuary of the Government of Canada since 2019, and, before joining the OCA, she worked in private pension consulting. She is also a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries. Assia joins us today for a deep dive into the most common questions about the Canada Pension Plan, from the inner workings of its financial components to the quality of governance that drives it. Discover the world-leading topics she and her team investigate, the immense power and research behind their analysis, and why the CPP is set to be sustainable for the next 75 years. We also discuss the concerns some people have about the CPP's longevity, before examining how the actuarial report on the sustainability of the CPP, conducted every three years, reliably addresses this. If today's conversation with Canada's chief actuary does not instill confidence and pride in Canada's investment in our collective retirement, then we don't know what will! Tune in, to hear all of Assia's keen insights and discover why she is unequivocally the best person to talk about the sustainability of the CPP. Key Points From This Episode:   (0:00:18) Introducing today's guest, Assia Billig and the Canada Pension Plan (CPP). (0:04:53) What the main function of the Office of the Chief Actuary is. (0:06:28) The independence of Assia's office and the work that they do. (0:07:09) Unpacking the main purpose of the actuarial report on the Canada Pension Plan. (0:09:22) Changes that the report triggers to contribution or benefit rates. (0:13:04) Main revenue sources for the CPP and how base CPP benefit payments are funded. (0:14:56) Base CPP's funded status and how funding differs for additional CPP. (0:20:32) The sustainability of base and additional CPP and how sustainability is measured. (0:23:22) Primary assumptions that go into sustainability analysis at the high level. (0:27:31) Estimating expected returns for assets managed by CPP investments. (0:30:37) The plan's level of sensitivity to lower realized returns and other variables. (0:35:22) How lower overall economic growth and inequality affect the plan's sustainability. (0:37:15) Measuring the impact of variables like climate change and other catastrophic events. (0:43:01) When the minimum contribution rate exceeds the current legislated contribution rate. (0:44:12) Assia's response to people who are skeptical of the CPP's future sustainability.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/  Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/  Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Assia Billig — https://www.osfi-bsif.gc.ca/en/oca Assia Billig on LinkedIn — https://www.linkedin.com/in/assia-billig-9b861587/?originalSubdomain=ca

CLL #2392 (feat. Dayna Devon and Mark McGrath) 11/29/2004 – Monday Night Show Source – Tucker Stream Recording (2004) with a KNRK CD Recording (2004) Patch This episode is 100% complete with a medium audio upgrade, Dayna is making her only appearance on CLL and Mark is returning to the show for his 6th appearance. They’re promoting the show ‘Extra’ and prove to be a fun and unique pair of guests. The Love Between The Two Hosts – CLL on Youtube, with Video for select episodes. https://adamanddrdrewshow.com/1743-loveline-nostalgia-with-superfan-giovanni/ Paid Link – As an Amazon Associate I earn from qualifying purchases. Music Provided by Rich Banks Check out His Website and Soundcloud to hear more of his awesome work and perhaps commission him Read More →

CLL #2392 (feat. Dayna Devon and Mark McGrath) 11/29/2004 – Monday Night Show Source – Tucker Stream Recording (2004) with a KNRK CD Recording (2004) Patch This episode is 100% complete with a medium audio upgrade, Dayna is making her only appearance on CLL and Mark is returning to the show for his 6th appearance. They’re promoting the show ‘Extra’ and prove to be a fun and unique pair of guests. The Love Between The Two Hosts – CLL on Youtube, with Video for select episodes. https://adamanddrdrewshow.com/1743-loveline-nostalgia-with-superfan-giovanni/ Paid Link – As an Amazon Associate I earn from qualifying purchases. Music Provided by Rich Banks Check out His Website and Soundcloud to hear more of his awesome work and perhaps commission him Read More →

Adam opens the show with Mike Dawson sitting in for the news. They discuss how modern technology has somehow not put an end to “lore.” Then they cover stories that include a favorable ruling for Alec Baldwin in his fatal shooting lawsuit, Rob Reiner tweeting for Joe Biden to step down and new garbage cans for New York City. Next, Adam is joined by members of the band Smash Mouth, Paul De Lisle & Zach Goode. They talk about KROQ being pivotal in helping the band break, the death of their former lead-singer, Steve Harwell, and their current tour & new singles. Then, Dave Rubin returns to the show and they recap a star-studded dinner they attended last night, which included Adam splitting a potato with billionaire David Sacks. They also discuss Gavin Newsom's ruining of California, Joe Biden's obvious decline and the media's tendency to lie about things Trump said, despite video evidence to the contrary. They wrap-up by discussing what the country could look like after the 2024 election if Trump wins. For more with Smash Mouth: ● INSTAGRAM: @smashmouthofficial and @dividedbyzach ● WEBSITE: smashmouth.com For more with Dave Rubin: ● INSTAGRAM: @rubinreport ● WEBSITE: rubinreport.locals.com Thank you for supporting our sponsors: ● SimpliSafe.com/Adam ● https://DrinkTrade.com/Carolla ● http://Homes.com/ ● http://OReillyAuto.com/Adam

Mark McGrath sits down with Adam, for a delightful and hilarious deep dive interview about his career, his extensive No Jumper knowledge, and more!   / therealmarkmcgrath   ----- 0:00 Intro 0:15 How the "losing hearing" rumor started on a red carpet, he said it as a joke and it went viral 2:55 Mark won the jeopardy rock trivia at one point: "I dont like to brag but yes" lol 3:30 Being called a one hit wonder w their song "Fly" 5:00 "I loooove music Adam22!" and by 8th grade he tried to figure out how to become a musician full time 6:50 Adam says by way of Nu Metal he went to Hardcore and Metal, Mark says Fred Durst would be happy to hear that 8:15 First album with Nicole Eggert n*ked on the cover, they had to make a statement coz there was so much competition 9:01 Nirvana is directly responsible for Sugar Ray success 10:18 In the 90s you could lie to labels, no social media to counter anything 11:14 The Shrinky Dinx, they started the group to drink beer and play old songs 12:23 Growing up in Newport Beach, Mark was in awe of reggae, he was breakdancing too! 12:54 Changing their name to Sugar Ray, Sugar Ray never trademarked his own name, Mark says he can use it anytime tho 13:00 They told the label they were bigger than they were and 500 songs recorded, one thing led to another and they got signed by Atlantic for 1M 14:43 They set themselves apart by making a music video on a VHS in a pizza box and sent it to every label 15:55 Mark calls Adam the Joe Rogan of the Zesty Disciples 17:27 Adam is really locked in when he interviews ppl which is amazing 18:46 Howard Stern influence + Meat Puppets, one of Kurt Cbain's favorite band, they were gonna record one of Howard Stern's song called “Psychedelic Bee” 20:30 They pulled up to a college while on tour, they recorded the song that day, sent to their manager thru Fedex and that was it, couple weeks later the manager tells them "leave all your shit in Wyoming and come here to be Howard Stern" 24:50 The Fly appeal, they toured for 2 years with that song alone 27:20 Mark briefly gets emotional talking about the music memories with his mom 29:21 Mark said he hated Fly at first, he wanted to make it heavier like Deftones or Korn, when he heard the original version, super singy/lame and he was like "This aint it, I quit!" 35:00 Mark on getting Supercat on the song, turns out David Khan was super friend with him, called him, and boom! Came to the studio 37:20 They went huge overnight, Mark was ready for it! A dream come true 41:05 You got a tramp stamp? Mark says "I do...! Why WOULD YOU BRING THAT UP!" Mark shows the tattoo 41:51 Mark says Mr Cartoon is kinda the interview that brought him to No Jumper 44:45 How ppl love to hate Limp Bizkit but secretly love them, they're back on the road as we speak 47:15 Feeling the business pressure, labels needing singles, and growing as songwriters 53:45 Mark says King Yella is compelling and Ben Baller is full of it 57:15 The Sugar gay incident, it was a pre-grammy/Oscar party w Madonna 59:32 Ppl outside were already talking kinda crazy to the attendees, and Mark didn't like it, Mark says "I stayed on bid'ness" 59:00 Madonna says Mak walk me to my car, they walk out, he was feelin himself a little bit, as soon as Madonna drives off, he turns around to ppl calling him a F etc, Mark blacked out 1:02:15 Mark praises Desto Dubb! 1:08:00 Mark actually called Pharell for a song to find more success, Mark didnt like the song tho, years later Blink 182 told him Pharell tried to give him the same exact song 1:12:00 Mark points out who can and cannot snitch: “G FACE is "DOOOOONE!!" 1:20:15 Being a host at Extra, Mark asked Al Pacino about Britney/Kevin Fed and he turned him down saying: "You're better than that!" and walked off Learn more about your ad choices. Visit megaphone.fm/adchoices