Episódios

  • There Is No Perfect Portfolio. Just Good Enough

    There Is No Perfect Portfolio. Just Good Enough
    Apr 15 2026

    Why portfolio construction is messy, personal, and never perfect. We compare the pros and cons of several portfolio strategies, including target-date funds, risk parity, and role-based portfolios. We conclude with three AI-related fallacies that will help us better navigate the current moment.

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    Live Portfolio Cohort - May 2026

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    Show Notes

    Money for the Rest of Us Live Portfolio Cohorts

    Why Everything Suddenly Is ‘Perfect’ by Paula Marantz Cohen—The Wall Street Journal

    Your Perfect Portfolio by Cullen Roche—Pan MacMillan

    My Core Investment Values by Peter Lazaroff—Peter Lazaroff

    Show Us Your Portfolio: Jared Dillian—Excess Returns: An Investing Podcast

    The dystopian fantasy of uselessness by Stephen Cane—The Financial Times

    Related Episodes

    491: The Five Layers of Investing

    306: Three Approaches to Asset Allocation

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    27 minutos
  • A MFTROU Update, Cognitive Offloading Versus Cognitive Surrender, and Live Portfolio Cohorts

    A MFTROU Update, Cognitive Offloading Versus Cognitive Surrender, and Live Portfolio Cohorts
    Apr 1 2026

    In this mini episode, I share some examples of how I am using Claude Cowork and other tools to boost my productivity and build investment portfolio analysis tools. I also share more details on the live portfolio cohorts we will be holding next month.

    You can learn more about our live portfolio cohorts here.

    Show Notes

    I Saw Something New in San Francisco - Ezra Klein - New York Times


    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    7 minutos
  • Is Another Great Financial Crisis Coming? 5 Ways to Prepare

    Is Another Great Financial Crisis Coming? 5 Ways to Prepare
    Mar 25 2026

    How the Iran conflict and other developments could lead to another major financial crisis. What is different today from 2008? Why trying to seed a revolution is so risky. And finally, what can we do to prepare ourselves for the next financial crisis?

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    Show Notes

    Read Trump's full statement on Iran attacks—PBS News

    I Predicted the 2008 Financial Crisis. What Is Coming May Be Worse. By Richard Bookstaber—The New York Times

    The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction By Richard Bookstaber

    The Poverty of Historicism By Karl Popper

    Iran Is Trying to Defeat America in the Living Room By Karim Sadjadpour—The Atlantic

    Iran war is the greatest threat to global energy ‘in history’, warns IEA By Malcom Moore—Financial Times

    ‘Once and for All’ Means Never By Thomas L. Friedman—The New York Times

    AI Isn’t Coming for Everyone’s Job By Adam Ozimek—The Atlantic

    Related Episodes

    291: How To Survive the Coronavirus (COVID-19) Shutdown

    377: What If It’s Different This Time?

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    27 minutos
  • AI Is Changing Me - and the Case for Good Enough

    AI Is Changing Me - and the Case for Good Enough
    Mar 11 2026
    When is good enough actually good enough? AI is reshaping how I work and live. And a member with a portfolio that's beaten an all-in-one Vanguard LifeStrategy fund for ten years asks whether the complexity is worth it — or whether it's time to simplify.SponsorsMasterworks - Invest in multimillion-dollar artwork offeringsDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Upswing: How We Came Together a Century Ago and How We Can Do It Again by Robert Putnam—Simon &SchusterAn update on our model deprecation commitments for Claude Opus 3—AnthropicClaude's Corner—SubstackInvestments MentionedVanguard LifeStrategy Growth Fund Investor (VASGX)Related Episodes542: Don’t Take Financial Advice from AI491: The Five Layers of Investing419: How to Make Portfolio and Asset Allocation ChangesMasterworks DisclosuresListeners get priority access to Masterworks at https://www.Masterworks.com/davidArt correlation and appreciation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2025, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. Content creator (the “Endorser”) receives cash compensation from Masterworks, LLC (“Masterworks”). Endorser is a client of Masterworks. Masterworks can only make and accept sales after an offering statement has been filed, and “qualified”, by the SEC. Any offers may be revoked before notice of qualification. Indications of interest involve no obligation. Investing involves risk. Past performance not indicative of future returns. For further disclosure on Regulation A Offerings, Risks of Investing, Performance Metrics, Art Market Data, and more visit the offering documents filed with the SEC and Important Disclosures at masterworks.com/cd.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    26 minutos
  • What Average Really Looks Like — and Can Managed Futures Help?

    What Average Really Looks Like — and Can Managed Futures Help?
    Feb 25 2026

    How historical and expected returns for university endowments can guide us in setting reasonable return expectations. We also analyze managed futures strategies to see how they work, how they have performed, and how to use them in your investment portfolio.

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    Show Notes

    2025 NACUBO-Commonfund Study of Endowments (NCSE) Results—NACUBO

    Princeton University cuts expectation for endowment returns by Sun Yu—The Financial Times

    Demystifying Managed Futures by Brian K. Hurst, Yao Hua Ooi, and Lasse H. Pedersen—AQR

    Investments Mentioned

    AQR Managed Futures Strategy Fund I (AQMIX)

    iMGP DBi Managed Futures Strategy ETF (DBMF)

    KraneShares Mount Lucas Managed Futures Index Strategy ETF (KMLM)

    WisdomTree Managed Futures Strategy Fund (WTMF)

    First Trust Managed Futures Strategy Fund (FMF)

    Return Stacked US Stocks & Managed Futures ETF (RSST)

    Related Episodes

    524: Facing a Financial Squeeze: What Harvard’s Response Can Teach the Rest of Us

    204: Why Are Investment Returns So Low?

    180: Can You Outperform Harvard’s Endowment?

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    28 minutos
  • Asset Location: Where You Invest, Where You Live, What You Can Access

    Asset Location: Where You Invest, Where You Live, What You Can Access
    Feb 11 2026
    In this episode, we look at asset location, how to decide which investments belong in taxable, tax-deferred, and tax-free accounts, how where we live shapes the opportunities available to us, and how capital ultimately expands our choices.SponsorsGelt - Taxes Done RightMasterworks - Invest in multimillion-dollar artwork offeringsDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesThe Hidden Healthcare Infrastructure Americans Cross the Border to Find—Kogod School of BusinessFARMWORKER SERVICE CENTER PROPOSAL AND ACTION PLAN FOR THE CITY OF CALEXICO AND IMPERIAL VALLEY by JAVIER MORENO—CalexicoLocation as an Asset by Adrien Bilal and Esteban Rossi-Hansberg—PrincetonIt Is Not Climate Denial But Adaptation Denial That Holds Us Back by Mathis Wackernagel and Peter Raven—SSRNThe Overlooked Edge: The Case for Asset Location in Managed Portfolios—MorningstarRevisiting the conventional wisdom regarding asset location by Sachin Padmawar and Daniel Jacobs—VanguardAsset location for equity by Sachin Padmawar and Daniel Jacobs—VanguardThis powerful strategy can create more spendable wealth by Tom Lenkiewicz—J.P. MorganAsset location strategies for tax efficient investing—BlackRockWhat would Yale do? Implementing after-tax asset allocation by Frances Walsh and Patrick Geddes—BlackRockRelated Episodes540: Beyond Munis — New ETFs for Tax-Efficient Bond Investing506: Should You Retire Early and Live Outside Your Home Country? With Joshua Sheats425: How Profits Motivate ChangeMasterworks DisclosuresListeners get priority access to Masterworks at https://www.Masterworks.com/davidArt correlation and appreciation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2025, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. Content creator (the “Endorser”) receives cash compensation from Masterworks, LLC (“Masterworks”). Endorser is a client of Masterworks. Masterworks can only make and accept sales after an offering statement has been filed, and “qualified”, by the SEC. Any offers may be revoked before notice of qualification. Indications of interest involve no obligation. Investing involves risk. Past performance not indicative of future returns. For further disclosure on Regulation A Offerings, Risks of Investing, Performance Metrics, Art Market Data, and more visit the offering documents filed with the SEC and Important Disclosures at masterworks.com/cd.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    24 minutos
  • Why Catastrophe Bonds Yield 12%. Should You Invest?

    Why Catastrophe Bonds Yield 12%. Should You Invest?
    Jan 28 2026
    A new ETF allows individuals to earn income by insuring against natural disasters through investing in catastrophe bonds. We break down the historical returns, risk, fees, and structure of this intriguing investment opportunity.Topics covered include:What types of natural disasters are increasingHow insurance companies use reinsurance and cat bonds to protect against extreme lossesWhy home insurance premium increases should be lower in 2026How cat bonds are structured and what makes them a unique fixed income securityWhat to consider in deciding to invest in cat bonds.SponsorsGelt - Taxes Done RightDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusInvestments MentionedBrookmont Catastrophic Bond ETF (ILS)Stone Ridge High Yield Reinsurance Risk Premium Fund (SHRIX and SHRMX)Show NotesMiami Is Entering a State of Unreality by Mario Alejandro Ariza—The AtlanticHistorical Hurricane Tracks—NOAALA fires dominated insured losses of $127bn in 2025, says Aon by Eva Xiao and Lee Harris—The Financial Times2026 Climate and Catastrophe Insight—AONBERKSHIRE HATHAWAY INC. 2002 ANNUAL REPORT—Berkshire HathawayWhen, Where and How Often Insurers Fail—PACICCClimate change presses on: Devastating wildfires and intense thunderstorms exacerbate losses for insurers—Munich REReinsurance buyers experience market softening as reinsurers grow capital following strong returns—Guy CarpenterCatastrophe bond sales hit record as insurers offload climate risks by Lee Harris and Ian Smith—The Financial TimesSwiss Re Global Cat Bond Performance Index returns 11.40% for 2025—ArtemisCatastrophe Bonds by Alexander Braun and Carolyn Kousky—WhartonSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    24 minutos
  • What Will Drive Financial Markets in 2026—and How to Make It Your Best Year

    What Will Drive Financial Markets in 2026—and How to Make It Your Best Year
    Jan 14 2026
    We explore the forces likely to shape financial markets in 2026 and how to make better decisions as you pursue your goals this year.Topics covered include:The difference between intentions and resolutionsKey behavioral biases and how to overcome themThe cautionary tale of a private real estate fund that went publicIs the affordability crisis real?The big test for AI in 2026The financial and economic outlook for the yearSponsorsGelt - Taxes Done RightMasterworks - Invest in multimillion-dollar artwork offeringsDelete Me – Use code David20 to get 20% offInsiders Guide Email NewsletterGet our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletterOur Premium ProductsAsset CampMoney for the Rest of Us PlusShow NotesA Slightly Better You in the New Year by Roland Fryer—The Wall Street JournalPaying Not to Go to the Gym by Stefano DellaVigna and Ulrike Malmendier—American Economic AssociationHandbook of Cognitive Biases—Federal Intelligence Service FISEmployed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over—Federal Reserve Bank of St. LouisAmerica’s affordability crisis is (mostly) a mirage—The EconomistWhen Your Private Fund Turns $1 Into 60 Cents by Jason Zweig—The Wall Street JournalCanadians Are Furious After Real Estate Funds Lock Up Their Money by Paula Sambo—BloombergBlue Rock TI+ Annual Report—Securities and Exchange CommissionWhich jobs have grown (and declined) fastest during your working life? by Andrew Van Dam—The Washington PostIs AI More Like a Mind or a Market? by Walter Frick—BloombergDon’t Fear the Bubble Bursting by Carl Benedikt Frey—The New York TimesRelated Episodes484: 7 Steps to Living a Longer Life414: Use Caution with Private REITs like Blackstone’s BREITMasterworks DisclosuresListeners get priority access to Masterworks at https://www.Masterworks.com/davidArt correlation and appreciation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2025, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. Content creator (the “Endorser”) receives cash compensation from Masterworks, LLC (“Masterworks”). Endorser is a client of Masterworks. Masterworks can only make and accept sales after an offering statement has been filed, and “qualified”, by the SEC. Any offers may be revoked before notice of qualification. Indications of interest involve no obligation. Investing involves risk. Past performance not indicative of future returns. For further disclosure on Regulation A Offerings, Risks of Investing, Performance Metrics, Art Market Data, and more visit the offering documents filed with the SEC and Important Disclosures at masterworks.com/cd.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    33 minutos