A concerning example of how AI makes simple financial mistakes, and the right and wrong way to use AI to make financial decisions. Topics covered include: How AI ignores the time value of money A detailed example of ChatGPT misleading by making a simple math mistake Some examples of opportunity costs and sunk costs when making financial decisions Understanding how AI works can help us use it more effectively Show Notes What Kind of a “PhD-level Expert” Is ChatGPT … [Read more...]
541: Debasement Fears or Meme Fever? What’s Driving the Gold and Silver Rally
Are gold and silver up more than 50% in 2025 because investors fear currency debasement, or is this rally just the latest meme trade? In this episode, we explore the supply and demand forces behind gold and silver, discuss investing strategies, and outline what to watch to see if investors truly are worried about debasement. Show Notes The Great Debasement Debate Is Rippling Across World Markets by Ruth Carson, Naomi Tajitsu, and Masaki Kondo—Bloomberg How long will gold mania … [Read more...]
540: Beyond Munis — New ETFs for Tax-Efficient Bond Investing
How to decide when to invest in municipal bonds versus new tax-efficient bond ETFs that don't invest in munis. We analyze several newer ETFs that earn bond-like returns while avoiding paying taxable income distributions. Investments mentioned: Vanguard Tax-Exempt Bond ETF (VTEB) iShares 7-10 Year Treasury Bond ETF (IEF) JPMorgan Ultra-Short Municipal Income ETF (JMST) Alpha Architect 1-3 Month Box ETF (BOXX) F/m Compoundr U.S. Aggregate Bond ETF (CPAG) F/m … [Read more...]
539: Resilient Wealth in an Era of Infinite Money
What happens when the money supply grows too slowly or too quickly? From gold-standard deflation to QE-driven inflation and inequality, we trace the lessons of monetary history, and what we can do today to protect ourselves in an age of infinite money. Topics covered include: How is the money supply measured, and why is it a subjective exercise What is an example of a negative money shock Why an optimal monetary policy would lead to deflation, and why that is a good … [Read more...]
538: Forests, Fakes, and the Fight for the Real
From salmon leaping along the Vancouver Island coast to fake bands on Spotify, this episode explores the divide between the physical and digital economy, and what lumber markets, managed forests, and everyday life teach us about staying connected to the real. Topics covered include: How timber investing works and why it is reflective of how industries evolve What percent of economic output is physical versus digital, and how has that changed over the past fifty years How … [Read more...]
537: Why Central Banking Is So Hard and Why Fed Independence Matters
Central bankers set policy with incomplete information, unobservable targets, and constant trade-offs between growth, inflation, and employment. In this episode, we delve into how the fight for Federal Reserve independence could impact markets, interest rates, and your financial future. Topics covered include: What Federal Reserve Chair Powell said at the Fed's annual Jackson Hole Symposium What is the Federal Reserve's mission statement Why is it normal for U.S. presidents to … [Read more...]
536: How to Invest During a Bubble?
From the dot-com boom to today’s AI frenzy, bubbles follow a familiar script. This episode explores how to recognize them, what sustains them, and how to position your portfolio without getting swept up in the hype. Topics covered include: How U.S. stock markets are the most concentrated and most expensive of all time What constitutes a bubble and what sustains it How to invest during a bubble Changes David recently made in his portfolio in response to the AI … [Read more...]
535: Six Principles for Thriving Under Uncertainty and How Big Tech Is Doing the Opposite
A practical framework for making better decisions, managing risk, and finding opportunity in unpredictable environments. We contrast these principles with the massive $2.9 trillion AI data center build-out by Big Tech, which is betting big on a single superintelligence future. Show Notes Inside the relentless race for AI capacity—The Financial Times Inside the AI race: can data centres ever truly be green?—The Financial Times The Kanye/Data Center Crossover by Paul … [Read more...]
534: Why Most Hedge Funds Fail but This One Didn’t with Dave Thomas
Dave Thomas, CIO and Founder of long/short hedge fund, Atalan Capital Partners, shares why most hedge funds fail and the keys to being a long-term successful investor. Show Notes Hedging Risk, Accessing Opportunity with Dave Thomas—F.E.G. Insight Bridge Episode Sponsors Delete Me – Use code David20 to get 20% off Transcript Coming Soon … [Read more...]
533: How To Better Navigate Money, Time, Risk, and Uncertainty with Carl Richards
David converses with renowned illustrator and financial philosopher Carl Richards on the abstraction of money, attentional capital, distinguishing risk from uncertainty, and the importance of taking microactions. Show Notes Behavior Gap Your Money: Reimagining Wealth in 97 Simple Sketches by Carl Richards Episode Sponsors Asset Camp Money for the Rest of Us Plus Related Episodes 496: Are You Taking Enough Aspirational Risk? 394: How to Get Better at Risk … [Read more...]
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