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The Investing for Beginners Podcast - Your Path to Financial Freedom episodes
- How to Get 9% Returns with Half the Market Volatility
Mainstream financial media tells investors that the only way to build long-term wealth is to throw 100% of their money into index funds and hold on for dear life. But when the market crashes and portfolios get cut in half, human psychology kicks in, and retail investors almost always panic-sell at the exact wrong time. In this episode, Stephen sits down with contrarian market veteran Jared Dillian to dissect the psychological flaws of traditional indexing and break down the "Awesome Portfolio"—a stress-free, 5-asset allocation strategy designed to deliver near-market returns with a fraction of the drawdowns.
What You Will Learn
The Indexing Trap: Why holding an S&P 500 index fund exposes your entire net worth to crippling 50% drawdowns (and why most humans can't handle it).
The Finnish IQ Study: How military data from Finland proves that "smarter" investors outperform the market simply through disciplined market timing and risk control.
The "Giffen Good" Paradox: Why investors irrationally hate cheap assets (like 5% yielding bonds) but blindly pile into expensive, over-hyped tech stocks.
The 20% Cash Rule: Why holding cash isn't just a safety net—it’s ultimate liquidity for buying distressed assets and capitalizing on rare life opportunities.
Why Crypto Kills Compounding: Why keeping volatile assets like Bitcoin out of your core portfolio protects your Sharpe ratio and prevents emotional checking.
Timestamps
00:01:21 The evolution of market mechanics: From trading fractions on the open-outcry floor to AI algorithms.
00:03:50 Comparing the current AI boom to the 2000 Dot-com bubble (and why today's tech stocks are fundamentally different).
00:04:49 The Bond Market Disconnect: Why investors are ignoring risk-free 5% yields.
00:10:24 The Finnish IQ Study: What administrative data teaches us about market timing and cognitive discipline.
00:12:18 Jared’s Lehman Brothers backstory and surviving a 50% net-worth wipeout in 2008.
00:14:40 Deconstructing the "Awesome Portfolio": VTI, BND, IAU, TBIL, and VNQ.
00:16:34 Why Bitcoin and cryptocurrency are excluded to preserve portfolio peace of mind.
00:19:32 The 3 reasons you must hold cash: Volatility smoothing, 5% yields, and pure optionality.
00:24:15 Breaking the Boglehead Orthodoxy: Why the "all-stocks, all the time" strategy is a behavioral trap.
00:32:08 Debunking extreme personal finance: Why The Millionaire Next Door and Rich Dad Poor Dad give dangerous advice.
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
40 min - Dissecting Capital One, Netflix, and Wall Street's Favorite Metrics
It’s tempting to fire up a stock screener, sort by top-line revenue growth, and assume you’ve just uncovered a goldmine of breakout stocks. But when a legacy credit card company suddenly posts triple-digit growth, it’s rarely an economic miracle—it’s an accounting illusion. In this episode, we run a live revenue breakout screen to show exactly how Wall Street numbers lie, why corporate acquisitions distort financial data, and how to protect your capital from manufactured hype.
What You Will Learn
Why record revenue is a trap: How Capital One’s sudden 102% growth rate exposes the danger of using unadjusted, raw stock screeners.
The M&A growth illusion: Why buying a competitor (like the Discover acquisition) temporarily breaks year-over-year financial comparisons and tricks retail investors.
The Forward P/E warning sign: Why Netflix looks cheap based on past earnings but expensive when you factor in Wall Street's expectation of shrinking margins.
The "Dictator CEO" red flag: How to use proxy statements to spot concentrated voting power and shareholder lawsuits, using AppLovin as the prime example.
Ignoring the macro noise: Why trying to time market tops using bank stocks (Morgan Stanley, BlackRock) is a losing game for long-term investors.
Timestamps
00:01:59 The Revenue Breakout Screen: Filtering for 1-year growth beating 3- and 5-year averages
00:05:08 The Capital One (COF) Illusion: Why a 102% growth rate isn't what it seems
00:08:15 Bank Stocks and Macro Narratives: Can we predict the economy using Citigroup or Bank of America?
00:18:40 Unpacking Capital One’s acquisition of Discover and how buyouts skew financial metrics
00:24:42 The AppLovin (APP) dilemma: High growth vs. extreme executive control and shareholder lawsuits
00:35:35 Netflix (NFLX) and Valuation: Using Forward P/E to predict shrinking profit margins
00:37:00 Founder Departures: Why a CEO stepping down isn't always a reason to panic
00:43:00 Morgan Stanley & BlackRock: Do booming investment banks signal a market top?
00:48:10 Tuning out the media: Why long-term investors must ignore macroeconomic fear-mongering
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
50 min - AAR64 - The Personal Finance Time Machine
What advice would you give your 22-year-old self if you found a DeLorean in your driveway? In this episode of At Any Rate, Evan and Andrew look back at their early 20s to unpack what actually matters when transitioning from school into the real world.
From managing the overwhelming urge to hit every financial milestone at once, to unlocking the true power of compound interest and dismantling the exhausting trend of "over-optimizing" every area of life, the guys share honest reflections on money, career expectations, and building habits that actually last.
What You Will Learn
Overcoming Milestone Anxiety: Why rushing to buy a house, pay off all debt, and max out accounts simultaneously leads to early burnout.
The "Sunday Reset" & Habit Design: How intentionally setting smaller, manageable goals builds long-term consistency over short-term intensity.
Demystifying Stock Market Hype: Why building wealth doesn't require a master's degree in math or chasing viral social media trends.
The Power of Compound Interest: Why visual charts and compound calculators are the ultimate tools for early-20s financial motivation.
Reframing Retirement: How investing in a Roth IRA or 401(k) at age 22 builds the exact mindset required to generate active wealth.
Un-Optimizing Life: Why constant social media optimization ruins the enjoyment of fitness, hobbies, and personal finance.
Timestamps
0:00 – Advice to Our 22-Year-Old Selves
4:38 – Personal Finance: Overcoming Early-20s Impatience & The Milestones Trap
11:32 – Managing Burnout: The Sunday Reset & Setting Realistic Financial "Whys"
18:53 – Investing: Demystifying Stock Picking & Visualizing Compound Growth
22:15 – Core Reading List: The Millionaire Next Door, Psychology of Money, Atomic Habits
29:15 – Retirement: Reframing 401(k)s, Roth IRAs & Funding Your "Future Self"
35:48 – Habit Consistency: Using a "Margin of Safety" to Prevent Burnout
40:37 – Career: Managing Salary Expectations & The Compounding Value of Work Ethic
45:44 – What We Wouldn't Listen To: Over-Optimization Fatigue & "Eating Humble Pie"
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: [email protected]
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 1 min - AI, Space, and Defense: Separating Hype from True Moats
Wall Street loves a good sci-fi narrative. Between artificial intelligence, private space exploration, and next-generation defense tech, it is incredibly easy to get swept up in the stories these companies sell. But stories don’t pay dividends, and media hype doesn't fund capital expenditures. In this episode, Andrew and Stephen put the market's most futuristic sectors to the test, tier-ranking individual stocks based on fundamental safety, capital efficiency, and realistic valuations rather than promises of a utopian future.
What You Will Learn
The AI "Too Hard" Pile: Why highly anticipated IPOs like OpenAI and Anthropic are currently uninvestable traps for value seekers.
The $1.4 Trillion SpaceX Dilemma: Why possessing an absolute monopoly in space still doesn't justify a blind, hype-driven IPO purchase.
Why General Dynamics dominates the battlefield: The hidden technological innovations (like multi-tier targeting and anti-friendly-fire HUDs) that cement GD as a government necessity.
The Danger of Private Military Contractors (PMCs): Why Palantir (PLTR) was completely disqualified from the defense contractor rankings.
The ROIC Defense Test: Why Lockheed Martin’s pure capital efficiency completely outclasses acquisition-heavy competitors like RTX and L3Harris.
Timestamps
00:00:00 Tier ranking the market's most hyped sectors
00:05:01 AI Rankings: Semiconductors vs. Hyperscalers (TSMC, ASML, Big Tech)
00:15:24 The Google Debate: Why GOOGL offers the ultimate margin of safety in AI
00:24:48 The Billionaire's Secret: Saying "no" to hype and avoiding IPO traps
00:33:41 The Space Sector: Why defense giants offer a safer route than pure-play space stocks
00:38:15 SpaceX's Moat: Evaluating Elon Musk's ambitious $100B revenue run-rate goal
00:47:20 Defense Sector Rankings: Disqualifying Palantir and putting Boeing in the "too hard" pile
00:54:20 Capital Efficiency: Breaking down ROIC across the major defense contractors
00:58:05 Final Rankings: General Dynamics vs. Northrop Grumman vs. Lockheed Martin
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
1 hr 9 min - The Psychology of Position Sizing
Every investor lives with two competing internal voices: the hyper-optimist who wants to go all-in on an exciting growth story, and the hyper-skeptic who gets paralyzed by uncertainty or cut positions at the first sign of discomfort. Managing these emotional extremes isn't just about discipline—it requires a practical, repeatable framework to audit your portfolio without letting fear or greed make the call. In this episode, Stephen and Andrew break down how to take your emotional temperature, navigate the trap of portfolio indifference, and build systematic guardrails before market volatility makes the decision for you.
What You Will Learn
The "24-Hour Rule" for new ideas: Why forcing a mandatory cooling-off period stops shiny object syndrome from ruining your capital allocation.
Fantasizing vs. Real-World Probability: How to spot the exact moment you start reverse-engineering excuses to sell proven winners for an unproven stock.
The Danger of Portfolio Indifference: Why being completely emotionless can blind you to compounding multi-bagger potential (and make you cut winners too early).
The "Coffee Can Portfolio" Paradox: How doing absolutely nothing frequently outperforms active portfolio management and market timing.
Building a Proactive Monthly Audit: Why writing down a simple pros-and-cons framework eliminates reactive, panic-driven trades.
Timestamps
00:00:00 Managing the two emotional extremes of investing: Over-hyped vs. Hesitant
00:05:36 The "24-Hour Rule": Stopping shiny object syndrome before buying
00:06:45 Recognizing internal red flags: Portfolio fantasizing and premature trimming
00:11:05 Managing stagnant holdings: The Crocs (CROX) & HeyDude acquisition case study
00:15:03 The power of inversion: Finding counter-arguments for stuck or flat positions
00:22:30 The "Coffee Can Portfolio" concept: Why inaction beats active churning
00:26:00 Building a proactive monthly audit checklist to eliminate reactive trades
00:29:40 The hidden risk of total indifference: How cold logic can cut a 100-bagger short
00:37:30 De-pumping hype: Filtering social media excitement vs. fundamental growth
00:40:35 The power of writing it down: Recording thesis notes to audit emotional decisions
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
43 min - AAR63 - The Bottom Hits - What Most People Miss in Their Finances
We all know the "top hits" of personal finance, but what about the silent wealth killers? In this episode of At Any Rate, Evan and Andrew break down six common financial traps that are incredibly easy to fall into, regardless of your income.
From the dangers of letting your budget rot and relying on sheer willpower, to the sneaky reality of lifestyle creep and the false economy of "buying cheap," the guys unpack the behavioral blind spots holding you back. Plus, Evan shares a recent auto-pay scare that proves why you can never fully take your eyes off your checking account.
What You Will Learn
Budget Stagnation: Why your internal "rule of thumb" for prices is probably lying to you due to inflation, and why you need to adjust your budget 1-2 times a year.
The Stagnant Money Trap: Why keeping all your cash in a single checking account is not only costing you interest, but actively encouraging you to overspend.
The 60/40 Raise Rule: A simple framework for enjoying a salary bump without falling victim to lifestyle creep.
Beating Decision Fatigue: Why relying on financial willpower is a losing game, and how to automate your savings out of sight.
The Sinking Fund Solution: How to use dedicated savings buckets (like SoFi Vaults) to cover unexpected credit card spikes without draining your checking account.
Frugal vs. Frivolous: Why spending up for quality is often cheaper in the long run than buying bargain-bin items that break.
Timestamps
0:00 – The Concept of "Bottom Hits"
3:23 – Trap 1: Not Adjusting Over Time (Why mental budgets fail against inflation)
10:04 – How Andrew manages shifting budgets as a self-employed business owner
12:59 – Trap 2: Keeping Money Stagnant in One Place (The checking account trap)
15:55 – Using HYSAs and "Vaults" to protect your money from yourself
21:43 – Trap 3: Not Paying Enough Attention (Evan's IRS auto-pay scare)
26:18 – How sinking funds can save you from credit card statement shock
32:44 – Trap 4: Earn More, Spend More (Combating Lifestyle Creep)
35:58 – Evan's 60/40 Rule for raises, bonuses, and found money
38:40 – Trap 5: Relying on Willpower (Decision fatigue and self-sabotage)
44:06 – The Cash Envelope System vs. Digital Automation
48:30 – Trap 6: Buying Cheap to Save Money (The false economy of cheap goods)
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: [email protected]
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
56 min - The Earnings Illusion: How Working Capital Exposes Cash-Burning Companies
A company can post record net income on paper while silently draining its checking account to zero. Mainstream financial media fixates on Wall Street's favorite metric—Earnings Per Share (EPS)—but the true operational health of a business lies in its day-to-day cash flow engine. In this episode, Stephen and Andrew break down the mechanics of Changes in Working Capital to expose how inventory bloat, uncollected revenue, and stretched supplier payments can turn an apparent growth story into a dangerous value trap.
What You Will Learn
Why record earnings can be a lie: How accrual accounting allows cash-starved companies to look highly profitable on paper.
The $10.5 billion OpenAI paper trail: What Microsoft’s explosive Accounts Receivable growth reveals about customer concentration and credit risk.
Why Nike almost choked on its own success: How rapid sales expansion can trap millions in inventory and suffocate operating cash flow.
The Chipotle cash hack: How industry giants turn Accounts Payable into interest-free growth capital.
The 3-step Working Capital Checklist: How to instantly audit a company’s operational efficiency in under five minutes.
Timestamps
00:00:00 Why net income lies and cash flow tells the truth
00:00:43 What is Working Capital? The 30,000-foot checking account analogy
00:03:18 Bucket 1: Accounts Receivable (AR) & customer default risks
00:04:31 Case Study: Microsoft vs. OpenAI ($4B to $10.5B AR explosion)
00:07:22 Case Study: Caterpillar (CAT) & multi-year project revenue recognition
00:11:52 Bucket 2: Inventory bloat & the Target / Walmart post-COVID crash
00:16:12 Understanding the "Breathe In, Breathe Out" working capital cycle
00:20:28 Bucket 3: Accounts Payable (AP) & Chipotle’s supplier power dynamics
00:24:57 Vendor financing: How market leaders get suppliers to fund their expansion
00:29:58 Case Study: Phil Knight’s Shoe Dog & how fast growth can bankrupt a brand
00:30:36 Hidden Gems: How McKesson and Costco generate negative working capital
00:35:12 Warning Signs: How to spot cash burn masked by aggressive growth stories
00:40:38 The 3-Step Investor Checklist: Normalizing Free Cash Flow over 3–10 years
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
50 min - Accidental Indexing: Why Owning Too Many Stocks Destroys Returns
Most retail investors spend endless hours hunting for the next breakout stock, only to ruin their returns by spreading their capital across dozens of minor positions. Buying too many stocks creates an "accidental index fund," while placing tiny bets on multi-bagger winners renders those gains completely meaningless to your net worth. In this episode, Stephen and Andrew break down the mechanics of position sizing, the danger of chasing speculative moonshots early in your investing journey, and how to construct a focused 10-to-15 stock portfolio built for long-term wealth.
What You Will Learn
The Accidental Index Fund Trap: Why owning 30+ stocks silently dilutes your best stock-picking edge down to benchmark market returns.
The Math Behind Position Sizing: How a 25-stock portfolio caps your portfolio's upside—even when one of your picks doubles.
Risk-Aversion for Beginners: Why new investors with smaller portfolios should focus on conservative compounders before taking high-risk swings.
Evaluating the "Patent Cliff": How analyzing business mechanics (like Zoetis' generic drug competition) reveals when to build or trim position sizes.
Concentration vs. Over-Diversification: How structuring a core portfolio of 10 to 15 high-conviction holdings balances safety with life-changing outperformance.
Timestamps
00:01:14 Introduction: The psychological trap of buying "just a few more shares"
00:02:40 The "Costco Regret": Why tiny position sizes make big winners inconsequential
00:06:00 Caterpillar (CAT) Case Study: Balancing conservative moats with innovation upside
00:11:50 Speculative Tech vs. Capital Preservation: The "Beta Technologies" case study
00:15:15 Why beginners should remain risk-averse until reaching critical portfolio scale
00:20:20 Portfolio Construction: Transitioning from lump-sum allocation to 10–15 core holdings
00:25:05 Managing bad news: How to handle temporary headlines vs. structural thesis breaks
00:28:45 The Math of Over-Diversification: Why 25+ stock portfolios cap your wealth creation
00:32:00 Zoetis (ZTS) Case Study: Navigating patent cliffs and loading up on quality dips
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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 [email protected]
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
44 min - AAR62 - Homeownership Progress Update
It has officially been one year since Evan and his wife purchased their first home at 27 years old. In this solo episode of At Any Rate, Evan takes a transparent look at how the finances, lifestyle changes, and hidden expenses have actually played out over the past 12 months.
From navigating Florida's home insurance landscape and new-build tax perks to dealing with $2,200 shower door quotes and managing property tax reassessments, this episode breaks down what went according to plan, what came out cheaper than expected, and what unexpected mental loads every homeowner should prepare for.
What You Will Learn
The 55/45 Housing Rule: Why your fixed mortgage payment is only roughly half of your actual monthly housing outlay.
The Unimproved Land Tax Perk: How buying a new build creates a temporary tax grace period—and how to use a High-Yield Savings Account (HYSA) to prepare for the reassessment lump sum.
New Build vs. Existing Home Insurance: Why modern hurricane codes, double-pane windows, and attic insulation can save you thousands on annual insurance and utility bills.
The 11-Month Warranty Inspection: The essential step every new-construction owner must take before their builder warranty expires.
Managing Upgrade Price Volatility: How to budget for unpredictable contractor quotes, from lanai screening to garage floor epoxy.
Avoiding the "House Poor" Trap: Why line-item spreadsheet budgeting is a mandatory tool for tracking variable overhead stack.
Timestamps
0:00 – Year Homeownership Update
1:04 – Reflections on First-Time Homeownership at 27 & The Purpose of Building Wealth
3:29 – Location, Square Footage & The Lifestyle Value of Personal Space
7:52 – First-Year Home Upgrades: Lanai Screening, Epoxy Floors & EV Charger Setup
11:30 – The 11-Month Builder Warranty Inspection: Catching Issues Before Expiration
14:12 – The Purchasing Process & Working with Lenders vs. Sales Agents
17:56 – Mortgage Reality: Fixed Payments vs. Variable Monthly Expenses
19:28 – The "Unimproved Land" Tax Effect & Receiving an Escrow Refund
20:48 – Home Insurance in Florida: Code Upgrades, Wind Mitigation & Flood Insurance
24:29 – Energy & Utility Efficiency: double-pane Windows & Insulation Savings
25:45 – The Shift from Renting to Managing Multiple Expense Line Items
28:34 – Mental Load & Tracking Moving Parts to Avoid Becoming "House Poor"
32:04 – Home Upgrade Volatility: $2,200 Shower Doors vs. $1,200 Screened Lanais
33:44 – Emotional Overhead: Hurricane Preparedness & Lack of Historical Lot Data
37:04 – Florida Property Tax Reassessments: Homestead Exemption & The HYSA Strategy
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: [email protected]
Have questions or want your story featured? Email the show at [email protected] 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.
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46 min - Why Your Brain is Sabotaging Your Portfolio
The stock market isn't just a platform for building wealth; it is a real-time stress test of human psychology. When headlines scream panic and portfolios bleed red, our innate cognitive biases trigger emotional reflexes that push us toward destructive mistakes like compulsive trading and holding onto losers. In this episode, Stephen and Andrew break down the mental traps that destroy returns and provide the systematic guardrails needed to protect your capital from yourself.
What You Will Learn
The Salience Bias Trap: Why reacting to the loudest financial headlines (like the hyped SpaceX IPO) almost always leads to poor capital allocation.
Breaking the Action Bias: How the urge to "do something" out of boredom turns long-term investing into a destructive game of Whack-a-Mole.
Defeating Confirmation Bias via Inversion: Why successful investors actively seek out three reasons their thesis is wrong instead of looking for validating echoes.
Escaping the Sunk Cost Fallacy: Why a stock doesn't care what you paid for it, and how evaluating alternative opportunity costs frees up trapped capital.
Curing Recency Bias by Zooming Out: How analyzing industry-wide generational cycles prevents knee-jerk reactions to last quarter's earnings reports.
Timestamps
00:00 Introduction: The psychological stress test of market volatility
00:41 Identifying personal biases: Andrew’s "Anchoring" vs. Stephen’s "Action" bias
05:29 Salience Bias: Ignoring loud media headlines and social media algorithm noise
14:57 Anchoring Bias: Why reverse-engineering a thesis destroys returns
21:28 Action Bias: The danger of "running in place" and trading out of boredom
27:42 Confirmation Bias: Using inversion and the "3 reasons you're wrong" rule
32:58 Sunk Cost Fallacy: Evaluating opportunity cost and building an exit thesis
43:10 Recency Bias: Zooming out 50–100 years to understand long-term cycles
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at [email protected] 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.
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58 min
About The Investing for Beginners Podcast - Your Path to Financial Freedom
From the publisher's feed
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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