Money For The Rest of Us

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361 Plus: Closed-End Fund Tender Offers and Asset Class Returns During High Inflation Environments

In Plus Episode 361, we review the proxy battle that has led to a tender offer by Templeton Global Income Fund (GIM) to purchase up to 70% of its outstanding shares. We consider whether now is the time to sell the fund. We also review two studies on how different asset classes and investment strategies performed during periods of high inflation. … [Read more...]

359 Plus: Hedging Interest Rate Risk and a Deep In the Money Call Option Strategy

In Plus Episode 359, we calculate how much of the Simplify Interest Rate Hedge ETF (PFIX) to purchase in order to protect against rising interest rates. We also look at how purchasing deep-in-the money call options is a way to get cheap leverage to magnify the returns of a specific index or asset. … [Read more...]

358 Plus: Tactical Asset Allocation, Two Buy-Write ETFs, and Deciding Whether to Buy a Restaurant Franchise

In Plus Episode 358, we review several studies that use a 200-day moving average to move in and out of the stock market. We compare the Global X Nasdaq 100 Covered Call ETF to the Global X S&P 500 Covered Call ETF. Finally, we consider whether a couple should buy a vegan fast food restaurant franchise. … [Read more...]

356 Plus: September 2021 Investment Conditions, Valuing Pensions, and Maximum Drawdowns

In Plus Episode 356, we review economic trends, asset class valuations, and market internals as of early September 2021. We consider how to value a pension and how to incorporate it into an asset allocation. Finally, we review how maximum drawdown calculations are determined for the Money For the Rest of Us Plus asset allocation model and how frequently maximum drawdowns occur, using the S&P 500 Index as an example. … [Read more...]

355 Plus: Base and Broad Money, Contracts for Difference, and UCITS ETFs

In Plus Episode 355, we contrast base money and broad money for the U.S. dollar and Bitcoin, and how debt tied to both currencies increases the money supply. We look at how contracts for difference are structured and what are the risks. Finally, we look at UCITS ETFs for European based investors and introduce substitute model portfolio holdings using UCITS ETFs. … [Read more...]

354 Plus: Advisory Fees, A Mortgage Note Fund and Safe Haven Investing

In Plus Episode 354, we explore how to evaluate an advisor's business model to estimate their firm revenue to see if their fees seem fair. We consider the impact of valuation changes on stock performance. We review a fund that invests in private mortgage notes and promises an 8% preferred return. Finally, we review Mark Spitznagel's new book on safe haven investing. … [Read more...]

353 Plus: China, VIEs and Stock Performance Over the Past Decade

In Plus Episode 353, we review variable interest entities, the corporate structure used by some of the largest publicly traded technology companies operating in China. We review the risks of this structure, especially in light of recent regulatory actions taken by the Chinese government against publicly traded tutoring companies. We compare the risks of investing in China and other emerging markets with the risks of investing in an expensive U.S. stock market. … [Read more...]

352 Plus: August 2021 Investment Conditions and Securities Lending

In Plus Episode 352, we review financial market returns, asset class valuations, economic trends, and market internals to see how the recovery is coming and if any portfolio changes are warranted. We also look at the securities lending programs used by ETFs and mutual funds to generate additional fee income. We consider the risks of these programs and whether investors should be worried. … [Read more...]

J. David Stein
Darby Creek Advisors LLC
P.O. Box 68544 • Tucson, AZ • 85737