Podcasts about morningstar

Don and Tom open with the investor mistakes Christine Benz highlighted in Morningstar: portfolio sprawl, concentration in the same large-cap tech names, clinging to ancient active funds, ignoring reallocations, and failing at both asset allocation and asset location. The show then shifts into calls—first about fears of an “AI crash,” then a heartbreaking case of an 80-year-old widow stuck in an expensive, incoherent Schwab-built portfolio, which Don dismantles live. Later, Roth conversion strategy, smishing scams, and a closing riff on Bitcoin's extreme volatility versus gold. A packed episode on how bad habits, high fees, and fear derail investors—and how a simple, globally diversified plan avoids most of it. 0:04 Intro and Christine Benz's list of common portfolio mistakes 0:56 Portfolio sprawl and “hodgepodge-itis” 1:32 Overloaded baskets of large-cap tech stocks 2:52 The 31-year-old underperforming fund problem 3:54 Active vs. passive: the shift the industry still hasn't admitted 4:03 Asset allocation errors driven by ignoring the plan 4:51 Why rebalancing matters (and why people never do it) 5:40 Asset location mistakes and why taxes demand a smarter structure 6:15 Why these errors are easy to fix with a simple plan 7:58 Don solo; open phones 8:23 Caller: Fear of an “AI crash” and whether it can tank the market 11:16 Building a portfolio that can withstand any crash 13:01 International ballast and why planning matters more than predictions 14:27 Don solo again; open phones 15:17 Smishing scams and the rise of SMS-based fraud 16:13 How cheap scam-software makes fraud explode 17:08 Caller: 80-year-old widow with an awful Schwab portfolio 18:27 Don investigates the tickers—high fees, obscure funds, bad structure 19:57 Schwab dropped her; Don: “This advisor should be fired” 21:07 Why the portfolio lost money and what those numbers really mean 22:26 Active funds, high turnover, and tax drag 24:01 Don's verdict: unload the mess and move to simple, low-cost indexing 25:01 Why a target-date fund may be the cleanest fix 26:33 Take the risk quiz; why advisors should be boring 27:00 Don vents about industry incompetence and fee-only failures 28:23 Why advisors chase “exciting” instead of sound 30:02 Caller: Roth conversion when 70% of assets are in traditional IRAs 31:25 Why conversion benefits are minor but sometimes worthwhile 32:33 Strategy: convert up to top of the 24% bracket 33:19 Wrap-up and call for last questions 34:56 Gold vs. Bitcoin: which is actually stable? 36:09 Why Bitcoin's volatility makes it a terrible “currency” Learn more about your ad choices. Visit megaphone.fm/adchoices

 Our guest on the podcast today is Dan Haylett, who's the author of a new book called The Retirement You Didn't See Coming. Dan is a financial planner and head of growth for TFP Financial Planning based in the UK. Dan focuses on financial planning, retirement planning, and life planning for people over age 50. He also hosts a podcast called Humans vs. Retirement that is centered on the behavioral aspects of retirement. Prior to joining TFP, Dan occupied several positions in the asset management industry. Dan, welcome back to The Long View.BackgroundBioHumans vs. Retirement podcastThe Retirement You Didn't See Coming: The Guide to the Human Side of Retirement Nobody Warns You AboutTFP Financial Planning“Dan Haylett: Retirement Planning = Life Planning,” The Long View podcast, Morningstar.com, Dec. 5, 2023.Retirement and Happiness“Can You Afford to Retire?—3 Questions to Ask Yourself!” Humans vs. Retirement video, youtube.com, June 2025.“The Fragile Decade: Retirement's Danger Zone,” by Dan Haylett, humansvsretirement.com, June 30, 2025.“Your Brain Has Two Sides. Retirement Needs Both,” by Dan Haylett, linkedin.com, October 2025.“A Plan for Your First 12 Months in Retirement,” Humans vs. Retirement video, youtube.com, 2024.“Few and Deep: The Retirement Lens That Changes Everything,” by Dan Haylett, humansvsretirement.com, Sept. 9, 2025.“Why Retirement Can Feel More Like a Void Than a Victory,” by Dan Haylett, humansvsretirement.com, March 28, 2025.“The Best Things in Retirement Aren't Things at All,” by Dan Haylett, humansvsretirement.com, Feb. 6, 2025.“Don't Let the Fear of the Future Steal Your Retirement Joy,” by Dan Haylett, humansvsretirement.com, Jan. 14, 2025.“Longevity and Brevity: The Two BIGGEST Risks in Retirement,” by Dan Haylett, humansvsretirement.com, Sept. 3, 2024.OtherMichael Finke Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mark and Shani speak about the predatory companies encouraging you to pillage your retirement savings, and the methods that they are using to do this.You can find 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.

Could striving for the "perfect" portfolio be holding you back from the fulfilling, financially confident life you've worked so hard for? Join us as we explore why embracing a "good enough" mindset can lead to greater happiness, balance, and confidence in retirement.  In this episode, we discuss:  The myth of the "perfect" portfolio  Satisficers vs. Maximizers  The Boglehead Paradox  Your life's "cups" of energy  Today's article is from the Morningstar titled, The Case for a 'Good Enough' Portfolio. Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation. Show Notes: HowardBailey.com/533

Investors are betting big on bond exchange-traded funds. Hundreds of billions of dollars have poured into bond ETFs in the first nine months of 2025. And more of these strategies have hit the market over the past several years. It's important to remember that some bond ETFs are riskier than others. What should investors consider before tweaking their portfolio? Dan Sotiroff, a senior manager research analyst at Morningstar Research Services and the editor of the Morningstar ETFInvestor newsletter, discusses that and shares five top ideas for income investors.Subscribe to Morningstar ETFInvestor for the full list of highly-rated bond ETFs. 00:00:00 Introduction00:00:54 Bond ETFs are having a banner year. Why are investors turning to these investments? 00:02:31 Which is getting the bigger slice: passively or actively managed bond ETFs?00:03:15 What are the four major types of bond ETFs, and how do they differ?00:04:35 This month's edition of Morningstar ETFInvestor analyzed more than a dozen bond ETFs. What makes a core bond ETF a solid portfolio building block?00:05:47 What's the top idea that's received high marks from Morningstar?00:06:27 We're shifting from the least risky to the next level up, core-plus. What do these bond ETFs typically offer that an index-tracking ETF does not?00:07:11 Can you tell us one intermediate core-plus bond ETF that's earned a Gold rating from Morningstar?00:07:44 Multisector bond ETFs take on a bit more risk than the previous two categories, and that comes with an expectation of more income. Should income investors skip the others and start here?00:08:59 It's time for the third top idea. What multisector bond ETF should folks consider?00:09:25 High-yield bond ETFs are the riskiest among the categories we're discussing today. What additional risks are investors taking on for the juicy yields?00:10:30 Morningstar does not currently rate any actively managed high-yield bond ETFs. Is there one that income investors should watch?00:11:28 What's the takeaway for folks figuring out if these types of bond ETFs fit in their portfolios?Watch more from Morningstar:Investors Still Need to Mind the Gap in Their Funds' ReturnsThe US Dollar Is Weak. Is Your Portfolio at Risk?2025's Winners and Losers, from Gold to Small Cap Stocks to the 60/40 PortfolioFollow 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.

‘It's an exciting time for us at Morningstar South Africa, as we've initiated analyst coverage on a few South African funds for the first time' – Michael Dodd, Senior Fund Analyst, Morningstar Investment Management.

Investing is rarely a set-and-forget process, no matter how much we may wish it were. Changing goals, personal circumstances and markets mean reviewing and renewing your strategy, often several times. Morningstar's Director of Personal Finance Mark LaMonica shares his views on: Why he hates inspo without strategy The set of principles he uses to help investors keep themselves on track and in the game What he's learned from decades of working with direct investors, and Why the person who's supposed to be passive is you. You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean, Spotify or at nabtrade.com.au/yourwealth. If you're short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won't just reduce your listening time; it has also been shown to improve knowledge retention.

In this heartfelt and insight-rich conversation, Haylee Ergenekan, Director of Sales & Marketing at MorningStar Senior Living, shares how her background in luxury hospitality shaped a new, deeply human approach to senior living marketing.From calling prospects by name to hosting networking events like boutique dinner parties, Haylee focuses on creating spaces that feel like home — not just selling units. She discusses the power of emotional details, the importance of authentic outreach, and why “belonging” is the real product we should all be selling.Whether you're in senior living, hospitality, or marketing, this episode will leave you thinking differently about the work you do.Guest BioHaylee Ergenekan is the Director of Sales and Marketing at MorningStar Senior Living in Hillsboro, Oregon. With a background in luxury hospitality, she brings a unique, heart-first approach to senior living—where every detail is a chance to create belonging. From personalized tours to impactful events, Haylee leads with empathy, story, and an unshakable belief in the dignity of aging.Timestamps:01:03 – Meet Haylee Ergenekan, Director of Sales & Marketing at MorningStar Senior Living02:24 – The MorningStar story and its presence across 11 states03:15 – Haylee's journey from luxury hospitality to senior living05:07 – How five-star hospitality shapes her approach to marketing06:56 – The power of emotional details: names, memories, and connection09:39 – Balancing numbers with heart: marketing through moments12:13 – Moving stories: helping seniors say goodbye to home with dignity14:46 – Events that resonate: making outreach feel like a privilege17:00 – “Setting the Table for Success” and the art of intentional networking20:29 – Cultivating a hospitality culture beyond the sales team23:58 – Leading by example: modeling genuine care for residents and staff26:31 – The next chapter: authenticity and belonging as the future of senior living marketing

Robert D. Morningstar is currently Co-Editor of UFO Digest. RDM is a civilian intelligence analyst, and photo analyst living in New York City. He is a graduate of Power Memorial Academy ('67) with a degree in psychology from Fordham University ('74). While at Fordham University, Robert D Morningstar was recruited as a research associate in some of the earliest studies of "Artificial Intelligence" in a program sponsored by ONI & IBM. During the 1970s, Robert D Morningstar became a "China Watcher," specializing in Chinese language studies, as well as, a Yang Family Tai Chi master, acknowledged by the Hong Kong Tai Chi Masters Association and the highest-ranking masters in. RDM has taught Tai Chi for the East Asian Studies Department at Oberlin College (1980-81) and as an Adjunct Lecturer at Hunter College (1994-95), City University of New York. From 1992-1994, he served as a consultant and movement therapist in the Behavioral Sciences Department at The International Center for the Disabled in New York City teaching Movement Therapy, Stress Management and Behavioral Modification Programs. During the 1990s, Robert D Morningstar dedicated himself to investigating the JFK Assassination and exposed the doctoring of the Zapruder Film and the alteration of the medical and forensic evidence in the Warren Commission Report. Robert has been studying UFOs since the mid-1950s and has had several close encounters while airborne and on the ground (most recently in September '07). Morningstar is a civilian pilot, FAA-certified Instrument Ground Instructor and a USG certified Weather Specialist. Robert D Morningstar works regularly with victims of alien abduction around the world (via Internet) and uses Tai Chi, Taoist meditation methods to relieve trauma resulting from PTSS (post traumatic stress syndrome) of ETAP. Morningstar teaches psychic and psychological skills (like Remote Viewing) to combat "intruders" and thwart psychic attacks and alien abductions. Become a supporter of this podcast: https://www.spreaker.com/podcast/the-x-zone-radio-tv-show--1078348/support.Please note that all XZBN radio and/or television shows are Copyright © REL-MAR McConnell Meda Company, Niagara, Ontario, Canada – www.rel-mar.com. For more Episodes of this show and all shows produced, broadcasted and syndicated from REL-MAR McConell Media Company and The 'X' Zone Broadcast Network and the 'X' Zone TV Channell, visit www.xzbn.net. For programming, distribution, and syndication inquiries, email programming@xzbn.net.We are proud to announce the we have launched TWATNews.com, launched in August 2025.TWATNews.com is an independent online news platform dedicated to uncovering the truth about Donald Trump and his ongoing influence in politics, business, and society. Unlike mainstream outlets that often sanitize, soften, or ignore stories that challenge Trump and his allies, TWATNews digs deeper to deliver hard-hitting articles, investigative features, and sharp commentary that mainstream media won't touch.These are stories and articles that you will not read anywhere else.Our mission is simple: to expose corruption, lies, and authoritarian tendencies while giving voice to the perspectives and evidence that are often marginalized or buried by corporate-controlled media

I've seen a lot of commentary in the past few days about our government debt position. We're up over 40% of GDP - that's doubled on pre-Covid. There are those on the left who say that's too little. We should borrow more. Forget a debt ceiling, borrow more and throw it at the public service and create some jobs - any jobs. This is what Carney is doing in Canada. His budget would double Ottawa's debt to $80-odd billion. They've got Trump tariffs and weak domestic demand, so, he's getting out the deficit and trying to revive it. Make no mistake, if a Labour-led government were to get in, that is the approach we'd have taken here. Chris Hipkins has made that very clear. TPM and the Greens would make sure of it, too. What we haven't heard from them yet is how much more they're wanting to borrow. Remember Robertson has a debt ceiling of 30% of GDP. Well, didn't that go well? The fact is it's popular to spend more. It sounds like you're doing something. The more you spend, the more you care, goes the theory. Average public debt ratio to GDP for advanced economies is roughly 110%. So, we're well under that. But we're a small, isolated and trading-exposed country in the middle of trade war. What we need is headroom. Morningstar, who've just given the government AAA credit rating, said as much. And as for those banks making massive profits? Well, turns out that's actually quote important, too. Morningstar said we weathered the housing market correction so well because of well-capitalised banks that are also very liquid, and they have strong buffers to absorb losses. So not all is as it seems. Bank profits and seemingly stingy insistence on returning books to surplus not only keep our interest costs down, but also keep us afloat during touch times. See omnystudio.com/listener for privacy information.

Questa settimana facciamo luce sul paradosso che domina la finanza italiana: come fanno le grandi banche a segnare utili record (21 miliardi da inizio anno solo le big) proprio mentre il margine di interesse (il loro guadagno tradizionale sui prestiti) è in calo a causa della discesa dei tassi BCE.Quale è il filone aurifero? Sì, è la vendita di fondi, polizze e certificati... ​I conti dei Giganti: breve analisi dei bilanci di Intesa Sanpaolo e UniCredit, con il caso emblematico della battaglia di UniCredit contro Amundi per strappare una fetta maggiore dei margini sulle commissioni.L'allarme sociale: la denuncia della FABI (sindacato bancario) in Parlamento sulle pressioni commerciali allo sportello, che costringono a vendere prodotti non in linea con le esigenze dei clienti.L'Italia, il Paese più caro: sulla base dei report di Morningstar, scopriremo perché i fondi italiani hanno i costi più alti d'Europa.Gli effetti sul patrimonio: lo studio di Tosetti Value mostra in modo inequivocabile come le commissioni esose (fino al 70% del guadagno in alcuni casi) divorino i rendimenti, confermando il fenomeno del "caro risparmio gestito".​La metafora finale: usando un esempio concreto di un recente prelievo in un Bancomat a Cracovia, Salvatore ti spiegherà perché il risparmiatore "frettoloso" paga un prezzo altissimo, non solo in viaggio, ma soprattutto nei suoi investimenti.

Michele Lawrence interviews Amadea Morningstar, a pioneer in Ayurvedic nourishment and self-care, about her journey and contributions to the field. Amadea, who has a BS in Nutrition and an MA in Counseling, founded the Ayurveda Polarity Therapy and Yoga Institute in Santa Fe. She discusses her books, including "Ayurvedic Cooking for Westerners" and "Easy Healing Drinks from the Wisdom of Ayurveda," and explains the principles of Ayurvedic nutrition, polarity therapy, and Marma therapy. Amadea emphasizes the importance of individualized care and the integration of ancient practices with modern health principles. She also shares her daily spiritual practices and commitment to environmental respect. Support the showConnect with Inner Peace Yoga Therapy Email us: info@innerpeaceyogatherapy.com Website Instagram Facebook

Lochlan Halloway, Market Strategist at Morningstar, joins us for a guest episode today. He talks about whether we're in a bubble now, what investors should do and what we can learn and apply from past crashes. 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.

In this week's episode of Dividend Talk we kick off with Kimberly-Clark's surprise move to buy Kenvue, asking if it's a smart acquisition or a future balance-sheet headache. Then we review Q3 earnings from Novo Nordisk, Wolters Kluwer, and Ahold Delhaize, three European dividend powerhouses facing very different challenges.Novo Nordisk's obesity drugs, valuation reset, and dividend safety dominate the discussion, while Wolters Kluwer's high-PE sell-off and the impact of AI on research businesses spark debate on fair value and buybacks. We also look at Snap-on's double-digit dividend hike and Simon Property Group's steady income growth for REIT investors.Later, we revisit our “Monthly Dividend Portfolio” challenge from 2022, checking how picks like Altria, AbbVie, Johnson & Johnson, Realty Income, Shell, and Texas Instruments performed with lessons on dividend growth, yield, and diversification.In the listener Q&A, we cover:Dividend tax strategies and EU exit taxes How to handle rising wealth taxes as a dividend investor Fair-value analysis vs Morningstar valuations Our take on Volkswagen, General Mills, GreenCoat UK, ExxonMobil vs Chevron, and the global renewable-energy transition Thoughts on Unilever's upcoming Magnum spinoff SEE YOU ON THE INSIDE!!Tickers discussed: KMB, KVUE, NVO, LLY, PFE, WKL.AS, AD.AS, SNAP-ON, SPG, MO, ABBV, JNJ, O, TXN, SHEL, GIS, XOM, CVX, UKW.LJoin us:[Facebook] – Https://www.facebook.com/groups/dividendtalk⁠[Twitter] – @DividendTalk_ , @European_DG[Discord] – ⁠https://discord.gg/nJyt9KWAB5⁠[Premium Services] – ⁠https://dividendtalk.eu/download-your-free-samples/⁠[Malmo Meetup] – ⁠https://t.co/STgV1nMWKj

Are you getting the most out of your fund's performance? Over the past 10 years, the average dollar invested in US mutual funds and exchange-traded funds earned 1.2% less per year than what those funds returned during the same period. That's the top-line finding in this year's Mind the Gap study, which aims to address the question of where investors succeeded in capturing most of their funds' returns, and where they fell short. Jeff Ptak, a managing director for Morningstar Research Services, breaks down the takeaways from the report and what investors can do if they want to avoid leaving money on the table.Mind the Gap US 2025On this episode:How does the report measure the difference between investor returns and total returns?How does the latest research compare with previous years? Is the “gap” going away?This difference in investor returns and total returns doesn't just come from people failing to time the market. What else might cause the gap?Where have investors been able to capture most of their funds' total returns, and where have they fallen short? Are there certain categories that stand out?Exchange-traded funds continue to gain popularity and market share. Did the investment type, mutual fund or ETF, make a difference in investor outcomes?Morningstar research has found that active funds have largely struggled to beat their benchmarks, but certain categories are better suited for active management than others. Is there a difference in the investor return gap in active versus passive funds?The study found that the more investors traded, the less they made. Why is that?Morningstar has found that fees tend to be a predictor of performance. Does that finding hold when looking at investor returns?The report also looked at the effects of return volatility. How did that translate to investor outcomes?You've written that where a fund is utilized can be just as important as the type of fund and how it's used. Can you explain that?What is one takeaway from your research? Watch more from Morningstar:The US Dollar Is Weak. Is Your Portfolio at Risk?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. 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.

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 victory of Socialist Zohran Mamdani in the New York City mayor elections, the RSF capture of El Fasher in Sudan, disputed elections and popular protests in Tanzania and Cameroon, Trump's threats to Nigeria over allegations of “Christian genocide” as well as updates from the Trump-Xi meeting in Busan, South Korea.

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The private-credit boom promises high returns and flexibility - but is the shine justified? Private credit is booming - but beneath its reputation for stability and diversification lies a more complicated story. In this episode, hosted by Michelle Martin, Morningstar’s Senior Analyst Arvind Subramanian breaks down what private credit really is, why borrowers and investors are piling in, and the key marketing claims investors should interrogate. He explains how low volatility may reflect opacity rather than safety, why diversification benefits are overstated, and how floating rates can both protect and punish portfolios. We also unpack the hidden risks around leverage, liquidity, and covenant protection. Ultimately, private credit can play a role, but investors need to scrutinize fees, transparency, and risk.See omnystudio.com/listener for privacy information.

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.

What a finish to a trilogy.We are beyond glad we stuck it out and kept reading. We would have had no idea this would become one of our favorite book series. Now for our November read, check out our social medias!!

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

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

Faith to Follow God's VoiceFile Size: 72251 kbFile Type: mp3Download File [...]

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.

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.

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

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.

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.

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

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.

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