Talking Real Money - Investing Talk

A Wild Ride


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Wild market swings, political chaos, and investor confusion set the stage for this episode. Don and Tom break down the emotional impact of volatility, the myths of market timing, and the wisdom in sticking to long-term plans. With insights from Jason Zweig and some smart listener Q&A, they remind us that discipline—not prediction—is what builds wealth, even in uncertain times.

  • 0:01 Intro with the 'interesting times' curse and the current market confusion
  • 0:48 S&P 500 drops 10.5% in two days, bounces back 9.5%—market whiplash
  • 1:33 How volatility overloads the brain and leads to bad decisions
  • 2:28 Few people understand tariffs—uncertainty drives market instability
  • 3:24 The idea of the market as a fourth branch of government
  • 3:38 Why owning stocks long-term still makes sense
  • 5:03 Investor panic: emotional decisions vs. rational plans
  • 6:27 Jason Zweig's four questions for investors—clarity through chaos
  • 8:13 Why you own stocks: not trade stability, but long-term growth
  • 9:08 What's changed? Trust, tariffs, and long-term resilience
  • 10:27 You earn the premium by enduring market fear
  • 10:31 The emotional trap of anchoring and chasing returns
  • 11:44 The fantasy of upside-only investing—and the danger of chasing it
  • 13:04 Caller Jeff: Should I dollar-cost into ETFs or sell and buy all at once?
  • 14:27 Advice: In a retirement account, just make the shift—it’s lateral
  • 16:04 Caller Bill: Accidental portfolio drift and how to rebalance to 50/50
  • 19:05 Simple ETF plan vs. target-date funds for retiring investors
  • 20:37 Caller Joe: Real estate success and why stocks aren’t for everyone
  • 27:09 The overlooked danger of foreign countries selling U.S. debt
  • 30:24 Bond prices, interest rates, and currency impacts explained
  • 32:04 U.S. credit rating vs. the world—and why diversification still matters
  • 33:28 Tariff risks, political uncertainty, and long-term investing perspective
  • 35:25 If you’ve invested right, you don’t need to react
  • 39:04 Tom’s "work trip" vacation and Don flying solo next week

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    Talking Real Money - Investing TalkBy Don McDonald

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