Money for The Rest of Us

Investment help and financial guidance for the rest of us.

  • Podcast
  • Guides
        • Asset Classes

        • A Complete Guide to Investing in I Bonds and TIPS (2025)
        • A Complete Guide to Equity REIT Investing
        • A Complete Guide to Mortgage REIT Investing
        • A Complete Guide to Investing in Gold
        • A Complete Guide To Investing In Convertible Bonds
        • Investing in Bitcoin, Oil, and Volatility ETFs
        • Carbon Investing and its Effect on Climate Change
        • Farmland Investing
        • The Opportunity and Risk of Frontier Markets
        • Investment Vehicles

        • A Complete Guide to Investment Vehicles
        • How to Invest in Closed-End Funds
        • What Are SPACs and Should You Invest in Them?
        • Money and Economics

        • A Complete Guide to Understanding and Protecting Against Inflation
        • Understanding Web3 Investing
        • Strategy

        • Why You Should Rebalance Your Portfolio
        • What Is Risk vs Uncertainty?
        • Tail Events and Tail Risk
  • Resources
        • General Resources

        • Topic Index
        • Glossary
        • Most Influential Books
        • Member Tools

        • Member - Getting Started Guide
        • Asset Allocation and Portfolio Tools
        • Current Investment Strategy Report
        • All Investment Conditions Reports
        • Strategic and Adaptive Model Portfolios
        • Member Tools and Downloads
        • Member Resources

        • Plus Premium Episodes
        • Submit A Question to the Plus Podcast
        • Member Forums
        • David’s Current Portfolio
        • David's Portfolio Trades
        • Courses

        • Investing in Closed-End Funds
  • Members
  • Join
  • Log In
You are here: Home / Archives for volatility drag

520: Where Are We Heading?

April 16, 2025 by Camden Stein · Updated May 1, 2025

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 … [Read more...]

Filed Under: Podcast Tagged With: ergodicity, karma, positive skewness, volatility drag

460: Should You Be Invested 100% in Stocks Before and During Retirement? A Recent Study Says Yes. 

January 3, 2024 by David Stein · Updated July 9, 2024

The pros and cons of investing your retirement assets 100% in equity, including half in international stocks. Why the 4% spending rule is too aggressive. Topics covered include: Why historical asset class return studies that use only U.S. data are biased How researchers build a broader database to study retirement outcomes and spending rates How a 100% stock portfolio performed compared to balanced portfolios and target date funds Why investors should have half their assets … [Read more...]

Filed Under: Podcast Tagged With: positive skewness, retirement investing, retirement savings, retirement spending, skewness, spending rates in retirement, Spitznagel (Mark), stocks, volatility drag

458: Dissecting Stock Returns: Financial Engineering or Genuine Growth?

December 6, 2023 by David Stein · Updated January 12, 2024

Do the impressive returns in public and private markets stem from strategic financial engineering or reflect actual economic growth? Topics covered include: How corporate profit growth is linked to economic growth, even though corporate profits are more volatile How interest rates, tax rates, and stock buybacks influence corporate profits and stock returns Why there are fewer publicly traded stocks How the increase in leveraged buyouts has impacted the economy How private … [Read more...]

Filed Under: Podcast Tagged With: economic growth, financial engineering, financialization, leveraged buyouts, private equity, profits, stocks, volatility drag

455: Easier Investing, Richer Life: TIPS Ladders to Annuities

November 8, 2023 by David Stein · Updated April 24, 2024

What are the pros and cons of partially funding retirement expenses with an inflation-indexed bond ladder versus an immediate annuity? There is a big downside to TIPS ladders that many investors don't realize. Topics covered include: Why the stock market is more risky than many people realize Is it too late to invest in TIPS as one advisor suggests How TIPS and TIPS ladders work How immediate annuities work The pros and cons of a TIPS ladder versus an immediate … [Read more...]

Filed Under: Podcast Tagged With: bond ladder, immediate annuities, simplicity, Spitznagel (Mark), TIPS, Treasury Inflation Protected Securities, volatility drag

451: How Much Should You Invest in Stocks? The Art of Position Sizing in a Volatile Market

October 11, 2023 by David Stein · Updated July 9, 2024

Our allocation to risky assets should vary based on the expected return, volatility, risk aversion, and how much we can earn risk-free. That means we should be taking less risk right now. Listen to learn why. Topics covered include: Why there are so few billionaires Why the hedge fund Long Term Capital Management imploded Why how much to invest is more important than where to invest How the Merton share formula can assist with determining what percent of our wealth to invest … [Read more...]

Filed Under: Podcast Tagged With: asset allocation, positive skewness, risk management, skewness, volatility drag

Why You Should Rebalance Your Portfolio

What you need to know about rebalancing methods, timing, and the impacts of volatility  ARTICLE TABLE OF CONTENTS (Skip to Section) Positive Skewness and Faulty EmotionsDon’t Let High Volatility Drag You DownWhen Rebalancing Becomes ImbalancedTiming Isn’t Everything Rebalance Your Portfolio the Way That’s Best for YouPodcast Episode 356: How, When, and Why Should You Rebalance Your Investment Portfolio by EMILY BOULTER & | Updated You know that your portfolio … [Read more...]

Contact | Team | Topic Index


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

Copyright © 2025 • Disclosures, Privacy Policy, and Cookie Policy • Site by Tempora

Manage Cookie Consent

We use cookies to optimize our website, marketing, and services. 

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
Manage Cookie Consent
We use cookies to optimize our website, marketing, and services. We never sell users' data.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}