The Investing for Beginners Podcast teaches you how to buy your first stocks and build long-term wealth in the stock market— without the hype or confusing jargon.
Hosts Andrew Sather and Stephen Morris break down value investing fundamentals into plain English: how to read financial statements, value a company, avoid common beginner mistakes, and build a long-term portfolio you can actually stick with.
Plus, in our At Any Rate episodes with host Evan Raidt, we tackle the personal finance side of wealth building— paying off debt, budgeting, saving, and the money debates every household faces before (and while) investing.
Stop chasing "get-rich-quick" schemes and start building your path to financial freedom, one episode at a time. Follow for more.
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AAR69 - Behind the Curtain - How Money Actually Moves
Tuesday, September 29, 2026 • Duration 51:56
Most of us don’t handle money directly anymore—we rely on platforms, banks, brokerages, and middlemen. In this episode, Evan and Andrew break down how those businesses actually make money off you, where the hidden costs live, and the practical moves you can use to “stack the deck” back in your favor. From credit card interest and swipe fees, to investing expense ratios, to overdraft traps, to mortgage math and real estate agent incentives—this is a plain-English walkthrough of the stuff nobody explains until it’s too late.
What You Will Learn
Credit cards make money mainly from interest, transaction (swipe) fees, and sometimes annual fees—and they’re designed to make spending feel painless.
In investing, “small” fees (expense ratios, advisor fees, trading friction) can become massive over time because they compound against you.
Banks profit by using your deposits to earn returns while paying you little—plus they rake in fees like overdraft and minimum balance penalties.
Mortgages are interest-front-loaded, so moving too soon can mean you paid mostly interest and built little equity.
Real estate agents are often incentivized to close fast and at higher prices, so you should consider asking for single-party representation or even flat-fee/hourly structures.
Timestamps
0:00 — Credit cards = short-term loans (and why rates are so high)
1:35 — Where card companies profit: interest, swipe fees, annual fees
3:05 — The real “win”: never carry a balance + avoid annual fees
4:25 — Why frictionless spending (tap/phone pay) makes you spend more
6:10 — Annual-fee cards: why the math usually doesn’t work
8:55 — Stock market basics: ownership, raising capital, buybacks, stock comp
13:10 — If commissions are “free,” how do brokers make money now?
17:10 — Practical defense #2: don’t day trade (you’re fighting the machine)
18:00 — Practical defense #3: don’t overpay for advice in wealth-building years
19:20 — Fees stack: advisor fees + fund fees + taxes can crush returns
20:15 — Banks: how they profit from your deposits (and why it matters)
25:10 — Why switching checking accounts is a pain (and banks know it)
28:10 — Mortgage optimization: credit score, shopping rates, extra principal
32:40 — Flat-fee/hourly agents: why it can align incentives better
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Upgrade your wardrobe with Quince to get high-quality, luxury essentials at a fraction of the cost by visiting https://quince.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
Cummins (CMI): Record Quarter, Falling Stock — What Wall Street Sees
Monday, September 28, 2026 • Duration 44:42
Cummins just printed a monster quarter—record revenue, raised guidance, and strong-looking headline numbers—yet the stock has been sliding hard. In this episode, Stephen and Andrew walk through why that disconnect happens and how to avoid the “headline trap” where a good quarter gets mistaken for a good stock. The big theme: stop reacting to the press release and start underwriting the business like a lender would—dig into what’s actually driving results and what could break.
They cover Cummins’ segment mix (and why profits can matter more than revenue), what to look for in margins when costs are rising, and how to think about cyclicality without overreacting to once-in-a-generation macro events. The episode wraps with a practical checklist mindset: look for one-time boosts (acquisitions, refunds, accounting noise), sanity-check cash flow, and remember that the learning curve never ends—your job is to catch mistakes early and course-correct.
What You Will Learn
How to separate a great quarter from a great stock
How to use segment revenue vs segment profitability to see what’s really driving results
What margin trends (gross + operating) can tell you about cost pressure vs pricing power
How to evaluate cyclicality using operating margin history (without overfitting one bad year)
A simple framework for spotting one-time boosts that can “fake” strength
Timestamps
00:00 Why Cummins is interesting: record quarter, stock still falling
01:30 The core question: what does Wall Street see that the headlines don’t?
02:15 First step: start with the earnings call + identify the real driver (data centers/power)
04:31 “Destination Zero” + why Cummins is more than “just engines”
05:33 Andrew’s approach: segment revenue vs segment profitability (and why it matters)
07:15 Transformation stories: legacy stability + fast-growing segment upside
10:46 Explaining price drops: using bear cases/analyst reports as clues, not gospel
13:00 Costs rising vs revenue rising: what “good” looks like through margins
17:17 Moat discussion: brand power, supplier presence, and quality as a competitive edge
32:31 Avoiding the trap: acquisitions + one-time items + cash flow as your “metal detector”
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
Path to Confidence: Why the Best Investors Rarely Swing
Thursday, September 24, 2026 • Duration 55:12
Every day, mainstream financial media demands that you swing at the latest hot stock, IPO, or macroeconomic tech trend. But the greatest investors in history succeed not by swinging at every pitch, but by ruthlessly defining their "Circle of Competence" and ignoring the rest. In this episode, Stephen and Andrew break down how to map out your unique investing edge, overcome the psychological trap of FOMO, and use the "Scuttlebutt" method to safely expand your knowledge without incinerating your capital.
What You Will Learn
The Ted Williams Rule: Why batting .406 in the stock market requires you to map out your exact "grid squares" of knowledge and let the Wall Street meatballs go by.
The Hubris Trap: How deep industry knowledge can trick smart professionals (like surgeons or engineers) into making arrogant, portfolio-killing mistakes.
Philip Fisher’s "Scuttlebutt" Method: How to investigate a company's true moat by interrogating its competitors, suppliers, and customers.
The Anatomy of FOMO: Why missing out on a cultural trend (like GameStop or SpaceX) is mathematically safer than playing a game you don’t understand.
How to Safely Expand Your Edge: Why studying a gas station (Casey's) naturally leads you to evaluate the pizza industry (Domino's)—and how adjacency safely builds your circle.
Timestamps
00:01:57 — Defining the "Circle of Competence" and why stock picking requires qualitative focus.
00:08:50 — Thomas J. Watson Sr. and why staying "smart in spots" beats being a jack-of-all-trades.
00:11:31 — The spice trade, McCormick, and why mature industries eventually stagnate.
00:14:25 — The Hubris Trap: Why industry experts often make the most arrogant investing mistakes.
00:20:42 — Philip Fisher’s "Scuttlebutt" method for investigating competitive advantages.
00:24:01 — FOMO (Fear of Missing Out) and the Ted Williams strike zone methodology.
00:30:20 — The struggle of saying "no" to good companies and establishing 24-hour cooling-off rules.
00:41:06 — How to map your Circle of Competence using the "Three Rings" visual framework.
00:46:40 — Safely expanding your circle through industry adjacencies.
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
AAR68 - Correcting for Financial Mistakes
Tuesday, September 22, 2026 • Duration 47:25
Nobody is perfect, and that applies to your budget, too. In this episode of At Any Rate, Evan and Andrew open up about their recent financial slip-ups—from overspending on dining out to completely forgetting about annual expenses like car insurance and birthdays.
Instead of dwelling on the guilt of busting a budget, the guys break down how to properly correct these mistakes without entering a toxic cycle of financial restriction. Plus, they share their favorite everyday "hacks" to save cash and catch up, including the hidden markup trap of food delivery apps, using simple cashback setups, and the psychological trick of over-budgeting.
What You Will Learn
Couples Finance: How to manage joint finances and split bills proportionally without acting as your partner's financial "nanny."
The Catch-Up Trap: Why trying to aggressively cut spending after a minor budget mistake can actually trigger a toxic binge-spending cycle.
The Delivery App Illusion: The massive hidden food markups on Uber Eats and Grubhub, and why ordering ahead on native apps saves you thousands a year.
Passive Sinking Funds: How to use basic store credit cards (like Target or Amazon) to generate guilt-free spending money without complex travel hacking.
Over-Budgeting: The psychological benefit of overestimating variable expenses like gas to create a built-in end-of-month reward.
The 3-to-6 Month Rule: A simple framework to determine if you should cut back to pay for a mistake, or if you need to pull from emergency savings.
Timestamps
02:51 – Main Episode Start: Bouncing Back from Financial Mistakes
05:00 – Evan’s Mistake: Overspending on dining out & adjusting the budget
08:39 – Couples Finance: How to handle joint budgets with separate accounts
16:08 – Andrew’s Mistake: Forgetting annual expenses (holidays & car insurance)
21:54 – Why trying to "catch up" on a busted budget creates a toxic money cycle
26:50 – Hack 1: The Uber Eats & Grubhub hidden markup trap
32:23 – Hack 2: Using simple cashback credit cards as a passive sinking fund
39:00 – Hack 3: Over-budgeting variable expenses for end-of-month rewards
40:40 – Hack 4: Replacing expensive habits with free, healthy challenges
43:30 – The 3-to-6 Month Rule: Knowing when to cut back vs. when to use savings
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download the Plynk app today to start building your investing confidence. https://plynkinvest.app.link/IFBpodcast
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Upgrade your wardrobe with Quince to get high-quality, luxury essentials at a fraction of the cost by visiting https://quince.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
What Is a Holding Company, And Should You Invest in One?
Monday, September 21, 2026 • Duration 42:52
You might think buying shares of Google means you are investing in a search engine, but you are actually buying into a decentralized corporate shell designed to isolate risk and absorb massive losses. While operating companies like Apple focus on core products, empires like Alphabet and Berkshire Hathaway use corporate structure as a financial weapon. In this episode, Stephen and Andrew look under the hood of the holding company model to determine if decentralization is the ultimate margin of safety, or a fast track to inefficient "di-worsification."
What You Will Learn
The Alphabet Illusion: Why buying Google actually means investing in a decentralized risk-management engine.
Ring-Fencing Failure: How holding companies legally isolate bankrupt subsidiaries—and the debt loophole that still managed to destroy Silicon Valley Bank.
The Meta Money Pit: How giant holding companies use massive subsidiary losses (like Reality Labs or Waymo) as a structural tax advantage to offset core profits.
Divestitures vs. IPOs: Why spinning off a subsidiary like Mobileye rewards parent companies differently than giving direct shares to investors.
The Conglomerate Discount: Why Wall Street historically punishes bloated empires, and why General Electric (GE) had to unbundle its businesses to survive.
Timestamps
00:01:46 — Defining the Holding Company: Alphabet and Berkshire vs. Apple and Uber.
00:03:55 — The Coca-Cola anomaly: Why an independent bottler historically outperformed the iconic parent brand.
00:06:40 — Centralization vs. Decentralization: Why holding company CEOs let subsidiaries operate autonomously.
00:08:50 — Ring-fencing risk: What actually happens to the parent stock if a subsidiary goes bankrupt?
00:12:44 — The Tax Shield: How Alphabet absorbs Waymo's operating losses to offset Google's massive profits.
00:14:48 — The Cash Flow Vacuum: How parent companies extract money from their subsidiaries.
00:19:28 — Offloading assets: The critical mechanical difference between an IPO (Mobileye) and a Divestiture (Danaher).
00:25:33 — The 1970s Conglomerate Boom, "di-worsification," and GE's forced unbundling.
00:28:07 — Evaluating Meta's Reality Labs: Is it a calculated tax shield or a structural cancer?
00:32:30 — Bonus lesson: What is "Circle Financing" and why Jensen Huang's recent NVIDIA investments don't fit the definition.
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
Path to Confidence: The 3-Step Safety Net Every Investor Needs
Thursday, September 17, 2026 • Duration 52:36
Beginner investors want to skip straight to the exciting part—picking stocks, chasing crypto gains, and dreaming of 100% returns. But diving into the market without a rock-solid financial foundation underneath you is a guaranteed recipe for panic-selling at the worst possible moment. In Part 2 of the "Path to Confidence" series, Andrew Sather sits down with Evan Raidt (At Any Rate) to break down why liquidity risk destroys unhedged portfolios, how to automate your cash flow to eliminate willpower, and why finding the financial "middle ground" beats both extreme austerity and YOLO reckless spending.
What You Will Learn
The Hidden Risk of Liquidity Lockup: Why investing money you might need in the short term forces you to liquidate assets at a loss during emergency market dips.
The Honest Budget Reality Check: How categorizing expenses into strict Needs, Wants, and Savings (plus-or-minus $100) exposes silent cash drains before you buy a single share.
Removing Willpower via Automation: Why setting up recurring transfers into S&P 500 index funds ($VOO$) and high-yield savings accounts guarantees compounding progress without daily discipline.
The 3-to-4 Month Catch-Up Rule: How to handle unexpected financial setbacks without blowing up your long-term investment strategy or falling into a burnout-inducing lifestyle change.
Escaping the Social Media Extremes: Why sustainable wealth creation happens in the middle ground between rinky-dink frugality and reckless lifestyle inflation.
Timestamps
00:01:23 — Why Financial Foundations Come First: Understanding liquidity risk and investment lockup
00:04:12 — The Mentorship Effect: How watching realistic financial progress beats hype-driven advice
00:09:10 — Step 1: The Honest Budget: Setting up Needs, Wants, and Savings without perfectionism
00:13:48 — Needs vs. Wants in Practice: Drawing the line between necessities (rent, childcare) and discretionary spends
00:20:47 — Overcoming the Getting-Started Speedbump: Shifting focus from short-term friction to long-term freedom
00:27:38 — Automating Your Wealth: Eliminating willpower by auto-depositing into savings and index funds ($VOO$)
00:32:42 — Why S&P 500 Indexing Works: Long-term historical resilience vs. short-term market noise
00:35:50 — Navigating Setbacks: Emergency funds, managing cash flow drains, and the 3-4 month catch-up window
00:46:40 — The Financial Middle Ground: Why steady compounding beats extreme FIRE frugality and YOLO spending
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
AAR67 - Our Ratio Rulebook - Solid Financial Starting Points
Tuesday, September 15, 2026 • Duration 56:26
Are you spending too much on your car? Is your rent making you "house poor"? In this episode of At Any Rate, Evan and Andrew ditch the vague financial advice and dive into the exact ratios and percentages you should be aiming for to secure your financial future.
From breaking down the classic 50/30/20 budgeting rule (and why it must be calculated on your net income) to establishing hard limits for vehicle expenses, housing costs, and "fun money," the guys provide a blueprint for evaluating your spending. Plus, they explore how to handle windfalls and the right way to size "risky" investments in your portfolio.
What You Will Learn
The 50/30/20 Rule: How to properly categorize your needs, wants, and savings without feeling restricted.
The 15% Vehicle Limit: Why you must include gas, insurance, and maintenance when calculating your car affordability.
The 30% Housing Limit: The financial superpower of buying a "starter home" instead of stretching for a dream home immediately.
Net vs. Gross Savings: Why you shouldn't include your employer 401(k) match when calculating your personal 20% savings rate.
The 50/50 Windfall Rule: A guilt-free system for splitting bonuses and tax refunds between treating yourself and building wealth.
Portfolio Risk Management: Why it's okay to own highly volatile stocks—as long as you size them correctly.
Timestamps
02:04 – Andrew’s favorite investing metric: Calculating Expected Returns
05:42 – The 50/30/20 Budgeting Rule: Needs, Wants, and Savings
07:32 – What to do if your "Needs" exceed 50% of your income
11:18 – The 15% Rule for Vehicle Expenses (Including gas and insurance)
19:20 – Housing Ratios (30%) & The compounding power of starter homes
28:15 – Credit Card Debt Ratio: Why the only acceptable target is 0%
31:08 – Retirement Savings: How much of your savings bucket should be locked away?
38:23 – Calculating your savings rate on Net vs. Gross income
40:07 – Portfolio Risk: Defining "risky" investments and sizing them correctly
48:26 – The 50/50 Windfall Rule: How to handle bonuses and tax refunds without guilt
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download the Plynk app today to start building your investing confidence. https://plynkinvest.app.link/IFBpodcast
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Upgrade your wardrobe with Quince to get high-quality, luxury essentials at a fraction of the cost by visiting https://quince.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
Ian Cassel’s Rules for Profitable Small-Cap Investing
Monday, September 14, 2026 • Duration 58:07
Most retail investors assume the biggest market gains belong to high-flying mega-cap tech stocks, but historical data reveals a completely different reality: 87% of all 10x stocks over the past decade started as microcaps. However, blindly chasing small-company story stocks is the fastest way to incinerate capital. In this episode, Andrew Sather sits down with microcap veteran and author Ian Cassel (Stock Picker, Intelligent Fanatics) to uncover how retail investors can exploit institutional blind spots, evaluate management as a primary moat, and execute disciplined exit strategies in microcap equities.
What You Will Learn
The 18% Profitability Filter: Why 82% of microcap stocks are unprofitable traps—and how focusing on the profitable minority eliminates 95% of blow-up risk.
Management as the Moat: Why traditional competitive moats don't exist in $50M companies, making repeated winning CEOs and skin-in-the-game teams the ultimate catalyst.
The Illiquidity Premium: How institutional size constraints create a structural advantage for retail investors trading illiquid $10k/day volume stocks.
Why You Can't "Coffee Can" Microcaps: Why the average winning microcap trade lasts 16–18 months and requires active maintenance due diligence rather than passive buy-and-hold.
The 49% Hit Rate Reality: What Lee Freeman-Shore’s study of top hedge fund managers proves about stock-picking accuracy vs. execution and position sizing.
Timestamps
00:01:00 — Introduction: Welcoming Ian Cassel, author of Stock Picker and founder of Microcap Club
00:02:26 — Investor Life Cycles: How early wins, losses, and environment shape risk temperament
00:05:16 — The $20k to $120k to $8k Rollercoaster: Ian’s dot-com boom and bust during high school and college
00:11:00 — Story Stocks vs. Fundamentals: Why starting with narrative stocks creates high risk tolerance
00:12:35 — The XM Satellite Radio Case Study: How a $1.78 microcap turnaround generated a 10x recovery
00:18:38 — Management is the Moat: Evaluating repeated winners, capital allocators, and pedigreed teams
00:25:15 — Why Quality Small Businesses Go Public: Valuations, capital efficiency, and global microcap markets
00:30:25 — The Reality of Microcap Holding Periods: Why short shelf-lives demand active selling discipline
00:33:25 — Developing the "Spidey Sense": Recognizing management body language and thesis decay
00:40:00 — The Illiquidity Premium Data: Roger Ibbotson’s Yale study on microcap outperformance
00:48:25 — The Art of Execution: Why top investors win with a 49% hit rate through position sizing
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
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Path to Confidence: Stop Chasing the Market and Pick Your Lane
Thursday, September 10, 2026 • Duration 01:06:57
In Part 1 of the "Path to Confidence" series, Stephen Morris and Andrew Sather tackle a critical lesson for beginner investors: you must know what game you are playing to avoid gambling away your money. The hosts break down key investor archetypes—from hands-off 401(k) "set-it-and-forget-it" investors to broad-market index/ETF purists—exploring the pros, cons, and tax strategies behind each path.
Moving beyond passive strategies, Stephen and Andrew analyze the realities of physical real estate versus REITs, alongside the mental grit required to succeed as an individual stock picker. The episode wraps up with a concrete action step: identify your investor archetype, write it down, and use it to confidently filter out any financial media noise that doesn't fit your personal game plan.
What You Will Learn
How to identify your specific investor archetype so you stop playing the wrong financial game and focus on your strengths.
The key pros, cons, and tax strategies of 401(k)s, Roth IRAs, and low-cost index ETFs.
The truth about real estate investing, comparing the heavy debt and hands-on labor of physical property to the passive simplicity of REITs.
The mental grit required for stock picking, and why long-term fundamental investing beats high-stress day trading every time.
A simple, 1-step action item to filter out distracting financial media noise and stay completely confident in your strategy.
Timestamps
02:15 – Introducing the "Path to Confidence" Series
03:30 – Archetype 1: The 401(k) "Set It & Forget It" Investor
04:30 – Pros & Cons of Employer-Sponsored 401(k) Plans
07:15 – Strategy Breakdown: 401(k) Match vs. Roth IRA
09:20 – Archetype 2: The Index Fund & ETF Purist
11:20 – Why ETFs Are the Safest Learning Ground for Beginners
12:55 – Archetype 3: Real Estate (Is Your Primary Home an Investment?)
15:10 – The Reality of Physical Real Estate: Leverage, Labor & Debt Risks
19:37 – REITs: The Truly Passive Alternative to Property Management
29:13 – Archetype 4: The Stock Picker Mindset & Mental Toughness
49:50 – Archetype 5: Trader vs. Investor (Day Trading Risks vs. Compounding)
58:10 – The Action Step: Your Sticky Note Assignment & Filtering Media Noise
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
The Perfect Jean makes insanely comfortable, great-fitting jeans you can wear all day—check them out at theperfectjean.nyc.
Function Health helps you get ahead of your health with comprehensive lab testing and clear, actionable insights—learn more at functionhealth.com.
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
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AAR66 - Who Wants to Be a Millionaire?
Tuesday, September 8, 2026 • Duration 01:00:11
In this special game-show episode of At Any Rate, Evan puts Andrew in the hot seat for a 15-question financial trivia challenge. From guessing 2026 401(k) contribution limits and average new car prices to exposing credit card score myths and gym membership waste, the guys test how well real-world finance metrics match consumer intuition.
Whether you're playing along in the car or looking to sanity-check your own budget, this episode combines surprising macroeconomic statistics with practical behavioral advice on managing debt, bonuses, and grocery budgets.
What You Will Learn
U.S. Credit Score Reality: Why the average American credit score (740) is significantly higher than most consumers assume.
Bear Market Horizons: Why the average bear market lasts only 9.6 months and how "recency bias" tricks investors into staying on the sidelines.
Credit Card Debt Myths: Why 48% of Americans carry a monthly balance—and why carrying debt does not improve your credit score.
The Cost of Driving: How new car prices ($49,000) have pushed average loan terms to a staggering 69 months.
The 60/40 Bonus Rule: How to enjoy workplace bonuses without blowing your long-term savings goals.
Stock Market Non-Participation: Why 38% of Americans hold zero stock investments and how to overcome financial paralysis.
Timestamps
0:00 – Game Show Intro & Rules: Who Wants to Be a Financial Millionaire?
3:42 – Tier 1: Average Credit Scores & 401(k) Contribution Limits ($24,500)
8:27 – New Car Price Realities ($49,000) & Average Credit Card Debt ($7,000)
12:55 – Bear Market Historical Length (9.6 Months) vs. Recency Bias
17:35 – Housing Market Leverage: Total Real Estate Value vs. U.S. GDP (4x)
19:11 – Tier 2: Emergency Savings Deficits (30% with $0 in Savings)
27:32 – Gym Membership Waste (67% Unused) & Wedding Costs ($34,200)
31:32 – Credit Card Myths: Why Carrying a Balance Does NOT Improve Credit
34:42 – Tier 3: New Car Loan Terms (69 Months) & Median U.S. Bonuses ($1,700)
40:47 – How to Manage Bonuses: The 60/40 Spending & Savings Rule
43:00 – Monthly Gas Costs ($200) vs. EV Charging Efficiency ($45/mo)
44:35 – Average Grocery Bills ($400/mo) & Luxury Grocery Markups
46:37 – Moneyball Question: Stock Market Non-Participation (38%) & Crypto/Gambling Traps
51:47 – Overcoming Financial Hopelessness: Building Habits & Incremental Progress
55:35 – Final Score
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download the Plynk app today to start building your investing confidence. https://plynkinvest.app.link/IFBpodcast
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Upgrade your wardrobe with Quince to get high-quality, luxury essentials at a fraction of the cost by visiting https://quince.com/beginners
Turn your passion into profit, connect directly with eager buyers, and grow your business by hosting live, interactive auctions at https://whatnot.com/sell
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
