Money For the Rest of Us

Camden and David converse with Asha Mehta, Managing Partner & CIO at Global Delta Capital about the bullish case for emerging and frontier market stocks as well as the risks.

Topics covered include:

• How to go about investing in emerging markets
• Should you invest in China
• Where are the most promising emerging and frontier markets
• Why aggregate emerging markets earnings have been lackluster
• How to balance quantitative analysis with subjective reasoning

For more information on this episode click here.

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Show Notes

Power of Capital by Asha Mehta

Global Delta Capital

Related Episodes

249: Should You Invest in India?

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How the bankruptcy of FTX, the world's third-largest crypto exchange, undermines trust in cryptocurrency and decentralized finance, making it even more difficult for crypto to ever be taken seriously as a monetary alternative.

Topics covered include:

• How FTX squandered its customers' deposits
• How FTX is another example of a private money bank run
• How traditional securities lending works and why it is very low risk compared to the highly speculative nature of cryptocurrency lending platforms
• How FTX's demise is impacting numerous entities including Voyager, BlockFi, Bitcoin miners, venture capitalists, and many others
• How should individual investors store cryptocurrency, and does it even make sense to continue to own it

For more information on this episode click here.

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Show Notes

Don't Miss Out on Crypto: Larry David FTX Commercial

The spectacular implosion of crypto’s biggest star, explained by Emily Stewart—Vox

Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet by Ian Allison—CoinDesk

FTX held less than $1bn in liquid assets against $9bn in liabilities by Antoine Gara, Kadhim Shubber, and Joshua Oliver—Financial Times

FTX balance sheet, revealed by FT Alphaville—Financial Times

FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall by Vicky Ge Huang, Alexander Osipovich, and Patricia Kowsmann—The Wall Street Journal

After FTX: Rebuilding Trust in Crypto’s Founding Mission by Noelle Acheson—CoinDesk

How Sam Bankman-Fried’s Crypto Empire Collapsed by David Yaffe-Bellany—The New York Times

Exclusive: At least $1 billion of client funds missing at failed crypto firm FTX by Angus Berwick—Reuters

Investors Who Put $2 Billion Into FTX Face Scrutiny, Too by Erin Griffith and David Yaffe-Bellany—The New York Times

FTX signs deal with option to buy BlockFi for up to $240 mln by Niket Nishant and Aditya Soni—Reuters

Voyager Digital and Voyager Official Committee of Unsecured Creditors Provide Update on Reorganization Plan—Cision

Crypto lender BlockFi says it has significant exposure to FTX by Manya Saini and Shailesh Kuber—Reuters

Coinbase Quarterly Earnings

Related Episodes

393: What Happens If Your Brokerage Firm Goes Bankrupt

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How the International Monetary Fund, the world's economic firefighter, works for global monetary cooperation and prosperity while using its own made-up currency, the SDR.

Topics covered include:

• What was the Bretton Woods monetary system that led to the formation of the IMF and the World Bank
• How the World Bank and IMF differ
• What does the IMF do
• How the IMF creates its own money out of thin air
• Why does Argentina, the IMF's largest borrower, keep defaulting on its debt obligation including those to the IMF
• Why the IMFs negotiating tactics are controversial

For more information on this episode click here.

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Show Notes

Creation of the Bretton Woods System, July 1944—Federal Reserve History

The World Bank

International Monetary Fund

Sterling devalued and the IMF loan—Cabinet Papers, The National Archive

Total IMF Credit Outstanding, Movement From November 01, 2022 to November 07, 2022—IMF

Why you can’t technically default on the IMF by Izabella Kaminska—Financial Times

Implications of the IMF's SDR Allocation for Australia and the Global Economy by Ben Hollebon and Kate Hickie—Reserve Bank of Australia

The IMF cannot solve Argentina’s dysfunction—The Economist

IMF Executive Board Completes Second Review of the Extended Arrangement Under the Extended Fund Facility for Argentina—IMF

The IMF: The World’s Controversial Financial Firefighter—by Jonathan Masters, Andrew Chatzky, and Anshu Siripurapu—Council on Foreign Relations

Related Episodes

233: Is An Emerging Markets Crisis Imminent?

322: Why Currency Exchange Rates Matter?

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How to survive in a world where luck and randomness play a pivotal role.

Topics covered include:

• What are power laws
• What are the narrative fallacy and hindsight bias
• What are examples of domains where randomness has contributed to success
• What are ways to distinguish investing skill from luck
• How sixth-century philosopher Boethius had an accurate view of chance
• What are ways we can benefit from good luck while protecting ourselves from bad luck

For more information on this episode click here.

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Show Notes

Redacted messages to and from Elon Musk—Delaware’s Court of Chancery

Elon Musk’s Texts Shatter the Myth of the Tech Genius by Charlie Warzel—The Atlantic

Talent Versus Luck: The Role of Randomness In Success and Failure by Alessandro Pluchino, Alessio Emanuele Biondo, and Andrea Rapisarda

Susan Alexandra

Welcome to Susan Alexandra’s Dream World by Sophia Herring—Clever, Architectural Digest

The Fashion Set Can’t Get Enough of Susan Alexandra’s Colorful, Kitschy Designs by Noah Lehava—Coveteur

Quantifying the evolution of individual scientific impact by Roberta Sinatra et al.

What's in a Surname? The Effects of Surname Initials on Academic Success by Liran Einav and Leeat Yariv

Middle names make you look smarter—University of Southhampton

Admission to Selective Schools, Alphabetically by Štěpán Jurajda and Daniel Münich

It Pays to Be Herr Kaiser: Germans With Noble-Sounding Surnames More Often Work as Managers Than as Employees by Raphael Silberzahn and Eric Luis Uhlmann

The relative-age effect and career success: Evidence from corporate CEOs by Qianqian Du, Huasheng Gao, Maurice D. Levi

The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb

Were Those Great Returns the Result of Skill — or Just Luck? by Julie Segal—Institutional Investor

Related Episodes

323: The Economy Is Not A Machine

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How to use laddered inflation-indexed bonds (i.e., TIPS), CDs, fixed annuities, and fixed index annuities to meet retirement living expenses while worrying less about running out of money.

Topics covered include:

• How individuals can use liability-driven investment strategies
• Why now is the best opportunity to buy Treasury Inflation Protection Securities in 15 years
• How to use bond ladders
• How deferred fixed and deferred variable annuities work
• How to analyze fixed index annuities

For more information on this episode click here.

Show Notes

Worry-Free Investing by Zvi Bodie and Michael J. Clowes

Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed—FRED

Market Yield on U.S. Treasury Securities at 5-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed—FRED

New 5-year TIPS auctions with a real yield of 1.732%, highest in 15 years—TIPSwatch

Complete List of Multi-Year Guaranteed Annuities (MYGAs), October 26, 2022—ImmediateAnnuities.com

Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement by Wade Pfau

A Complete Guide to Investing in TIPS and I Bonds—Money for the Rest of Us

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279: Why All Retirees Should Consider an Income Annuity

326: The New Math of Retirement Spending and Investing

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In Episode 406, David and Camden visit with Annie Duke about how to better manage our investment portfolios including when and what to sell. We also discuss a number of behavioral finance topics such as mental accounting, sunk costs, and goal myopia.

Annie Duke is an author, speaker, and consultant in the decision-making space, as well as Special Partner focused on Decision Science at First Round Capital Partners, a seed stage venture fund. Annie’s latest book, Quit: The Power of Knowing When to Walk Away, was released on October 4, 2022. Her previous book, Thinking in Bets, is a national bestseller, and is highly influential on the investing philosophy of Money for the Rest of Us. 

As a former professional poker player, she has won more than $4 million in tournament poker, won a World Series of Poker Bracelet and is the only woman to have won the World Series of Poker Tournament of Champions and the NBC National Poker Heads-Up Championship. She retired from the game in 2012. 

Prior to becoming a professional poker player, Annie was awarded a National Science Foundation Fellowship to study Cognitive Psychology at the University of Pennsylvania.

These days, Annie loves to dive deep into decision-making under uncertainty. As can be seen from her new book, her latest obsession is the topic of quitting.

For more information on this episode click here.

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Show Notes

Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts by Annie Duke

Quit: The Power of Knowing When to Walk Away by Annie Duke

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What is volatility and what causes it to rise and fall? How volatility itself contributes to more volatility such as in the example of the chaotic UK government bond market where long-term yields have increased by 4% in 2022.

Topics covered include:

• How the role of volatility has changed in financial markets
• What caused UK interest rates to spike and long-term bond investors to lose 50%
• What is liability-driven investment
• What drives increases in volatility and volatility spikes and spillovers are more frequent
• How to earn income from shorting volatility and what are the risks
• What we can learn when financial securities blow up

For more information on this episode click here.

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Show Notes

The volatility virus strikes again by Eric Lonergan—Financial Times

How ‘Liability-Driven’ Pension Funds Triggered UK Bond Panic by Loukia Gyftopoulou and Greg Ritchie—Bloomberg

UK government debt and deficit: December 202—UK Office for National Statistics

Markets are more fragile than investors think by Robin Wigglesworth—Financial Times

Volatility and the Alchemy of Risk: Reflexivity in the Shadows of Black Monday 1987—Artemis Capital Management

What Caused the Volatility “Volmageddon” on 5-Feb-2018 by Vance Harwood—Six Figure Investing

Gamma Explained—Merrill

Delta Explained—Merrill

Inside Volatility Trading: Is VIX Backwardation Necessarily a Sign of a Future Down Market? by Scott Bauer

Investments Mentioned

WisdomTree CBOE S&P500 PutWrite Strategy ETF (PUTW)

Simplify Volatility Premium ETF (SVOL)

Related Episodes

159: What You Need To Know About Volatility

283: Why You Should Care About Carry Trades

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What has caused the U.S. dollar's currency exchange rate to be the strongest in twenty years? How a strong dollar leads to slower global economic growth and falling asset prices.

Topics covered include:

• Why a strong dollar is a no-win situation for the rest of the world
• Why have inflation and interest rates increased
• Why recession risks are rising as central banks combat inflation
• Why asset prices fall when interest rates rise
• What would cause the U.S. dollar to weaken from these levels
• How to protect against currency fluctuations

For more information on this episode click here.

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Show Notes

Wall St blames missteps at FedEx as parcel service fails to delivery Steff Chávez and Andrew Edgecliffe-Johnson—Financial Times

The Global Dollar Cycle by Maurice Obstfeld and Haonan Zhou, BPEA Conference Drafts, September 8–9, 2022—Brookings Papers on Economic Activity

Monetary policy challenges posed by global liquidity by Hyun Song Shin—BIS

Dollar beta and stock returns by Valentina Bruno, Ilhyock Shim and Hyun Song Shin—BIS

Wonking Out: The Mysteries of the Almighty Dollar by Paul Krugman—The New York Times

Rents Drop for First Time in Two Years After Climbing to Records by Will Parker—The Wall Street Journal

Stop looking for a bogeyman to explain sterling’s collapse by Kate Martin—Financial Times

British Pound / US Dollar Historical Reference Rates from Bank of England for 1975 to 2022—Pound Sterling Live

Related Episodes

215: Is A Dollar Collapse Coming?

338: The National Debt, Inflation, and the U.S. Dollar—What Could Go Wrong?

364: Should You Hedge Your International Stock Exposure Against Currency Fluctuations?

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How risk perceptions and actions have changed over several years of the pandemic. How the pandemic's impacts continue to affect politics, the economy, financial markets, how we invest, and our personal lives.

Topics covered include:

• Is the pandemic really over?
• What percentage of people continue to isolate at home
• How behaviors such as eating out and visiting friends have changed throughout the pandemic.
• How work has changed with the pandemic
• Has pandemic stimulus changed beliefs about the sustainability of the national debt leading to structural inflation
• How productivity improvements could improve the national debt burden
• What investment lessons has David learned from the pandemic

For more information on this episode click here.

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Show Notes

Biden’s claim that ‘pandemic is over’ complicates efforts to secure funding by Dan Diamond—The Washington Post

COVID-19 Dashboard—The Center for Systems Science and Engineering at Johns Hopkins University

Axios/Ipsos COVID-19 Poll – Wave 70, September 9–12, 2022

Study: 163 Million People Dine Out at Least Once a Week—QSR Magazine

U.S. Return-to-Office Rates Hit Pandemic High as More Employers Get Tougher By Peter Grant—The Wall Street Journal

Reassessing Constraints on the Economy and Policy; Panel Topic: An End to Pre-Pandemic Trends or Just a Temporary Interruption? by Valerie A. Ramey

Inflation as a Fiscal Limit by Francesco Bianchi and Leonardo Melosi

Related Episodes

333: How The Covid Shock Nearly Destroyed The Financial System

400: What If High Inflation Doesn’t End?

Investments Mentioned

Simplify Interest Rate Hedge ETF (PFIX)

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What are the drivers that lead to higher student loan balances? Why a one-time student loan forgiveness program doesn't solve the problem of increasing student debt. What are some more viable longer-term solutions.

Topics covered include:

• How big is the Biden Administration student debt forgiveness plan
• How big has the student debt burden grown
• Why are borrowings for students increasing
• Why Baby Boomers spent so much less on college
• How are student loans accounted for by the U.S. federal government
• What is the impact on the deficit and potentially inflation of forgiving billions of dollars of student debt

For more information on this episode click here.

Show Notes

Student Debt And The Federal Budget | How Student Loans Impact The U.S. Fiscal Outlook, November 2021—Bipartisan Policy Center

What the Student-Loan Debate Overlooks by Ronald Brownstein—The Atlantic

See the Average College Tuition in 2022-2023 by Emma Kerr and Sarah Wood—U.S. News & World Report

Biden’s Student-Debt Plan Could Chip Away at the Racial Wealth Gap by Sheelah Kolhatkar—The New Yorker

If your federal student loan payments are high compared to your income, you may want to repay your loans under an income-driven repayment plan—Federal Student Aid

What Does Student Debt Cancellation Mean for Federal Finances?—Committee for a Responsible Federal Budget

Government payments by program—Economic Research Service, U.S. Department of Agriculture

Projected Lifetime Earnings by Major by Douglas A. Webber, December 1st, 2019

Related Episodes

245: Is College Worth It?

307: Income Share Agreements—Good for Students or Investors?

327: Is Student Loan Forgiveness A Good Idea?

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Warren Buffet said, "Diversification makes very little sense for anyone that knows what they’re doing." He also said, "Diversification is a protection against ignorance..." Most of us need that protection against ignorance, yet diversification often makes us feel bad when some of our holdings don't do as well as others. We make the case why we should diversify anyway.

Topics covered:

• Warren Buffet says it's crazy to own more than 30 stocks, but Berkshire Hathaway owns 48 stocks
• What does it mean to analyze a business
• How have U.S. stocks performed relative to non-U.S. stocks long-term
• What has driven the outperformance of U.S. stocks and what has to happen for it to continue
• What are examples of diversification plays just in case the U.S. falters

For more information on this episode click here.

Show Notes

Warren Buffett and Diversification—GrahamValue.com

The Complete Berkshire Hathaway Portfolio by John Divine U.S. News

The Business Cycle Is Different Than The Economic Cycle - Crestmont Research

EU Natural Gas—Trading Economics

Related Episodes

254: Should You Be 100% Invested In Stocks?

275: Are You Over Diversified?

364: Should You Hedge Your International Stock Exposure Against Currency Fluctuations?

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How economic wars, pandemics, and worker shortages could lead to years of high structural inflation. What needs to happen to avoid this dire inflation scenario.

Topics covered include:

• What are the three inflation lessons Federal Reserve Chair Jerome Powell shared
• What is inflation anchoring
• What caused the current period of high inflation
• How China and Russia contributed to low inflation and why those trends have reversed
• How behavior changes and productivity improvements can contribute to lower inflation
• How to invest for an extended period of high inflation

For more information on this episode click here.

Thanks to Policygenius for sponsoring the episode.

Show Notes

Monetary Policy and Price Stability, August 26, 2022, byChair Jerome H. Powell—Board of Governors of the Federal Reserve System

Fed's Kashkari: 'happy' with market reaction to Powell speech by Ann Saphir and Matthew Lewis—Reuters

War and Interest Rates by Zoltan Pozsar—Credit Suisse

2nd Quarter Market Commentary, July 2022—Horizon Kinetics

BP Energy Outlook 2022

Investments Mentioned

Invesco DB Commodity Tracking ETF (DBC)

Horizons Kinetics Inflation Beneficiary ETF (INFL)

Related Episodes

342: Is Another Great Inflation Coming?

384: Has a Commodities Bull Market Supercycle Started? If So, How Do You Invest in It?

395: How Population Trends Will Impact Growth, Inflation, Investing, and Well Being

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We explore examples of positive and negative unintended consequences, what causes them, and how to navigate a world where unanticipated things happen all of the time.

Topics covered include:

• What leads to unintended consequences
• What are some unintended consequences of QE and stimulus, price controls, tax incentives, gun legislation, and marijuana legalization
• How positive unintended consequences and order can arise from the bottom up
• How recent climate legislation could lead to unintended consequences
• Why customers don't always know what they want

For more information on this episode click here.

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Show Notes

Large rent increases squeeze metro Phoenix tenants by Associated Press—The Journal Record

Unintended Consequences by Karras Lambert and Christopher J. Coyne

The Seen, the Unseen, and the Unrealized: How Regulations Affect Our Everyday Lives by Per L. Bylund

Norway reconsiders electric car privileges by Chris Randall—electrive.com

More Guns, More Unintended Consequences: The Effects of Right-to-Carry on Criminal Behavior and Policing in Us Cities by John J. Donohue, Samuel Cai, Matthew Bondy, and Philip J. Cook

Marijuana Legalization and Fertility by Sarah Papich

Japan’s latest alcohol advice: please drink more by Leo Lewis and Kana Inagaki—Financial Times

The Poverty of Historicism by Karl Popper

How the New Climate Bill Would Reduce Emissions by Nadja Popovich and Brad Plumer—The New York Times

Democrats Designed the Climate Law to Be a Game Changer. Here’s How. by Lisa Friedman—The New York Times

Economists’ Statement on Carbon Dividends; The Largest Public Statement of Economists in History—Climate Leadership Council

Why We Don't Have a Carbon Tax by Paul Krugman—The New York Times

Lean Startup and the Business Model: Experimentation Revisited by Teppo Felin, Alfonso Gambardella, Scott Stern, and Todd Zenger

Related Episodes

158: How To Invest Like A Cockroach

236: How Investors Cope With Radical Uncertainty

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We analyze two listeners' portfolios. One who is close to retirement and considering hiring an outside money manager. The second is 45 and just sold a business and is trying to decide whether to fire Schwab's robo-advisor service and manage his portfolio on his own.

Topics covered include:

• What elements are part of a financial plan
• What to consider when researching an investment advisor
• What is a core-satellite investment approach
• Why Schwab was fined $180 million for misleading its clients about the cash balance in its Intelligent Portfolios service
• How to decide if an investment advisor is a good fit
• Why no portfolio can be on autopilot, but they can be as simple as two ETFs

For more information on this episode click here.

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Show Notes

Schwab Subsidiaries Misled Robo-Adviser Clients about Absence of Hidden Fees—SEC

Cease-And-Desist Order Against Charles Schwab & Co, June 13, 2022—SEC

Related Episodes

92: What Robo-Advisors Recommend

248: How to Avoid Investment Fraud

303: How To Do Financial Planning

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This episode edits and remasters two earlier episodes on investing based on cycles to focus on timeless investing principles.

Topics covered include:

• What are different types of cycles
• Why do cycles have subjective start and end dates.
• Why do coincidences happen so often.
• How to position investment portfolios based on cycles.
• How luck and skill play a role in investing.
• Why it is better to invest based on calibrating risk rather than prediction.

For more information on this episode click here.

Show Notes

Weiss Research

Weiss Research SEC Action

Foundation For The Study of Cycles

Fluke: The Math and Myth of Coincidence by Joseph Mazur

A Spectral Analysis of World GDP Dynamics – Andrey V. Korotayev and Sergey V. Tsirel

Howard Marks – Yet Gain?

Mastering The Market Cycle by Howard Marks

Related Episodes

173: Should You Invest Based On Cycles

224: Mastering the Market Cycle – Howard Marks

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Why it is challenging to distinguish a legitimate multi-level marketing company from a pyramid scheme as hedge fund billionaire Bill Ackman found out in his losing campaign against Herbalife. How Forsage has taken pyramid and Ponzi schemes to a whole new level, and why the regulators can't shut it down.

Topics covered include:

• What are multi-level marketing companies and how most MLM distributors are unsuccessful
• What is the difference between a pyramid scheme and a Ponzi scheme and what are some examples
• How hedge fund Pershing Square Capital Management took on Herbalife and despite FTC and SEC actions, Herbalife continues to thrive.
• Why Forsage, a pyramid and Ponzi scheme on the blockchain, continues, despite SEC regulatory actions
• Why Bitcoin isn't a Ponzi scheme

For more information on this episode click here.

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Money For the Rest of Us Plus

Show Notes

Herbalife Settlement With F.T.C. Ends Billionaires’ Battle by Matthew Goldstein and Alexandra Stevenson—The New York Times

Multi-Level Marketing Businesses and Pyramid Schemes—Federal Trade Commission

Herbalife International Settlement Complaint

Herbalife Settles With S.E.C., but Too Late for Hedge Fund Investor by Matthew Goldstein—The New York Times

Consistency is Key! Make Money Podcasting by Elsie Escobar—Libsyn

November Stats From Rob Walch—Podcast Business Journal

Federal Trade Commission Returns More Than $149 Million To Consumers Harmed by AdvoCare Pyramid Scheme—Federal Trade Commission

Federal Trade Commission Returns More Than $23 Million To Consumers Deceived by Online Business Coaching Scheme MOBE—Federal Trade Commission

FTC Shuts Down Credit Repair Pyramid Scheme Financial Education Services, Which Bilked More Than $213 Million from Consumers—Federal Trade Commission

Investor Alert: Ponzi Schemes Using Virtual Currencies—U.S. Securities and Exchange Commission

What is Forsage?—Forsage Support

Related Episodes

248: How to Avoid Investment Fraud

253: Are IPOs the New Ponzi Scheme?

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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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Real Vision

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.

Sponsors

Policygenius

Money For the Rest of Us Plus

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.