Money For the Rest of Us

By J. David Stein

A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager

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FAQs about Money For the Rest of Us:

How many episodes does Money For the Rest of Us have?

The podcast currently has 534 episodes available.

Money For the Rest of Us episodes:

March 26, 2025 Should You Investment 100% of Your Retirement in Closed-End Funds?
We compare three approaches to closed-end fund investing: Opportunistic trading, the buy and hold income factory, and a systematic approach of selling closed-end funds after 5% gains.
We also explore the pros and cons of closed-end funds relative to open-end mutual funds and ETFs.
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Show Notes
The Closed-End Fund Market, 2023—Investment Company Institute
The Income Factory: An Investor’s Guide to Consistent Lifetime Returns by Steven Bavaria—McGraw-Hill Companies
Retirement Money Secrets: A Financial Insider's Guide to Income Independence by Steve Selengut—RIC LLC
How to Invest in Closed-End Funds—Money for the Rest of Us
Investing in Closed-End Funds Course—Money for the Rest of Us
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25min
March 19, 2025What Trump Wants Part 2 - How Trade Deficits and Capital Flows Can Harm or Help Countries
How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier.
Topics covered include:
Two ways countries can increase their competitiveness
How savings always equals investment
Why excess savings flows to the U.S. leading to a drop in U.S. domestic savings
Why the U.S. current trade situation could lead to a debt crisis

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Show Notes
Why U.S. Debt Must Continue to Rise by Michael Pettis—Carnegie Endowment
Could Trump devalue the dollar with a "Mar-a-Lago Accord"? by Paul Diggle and Luke Bartholomew—Aberdeen Investments
A User’s Guide to Restructuring the Global Trading System by Stephen Miran—Hudson Bay Capital
Is Peter Navarro Wrong on Trade? by Michael Pettis—Carnegie Endowment
Related Episodes
515: Tariffs and the Mar-a-Lago Accord: What Trump Really Wants
470: How the Economy Really Works: Savings, Investing, Consuming and Market Distortions
144: Trade Deficits Aren’t Always Bad. Trade Wars Are.

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23min
March 12, 2025Tariffs and the Mar-a-Lago Accord: What Trump Really Wants
How the Trump administration is using tariffs as a negotiating tool to weaken the U.S. dollar and increase the global competitiveness of U.S. manufacturers.
Topics covered include:
Why U.S. stocks are falling, and recession risk is increasing
How the U.S. dollar as the reserve currency is becoming a burden on the U.S.
How the Trump administration aims to reduce its trade deficit and make it less attractive for foreign governments to own U.S. assets
What are the risks of trying to weaken the U.S. dollar

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Show Notes
Stock Market News, March 10, 2025: Nasdaq Falls 4% After Trump Doesn't Rule Out Recession by Caitlin McCabe and Krystal Hur—The Wall Street Journal
Trump Says US Economy Faces ‘Transition,’ Avoids Recession Call by María Paula Mijares Torres—Bloomberg
Is the U.S. Heading for a Recession? Here’s What the Experts Say by Caitlin McCabe—The Wall Street Journal
Mark Carney Wins Canada Liberal Contest, Will Succeed Trudeau in Days by Brian Platt and Laura Dhillon Kane—Bloomberg
Entering the Fall 2024 | Alarming Signs? - Fireside Chat with Scott Bessent by Simplify Asset Management—YouTube
A User’s Guide to Restructuring the Global Trading System by Stephen Miran—Hudson Bay Capital
Could Trump devalue the dollar with a "Mar-a-Lago Accord"? by Paul Diggle and Luke Bartholomew—Aberdeen Investments
Wonking Out: The Mysteries of the Almighty Dollar by Paul Krugman—The New York Times
On the Persistence of the China Shock by David Autor, David Dorn, and Gordon H. Hanson—NBER
Manufacturing, value added (% of GDP)—World Bank Data Group | Prosperity Data360
Council of Economic Advisors Chair Nominee Stephen Miran’s Critique of the Global Monetary System—Part I by Steven B. Kamin—AEI
Using Stock Returns to Assess the Aggregate Effect of the U.S.‑China Trade War by Mary Amiti, Matthieu Gomez, Sang Hoon Kong, and David E. Weinstein—Federal Reserve Bank of New York
Two cheers for Germany’s fiscal reform by Neil Shearing—Capital Economics
Related Episodes
404: Why Is the U.S. Dollar So Strong? Will It Continue?
322: Why Currency Exchange Rates Matter

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29min
March 05, 2025Why Japanese Stocks Could Outperform with Howard Smith - FEG Insight Bridge
This week on episode 514, we share a conversation between Howard Smith of Indus Capital and Greg Dowling of FEG Investment Advisors on why Japan could surprise investors over the next decade with strong investment returns. David introduces the episode by sharing his key takeaways from the discussion.
FEG Investment Advisor is David's former institutional advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business partner and colleague.
Topics covered in the episode include:
The false narrative that Japan is a difficult place to invest with subpar returns
Why Japan's national debt problem is not as worrisome as the U.S. national debt
Why the Japanese yen is tremendously undervalued
How Japan's corporate governance has improved
Opportunities in Japanese technology industries

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Show Notes
FEG Episode page
Indus Capital
Berkshire Hathaway 2024 Annual Letter
Related Episodes
468: Lessons from Japan’s 34 Years of Stock Market Underperformance
235: What If Home Prices Always Declined
178: Japan and the Impact of A Shrinking Population
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49min
February 26, 2025Crypto: Innovation or Insanity? Meme Coins, Hacks, and Strategic Bitcoin Reserves
We consider the incongruency of a U.S. Strategic Bitcoin Reserve, the latest crypto exchange hack, and how most participants lost money on the Trump meme coin. Given all that, we review some areas where cryptocurrency is helping individuals and businesses.
Topics Covered
What is the U.S. Strategic Petroleum Reserve
Why it makes little sense for the U.S. and individual states to create and participate in a Strategic Bitcoin Reserve
What led to the latest and largest cryptocurrency exchange hack in history
How financial and other data breaches impacted over 1 billion people last year, costing over $15 billion
How quantum computers could disrupt the security of cryptocurrency and traditional financial systems
Why most speculators lose money on meme coins
What are some current ways cryptocurrency is helping individuals and businesses achieve greater financial stability and lower costs

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Show Notes
All Information (Except Text) for S.4912 - BITCOIN Act of 2024—Congress.gov
House Bill No. 4087—Michigan Legislature
2025 South Dakota Legislature House Bill 1202—South Dakota Legislature
State of Arizona Senate SB 1025—Arizona State Legislature
Quantum computers and the Bitcoin blockchain by Itan Barmes, Bram Bosch and Olaf Haalstra—Deloitte
Bybit Hack, Crypto’s Biggest Ever, Spoils Coinbase’s SEC Victory Party by Olga Kharif, Muyao Shen, and Emily Nicolle—Bloomberg
Cost of a Data Breach Report 2024—IBM
ITRC Annual Data Breach Report—Identity Theft Resource Center
Post by @realDonaldTrump—Truth Social
Trump Meme
Early Investors in Donald Trump’s Memecoin May Have Been Tipped Off, Experts Claim by Joel Khalili—Wired
Exclusive: Trump's meme coin made nearly $100 million in trading fees, as small traders lost money by Tom Wilson and Michelle Conlin—Reuters
Memecoin scandal rocks Argentina’s Javier Milei by Ciara Nugen—The Financial Times
Tether Brings Its $140B USDT Stablecoin to Bitcoin and Lightning Networks by Krisztian Sandor—CoinDesk
Related Episodes
488: Should You Invest in an Ethereum ETF?
462: Now Should You Buy a Bitcoin ETF?
410: Is Cryptocurrency Dead?
373: Are Stablecoins Safe? Should You Own Them?

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24min
February 19, 2025Unlocking Hidden Returns: How Mortality Credits Boost Retirement Income
How using a deferred income annuity can increase retirement income compared to an immediate annuity or a bond ladder.
Topics covered include:
How immediate annuities and deferred income annuities work
What are mortality credits, and why they are a key diversifier
Examples of how mortality credits lead to a 1% to 1.5% higher annualized return over several decades
How to decide whether an annuity is right for you

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Show Notes
Post: No, really. Deferred income annuities (DIAs) are superior to SPIAs in every way by Boglehead User "GoWithTheCashFlow"—Bogleheads
Actuarial Life Table—SSA
TIPSLadder
Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement by Wade D. Pfau—Retirement Researcher
Related Episodes
464: More Ways to Lock in Higher Yields in Case Interest Rates Fall
455: Easier Investing, Richer Life: TIPS Ladders to Annuities
407: Worry-Free Retirement Investing
279: Why All Retirees Should Consider an Income Annuity
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26min
February 12, 2025What Are Sovereign Wealth Funds and Does the U.S. Need One?
The U.S. and the UK each announced they were establishing sovereign wealth funds. We explore the purposes and types of sovereign wealth funds, how they invest, and some concerns with the U.S. establishing one.
Topics covered include:
What are the four types of sovereign wealth funds, and why the U.S. doesn't fit the typical use case
How sovereign wealth funds navigate between politics and generating high returns
Why a U.S. sovereign wealth fund, depending on its size, could crowd out other investment capital, leading to lower investment returns
How the U.S. federal government already invests in its economy without a sovereign wealth fund

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Show Notes
Fact Sheet: President Donald J. Trump Orders Plan for a United States Sovereign Wealth Fund—The White House
A Plan For Establishing A United States Sovereign Wealth Fund—The White House
International Forum of Sovereign Wealth Funds
Sovereign Wealth Funds: Past, Present and Future by Salman Bahooab, Ilan Alonb, and Andrea Paltrinieria—ScienceDirect
Guardians releases 2024 Annual Report—NZ Super Fund
UK Wealth Fund Brings Government And Private Investment Together by Efraim Chalamish—Global Finance
2024 Invesco Global Sovereign Asset Management Study—Invesco
Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets—Sovereign Wealth Fund Institute
The Importance and Perspectives of Sovereign Wealth Funds in the Globalised Economy by Jan Černohorský and Kateřina Tesnerová—SHS Conferences

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20min
February 05, 2025Contrarian Investing with GMO's Ben Inker - FEG Insight Bridge
This week on episode 510, we share a conversation between Ben Inker of GMO and Greg Dowling of FEG Investment Advisors on contrarian investing, deep value stocks, and the rise of passive investing. David introduces the episode by sharing his key takeaways from the discussion.
FEG Investment Advisor is David's former institutional advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business partner and colleague.
Topics discussed in the episode include:
How experienced professionals can have a significant influence on one's career, such as the impact Jeremy Grantham and David Swenson had on Ben's career
The impact of the rise of passive investing
Investment opportunities in quality and deep-value stocks
The distinct risks of the high concentration in large-cap tech stocks

Show Notes
FEG episode page
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Related Episodes
491: The Five Layers of Investing
419: How to Make Portfolio and Asset Allocation Changes
401: Why Diversifying Your Portfolio Feels Awful
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51min
January 29, 2025How to Invest in Private Credit / Direct Lending
We explore what private credit, or direct lending, is and how to invest in it. We also show how it is similar and different from investing in leverage loans and CLOs.
Topics covered include:
Why more companies are staying private
How private credit differs from the leverage loan market
Why private credit is growing so rapidly
What are the benefits to private credit investing
What are liquid and less liquid ways to invest in private credit

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Show Notes
The Credit Markets Go Dark by Jared A. Ellias and Elisabeth de Fontenay—SSRN
The Lost Promise of Private Ordering by Cathy Hwang, Yaron Nili, and Jeremy McClane—SSRN
Investments Mentioned
VanEck BDC Income ETF (BIZD)
Barings Corporate Investors Fund (MCI)
Long Angle
Cliffwater Enhanced Lending Fund
BlackRock Private Credit Fund (BDEBT)
BondBloxx Private Credit CLO ETF (PCMM)
Virtus Seix AAA Private Credit CLO ETF (PCLO)
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27min
January 22, 2025Who Should Bear the Cost? Socialized versus Market-Based Risk Management
Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and market-based insurance.
Topics covered include:
The surprisingly large percentage of natural disaster losses that are uninsured
Why natural disaster severity is increasing
A deep dive into the complexity of the home insurance market, including state-run home insurance plans
How California has tried to update its home insurance regulations, leading to potentially greater coverage but higher premiums
How socialized insurance relieves the cost burden to consumers but can also lead to riskier behavior and adverse risk selection

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Show Notes
California wildfires: What we know about L.A.-area fires, what caused them, who is affected and more by Tim Stelloh, Marlene Lenthang, Rebecca Cohen and Phil Helsel—NBC News
Climate change is showing its claws: The world is getting hotter, resulting in severe hurricanes, thunderstorms and floods—Munich RE
Shaping the Future of Wildfire Insurance in California: New Insights from the Most Comprehensive Wildfire Risk Model in the Market by Firas Saleh—Moody's
Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire by Jean Eaglesham and Sara Randazzo—The Wall Street Journal
Commissioner Lara issues landmark regulation to expand insurance access for Californians amid growing climate risks—California Department of Insurance
California Was Already in Home-Insurance Crisis Before Los Angeles Infernos by Jean Eaglesham and Joe Flint—The Wall Street Journal
The World Is Getting Riskier. Americans Don’t Want to Pay for It. by Greg Ip—The Wall Street Journal
Reinsurers little exposed to LA fires after retreat from disaster risks by Lee Harris—The Financial Times
A Survey of Residual Market Plan Assessment and Recoupment Mechanisms by Nancy Watkins, Robert Lee, and Rehan Siddique—Milliman
Related Episodes
481: How to Navigate the Crippling Home Insurance Crisis
444: Natural Disasters: Are They Truly Increasing?
Investments Mentioned
Stone Ridge High Yield Reinsurance Risk Premium fund (SHRMX)
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24min

FAQs about Money For the Rest of Us:

How many episodes does Money For the Rest of Us have?

The podcast currently has 534 episodes available.

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