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Don and Tom unpack why even smart, financially literate people sometimes need a financial advisor — prompted by Morningstar's Christine Benz explaining why she hires one. They explore the value of second opinions, professional organization, tax guidance, spending permission, and succession planning. The conversation also draws lines around who doesn't need an advisor (DIY investors under 50 with good discipline) versus who does (retirees, disorganized investors, and anyone over 65 facing complexity). Later, they tackle listener questions about small-cap value ETFs — comparing AVUV, DFSV, and SLYV — and close with a retirement scenario review for a disciplined 77-year-old federal retiree. A lighthearted finish touches on long-term care insurance, empty nesting, and the Raiders' black hole stadium. 0:04 Reintroducing the need for financial help (but not that kind of help) 1:17 Christine Benz's surprising admission: she has a financial planner 2:27 The value of a “responsible second opinion” 3:25 Why Benz says peace of mind has real value 3:50 Reasons to hire an advisor: second opinions, tax guidance, rebalancing, perspective 4:54 When hourly financial advice makes sense 6:38 Organization and accountability as hidden benefits 8:08 The disinterested spouse problem 8:40 Why succession planning matters more than you think 9:32 “Permission to spend” — an underrated role of advisors 10:19 Who doesn't need an advisor: young savers and disciplined investors 11:27 When to get a second opinion even if you're DIY 12:18 Spotting bad advice and hidden annuities 13:03 Who does need an advisor: hodgepodge portfolios and over-50 investors 14:09 Complexity and the need for help beyond 65 14:47 The problem of small investors being preyed upon by salespeople 15:52 Listener question: adding small-cap value exposure 16:47 Comparing AVUV, DFSV, and SLYV performance and structure 19:00 Expense ratios and diversification differences 20:18 Don and Tom's ETF verdict 21:10 Retirement checkup: 77-year-old with pension and LTC coverage 22:06 Evaluating liquidity, income, and survivorship 23:48 The vanishing quality of long-term care policies 24:56 Tom's empty-nest plans and aching knee 25:43 Raiders jokes and the black-painted stadium Learn more about your ad choices. Visit megaphone.fm/adchoices

Christian College Sex Comedy: Part 24 Eve of the New Order In 30 parts, By FinalStand. Listen to the podcast at Explicit Novels.             Earned leadership is a blessing; assigned leadership is a burden   "Am I going to have to spank this little kitty to teach you a lesson?" Rio asked sweetly. Mercy vigorously shook her head in denial. "So you don't want me to do this?" Rio began energetically rubbing her fingers over the moist cunt. I was distracted from the rest of that exchange by Barbie Lynn's recovery. She climbed up my body, cheeks still full of my cum and staring at me with a mischievous hunger. At the moment I thought we were going to mimic the cum-swapping trick Ms. Lane and I had done, she went in another direction. Barbie Lynn leaned forward within inches of Vivian's face. Vivian reacted by pulling away, knocking the back of her skull against the headboard of the bed. "Barbie Lynn, I am not kissing you, and I am certainly not kissing you with Zane's, seed/semen in your mouth," Vivian insisted. Barbie Lynn mumbled something that sounded somewhat like 'but you'll like it' and did her best to look sexy, innocent, and inviting all at once. She would have had me convinced that brushing my teeth with uranium hexafluoride was the best thing for long term dental health too. Barbie Lynn pressed forward, Vivian held her back by putting a hand on each shoulder, and then Barbie Lynn transferred one of Vivian's hands so that it now supported one of Barbie Lynn's dangling tits. Realistically, Vivian was better at Karate than Barbie Lynn and could have blocked/resisted the blow, but Vivian had the ability to be remarkably compliant at the weirdest of times, like right now. Barbie Lynn was really close to doing as promised. "Please don't," Vivian asked softly. Barbie Lynn went one step further; she tapped her forehead to Vivian's forehead, smiled at her, and sat up, ready to swallow at last. "Wait, don't!" Rio cried out. She switched direction so that she was beside Barbie Lynn and they were the ones now actually kissing and letting my semen travel from tongue to tongue. When Rio got her share and then some, she spun rapidly back to Mercy and slapped that girl's thigh, motioning her up on her knees facing Rio. As Mercy reached the appointed position, Rio took her head in both hands and bore into a powerful oral exchange. One blowjob with three recipients, not my normal wake-up routine. That aforementioned bunch of guys is going to crucify me, upside down. Mercy went from slightly hesitant to rather animated in seconds, keeping tight to Rio as Rio tried to withdraw. Mercy's tongue lashed Rio's mouth a few more times before Rio pushed her back. "You like that, my Bang-bunny?" Rio taunted Mercy. "Do you like Zane's cream on your tongue and going down your throat?" "Yes," Mercy responded shyly, "yes, I like it very much." I waited for 'can I have another' and an inappropriate chorus from 'Oliver'. Rio didn't see things that way. She wrapped Mercy up by the waist and kissed her once more. "Okay, but since you are such a lousy cocksucker I am going to make you practice on Zane every night at eleven until you get it right, at least until the end of the semester," Rio scolded Mercy. "If that is what you want!" Mercy beamed. "Lord Jesus, save me," Vivian prayed for sanity to return to the room. "Oh, no, you are not," Barbie Lynn challenged Mercy and Rio's little scheme as she rushed to my rescue. "Not every night, anyway," she added. Maybe not rushing to my rescue after all. "The next lady to lay claim to my sexual favors, I'm going to make French kiss Ms. Marlowe during breakfast at the Dining Hall," I threatened. "Spread the word." "How is that going to work?" Rio snickered. "I don't know, but I've done every other inconceivable thing I've set out to do so why should this be any different?" I gave her a lopsided grin. "Yes, all of this is very nice," Vivian lectured, "but Zane only has seven minutes left to take a shower downstairs." We started to stampede for the exit. "Robes, towels," Vivian reminded us. She was rapidly learning many of the important skills one needs to become a mother to teenagers, a cat wrangler, or a prison guard. The Dawn of the New Order, like it or not.   It started at 6:45 as we began filing out of the dorm toward the dining hall and breakfast. We received texts, or our dorm mothers received them if we didn't have that function, assigning us a tribe we belonged to. What was a tribe? No one seemed to have a clue what this entailed for us.   "So," Iona was the first to ask me, "What tribe are you part of?"   "My tribe's called the Mediator tribe," I responded. "What lame-ass name does your tribe have?" Iona blinked at me, took my phone from my hands, and looked at it while we walked.   "Mercy and I are in 17," Rio sneered. "Why did your group merit a name and ours didn't?"   "Because Zane doesn't have a tribe," Iona figured. "He is not of the mediator tribe; he's a mediator. The real question is, how many mediators are there and what is their responsibility?"   "I'm in tribe three," Vivian volunteered. "I do have a notation but no indication who to see about it." The conversations around us were going in the same general direction, the girls trying to figure what sort of disruptions this would cause. The teachers put a kibosh on students walking around and finding out where their friends were placed so the text and phone messages being tossed around were obscene.   The surprise going to breakfast had saved virtually all of the freshmen from Handmaiden's Duty but they snapped us up heading for Assembly. I had Frederica Nicholas who decided to make a game of her giving me a word and me having to create a poetic verse. I rapidly learned the more risqu my verse, the more touchy-feely she became. (And she is a Rhaine supporter, huh?) I am a glutton for sexual foreplay no matter where it comes from.   Entry into the Assembly Hall brought its own special form of confusion. All the seats had numbers for the tribes that could sit there. I didn't find my group anywhere but I did catch the fact that Christina's group had been broken up. I stopped by Heaven to put a comforting hand on her shoulder because she looked terribly unsettled before I approached Ms. Goodswell on the stage.   My spiritual advisor stood up, walked to the edge of the stage, and knelt down so we could talk privately.   "Hi, Teach. I can't seem to find my groups/tribe's area," I said pleasantly. "Can you help me out? Hell, can you tell me what's going on?"   "Zane, your seat is right over there," she said, pointing to a chair on the front row, aisle seat. She smiled sadly. "All I can tell you about this program right now is that I trust you." Oh crap, that didn't sound good. Sitting on the front row, the region normally reserved for seniors, was just as disturbing. I sensed an epic boning in my future and I was sure I knew who the chick with the strap-on was.   Chancellor Bazz came to the podium and led us through the first ten minutes of the session. I could tell she was simmering with anger and resentment over whatever the upcoming fiasco was, and she showed it. She introduced Vice Chancellor Scarlett, then sat down abruptly. Her enthusiasm wasn't muted; it was buried in the core of the earth.   "Greetings, students of Freedom Fellowship University; I believe we stand at the first step to a great, glorious, and blessed experiment," Vice Chancellor Doctor Victoria Scarlett began. Her plan did sound grandiose, was certainly going to be famous (or infamous), and whichever supernatural powers put their mark on this train wreck, I was sure we'd discover the Arch-angel Morningstar also had his sulfuric fingerprints on it when the CSI's were finally brought in.   The basics of the scheme: There would be eighteen tribes of fifty or more members. Each tribe had all four grades in it but was focused on declared majors so that the girls could support one another. Each tribe would internally determine how they would regulate themselves as well. Externally, relations would be overseen by the Mediator, yes, that was in the singular, as in one: me.   At this point, I was wondering if jumping up, shooting Scarlett in the heart, and crying 'Sic semper tyrannis' was appropriate. I didn't have a gun and realistically, Victoria didn't deserve death for what she was putting all of us through. A few days in a pillory would suffice. No, she was making me be the 'Man' of our academic community, our judge and arbitrator.   As for my job qualifications, or lack thereof; I am considered morally loose, if not downright deviant. I'm an eighteen-year-old boy telling twenty-one-year-old women what to do, I have no legal experience, oh, yes, and half the campus hates my guts. I almost missed it when Doctor Scarlett added that Vivian would remain my guardian.   Maybe Vivian would throw herself in the path of a sharpened pencil, pen, or stylus aimed at my heart by any number of the young ladies that wanted me dead, just like a Secret Service Agent.   "You will be informed of the location of your first meetings. Each tribe will meet at eight o'clock tonight and tomorrow night to create the foundations of your group," Doctor Scarlett informed us.   "Tribes five and seventeen will be meeting in the Solarium of Alan Smithee dorm, if that is okay with Mr. Braxton." Victoria looked my way. I stood up in case anyone missed my discomfort for being called out and actually asked by a lead educator for anything resembling permission on this campus.   "Eight o'clock tonight?" I questioned. "I don't know if that works for me. I have a Brazilian body wax at eight and have scheduled my eyebrows to be plucked at 8:45, plus there is a new episode of NCIs: Los Angeles at nine."   "How about they promise to keep the noise level down?" Victoria volleyed right back at me without missing a beat.   "Very well, Doctor Scarlett, if you personally guarantee their behavior, I'm okay with them using my room," I allowed. I couldn't provoke Scarlett and I couldn't embarrass her, so I was back to facing her rear-bound artificial cock catching up with my behind. I sat back down. Victoria quickly exited center stage and a bitter Chancellor ushered us through the last of the service.   I waited outside the Assembly Hall for my friends and my Handmaiden for the moment, Theresa Yates. Christina and Chastity caught up with me first, both giving me a curious look.   "Bro," Rio sneered as she and Mercy joined us, "we need to discuss your future abuse of power, bribes and kick-backs you are going to get. Nice banter with ol' Scarlett too."   "Yes," Christina said sarcastically, "being flippant with the Vice Chancellor backfired so spectacularly the first time, it definitely needed repeating." Her criticism really sucked because I always secretly wanted her to think well of me.   "What's your plan?" Chastity prodded me. She was always helping me out when she got the chance. As she finished, Iona, Hope, Faith, and Heaven showed up.   "They split us up," growled Heaven. "Do something, Zane."   "He just found out about this," Iona responded before I could. "Give it time and combined, we will come up with a solution together." I sighed with some relief at her assistance and then I blinked. The powerful kiss I planted on Iona's lips caught everyone off-guard.   "Freaking brilliant!" I complimented her gaily, giddy with glee. I didn't have an actual plan yet but I had a direction to propel my thought toward. With my mind awhirl, I caught sight of Theresa moving past me on her way to class.   "Hey, Theresa," I called out. "What are you having me do today?" She looked a bit shocked.   "Zane, we are no longer allowed to call on you for Handmaiden's Duty," she informed me.   "Oh, He, ck no," I choked out. "Who says?"   "The Vice-Chancellor declared you to be outside the tradition," she stated sadly. I wasn't going to stand for this. Victoria was building a wedge between me and the rest of the student body.   "Iona, do that tech-thing that you do and inform the ladies that by the authority vested in me as mediator, I am reinstating myself as part of the Handmaiden's duty until, over half of the tribal leaders petition that I do otherwise," I announced.   "By tech-thing, do you mean send a text message with an accompanying e-mail to all the students on the school registry?" Iona regarded me quizzically.   "Zane," Chastity worried, "are you sure you have the authority?"   "Of course he has the authority," Rio declared. "He's the freaking mediator." Sometimes I would really like to get a word in before the conversation runs away from me.   I swatted Iona on the ass, she squawked.   "Chastity, this is clearly a game of chicken, so why not see how far Scarlett is willing to go," I replied. The look Christina gave me restored my faith in me; her eyes beamed at me, alight with an intellectual fire. I had one last thing to do while the chaos boiled one last time before the ebb: I hugged Rio.   "I want you to break into Gabrielle's place," I whispered in her ear, "wait for her to come get you, and tell her this: There is no Cordelia Dresden."   "Back off, Joker," Rio punched me. Rio trusted me not to put her in harm's way if I had another choice and Gabrielle knew that Rio would be the last person any sane individual would trust to do this.   She gave no hint of a reply to my request. The assumption was, if Cordelia didn't know what we were up to, she couldn't figure out a way to stop us, and right now I wanted a way for us out of her little game here at FFU. My current theory was that the girl I knew as Cordelia didn't exist before she came here, she was an invented personality, and I wanted to know who the inventor was.   Oh yeah, back to my actual life where my academic and social lives were in upheaval because my current nemesis (or one of them anyway) was a crusading idealist. I swear to God, if I survive this place, I will never forgive Aunt Jill for not sending me to the University of Hawaii, which was my first choice for college. All I had to worry about there was hurricanes, tsunamis, volcanoes, and the wrath of the island spirits for despoiling virgins, simple shit.   "Zane, you will discuss the merits and sins of the concubines of King Solomon with me," Theresa said, as she passed me her backpack to carry. Life rolled back to semi-normal and we separated to make our way to our first classes of the day. That illusion took another ill turn when I entered English class with Ms. Goodswell. She gestured for me to come to her desk before the lesson began.   "Zane," she informed me softly, "none of the female teachers or administrators at this school can give you orders, only suggestions. Only Doctor Jennings may truly compel you to do anything."   This bombshell was the reason she said she trusted me back in Assembly. The only one making me do the right thing was me. I had never considered me Mr. Responsibility before so I was in for a crash course in having authority over 900 students and 100 teachers. I told Virginia Goodswell about my decision concerning my Handmaiden's Duty to get her input, then compelled her to treat me as any other student, because apparently, I'm in charge of students now.   "There are old soldiers and there are bold soldiers, but there are very few old, bold soldiers," she reminded me. "Never forget, no matter how dark it may seem, Zane, you are never alone."   "I could always use a picture of you in a white, low-cut bikini to inspire me," I hinted.   "Mr. Braxton, by the authority vested in me by the mediator, I order you to take your seat so we can begin classes," she smirked. Oh, the irony: stymied by my own hubris.   Celia Wanamaker snapped me up coming out of English class. Vivian was waiting for me and Raven was in tow, right up until Paige snapped her up. Celia had me name a biblical character for each letter of the alphabet. Paige had Raven quote bible verses, backwards. As if there was any doubt my day could get worse, it did so immediately.   "Oh, the great Priest-King approaches!" screeched Rio on seeing me. "We all must genuflect, that's kneel down until your head touches the ground for you stupid bitches, until the Mediator passes." The horrible, horrible thing was that dozens of confused girls started doing just that.   "Hold on," I held up my hands for attention, "Hold on. Rio is mistaken. Genuflecting is only done during the Holy Days of Christmas, Good Friday, and Easter."   Okay, I made that up off the fly and I figured that I wouldn't be at school for Christmas, and Good Friday and Easter were next year and I'd worry about that then. For now:   "Emily, Rebecca, Henrietta, and Magdalena, please carry Rio to her next class, by the legs and arms," I instructed some of the closest students. "If a door or other object gets in the way, don't hesitate to use her head as a battering ram."   "Damn, Bro, that's harsh," Rio giggled from the floor. I knelt beside her.   "Yeah," I whispered, "like being man-handled by four girls isn't going to turn you on."   "Don't tell them that," she whispered back. I rose and continued on to class. A wiggling, squirming, cursing, and fighting Rio followed us.   I went through the same rigmarole in Biblical Archeology. I told the teacher that using my authority over students, I was instructing her to instruct me as if I was any other student, because I was a student and this was the area of my authority; right? She bought into my reasoning with some relief.   "How was it?" I mouthed to Rio once class was well on the way.   "Two hands all the way up the thigh, one knows I forgot my undies and was thoroughly soaked, two titties grabbed," Rio described what she'd been subjected to, "and I got to bite Magdalena's ass. I love those soccer player asses. You are most likely the best friend I will ever know; thank you."   "Always willing to help a fellow pervert out," I grinned back. Rio winked, then returned to work. I needed all the humor I could get because it was going to be a long damn day. By the time I made Marksmanship at three o'clock, I was damn happy to shoot something. I got some relief by having my best day ever, scoring a 53 (out of a possible 100) at the range. When I finished, I noticed a large number of my club mates standing close by.   WOMEN and the WORLD at LARGE   "Yes?" I questioned the ladies clustered behind me at the firing line.   "Oh, we are huddling behind your manliness," Daphne, one of the better shooters, joked.   "Manliness? Daphne, you just shot an 87. Hell, if you ladies want to be safe, stand in front of me, because apparently that's the one place my bullets don't go," I chided her.   That was a slight exaggeration. I was a pretty good shot out to 50 meters, but when I have to use binoculars to even see the target some of these girls are nailing, I know I have a long way to go.   "Zane, police your station," Hope instructed me. "Everyone, it is time for field training." This was the other part of marksmanship, sneaking around and spotting targets in the woods. We didn't use live rounds but it was still fun stuff.   "Gung-ho!" I responded to Hope. I'd heard that this was the battle cry of an Asian-American unit in World War II; Japanese I think.   "I'm Korean, Zane," Hope tried not to chuckle. "We are not exactly friends with the Japanese."   "If I stop saying it will you ask your Daddy not to come?" I inquired hopefully.   "If you keep saying it, I'll stop telling my Father I can't live without you," she countered.   "You can't live without me?" I questioned.   "Of course I can live without you, but I had to think of something to stop him from parachuting here in the dead of night and slitting your throat," she confided.   "You are joking; right?" I worried. Hope was nonresponsive as we got our gear together for the hike. "Hope, tell me that was a joke." Once we passed into the forest, Hope was quiet, business-like and nothing but. We were a mile into our trek when Hope settled down to study the environs. Per procedure, Hope watched to her front and left; I crouched at her back, facing away, and watched to our rear and Hope's right.   We would stay this way until Hope set up on the target, which was when I became her spotter. Since we weren't there yet, I scanned my area one more time, then cupped my right hand and reached behind me until I touched Hope's ass. I waited for a reaction of any kind but none came. Three seconds later I began to gently coast along her posterior, lightly squeezing her buttocks and rubbing along her cleft.   With a careful ear, I caught Hope's breath gaining in intensity. A few seconds later, she reached back and tapped my arm lightly so I stopped. Hope then rose carefully and we continued on our way. During the entire encounter, neither one of us had deviated from our watchfulness, which gave the whole situation a greater erotic appeal for me.   "Zane," Hope caught my attention as the last rifle and bullet was secured away, "I really wasn't sure how you would deal with me, being better than you. How do you do it?"   "All the training and skill in the world isn't worth a damn if you won't fight," I tried to explain. "A willingness to fight without talent is a waste. Hope, you didn't defeat me; you beat me."   She seemed to be searching for my definition of those two terms.   "Let's walk over to Orienteering before Heaven pops," I suggested. "We can both pin Heaven down but short of killing her, I'm not sure how to stop her." Hope chuckled at that assessment and nodded. "Hope, you put me on the mat and made me tap out, you beat me. You haven't discouraged me from coming at you when I feel I'm more capable, you haven't defeated me."   "Beating implies physical dominance but defeat is a state of mind," Hope replied as she stripped my definitions bare. I swung back my hand to spank her ass. Hope flinched slightly as instinct recognized the incoming blow and dictated a menu of responses, most of which involved causing me pain. I spanked her left ass cheek; Hope yelped and glared over her shoulder at me in feigned annoyance.   "You are a very verbose wench," I shook my finger at her.   "Do you want them to perform an extensive autopsy to figure out where I stuck that finger or are you going to remove it from my face right now?" she challenged me mirthfully. I stepped to her side, draped an arm around her waist; a second later she hesitantly echoed the gesture.   When we got to Orienteering, Hope and I parted company and I joined my fellow students as Heaven stood before us. The silence dragged on, and on until I finally felt compelled to raise my hand.   "Yes, Zane?" Heaven asked sweetly. You know; that 'sweetly' that says, I have an iron skillet to the head in my immediate future.   "Class? Are we going to have class today? Please?" I mumbled.   "I don't know, Zane," Heaven glared at me with a vicious smile stitched to her face. "Do we have your permission to have class today? Apparently we need to." Oh, fuck-buckets; Hope had probably had the same instructions and blown them off; Heaven was going a different way.   "I understand," I announced with dignity as I stood and walked up beside Heaven before facing the rest of the class. "As your appointed mediator, I think we should come forth and pray on the matter. All of you come to the front and kneel in a semi-circle; you too Heaven." I put a hand on her shoulder and put pressure on her to kneel beside me, right beside me.   The girls gathered around, Heaven was on her knees only inches from my crotch with her eyes flickering from my hard cock (I'm giving strong consideration to slamming that bastard in the middle of the US Tax Code to make it calm down) to my eyes. Soon I was in the center of a waist-level sea of slightly swaying female heads.   "Let us pray," I intoned. "Lord, guide us and give us strength to be true to ourselves, have faith in the gifts of insight, determination, and self-worth you have given us. Also, give us the vision to see what is wrong, the knowledge to understand when we hear things that are nonsense, and the will to forge past those words so that we find our own voice. In Jesus Christ's name we pray; Amen." "Amen," the girls said, at varying volumes and with varying conviction. They were all there, on their knees, staring at me. I swear to God, if one of them had 'Bahhed, I'd have died on the spot. "Okay, who believes I'm more qualified to teach this class than Heaven?" I began. Two girls started to raise their hands then self-consciously reversed direction. "You are all correct; I am totally unqualified to teach this class. I am totally unqualified to tell any of you to do virtually anything. I don't know more about life than any of the rest of you do. At eighteen, I'm younger than most of you. I'm a guy, nothing more. You ladies don't need me. Really, do any of you have any need of me whatsoever?" "Sex," blurted out of the mouth of Ruth, one of the senior club members. No one said anything for a few seconds. Okay, I could deal with this. "Fine, sex. With the Purity Pledge here, do any of you think you would need me for sex?" Twelve of the fourteen girls raised their hands; counting Heaven made it thirteen. I wanted to be anywhere else but in the deathtrap of my own creation. Screw that; I wanted to crawl into a deep, dark hole and pull the dirt in behind me. "We hear you are really good at it," Benios tried to explain things to me. "Brandi told us all about blowjobs. Those seem safe enough with the Pledge," Michelle added. Heaven started snickering at my expense. "All right, everyone," Heaven raised her voice as she stood up, accidentally squeezing my cock through my pants as she did so, "let's get started, and if no one screws up today, we can have Thursday's class in Zane's bedroom." We finished the last class for the day and started leaving our outdoor classroom when Ruth put her hand on my lower arm. "Zane, does a blowjob violate the Purity Pledge?" she asked. That wasn't really what she was asking. Why would I know the specifics of a pledge that everyone knew I hadn't taken? No, what she was asking was if she could experiment with oral sex with me. The other girls were not so surreptitiously hanging around for the answer. "Honestly, I don't believe that fellatio is an acceptable alternative to vaginal sex unless it includes cunnilingus," I bullshitted. I believed that, but I was hoping the lingo would buy me an exit. "What?" Ruth stammered. "Oh, I know that," Michelle giggled. "Fellatio is when you take a man's phallus and put it in your mouth, and cunnilingus is when a man puts his mouth, down there," she pointed at her crotch. "Zane, do you do that too? Put your mouth, Ruth hounded me. "Sure," I confessed. "Every man should, but in reality, it is more than tongue work", I wiggled my tongue, "but finger work too. All you have to do is think how your fingers feel down there, except this time they are under someone else's control and you have a strong, flexible muscle added to the mix." I instantly knew I was missing something with this audience. "You touch yourself; right?" I questioned. By many of the guilty looks, I could tell that most of the class had, but a surprising number hadn't, Ruth included. "I never have," Ruth replied. "I was afraid I'd stop being a virgin." I nodded, walked over to the closest tree, and banged my head against it. "That's enough for today," Heaven intervened. "We can pick up this wonderful, non-orienteering discussion next time." She ushered me away. I was rather thankful to get away and into the company of someone I trusted. "Are you ready for tonight?" "You mean am I waiting to pack your tight ass and drag my fingernails over your back until I draw blood? Yes," I grinned down at her. "Evil!" she giggled. "You are sinister, vile, and an aberration to all that is pure in the world." "Well, you are purely wonderful," I countered. "So is this a case of opposites attract?" "Do you like to see me that way?" my transvestite lover teased. "Your legs on my shoulders as I drive into you; on your hands and knees; you looking down at me as you slide down that first time, your ass cheeks bouncing, with my hands kneading them as you face away, but most of all, with your head on my chest, asleep, your hair spilling over your eyes as you lay there, that's the best," I related. "How can you be lusty and sweet at the same time?" she murmured. "It's how you make me feel, Heaven," I explained. "It is no mystery, you are that good to me." "Best boyfriend ever," she whispered, as she hugged my arm tight. On the final approach to Heaven's dorm, she gave me a nudge. "So, how did you beat the ten-second rule?" Heaven prodded me. "We have a ten-second rule?" I questioned. "We don't, silly; it's Hope's rule," Heaven grinned. "No one holds her for more than ten seconds. She has, had proximity issues." "We were intimate," I pointed out. "That probably helps." "I hope so," Heaven laughed. "The first time Christina and I barged into her room, we found ourselves staring down the barrel of a gun. Chastity was her roommate and she nearly freaked because she didn't know Hope had an automatic, much less slept with one under her pillow." "Note to self: never climb in Hope's window looking for a midnight hook-up," I sighed. "Hey," Heaven playfully grumbled, "if you are crawling in anyone's window for some late-night booty, it had better be my window and my booty you are after, Mister." "Or what?" I teased. "Are we back to me being in a deep, dark hole, you with the only key, dressed up for me in black strips of leather?" That description dated back to our first day on campus together when she hated my very existence. "Bitch," Heaven growled with frustrated desire. "I'll see you at the car in ten minutes, then." I gave a double pump of the eyebrows and left. We had been invited by Officer Danica Campbell of the Lancaster PD for a barbeque so we could get reacquainted. It was something Heaven was really looking forward to (not that I minded). Danica's house needed a little yard work but was otherwise an unremarkable ranch style house with an attached carport. Heaven's hands kept fluttering at her sides and straightening out her skirt. Me; I was in a long-sleeved pull-over and jeans and was having a much easier time of it emotionally. My only problem was our timetable; I had to be back before nine. We could smell the burning charcoal from the front yard but I indicated to Heaven that we weren't friends enough to simply walk around back unannounced. We rang the doorbell, then rang it again. Heaven was going for a third, nervous try when Danica opened the door. "Hey, you two, come on in," she greeted us, and stepped aside so we could enter. The first aura I detected in Danica's home was of benign neglect; the house was inhabited but no one actually lived here. Everything looked old but not worn, except for one chair and the cabinet around the TV which had VHS tapes (?) and scores of DVDs from the past ten years. Danica was in a lumberjack shirt, jeans, and deck shoes with a noticeable lack of bra, panties, and socks. "I'm glad you two showed up," Danica said, talking to us as we followed her through the living room to the kitchen. We could see the grill cooking away on a concrete patio through a sliding glass door. "I almost showed up last night," Heaven blurted out, then looked mortified. "You would have had to wait a while," Danica joked. "I worked last night." "I would have put her to sleep on the doorstep, covered her in a blanket, and given her a garden gnome to use as a pillow," I joked. Heaven blushed furiously and punched me in the arm. "Be careful, Mister Braxton," Danica threatened me with a wink, "I have handcuffs, pepper spray, and a taser, behave." I was hoping that comical exchange would have reduced the tension. It almost worked. As Danica opened the sliding glass door, she turned to say something. I have no idea what it was that got into her but at that point, Heaven threw herself at our hostess, wrapped her arms around Danica's neck, and kissed the lady cop. Danica staggered out the door onto the patio, grabbed the doorsill before they toppled over, and after her obvious moment of panic, put her other arm around Heaven's waist. Third Wheel Syndrome was kicking in for a while as the two kept tickling each other's tonsils and rubbing their bodies together. "I, ah, wanted to kiss you since I talked to you on the phone," Heaven finally said. Danica stroked a finger along Heaven's left earlobe, wiggling it back and forth. "Mission accomplished," Danica smiled. "You don't date much, do you? That's not a condemnation; it's just, you have a raw intensity I haven't seen in a while. I like it." Heaven looked ready to dive into another lip frenzy when our hostess held her up. "Let's check on the grill, unless you like your pork chops and chicken burnt as hard as the coals that made 'em." Heaven gave Danica enough lead to make it to the grill and open it up. My friend coughed and choked as the smoke billowed out; it was Heaven's first outdoor barbeque, or at least the first that didn't involve a professional pit master and a whole steer. "Give her some room," I cautioned Heaven. "I hear those things are hot." It was my first time too, but they had similar things in Thailand so I wasn't totally lost. Eventually, I was forced to wrap my arms around Heaven from behind to keep her from bouncing all over the place. Her enthusiasm didn't bother me; she was fun and felt she had a lot of catching up to do. We chatted about her work and our school machinations. Danica made a crack about me and women putting me on my back, funny like a crutch. We gathered in her living room; it was the only room that had the seats to meet our needs with the meat, coleslaw, hush puppies, and lima beans to eat. There was the promise of sherbet if dinner didn't fill us up. Things were going so smoothly that I almost missed Danica's little ploy. "Heaven, since you are getting a beer, would you get me one too," Danica off-handedly mentioned. We were finishing up the meal and washing it down with the appropriate beverage, lemonade in my case and beer in theirs. "Sure," Heaven smiled warmly, and off she went. She didn't hear Danica get up and follow her into the kitchen, though Danica did give me a wink. The moment Heaven pulled the two lagers out of the refrigerator, Danica slipped up behind her and pressed her body into Heaven's. For a second, Heaven thought it was me and was looking over her shoulder to chastise me. I was following but was hanging back. "Zane, then she noticed it was Danica, "Huh?" "Hey, Precious," Danica purred to her, "it seems your hands are occupied;" gesturing to the beer in each. Danica stretched her arms around and cupped Heaven's breasts and began massaging them. Heaven tried to twist around but Danica didn't let her. She bit into Heaven's neck instead, sucking up and down from ear to shoulder. "The last time you snuck up on me; now it is my turn. How does it feel?" Danica continued. She pressed Heaven up against the refrigerator door, grinding her there for a while before letting Heaven turn and faced her. "It feels good," Heaven gulped, "but I know some other things I want to do to you that are better." Danica answered that by sensually sliding down Heaven's body until she was kneeling. From there she lifted Heaven's skirt, pulled down her double panties and started making kissing/slurping noises that made Heaven shudder in anticipation. Danica was bobbing in a slow, languid style that was pushing the tranny toward her own internal blaze. I saw the opportunity to come up and relieve Heaven of her beers before she dropped them. Heaven's hands dropped immediately to Danica's head and trembled with the desire to push Danica farther and farther down her cock. Danica held her off, having more blowjob experience than Heaven and I combined. I took the time offered to remove all our shirts and Heaven's bra before alternating kissing Danica's neck and back while playing with her tits, and going to Heaven and kissing her and teasing her nipples with my teeth. She was over-eager and was tapping Danica's crown inside a minute, indicating the shortness of her fuse. Heaven gave a muted squeak followed by, "Oh, God, that's so fucking good, take it, oh, God, take it!" Danica did a masterful job of soaking up everything Heaven had to give and draining her dry afterwards. Danica had to hold Heaven's hips to stop my lover from sliding to the ground on her ass. "I think we will all be passing on the sherbet," Danica grinned while licking her lips. Heaven nodded, first shakily but soon with much more assurance. I kicked off my shoes in my own endorsement of this plan and we were soon all migrating to Danica's bedroom. Heaven, new to the romantic aspects of sexuality, dove straight onto the bed and shimmied out of her skirt. Danica and I stopped at the foot of said bed and shed our pants (and underwear for me). As Heaven looked at us, I pulled Danica's hair aside and began kissing her from right beneath her ear down to the nape of her neck. Danica responded by pressing her backside into me and gyrating her ass on my crotch. Danica ran her left hand behind her back and began moving it sensually along my stomach to the base of my cock and up again. Her right hand stroked my thigh and hip on the other side. I countered by moving my left to her left breast, mauling it but leaving the nipple unmolested for now. My right hand went in a serpentine fashion to her crotch and hovered right above her clitoris. We played tag with our intimate parts long enough for Danica to start sweating and moaning against me. "Why aren't you married, again?" she snickered. "Oh, yeah, you being eighteen and all." "Are you too much woman for one man?" I countered. "Actually, I've been looking for someone special," she confessed, but she wasn't looking at me when she said it. That wasn't lost on Heaven either; her jaw dropped. "Don't freak," Danica reassured her. "I know we don't have much in common, I'm a townie and you're a rich girl from somewhere else, but we have until spring if you want to hang out." It took Heaven a few moments to digest that. "I'd like that, Danica; I'd like that a lot," she smiled. "Well, I'd like it if you came over here and kissed me before your boyfriend drives me totally nuts," Danica teased her. Heaven got on her knees and waddled to the end of the bed to join us. "Wait," Heaven said at the last second, eyes wide with surprise. "I have a boyfriend and a girlfriend, I rock!" and then she dove into Danica's lips. Danica was propelled into me by Heaven's passionate embrace. She reciprocated by moving her hand off my hip and onto Heaven's semi-rigid cock. Heaven's phallus hardened quickly enough and she upped the tempo by buoying up her breasts and initiating a nipple fight between her tits and Danica's, wow, a freaking advantage I hadn't thought of. "Let s, Danica gulped for air " get on, the bed. I want some, of this, in me," she pulled on Heaven's cock. Oh, yeah, this was the Heaven-Danica show and I was second fiddle, and I felt it was glorious. 'You are known not by what you do but by what you leave behind,' or so yet another saying goes. Danica and Heaven were happy with one another, even if only for a little while. That 'while' included Heaven retreating up the bed as Danica followed and I pursued her. "Have you been a good girl?" Danica quizzed Heaven. "Do we need a condom?" clarified the issue. "No, no, I've only been with Zane," Heaven answered. "That's hardly a ringing endorsement for safe sex," Danica chuckled. "Damn, that's just cold," I groaned. "For your information, if my partner wasn't a virgin, she was someone I know intimately." "So you are not doing it with that Warlord chick living in your house now?" Danica persisted. "How do you even know about that? It happened Sunday," I wondered. "Zane," Danica sighed patiently, "I'm a cop and your house is like two miles away." "Can we get back to concentrating on the sex?" Heaven grumbled. "I'll wear a condom if you want. I'll wear a harem girl outfit if you want, as long as it leads to sex with you." "That won't be, necessary," Danica murmured as she positioned Heaven's cock between her labia then began to push down. I was working out what my place in this could be when I spotted the bottle of lubricant (generic) boldly sitting on Danica's nightstand, not very subtle at all. I shifted over, got the bottle, then got around behind them once more. "Can I join in?" I asked. "I trust you," Danica purred. Silly her; I'm behind her with a source of lube and a passion to use it. I poured some out on Danica's cleft and let it ooze down toward her cunt. I let it cascade over three fingers before sealing it up again. With my left hand, I began working a finger into Danica's anus, and with my right, I worked another into Heaven's. "Oh," Danica grunted, as I slipped past her sphincter. Heaven's response was to moan sensually. It took me a little while to not only work a finger in but a second one in as well; then the fun began. With Heaven, I began both pumping and making a series of circular motions; with Danica, though, I pressed down until I was counter-massaging Heaven's cock through the walls of her rectum and cunt. "Oh, my fucking God!" shouted Danica. "That feels great; she's really grinding against me." "Keep that up," gasped Heaven. "I, I can feel your fingers." Okay, I got this one right. I could also feel the sympathetic impulses growing between Danica's vaginal walls and Heaven's cock; they weren't going to last long. Drilling Heaven's butthole in rapid-fire fashion sent her crashing ahead of the wave. "Dan, Dan, Danica, Hell, yeah!" Heaven screamed as she slammed upward into the lady cop. Danica's back bowed and a low growling noise reverberated through her body. Both tried to use their anal muscles to grind my finger bones together; for the orgasms they were riding through, it was worth it. Danica shivered through one last orgasmic burst then settled gently down on Heaven. Heaven reached around with her arms and ran them up and down Danica's back. Our hostess pushed off her lover's body with her elbows on the mattress and kissed her nose. "That felt wonderful," she smiled down at Heaven. Heaven didn't immediately respond. "Is something wrong?" Danica worried. "I, um, it was really nice, Danica, but, Heaven worked through the words. "But?" Danica asked. "But I think I'm into guys," Heaven gave her worried confession. "I'm sorry; what we did felt good but what sent me over the top was, " "Oh," Danica seemed to deflate. "Hold on," I intervened, even as my fingers were still slowly working them both. "Heaven, you liked Danica's blowjob; right?" "Yes. It was wonderful," Heaven brightened up. "She's, you are, she looked into Danica's eyes " the best I've ever had." "Still, you like it up your ass, don't you?" I prodded. Heaven bit her lip and rolled her head to the side. Danica pushed herself onto all fours and sighed. "Well, damn," she sighed, "I was sort of hoping, " "Danica, would you consider screwing Heaven's ass? Giving it a chance?" I hazarded. "I'd give it a shot," Danica replied after a moment's hesitation. Being with a girl was new; being with a transgender was new; and now being the driving force in anal sex was going to be new too. "I'll get dressed and go out to the car," I winked. "Surprise, surprise; I worried something like this would happen so I brought a few things along." I was afraid that when I got back from the car with my backpack holding the strap-on, that a chill would have set in. I shouldn't have worried; Danica was surprisingly passionate and Heaven was sheer surprise itself. They were cuddled face to face exchanging small kisses and stroking each other's hair. "I just want you both to know," Danica held up a warding hand, "if that thing is longer than my arm, I'm calling this off." I presented the device for her approval and while it could be intimidating, it wasn't scarier than Heaven's normal equipment. "I'm glad that's going into you and not me," Danica ended up teasing Heaven. Not to be outdone, Heaven rolled onto her stomach and wiggled her upraised ass in the air. "Oh, she's begging for it," Danica laughed. "Yes, she does, and if you think that's sweet, imagine how nice it is to wake up with her ramming that pole in while riding you," I painted the picture. "Is there any position she doesn't like?" Danica inquired. "I'm right here, my ass up in the air. Please, somebody do something," Heaven whined. "Not that I know of," I ignored Heaven's plea. "You could try it in the shower, bent over the sofa, heels up in the La-Z-Boy, or hanging from the pull-up bar, she's quite strong." "Oh, hmm, thanks, Zane; I'll explore those opportunities," Danica grinned. "Hello, ass here, needs stuffing," Heaven became more insistent. "She's shameless," Danica teased happily. "Absolutely," I laughed, "but if one of us doesn't fulfill her needs real soon, violence will ensue." "Zane, you warm her up and I'll figure out how to put this thing on," Danica instructed me as she took hold of her sexual toy. "About damn time," Heaven panted as I worked my first finger in again. I'd oiled up several fingers before handing the lube to Danica to prepare her artificial cock with. Heaven's anus was already pliable from our activity so it took only two minutes to work the second and third finger in. By that time, both Danica and Heaven were ready. "This is weird," Danica mumbled, as she placed her phallic head against Heaven's sphincter. "Let me know if this, she got out before Heaven pushed back and gasped. "Doesn't that hurt?" "Makes me feel full," Heaven gasped. "Push." Danica did indeed push, and spanked Heaven for good measure. Now that I was freed up again, I elected to recline beside Heaven and watch her get fucked by Danica. Heaven and I made eye contact; that totally free, blissful look was exceptionally special for me. I'd seen Heaven afraid far too often. I'd seen her furious far too often as well. "Zane," Heaven perked up, "get over here. I want your cock. I want it coming and going." "Revenge," taunted Danica. Heaven and I had given Officer Campbell simultaneous oral and anal sex, and now Heaven was getting the same treatment. I sat my ass on the pillow in front of Heaven's face, legs spread wide. She grabbed my cock in both hands (my cock is so massive, its ability to block out the Sun often cows primitive tribes, or maybe Heaven has small hands) and yanked it forward somewhat painfully until she could lick the tip. "Come on, Zane," Danica egged me on, "take hold of her head and fuck her like a cheap slut." A shudder passed head to foot through Heaven's body and she gave out a small sob. "Heaven," I asked cautiously, "do you want to stop?" "I'm being fucked like a slut, Zane," she replied tearfully. "I'm being fucked like a slut." You never know with some people. Danica gave me a worried look so I gave her a quick smile and a nod. Heaven wanted to be a woman, but almost as important was that she wanted to be seen and treated like a woman. It may have played out in Heaven's imagination that she had gone to some seedy bar looking all hot and sexy, then a couple had picked her up so they could treat her like a bad little girl. I raised my hips, feeding more of my cock into Heaven's mouth. "Spank your bitch's ass," I teased Danica. She responded by alternating noisy but not very painful slaps to our tranny's buttocks. Heaven wanted the tease, not the real pain, and Danica was right there for her. Once we had a good rhythm going, I could feel Danica's cock slamming at its deepest impact, Heaven squirming and squealing with the pleasure and her tongue and throat swirling around my oral intrusion. She slurped and sucked desperately while a small amount of drool marked her cheek and jaw. Heaven began making whimpering noises along with the grunts when Danica drove in deeper. All the sizzling sex I'd been forced (yeah, right) to watch sent me over the edge first. "Heaven, babe, here it comes," I chanted several times before I finally did shoot gobs and gobs, so much it shot out her nose and mouth. Okay, not really that much, but I certainly felt some relief. &l

The Global Financial Literacy Excellence Centre (GFLEC) at Stanford University has created a three question financial literacy quiz that has been used in more than 20 countries. Mark and Shani run through the three questions, and add a couple of their own.A message from Mark and ShaniFor the past five years, we've released a weekly podcast to arm you with the tools to invest successfully. We've always strived to provide independent, thoughtful analysis, backed by the work of hundreds of researchers and professionals at Morningstar.We've shared our journeys with you, and you've shared back. We've listened to what you're after and created a companion for your investing journey. Invest Your Way is a book that focuses on the investor, instead of the investments. It is a guide to successful investing, with actionable insights and practical applications.The book is now available! It is also available in Audiobook format from most sellers.Purchase from Amazon or Purchase from BooktopiaTo submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

How is the weakening dollar affecting your portfolio? The world's reserve currency fell sharply in the first half of 2025, making it a bruising year. It has recovered some but still sits below where it started the year. Other currencies like the euro, Japanese yen, and Mexican peso look stronger against the greenback. Several factors could influence whether the dollar roars back or recedes. Why should the dollar's performance matter for everyday investors like you? Morningstar Indexes strategist Dan Lefkovitz explains why and what you can do to protect your portfolio from currency fluctuations.The bifurcation of the stock market is appearing to divide investors into two camps. There's a lot of optimism baked into share prices of firms seen as leaders in artificial intelligence, according to Dan Kemp, chief research and investment officer at Morningstar Investment Management Europe. The Market Brief author points to Tesla TSLA as a great example, since investors are ascribing significant value to the company's unproven, future products. Meanwhile, there's a lot of pessimism in parts of the market that are not involved in AI. Kemp reminds investors to look for undervalued opportunities in the unloved areas of the market.The US Dollar's Value Is Down—and These 3 Investments Are Way, Way UpOn this episode:What has been going on with the dollar? A lot of worried investors are likely asking the same question: How is the stock market going up in this macroeconomic environment? And why are bonds doing well?You have written about the implications for a declining dollar. The dollar and gold typically compete as safe haven assets. It looks like gold is winning this year. Why is that? International stocks are outperforming US stocks this year. How does currency play into this? Our colleague Morningstar Inc portfolio strategist Amy Arnott joined me on Investing Insights for the Oct. 24 episode. She said investors might be underweight in international stocks despite recent performance. What case would you make to convince folks to consider increasing their overseas exposure? Emerging-markets debt is another asset class winning thanks in part to the dollar. Why does Morningstar find this fixed-income segment attractive? What risks could threaten the dollar's dominance in the future?Why should everyday investors who are saving for retirement or other goals care about whether the dollar falls or rises? And how can they hedge their bets?Earnings season is underway. You've written about how it can be tempting to tweak a portfolio when companies share their forecasts. What should investors keep in mind?In this week's Markets Brief, you wrote about how optimism about Tesla's unproven future growth opportunities highlights what's going on in the broader market? Can you explain?What are you keeping an eye on for next week's column? Watch more from Morningstar:2025's Winners and Losers, from Gold to Small Cap Stocks to the 60/40 PortfolioThe Stock Market Is Ultra-Concentrated. Here's How to Manage the Risks.New Crypto ETFs Are Coming. Here's How Investors Can Prepare Follow Morningstar on social:Facebook https://www.facebook.com/MorningstarInc/X https://x.com/MorningstarIncInstagram https://www.instagram.com/morningstarinc/?hl=enLinkedIn https://www.linkedin.com/company/morningstar/posts/?feedView=all Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Morningstar's Malik Ahmed Khan talks about the very different earnings stories between Alphabet (GOOGL) and Meta Platforms (META). When it comes to Meta, Malik highlights the key disconnect between the social media giant's capex spend on A.I. compared to Mag 7 peers like Alphabet (GOOGL), Amazon (AMZN), and Microsoft (MSFT). Speaking on Alphabet, he was surprised by Google's search resilience and expects Google Cloud to continue robust revenue growth.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Iconic brands like Louis Vuitton, Gucci, and Cartier are facing slowing sales and falling share prices, but is this the end of an era or just a temporary pause? A new Morningstar report suggests it’s cyclical, not structural, and for savvy investors, that could mean opportunity. The big questions: how to reignite Chinese demand, appeal to younger shoppers, and spot the best investment plays in luxury right now. On Wealth Tracker, Hongbin Jeong speaks to Jelena Sokolova, Senior Equity Analyst, Morningstar, to find out more.See omnystudio.com/listener for privacy information.

Today on the podcast, we're going to be chatting with Heather and Doug Boneparth. They're co-authors of a new book called Money Together: How to Find Fairness in Your Relationship and Become an Unstoppable Financial Team. Heather and Doug know a little something about money in relationships. As you may have guessed, they're married. Heather worked as a lawyer for more than a decade before joining the family business as Bone Fide Wealth's Director of Business and Legal Affairs. She also co-authored the couple's first book, The Millennial Money Fix. Doug is a certified financial planner and founder of Bone Fide Wealth, a wealth management firm in New York City. He serves on the advisory councils of CNBC and Investopedia.BackgroundBioMoney Together: How to Find Fairness in Your Relationship and Become an Unstoppable Financial TeamThe Millennial Money Fix: What You Need to Know About Budgeting, Debt, and Finding Financial FreedomBone Fide WealthThe Joint Account: Helping Couples Talk About MoneyFinances and Couples“Beyond Prenups: Building Financial Intimacy Before Marriage,” by Heather Boneparth, helloprenup.com, Aug. 5, 2025.“I Graduated From College With Over $200,000 in Student Loans. Here Are the Things I Wish I Could've Told My Younger Self About Debt,” by Heather Boneparth, businessinsider.com, May 27, 2023.“Six Financial Red Flags You Can't Afford to Ignore,” by Heather and Doug Boneparth, thejointaccount.com, Feb. 26, 2025.“Op-Ed: Allowances Are for Kids—Not Your Spouse,” by Heather and Doug Boneparth, cnbc.com, April 13, 2024.“Why Financial Transparency Might Be the Best Valentine's Day Gift You Can Give,” by Douglas Boneparth, Investopedia.com, Feb. 14, 2025.“Show Your Work, Fellas!” by Heather and Doug Boneparth, thejointaccount.com, June 4, 2025.OtherManisha Thakor“Manisha Thakor: Finding Your Enough,” The Long View podcast, Morningstar.com, Aug. 8, 2023.Brené Brown“Financial Literacy, Financial Education, and Downstream Financial Behaviors,” by Daniel Ferndandes, John G. Lynch, and Richard Netemeyer, researchgate.net, August 2014. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the world of investing, success often hinges on more than just numbers and market trends. Too much financial commentary focuses on investments rather than the people investing. There are way too many aspirational messages that lack the practical steps to put a plan in action. In the latest podcast episode, I welcome Shani Jayamanne, co-author of the book "Invest Your Way: How to Grow Your Wealth on Your Terms." co-authored with Mark Lamonica.Blog post available at: https://www.sharesforbeginners.com/blog/shani-jayamanne-investWatch on YouTube right here.

Lululemon (LULU) announced that it will begin selling an NFL apparel line for all 32 teams with men's, women's and accessories offerings. "It's a sign that Lululemon is becoming a more mature sports company," says Morningstar's David Swartz. He says LULU has a big opportunity in men's retail believing sports-related apparel could expand that consumer base. David does say the move will more directly square LULU against Nike (NKE) and adidas (ADDYY) in the sports retail space.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-...Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-...Watch on Sling - https://watch.sling.com/1/asset/19192...Watch on Vizio - https://www.vizio.com/en/watchfreeplu...Watch on DistroTV - https://www.distro.tv/live/schwab-net...Follow us on X – / schwabnetwork Follow us on Facebook – / schwabnetwork Follow us on LinkedIn - / schwab-network About Schwab Network - https://schwabnetwork.com/about

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Buying a home is a financial goal for many of us. Mark and Shani go through the questions you need to ask yourself to get clear on whether it is the right decision for you.You can read the full article here.A message from Mark and ShaniFor the past five years, we've released a weekly podcast to arm you with the tools to invest successfully. We've always strived to provide independent, thoughtful analysis, backed by the work of hundreds of researchers and professionals at Morningstar.We've shared our journeys with you, and you've shared back. We've listened to what you're after and created a companion for your investing journey. Invest Your Way is a book that focuses on the investor, instead of the investments. It is a guide to successful investing, with actionable insights and practical applications.The book is now available! It is also available in Audiobook format from most sellers.Purchase from Amazon or Purchase from BooktopiaTo submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

This year's uncertainty is producing a somewhat surprising group of winning and losing asset classes. And there are still two months to go in 2025. Many investors are rerouting their investments into different asset classes because of geopolitical risks like the US trade war, elevated inflation, and high interest rates. A more recent development is the budget battle in Washington, D.C. While the macro environment is pressure-testing portfolios, it's also serving as a reminder about the benefits of diversification. So, which asset classes are leading and lagging as 2025 prepares to wrap up? And how's the classic 60/40 portfolio holding up? Morningstar portfolio strategist Amy Arnott has examined the data.The hunt for cockroaches may produce opportunities for patient investors. JPMorgan Chase CEO Jamie Dimon reacted to First Brands' and Tricolor's bankruptcies saying, “When you see one cockroach there are probably more.” Dan Kemp, chief investment research officer at Morningstar Investment Management Europe, says people are looking for more cockroaches to emerge due to weak lending standards via private credit. Despite the bankruptcies primarily involving the US markets, European banks took the hit. Kemp says there are bargains and more could surface if there are additional bankruptcies.Can the Gold Rush Continue? Warning Signs for InvestorsOn this episode: Market volatility has recently increased. Can you talk about what's fueling it? We're going to talk about asset classes that are winning and losing so far this year. Let's start with the leaders. Gold hit record highs this year, but a sharp selloff this week has stopped the rally. Who's been buying gold?Cryptocurrencies have been on a tear despite a recent big selloff due to the US trade war. The volatile sector has rebounded. What's driving its performance?We've talked on the podcast in the spring about the outperformance of international stocks. Is the streak still going, and do overseas opportunities still exist? We're now focusing on the three losing asset classes. The real estate sector is having a tough year. Can you give us the details? Why are US small-cap stocks and some bond segments lagging? How is the government shutdown affecting the demand for US Treasuries? Could this affect their safe-haven status?The US dollar isn't having a great year either. Could the world's reserve currency weaken even more? How has the popular 60/40 portfolio—made up of 60% stocks and 40% bonds—performed? What about other popular portfolios, such as the three-fund portfolio or the more diversified portfolio your team looked at in the Diversification Landscape? What's the takeaway for investors as they brace for more market volatility?The stock market tumbled earlier this month, and cryptocurrencies like bitcoin and Ethereum fell with it. There's the argument that crypto can serve as an effective diversifier for stocks. What's your take, and what has filled the safe haven role this year?In this week's Markets Brief, you wrote about weaknesses in the financial services sector and a so-called cockroach hunt. Can you explain what's going on, and how patient investors can find opportunities?What do you plan to highlight in next week's Markets Brief? What to watch from Morningstar. The Stock Market Is Ultra-Concentrated. Here's How to Manage the Risks.New Crypto ETFs Are Coming. Here's How Investors Can PrepareHow Inflation, AI, and Budget Battles Will Shape the Stock Market in Q4 Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tune in to another episode of Give The People What They Want! with Peoples Dispatch editor Zoe Alexandra, Indian journalist Prasanth R, and Roger McKenzie, international editor of the Morning Star. This week, they discuss the intensifying US threats and attacks in the Caribbean, Israeli violations of the ceasefire agreement, the ban on Maccabi Tel Aviv fans for the Aston Villa game, the 80th anniversary of the Manchester Pan-African Congress, expectations from Japan's new right-wing prime minister, and the No Kings actions in the United States.

Tesla (TSLA) reported yet another earnings miss Wednesday after the closing bell, though Andrew Graham believes its A.I. and robotics prospects overshadowed the earnings. However, he sees "big risk" for Tesla's autonomous driving future as it takes a "camera only" approach versus more expensive tech like LiDAR. Morningstar's Seth Goldstein explains why his firm upped their Tesla price target — though it still falls well below the current stock price. The big risk he sees: Tesla's business being largely limited to the U.S.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

October 2025 Sustainable Stock and ETF Picks. Top sustainable companies, best renewable energy stocks related to Chinese emission cuts, plus… By Ron Robins, MBA Transcript & Links, Episode 160, October 24, 2025 Hello, Ron Robins here. Welcome to my podcast episode 160, published on October 24, 2025, titled “October 2025 Sustainable Stock and ETF Picks.” This podcast is presented by Investing for the Soul. Investingforthesoul.com is your go-to site for vital global, ethical, and sustainable investing mentoring, news, commentary, information, and resources. Remember that you can find a full transcript and links to content, including stock symbols and bonus material, on this episode's podcast page at investingforthesoul.com/podcasts. Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, and I don't receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal any investments I have in the investments mentioned herein. I have a great crop of 10 articles for you in this podcast! Note: Some companies are covered more than once. ------------------------------------------------------------- Sustainable Companies: 50 Top Investments For Sustainability on investors.com This first article could provide you with several investing ideas. It's titled Sustainable Companies: 50 Top Investments For Sustainability on investors.com. The introduction is by Anne Stanley. Here are some quotes from Ms. Stanley. “The top ranks are filled with financial services, utility and consumer companies… To build IBD's 2025 list of the Most Sustainable Companies, we started with Morningstar's U.S. and global Low Carbon Transition Leaders Indexes… The stocks had to have a price of $10 or more and sufficient data to create an IBD Composite Rating. We further qualified the list by removing stocks that did not meet or beat the S&P 500 in the past five years. We selected the companies with the highest IBD Composite Rating — all with scores of 80 or better. Finally, we ranked the companies by their Morningstar Sustainalytics climate management score, using the IBD Composite Rating to break any ties.” End quotes IBD's top 5 companies for 2025 are Eaton (ETN), Bank of Montreal (BMO), Stantec (STN), Loews (L) and TJX Companies (TJX). ------------------------------------------------------------- 10 Stocks and Funds that Benefit from China's Emissions Cuts on morningstar.com This second article might seem a little unusual. To see why, here's the title. 10 Stocks and Funds that Benefit from China's Emissions Cuts on morningstar.com. It's by Leslie P. Norton. Some of the investments are Chinese, which might bother some people; nonetheless, they will appeal to many others who follow this podcast. Here are a few quotes and some picks from the article. “China has announced plans to cut greenhouse gas emissions by 7%-10% from peak levels by 2035. This is the first time the country has committed to an absolute emissions target. In a video address to the United Nations, President Xi Jinping also said that China would boost wind and solar capacity sixfold from 2020 levels and increase the share of non-fossil fuels to more than 30% of total energy consumption… Who Benefits from China's Emissions Cuts? China will also accelerate its voluntary carbon market and carbon certificates, which companies can trade to offset their own emissions. Kathlyn Collins, head of responsible investing and stewardship at Matthews Asia [says]…‘With the increase in terms of focus on emissions reduction from intensity to absolute emission levels, more and more industries will come under the purview of the emissions trading scheme.' According to Collins, the main beneficiaries will be battery storage systems, grid infrastructure upgrading, smart grid metering, energy management systems, environmental consulting, monitoring compliance, and of course the continued buildout of renewables and lean power. Stocks That Could Benefit From China's Emissions Cuts Name Ticker Daily Price Base Currency Sungrow Power Supply Co Ltd Class A 300274 CH 157.50 CNY Contemporary Amperex Technology Co Ltd Class A 300750 CH 380.40 CNY China Yangtze Power Co Ltd Class A 600900 CH 27.47 CNY China Longyuan Power Group Corp Ltd Class A 001289 CH 17.40 CNY JinkoSolar Holding Co Ltd DR JKS $24.10 JA Solar Technology Co Ltd Class A 0024569 CH 12.81 CNY Trina Solar Co Ltd Class A 688599 CH 16.63 CNY Source: Morningstar. Data as of 09/26/2025. For US Investors, Funds That Could Benefit From China's Emissions Cuts Name Ticker Daily Price Base Currency KraneShares MSCI China Clean Tech ETF KGRN $30.89 Invesco Solar ETF TAN $43.37 iShares Global Clean Energy ETF ICLN $15.19 Source: Morningstar. Data as of 09/26/2025.” End quotes. ------------------------------------------------------------- 3 AI Infrastructure Stocks Riding the Coming Power Crunch on finance.yahoo.com For many ethical and sustainable investors, this next article adds a few new company names to consider. It's titled 3 AI Infrastructure Stocks Riding the Coming Power Crunch on finance.yahoo.com and is by George Budwell. Here are some quotes from Mr. Budwell. “1. Iren Ltd. (NASDAQ: IREN) has transformed its roots as a Bitcoin miner into a broader play on high-performance computing. The company is redeploying its energy-intensive infrastructure to support artificial intelligence, acquiring massive GPU fleets that include Nvidia's B-series accelerators and AMD's (AMD) new MI350X chips. That pivot is already showing up in the numbers: revenue climbed 226% year over year to $187 million in Q4 fiscal 2025, while gross margins improved as higher-value AI services began to supplement traditional mining… The stock has surged 326% year to date, reflecting investor enthusiasm, but the AI cloud segment is still in its early innings. The main risk is utilization: if customer demand doesn't keep pace, expensive GPUs could sit idle while fixed costs pile up. Still, Iren has so far executed well on its transition, positioning itself as one of the more credible emerging players at the intersection of compute and energy. 2. Applied Digital (NASDAQ: APLD) designs and builds AI-optimized data centers from the ground up. Its flagship Polaris Forge campus is planned to scale to 1 gigawatt of capacity -- enough to power a small city. A marquee lease with CoreWeave (CRWV) validates demand for its high-density facilities, but the stock already trades at roughly 34 times trailing sales, far above peer multiples. That valuation captures both the upside and the risk. If Applied Digital delivers on schedule and secures high utilization at premium rates, early investors could see outsized gains. But construction delays, cost overruns, or permitting issues could quickly erode returns. The stock's sharp swings this year underline just how much speculation is embedded in today's price. 3. Poet Technologies (NASDAQ: POET) is targeting one of AI's hidden bottlenecks: the energy cost of moving data inside data centers. Its optical interposer platform uses light instead of electricity for chip-to-chip and rack-to-rack communication, aiming to cut power consumption while boosting speed… With a sub-$500 million market cap, the stock carries lottery-ticket risk/reward: meaningful upside if design wins materialize, but significant execution risk until revenues reach scale.” End quotes. ------------------------------------------------------------- Shining a Light on 5 Clean Energy ETFs as We Step Into Q4 on finance.yahoo.com Now some picks from a regular to this podcast, Aparajita Dutta. Her article is titled Shining a Light on 5 Clean Energy ETFs as We Step Into Q4 on finance.yahoo.com. It originally appeared on zacks.com. Here are a few comments by Ms. Dutta on each one of her picks. “1. iShares Global Clean Energy ETF (ICLN) This fund is the largest clean energy ETF, providing exposure to leading companies in solar, wind, and other renewable sectors worldwide. Sector-wise, renewable electricity constitutes 20.41% of this fund… [It] has surged 35.4% year to date. The fund charges 39 basis points (bps) as fees. iShares Global Clean Energy ETF (ICLN): ETF Research Reports. 2. First Trust Nasdaq Clean Edge Green Energy ETF (QCLN) This fund focuses on U.S.-listed companies involved in renewable electricity generation, energy storage, electric vehicles, and those involved in emerging clean energy technologies. Sector-wise, renewable energy equipment constitutes 20.31% and alternative electricity comprises 10.23% of this fund… [It] has soared 24.1% year to date. The fund charges 56 bps as fees. First Trust NASDAQ Clean Edge Green Energy ETF (QCLN): ETF Research Reports. 3. ALPS Clean Energy ETF (ACES) This fund offers exposure to U.S. and Canadian companies involved in the clean energy sector, including renewables and clean technology. Sector-wise, solar forms 26.81%, electric vehicles constitute 22.45%, energy management and storage comprise 15.86%, wind holds 12.22% and Hydro/Geothermal comprises 9.49% of this fund… [It] has surged 24.2% year to date. The fund charges 55 bps as fees. ALPS Clean Energy ETF (ACES): ETF Research Reports. 4. Invesco WilderHill Clean Energy ETF (PBW) This fund offers exposure to a broad range of U.S.-listed clean energy companies. Sector-wise, energy constitutes 3.78% and utilities comprise 3.78% of this fund… [It] has surged 44.7% year to date. The fund charges 65 bps as fees. Invesco WilderHill Clean Energy ETF (PBW): ETF Research Reports. 5. Fidelity Clean Energy ETF (FRNW) This fund offers exposure to companies that distribute, produce or provide technology or equipment to support the production of energy from solar, wind, hydrogen and other renewable sources. Industry-wise, Independent Power & Renewable Electricity Producers constitutes 22.54% and electric utilities comprise 8.09% of this fund… [It] has soared 42.9% year to date. The fund charges 40 bps as fees. Fidelity Clean Energy ETF (FRNW): ETF Research Reports.” End quotes. ------------------------------------------------------------- Renewable Energy Stocks To Research - on marketbeat.com The last review article is titled Renewable Energy Stocks To Research - on marketbeat.com. And it's by MarketBeat analysts. Here are some quotes on their picks. “[These] are the seven Renewable Energy stocks to watch today, according to MarketBeat's stock screener tool… [They] had the highest dollar trading volume of any Renewable Energy stocks within the last several days. 1. WEC Energy Group (WEC) WEC Energy through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments. Read Our Latest Research Report on WEC. 2. Quanta Services (PWR) Quanta Services provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. Read Our Latest Research Report on PWR. 3. Clearway Energy (CWEN) Clearway Energy operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities. Read Our Latest Research Report on CWEN. 4. NOV (NOV) NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. Read Our Latest Research Report on NOV. 5. HA Sustainable Infrastructure Capital (HASI) HA Sustainable Infrastructure Capital, through its subsidiaries, engages in the investment of energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities. Read Our Latest Research Report on HASI. 6. Gibraltar Industries (ROCK) Gibraltar Industries manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. Read Our Latest Research Report on ROCK. 7. Ameresco (AMRC) Ameresco a clean technology integrator, provides a portfolio of energy efficiency and renewable energy supply solutions… It operates through U.S. Regions… Canada, Europe, Alternative Fuels, and All Other segments. Read Our Latest Research Report on AMRC.” End quotes. ------------------------------------------------------------- More articles with Sustainable Investment Picks for October 2025 from around the world. 1. Title: NBIS vs. MSFT: Which AI Infrastructure Stock is the Smarter Bet? On finance.yahoo.com. By Vaishali Doshi. 2. Title: Could This Overlooked Infrastructure Stock Be the Market's Next Multibagger? On fool.com. By Harsh Chauhan. 3. Title: HUBB, NEE, and XYL: Hidden Stock Winners in the Energy Transition on marketbeat.com. By Chris Markoch. 4. Title: Is Now the Right Moment for Enphase Stock After the Recent 6.7% Rally? on simplywall.st. By Simply Wall St. 5. Title: Green Energy Gold Rush: 5 Best Clean Energy Stocks to Buy on ts2.tech. By Marcin Frąckiewicz. ------------------------------------------------------------- Ending Comment These are my top news stories with their stock and fund tips for this podcast, “October 2025 Sustainable Stock and ETF Picks .” Please click the like and subscribe buttons wherever you download or listen to this podcast. That helps bring these podcasts to others like you. And please click the share buttons to share this podcast with your friends and family. Let's promote ethical and sustainable investing as a force for hope and prosperity in these tumultuous times! Contact me if you have any questions. Thank you for listening. My next podcast will be on November 21st. See you then. Bye for now.   © 2025 Ron Robins, Investing for the Soul

Don and Tom dive into common misconceptions about what's really been the top-performing asset class over the past five years—spoiler: it's not the S&P 500. They compare U.S. large-cap growth with international small-cap value, using Larry Swedroe's data to highlight the importance of global diversification. Listeners call in about estate planning, withdrawal rates in retirement, and portfolio construction. The hosts explain community property rules, flexible withdrawal strategies backed by research, and which small-cap value ETFs they prefer. The episode closes with a reality check on Bitcoin's latest crash, revisiting Mark Hulbert's warning that crypto isn't an asset class but a risky “thingy.” 0:04 Opening banter on the show's long Seattle run and mission to simplify money. 2:08 The S&P 500 obsession—why investors overweight large U.S. growth stocks. 3:23 Larry Swedroe's quiz: best-performing asset class 2019–2025 (hint: it's not U.S. large growth). 4:07 Dimensional International Small Cap Value Fund (DISVX) vs. S&P 500 Growth (VOOG). 5:20 Why diversification and global exposure matter long-term. 6:20 Break: “Financial Flinch Reflex” PSA. 7:42 Diversification means holding assets that sometimes disappoint you. 8:33 Don's marriage analogy and listener call-in from Baltimore about trusts. 10:15 Estate simplicity, beneficiary designations, and when trusts are unnecessary. 11:55 The danger of “trust mills” and the value of family transparency. 14:40 Community property vs. joint tenancy—Washington's unique tax advantage. 16:36 Call from Michael: flexible vs. fixed withdrawal rates in retirement. 17:29 Why a 5% flexible withdrawal often beats the classic 4% rule. 20:19 Research roundup: Kitsis, Vanguard, Morningstar confirm flexible success rates. 23:09 Listener from Tennessee asks about capital-gains exclusions. 25:44 Chris from Seattle: using target-date funds to fix a “hodge-podge” portfolio. 27:24 Adding small-cap value (AVUV) to target-date funds for tilt and simplicity. 28:34 Listener from New Hampshire asks which planning software Appella Wealth uses. 30:06 Call from Sam: best small-cap value ETF options (AVUV vs. VBR). 33:21 Risk, volatility, and why small-cap value offers higher expected returns. 35:47 Mark Hulbert on crypto's crash—bigger than 1929 by percentage. 36:54 Why hype, not utility, drives crypto coverage. 38:36 Final takeaway: investors remain too U.S.-centric; diversify globally. Learn more about your ad choices. Visit megaphone.fm/adchoices

What if you could score and rank hundreds of investment funds in mere moments, based on your unique preferences?   In this episode of the Registered Investment Advisor Podcast, Seth Greene interviews Eric Smith, J.D., Chairman & CEO of Decision Technologies Corporation, who discusses their patented decision assistant technology, designed to help investment professionals score and rank mutual funds and ETFs. This powerful tool allows advisors to customize 48 performance factors, enabling them to select the best funds for their clients and providing deeper insights than traditional rating systems like Morningstar. Tune in to learn how this innovative software can transform how you evaluate investments, optimize portfolios, and strengthen client relationships.   Key Takeaways: → Why investment professionals often struggle to understand how their choices compare across the market. → How Decision Technologies' patented tool helps users score and rank investment funds objectively. → How this tool allows you to create personalized ranking systems tailored to your client's goals. → How real-time ranking allows users to monitor funds and adjust as market conditions change. → Decision Technologies provides a game-changing tool for attracting new clients and managing existing investments more effectively.   Eric S. Smith, J.D., is the Chairman, CEO, and Co-Founder of Decision Technologies Corporation (DTC), where he co-invented the company's patented decision-assistance technology. This technology powers DTC's Professional RapidReview Tool (ProRRT) for investment advisors and its Retail Investment Tracking Application (RITA) for individual investors. DTC's transformative technology enables both groups to make informed investment decisions in an increasingly complex financial landscape. Additionally, Mr. Smith serves as President of Trustee Empowerment & Protection, Inc. (TEPI), an SEC-registered investment adviser that helps retirement plan sponsors mitigate risks associated with class-action lawsuits. A licensed institutional investment consultant and attorney with over 22 years of experience in corporate and ERISA law, Eric brings a client-centric perspective to financial services, focusing on empowering individual investors and their advisors. He has spoken at various conferences on fiduciary responsibility, investment decision-making, and the flaws in the financial services marketplace. Connect With Eric: Websitse  https://decisionengines.tech/ https://prorrt.com/LinkedIn https://www.linkedin.com/in/eric-smith-82558710/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, and welcome to The Long View. I'm Christine Benz, director of personal finance and retirement planning for Morningstar. Today on the podcast we welcome back Carl Richards, who's the author of a new book called Your Money: Reimagining Wealth in 101 Simple Sketches. His previous books, The Behavior Gap and The One-Page Financial Plan, were both bestsellers. Carl started the Sketch Guide column in The New York Times and it ran weekly for a decade. Carl is a certified financial planner, and he started the Society of Advice, which is a community of financial planners dedicated to the craft of advice. In addition, Carl is active on the podcast circuit. He hosts Behavior Gap Radio, as well as a podcast called 50 Fires: Money and Meaning with Carl Richards. Carl also co-hosts a podcast with Michael Kitces called Kitces & Carl - Real Talk for Real Financial Advisors.BackgroundBioThe Society of AdviceBehavior Gap Radio50 Fires: A Podcast About Money and MeaningKitces & Carl – Real Talk for Real Financial Advisors“Carl Richards: ‘Less Focus on Being a Little Less Wrong Tomorrow,'” The Long View podcast, Morningstar.com, May 13, 2020.“Carl Richards: It Should Be OK to Relax Out Loud,” The Long View podcast, Morningstar.com, July 27, 2021.BooksYour Money: Reimagining Wealth in 101 Simple SketchesThe Behavior Gap: Simple Ways to Stop Doing Dumb Things With MoneyThe One-Page Financial Plan: A Simple Way to Be Smart About Your MoneySketches and PodcastsThe Magic Certainty Button“Visual Sketches as Conversation Starters to Help Clients Make Better Financial Decisions,” Kitces & Carl podcast, Episode 175, kitces.com, Oct. 16, 2025.Where to Place Your Focus“Is There a Future of Financial Planning in the AI Era?” Kitces & Carl podcast, Episode 169, kitces.com, July 24, 2025.Other“Brian Portnoy: Balancing Returns With Simplicity, Financial Independence, and Peace of Mind,” The Long View podcast, Morningstar.com, Sept. 29, 2020.“Why We Spend the Way We Do With Gretchen Rubin,” 50 Fires podcast with Carl Richards, 50fires.com, May 28, 2025.Paige Pritchard“Money, Family, and Meaningful Work With Jodi Kantor and Rob Lieber,” 50 Fires podcast with Carl Richards, 50fires.com, Sept. 18, 2024.Morgan HouselZero to One: Notes on Startups, or How to Build the Future, by Peter ThielVollebak Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When we plan for retirement, we tend to spend the majority of our time thinking about money, but research shows that there is much more to a happy retirement than dollars and cents. Nathan interviews Morningstar columnist Christine Benz, author of “How to Retire: 20 Lessons for a Happy, Successful and Wealthy Retirement”, to discuss perspectives from thought leaders on what contributes to a truly successful retirement. Host: Nathan Beauvais, CFP®, CIMA®; Special Guest: Christine Benz, Morningstar; Air Date: 10/17/2025; Original Air Date: 11/1/2024. Have a question for the hosts? Leave a message on the MoneyTalk Hotline at (401) 587-SOWA and have your voice heard live on the air!See omnystudio.com/listener for privacy information.

En Capital Intereconomía, el Radar Empresarial ha puesto hoy el foco en Amazon Web Services (AWS), tras la reciente caída global que afectó a miles de plataformas digitales en todo el mundo —desde Fortnite hasta herramientas de inteligencia artificial como ChatGPT—. El incidente ha reabierto el debate sobre la dependencia tecnológica mundial de los grandes proveedores cloud y la necesidad de diversificar infraestructuras digitales en empresas y administraciones públicas. En el Foro de la Inversión, hemos contado con la participación de José Antonio Esteban, CEO de IronIA Fintech, y Ignacio Martín-Villalba, de Candriam, quienes han analizado la evolución del mercado de fondos y el creciente interés de los inversores por productos diversificados y de gestión independiente. Esteban ha destacado la importancia de la educación financiera y la transparencia en las comisiones, mientras que Martín-Villalba ha puesto el acento en la necesidad de alinear sostenibilidad y rentabilidad en las carteras. También ha participado Asís Maestre, responsable de distribución de fondos de Bellevue Asset Management, para hablar de su estrategia en renta variable europea de pequeñas compañías. Durante la conversación, Maestre ha señalado que las small caps europeas atraviesan un momento de valoraciones atractivas y gran potencial de revalorización, especialmente tras la corrección sufrida en los últimos trimestres. Frente a las estadounidenses, ha explicado, “las pequeñas compañías europeas cotizan con un descuento notable y ofrecen mayor visibilidad en beneficios gracias al entorno de tipos estabilizado”. Entre los temas tratados: Perspectivas: Bellevue ve un escenario de recuperación gradual en Europa con foco en innovación y sostenibilidad. Diferencias clave: su fondo se centra en empresas familiares, de gestión activa y con balances sólidos, lo que les ha permitido batir consistentemente al índice de referencia. Rentabilidad: la estrategia de pequeñas compañías europeas de Bellevue acumula más de una década de histórico positivo, con baja volatilidad y rentabilidades superiores a largo plazo. El programa ha concluido con el Consultorio de Fondos junto a Fernando Luque, editor de Morningstar, quien ha respondido a las preguntas de los oyentes sobre diversificación, selección de fondos mixtos y cómo aprovechar las oportunidades en renta variable europea y global sin asumir un riesgo excesivo.

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Tune in to another episode of Give The People What They Want! with Peoples Dispatch editor Zoe Alexandra, Indian journalist Prasanth R, and Roger McKenzie, international editor of the Morning Star. This week, they reflect on the ceasefire announcement in Palestine, the popular protests in Madagascar, the political crisis in France, US attacks on Venezuelan sovereignty as well as recent developments in the DRC.

In this episode, we're joined by Bianca Rose, Senior Portfolio Manager at Morningstar Investment Management. Nobody has a crystal ball, but having a guideline for what asset classes are forecasted to return allows you to make an informed decision about asset allocation. Bianca runs through Morningstar Investment Management's forecast for asset classes, and how this fits into your investment strategy and portfolio construction process.A message from Mark and ShaniFor the past five years, we've released a weekly podcast to arm you with the tools to invest successfully. We've always strived to provide independent, thoughtful analysis, backed by the work of hundreds of researchers and professionals at Morningstar.We've shared our journeys with you, and you've shared back. We've listened to what you're after and created a companion for your investing journey. Invest Your Way is a book that focuses on the investor, instead of the investments. It is a guide to successful investing, with actionable insights and practical applications.The book is now available! It is also available in Audiobook format from most sellers.Purchase from Amazon or Purchase from BooktopiaTo submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

Over the past few years, just a few large-cap technology stocks have powered the stock market's returns. That trend shows no signs of abating anytime soon, as demand for artificial intelligence continues to send the tech sector higher. A highly concentrated market can—and has—turbocharged returns, but it also comes with downsides. As tech stocks soar, fund investors may find themselves with portfolios that are significantly less diverse than expected thanks to the outsize influence of a handful of firms like Nvidia NVDA and Microsoft MSFT. Dominic Pappalardo, chief multi-asset strategist for Morningstar Wealth, discusses how today's narrow market compares with history and how investors can mitigate concentration risk in their portfolios. Morningstar Wealth is part of a registered investment advisor, Morningstar Investment Management.https://www.morningstar.com/markets/whatever-happened-broadening-stock-market-rally On this episode: What do strategists mean when they talk about concentration risk? How did today's narrow market develop? What forces and trends brought us here? How unusual is today's narrow stock market compared with history? When the market has been concentrated in the past, what has caused that concentration to dissipate? Are the risks associated with high concentration greater for passive index investors? Why? Wall Street has been warning about concentration risk for the better part of two years. But stocks are still hitting record highs, and the weightiest stocks are still performing the best. Why do some strategists say they aren't as concerned about concentration risk? Do investors really need to be worried? What are some strategies investors can use to mitigate the risk of a highly concentrated market without leaving too much upside on the table? What's the most important thing investors should remember right now? What to watch from Morningstar. New Crypto ETFs Are Coming. Here's How Investors Can Prepare How Inflation, AI, and Budget Battles Will Shape the Stock Market in Q4Is Your Dividend Income at Risk? Here's How to Spot Dividend Traps Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Word Unleashed: John Wycliffe and the Vernacular Bible RevolutionEpisode DescriptionWhat if reading the Bible in your own language was considered heresy? In 14th-century England, that's exactly what the Church believed—and people died for defying that belief.Join Professor Rachel Chen in conversation with Bishop Andy Lewter, Harvard-trained church historian, as they explore the remarkable life of John Wycliffe—the "Morning Star of the Reformation"—and his dangerous dream of making Scripture accessible to ordinary people.Discover how the Roman Catholic Church used the mystery of Latin liturgy to maintain spiritual control, why Church authorities feared vernacular Bibles, and how Wycliffe's revolutionary "Lollard" preachers spread biblical teaching across England despite brutal persecution.From Wycliffe's pioneering English translation in the 1380s to Tyndale's martyrdom and Luther's bestselling German Bible, this episode traces the three-century struggle that transformed Christianity and empowered millions to encounter God's word directly.In This Episode:The mysterium tremendum: How incomprehensible Latin created spiritual power—and enabled controlWycliffe's radical reforms: English Bibles, Lollard preachers, and challenging Church wealthWhy translating Scripture was considered heresy—and why people died for itThe spread of vernacular Bibles across Europe in the 15th-17th centuriesHow printing technology turned Bibles into revolutionary documentsWycliffe's enduring legacy and what it means for believers todayPerfect for: Church history enthusiasts, Reformation scholars, anyone interested in how ordinary people gained access to Scripture, and believers curious about the Bible they hold in their hands.

Resilience isn't built in moments of ease, it's forged through challenge, curiosity, and the courage to grow. In this episode, Heather Brilliant, CEO of Diamond Hill Capital Management, shares how 38 rejection letters early in her career became the foundation for a life of resilience, curiosity, and courageous leadership. With experience spanning Bank of America, Morningstar, and now Diamond Hill, she reveals how staying open to feedback, to failure, and to change has fueled her growth as a leader and innovator in investment management. Her journey from aspiring lawyer to CEO is a story of perseverance and adaptability, proving that leadership isn't about following a straight path, it's about learning, evolving, and leading with both humility and conviction. Tune in to learn how resilience is built through feedback, why curiosity drives clarity, and what it means to lead with openness in a world that never stops changing. Visit our website where you will find show notes and links to all the resources in this episode, including the best way to get in touch with our special guest. The key moments in this episode are: [00:00] Introduction to Beyond Barriers Podcast [00:27] The Importance of Resilience and Rejection [01:16] Heather Brilliant's Career Journey [04:20] Networking and Career Growth [08:02] Leadership and Personal Development [17:24] About Diamond Hill and Heather's Role [19:16] Daily Habits and Success Rituals [20:22] Balancing Internal and External Focus [21:11] Embracing AI in the Workplace [22:43] Effective Decision-Making Strategies [34:21] The Importance of Curiosity [38:30] Lightning Round and Final Thoughts    

Morningstar's Dave Sekera says the A.I. trade hasn't shown much weakness, but if you look under the surface of the market's strength, there's plenty of cracks to find. He points to industries like commodity chemicals, transportation, and industrials not connected to A.I. taking big hits to earnings. Dave says there are "deep value" plays to find as long as investors can "white knuckle" quarters ahead. He explains why the energy, health care, and real estate sectors are undervalued plays that can also serve as defense. That's not to say Dave doesn't see value trades in A.I., though he believes they're becoming few and far between.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

The church at Thyatira looked healthy on the surface, but beneath their love and service lurked dangerous compromise. Jesus, whose eyes are like fire, saw through it all. This message explores how false teaching and moral leniency can quietly destroy faith from within. Yet even in the midst of failure, Christ calls His people to repent, endure, and claim the promise of the Morning Star.

In this episode, Mark and Shani run through 6 life changing tips that Shani delivered to high school students during a financial literacy course. Do you have any life changing tips? Send them through to mark.lamonica1@morningstar.com, or leave a comment in your podcast app.A message from Mark and ShaniFor the past five years, we've released a weekly podcast to arm you with the tools to invest successfully. We've always strived to provide independent, thoughtful analysis, backed by the work of hundreds of researchers and professionals at Morningstar.We've shared our journeys with you, and you've shared back. We've listened to what you're after and created a companion for your investing journey. Invest Your Way is a book that focuses on the investor, instead of the investments. It is a guide to successful investing, with actionable insights and practical applications.The book is now available!Purchase from Amazon or Purchase from BooktopiaTo submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

Some how we are already at October's book club!? Grab your book and your drink and let's chat about Morning Star Chapters 1-32! What a whirlwind. How the heck are we going to pick a book to read after this?? We finish chatting about this book Oct 26th. Drink recipe

ETF Share Classes Are a Go for Dimensional: Here's What Investors Need to Know On this episode: What was your reaction to the SEC removing these regulatory hurdles? Let's first start with the rule change regarding crypto ETFs. Can you explain what new investment choices could be available, and what would they track? How soon could firms release new crypto ETFs? They're already spot crypto ETFs trading. Could new competition push down fees overall? How have crypto ETFs performed so far in 2025? What crypto ETFs do Morningstar consider solid choices for investors? Morningstar considers crypto a speculative or high-risk asset. Will you remind investors why that is? Let's switch to the SEC's other recent rule change. It has approved Dimensional Fund Advisors to add an ETF share class to its mutual funds. Can you explain what an ETF share class is and provide a brief history lesson on it? More than 70 asset managers have banded together to get permission to offer dual share class funds. How often does that happen, and why in this case? What do individual investors stand to gain from new ETF share classes? Let's flip it. What could they lose? What is the takeaway for investors as a new wave of crypto ETFs and ETF share classes arrive?We talked on last week's Investing Insights about how a US government shutdown would stop the release of economic data, like the monthly jobs report. How could a shortage of data affect the Federal Reserve and others who depend on this information?Let's discuss this week's Markets Brief column. You wrote that the stock market could be on the verge of a so-called “melt up.” Can you explain what that is, and why cycles like this can be dangerous for investors? What are you tracking for next week's Markets Brief column? What to watch from Morningstar. How Inflation, AI, and Budget Battles Will Shape the Stock Market in Q4 Is Your Dividend Income at Risk? Here's How to Spot Dividend TrapsShould You Hold Cash Investments After the Fed Cuts Interest Rates? Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Don and Tom dive into a new Morningstar report showing that tactical allocation funds—those run by “smart” managers who actively shift investments—significantly underperformed simple buy-and-hold index portfolios. They unpack why doing nothing often wins, discuss investor behavior gaps, and revisit the power of staying the course. Listener questions follow on mortgage payoffs, TIAA advisory fees, and adjusting stock/bond splits in retirement. The episode wraps with Don revealing his personal creative project—his short story A Chance of Death on his LitReading podcast—and a teaser for his next story, Murder of Crows. 0:23 Morningstar headline: tactical allocation funds lose to “do-nothing” portfolios 1:45 What tactical allocation funds really are (a.k.a. expensive market timing) 2:52 Morningstar urges investors to “stay the course” 3:04 Revisiting “Mind the Gap” and why investors underperform their own funds 4:28 Data comparison: $10k in tactical vs. passive portfolio over 10 years 5:31 Why professionals can't beat buy-and-hold investors 6:51 Human behavior, arrogance, and the illusion of market-timing skill 8:37 The need for a written plan and risk-based portfolio 9:58 If you have a plan, market noise stops mattering 10:22 Tangent: WWII documentaries vs. Taylor Swift's Miss Americana 11:21 Listener question #1 – Paying off a low-rate mortgage vs. investing 13:35 Math and emotion collide: cheap money, liquidity, and peace of mind 15:35 Listener question #2 – TIAA Wealth Management fees and fiduciary standards 18:31 Reading TIAA's ADV: possible fees up to 2% on small accounts 20:08 Comparing local RIAs vs. large institutions 21:08 Clarifying blended fees and fund costs 21:47 Listener question #3 – Vanguard advisor suggesting 60/40 allocation 22:53 Risk tolerance vs. risk need – the real balance 24:05 Investment Policy Statements and Vanguard's advisory limitations 25:46 Call for more listener questions and upcoming Q&A shows 26:15 Don plugs Lit Reading and his new original story “A Chance of Death” 28:24 How AI collaboration shaped the story's creation 30:59 Discussion of his next story, “Murder of Crows” 32:17 Invitation for audience feedback on Lit Reading stories Learn more about your ad choices. Visit megaphone.fm/adchoices

Tune in to another episode of Give The People What They Want! with Peoples Dispatch editor Zoe Alexandra, Indian journalist Prasanth R, and Roger McKenzie, international editor of the Morning Star. This week, they reflect on two years of Israel's onslaught on Gaza, Israel's illegal interception of the Global Sumud Flotilla, the crackdown on civil liberties in the UK, the political crisis in France, protests and violent repression in Ecuador and Peru, and what it means that renewables are overtaking coal as the largest source of electricity.

InvestmentNews podcast host Bruce Kelly chats with Morningstar's Bryan Armour to examine the impact alternatives and illiquid asset investments are having on the industry.

Today on the podcast, we're welcoming Barry Ritholtz. He's co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, a firm that was launched in 2013. He's the creator and host of Masters in Business, one of the earliest finance-related podcasts. He also regularly posts on The Big Picture, where he's been covering everything investing related since 2003. He is the author of Bailout Nation, and his latest book, How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth—and How to Avoid Them, has just been published.Background and BooksBarry Ritholtz LinkedInRitholtz Wealth ManagementBailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy, with New Post-Crisis UpdateHow Not to Invest: The ideas, numbers, and behavior that destroy wealth—and how to avoid themPodcasts and MoreMasters in Business podcastThe Big Picture“Masters in Business - Ray Dalio Full Show,” Masters in Business podcast, Nov. 30, 2018“An Interview With Ken Feinberg: Masters in Business,” Masters in Business podcast, Oct. 9, 2015“MiB: Charley Ellis on Rethinking Investing,” Masters in Business podcast, Feb. 21, 2025“Why Fear Is an Investor's Worst Enemy” by Samantha Lamas from the 2017 Morningstar ETF Conference, Morningstar.com, Sept. 12, 2017“Rabbithole: What Do People Get Wrong About Money?” The Big Picture, March 10, 2025“It's Been 40 Years Since Our Cover Story Declared ‘The Death of Equities,' ” by Peter Coy, Bloomberg, Aug. 13, 2019ReadingsWinning the Loser's Game: Timeless Strategies for Successful Investing, Eighth Edition, by Charles D. EllisExpert Political Judgment: How Good Is It? How Can We Know?, by Philip E. TetlockFour Thousand Weeks: Time Management for Mortals, by Oliver BurkemanPrinciples, by Ray Dalio

Morningstar's Brian Colello calls the deal between AMD Inc. (AMD) and OpenAI a much needed one. While he sees Nvidia (NVDA) continuing to serve as the A.I. market leader, he adds that "there's nothing wrong with second place" for AMD. One concern he has moving forward: how these companies will power A.I. in the years ahead. Logan Gilland makes the case that AMD and OpenAI prove there's still an "unbelievable" amount of investment needed for A.I. infrastructure. He just wants to see how OpenAI transitions all of this into "true revenue."======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

In this episode, Gabriel Rutledge explores the life and legacy of John Wycliffe — the “Morning Star of the Reformation” — and his conviction that the Word of God should be read and understood by every believer. Through historical insight and biblical reflection, we uncover how Wycliffe's translation of the Bible into English and his call for public Scripture reading became an antidote to doctrinal error and heresy in a time when truth was confined to the clergy. We'll examine how communal reading of Scripture not only preserves theological integrity but also revives faith, exposes false teaching, and re-centers God's people on His Word. This message reminds us that when the Bible is hidden, error thrives—but when it's proclaimed aloud, light breaks through darkness. Key themes: The historical impact of John Wycliffe's translation work Why public reading of Scripture matters in every generation How biblical literacy safeguards the Church from deception Parallels between medieval and modern challenges to truth

In this episode, we discuss some key lessons for investors from Morgan Housel's book, Same As Ever.A message from Mark and ShaniFor the past five years, we've released a weekly podcast to arm you with the tools to invest successfully. We've always strived to provide independent, thoughtful analysis, backed by the work of hundreds of researchers and professionals at Morningstar.We've shared our journeys with you, and you've shared back. We've listened to what you're after and created a companion for your investing journey. Invest Your Way is a book that focuses on the investor, instead of the investments. It is a guide to successful investing, with actionable insights and practical applications.The book is currently in presale which is an important time to build momentum. If anyone would like to support this project you can buy the book now. Thanks in advance!Purchase from Amazon or Purchase from BooktopiaTo submit any questions or feedback, please email mark.lamonica1@morningstar.com or leave us a voicemail to feature on the podcast here.Audio Producer and mixer: William Ton. Hosted on Acast. See acast.com/privacy for more information.

Investors' exuberance is fueling this year's stock rally, but will key economic risks dampen the market's mood? The current bull run has lifted stocks from their springtime lows to higher levels in autumn. The artificial intelligence boom is one of the big factors driving it. Meanwhile, the Federal Reserve is dealing with the challenging situation of balancing the weakening job market and stubborn inflation. The Fed cut interest rates for the first time in 2025 in the third quarter, but the path forward from here is less certain. Morningstar Inc Senior Markets Reporter Sarah Hansen discusses seven key market factors you should watch in Q4 2025.Nvidia's investment of up to $100 billion in ChatGPT creator OpenAI could shatter records. The big bet is helping feed two simple narratives about the AI era, according to Dan Kemp, chief research and investment officer at Morningstar Investment Management Europe. First, there's too much investment in the technology, and booms tend to lead to busts. Second, AI has changed the rules of investing and returns. Kemp cautions investors to remember that there are a wide range of possible outcomes than these easy stories.  On this episode:You examine the highs and lows during each quarter and write about it. What do you think are the biggest takeaways from Q3? Stocks are climbing higher despite a lot of risks. What signals is the market ignoring, and could it be at its own peril? The AI boom is driving what's going on in the market. Mega-cap tech companies are making huge investments. Where's the money going, and how long is this level of spending expected to continue? The hot IPO market has benefited from AI. Some of the most successful IPOs this year involved the industry. Can you describe this revival? The first interest rate cut of 2025 is in the books. The Federal Reserve pointed to the softening job market as one reason for the move. What are strategists telling you as the markets await the Fed's next move? Inflation is still not tamed and hovering above the Fed's 2% target. There are expectations that tariffs could raise prices for a while. What are the outlooks from Morningstar and other strategists? As the Fed cuts rates, short-term yields will come down. What about the rest of the bond market? Where do people see the risks? The federal funding fight is continuing in Washington, D.C. Let's timestamp this moment. It's Tuesday, Sept. 30. The US government would shut down on Oct. 1 if there's not an agreement. How does uncertainty like this affect the markets, and what should investors think? Earnings season is coming up in a couple weeks. What is your team watching for? What's the takeaway for investors as we enter Q4?We talked on last week's Investing Insights about inflation. The Federal Reserve's preferred tracker showed inflation slightly ticked up in August as forecasters expected. It also revealed consumer spending rose. What do you think that's signaling about the US economy? In this week's Markets Brief column, you highlighted Nvidia's potentially record-breaking investment. The chipmaker announced it would invest up to $100 billion in OpenAI. How should investors think about this deal?New economic data is due out this week. What are you tracking for next week's Markets Brief? Read about topics from this episode.  13 Charts on Q3's Tech-Driven Stock Rally Will the AI Boom in Semiconductor Stocks Continue? What Investors Need to Know About the Steepening Yield Curve The Fed's ‘Difficult Situation': Reading Between the Lines of the September Dot Plot Forecasts for August PCE Report Shows Some Cooling, but Tariff Impacts Persist What Investors Need to Know About a US Government Shutdown Markets Brief: Nvidia's AI Spending Spree Raises Boom and Bust Fears  What to watch from Morningstar. Is Your Dividend Income at Risk? Here's How to Spot Dividend Traps Should You Hold Cash Investments After the Fed Cuts Interest Rates?What You Need to Know Before Choosing a Stock ETFInvesting in AI? Here Are 6 Undervalued Stocks for Buy-and-Hold Investors Read what our team is writing.Sarah HansenDan KempIvanna Hampton Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Tune in to another episode of Give The People What They Want! with Indian journalist Prasanth R and Roger McKenzie, international editor of the Morning Star. In this episode, they reflect on Israel's continued genocide on the people of Gaza, Trump's "peace" plan, major developments at the United Nations General Assembly, the UN's approval of a “Gang Suppression Force” for Haiti, and the youth protests in Morocco and Madagascar.

Jaime Cabanas, director de relación con inversores de Avantage Capital, visita Tu Dinero Nunca Duerme días antes del 11 cumpleaños de la gestora. Avantage Capital celebra el próximo 13 de octubre su decimoprimera conferencia anual de inversores, un encuentro consolidado en el que la gestora expone con transparencia sus decisiones de inversión, los resultados obtenidos y su visión de futuro. El director de relación con inversores de Avantage Capital, Jaime Cabanas, destacaba en una edición especial para suscriptores de Tu Dinero Nunca Duerme los datos que avalan esta trayectoria de la gestora El fondo suma once años consecutivos con una rentabilidad anualizada cercana al 10%, lo que supone un 179,8% acumulado, y lo ha hecho con la mitad de la volatilidad del mercado. De hecho, ha llegado a batir al S&P 500 en los últimos cinco años con un nivel de riesgo de 3 sobre 7. Morningstar lo mantiene en el top 10% de su categoría en todos los horizontes temporales, otorgándole la máxima calificación de cinco estrellas de manera ininterrumpida. Según Cabanas, el secreto de Avantage Fund está en su carácter mixto y flexible: puede invertir del 0 al 100% tanto en renta fija como en variable, ajustando la cartera a las oportunidades de mercado. Actualmente, el 74% está en renta variable y el 18% en renta fija, con compañías que cumplen tres criterios estrictos: equipos directivos alineados con los accionistas, ventajas competitivas sostenibles y precios razonables. En su cartera conviven nombres como Tesla, Nvidia, Prosegur o Renta 4, siempre bajo una filosofía de inversión a largo plazo. Esa independencia se refleja también en su uso disciplinado de coberturas, como la histórica posición sobre el bund alemán que protegió a los partícipes en 2022, o en decisiones prácticas ante operaciones corporativas como la OPA de Catalana Occidente, que permitió salir con un 100% de rentabilidad acumulada más dividendos. Más allá de los números, Avantage Capital destaca por su compromiso con el inversor. Su director de inversiones, Juan Gómez Bada, mantiene un compromiso notarial por el que invierte más del 50% de su propio patrimonio en el fondo, alineando así sus intereses con los de los partícipes. Una práctica poco común en el sector, pero que subraya el principio de "skin in the game" que guía a la firma. En un contexto de cambios regulatorios y de mercado, Avantage Capital también ha alzado la voz en defensa de los minoristas, decía Cabanas, reclamando una reforma de la ley de OPAs para evitar que el pequeño inversor quede en desventaja frente a los grandes accionistas. La filosofía de la casa queda clara: rentabilidad superior con menor riesgo, flexibilidad total y un compromiso real con los inversores. Virtudes que explican por qué, once años después, Avantage Capital sigue sumando confianza, patrimonio y reconocimiento.

Our guest on the podcast today is Kerry Hannon. Kerry is a senior columnist and on-air expert for Yahoo Finance and writes about retirement, jobs, career transitions, entrepreneurship, leadership, and personal finance. She has written 14 books about retirement, careers, and personal finance and is co-author of a new book, Retirement Bites: A Gen X Guide to Securing Your Financial Future. Kerry is a former columnist and contributor for The New York Times, MarketWatch, Forbes, PBS, and AARP. She graduated from Duke University.BackgroundBioRetirement Bites: A Gen X Guide to Securing Your Financial Future, by Kerry Hannon and Janna Herron401(k)s and the Current Market“401(k) Savers Stayed Strong Through Market Volatility, Fidelity Found,” Video interview with Kerry Hannon, kerryhannon.com, June 15, 2025.“Experts Caution Adding Private Assets Like Crypto to 401(k)s,” Video interview with Kerry Hannon, kerryhannon.com, Aug. 17, 2025.“Retirement Savers Are Eager to Invest in Private Assets, New Survey Finds,” by Kerry Hannon, yahoofinance.com, Aug. 25, 2025.“Robust Returns and Steady Saving Yield Record Number of 401(k) Millionaires,” by Kerry Hannon, yahoofinance.com, Sept. 13, 2025.“401(k) Savers Play It Safe, Even as Demand for Private Assets Surge,” by Kerry Hannon, yahoofinance.com, Sept. 9, 2025.Social Security and Target-Date Funds“An Increasing Number of Americans Are Claiming Social Security Early This Year. What's Up?” Video interview with Kerry Hannon, kerryhannon.com, May 14, 2025.“Some Retirees Will See Bump in Social Security Benefits in April,” Video interview with Kerry Hannon, kerryhannon.com, March 26, 2025.“Social Security Benefits Will Rise 2.5% in 2025,” by Kerry Hannon, yahoofinance.com, Oct. 13, 2024.“How to Build Your Own Target-Date Retirement Fund,” by Kerry Hannon, yahoofinance.com, Feb. 15, 2025.“2025 Target-Date Fund Investment Strategy,” Morningstar.com.“Americans' Retirement Vehicle of Choice Just Topped $4 Trillion,” Video interview with Kerry Hannon, kerryhannon.com, May 21, 2025.Return to Office and Job Changes“More Men Are Returning to the Office. Here's Why That Matters to Women,” by Kerry Hannon, yahoofinance.com, July 20, 2025.“Author: Getting Employees Back to the Office Is at an “Inflection Point,'” by Kerry Hannon, yahoofinance.com, Aug. 24, 2025.“Changing Jobs Can Shake-Up Saving for Retirement. Here's How to Avoid That,” Video interview with Kerry Hannon, kerryhannon.com, May 3, 2025.OtherReality Bites (1994 movie)My Social Security account“Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice,” by Scott Cederburg, Aizhan Anarkulova, and Michael S. O'Doherty, papers.ssrn.com, July 10, 2025 (revised).“How Americans View Their Jobs,” by Juliana Menasce Horowitz and Kim Parker, pewresearch.org, March 30, 2023.“Kerry Hannon: Remote Work Trend Benefits Older Workers,” The Long View podcast, Morningstar.com, Oct. 21, 2020.

Illinois announced its own vaccination guidelines, going against the Trump administration, and formed a panel to counter Robert F. Kennedy Jr.'s data collection efforts on people with autism. Crain's contributor Jon Asplund discusses with host Amy Guth.Plus: CFO optimism recovers as tariff uncertainty becomes the new normal, South Works site sold as quantum campus beckons, UChicago sells market data unit to Morningstar in $375 million deal and Spirit Airlines furloughs Chicago flight attendants. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mike Santoli weighs in on fresh AI bubble chatter as Victoria Greene of G Squared Private Wealth and Northwestern Mutual's Brent Schutte size up the broader markets. Our Emily Wilkins breaks down the final 32 hours before a potential government shutdown. Wheaton Precious Metals CEO Randy Smallwood discusses the surge in metals, Plus, Morningstar's David Swartz previews Nike earnings and what investors should watch next. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

When evaluating a fund, one of the first sets of numbers you'll likely look up is its past returns. But those are not the returns that owners of that fund actually earned. Robert Brokamp speaks with Morningstar's Jeff Ptak about which investor behaviors and types of funds are more associated with underperformance. Also in this episode: -The Russell 2000 finally surpassed its 2021 peak – what's behind the small-cap surge?-The Treasury Department has released preliminary guidance about “no tax on tips”-The spread in yields between investment-grade corporates and Treasuries is the smallest it's been since 1998-A lesson from the life and recent death of financial journalist Jonathan Clements: Don't delay your bucket list until retirement Investments discussed: VOO, QQQ, VTWO, IWC Host: Robert BrokampGuest: Jeff PtakEngineer: Bart Shannon Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, "TMF") do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today on the podcast, we welcome back two previous guests. Dana Anspach is the founder and CEO of the financial planning firm, Sensible Money, based in Scottsdale, Arizona, and she has been practicing as a financial planner since 1995. Dana is also the author of the lecture series “How to Plan for the Perfect Retirement,” available on The Great Courses, and the author of the books Control Your Retirement Destiny and Social Security Sense. She has begun blogging about her own retirement journey on The Retirement Manifesto website.Fritz Gilbert retired in his mid-50s and has been blogging about his retirement experience ever since. He is the creator of The Retirement Manifesto, and he also wrote a book about retirement called, Keys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years.BackgroundDana Anspach BioSensible MoneyHow to Plan for the Perfect Retirement on The Great CoursesControl Your Retirement Destiny: Achieving Financial Security Before the Big Transition, by Dana AnspachSocial Security Sense: A Guide to Claiming Benefits for Those Age 60-70, by Dana Anspach“Dana Anspach: How to Build an All-Weather Retirement Plan,” The Long View podcast, Morningstar.com, Oct. 18, 2022.Fritz Gilbert BioThe Retirement ManifestoKeys to a Successful Retirement: Staying Happy, Active, and Productive in Your Retired Years, by Fritz Gilbert“Fritz Gilbert: Early Retirement Made Simple,” The Long View podcast, Morningstar.com, Oct. 27, 2021.Blogging and Phases of Retirement“A New Chapter for The Retirement Manifesto,” by Dana Anspach, theretirementmanifesto.com, May 22, 2025.“When to Start Planning for Retirement: Understanding the ‘Pre-Go' Years,” Video with Dana Anspach, sensiblemoney.com, July 2, 2025.“Retirement—My Journey From ‘No, Never' to ‘Maybe One Day,'” by Dana Anspach, theretirementmanifesto.com, June 5, 2025.“The Ten Commandments of Retirement,” by Fritz Gilbert, theretirementmanifesto.com, March 6, 2018.“The 4 Phases of Retirement,” by Fritz Gilbert, theretirementmanifesto.com, Feb. 1, 2024.“Why 28% of Retirees Are Depressed,” by Fritz Gilbert, theretirementmanifesto.com, June 22, 2023.Spending in Retirement and Social Security“Scared to Spend? (You're Not Alone),” by Fritz Gilbert, theretirementmanifesto.com, Nov. 21, 2024.“The Role of Annuities in Retirement Planning 2024,” Webinar with Dana Anspach, sensiblemoney.com, May 24, 2024.“5 Top Regrets of Retirees (and How to Avoid Them),” by Fritz Gilbert, theretirementmanifesto.com, Jan. 30, 2025.“How Social Security Spousal Benefits May Change My Claim Date,” by Dana Anspach, theretirementmanifesto.com, June 26, 2025.“Rethinking the 4% Safe Withdrawal Rule,” by Fritz Gilbert, theretirementmanifesto.com, Nov. 18, 2021.“Don't Cheat Yourself With the 4% Rule! 2021,” Webinar with Dana Anspach, sensiblemoney.com, May 18, 2021.The Safe Withdrawal Rate Series (Early Retirement Now with Karsten Jeske, also known as “Big Ern”)Tax Planning“The Golden Age of Roth Conversions,” by Fritz Gilbert, theretirementmanifesto.com, Oct. 12, 2023.“My Biggest Surprise in Retirement,” by Fritz Gilbert, theretirementmanifesto.com, June 12, 2025.OtherFreedom for FidoThe Four Phases of Retirement: What to Expect When You're Retiring, by Riley MoynesDie With Zero: Getting All You Can From Your Money and Your Life, by Bill Perkins“Guaranteed Income: A License to Spend,” by David Blanchett and Michael Finke, Retirement Income Institute, June 2024.A Richer Retirement: Supercharging the 4% Rule to Spend More and Enjoy More, by Bill BengenAsset Dedication

HEADLINE: MIT Professor Explains the Discovery of Ionic Liquid, Expanding Search for Extraterrestrial Life GUEST AND TITLE: Professor Sara Seager, Massachusetts Institute of Technology; David Livingston, Dr. Space of the Space Show SUMMARY: Professor Sara Seager discusses the accidental lab discovery of ionic liquids, a non-evaporating liquid salt potentially sustaining life on planets without water, expanding the traditional "habitable zone" concept. She envisions future missions like a Solar Gravitational Lens Telescope. For her lifetime, Professor Seager prioritizes privately funded "Morning Star missions" to Venus, beginning with Rocket Lab in 2026, to directly study its cloud particles for signs of life in this overlooked sister planet. 1959

    CBS EYE ON THE WORLD WITH JOHN BATCHELOR SHOW SCHEDULE 1957 9-15-25 GOOD EVENING.  THE SHOW BEGINS IN TROUBLED AMERICA... FIRST HOUR 9-915 HEADLINE: Global Allies Worry About US Division, Adversaries Exploit Weakness GUEST AND TITLE: Ambassador Husain Haqqani, Hudson Institute Director of Eurasia Project; Bill Roggio, Senior Fellow for the Foundation for Defense of Democracies SUMMARY: Ambassador Husain Haqqani states US allies are "very worried" by American internal division and extreme rhetoric, unlike past unity. Bill Roggio notes similar European issues, but the US now seems to lead in domestic disorder. Adversaries like China, Russia, and Islamist extremists exploit this polarization, using social media manipulation and citing Western decline. Both emphasize leaders must reduce aggressive rhetoric, promote bipartisan cooperation, and control social media to heal divisions, advocating for unity to counter external exploitation and domestic radicalization. 915-930 HEADLINE: Global Allies Worry About US Division, Adversaries Exploit Weakness GUEST AND TITLE: Ambassador Husain Haqqani, Hudson Institute Director of Eurasia Project; Bill Roggio, Senior Fellow for the Foundation for Defense of Democracies 930-945 HEADLINE: Political Crises Deepen in Brazil and Venezuela Amidst US Pressure GUEST AND TITLE: Alejandro Peña Esclusa, Venezuelan writer and thinker; Ernesto Araújo, former Foreign Minister of the Republic of Brazil SUMMARY: Ernesto Araújo discusses former Brazilian President Jair Bolsonaro's conviction for an alleged assassination plot, calling it a "show trial" despite a dissenting judge's opinion. He notes Bolsonaro's failed anti-system movement. Alejandro Peña Esclusa reports a US military buildup near Venezuela, fostering internal military discussions about turning in Maduro. Both believe their countries' fates are linked; Venezuela's liberation could expose a crime network, potentially delegitimizing Lula's regime and fostering broader Latin American freedom 945-1000 HEADLINE: Political Crises Deepen in Brazil and Venezuela Amidst US Pressure GUEST AND TITLE: Alejandro Peña Esclusa, Venezuelan writer and thinker; Ernesto Araújo, former Foreign Minister of the Republic of Brazil SUMMARY: Ernesto Araújo discusses former Brazilian President Jair Bolsonaro's conviction for an alleged assassination plot, calling it a "show trial" despite a dissenting judge's opinion. He notes Bolsonaro's failed anti-system movement. Alejandro Peña Esclusa reports a US military buildup near Venezuela, fostering internal military discussions about turning in Maduro. Both believe their countries' fates are linked; Venezuela's liberation could expose a crime network, potentially delegitimizing Lula's regime and fostering broader Latin American freedom SECOND HOUR 10-1015 HEADLINE: Houthis Remain Undeterred Despite Israeli Strikes and US Sanctions GUEST AND TITLE: Bridget Toomey, Foundation for Defense of Democracies Houthi Watcher; Bill Roggio, Senior Fellow for the Foundation for Defense of Democracies SUMMARY: Bridget Toomey reports Houthis continue daily drone and missile launches towards Israel, with Israeli Iron Dome defenses proving effective. Israel responded with strikes on Houthi military and media infrastructure in Sana'a, causing civilian casualties. US Treasury sanctioned 32 Houthi-affiliated individuals/entities for supporting Iranian-backed smuggling networks. Toomey confirms Iran absolutely provides weapons, mostly via ship routes, despite interdiction efforts. She notes Houthis are undeterred, fueled by past attacks, and will likely continue unless Iran is held accountable. Bill Roggio critiques a recent, unsuccessful Israeli strike in Doha. 1015-1030 HEADLINE: Houthis Remain Undeterred Despite Israeli Strikes and US Sanctions GUEST AND TITLE: Bridget Toomey, Foundation for Defense of Democracies Houthi Watcher; Bill Roggio, Senior Fellow for the Foundation for Defense of Democracies SUMMARY: Bridget Toomey reports Houthis continue daily drone and missile launches towards Israel, with Israeli Iron Dome defenses proving effective. Israel responded with strikes on Houthi military and media infrastructure in Sana'a, causing civilian casualties. US Treasury sanctioned 32 Houthi-affiliated individuals/entities for supporting Iranian-backed smuggling networks. Toomey confirms Iran absolutely provides weapons, mostly via ship routes, despite interdiction efforts. She notes Houthis are undeterred, fueled by past attacks, and will likely continue unless Iran is held accountable. Bill Roggio critiques a recent, unsuccessful Israeli strike in Doha. 1030-1045 HEADLINE: South Korea's President Accused of Aligning with CCP and North Korea GUEST AND TITLE: Morse Tan, former US Ambassador at Large for Global Criminal Justice; Gordon Chang, author and geopolitical analyst SUMMARY: Morse Tan and Gordon Chang discuss South Korean President Yoon Suk-yeol's policies, including a visa waiver for Chinese tourists, which Tan likens to CCP tactics. Tan claims Yoon aligns with the Chinese Communist Party and North Korea, dismantling counterintelligence and attending parades with Putin and Kim Jong-un. He reports Chinese nationals, pro-Yoon, illegally voted, and a third of South Korean police are reportedly CCP operatives. Yoon'sapproval is low, with most Koreans distrusting the CCP and prioritizing the US alliance. 1045-1100 HEADLINE: China's Advanced Weapon Systems and Global Asteroid Defense Ambitions GUEST AND TITLE: Rick Fisher, Senior Fellow, International Assessment and Strategy Center; Gordon Chang, author and geopolitical analyst SUMMARY: Rick Fisher discusses China's new DF-26D ballistic missile, capable of intercepting aircraft carriers up to 4,000 km, and other advanced unmanned weapon systems surpassing US capabilities. Gordon Chang questions US defense against these hypersonic threats. Fisher notes Russia's Energia space program faces financial distress due to the Ukraine war. China proposes an international asteroid defense, inviting global participation. Fisher warns this PLA-controlled initiative could be a front to develop anti-satellite capabilities and challenge the US in future conflicts. THIRD HOUR 1100-1115 HEADLINE: Ukraine Advances in Sumy, NATO Urged to Boost Russia Sanctions GUEST AND TITLE: John Hardie, Foundation for Defense of Democracies; Bill Roggio, Senior Fellow for the Foundation for Defense of DemocraciesSUMMARY: John Hardie discusses Ukrainian advances in the Sumy border area, noting Russia has redeployed better units to other regions like Donetsk, focusing on areas near Pokrovsk. He suggests Ukraine's counterattacks are part of an active defense, and their focus on Pokrovsk is strategically sound despite manpower shortages. Hardie highlights recent massive Russian drone barrages, including one into Poland, as a "wake-up call" for NATO to improve cost-effective air defenses. He advocates for stronger US secondary sanctions on Russian oil revenue and untying Ukraine's hands for long-range strikes. 1115-1130 HEADLINE: Ukraine Advances in Sumy, NATO Urged to Boost Russia Sanctions GUEST AND TITLE: John Hardie, Foundation for Defense of Democracies; Bill Roggio, Senior Fellow for the Foundation for Defense of Democracies130-1145 HEADLINE: MIT Professor Explains the Discovery of Ionic Liquid, Expanding Search for Extraterrestrial Life GUEST AND TITLE: Professor Sara Seager, Massachusetts Institute of Technology; David Livingston, Dr. Space of the Space Show SUMMARY: Professor Sara Seager discusses the accidental lab discovery of ionic liquids, a non-evaporating liquid salt potentially sustaining life on planets without water, expanding the traditional "habitable zone" concept. She envisions future missions like a Solar Gravitational Lens Telescope. For her lifetime, Professor Seager prioritizes privately funded "Morning Star missions" to Venus, beginning with Rocket Lab in 2026, to directly study its cloud particles for signs of life in this overlooked sister planet.1145-1200 HEADLINE: MIT Professor Explains the Discovery of Ionic Liquid, Expanding Search for Extraterrestrial Life GUEST AND TITLE: Professor Sara Seager, Massachusetts Institute of Technology; David Livingston, Dr. Space of the Space Show SUMMARY: Professor Sara Seager discusses the accidental lab discovery of ionic liquids, a non-evaporating liquid salt potentially sustaining life on planets without water, expanding the traditional "habitable zone" concept. She envisions future missions like a Solar Gravitational Lens Telescope. For her lifetime, Professor Seager prioritizes privately funded "Morning Star missions" to Venus, beginning with Rocket Lab in 2026, to directly study its cloud particles for signs of life in this overlooked sister planet FOURTH HOUR 12-1215 HEADLINE: US Diplomat Addresses Failed Doha Strike Amidst Iranian Defiance GUEST AND TITLE: Mary Kissel, Executive Vice President, Stephens Incorporated, former Senior Advisor for the Secretary of State SUMMARY: Mary Kissel discusses Secretary of State Marco Rubio's diplomatic shuttle after an unsuccessful Israeli airstrike in Doha targeting Hamas leadership. Despite the failure, she believes Israel's defense capabilities and past decapitation efforts were incredible, fostering public resolve against terrorism. Kissel notes Qatar's role as a money-laundering center and host of terror groups, despite its strategic importance to the US. She emphasizes that Iran, the world's largest state sponsor of terrorism, remains defiant regarding its nuclear and missile programs, posing an ongoing challenge for Israel and the US.1215-1230 Guest Names: Ahmad Sharawi and Bill Roggio Summary: Ahmad Sharawi and Bill Roggio discuss Al-Sharaa, the self-named president of Syria, who was appointed by militia leaders. His loyalist-drafted constitution grants him extensive powers, with key ministries held by former HTScommanders, and minority representatives serving as mere tokens. Formal Name: Ahmad Sharawi and Bill Roggio, Foundation for the Defense of Democracies 1230-1245 HEADLINE: Genocide Allegations Against Israel Debunked by Expert Analysis GUEST AND TITLE: Peter Berkowitz, Tad and Diane Taube Senior Fellow, Hoover Institution at Stanford University SUMMARY: Peter Berkowitz debunks genocide allegations against Israel, emphasizing the UN definition requires intent to destroy a group. He questions the credibility of the International Association of Genocide Scholars. Berkowitz highlights the absurdity, noting the Palestinian population tripled since the 1980s despite such claims. He attributes propaganda success to Hamas's use of human shields, shifting responsibility for civilian casualties. A comprehensive report systematically refutes claims of deliberate starvation, civilian targeting, and infrastructure bombing, demonstrating Israel's precautions.1245-100 AM HEADLINE: Genocide Allegations Against Israel Debunked by Expert Analysis GUEST AND TITLE: Peter Berkowitz, Tad and Diane Taube Senior Fellow, Hoover Institution at Stanford University SUMMARY: Peter Berkowitz debunks genocide allegations against Israel, emphasizing the UN definition require

HEADLINE: MIT Professor Explains the Discovery of Ionic Liquid, Expanding Search for Extraterrestrial Life GUEST AND TITLE: Professor Sara Seager, Massachusetts Institute of Technology; David Livingston, Dr. Space of the Space Show SUMMARY: Professor Sara Seager discusses the accidental lab discovery of ionic liquids, a non-evaporating liquid salt potentially sustaining life on planets without water, expanding the traditional "habitable zone" concept. She envisions future missions like a Solar Gravitational Lens Telescope. For her lifetime, Professor Seager prioritizes privately funded "Morning Star missions" to Venus, beginning with Rocket Lab in 2026, to directly study its cloud particles for signs of life in this overlooked sister planet. 1955