338 episodes

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. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com

Money For the Rest of Us J. David Stein

    • Investing
    • 4.5 • 1.1K Ratings

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. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com

    Meme Stocks, GameStop, Short Squeezes, and Bubbles

    Meme Stocks, GameStop, Short Squeezes, and Bubbles

    How coordinated buying by retail investors has turned the table on Wall Street. Are there signs of a market bubble?

    Topic covered include:What are meme stocksWhy GameStop's stock (GME) has soared to over $300 from $17 in less than a monthWhat are short squeezes and gamma squeezes and how they can push up a stock priceHow short-sellers including hedge funds are losing big against individual investors on the wallstreetbets subredditIs coordinated buying of options and stocks by individual investors illegal?How market flows into stocks are taking precedence over fundamental dataIs the stock market in a bubble and how does the current market environment compare to the 1999 Internet bubble and the 2006 housing bubble?


    Thanks to Truebill for sponsoring the episode

    For more information on this episode click here.

    Show Notes

    r/wallstreetbets

    FOR POSTERITY—Almost Daily Grants 1.25.21

    GameStop can’t stop going up by Jamie Powell—Financial Times

    Reddit: bull attack by Jamie Powell and Philip Stafford—Financial Times

    How WallStreetBets Pushed GameStop Shares to the Moon by Brandon Kochkodin—Bloomberg

    Submit Your Pick for the Next Meme Stock Here posted by u/AssPowers 2/18/20—r/wallstreetbets

    17 CFR § 240.10b-5 - Employment of manipulative and deceptive devices.—Legal Information Institute

    How'd You Guys Manage to Win so Big it Made These Old Guys Drown in Their Tears? posted by u/bawse 1/24/21—r/wallstreetbets

    Five Things You Need to Know to Start Your Day by Cormac Mullen and Tracy Alloway—Bloomberg

    Tweet by Paul Kedrosky (@pkedrosky) on 1/25/21

    Baupost’s Seth Klarman compares investors to ‘frogs in boiling water’ by Ortenca Aliaj and Eric Platt—Financial Times

    US stock rally drives ‘ludicrous index’ towards dotcom era heights by Eric Platt—Financial Times

    • 28 min
    Are You Underweight Chinese Stocks? Pros and Cons of Investing in China

    Are You Underweight Chinese Stocks? Pros and Cons of Investing in China

    Most global stock ETFs, funds and indices have only about 5% invested in China even though China has the second-largest economy in the world. What are the pros and cons of increasing your allocation to Chinese stocks.

    Topics covered include:Why has China's economy rebounded faster than other countriesWhat are Chinese A-share stocksHow large are China's economy and stock marketWhat are four threats that could derail the performance of Chinese stocksHow individuals can invest in China's stock market including A-shares


    Thanks to SmartAsset for sponsoring the episode.

    For more information on this episode click here.




    Show Notes

    Chinese shares: should you increase the amount in your portfolio? by Sam Dickens—IG Group

    China A-Shares Definition by Troy Segal—Investopedia

    China’s Economy Powers Ahead While the Rest of the World Reels by Stella Yifan Xie, Eun-Young Jeong and Mike Cherney—The Wall Street Journal

    China Still Grew and Fueled Its Rise as Covid-19 Shook the Global Economy by Jonathan Cheng—The Wall Street Journal

    With Americans Stuck at Home, Trade With China Roars Back by Ana Swanson—The New York Times

    Buffett Indicator: China Stock Market Valuations and Expected Future Returns—GuruFocus.com

    MSCI Deletions Trigger Rush to Sell Chinese Telecom Stocks by Jeanny Yu and Sofia Horta e Costa

    Executive Order on Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies—The White House

    Non-SDN Communist Chinese Military Companies List as of January 08, 2021—U.S. Department of the Treasury

    MSCI ACWI Index (USD) December 31, 2020—MSCI

    How China Lost Patience With Jack Ma, Its Loudest Billionaire by Lulu Yilun Chen and Coco Liu—Bloomberg

    China Clampdown on Big Tech Puts More Billionaires on Notice by Zheping Huang and Coco Liu—Bloomberg

    China’s College Graduates Can’t Find Jobs. The Solution: Grad School. by Vivian Wang

    • 20 min
    Is Student Loan Forgiveness A Good Idea?

    Is Student Loan Forgiveness A Good Idea?

    Should the U.S. cancel $10,000 or more of student loan debt per borrower? What would be the economic and financial impact? Why the student loan system is broken and how to fix it.

    Topics covered include:How large and what is the growth rate of U.S. student loan balancesWhat are the projections for student loan lossesWhat are the pros and cons of forgiving student loansWhat would be the impact on federal finances of canceling student loansWhy the U.S. government is already technically insolventHow student loan programs should be restructured


    Thanks to LinkedIn and Policygenius for sponsoring the episode.

    For more information on this episode click here.




    Show Notes

    Student Loans Owned and Securitized, Outstanding—Federal Reserve Bank of St. Louise

    Senate majority gives Biden path to student loan forgiveness by Sylvan Lane—The Hill

    Schumer pressures Biden to bypass Congress to cancel $50,000 in student debt per borrower by Annie Nova—CNBC

    Biden will call on Congress to forgive $10,000 in student debt for all borrowers by Annie Nova—CNBC

    Outreach From Borrowers Could Overwhelm Student Loan System When Pandemic Pauses End by: Sarah Sattelmeyer and Lexi West—PEW

    Financial Report of the United States Government FY 2019

    Warren makes case to Fed chair for canceling student loan debt by Naomi Jagoda—The Hill

    Student Loan Losses Seen Costing U.S. More Than $400 Billion by Josh Mitchell—The Wall Street Journal

    Final Monthly Treasury Statement Receipts and Outlays of the United States Government For Fiscal Year 2020 Through September 30, 2020, and Other Periods—U.S. Department of the Treasury

    Average Student Loan Debt at Graduation by Mark Kantrowitz—Savingforcollege.com

    Profile Of The Labor Force By Educational Attainment by Vernon Brundage, Jr.—U.S. Bureau of Labor Statistics

    Millennial life: How young adulthood today compares with prior generations by Kristen Bialkin and Richard Fry—PEW Research Center

    Forgiving Student Debt Isn’t a Great Stimulus Plan by Noah Smith—Bloomberg

    Average annual salary of bachelor's degree recipients employed full time 1 year after graduation, by field of study: Selected years, 1976 through 2001—National Center for Education Statistics

    NACE Salary Survey Winter 2020—National Associations of Colleges and Employers

    Australia’s student loan problem is a teachable moment for the U.S. by Jason Delisle and Alex Usher—Brookings

    • 23 min
    The New Math of Retirement Spending and Investing

    The New Math of Retirement Spending and Investing

    How should individuals invest and spend in retirement with interest rates so low, stock valuations high, and inflation uncertain. Why retirement managed payout funds and income replacement funds failed.

    Topics covered include:How managed payout and income replacement funds compare to immediate annuitiesWhy Vanguard and Fidelity changed the objective of their retiree focused income replacement and managed payout fundsHow fixed annuities workHow retirees should combine annuities with multi-asset class portfolios to ensure a successful retirementWhy the 4% retirement spending rule is not appropriate for all investors all of the time.Why inflation is the biggest determinant of how much retirees can spendWhy is there so much controversy over the current and future inflation rate


    Thanks to Mint Mobile and Truebill for sponsoring the episode.

    Show Note Links

    Vanguard Throws in the Towel on Its Managed Payout Fund by Daren Fonda—Barron's

    Generating Retirement Income Isn’t Easy, Even for Vanguard by Reshma Kapadia—Barron's

    Today's Best Multi-Year Guaranteed Annuities (MYGAs)—ImmediateAnnuities.com

    Opinion: The inventor of the ‘4% rule’ just changed it Brett Arends—MarketWatch

    The Price of Tomorrow: Why Deflation is the Key to an Abundant Future by Jeff Booth

    Alternate Inflation Charts—John Williams' Shadow Government Statistics

    Americans Are Richer Than We Think by By Phil Gramm and John F. Early—The Wall Street Journal

    For more information on this episode click here.

    • 27 min
    Convertible Bonds : The High Return Asset Class That Vanguard Abandoned

    Convertible Bonds : The High Return Asset Class That Vanguard Abandoned

    How convertible bonds work, why they gained 50% in 2020 and outperformed stocks over the past five years. Why Vanguard shut down their convertible bond mutual funds.

    Topics discussed include:How big is the convertible bond marketWhy companies issue convertible bondsHow convertible bonds work and how to analyze themWhy convertible bonds have performed so wellWhat is a reasonable expected return for convertible bonds and what are the risksWhat are ways to invest in convertible bonds


    Thanks to Netsuite for sponsoring the episode. Take the Money For the Rest of Us listener survey.




    Show Notes

    A Plunge and a Recovery Drives a Top-Performing Year in Convertibles by Andrew Bary—Barron's

    Convertible Bond Indices: An Overview by SPDR EMEA ETF Strategy Team—State Street Global Advisors

    CONVERTIBLE SECURITIES: Structures, Valuation, Market Environment, and Asset Allocation by John P. Calamos, Sr with contributions from Eli Pars—Calamos Investments

    Tesla, Inc. 2.00% Convertible Senior Notes due 2024 (the “Convertible Notes Offering”) Issuer Free Writing Prospectus—U.S. Securities and Exchange Commission

    Risk and Return in Convertible Arbitrage: Evidence from the Convertible Bond Market by Vikas Agarwal, William Fung, Yee Cheng Loon, and Narayan Y. Naik

    The Fluctuating Maturities of Convertible Bonds by Patrick Verwijmeren, and Antti Yang

    Convertible Bond Arbitrage by George Long—Eureka Hedge

    For more information on this episode click here.

    Also, go here to learn more about Money For the Rest of Us Plus membership.

    • 23 min
    2020 - The Year We Will Never Forget

    2020 - The Year We Will Never Forget

    A review of how the pandemic, financial markets, and government policy evolved in 2020 to make for an unforgettable year.

    Topics covered include:Why the Covid-19 pandemic ranks as the second worst in modern historyWhat is the difference between risk and uncertainty and how our investing should be different when dealing with uncertaintyWhat portfolio changes did David make in 2020 and how should he have invested if he had perfect foresightWhy speculative assets such as gold and cryptocurrencies have performed so well in 2020Why high savings rate and pent up demand provides a tailwind for the economyHow to invest and live when the future is unknowable


    Thanks to Policygenius and LinkedIn for sponsoring the episode.

    Show Notes

    286: Coronavirus and the Financial Impact of Pandemics

    291: How To Survive the Coronavirus (COVID-19) Shutdown

    Madame Vivelda—Saturday Night Live

    What Is Risk vs Uncertainty?—Money For the Rest of Us Guide

    299: Has the Pandemic Changed You?

    Personal Saving Rate—Federal Reserve Bank of St. Louis

    302: Investing is Not Knowing

    310: Why the Stock Market and Economy Are Rebounding So Quickly

    How 700 Epidemiologists Are Living Now, and What They Think Is Next by Margot Sanger-Katz, Claire Cain Miller, and Quoctrung Bui—The New York Times

    Paul McCartney Is Still Trying to Figure Out Love by David Marchese—New York Times Magazine

    For more information on this episode click here.

    Also, go here to learn more about Money For the Rest of Us Plus membership.

    • 23 min

Customer Reviews

4.5 out of 5
1.1K Ratings

1.1K Ratings

ralphwood88 ,

Grounded view on investing and economics

David provides thoughtful insight on investment strategies including currency, precious metals, lumber, antiques, stocks, bonds and real estate - that list is not exhaustive. A typical episode will include relevant anecdotal connections to David’s life and explanations behind the topic. He is enjoyable to listen to and generally provides data that challenges my own view points and biases. I especially enjoy when he dabbles into regional and global economics as well as the impact of the (typically US) government acting upon an economic system. I recommend this podcast to anyone who enjoys a somewhat story-driven lesson on finance, investing, economics and government.

SFStanley ,

Change is Good

David’s podcasts are learning tools. Although some reviews note the material is too thick or too heady, after listening to 30 to 40 episodes I know more and feel more comfortable with the investment decisions I’m making. It isn’t always the easiest content to grasp because it is new. For me, the goal is to expand my knowledge - change is good.

niknoname ,

Quotes too many statistics

I like the personal anecdotes about David and his family. They provide useful context for the subject and point being made. In the last year or so he seemed to get bogged down in too many numbers without expressing meaning. That may be because of his analytical background and may appeal to some listeners. I started tuning out though.

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