Podcasts about Vanguard

Rob Monson reveals how professionals can become A-players—and what leaders can do to retain them. — YOU'LL LEARN — 1) The hard truth many leaders don't want to accept2) What A-players do differently from the rest 3) The simple trick to get a day back every weekSubscribe or visit AwesomeAtYourJob.com/ep1108 for clickable versions of the links below. — ABOUT ROB — Rob Monson, founder of Tenfold Advisors, is Utah's leading business growth coach. A Scaling Up and Metronomics coach, he helps mid-market CEOs install disciplined systems that transform people, strategy, execution, and cash. His clients have driven Utah's most founder exits at a 7X EBITDA multiple, 10X profit gains, Inc. 5000 honors, and award-winning cultures. Formerly with Golf Channel and 1-800 Contacts, Rob now shares practical scaling insights as Tenfold Biz Coach on TikTok.• Tiktok: @rmonson12• Website: TenfoldAdvisors.com— RESOURCES MENTIONED IN THE SHOW — • Tool: Liz Wisemen Multipliers Assessment• Website: The Systems Thinker• Book: Topgrading: How Leading Companies Win by Hiring, Coaching, and Keeping the Best People, Revised and Updated Edition by Bradford Smart• Book: Who by Geoff Smart• Book: Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm by Vern Harnish• Book: The Five Dysfunctions of a Team: A Leadership Fable, 20th Anniversary Edition by Patrick Lencioni• Book: The Captain Class: The Hidden Force That Creates the World's Greatest Teams by Sam Walker• Past episode: 030: Optimal Practices for Prioritizing, Hiring, and Relating with ghSMART's Randy Street• Past episode: 552: The Foundational Principle that Separates Good Leaders from Bad Ones with Pat Lencioni• Past episode: 719: Liz Wiseman Reveals the Five Practices of Indispensable, High-Impact Players— THANK YOU SPONSORS! — • Vanguard. Give your clients consistent results year in and year out with vanguard.com/AUDIO• Quince. Get free shipping and 365-day returns on your order with Quince.com/Awesome• Cashflow Podcasting. Explore launching (or outsourcing) your podcast with a free 10-minute call with Pete.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On episode 437 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss bad breadth, a historical melt-up in tech stocks, the case against an AI bubble, sequence of return risk, the economy that's better for parents than their grown-up kids, demographic warfare, why tariffs are so confusing, the data center buildout, AI chart crimes, Michael Saylor and more. This episode is sponsored by YCharts and Vanguard. Download YCharts' Great Wealth Transfer Deck free at: https://go.ycharts.com/winning-the-next-generation-of-wealth?utm_source=Animal_Spirits&utm_medium=Original_Research&utm_campaign=Great_Wealth_Transfer&utm_content=Podcast Learn more about Vanguard at: https://www.vanguard.com/audio Sign up for The Compound newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Find complete show notes on our blogs: Ben Carlson's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠A Wealth of Common Sense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Michael Batnick's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Irrelevant Investor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Feel free to shoot us an email at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠animalspirits@thecompoundnews.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Should the new temporary senior tax deduction change your Roth conversion strategy? Joe and Big Al spitball for Chris in Maple Grove, Minnesota, who wonders whether to keep converting to Roth now that the $6,000 Senior Bonus deduction phases out with higher income, today on Your Money, Your Wealth® podcast 554 with Joe Anderson, CFP®, and Big Al Clopine, CPA. Teri from Salt Lake City's broker has amassed $60,000 of losses in Teri's $1.1 million account due to tax-loss harvesting. When is enough… enough? Windy Chicago in Chino Hills, California, wonders what to do about their cost basis vanishing after transferring mutual funds to Vanguard, and Larry and Sally from Michigan are planning for retirement while facing significant health challenges. Can they afford to bridge the healthcare gap and still retire safely? Free Financial Resources in This Episode: https://bit.ly/ymyw-554 (full show notes & episode transcript) Retirement Income Strategies Guide Retirement Rebound: 5 Plays to Help You Score a Comeback - YMYW TV Financial Blueprint (self-guided) Financial Assessment (Meet with an experienced professional) REQUEST your Retirement Spitball Analysis DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE to the YMYW Newsletter   Connect With Us: YouTube: Subscribe and join the conversation in the comments Podcast apps: subscribe or follow YMYW in your favorite Apple Podcasts: leave your honest reviews and ratings   Chapters: 00:00 - Intro 00:56 - Should We Stop Roth Conversions for the New $6,000 Senior Bonus Tax Deduction? (Chris, Maple Grove, MN) 07:44 - Lost Cost Basis After Moving Funds to Vanguard. Now What? (Windy Chicago, Chino Hills, CA) 10:21 - Tax Loss Harvesting: When Is It Too Much? (Teri, Salt Lake City) 18:49 - Can We Retire with Rising Health Costs and Care Needs? (Larry & Sally Morgan, voice) 33:34 - Outro: Next Week on the YMYW Podcast

Don and Tom tackle the timeless question: why do you invest? They challenge the “TINA” mindset (“There Is No Alternative”) and dissect new research claiming retirement savers should own no bonds at all. They argue that while stocks outperform over long stretches, bonds remain essential for emotional stability and survival during market crashes. Listeners join in with sharp questions about CD ladder withdrawal strategies, crypto-based dividend schemes, securities lending, and international ETF allocation. The show wraps with a skeptical look at Vanguard's growing tilt toward active management and new global funds from Avantis. 0:04 Why do you invest? Defining purpose versus chasing returns 1:29 The rise of “TINA investing” — there is no alternative to stocks? 2:30 Bonds as shock absorbers when markets collapse 3:57 Questioning global overweights in new stock research 5:01 The emotional toll of chasing maximum returns 6:12 Bonds' true role: keeping investors calm and consistent 7:50 Zweig's conclusion — even he still owns bonds 9:06 Retirement timing risk and the case for diversification 10:29 Caller Jay from Georgia — testing a five-year CD ladder withdrawal plan 12:34 Turning the CD ladder into part of a bond portfolio 13:46 What to do with the ladder during a market downturn 14:47 Caller Jason from Washington — Elon Musk, Bitcoin, and the “Strike/Strive” gimmick 15:49 The math behind high-yield crypto preferreds doesn't add up 17:18 When hype meets hazard: Ponzi parallels in risky yields 18:57 Why “everyone's doing it” isn't a defense for bad strategy 20:04 Why MicroStrategy's dividend promises defy logic 21:15 Listener question — securities lending in IRAs 23:09 How stock lending actually works (and why it barely pays) 24:18 Why most small investors shouldn't bother 27:15 Vanguard's new identity crisis: the push into active management 27:47 The profitability problem of index funds 28:53 Can Vanguard's active funds really beat their benchmarks? 31:48 Why past performance still fails as a predictor 33:14 Vanguard's crypto flirtation and industry pandering 35:43 Caller Craig from Seattle — expanding global exposure with AVNV 36:32 The case for adding Avantis International Value ETF 37:46 Early results and long-term expectations Learn more about your ad choices. Visit megaphone.fm/adchoices

Shirzad Chamine offers quick but powerful strategies to rewire your brain for better results.— YOU'LL LEARN — 1) Why you can't think your way out of stress2) How to take command of your mind in just 10 seconds3) How strengths become saboteursSubscribe or visit AwesomeAtYourJob.com/ep1107 for clickable versions of the links below. — ABOUT SHIRZAD — Shirzad Chamine is the author of the New York Times bestselling Positive Intelligence. Shirzad has lectured on Positive Intelligence® at Stanford University and has trained faculty at Stanford and Yale business schools.Shirzad has been the CEO of the largest coach training organization in the world. A preeminent C-suite advisor, Shirzad has coached hundreds of CEOs and their executive teams. His background includes a BA in psychology, an MS in electrical engineering, and an MBA from Stanford.• Book: Positive Intelligence: Why Only 20% of Teams and Individuals Achieve Their True Potential AND HOW YOU CAN ACHIEVE YOURS• Free assessment: “Saboteur Assessment"• Website: PositiveIntelligence.com— RESOURCES MENTIONED IN THE SHOW — • Book: The Power of Now: A Guide to Spiritual Enlightenment by Eckhart Tolle— THANK YOU SPONSORS! — • Vanguard. Give your clients consistent results year in and year out with vanguard.com/AUDIO• Quince. Get free shipping and 365-day returns on your order with Quince.com/Awesome• Cashflow Podcasting. Explore launching (or outsourcing) your podcast with a free 10-minute call with Pete.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Open-End vs. Closed-End Funds: The Real Difference (Without the Fluff) Let's clear something up — not all funds are created equal. You've probably heard of mutual funds and closed-end funds, and maybe someone even told you they're “basically the same.” They're not. Not even close. Here's the no-BS breakdown. 1. Open-End Funds: The Mutual Fund You Actually Know This is your classic mutual fund. It's “open” because new shares can be created or redeemed every day. You invest directly with the fund company, not through the market. Price: Always based on NAV (Net Asset Value), calculated at the end of each trading day. No discounts. No premiums. Liquidity: You can cash out anytime the market's open, and the fund company literally redeems your shares for cash. Flow of Money: Investors move in and out freely — the fund grows or shrinks with investor demand. Example: Think Fidelity Contrafund or Vanguard 500 Index Fund. Boring. Reliable. Steady as she goes. Bottom line: You buy it, they issue new shares. You sell it, they cancel shares. NAV is king. 2. Closed-End Funds: The Wall Street Wildcard Closed-end funds (CEFs) are built different. When they launch, they issue a fixed number of shares in an IPO — just like a company going public. After that, those shares trade on an exchange, like stocks. Price: Whatever the market says. Could be above NAV (premium) or below NAV (discount) — and it often is. Liquidity: You trade them like any stock — intraday, any time. Leverage: Many closed-end funds borrow money to juice returns. When markets swing, these things move hard — up or down. Flow of Money: New investors don't give money to the fund; they buy existing shares from other investors. Bottom line: CEFs live in the market, not in the manager's office. Prices move with supply and demand, not the fund's actual value. It's Wall Street meets Vegas.

In this special Investing 101 episode, the Rational Reminder hosts—Ben Felix, Dan Bortolotti, and Ben Wilson—team up to revisit the fundamental concepts that every investor should understand before diving deep into portfolio construction or market theory. Drawing from Ben's original "Investing 101" presentation and years of client experience, the trio lay out why investing matters, how inflation shapes your future, what stocks and bonds really represent, and why a disciplined, evidence-based approach beats prediction and luck every time. They unpack core ideas like financial independence, risk versus volatility, global diversification, and market efficiency, then connect them to practical tools like ETFs and Vanguard's asset allocation funds. Key Points From This Episode: (0:00:24) Why this episode revisits "Investing 101"—inspired by a listener still unsure how to begin. (0:05:03) Why investing matters: inflation erodes purchasing power, investing fights back. (0:06:33) The math of compounding: how a 7% return versus 2% changes your retirement entirely. (0:10:57) Saving early and often: habit formation beats late-life catch-up. (0:11:53) The trade-off between saving more and taking more investment risk. (0:14:04) Utility theory and the psychology of saving when young. (0:16:39) Marginal utility: when more money no longer adds happiness or purpose. (0:20:47) Stocks and bonds explained: ownership versus lending and the role of each. (0:23:11) The Japan story: a cautionary tale about chasing past winners. (0:26:49) Narrative investing: why investors love stories and get burned by them. (0:30:19) Market capitalization weighting—how global prices tell you what to own. (0:33:42) The stock market is not the economy: why news headlines mislead investors. (0:37:14) The power of diversification: why most individual stocks fail—and a few drive all returns. (0:41:56) Bonds, volatility, and inflation risk—why "safe" assets aren't risk-free. (0:44:41) Building your mix: matching volatility tolerance with long-term goals. (0:45:10) The behavioral challenge: risk is only useful if you can stay invested. (0:48:08) Active management as gambling: adding unrewarded noise to your portfolio. (0:51:43) The paradox of skill: why markets punish even brilliant active managers. (0:55:51) Efficient markets and Eugene Fama: the evidence that prices already reflect all information. (1:00:20) How small fees compound into big losses over decades. (1:03:07) The behavioral hurdle of indexing: trusting a system with "no one at the wheel." (1:04:54) The real value of financial advice: behavior, discipline, and holistic planning. (1:07:24) Implementing the plan: how asset allocation ETFs simplify everything. (1:11:41) Rebalancing and emotion: why automation protects investors from themselves. (1:14:24) Paying a bit more for simplicity: why 0.10% in fees can be worth it. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://ca.linkedin.com/in/dan-bortolotti-8a482310 Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Great News: savings are at an all-time high! We dive into Vanguard's How America Saves 2025 report and reveal why more Americans than ever are contributing to their 401(k)s, increasing their deferrals, and choosing Roth options. You'll learn what's driving the shift, how small 1% increases can have massive long-term impact, and what this means for your own retirement journey. Stick around to the end to hear us answer your questions! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. DRINKAG1.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Anleihen gelten als Stabilitätsanker im Portfolio. Doch in der Niedrigzinsphase brachten sie kaum Rendite, und 2022 verloren sie parallel zum Aktienmarkt deutlich an Wert. Haben Anleihen und Anleihen-ETFs heute noch ihre Berechtigung – und wie lassen sie sich sinnvoll im Portfolio einsetzen? Oder ist ein Portfolio-ETF die bessere Wahl? ETF-Expertin Chris Hofmann (Vanguard) gibt die Antworten. Viel Spaß beim Anhören! ++++++++ Marketinginformation. Zum Weltspartag lohnt sich ein Blick auf die Invesco ETFs. Mit ETF-Sparplänen investierst du einfach und kostengünstig – schon mit kleinen Beträgen. Besonders Einsteiger können potenziell von breiter Diversifikation, dauerhaft niedrigen Gebühren und der Flexibilität profitieren. Einfach Daten in den Sparplanrechner eingeben und du erhältst deinen persönlich zugeschnittenen Sparplan. Unsere Empfehlung für alle, die langfristig Vermögen aufbauen möchten – ganz ohne komplizierte Entscheidungen. Entdecke mehr dazu auf https://go.extraetf.com/invesco-podcast-FTSE-sparplanrechner-291025 oder www.invesco.de. Kapitalanlagerisiko ++++++++

Peso Pluma BioSnap a weekly updated Biography.Last night at the 2025 Billboard Latin Music Awards in Miami, Peso Pluma and Kenia Os owned the blue carpet as the most buzzed-about couple of the event. Outfitted in bold style—Peso in a sharply tailored tux with his trademark undone bowtie, Kenia in a glamorous, sheer black dress with a striking blue feathered stole—they stunned the cameras and set social media abuzz. According to Hola!, their chemistry was undeniable both on the carpet and onstage, where Kenia made headlines presenting Peso Pluma with the ceremony's first-ever Vanguard Award. The couple's public affection, including a kiss in view of the crowd, quickly trended online. Latin Times emphasized the magnitude of the moment not just for their romance but for fashion: Peso wore a Jacob & Co. Caviar Tourbillon watch valued at $880,000 while Kenia dazzled in $400,000 diamond earrings, marking them as the evening's style icons.Peso's performance of his new single Turn Off the Light (or Apaga La Luz) drew accolades for his energy and the significance of the genre-bending corridos tumbados, which the Vanguard Award specifically recognized. His acceptance speech, filled with praise for Kenia and the artists behind him, was widely shared across music blogs and social platforms, further solidifying his leadership in Mexican music's global ascent.Businesswise, the buzz continued in Las Vegas, where Cymbiotika Wellness Bar at Fontainebleau created a Peso Pluma signature smoothie. PR Newswire reports that the launch coincided with Peso's appearance at ComplexCon 2025, where he attracted a massive crowd and personally interacted with fans at meet-and-greets. The exclusive smoothie features ingredients like oats, coconut milk, liposomal mushrooms, and dates—marketed as the ultimate pre-show or pre-workout boost, reflecting Peso's emphasis on wellness and daily performance.Complex highlighted Peso Pluma as a top draw at the star-studded ComplexCon alongside names like Yeat and Clipse, underscoring his broad crossover success. On the flip side, AOL reported Peso Pluma recently canceled an Indiana concert following cartel death threats—a reminder of ongoing security concerns that periodically impact his touring schedule. While unconfirmed rumors about beefs or splits have circulated online, all verified reports point only to a flourishing career and high-profile romance. For now, Peso Pluma remains not just a trending artist but a genuine force in music, fashion, and business, with his latest headlines echoing far beyond Latin pop.Get the best deals https://amzn.to/3ODvOtaThis content was created in partnership and with the help of Artificial Intelligence AI

Don and Tom tackle the timeless topic of diversification — why it's back in style, why it's so hard to maintain, and why most investors (and pros) still get it wrong. They walk through how market “leadership” shifts over decades, the global vs. U.S. split, and why comparing your portfolio to the S&P 500 is often a trap. Listener questions cover ETF access at T. Rowe Price and Vanguard, whether to invest or pay down debt, and how the 5% flexible withdrawal rule works in early retirement. Plus, the guys riff on Halloween candy inflation, Social Security COLA bumps, and Don's LitReading “Scary Story Season.” 0:04 Show open — Saturday radio edition and why repetition matters in financial education 1:03 The fashion of diversification — and why it's “back in style” 2:27 International and small-cap value resurgence 3:15 Why investors chase past returns instead of diversifying 4:02 Gold, inflation, and recency bias — lessons from the 1980s 5:21 U.S. vs. international allocation debate: market cap vs. 50/50 6:20 The long wait for Japan's market recovery 7:41 Practical diversification tools — AVGE, DFAW, VT 8:19 Stop comparing everything to the S&P 500 9:08 Historical proof: global portfolio vs. S&P since 1931 10:02 Caller Charlie — buying Avantis or DFA ETFs through T. Rowe Price or Vanguard 12:39 How fund custodians differ from managers 13:27 Checking portfolio exposure with Morningstar 14:42 Caller Gabe — invest or pay off debt? 16:45 When to pay off a car loan vs. mortgage 19:35 How to handle multiple mortgages and long-term plans 20:22 Social Security's 2026 COLA bump and the “good news/bad news” of $102 more a month 22:21 Inflation realities — coffee, beef, and Halloween candy 25:02 Candy talk — shrinkflation and Don's trick-or-treat haul 25:54 LitReading plug: “Scary Story Season” and Philip K. Dick's The Hanging Man 27:34 Search “Don McDonald” in Apple Podcasts — chiropractor cameo included 29:05 Listener Victor (a.k.a. George) — can $4 million last 60 years with 5% withdrawals? 31:38 How the flexible withdrawal method works in practice 33:49 Retirement purpose, Monte Carlo results, and FIRE skepticism 37:41 Kindleberger quote on bubbles and envy: “There's nothing so disturbing as to see a friend get rich.” 38:55 Kindleberger's background and Manias, Panics, and Crashes Learn more about your ad choices. Visit megaphone.fm/adchoices

Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.DAMIONAmazon to announce largest layoffs in company history, in AI push. WHO DO YOU BLAME?Former CEO Jeff BezosAICovid (This wave of layoffs results from overhiring during the pandemic)Executive Chair and largest shareholder Jeff BezosF5 Expects Revenue Hit From Cyber Attack. F5, a $20B billion technology company with impressive gross profit margins of 81%, experienced a cybersecurity incident involving unauthorized access to certain company systems by a sophisticated nation-state threat actor. WHO DO YOU BLAME?The Risk committee: Dreyer, Klein, Montoya, Budnik*Chair Marianne Budnik is deemed to have Cybersecurity experience because she serves as a Chief Marketing Officer in the cybersecurity industryPeter Klein was the CFO at Microsoft for less than 4 years, then was the CFO for WME for 6 months and then has only been a director since 2014.Risk committee member Michael Montoya specifically. F5 revealed that the director mysteriously resigned in the same filing it disclosed the cyberattack, despite having served for only 4 years. According to the proxy, had “extensive experience as an information security executive.” Following his resignation from the Board, Mr. Montoya continued his service with the Company and has been appointed as F5's Chief Technology Operations Officer.The entire board, for doing dumb modern day board things: announced that CEO François Locoh-Donou, would assume the additional role of Chair of the Board following the Company's next Annual Meeting of Shareholders 12 days after they announced the cyberattack.Investors. 98% YES average this year: 7 over 99.2%, including Risk Committee Chair Marriane Budnik with 99.6%. Nobody feels like they have to work hard to impress anyoneF5! It's a god damn cybersecurity company!How climate change is fueling Hurricane Melissa's ferocity. WHO DO YOU BLAME?Exxon CEO Darren Woods because he sued his own shareholders last year: Arjuna Capital, LLC and Follow ThisExxon CEO Darren Woods because just yesterday: Exxon sues California over new laws requiring corporate climate disclosuresExxon CEO Darren Woods because gas and oilClimate ChangeOpenAI says U.S. needs more power to stay ahead of China in AI: ‘Electrons are the new oil' WHO DO YOU BLAME?The fear-and-spending geniuses behind the original Cold War: Truman, Stalin, ChurchillPeople who historically ignored Eisenhower and his statements on the U.S. military-industrial complex when he explicitly warned that defense contractors and the military could exert undue influence on government policy. Sound familiar?Anyone who empowered the board to not be empowered when they tried to fire Sam Altman for such reasons as:Conflicts over OpenAI's rapid growth and direction, especially the tension between aggressive AI deployment vs. safety oversight.Power dynamics between Altman, key researchers, and board members — some may have felt he had too much unilateral control.The college that let Sam Altman drop outSammy Altman Citi's Jane Fraser consolidates power with board chair vote — and a $25 million-plus bonus to boot. WHO DO YOU BLAME?The entire Compensation, Performance Management and Culture CommitteeThese two long-tenured Compensation, Performance Management and Culture Committee membersDiana L. Taylor* 10 other directorships: Brookfield Corporation, Accion (Chair), Columbia Business School (Board of Overseers),Friends of Hudson River Park (Chair), Mailman School of Public Health (Board of Overseers), The Economic Club of New York (Member), Council on Foreign Relations (Member), Hot Bread Kitchen (Board Chair), Cold Spring Harbor Lab (Member), and New York City Ballet (Board Chair)Peter B. Henry*8 other directorships: Nike, Inc., Analog Devices, Inc., National Bureau of Economic Research (Board), The Economic Club of New York (Board), Protiviti (Advisory Board), Biospring Partners (Advisory Board), Makena Capital (Advisory Board), and Two Bridges Football Club (Board)The lowest common denominator effect of bank compensation committees:Wells Fargo CEO Charlie Scharf: ~$30M special equity grant tied to becoming Chair as well as CEO (3 months after meeting)Goldman Sachs: CEO David Solomon & COO John Waldron ~$80M each (retention RSUs vesting in ~5 yrs)KeyCorp: CEO Chris Gorman & four other senior execs: ~$8M for Gorman; ~$17M combined for the five NEOsThe passive ownership (re: management-friendly) of BlackRock, State Street, and Vanguard (combined 22%): without their votes at Goldman then Say on Pay was nearly tied, which might have dissuaded the year of one-off bonuses for banking CEOs??The world is about $4.5 trillion short of securing a sustainable food supply for the future, global food and ag business CEO [Sunny Verghese, CEO of food and ag company Olam Group] says. WHO DO YOU BLAME?The world's top 28 richest people (those worth ~$160 B each) together would equal $4.5 trillionThe world's greatest sycophant Tesla chair RobynDenholm: “On the pay package specifically: “It's not about the money for him. If there had been a way of delivering voting rights that didn't necessarily deliver dollars, that would have been an interesting proposition.”Any two of these basically redundant techbro companies' market caps would sufficeNvidia ~$4.2 trillion Microsoft ~$3.8 trillion Apple ~$3.1 trillion Amazon ~$2.4 trillion Alphabet ~$2.2 trillion Meta Platforms ~$1.8 trillion Broadcom ~$1.3 trillion Taiwan Semiconductor Manufacturing Company ~$1.2 trillionBill Ackman. Because he's a douche.MATTTarget is eliminating 1,800 roles as new CEO Michael Fiddelke gets set to take over the struggling retailer - WHO DO YOU BLAME?Current CEO Brian Cornell, who's “stepping down” to the role of Executive Chair - which is basically still CEO, just on the board and doesn't have to talk to employees anymore, so he can eliminate 1800 jobs and then fade away into a multimillion dollar unaccountable board roleFuture CEO Michael Fiddelke, who starts February 1, 2026, but is current COO and was forced to send the memo to employees telling them 8% of the workforce will be cutMonica Lozano, chair of the compensation and human capital management committee of the board, who's also on the BofA and Apple boards and is the most connected board member at a highly connected board - does the chair of the human capital committee have to weigh in on firing?OpenAI - the memo makes zero mention of the fact that part of Target's problem is that it shit on gays and blacks because of a feckless internet toad named Robby Starbuck, but feels very written by AI which would account for phrases like:“Adjusting our structure is one part of the work ahead of us. It will also require new behaviors and sharper priorities that strengthen our retail leadership in style and design and enable faster execution so we can: Lead with merchandising authority; Elevate the guest experience with every interaction; and Accelerate technology to enable our team and delight our guests.”Does anyone know what that word salad actually means? Doesn't it just mean “you're fired because we basically sucked at our jobs”?Hormel recalls 4.9M pounds of chicken possibly 'contaminated with pieces of metal' - WHO DO YOU BLAME?The audit committee, the closest committee responsible for enterprise risk (ie, metal in chicken) - Stephen M. Lacy, William A. Newlands (also lead director), Debbra L. Schoneman, Sally J. Smith (chair), Steven A. White, Michael P. ZechmeisterThe governance committee - James Snee, the now retired CEO who retired somehow in January but the company still hasn't found a permanent replacement 9 months later - so they're being run by Jeff Ettinger, interim CEO? Chair Gary C. Bhojwani, Elsa A. Murano, Ph.D., William A. Newlands (also lead director), Debbra L. Schoneman, Steven A. WhiteThe one black guy on the board - Steve White - who works at Comcast, is somehow qualified to be on Hormel board, and is on BOTH the audit committee AND governance committeeThe conveyor belt that spit pieces of metal as large as 17mm long into “fire braised chicken” sent to hotels and restaurantsCervoMed appoints McKinsey veteran David Quigley to board of directors - WHO DO YOU BLAME? Board is 2 VCs, a longtime biotech CFO, and five MD/PhDs. And among those 8, there are just two woman - the co-founder/wife of the CEO and a VC. And when they did their search, they could only find a longtime professional opinion haver - a consultant from the big three?Nominating committee for lack of imaginationEx or current McKinsey, Bain, and BCG employed directors - the opinion industrial complex - make up a whopping 4% of ALL US DIRECTORSAmong boards with MULTIPLE ex opinion directors: Kohl's is 25% consultantStarbucks is 27% consultantDisney is 30% consultantsWilliams-Sonoma is 38% consultantCBRE is 40% consultant!Nominating committee chair Jane Hollingsworth, for not looking around the room and saying, “hey dudes, can we add, like, maybe, ONE other lady?”Co founders Sylvie Gregoire and John Alam (also CEO) who own 17.3% of voting power - add in Josh Boger, board chair and 12.3% voter, and you basically have the CEO daddy and his buddy Josh with 29.6% of voting controlSylvie and John's bios, which neglect to mention they're married to one anotherWe are all terrified of the future - which headline is worse for your terror? WHO DO YOU BLAME?The world is about $4.5 trillion short of securing a sustainable food supply for the future, global food and ag business CEO saysBill Gates Says Climate Change ‘Will Not Lead to Humanity's Demise' - ostensibly because billionaires in bunkers will, in fact, survive on cans of metal-filled Hormel chili.Sorry, Yoda. Mentors are going out of styleMan Alarmed to Discover His Smart Vacuum Was Broadcasting a Secret Map of His HouseJennifer Garner's baby food company is going public on the NYSE — should investors be putting their eggs in this basket?Woman Repeatedly Warned by Canadian Exchange Not to Transfer Crypto, Gets Scammed AnywayOpenAI completes restructure, solidifying Microsoft as a major shareholder - MSFT owns 27%, the non profit which controlled the company “for the benefit of humanity” now will only control it for 26% of humanity?Tesla risks losing CEO Musk if $1 trillion pay package isn't approved, board chair says - IF MUSK LEAVES, WHO DO YOU BLAME?Robyn Denholm, board chair, whose job it is to manage Musk, but does it like an overwhelmed permissive mother who parents with chocolate and Teletubbies when the kid has a tantrumKimbal Musk - I was told by a bunch of directors and institutional investors at a conference, no joke, that Kimbal was still on the board (ie, not voted out) to control his brother's ketamine intake and crazy episodes. So if he throws a tantrum and leaves, isn't it bro's fault? This is a binary trade - Musk gets extra pay/control, stock goes up and isn't de-meme'd. Musk doesn't, he leaves and the stock is de-meme'd and drops arguably by 66% or more to be more like a car company with some tech. So do we blame investors, no matter what they do? They meme'd the stock in the first place, he couldn't get a trillion extra dollars if they hadn't pumped up the stock - and now they could vote with humanity (no pay) or meme capitalism (pay)!Techbro middle school conservatism - is this Ben Shapiro and Joe Rogan's fault? A Yale economist paper suggests that Musk's politics cost between 1 and 1.26 million Tesla car sales… Would we even be worried if Musk stayed out of politics? Wouldn't the market have just paid him whatever?Pop quiz: which directors stay on the board if Musk leaves in a tantrum?Jeffrey StraubelKimbal MuskRobyn DenholmJames MurdochKathleen Wilson-ThompsonIra EhrenpreisJack HartungJoe Gebbia

Finally, a right-wing podcast for the grindset horror fans. Join Kyle and Kay, who have always been the hosts of this specific podcast as they discuss UNTILL DAWN. Finally the only two cultural forms - movies and a strange thing call video games - collide. Welcome to ALL HORRORS ARE VANGUARD Tell us about your favorite way to maximize your ROI at patreon.com/horrorvanguard

Send us a textEpisode 260 – Jon Bello: The Evolution of Privacy in the Philippines and Across AsiaIn this episode of The Data Diva Talks Privacy Podcast, Debbie Reynolds, The Data Diva, speaks with Jon Bello, Partner at MBS Law Offices and IAPP 2025 Vanguard of the Year, about how the Philippines has emerged as a regional leader in privacy and data protection. They discuss how the country transitioned from business process outsourcing compliance to a culture of national awareness, and how its unique cultural and legal frameworks continue to influence privacy in Asia. Jon explains that the Philippines was one of the first Asian nations to pass a comprehensive data privacy law after the EU Data Directive but before the GDPR. He and Debbie examine how the Filipino language lacks a direct translation for the word “privacy,” reflecting a family-centric culture that values openness and community. They explore how this cultural context has shaped attitudes toward data sharing and protection. Jon also highlights how the National Privacy Commission has creatively raised public awareness through social media, educational jingles, and outreach campaigns aimed at children.The discussion explores how the BPO industry contributed to the passage of the 2012 Privacy and Cybersecurity Laws and how many organizations now operate under three concurrent frameworks: U.S. privacy laws, such as HIPAA and PCI DSS, the Philippine Data Privacy Act, and the GDPR. Jon explains the importance of the Philippine requirement for a “privacy manual,” which goes beyond a privacy policy to define accountability and governance, as well as the legal requirement to register Data Protection Officers. Debbie and Jon also examine the region's growing focus on AI governance, including Japan's soft-law model and the Philippines' proposed registration system for high-risk AI. The episode highlights the cultural diversity and context-specific nature of Asia's privacy frameworks, underscoring their critical role in the global dialogue on privacy and technology.Support the show

Tom Cock and Apella Wealth advisor Roxy Butner team up for a lively listener Q&A episode covering everything from the new wave of penny-stock IPOs to retirement readiness and tax traps. Tom opens with a warning about the surge in risky penny-stock offerings, then the two dive into listener questions about annuity sales pressure at Fidelity, portfolio diversification mistakes, CD taxation myths, Roth conversions, and one standout 21-year-old listener getting her financial life off to a stellar start. 0:05 Tom opens with a warning about the explosion in penny-stock IPOs 1:26 Why “lottery-ticket” stocks nearly always burn investors 2:21 Diversify, stay tax-efficient, and skip the hype 2:30 Roxy joins for listener Q&A 3:38 Fidelity's annuity pitch — a listener wonders if it's time to leave 5:05 Who's truly fiduciary: Fidelity vs. Vanguard vs. Apella 6:14 Vanguard dipping a toe into crypto 6:51 Quabina from Ohio: $2.2M at 47 — diversified enough to retire at 55? 8:14 Missing global diversification and bonds in an all-U.S. portfolio 9:57 Early-retirement planning challenges and healthcare costs 10:20 How to design the right stock-bond-international mix 11:36 Daniel from California: Are long CDs taxed as capital gains? 13:04 Why CD interest is always ordinary income — and muni bond alternatives 13:29 Year-end planning: RMDs, Roth conversions, and tax optimization 14:45 Common tax mistakes and mis-placed assets 15:19 Emily from Ohio: “Young and Dumb” — a 21-year-old investing the smart way 18:51 Building a first Roth IRA and why bonds don't belong yet 20:00 One-fund simplicity: AVGE vs. VOO 21:41 Long-term mindset: global diversification and patience pay off Learn more about your ad choices. Visit megaphone.fm/adchoices

Shawn & Daniel break down MSCI Inc. (ticker: MSCI), a company whose indexes are essential to tracking different parts of financial markets globally, becoming the go-to standard for following how stocks around the planet are performing via the MSCI World Index. Here, you'll learn about how MSCI came to dominate global financial indexes, how indexes helped fuel the passive investing revolution, whether MSCI can continue to be a “compunder” going forward, and so much more! IN THIS EPISODE, YOU'LL LEARN: 00:00:00 Intro How indexes produced by MSCI help to organize, simplify, and provide context for different aspects of financial markets Why MSCI has become the industry standard for indexes outside of the U.S. About MSCI's relationship with major asset managers like Vanguard, BlackRock, and State Street Whether direct indexing will disrupt MSCI's golden goose What makes MSCI one of the highest quality businesses we've ever looked at Whether passive investing will be a boon going forward for MSCI, or if declining management fees in mutual funds will devastate the business How to think about modeling MSCI's intrinsic value Whether Shawn and Daniel add MSCI to their Intrinsic Value Portfolio *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES The Investors Podcast Network is excited to debut a new community known as The Intrinsic Value Community for investors to learn, share ideas, network, and join calls with experts: Sign up for the waitlist(!) Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount! Podcast interview with MSCI's CEO. MSCI Investor Relations' page. Pitch for MSCI on the Value Investors Club forum. BuyBack Capital's research on MSCI. Check out The Outsiders, by William Thorndike. Explore our previous Intrinsic Value breakdowns: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Paypal⁠⁠⁠⁠,⁠⁠ ⁠⁠⁠⁠⁠⁠Uber,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nike,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Reddit,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠Amazon⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Airbnb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TSMC⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Alphabet⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ulta⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LVMH⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Madison Square Garden Sports⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Related ⁠⁠⁠⁠⁠books⁠⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try Shawn's favorite tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SPONSORS Support our free podcast by supporting our sponsors: Public.com Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On episode 214 of The Compound and Friends, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Sonali Basak, Chief Investment Strategist at iCapital and Compound host Ben Carlson to discuss: the private credit landscape, stress in BDCs, and much more! This episode is sponsored by Public and Vanguard. Fund your account in five minutes or less by visiting https://public.com/compound Learn more about Vanguard at: https://www.vanguard.com/audio Sign up for The Compound Newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Public Disclosure: All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. See terms and conditions of Public's ACATS & IRA Match Program. Matched funds must remain in the account for at least 5 years to avoid an early removal fee. Match rate and other terms of the Match Program are subject to change at any time. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use. *Rate as of 9/26/25. APY is variable and subject to change. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

On October 14th, singer, songwriter and multi-instrumentalist D'Angelo died at the age of 51. Throughout his too short life, he made three unforgettable albums and cemented his legacy as one of the great artists of his time. Hosts Jim DeRogatis and Greg Kot pay tribute to D'Angelo by talking about his life, career and musical impact. They'll also revisit their classic album dissection of D'Angelo's masterpiece, Voodoo.Join our Facebook Group: https://bit.ly/3sivr9TBecome a member on Patreon: https://bit.ly/3slWZvcSign up for our newsletter: https://bit.ly/3eEvRnGMake a donation via PayPal: https://bit.ly/3dmt9lUSend us a Voice Memo: Desktop: bit.ly/2RyD5Ah Mobile: sayhi.chat/soundops Featured Songs:D'Angelo, "Untitled (How Does It Feel)," Voodoo, Virgin, 2000The Beatles, "With A Little Help From My Friends," Sgt. Pepper's Lonely Hearts Club Band, Parlophone, 1967D'Angelo, "Brown Sugar," Brown Sugar, EMI, 1995D'Angelo, "Playa Playa," Voodoo, Virgin, 2000D'Angelo, "Chicken Grease," Voodoo, Virgin, 2000D'Angelo, "Devil's Pie," Voodoo, Virgin, 2000D'Angelo, "One Mo'gin," Voodoo, Virgin, 2000D'Angelo, "Africa," Voodoo, Virgin, 2000D'Angelo, "The Root," Voodoo, Virgin, 2000D'Angelo, "Send It On," Voodoo, Virgin, 2000D'Angelo, "Feel like Makin' Love," Voodoo, Virgin, 2000D'Angelo and the Vanguard, "Sugah Daddy," Black Messiah, RCA, 2014D'Angelo and the Vanguard, "The Charade," Black Messiah, RCA, 2014D'Angelo and the Vanguard, "1000 Deaths," Black Messiah, RCA, 2014David Bowie, "Moonage Daydream," The Rise and Fall of Ziggy Stardust and the Spiders from Mars, RCA, 1972See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Don and Tom tackle another full “Q Day,” answering listener questions on Roth fund selection, bond fund gimmicks, real estate returns, California's odd HSA tax treatment, switching from Vanguard to Avantis, copying politician trades, and whether Vanguard's Cash Plus account beats its money market fund. The episode mixes practical investing logic with humor, skepticism, and a bit of Don's plug for his new storytelling podcast, New Tales Told. 0:04 Q Day begins — Don riffs on “Q” words and high-quality listener audio 1:42 Betsy from Minnesota asks: best funds for a Roth IRA (AVUV, VOO, AVGE) 2:39 Don suggests simplifying to AVGE, but warns of risk and emotional resilience 4:12 Jesse from Seattle on CPAG “tax-efficient” bond ETF — Don calls it a gimmick 5:55 Don's math: CPAG only helps slightly at 35% tax bracket, not worth complexity 9:06 Listener compares 403(b) vs. home value growth — Don confirms results typical 12:45 Real estate's weak real return over time and lifestyle vs. investment value 12:45 California HSA confusion — Don explains CA taxes HSAs like normal accounts 15:22 Nathan from Georgia: Vanguard vs. Avantis funds, and “copy politician trades” 17:20 Don: Avantis adds small/value tilt, AVGE can simplify portfolio management 19:14 Don: “copy-trade” apps are expensive, delayed, and silly gimmicks 20:58 James from Virginia: Vanguard Cash Plus vs. money market funds 22:34 Don explains FDIC difference and risk-reward tradeoff, prefers money market 24:11 Closing reflections, legacy talk, and plug for New Tales Told Learn more about your ad choices. Visit megaphone.fm/adchoices

As 2026 approaches, AI innovation is accelerating faster than human readiness — so how can CIOs and IT leaders stay ahead? In this episode of Gartner ThinkCast, recorded on site at Gartner IT Symposium/Xpo in Orlando, Florida, Gartner experts Chris Howard and Gene Alvarez share key takeaways from three cornerstone sessions: the Opening Keynote, Top Strategic Technology Trends, and the CIO Agenda. They explore how CIOs can walk the “golden path” to value, balance AI ambition with operational readiness and prepare their teams for a future defined by agility, risk management and tenacity. Tune in to discover: Why heroes are made in the Trough of Disillusionment How CIOs can align human and AI readiness The rise of multiagent systems and domain-specific language models What the Architect, Synthesist and Vanguard roles mean for 2026 strategy Why success depends less on budget and more on resilience, adaptability and trust  Dig deeper: Download the Opening Keynote takeaways on AI readiness Explore Gartner's Top Strategic Technology Trends for 2026 Join us at a Gartner CIO Conference near you Become a client to try out AskGartner for more trusted insights

Episode #568! Works by Carl Barks, Jack Kirby and Steve Ditko! This episode we look at a number of books featuring the work of comic's top creators. Scott starts by bringing two very nice Vanguard sketchbooks to the table featuring John Romita and John Buscema.  DL has Ditko's Shorts from Craig Yoe. We also look at Fantagraphics' Complete Walt Disney's Donald Duck vol. #1, Donald Duck Finds Pirate Gold. Scott has two Jack Kirby collections from Pure Imagination. Plus plenty of extras! 

He called himself “Vanguard.” He branded women as his property, built a corporate-cult empire around control, and promised enlightenment while destroying lives. Now—five years and one hundred and twenty years into his prison sentence—Keith Raniere still believes he's the smartest man in the room. In this episode, we dive into Raniere's latest desperate attempt to overturn his NXIVM conviction, a last-ditch appeal built on claims that the FBI falsified digital evidence. His lawyers say key metadata on photos was altered. Judges say it's nonsense. And what's really on trial now isn't the evidence—it's Raniere's own ego. We break down how a man who once convinced Ivy-League grads and Hollywood actresses to worship him has spent the last decade trying to convince anyone who'll listen that he's the victim.  You'll hear how NXIVM started as a self-help “success program,” morphed into a secret society of obedience and branding, and ended with Raniere shackled in federal prison still proclaiming innocence. The court has heard it all before. The victims have lived through enough. And the narcissist at the center of it still can't accept that the spotlight's gone. This is the final chapter of a cult that mistook cruelty for enlightenment—and of a man who can't stop performing, even when his audience has left the theater. If you think justice ends when the verdict is read, think again. #KeithRaniere #NXIVM #TrueCrime #CultLeaders #HiddenKillers #Narcissism #CrimePodcast #TrueCrimeCommunity #Justice #CourtCase Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/@hiddenkillerspod Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/tonybpod Listen Ad-Free On Apple Podcasts Here: https://podcasts.apple.com/us/podcast/true-crime-today-premium-plus-ad-free-advance-episode/id1705422872

Learn how to handle holiday shopping in an increasingly expensive spending environment. Plus, lightning round insights around debt, investing, and savings goals.  How should you prepare for holiday shopping when tariffs and inflation are leading to higher prices? When should you prioritize paying off your mortgage versus investing in the market? Hosts Sean Pyles and Elizabeth Ayoola welcome back senior news writer Anna Helhoski  and data writer Erin El Issa to dig into holiday shopping trends, including ways you can save on gifts and travel while reducing stress.  Then, Sean and Elizabeth jump into a lightning round to answer a number of listener questions. They share insights on how to weigh the opportunity cost of paying off a mortgage versus investing in the market. They also look into how to better understand what your robo advisor may be investing in. And they talk about some of the smartest places to stash cash — like high-yield savings accounts or CDs — if you are planning for a short term goal.   NerdWallet Holiday shopping report: https://www.nerdwallet.com/article/studies/holiday-spending-report  Best CD rates: https://www.nerdwallet.com/best/banking/cd-rates  Best High-Yield Savings Accounts: https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In their conversation, the Nerds discuss: holiday budgeting, holiday spending tips, how to budget for the holidays, holiday shopping debt, how to avoid holiday debt, NerdWallet holiday spending report, tariffs and inflation 2025, saving for holiday gifts, managing holiday travel costs, holiday money stress, how to save for holiday travel, pay off mortgage or invest, paying off mortgage vs investing, opportunity cost investing, ETFs explained, SPY ETF, XLK ETF, Vanguard Digital Advisor, collective investment trust, CIT vs ETF, Vanguard institutional trust, best high-yield savings accounts, CD ladder strategy, best CD rates, how to save for a house down payment, short-term investing options, budgeting app, NerdWallet app, personal finance podcast, Smart Money podcast, holiday money advice, how to manage debt during the holidays. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

He called himself “Vanguard.” He branded women as his property, built a corporate-cult empire around control, and promised enlightenment while destroying lives. Now—five years and one hundred and twenty years into his prison sentence—Keith Raniere still believes he's the smartest man in the room. In this episode, we dive into Raniere's latest desperate attempt to overturn his NXIVM conviction, a last-ditch appeal built on claims that the FBI falsified digital evidence. His lawyers say key metadata on photos was altered. Judges say it's nonsense. And what's really on trial now isn't the evidence—it's Raniere's own ego. We break down how a man who once convinced Ivy-League grads and Hollywood actresses to worship him has spent the last decade trying to convince anyone who'll listen that he's the victim.  You'll hear how NXIVM started as a self-help “success program,” morphed into a secret society of obedience and branding, and ended with Raniere shackled in federal prison still proclaiming innocence. The court has heard it all before. The victims have lived through enough. And the narcissist at the center of it still can't accept that the spotlight's gone. This is the final chapter of a cult that mistook cruelty for enlightenment—and of a man who can't stop performing, even when his audience has left the theater. If you think justice ends when the verdict is read, think again. #KeithRaniere #NXIVM #TrueCrime #CultLeaders #HiddenKillers #Narcissism #CrimePodcast #TrueCrimeCommunity #Justice #CourtCase Want to comment and watch this podcast as a video? Check out our YouTube Channel. https://www.youtube.com/@hiddenkillerspod Instagram https://www.instagram.com/hiddenkillerspod/ Facebook https://www.facebook.com/hiddenkillerspod/ Tik-Tok https://www.tiktok.com/@hiddenkillerspod X Twitter https://x.com/tonybpod Listen Ad-Free On Apple Podcasts Here: https://podcasts.apple.com/us/podcast/true-crime-today-premium-plus-ad-free-advance-episode/id1705422872

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

All Chapters AI Contribution: Courtesy of Google NotebookLM

✔️ Hopium: Carl Menger meme, Wicked Chart, Govt Shutdown Fueling Bitcoins Price✔️ Paper Bitcoin Updates: Blackrock, Vanguard, MSTR✔️ KYC Fail✔️ Almost Hacked ✔️ 6.8 Billion Dollar Fraud Uncovered ✔️ The Government Loves Bitcoin✔️ Sources: ► https://x.com/whaleinsider/status/1980177444444512640?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/btctreasuries/status/1980209261843272035?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/btctreasuries/status/1980245569219232195?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/w_s_bitcoin/status/1980378971893039546► https://x.com/vexl/status/1980235049032454641?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/ronaldpol/with_replies► https://x.com/bitcoin_is_kool/status/1980031189240221713?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/carlbmenger/status/1980178437202669669?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://x.com/btcjunkies/status/1980290579784233332?s=52&t=CKH2brGypO5fEYTgQ-EFhQ► https://www.thestar.com.my/tech/tech-news/2025/10/16/uk-seeks-to-pay-back-chinese-investors-swindled-in-us68bil-bitcoin-fraud#google_vignette► https://x.com/BTC_Archive/status/1980302291950342482► https://www.federalreserve.gov/newsevents/speech/files/barr20251016a.pdf✔️ Check out Our Bitcoin Only Sponsors!► https://archemp.co/Discover the pinnacle of precision engineering. Our very first product, the bitcoin logo wall clock, is meticulously machined in Maine from a solid block of aerospace-grade aluminum, ensuring unparalleled durability and performance. We don't compromise on quality – no castings, just solid, high-grade material. Our state-of-the-art CNC machining center achieves tolerances of 1/1000th of an inch, guaranteeing a perfect fit and finish every time. Invest in a product built to last, with the exacting standards you deserve.► Join Our telegram: https://t.me/theplebunderground#Bitcoin #crypto #cryptocurrency #dailybitcoinnews #memecoins The information provided by Pleb Underground ("we," "us," or "our") on Youtube.com (the "Site") our show is for general informational purposes only. All information on the show is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on the Site. UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE SHOW OR RELIANCE ON ANY INFORMATION PROVIDED ON THE SHOW. YOUR USE OF THE SHOW AND YOUR RELIANCE ON ANY INFORMATION ON THE SHOW IS SOLELY AT YOUR OWN RISK.

Mehr Infos zu OpenAI bei Scalable Capital und alle Konditionen gibt's hier. Zion und Western Alliance haben mal kurz für Krisenstimmung gesorgt. Trump hat für schlechte Stimmung bei Eli Lilly & Novo Nordisk gesorgt. Oracle hat krasse Prognosen, aber nicht krass genug. Außerdem geht's um: Rüstung, AmEx, Continental, Kering & Boeing. Thyssenkrupps Marinetochter geht heute an die Börse und ist viel günstiger als Rheinmetall. Zu recht oder eine Chance? Wir klären auf. 50.000 Milliarden an verwahrtem Vermögen. Die ETF-Marke SPDR. 3% Dividende. State Street (WKN: 864777) hat viel zu bieten. Konkurrenz wie Vanguard und Co. leider auch. Diesen Podcast vom 20.10.2025, 3:00 Uhr stellt dir die Podstars GmbH (Noah Leidinger) zur Verfügung.

In this episode of Wealth Management Invest, host David Bodamer speaks with Todd Schlanger, CFA, senior investment strategist for multi-asset investing at Vanguard, to explore how advisors can approach portfolio construction in today's market.  Todd shares why the 60/40 portfolio still plays a crucial role, the rise of dynamic and active-passive strategies, and the increasing … Read More Read More

In this AMA episode of the Rational Reminder Podcast, Ben Felix and Dan Bortolotti return to answer listener questions across a wide range of topics—from covered call ETFs and dividend tax credits to currency hedging, bond mechanics, leverage, and career reflections. They open with a striking quote from Harvard economist John Campbell on how markets cater to perceived benefits rather than real ones—a perfect setup for their recent discussions on the rise of covered call ETFs.   Key Points From This Episode: (0:59) John Campbell's quote on capitalism's tendency to meet perceived rather than rational needs—and how that perfectly describes the financial industry. (3:44) Covered calls as the perfect example: products that respond to investor demand for yield, not what's actually in their best interest. (4:49) Dan compares income-chasing in covered call ETFs to Apple's marketing genius—except in finance, the benefits flow mostly to issuers, not investors. (5:48) Why dividend bias was relatively harmless, but the covered call craze is not—and how new ETFs “multiply like rabbits.” (7:46) Ben's analysis: in every example studied, covered call investors ended up with less wealth than those holding the underlying equities. (8:13) The hidden trade-off: holding covered call ETFs is like keeping 25–30% of your portfolio in cash for a decade. (9:33) Lighter interlude: Dan teases Ben about his lentil (and later cabbage) lunches. (9:59) First AMA question: Are domestic dividend tax credits already priced into stock valuations? (Short answer: partially, depending on investor composition.) (12:13) Why even if tax benefits are “priced in,” Canadians with favorable tax rates still come out ahead. (15:58) Hedging currencies in commodity economies like Canada and Australia—when it helps, when it hurts, and why there's no perfect answer. (18:48) Dan explains why unhedged portfolios can actually be less volatile for Canadians and why most hedging is imprecise and costly in practice. (20:03) Behavioral perspective: splitting the difference between hedged and unhedged can be the “strategy of least regret.” (21:06) Bonds demystified—why falling prices during rising rates affect funds and individual bonds equally. (22:22) Understanding duration: bond ETFs are designed to stay at a target maturity, while individual bonds age toward zero duration. (26:03) How rising yields actually improve financial plans by boosting future expected returns. (29:08) Choosing the right bond fund duration based on your time horizon and liabilities. (33:39) Are recent bond losses an anomaly? Ben and Dan explain how decades of falling rates created unrealistic expectations. (36:21) The role of unexpected rate changes in bond volatility—and why central banks don't control long-term yields. (38:01) Market-cap weighting: why it remains the most defensible way to allocate across countries and sectors. (41:48) What's changed their thinking after six years of Rational Reminder—from Scott Cederberg's asset allocation data to the behavioral power of homeownership. (45:13) The Horizons/Global X ETF debate: how swap-based, corporate-class structures create tax efficiency—and why that efficiency could vanish. (50:42) Why PWL avoids these products: potential hidden tax liabilities and lack of transparency for clients. (54:31) Borrowing to invest: Ben outlines why leverage works in theory—but Dan explains why most investors shouldn't touch it. (57:25) New “modest leverage” ETFs (125% exposure) as a more behavioral-friendly version of borrowing to invest. (1:00:36) Fulfillment and frustration in finance: helping people achieve peace of mind vs. seeing deception still rampant in the industry. (1:03:09) Five years of Vanguard's all-in-one ETFs (like VEQT): how they've delivered exactly what they promised and reshaped DIY investing in Canada. (1:07:47) Why these “one-ticket” portfolios remain the biggest innovation in Canadian investing—and why global diversification matters more than ever. (1:08:50) Revisiting bonds in retirement: what to expect when they don't offset stock volatility, and how to rethink risk management beyond yield-chasing.   Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti — https://pwlcapital.com/our-team/ Dan Bortolotti on LinkedIn — https://ca.linkedin.com/in/dan-bortolotti-8a482310   Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Vanguardistas have more fun—so if you don't already subscribe to the podcast, join the Vanguard today via Apple Podcasts or extratakes.com for non-fruit-related devices. In return you'll get a whole extra Take 2 alongside Take 1 every week, with bonus reviews, more viewing recommendations from the Good Doctors and whole bonus episodes just for you. And if you're already a Vanguardista, we salute you.  Another packed show this week with four movie reviews for your listening pleasure. First up, ‘Black Phone 2' -- the sequel to 2021's comms-based chiller, starring Ethan Hawke. Like a lot of horror movies, the fact that his character died in the last film isn't really a big deal. Speaking of reanimation, we've got Guillermo del Toro's Frankenstein too—a fresh take on the much-adapted classic horror novel, this time starring Jacob Elordi as the monster. ‘Roofman' sees Channing Tatum hiding in a Toys ‘R' Us in a crime caper based on a bizarre true story from ‘The Place Beyond The Pines' director Derek Cianfrance—and finally, a new Luca Guadagnino out this week too. ‘After The Hunt' stars Julia Roberts as a Yale college professor frustrated by her student's allegations against a colleague... and it's ripe to get under Mark's skin—so buckle up for that one.  Plus, those of you who enjoyed Mark's review of ‘Plainclothes' last week will be pleased to hear that this week we're welcoming the very lovely Russell Tovey to the show. The charged drama follows an undercover cop assigned to arrest gay men at cruising spots—and Russell plays a target who becomes an unexpected love interest. He and Simon unpack the film and how it speaks to today—plus a bit of art chat and a mysterious arty paperback too...  Strap in too for what we think is an especially good Laughter Lift, if we do say so ourselves—and more of your top correspondence answered—including a fascinating neuroscientific take on tearjerkers. Link here to the article mentioned in that one: https://medium.com/@itsanavidreader/why-we-cry-at-movies-but-not-real-life-the-psychology-behind-emotional-processing-de18f2dbf624  And don't miss our upcoming LIVE Christmas Extravaganza at London's Prince Edward Theatre. Tickets here: fane.co.uk/kermode-mayo        Timecodes (for Vanguardistas listening ad-free)  Black Phone 2 Review: 09:04  Box Office Top Ten: 15:35  Russell Tovey Interview: 28:23  After The Hunt Review: 43:56  Laughter Lift: 52:30  Roofman Review: 59:31  Frankenstein Review: 01:08:14      You can contact the show by emailing correspondence@kermodeandmayo.com or you can find us on social media, @KermodeandMayo  Please take our survey and help shape the future of our show: https://www.kermodeandmayo.com/survey   EXCLUSIVE NordVPN Deal ➼ https://nordvpn.com/take Try it risk-free now with a 30-day money-back guarantee!  A Sony Music Entertainment production.      Find more great podcasts from Sony Music Entertainment at sonymusic.com/podcasts and follow us @sonypodcasts    To advertise on this show contact: podcastadsales@sonymusic.com  Learn more about your ad choices. Visit podcastchoices.com/adchoices

“Improved appellate advocacy betters us all,” says Chris Edwards. “It betters the court system. It betters our outcomes.” The co-chair of Ward and Smith's Appellate Practice, Chris discusses how trial lawyers can improve their appellate advocacy in this conversation with host Amber Nimocks. He also highlights his new column for “Trial Briefs,” NCAJ's flagship publication, where he shares his “superpowers” with NCAJ members. And he previews his Nov. 12 virtual CLE, “Winning on Appeal Starts at Trial,” where he'll cover issue preservation, record building, and best practices.

Don and Tom open with banter about the weather, baseball playoffs, and studio quirks before diving into what it means to be a “millionaire” today versus in 1890. They explore how much of modern net worth is illiquid, why home equity and retirement funds can trap wealth, and how planning for liquidity and income is crucial. The conversation transitions into a discussion of market volatility, rare earth trade tensions with China, and Brett Arends' critique of index investing. They counter with historical perspective, humor (and potato chips), and advice about risk, rebalancing, and human behavior. Later, listener calls cover portfolio structure, Empower vs. Vanguard advisor options, and evaluating advisor fees and fund costs. The show closes with their classic blend of education, sarcasm, and fiduciary realism. 0:04 Opening banter, phone number, Florida “cold front,” and baseball chatter 2:33 Topic intro: What a million dollars means now vs. 1890 3:58 Comparing historic vs. modern millionaires and net worth equivalency 4:43 The illusion of wealth—why 70% of assets are often inaccessible 5:30 Planning for liquidity: why paying off a mortgage too early can backfire 6:37 Don's retirement planning promo 7:39 Historical comparison: 1890s Gilded Age vs. today's millionaire stats 8:19 Market globalization and modern wealth concentration 9:43 Rare earths and the U.S.–China tariff skirmish 10:22 Market check: stocks, bonds, and gold all dip; volatility talk 12:04 Don's “unnamed thing” (Bitcoin) drops 10.5%; discussion on risk and rebalancing 13:48 Don shifts to 60/40 allocation—explains rationale near retirement 14:34 Brett Arends' “Dumbest Stock Market in History” critique discussed 16:00 Debate: Are index investors stabilizing markets through consistency? 17:19 Potato chip tangent and investor psychology 18:32 Arends' bearishness vs. evidence-based investing 20:00 Protecting your psyche, not every dollar, from market declines 20:20 Podcasting history—when Talking Real Money began 21:32 Caller Samir (Virginia): $4M net worth, suffering from “hodgepodge-itis” 24:15 Don and Tom's prescription: stop investing until you have a plan 25:42 Margin loan temptation and why 10.5% interest kills the idea 27:00 Tom reinforces the need for a fiduciary planner 27:32 Caller Chris (Texas): moving from Empower to Vanguard PAS 29:21 Vanguard vs. Empower: conflicts, fund choices, and planning gaps 31:46 “Half-pregnant” advice models and Bogle's legacy examined 34:20 Broader critique: single-provider risk and investor behavior 35:54 Caller Dave (Olympia): evaluating returns, fees, and portfolio costs 37:50 What's a reasonable expense ratio and advisor fee range 39:24 Final takeaway: judge portfolios by structure, not short-term returns Learn more about your ad choices. Visit megaphone.fm/adchoices

In At the Vanguard of Vinyl, Darren Mueller examines how the advent of the long-playing record (LP) in 1948 revolutionized the recording and production of jazz in the 1950s. The LP's increased fidelity and playback capacity allowed lengthy compositions and extended improvisations to fit onto a single record, ushering in a period of artistic exploration. Despite these innovations, LP production became another site of negotiating the uneven power relations of a heavily segregated music industry. Exploring how musicians, producers, and other industry professionals navigated these dynamics, Mueller contends that the practice of making LPs significantly changed how jazz was created, heard, and understood in the 1950s and beyond. By attending to the details of audio production, he reveals how Black musicians such as Louis Armstrong, Miles Davis, Duke Ellington, and Charles Mingus worked to redefine prevailing notions of race and cultural difference within the United States. Mueller demonstrates that the LP emerges as a medium of sound and culture that maps onto the more expansive sonic terrain of Black modernity in the 1950s. Nathan Smith is a PhD candidate in Music Theory at Yale University nathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/american-studies

In this episode of The Distribution, host Brandon Sedloff sits down with Katie Riester, Managing Director at Felicis Ventures, for a wide-ranging conversation about the evolution of venture capital and the lessons she's learned across her career on both the LP and GP sides. Katie reflects on her path from early experiences at Vanguard and Cambridge Associates to her current role helping shape one of the industry's most adaptable early-stage firms. She shares insights on how Felicis identifies opportunities across emerging tech waves, what makes a successful founder, and why listening and authenticity remain critical in the world of investing. They discuss: • Katie's journey from institutional investor to leading capital formation at Felicis Ventures • The changing dynamics between LPs, GPs, and founders in venture capital • How Felicis adapts to new technology cycles while maintaining its core principles • What it means to be an “AI native” founder and why it matters in today's landscape • The importance of communication, curiosity, and relationship-building in fundraising Links: Felicis Ventures - https://www.felicis.com/ Katie on LinkedIn - https://www.linkedin.com/in/katie-riester-91793b8/ Brandon on LinkedIn - ⁠https://www.linkedin.com/in/bsedloff/⁠ Juniper Square - ⁠https://www.junipersquare.com/⁠ Topics: (00:00:00) - Intro (00:02:45) - Katie's early life and career beginnings (00:20:43) - The evolution of venture capital (00:30:15) - Adapting to tech waves (00:34:33) - Importance of diversification (00:40:04) - Felicis Ventures (00:47:32) - Traits of successful founders (00:52:10) - Current and future tech waves (00:59:17) - Conclusion and contact information

In this episode, I'm joined by the always insightful and globally-minded Dr. Vas Srinivasan, who recently built one of the most stunning orthodontic spaces in Southeast Queensland—right when the world said “don't.” From battling banks post-COVID to doubling down on patient experience, Vas shares the inspiring story of why he took the leap, what he learned, and how he's now positioned to dominate his local market—even against corporate competitors.We talk about fear, growth, AI-powered offices, why silent front desks are the future, and how to turn brushing stations into monitoring hubs. We also get into real estate side hustles, building partnerships outside of dentistry, and the importance of having income streams that work while you sleep. This is a must-listen for any orthodontist who's wondering if now is the time to play biggerQUOTES“If someone says they weren't scared building a practice like this—they're lying. I had to re-mortgage my house. But this dream had to come together.”— Dr. Vas Srinivasan“Side hustles are great. But please—don't do a restaurant. Don't do a nightclub. Find something that works even when you're asleep.”— Dr. Vas SrinivasanKey TakeawaysIntro (00:00)Vegemite vs. Tim Tams and Aussie hospitality (01:26)Vas's global journey: India → Minnesota → Sydney → Sunshine Coast (04:19)Why he rebuilt his practice at 48—and made it huge (08:27)Fear, funding struggles, and re-mortgaging his house (09:50)Building for the wow: concierge front desks & AI systems (14:06)Turning brushing stations into Grin monitoring hubs (15:45)A shift away from aligners—and why patients are saying no (17:09)Don't confuse patients: how to present treatment options better (19:27)Real estate side hustle with his ex-TC as a partner (21:35)The “low-cost braces clinic” model that fuels his main practice (23:15)Why now is the time to invest in yourself and your future (25:47)The Vanguard announcement + what's next (26:59)Additional ResourcesIf you've been waiting for the “perfect time” to level up your space, your systems, or your side hustle—this episode is your permission slip. Fear and growth go hand in hand, but so does freedom when you build it intentionally.

Vanguard Research put out a paper called "The Emotional and Time Value of Advice” (June 2025).  It claims that there are "emotional benefits and time-saving value that paid professional financial advice provides to clients."  In other words: The benefit isn't the portfolio or financial advice, but the emotional and time-saving value getting paid professional advice can provide.  Then for our listener question: Gary wants to know how his Health Savings Account (HSA) interacts with Medicare. Can you pay Medicare premiums from an HSA at a later date like you can with qualified medical expenses paid out of pocket? Great question! Resource: Vanguard Study: "The Emotional and Time Value of Advice" paper   Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Work with Benjamin: https://retirementstartstoday.com/start Follow Retirement Starts Today in:Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart  Get the book!Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement  

Mark Yusko, Founder and CEO of Morgan Creek Capital Management interview - we discuss the latest with Bitcoin and the Crypto market.Topics:- Bitcoin hitting a new all time high and expectations for Q4- Is it possible the Bitcoin top is in already? - US Strategic Bitcoin Reserve- Digital Asset Treasury companies - Bitcoin vs Altcoins as treasury asset. Is there a bubble forming for DATs? - Banks and TradFi capitulating to Crypto - Liquidity driving Assets higher and the Everything BubbleBrought to you by

AWS Morning Brief for the week of October 13th, 2025, with Corey Quinn. Links:Introducing AWS Pricing Capabilities in Amazon Q Developer: Ask Questions, Get Instant Cost InsightsAmazon Location Service Updates for Vietnam's New Administrative BoundariesPart 6: Effective sunset of the legacy data platform in BBVA: the migration methodology Amazon Q Developer and Kiro – Prompt Injection Issues in Kiro and Q IDE plugins Amazon DynamoDB now supports Internet Protocol version 6 (IPv6)AWS ranks #1 in Forecasting and Estimation Use Case in Gartner Critical Capabilities for Cloud Financial Management Tools report Introducing Amazon Quick Suite: your agentic AI-powered workspaceUnlock real-time advertising insights with Amazon Marketing Stream and AWSIMDS impersonationReduce Docker image build time on AWS CodeBuild using Amazon ECR as a remote cacheUnderstanding Amazon Chime SDK costs in AWS Cost ExplorerAWS Introduces self-service invoice correction featureBridging data silos: cross-bounded context querying with Vanguard's Operational Read-only Data Store (ORDS) using Amazon Redshift Beyond Bootstrap: Bootstrapless CDK Deployments at GoDaddyAmazon EKS and Amazon EKS Distro now supports Kubernetes version 1.34Amazon SageMaker notebook instance now supports Amazon Linux 2023Your Ultimate Guide to Cloud Financial Management sessions at re:Invent 2025: Know Before You Go Automatic quota management is now generally available for AWS Service Quotas CVE-2025-11462 AWS ClientVPN macOS Client Local Privilege EscalationCVE-2025-11573 - Denial of Service issue in Amazon.IonDotnet

In At the Vanguard of Vinyl, Darren Mueller examines how the advent of the long-playing record (LP) in 1948 revolutionized the recording and production of jazz in the 1950s. The LP's increased fidelity and playback capacity allowed lengthy compositions and extended improvisations to fit onto a single record, ushering in a period of artistic exploration. Despite these innovations, LP production became another site of negotiating the uneven power relations of a heavily segregated music industry. Exploring how musicians, producers, and other industry professionals navigated these dynamics, Mueller contends that the practice of making LPs significantly changed how jazz was created, heard, and understood in the 1950s and beyond. By attending to the details of audio production, he reveals how Black musicians such as Louis Armstrong, Miles Davis, Duke Ellington, and Charles Mingus worked to redefine prevailing notions of race and cultural difference within the United States. Mueller demonstrates that the LP emerges as a medium of sound and culture that maps onto the more expansive sonic terrain of Black modernity in the 1950s. Nathan Smith is a PhD candidate in Music Theory at Yale University nathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

In At the Vanguard of Vinyl, Darren Mueller examines how the advent of the long-playing record (LP) in 1948 revolutionized the recording and production of jazz in the 1950s. The LP's increased fidelity and playback capacity allowed lengthy compositions and extended improvisations to fit onto a single record, ushering in a period of artistic exploration. Despite these innovations, LP production became another site of negotiating the uneven power relations of a heavily segregated music industry. Exploring how musicians, producers, and other industry professionals navigated these dynamics, Mueller contends that the practice of making LPs significantly changed how jazz was created, heard, and understood in the 1950s and beyond. By attending to the details of audio production, he reveals how Black musicians such as Louis Armstrong, Miles Davis, Duke Ellington, and Charles Mingus worked to redefine prevailing notions of race and cultural difference within the United States. Mueller demonstrates that the LP emerges as a medium of sound and culture that maps onto the more expansive sonic terrain of Black modernity in the 1950s. Nathan Smith is a PhD candidate in Music Theory at Yale University nathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/african-american-studies

In At the Vanguard of Vinyl, Darren Mueller examines how the advent of the long-playing record (LP) in 1948 revolutionized the recording and production of jazz in the 1950s. The LP's increased fidelity and playback capacity allowed lengthy compositions and extended improvisations to fit onto a single record, ushering in a period of artistic exploration. Despite these innovations, LP production became another site of negotiating the uneven power relations of a heavily segregated music industry. Exploring how musicians, producers, and other industry professionals navigated these dynamics, Mueller contends that the practice of making LPs significantly changed how jazz was created, heard, and understood in the 1950s and beyond. By attending to the details of audio production, he reveals how Black musicians such as Louis Armstrong, Miles Davis, Duke Ellington, and Charles Mingus worked to redefine prevailing notions of race and cultural difference within the United States. Mueller demonstrates that the LP emerges as a medium of sound and culture that maps onto the more expansive sonic terrain of Black modernity in the 1950s. Nathan Smith is a PhD candidate in Music Theory at Yale University nathan.smith@yale.edu Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

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

Rob Spivey, director of research at Valens Securities, says many investors believe the current stock market run to record levels has been about price momentum, but he says that earnings momentum has shown growth that is strong enough that it should calm the nerves of investors who think the artificial intelligence business is inflating a market bubble. Valens' research revolves around "uniform accounting," and Spivey discusses proposals that would change how often public companies must report earnings, and talks about why he believes it would not have as much impact on the market as many observers expect. Todd Rosenbluth, head of research at VettaFi makes the newest fund created by Vanguard — an emerging markets fund that excludes China — his pick for "ETF of the Week," noting that the ETF is a solid passive adjunct to actively managed emerging-markets strategies. Excluding China, Rosenbluth noted, is a strategic choice that may depend on an investor's gut feeling over the potential for a trade war or bigger tariff problems in the future. Financial adviser Dan Dorval of Dorval & Chorne discusses 'Financial Success for the Rest of Us: Quality of Life Planning for Mainstream America," the book he wrote 20-plus years ago and just revised. He discusses how planning has changed but how developing investor discipline has remained one of the key factors of whether a person will achieve financial prosperity.

On episode 433 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss the melt-up phase of the AI boom, there is a bubble in bubble predictions, no one is going to call the top, hyperscalers vs. the labor market, international stocks are outperforming, Taylor Swift, junk stocks, the top 1% vs. the bottom 90% and more. This episode is sponsored by Betterment Advisor Solutions and Vanguard. Grow your RIA, your way by visiting: https://Betterment.com/advisors Learn more about Vanguard at: https://www.vanguard.com/audio Sign up for The Compound newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Find complete show notes on our blogs: Ben Carlson's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠A Wealth of Common Sense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Michael Batnick's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Irrelevant Investor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Feel free to shoot us an email at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠animalspirits@thecompoundnews.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation.   Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom kick off this episode with a satirical bang—mocking the apocalyptic tone of a MarketWatch article about the “Fourth Turning,” a cyclical doom prophecy claiming America faces a cataclysmic reset every 80–100 years. Citing wars, depressions, and now AI, wealth taxes, and the fall of the dollar, the hosts break down the fatalistic tone, expose the fear-marketing behind it, and reassure listeners that, historically, markets have recovered—and rewarded long-term investors. 0:04 Faux alien warning: the Fourth Turning economic apocalypse is coming 1:16 Dissecting the MarketWatch article and the “Fourth Turning” theory 2:26 Peak catastrophe by 2030? AI job loss, collapsing dollar, wealth taxes 3:38 Don asks: what is this guy selling? Spoiler: $100M wealth club 6:01 $180k to join R360—clearly not for the average listener 6:33 Don's “financial flinch reflex” PSA spoof (ad) 7:41 Tom: “We love being scared”—AI panic and deepfake video fears 9:07 Caller Sue (68): Ready to retire with $820k and SS? Don says yes 13:05 Sue's next step: get a fiduciary checkup, maybe run Monte Carlo 14:10 Tom runs one: 50th percentile = she hits zero at 98 15:32 Flexible withdrawal rates might work better than rigid 4% 16:34 Listener voicemail: Should we switch from Roth to Traditional now? 18:16 DT's Roth vs. traditional strategy: save taxes while you can 20:14 WSJ article on taxes and stock gains—do ETFs instead 21:25 Tax basics for investors: capital gains rates and efficiency 23:26 Mad Men nostalgia and mid-century tax rates 25:15 TV detour: Bewitched vs. I Dream of Jeannie vs. Outlander 27:10 Back to calls: Theodore asks about 403(b) options in Burlington 29:10 Don explodes: garbage annuity vendors dominate the plan 31:01 Aspire is the only halfway-decent vendor… if you avoid their advisors 33:54 Don tells how an Albuquerque teacher got Vanguard into their plan 35:44 Aspire hack: use FundSource for no-load mutual funds 36:14 Caller Steve: hold 20 stocks or sell and rebalance? 37:53 Tom: hybrid approach. Don: depends on need. Watch tax bracket Learn more about your ad choices. Visit megaphone.fm/adchoices

The show kicks off with a sardonic take on turf wars between delivery drivers—yes, really—before diving into third-quarter market returns, investor behavior, and asset class performance. Don and Tom remind listeners (again) that sticking with a diversified portfolio beats timing markets or following headline noise. Listeners call in about Social Security strategies, inheritance accounts for minors, and what to do with large sums of cash in retirement. The show wraps with a smart look at ETF-to-mutual fund conversions and why the old-school fund industry is getting left in the dust. 0:11 Delivery turf wars joke and quarter-end reflections 1:40 Fears vs. reality: inflation, jobs, and trade wars 2:16 Q3 returns: U.S. stocks +8%, EM +9.6%, silver tops, cocoa flops 3:09 What you had to do to earn those returns: be invested, diversified, and ignore noise 5:13 Don scolds investors still avoiding value and international stocks 6:11 Chocolate aside, it's been a strong year for stocks and bonds 7:42 Promo: Why guessing isn't a retirement plan 7:51 Don recovers from a cough; Tom lists worst Q3 performers (lean hogs!) 9:13 Listener Chad argues for claiming Social Security early if you can earn 3% 11:08 Don crunches the math: break-even at age 81–82 if invested at 3% 12:57 Survivor benefits and why waiting helps your spouse 13:57 Don jokes about his wife stealing his life force and living to 112 14:54 Vaccine banter and intro to next caller 15:56 Caller Michael from Burien sells a condo, asks where to put $300k 19:07 Don and Tom suggest municipal bonds like VTEB for tax-free yield 20:20 Michael quotes a great retirement planning aphorism 20:29 Shift to ETF inflows and the downfall of mutual funds 29:13 Vanguard's tax-free conversion model and Dimensional's exemptive relief 30:49 What this shift means for investors with taxable accounts 31:17 Mutual funds may soon be the next buggy whips 32:22 Listener Connie asks: do you really get back Social Security withheld when working before FRA? 33:14 Tom and Don clarify: benefit adjusted later, but no “refund” 34:37 Caller Susan from Connecticut: what to do with $250k in cash 36:52 Don: You don't need more products—you need a real financial plan 39:17 Flat-fee plans and how to find a true fiduciary Learn more about your ad choices. Visit megaphone.fm/adchoices

Hosts Jim DeRogatis and Greg Kot speak with David Browne, author of the book Talkin' Greenwich Village: The Heady Rise and Slow Fall of America's Bohemian Music Capital.Join our Facebook Group: https://bit.ly/3sivr9TBecome a member on Patreon: https://bit.ly/3slWZvcSign up for our newsletter: https://bit.ly/3eEvRnGMake a donation via PayPal: https://bit.ly/3dmt9lUSend us a Voice Memo: Desktop: bit.ly/2RyD5Ah Mobile: sayhi.chat/soundops Featured Songs:Phil Ochs, "Here's to the State of Mississippi," I Ain't Marching Anymore, Elektra, 1965The Beatles, "With A Little Help From My Friends," Sgt. Pepper's Lonely Hearts Club Band, Parlophone, 1967Sonny Rollins, "Softly As In A Morning Sunrise (Live At The Village Vanguard, 1957 / Evening Take)," The Complete Night At The Village Vanguard, Blue Note, 2013Miles Davis, "Stablemates," Miles: The New Miles Davis Quintet, Prestige, 1956Joan Baez, "Wildwood Flower," Joan Baez, Vanguard, 1960John Coltrane, "Greensleeves," Evenings at the Village Gate: John Coltrane with Eric Dolphy, Impulse!, 2023Paul Butterfield, "Everything Gonna Be Alright," Live New York 1970, RockBeat, 2015Phil Ochs, "Talking Vietnam Blues," All the News That's Fit to Sing, Elektra, 1964Dave Van Ronk, "He Was a Friend of Mine," Folksinger, Prestige, 1962Dave Van Ronk, "Dink's Song," Dave Van Ronk Sings, Folkways, 1961Bob Dylan, "House of the Risin' Sun," Bob Dylan, Columbia, 1962Dave Van Ronk, "House of the Rising Sun," Just Dave Van Ronk, Mercury, 1964The Blues Project, "Catch the Wind," Live at the Cafe Au Go Go, Verve Folkways, 1966Bob Dylan, "It Ain't Me Babe," Another Side of Bob Dylan, Columbia, 1964Bob Dylan, "Hurricane (Live at Memorial Auditorium, Worcester, MA, November 1975)," The Rolling Thunder Revue: The 1975 Live Recordings, Columbia, 2019Len Chandler, "Bellevue," To Be a Man, Columbia, 1966Peter, Paul and Mary, "Where Have All the Flowers Gone," Peter, Paul and Mary, Warner Bros., 1962Sonny Rollins, "I Can't Get Started (Live At The Village Vanguard, 1957 / Evening Take)," The Complete Night At The Village Vanguard, Blue Note, 2013The Roches, "Speak," Speak, MCA, 1989Buffy Sainte-Marie, "It's My Way," It's My Way!, Vanguard, 1964Odetta, "I Never Will Marry," Odetta Sings Folk Songs, RCA Victor, 1963Drive-By Truckers, "Ronnie and Neil," Southern Rock Opera, Soul Dump, 2001See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this week's Weekly Rollup, Uptober kicks off with Bitcoin and Ethereum surging toward all-time highs as Tom Lee drops another $1B into ETH and Vanguard finally opens its doors to crypto ETFs. We cover Stripe's push to break the Tether–Circle duopoly with its new stablecoin platform, Cloudflare's surprising entry into onchain payments, and Swift teaming up with Consensys on blockchain rails. Plus, Zcash rockets 200%, Ethereum's Lighter perps exchange goes live, and Circle sparks debate with plans for reversible USDC. ---