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 542 episodes available.

Money For the Rest of Us episodes:

May 21, 2025No More AAA - What the U.S. Debt Downgrade Means for Investors
With longer-term U.S. interest rates rising and no plan to reduce the budget deficit, is a U.S. national debt crisis imminent?
Topics covered include:
Why S&P, Fitch, and now Moody's stripped the U.S. of its pristine AAA debt rating
How the U.S. national debt dynamics compare to Greece, Italy, and Japan
What are four things investors should monitor for signs that the national debt crisis is worsening or spiraling out of control

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Show Notes
Moody's Ratings downgrades United States ratings to Aa1 from Aaa; changes outlook to stable—Moody's Ratings
Research Update: United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative—S&P Global
Interest Expense and Average Interest Rates on the National Debt FY 2010 – FYTD 2025—FiscalData.Treasury.gov
The Stark Math on the GOP Tax Plan: It Doesn’t Cut the Deficit by Richard Rubin—The Wall Street Journal
The Long-Term Budget Outlook: 2025 to 2055—Congressional Budget Office
Walmart says higher prices could hit this month due to tariffs by Natalie Sherman—BBC
Post on May 17th, 2025; 7:27 AM by Donald J. Trump—Truth Social
Walmart responds to Trump comment that retailer should ‘eat the tariffs’ by Kyler Swaim—The Hill
What’s behind Japan’s High Government Debt? by YiLi Chien and Ashley H. Stewart—Federal Reserve Bank of St. Louis
Related Episodes
487: Are We Heading for a 2030s Depression? Global Economic and Population Shifts
479: National Debt Master Class Finale – What To Do

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25min
May 14, 2025Facing a Financial Squeeze: What Harvard’s Response Can Teach the Rest of Us
How can we apply the same emergency measures that Harvard and other universities are using to navigate a financial crisis? Also, how universities invest their endowments and what their performance has been.
Topics covered include:
What has led to the financial crisis at Harvard
What actions has the university taken
How do endowments invest and spend their funds
How endowments maintain intergenerational equity
How we can apply the principles universities use in our own investing

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Show Notes
Letter Sent to Harvard 2025-04-11—Harvard
Harvard Response 2025-04-14—Harvard
Trump Administration Will Freeze $2 Billion After Harvard Refuses Demands by Vimal Patel—The New York Times
Should Harvard Be Tax Exempt? by The Editorial Board—The Wall Street Journal
Fact Sheet: President Donald J. Trump Reforms Accreditation to Strengthen Higher Education—The White House
At Grim Town Hall, Harvard Medical School Leaders Tell Staff to Expect Layoffs and Far-Reaching Cuts by Avani B. Rai and Saketh Sundar—The Harvard Crimson
Can Harvard Use Its Endowment To Make Up For Federal Cuts? It’s Possible, but Not That Simple. by Avani B. Rai and Saketh Sundar—The Harvard Crimson
Yale Weighs $850 Million Bond Sale Amid Trump’s Higher Education Attack by Elizabeth Rembert and Amanda Albright—Bloomberg
Yale seeks to sell billions in private equity investments as political pressures from Trump mount by Liese Klein—CT Insider
2024 NACUBO-Commonfund Study of Endowments—NACUBO
Endowments Face Liquidity Crunch Amid Market Pullback, Funding Cuts by Matt Toledo—Chief Investment Officer
Big investors borrow against private equity holdings amid cash crunch by Amelia Pollard and Antoine Gara—The Financial Times
Related Episodes
402: Why Student Debt Is So High and Forgiving It Doesn’t Fix the Problem
245: Is College Worth It?
180: Can You Outperform Harvard’s Endowment?
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26min
May 07, 2025 Why Bond Investing Is Easier Than Ever
Discover how bond market ETFs have transformed investing — making bonds easier, cheaper, and more accessible than ever. We also explore how the bond market’s very composition has evolved.
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Show Notes
The total return strategy in bonds is far from dead by James Bianco—The Financial Times
What I Learned in My First Year Managing Fixed-Income by Jim Bianco—Bianco Research Advisors
ETFs are eating the bond market by Robin Wigglesworth and Will Schmitt—The Financial Times
Related Episodes
463: How to Lock in Higher Yields in Case Interest Rates Fall
455: Easier Investing, Richer Life: TIPS Ladders to Annuities
418: Bond Investing Masterclass

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27min
April 30, 2025 Investing in Emerging Markets with Ali Akay
Ali Akay, CIO of Carrhae Capital, answers why invest in emerging markets. He also shares with Greg Dowling of FEG insights on China, Mexico, South Korea, Argentina, Greece, Turkey, South Korea, and South Africa.
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Show Notes
Emerging Unscathed: Featuring Ali Akay—FEG Insight Bridge
Related Episodes
474: Are Emerging Markets Bonds a Once-in-a-Generation Opportunity?
411: Is Emerging and Frontier Markets Investing Still Worth It? – With Asha Mehta
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35min
April 23, 2025Is the Rest of the World Selling America?
The U.S has traditionally been a safe haven for investing, but that hasn't been the case in 2025. We explore three economic and narrative regimes and consider why we may be witnessing a shift after 12 years of U.S. outperformance.
Topics covered include:
What was the narrative and economic and financial performance from 1995-2001, 2002-2012, and 2012 -2024.
How the performance of the U.S. dollar impacted returns
Why did economic forecasters predict the U.S. national debt would be paid off in 2011, and why were they wrong?
Signs that the current economic and financial narrative is shifting.

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Show Notes
Testimony of Chairman Alan Greenspan Outlook for the federal budget and implications for fiscal policy Before the Committee on the Budget, U.S. Senate January 25, 2001—The Federal Reserve Board
Federal Surplus or Deficit [-] as Percent of Gross Domestic Product—FRED Economic Data
Nonfarm Business Sector: Labor Productivity (Output per Hour) for All Workers—FRED Economic Data
Narrative Economics: How Stories Go Viral and Drive Major Economic Events by Robert J. Shiller—Princeton University Press
Donald Trump vs Mr Market by Tim Harford—The Financial Times
Tourism boycott? Europe travel to US drops in wake of Trump presidency by Talyta França & Alessio Dell'Anna, Mert Can Yilmaz—euronews
Trump’s Trade Offensive Threatens America’s Financial Primacy by Nick Timiraos, Jack Pitcher, and Chelsey Dulaney—The Wall Street Journal
Related Episodes
519: Is This the End of Globalization and Free Trade?
380: How Stories Drive Our Happiness and Financial Success
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20min
April 16, 2025Where Are We Heading?
In this episode, we explore what it means to invest in a non-ergodic world—where time, not averages, determines outcomes. We unpack concepts like volatility drag, ensemble vs. time averages, and the implications for portfolio strategy, while also reflecting on how AI and zero-click search are reshaping business and investor behavior.
Topics covered include:
What is ergodicity and why it matters
How path dependency and emerging phenomena disrupt the long-term
How podcasting and blogging has changed
What is the future of Money for the Rest of Us

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Show Notes
Wayback Machine: jdstein.com
Probabilities and Payoffs: The Practicalities and Psychology of Expected Value by Michael J. Mauboussin and Dan Callahan, CFA—Morgan Stanley
The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb—Penguin Random House
The 60% Problem — How AI Search Is Draining Your Traffic by Tor Constantino, MBA—Forbes
Hollywood Is Cranking Out Original Movies. Audiences Aren’t Showing Up. by Ben Fritz—The Wall Street Journal
How Late Night TV Is Downsizing by Alex Weprin and Rick Porter—The Hollywood Reporter
‘Severance’ Surpasses ‘Ted Lasso’ To Become Apple TV+’s Most Watched Series With Season 2 Launch by Nellie Andreeva—Deadline
List of most watched television broadcasts in the United States—Wikipedia
Tao te Ching by Lao Tzu (Author), Marc Mullinax (Translator)—fortress press
Why AI Might Not Take All Our Jobs—If We Act Quickly by Justin Lahart—The Wall Street Journal
Elon Musk and the Dangerous Myth of Omnigenius by Gautam Mukunda—Bloomberg
Related Episodes
492: The Power of Optionality: Small Bets, Big Payoffs
484: 7 Steps to Living a Longer Life
482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

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27min
April 09, 2025Is This the End of Globalization and Free Trade?
What will the impact be now that the U.S. has one of the highest tariff rates in the world?
Topics covered include:
Why the Trump administration raised tariffs
How the last round of U.S. tariffs led to higher prices and lower economic growth
Four ways the world remains close to record connectivity
Who have been the winners and losers from global trade
What will be the impact of this trade war

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Show Notes
The economic consequences of Mr Trump – looking for clarity in the tariffs chaos by Neil Shearing—Capital Economics
Tariff rate, most favored nation, simple mean, all products (%)—World Bank Group
Donald Trump’s tariffs will fix a broken system by Peter Navarro—The Financial Times
DHL Global Connectedness Tracker—DHL
Objective Knowledge: An Evolutionary Approach by Karl R. Popper—Oxford University Press
GDP per capita (constant 2015 US$)—World Bank Group
JOSEPH E. STIGLITZ, GLOBALIZATION AND ITS DISCONTENTS REVISITED: ANTI-GLOBALIZATION IN THE ERA OF TRUMP, NEW YORK: W.W. NORTON & COMPANY, 2018 by Lino Sau—Annals of the Fondazione Luigi Einaudi
FIFTY YEARS OF GROWTH IN AMERICAN CONSUMPTION, INCOME, AND
WAGES by Bruce Sacerdote—National Bureau of Economic Research
Real Median Household Income in the United States—FRED
Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over—FRED
Consumer Price Index for All Urban Consumers: Food in U.S. City Average/Median Household Income in the United States—FRED
Trump’s Love for Tariffs Began in Japan’s ’80s Boom By Jim Tankersley and Mark Landler—The New York Times
Related Episodes
515: Tariffs and the Mar-a-Lago Accord: What Trump Really Wants
516: What Trump Wants Part 2 – How Trade Deficits and Capital Flows Can Harm or Help Countries
427: Did the Tariffs Work? The Trade War Five Years Later
212: Trade Wars Increase Prices and Poverty

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22min
April 02, 2025Is It Too Late to Invest in Gold? with Max Belmont - FEG Insight Bridge
Greg Dowling of FEG interviews Max Belmont, a gold specialist and portfolio manager at First Eagle Investments. Greg and Max discuss the historical, philosophical, and practical reasons for owning gold.
Topics covered include:
Where does gold’s reputation as a safe haven come from, and why it trades differently than other commodities.
How gold differs from other asset classes including Bitcoin, which is sometimes referred to as digital gold.
How we should think about gold when including it in our investment portfolios.

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Show Notes
The Golden Age with Max Belmont - FEG Insight Bridge episode page
Related Episodes
431: The Long-term Bullish Case for Gold
316: Paper, Rocks, or Digits—What Makes the Best Money
263: Should You Invest In Gold?
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39min
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

FAQs about Money For the Rest of Us:

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

The podcast currently has 542 episodes available.

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