Money For the Rest of Us – Détails, épisodes et analyse

In this episode, we explore the concept of optionality—how small, strategic decisions can lead to outsized rewards with limited downside risk. From ancient philosophy to modern financial strategies, discover how recognizing and seizing options can unlock opportunities in both life and investing.

Topics covered include:

• How call and put options work
• The difference between American and European style options and why it matters
• Why options are positively skewed
• Examples of using optionality in business and life
• Why it can be challenging to commit when an option is "in the money"

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Show Notes

Antifragile by Nassim Nicholas Taleb—Penguin Random House

The Wisdom Of Finance: Discovering Humanity in the World of Risk and Return by Mihir Desai—Harper Academic

Refuse to Choose!: Use All of Your Interests, Passions, and Hobbies to Create the Life and Career of Your Dreams—Penguin Random House

An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager—Penguin Random House

Related Episodes

482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

268: How To Better Manage Risk

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In Episode 491, we explore the five layers of investing, including which assets fit into each layer, and give examples of advertisements targeting each layer.

The five layers are:

• 1. Short-term trading
• 2. Longer-term speculations
• 3. Individual securities
• 4. Diversified portfolios focused on underlying drivers and factors
• 5. Maximum diversification with few changes and just a few holdings

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Show Notes

Asset Camp

The Role of Emotions in Financial Decisions by David Tuckett—ResearchGate

Morningstar Active Passive Barometer

Related Episodes

486: How Retail Traders Lose Big While Enriching Wall Street

431: The Long-term Bullish Case for Gold

306: Three Approaches to Asset Allocation

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Millions of fintech app users have lost access to their cash. In this episode, we explain why this happened and show you how to protect yourself when placing cash with traditional banks, neobanks, and fintech platforms.

Topics covered include:

• The mass chaos in the fintech space spawned by the bankruptcy of Synapse Financial Technologies
• What are FBO accounts, and why they are so troublesome
• What is the difference between a traditional bank, a neo bank, and a non-bank
• What to look for and protect yourself when investing your cash savings

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Show Notes

CHAPTER 11 TRUSTEE’S INITIAL STATUS REPORT BY UNITED STATES BANKRUPTCY COURT CENTRAL DISTRICT OF CALIFORNIA SAN FERNANDO VALLEY DIVISION—CourtListener

Fintech platform Synapse raises $33M to build ‘the AWS of banking’ by TechCrunch—Synapse

X Post by Jason Mikula—X

"Full Reconciliation... May Not Be Possible," Synapse Trustee Says by Jason Mikula—Fintech Business Weekly

Mercury Seeking $30M From Synapse, Emergency Court Filing Reveals by Jason Mikula—Fintech Business Weekly

Infighting among fintech players has caused TabaPay to ‘pull out’ from buying bankrupt Synapse by Mary Ann Azevedo—TechCrunch

Fintech startup Copper forced to discontinue banking services amid Synapse fiasco by Taylor Soper—GeekWire

a16z-backed Tellus wants to offer consumers a much better savings rate. Here’s how. by Mary Ann Azevedo—TechCrunch

FDIC Demands Three Companies Cease Making False or Misleading Representations about Deposit Insurance—FDIC

Related Episodes

440: Beware of Platform Risk

424: Are More Bank Runs Coming? The Collapse of Silicon Valley Bank

412: Where to Invest Your Cash Savings for Higher Yields

304: A 15% Guaranteed Return? Lending on the Fringes of Finance

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How slowing population growth and an eventual population peak will lead to competition for foreign workers, potentially higher inflation, and ultimately the need to transition to a steady-state economy rather than one based on constantly producing more.

Topics covered include:

• How longevity and birthrates impact population growth
• What areas of the world are seeing population increases versus declines
• Why high income countries will need more immigrants in order to sustain their population levels
• When is global population expected to peak and at what level
• Will greater dependency ratios lead to higher inflation
• What is the difference between growth and development
• How slowing population growth will impact investments
• Why the world will need to transition to a steady-state economy focused on well-being rather than growth

For more information on this episode click here.

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Show Notes

World Population Prospects 2022: Summary of Results—United Nations Department of Economy and Social Affairs

Five Key Findings from the 2022 UN Population Prospects by Hannah Ritchie, et al.

Germany Plans to Simplify Immigration Rules to Combat Labour Shortage—Schengen Visa

High Cost Deters IT Gurus from Filling Luxembourg Jobs by Kate Oglesby

Another Beautiful Italian Town Is Selling €1 Homes—This Time, No Deposit Required by Cailey Rizzo

Will Inflation Make a Comeback as Populations Age? by Olli Rehn

The Great Demographic Reversal: Ageing Societies, Wanting Inequality, and an Inflation Revival by Charles Goodhart and Manoj Pradhan

The Enduring Link Between Demography and Inflation by Mikael Juselius and Elöd Takáts

Unions Are Now a Lifestyle Choice for Some Young, Aspirational Workers, Says Walter Olson—The Economist

Economics for a Full World by Herman Daly

This Pioneering Economist Says Our Obsession with Growth Must End by David Marchese

The Environmental Kuznets Curve by David I. Stern

Small Is Beautiful: Economics as if People Mattered by Ernst F. Schumacher

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Five ways we can better take and manage risk.

Topics covered include:

• How likely is it that China will invade Taiwan and the stock market will fall 80%
• Why experts tend to be humble and don't make specific predictions
• What is the difference between risk and uncertainty, and between loss capacity and loss aversion
• What factors impact our degree of loss aversion and loss tolerance
• Why the economy needs more risk takers rather than rentiers

For more information on this episode click here.

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Show Notes

Investor Risk Profiling: An Overview by Joachim Klement, CFA—CFA Institute Research Foundation

Looming Large or Seeming Small? Attitudes Towards Losses in a Representative Sample by Jonathan Chapman, et al.

The Global Impacts of Climate Change on Risk Preferences by Wesley Howden and Remy Levin

Does Mood Take the Front Seat in Determining the Financial Risk-Taking Propensity of Individuals? Evidence from India by Crystal Glenda Rodrigues and Gopalakrishna B. V

Venture Capital AUM at Record High of $2tn—Preqin

10 Key Facts About the Capital Markets by Katie Kolchin, CFA—SIFMA

Related Episodes

What Is Risk vs Uncertainty?

268: How To Better Manage Risk

350: How to Invest in Startups on Equity Crowdfunding Platforms?

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How protected are you if the brokerage firm where you hold your stocks, bonds, and crypto assets files for bankruptcy? Why you shouldn't store your crypto assets with an online broker.

Topics covered include:

• How traditional brokerage firms protect their client assets in case of bankruptucy
• How cryptocurrency brokers, such as Voyager, mistreat their clients in bankruptcy proceedings
• What is the safest way to hold cryptocurrency

For more information on this episode click here.

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Show Notes

Voyager To Acquire Circle Invest Retail Digital Asset Business From Circle Internet Financial—Cision

Welcome, Circle Invest! Voyager Acquires Circle Invest's Retail Customers—Voyager

Crypto lender Voyager Digital files for bankruptcy by Shivam Patel, Sinead Cruise, and Tom Wilson—Reuters

Crypto lender Voyager addresses customer anger in first bankruptcy hearing by Dietrich Knauth—Reuters

If a Brokerage Firm Closes Its Doors—FINRA

Crypto Broker Voyager Digital Says Three Arrows Capital Hasn’t Repaid $666 Million in Loans by Vicky Ge Huang—The Wall Street Journal

From $10 billion to zero: How a crypto hedge fund collapsed and dragged many investors down with it by MacKenzie Sigalos—NCBC

Ropes & Gray

Update on Customer USD and Crypto—Voyager

Investors lament potentially lost ‘millions’ on Voyager bankruptcy by Brian Quarmby—Cointelegraph

Coinbase Quarterly Report

CFTC Charges MF Global Inc., MF Global Holdings Ltd., Former CEO Jon S. Corzine, and Former Employee Edith O’Brien for MF Global’s Unlawful Misuse of Nearly One Billion Dollars of Customer Funds and Related Violations—Commodity Futures Trading Commission

Related Episodes

387: Why Most Money Fails

392: What Is Money and How to Use It

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David and his son Camden conclude their conversation about money.

Topics covered include:

• A review of money principles discussed in Part 1
• How money is created
• How money is energy
• Why bank runs occur
• How cryptocurrency fails as money
• How money is debt backed by debt

For more information on this episode click here.

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David and his son Camden hold a conversation about money, its attributes, how it's created, and how money differs from investments.

Topics covered include:

• How our earliest money memories impact our views on money
• The difference between public and private money
• What are the two primary attributes of money
• Why money should be accepted with no questions asked
• How some countries use more cash than others
• How money differs from investing
• Why private money can be risky

For more information on this episode click here.

Show Notes

Free email course and PDF on how to beat inflation

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Three things investors can do to survive this bear market and thrive in its aftermath.

Topics discussed include:

• What are bear markets, how often do they occur, and how long do they last
• How the current bear market differs from previous ones
• How severe have losses been for various asset classes
• How have asset class long-term expected returns changed since last November when the sell-off began
• What actions can investors take to make it through this bear market and take advantage of opportunities

For more information on this episode click here.

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Show Notes

US Leading Indicators, Updated: Friday, June 17, 2022—The Conference Board

Investment Mentioned In this Episode

The Vanguard Total World Stock Market ETF (VT)

ARK Innovation ETF (ARKK)

iShares Edge MSCI Intl Value Factor ETF (IVLU)

Vanguard Total Bond Market ETF (BND)

iShares 20+ Year Treasury Bond ETF (TLT)

Related Episodes

306: Three Approaches to Asset Allocation

326: The New Math of Retirement Spending and Investing

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This week on the show, David shares some investing lessons from fly fishing and introduces our new course on How To Invest in Closed-End Funds.

Between now and the end of June get 25% off the course. You can learn more here.

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