Episódios

  • Episode 358 – Dr. Eli Beracha: Renting versus Buying a Home

    Episode 358 – Dr. Eli Beracha: Renting versus Buying a Home
    May 22 2025
    Dr. Eli Beracha has recently been recognized by The Journal of Real Estate Literature as the world’s third best in research productivity, and today, we are honoured to be joined by this top industry expert to bring more clarity to the renting versus buying debate. We use Dr. Beracha’s ‘Lessons from Over 30 Years of Buy Versus Rent Decisions: Is the American Dream Always Wise?’ and ‘Housing Ownership Decision-Making in the Framework of Household Portfolio Choice’ papers as the basis for most of today’s conversation, beginning with why owning a home is deeply rooted in the perception of the American dream. Then, we discover how to measure the true price of home ownership, how the American dream and other psychological factors influence one’s decision-making, how hard assets perform compared to stocks and bonds, and why renting comes out ahead of buying nine times out of ten. We also learn why owning is for the inherently wealthy, the ins and outs of Dr. Beracha’s rent versus buy index, the rate of property appreciation versus stock appreciation, and how renting influences saving habits compared to owning a home. To end, we dive deeper into the risk-adjusted wealth accumulation of home ownership versus renting, and Dr. Beracha compares the efficiency of the real estate market to the stock market while detailing everything to take into account to be fully-equipped to make your decision to rent or buy. Key Points From This Episode: (0:00:00) Why Dr. Eli Beracha is one of the world’s best to discuss renting vs buying a home. (0:05:32) Understanding why owning a home is deeply entrenched in the American dream. (0:06:10) The various aspects to consider when measuring the price of home ownership. (0:07:57) Weather Dr. Beracha agrees with the adage “renting is throwing money away.” (0:09:36) What the price of a home should represent, and how psychology influences decisions. (0:16:48) Unpacking Dr. Beracha’s 2012 paper subtitled, ‘Is the American Dream Always Wise?’ (0:19:51) Hard assets versus stocks and bonds, and why renting pips buying most of the time. (0:26:00) Why many still choose to own a home despite long-term financial discrepancies. (0:30:53) The ins and outs of Dr. Beracha’s rent versus buy index. (0:39:46) Why homeowners are usually wealthier than renters even though renting is “cheaper.” (0:42:03) Property appreciation, stock appreciation, and the renter’s savings rate. (0:47:41) How home ownership influences saving habits compared to renting. (0:49:46) The risk-adjusted wealth accumulation of home ownership versus renting. (0:58:40) Dr. Beracha compares the efficiency of the real estate market to the stock market. (1:03:22) Everything you need to take into account to make your decision to rent or buy. Links From Today’s Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Episode 325: Addressing 200+ Comments on Renting vs. Owning a Home — https://rationalreminder.ca/podcast/325 Episode 196: Sebastien Betermier: Hedging, Sentiment, and the Cross-Section of Equity Premia — https://rationalreminder.ca/podcast/196 Dr. Eli Beracha — https://www.theberachateam.com/ Dr. Eli Beracha on LinkedIn — https://www.linkedin.com/in/eli-beracha-b8082250/ Dr. Eli Beracha on Instagram — https://www.instagram.com/dreliberacha/ Tibor and Sheila Hollo School of Real Estate | FIU — https://business.fiu.edu/academics/departments/real-estate/ KBIS Capital — https://kbiscapital.com/ Journal of Real Estate Literature — https://www.tandfonline.com/journals/rjel20 Papers From Today’s Episode: ‘Lessons from Over 30 Years of Buy Versus Rent Decisions: Is the American Dream Always Wise?’ — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1814227 ‘Housing Ownership Decision-Making in the Framework of Household Portfolio Choice’ — https://www.tandfonline.com/doi/abs/10.1080/10835547.2017.12091472 ‘Findings from a Cross-Sectional Housing Risk-Factor Model’ — https://www.researchgate.net/publication/236023682_Findings_from_a_Cross-Sectional_Housing_Risk-Factor_Model
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    1 hora e 7 minutos
  • Episode 357 – AMA #6

    Episode 357 – AMA #6
    May 15 2025
    Cameron joins Ben for his first AMA as we bring you the sixth edition of our Listener Questions and Investing Lessons mini-series. Diving right in, Ben and Cameron share their stance on the multi-host format of the Rational Reminder podcast before walking us through the new PWL Retirement Planning Tool. Then, we unpack our venture with OneDigital, recent changes at PWL Capital, how we make each episode of this show, and how we allocate our time across podcast and business responsibilities. We also examine our protocol regarding guests, why Cameron and Ben would never gamble with their own money, how the human condition prevents the full comprehension of investing as a principle, and smart money moves to make under current market conditions. To end, we discuss the effects of a capital gains tax increase, common mistakes to avoid in managing personal finances, programs and technologies for financial advisors, and the After Show, which ends with an important discussion on testicular cancer. Key Points From This Episode: (0:00:00) How Ben and Cameron feel about the multi-host format of this podcast. (0:01:12) The new PWL Retirement Planning Tool, developed by Braden Warwick. (0:03:13) Joining OneDigital and other PWL changes from the past four months. (0:09:05) Behind the scenes: Making a Rational Reminder podcast episode. (0:12:38) Allocating time for research, preparation, creating content, and business. (0:17:27) How guests inform our approach to research and preparation. (0:19:29) The reasons why we’re not risk-averse but have no appetite for gambling. (0:24:26) Why investing has been largely solved, except for the human aspect. (0:30:13) The most “rational” investing practices under current market conditions. (0:34:25) How to approach a capital gains tax increase, and why banks do what they do. (0:38:03) The most costly mistakes when it comes to managing personal finances. (0:40:12) Why we don't offer advice-only planning for DIY investors. (0:44:07) Financial app tips and tricks and programs and technologies to be aware of. (0:48:23) The After Show: Alternate personalities, noise filtering, and testicular cancer. Links From Today’s Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Braden Warwick on LinkedIn — https://www.linkedin.com/in/braden-warwick-a40b48a3 PWL Capital Retirement Planning Tool — https://research-tools.pwlcapital.com/research/retirement OneDigital — https://www.onedigital.com/ Episode 341: PWL's Next Chapter — https://rationalreminder.ca/podcast/341 Episode 355: Do Index Funds Incur Adverse Selection Costs? — https://rationalreminder.ca/podcast/355 Episode 200: Prof. Eugene Fama — https://rationalreminder.ca/podcast/200 Episode 100: Prof. Kenneth French: Expect the Unexpected — https://rationalreminder.ca/podcast/100 Episode 93: Cliff Asness from AQR: The Impact of Stories, Behaviour and Risk — https://rationalreminder.ca/podcast/93 Episode 270: What Happened to All the Billionaires? with Victor Haghani and James White — https://rationalreminder.ca/podcast/270 Episode 11: Robb Engen: Simple vs. Complex — https://rationalreminder.ca/podcast/11 Episode 203: S*** (Misguided) Financial Advisors Say — https://rationalreminder.ca/podcast/203 The Money Scope Podcast — https://moneyscope.ca/ Financial Advisor Success Ep 433: When You 10X Your Advisory Firm to over $20M of Revenue…And Want to 10X Again, with Cameron Passmore — https://www.kitces.com/blog/cameron-passmore-pwl-capital-10x-revenue-growth-advisory-firm/ The Podcast Consultant — https://thepodcastconsultant.com/ The Long View — https://www.morningstar.com/podcasts/the-long-view Eli Beracha on LinkedIn — https://www.linkedin.com/in/eli-beracha-b8082250/ CIBC Mutual Funds — https://www.cibc.com/en/personal-banking/investments/mutual-funds.html Microsoft Excel — https://www.microsoft.com/microsoft-365/excel Python — https://www.python.org/ Monte Carlo — https://www.montecarlodata.com/ ChatGPT — https://chatgpt.com/ Papers From Today’s ...
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    56 minutos
  • Episode 356 – Abby Davisson: How to Make Decisions About Money and Love

    Episode 356 – Abby Davisson: How to Make Decisions About Money and Love
    May 8 2025
    How do we make the most important decisions in life with intention rather than impulse? In this episode, we are joined by Abby Davisson to unpack her practical framework for better decision-making. Abby is a Yale and Stanford alumnus, a former executive at Gap Inc., and the co-author of Money and Love. She is also the founder of the Money and Love Institute, which is dedicated to helping individuals and professionals navigate life’s most significant decisions. In today’s conversation, Abby unpacks her practical, research-backed “5Cs Framework” for decision-making and demonstrates how it can guide all the decisions couples need to make through life. We explore the idea of financial transparency, progressive pooling of finances, equitable division of housework, deciding when to outsource help, and navigating career pauses or transitions. Abby also shares how she applied the framework in her own life and offers an honest perspective for individuals navigating change. Join us to learn how to approach choices and the “life stuff” that doesn’t always show up in spreadsheets with Abby Davisson. Tune in now! Key Points From This Episode: (0:04:16) Myra Strober’s Work and Family course and how it led to writing Money and Love. (0:07:21) The drivers of poor decisions and the five Cs in Abby’s decision-making framework. (0:11:15) Discover the four big topics every couple should discuss and how to approach them. (0:15:09) Learn the fundamentals of how couples should handle and combine money. (0:17:49) Why division of housework is vital, how to approach it, and the role of gender norms. (0:21:49) Outsourcing tasks and the impacts of not taking the division of housework seriously. (0:24:27) How to decide where to live as a couple, and whether to rent or buy a house. (0:29:08) A real-life example of how to apply to 5C Framework for decision-making. (0:33:34) Navigating career ambitions, division of childcare, and stay-at-home parenting. (0:37:16) Hear how the 5C Framework helps deal with separation and family dynamics. (0:40:31) Ways the concept of retirement has changed and why families should discuss it. (0:44:12) Find out how involved adult children should be in their parents' retirement planning. (0:47:02) Advice for finding the right life partner and how to stress-test a relationship. (0:52:05) What to consider before getting married and having children, and why. (0:55:37) Abby’s biggest lessons from writing the book and her definition of success. Links From Today’s Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Abby Davisson — https://www.abbydavisson.com/ Abby Davisson — https://linkedin.com/in/abbydavisson/ Money and Love Institute — https://moneyloveinstitute.com/ Practically Deliberate Newsletter — https://abbydavisson.substack.com/ Gap Inc. — https://www.gapinc.com Myra Strober on LinkedIn — https://linkedin.com/in/myra-strober-a8b2846a/ Eve Rodsky — https://www.everodsky.com/ Carefull — https://getcarefull.com/ Baba Shiv — https://linkedin.com/in/baba-shiv-a859882/ Books From Today’s Episode: Money and Love — https://www.moneylovebook.com/
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    59 minutos
  • Episode 355 – Do Index Funds Incur Adverse Selection Costs?

    Episode 355 – Do Index Funds Incur Adverse Selection Costs?
    May 1 2025
    Marco Sammon joins Ben and Dan to unpack his latest paper, ‘Index Rebalancing and Stock Market Composition’, beginning with how Marco’s work (co-written by John Shim) compares to the Nobel Prize-winner Bill Sharpe’s paper, ‘Arithmetic of Active Management.’ We investigate the missing links in Sharpe’s logic before defining “the market” and ascertaining the main objectives of index funds. Then, we dive deeper into the mechanics of Marco’s paper, index and market tracking errors, why delayed rebalancing is more beneficial than instant rebalancing, and the role of technology in the modern tracking error obsession. We also assess the passive-active spectrum of index funds in portfolio management and learn how investors should choose their optimal excess return. To end, Marco shares practical applications for improving performance benchmarked against traditional indexes, and The Aftershow is all about bridging the gap between PWL Capital and you, our listeners. Key Points From This Episode: (0:00:00) Key takeaways from Marco Sammon’s latest paper and how it compares to Bill Sharpe’s ‘Arithmetic of Active Management.’ (0:08:10) Marco describes what’s missing from the ‘Arithmetic of Active Management’ logic. (0:09:11) Defining ‘the market’, the main objective of an index fund, and how index funds track the market. (0:15:57) The mechanics of Marco’s paper, ‘Index Rebalancing and Stock Market Composition.’ (0:18:38) Factor exposure, index and market tracking errors, and how often index funds trade. (0:26:28) Rebalancing less frequently; why delayed does better than instant rebalancing. (0:31:59) The tech run-up and lazy rebalancing, and the modern tracking error obsession. (0:36:51) Assessing the passive-active spectrum of index funds in portfolio management. (0:41:02) Exploring how investors should decide on their optimal excess return. (0:45:14) How the rising index fund ownership of stocks impacts the implicit cost of indexing (0:46:58) Practical ways to improve performance benchmarked against traditional indexes. (0:52:30) The Aftershow: Canadian finances, more airtime for Cameron, and PWL – OneDigital. Links From Today’s Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Episode 322: Prof. Marco Sammon: How are Passive Investors Affecting the Stock Market? — https://rationalreminder.ca/podcast/322 Episode 200: Prof. Eugene Fama — https://rationalreminder.ca/podcast/200 Episode 268: Itzhak Ben-David: ETFs, Investor Behavior, and Hedge Fund Fees — https://rationalreminder.ca/podcast/268 Episode 112: Michael Kitces: Retirement Research and the Business of Financial Advice — https://rationalreminder.ca/podcast/112 Marco Sammon — https://marcosammon.com/ Marco Sammon on LinkedIn — https://www.linkedin.com/in/marco-sammon-b3b81456/ Marco Sammon on X — https://x.com/mcsammon19 Marco Sammon | Harvard Business School — https://www.hbs.edu/faculty/Pages/profile.aspx?facId=1326895 Marco Sammon Email — mcsammon@gmail.com John Shim on LinkedIn — https://www.linkedin.com/in/john-shim-2931271b/ Vanguard — https://global.vanguard.com/ Sheridan Titman on LinkedIn — https://www.linkedin.com/in/sheridan-titman-226b0811/ Alex Chinko — https://alexchinco.com/ Erik Stafford | Harvard Business School — https://www.hbs.edu/faculty/Pages/profile.aspx?facId=6625 Itzhak (Zahi) Ben-David on LinkedIn — https://www.linkedin.com/in/ibendavi/ Bill Ackman on X — https://x.com/billackman ‘Millennium Loses $900 Million on Strategy Roiled by Market Chaos’ — https://www.bloomberg.com/news/articles/2025-03-08/millennium-loses-900-million-on-strategy-roiled-by-market-chaos Bogleheads — https://www.bogleheads.org/ The Money Scope Podcast Episode 8: Canadian Investment Accounts — https://moneyscope.ca/2024/03/01/episode-8-canadian-investment-accounts/ The Wealthy Barber Podcast — https://thewealthybarber.com/podcast/ Financial Advisor Success Podcast — https://www.kitces.com/blog/category/21-financial-advisor-success-podcast/ Financial Advisor Success Podcast Episode 433: When You 10X Your Advisory Firm To Over $20M Of Revenue…And Want...
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    1 hora e 3 minutos
  • Episode 354 - Jason Pereira: Expert Financial Planning

    Episode 354 - Jason Pereira: Expert Financial Planning
    Apr 24 2025
    Beyond the sales pitches, acronyms, and product talk, what does it mean to be a financial planner? In this episode of the Rational Reminder Podcast, we sit down with long-time industry leader and advocate Jason Pereira. Jason is a Canadian financial planner with over 20 years of experience, dual CFP certification (Canada and US), and a passion for professionalizing the field. In our conversation, Jason shares details about his client-centred investment philosophy, explains why fiduciary duty is foundational, and unpacks the complexities of index fund adoption in Canada. We also delve into the barriers to transparent, evidence-based advice, the true role of a financial planner, the impact of the Fintech revolution, and the pros and cons of mortality pooling. He also challenges common myths surrounding financial planning, shares best practices for vetting financial advisors, and explains why the industry is long overdue for a transformation. Join us for career insights, cautionary tales, and forward-looking ideas that challenge the conventional thinking of what financial planning is, with Jason Pereira! Key Points From This Episode: (0:05:13) Jason’s core investment philosophy and perspective on factor-based indexing. (0:07:15) Environmental, Social, and Governance (ESG) trends and client conversations. (0:12:36) What fiduciary duty means, why it matters, and why some institutions fight against it. (0:18:09) Unpack the complexities of why Canada is behind the US in index fund adoption. (0:20:52) Learn about the true role and common misconceptions of a financial planner. (0:24:30) Explore how technology and the rise of generative AI are changing financial planning. (0:31:55) How advisors can maintain strong personal relationships with clients in a digital world. (0:37:00) Find out what a high-quality financial plan looks like and what it covers. (0:39:44) His favourite financial planning-related argument to get into on the internet. (0:41:20) Uncover how mortality and annuities should influence financial planning. (0:48:06) Permanent life insurance explained: best use cases and when to avoid. (0:50:48) Jason shares his nerdiest and most broadly applicable financial planning advice. (0:53:29) He explains the best practices for estimating a client’s life expectancy. (0:56:48) A breakdown of financial planner designations and how to vet a financial planner. (1:03:59) Hear about his expert witness work and the costs of bad advice. (1:08:55) Discover why Jason chooses to fight against financial misinformation online. (1:11:18) The origins and vision of FPAC and Jason’s definition of success. Links From Today’s Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/` Jason Pereira — https://jasonpereira.ca/ Jason Pereira on Facebook — https://facebook.com/jasonpereirafinancialplanner/ Jason Pereira on X — https://x.com/jasonpereira Jason Pereira on LinkedIn — https://linkedin.com/in/pereirajm Jason Pereira on YouTube — https://youtube.com/@jasonperieraFP The Fintech Impact Podcast — https://jasonpereira.ca/the-fintech-impact-podcast-jason-pereira Conquest Planning — https://conquestplanning.com/en-ca/home Replit — https://replit.com/ FP Canada — https://fpcanada.ca/ Financial Planning Association of Canada (FPAC) — https://fpassociation.ca/ Episode 188: Prof. Ayelet Fishbach — https://rationalreminder.ca/podcast/188 Episode 236: Harold Geller — https://rationalreminder.ca/podcast/236 Papers From Today’s Episode: ‘Current Practices for Risk Profiling in Canada and Review of Global Best Practices’ — https://osc.ca/sites/default/files/2021-02/iap_20151112_risk-profiling-report.pdf ‘Financial Risk Tolerance: A Psychometric Review’ — https://dx.doi.org/10.2139/ssrn.3088292
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    1 hora e 17 minutos
  • Episode 353 – AMA #5

    Episode 353 – AMA #5
    Apr 17 2025
    The fifth installment of our Ask Me Anything sessions begins with the inevitable volatility of the stock market as we urge investors to remain calm amidst recent US stock declines. Similarly, we unpack the historical resilience of stock markets and offer advice for dealing with market crashes before discussing why bonds are not the best strategy for boosting returns. We examine the proposed Alberta Pension Plan, the Rational Reminder Podcast guests whose impact still ripples across PWL, how to be a PWL-style advisor, and we revisit the DFA versus Vanguard debate. We also explain why spending rules aren’t for us at PWL, the relationship between the amount to withdraw and the stock/bond allocation, and alternatives for short-term horizon investing, saving, and equities. To end, we hear feedback from Atti Ilmanen as well as reviews from listeners, but before all that, Mark McGrath shares bittersweet news! Stay tuned for an episode full of reflection, strategy, and insight. Key Points From This Episode: (0:01:13) The inevitability of market volatility and the historical resilience of stock markets. (0:13:04) How to approach a volatile market and advice for dealing with a market crash. (0:18:06) Why bonds are not a return-enhancing strategy. (0:21:04) A brief examination of the proposed Alberta Pension Plan. (0:25:02) Impactful guests who have influenced how we work at PWL Capital. (0:33:25) How to be a PWL-style advisor. (0:35:37) Weighing Dimensional funds (DFA) against Vanguard and others. (0:41:57) Why spending rules aren’t really our thing. (0:44:56) The relationship between the amount to withdraw and the stock/bond allocation. (0:49:50) Exploring alternatives for short-term horizon investing, saving, and equities. (0:57:00) An important announcement from Mark! (1:02:51) The Aftershow: feedback from Antti Ilmanen, listener reviews, and final thoughts. Links From Today’s Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Episode 248: Prof. William Goetzmann: Learning from Financial Market History — https://rationalreminder.ca/podcast/248 Episode 100: Prof. Kenneth French: Expect the Unexpected — https://rationalreminder.ca/podcast/100 Episode 352: Jessica Moorhouse: Everything But Money — https://rationalreminder.ca/podcast/352 Episode 316: Andrew Chen: "Is everything I was taught about cross-sectional asset pricing wrong?!" — https://rationalreminder.ca/podcast/316 Episode 224: Prof. Scott Cederburg: Long-Horizon Losses in Stocks, Bonds, and Bills — https://rationalreminder.ca/podcast/224 Episode 284: Prof. Scott Cederburg: Challenging the Status Quo on Lifecycle Asset Allocation — https://rationalreminder.ca/podcast/284 Episode 350: Scott Cederburg: A Critical Assessment of Lifecycle Investment Advice — https://rationalreminder.ca/podcast/350 Episode 89: Wade Pfau: Safety-First: A Sensible Approach to Retirement Income Planning — https://rationalreminder.ca/podcast/89 Episode 289: Retiring Retirement Income Myths with the Retirement Income Dream Team — https://rationalreminder.ca/podcast/289 Episode 122: Prof. Moshe Milevsky: Solving the Retirement Equation — https://rationalreminder.ca/podcast/122 Episode 59: Alexandra Macqueen: Financial Economics and Annuities: Rational Planning for Retirement — https://rationalreminder.ca/podcast/59 Episode 283: When Volatility is Risk, and Introducing The Money Scope Podcast — https://rationalreminder.ca/podcast/283 Episode 351: DFA vs. Vanguard — https://rationalreminder.ca/podcast/351 Episode 254: David Blanchett: Regret Optimized Portfolios, and Optimal Retirement Income — https://rationalreminder.ca/podcast/254 Episode 152: Evaluating Systematic Equity Strategies — https://rationalreminder.ca/podcast/152 Episode 347: The Case for Index Funds — https://rationalreminder.ca/podcast/347 Episode 281: Lifecycle Asset Allocation, and Retiring Successfully with Justin King — https://rationalreminder.ca/podcast/281 Episode 315: An Update from Avantis with Eduardo Repetto — https://...
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    1 hora e 8 minutos
  • Episode 352 – Jessica Moorhouse: Everything But Money

    Episode 352 – Jessica Moorhouse: Everything But Money
    Apr 10 2025
    What if the key to financial success isn’t just a better budget, but a better understanding of your relationship with money? In this episode of the Rational Reminder Podcast, Ben and Dan sit down with Jessica Moorhouse to delve into the ins and outs of personal finance. Jessica is a money expert, Accredited Financial Counsellor Canada®, speaker, and bestselling author of Everything but Money. She is also the host of the More Money Podcast, one of Canada’s leading personal finance shows. During today’s conversation, Jessica unpacks the difference between a financial planner and a counsellor and why empathy is the missing piece in personal finance. Find out how different emotions and early memories of money can influence our perspective on personal finance, hear why understanding your relationship with money is so important, and learn about common financial behaviours to avoid. Jessica also delves into the value of understanding past traumas, the power of intergenerational money experiences, and whether mental health or a financial foundation is more important. Tune in now! Key Points From This Episode: (0:02:50) Uncover the difference between a financial counsellor and a financial planner. (0:05:55) Her approach to working with clients and meeting their non-financial needs. (0:09:15) Find out what is missing in personal finance and why it is essential. (0:11:39) How shame impacts financial decision-making and common sources of shame. (0:14:50) Ways relative financial well-being and privilege shape our perspective of money. (0:19:46) Hear how to overcome financial shame and how it differs from feelings of guilt. (0:22:35) Rational versus irrational guilt and how fear affects financial decisions. (0:25:46) Learn about jealousy and envy as well as their impact on personal finance. (0:27:31) Early money memories and pragmatic money exercises to help frame your mindset. (0:36:54) Explore the power of understanding your money story for better financial decisions. (0:39:04) Unpack the common money habits to break and examples of toxic behaviours. (0:43:34) The interconnection between trauma and money and why it is important. (0:48:01) Jessica shares how learning about trauma informed her counselling approach. (0:53:05) Navigating mental health challenges and intergenerational money experiences. (0:58:11) Discover why spending money will not lead to long-term happiness. (1:02:33) Tips to begin rewriting your money story and Jessica's definition of success. Links From Today’s Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/ Jessica Moorhouse — https://jessicamoorhouse.com/ Jessica Moorhouse on LinkedIn — https://www.linkedin.com/in/jessicaimoorhouse/ Jessica Moorhouse on YouTube — https://www.youtube.com/c/jessicamoorhouse1 Jessica Moorhouse on TikTok — https://www.tiktok.com/@jessicaimoorhouse Jessica Moorhouse on Facebook — https://www.facebook.com/jessicaimoorhouse Jessica Moorhouse on Instagram — https://www.instagram.com/jessicaimoorhouse/ More Money Podcast — https://podcasts.apple.com/za/podcast/more-money-podcast/id996219697 Everything but Money — https://www.amazon.com/Everything-but-Money-Barriers-Financial/dp/1443472174
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    1 hora e 8 minutos
  • Episode 351 – DFA vs Vanguard

    Episode 351 – DFA vs Vanguard
    Apr 3 2025
    Dimensional Fund Advisors (DFA) and Vanguard have intersecting histories rooted in the development of the first-ever index fund. Vanguard's market-cap weighted index funds have been nothing short of revolutionary and they became synonymous with sensible investing for many good reasons, but Dimensional took implementing the ideas from academic finance a few steps further, leading to their own deserved acclaim. In today’s episode, Ben and Dan analyze over 30 years of history between DFA and Vanguard, from their founding and relationship to their rise as global leaders in asset management. We discover how their approaches to foundational finance theory differ, whether diversification is mostly semantics, and how DFA and Vanguard compare to one another over 25 years of matched US-domiciled mutual funds. We also discuss which approach is easier to implement, essential insights for fund advisors, DFA’s downsides despite its long-term outperformance of the Vanguard 500, and an uplifting cancer update from Ben in today’s After Show. For practical investment takeaways, tune in today! Key Points From This Episode: (0:01:14) Unpacking DFA and Vanguard’s history and relationship. (0:03:10) Mac McQuown and the birth of index funds at Wells Fargo in 1964. (0:07:48) How DFA and Vanguard became global leaders in asset management. (0:10:43) Understanding DFA and Vanguard’s approach to foundational finance theory. (0:19:34) The semantics of diversification. (0:22:22) Comparing 25 years of matched Dimensional and Vanguard US mutual funds. (0:33:36) Which fund advisor’s approach is easier for others to implement and why. (0:39:30) How DFA has outperformed Vanguard in the long run (with downsides to consider). (0:43:09) Recapping today’s conversation: what every fund advisor needs to know. (0:46:41) The After Show: Ben’s cancer update, Dan as co-host, and listener reviews. Links From Today’s Episode: Meet with PWL Capital — https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582 Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Dan Bortolotti on LinkedIn — https://www.linkedin.com/in/dan-bortolotti-8a482310/ Canadian Couch Potato — https://canadiancouchpotato.com/ Dimensional — https://www.dimensional.com/ Vanguard — https://investor.vanguard.com/ ‘Remembering John “Mac” McQuown, Whose Curiosity Drove a Life of Innovation’ — https://www.dimensional.com/dk-en/insights/remembering-john-mac-mcquown-whose-curiosity-drove-a-life-of-innovation ‘Episode 182: John “Mac” McQuown: The Data Will Sort That Out’ — https://rationalreminder.ca/podcast/182 Wells Fargo — https://www.wellsfargo.com/ ‘Episode 131: David Booth: The First Index Fund, Competing Fiercely, and Keeping it Simple’ — https://rationalreminder.ca/podcast/131 William F. Sharpe | Stanford University — http://web.stanford.edu/~wfsharpe/bio/bio.htm ‘Episode 316 - Andrew Chen: "Is everything I was taught about cross-sectional asset pricing wrong?!"’ — https://rationalreminder.ca/podcast/316 Marco Salmon on LinkedIn — https://www.linkedin.com/in/marco-a-salmon-a63512284 Books From Today’s Episode: The Incredible Shrinking Alpha — https://www.amazon.com/dp/0857198246 Papers From Today’s Episode: ‘The relationship between return and market value of common stocks’ — https://doi.org/10.1016/0304-405X(81)90018-0 ‘Market Efficiency’ — https://www.jstor.org/stable/246460 ‘The Cross-Section of Expected Stock Returns’ — https://doi.org/10.2307/2329112 ‘A Five-Factor Asset Pricing Model’ — https://dx.doi.org/10.2139/ssrn.2287202 ‘The Performance of Mutual Funds in the Period 1945-1964’ — https://dx.doi.org/10.2139/ssrn.244153 ‘The Death of Diversification Has Been Greatly Exaggerated’ — https://ssrn.com/abstract=2998754
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    55 minutos