21 Burst results for "David Stein"

"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

04:39 min | 3 months ago

"david stein" Discussed on Money For the Rest of Us

"Walk on the money for the rest of us. This is a personal finance show on money. How it works, how to invest in how to live without worrying about it. I'm your host, David Stein, today's episode three 92. It's titled. What is money? And how to think about it. Part one this episode, format is different than we've done and money for the rest of us. My son, Camden and I have a discussion about money and we do it over a period of two episodes, we dive into a number of aspects of money, public versus private money, how money is debt, what are the attributes of money, how money is energy and many other topics. Hopefully you'll find this two part series helpful. Let's go ahead and get started. The first episode of money for the rest of us was on what is money. And we've had a number of episodes about money, what is it, how to use it, how it's created, what are the risks with money, but there has been a lot of developments in really the last few months where I would say there's a lot of money confusion. Where individuals thought they held something that was money. Tara USD, the stablecoin, for example, and within hours that money was completely gone. So I thought it would be helpful to bring in my son Camden, who is a partner at money for the rest of us. And we're going to talk about money and talk about stories of money so that we understand the principles of money. And typically, when we think about money, it's helpful to start with our earliest memories of money because that, you could call it baggage, you could call it that narrative that relationship with money starts very, very young. So Camden, welcome to the podcast. Thanks, happy to be here..

David Stein Camden Tara USD confusion
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

05:36 min | 3 months ago

"david stein" Discussed on Money For the Rest of Us

"Hi, I'm David Stein and money for the rest of us. And today I want to share with you about our most recent course. How to invest in closed end funds. Closed end funds are a type of investment vehicle. An investment vehicle is a container that holds underlying securities. An investment vehicle you might be familiar with are exchange traded funds or open end mutual funds that you find in your defined contribution account. But today I want to talk about closed end funds. This is an investment vehicle, many people have not heard of. Yet it is one of the best investment vehicles we can use as individual investors. And here's why..

David Stein
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

05:41 min | 9 months ago

"david stein" Discussed on Money For the Rest of Us

"Personal finance show on money. How it works, how to invest in how to live without worrying about it. I'm your host David Stein today's episode three 70. Its title. Should you invest in small and in mid cap stocks? I recently got two emails from members of money for the rest of us plus. Asking about investing in smaller and mid sized companies. These companies are called small cap and mid cap and cap stands for capitalization, which is a measure of the size of a publicly traded company. Capitalization is measured by the number of stock shares outstanding, times the price. One of these members sent me a detailed spreadsheet that had performance taken from Morningstar of a number of different ETFs comparing large cap U.S. stocks, small cap stocks, mid cap, growth value momentum. I won't get into all that data, but one of the things is clear over the past decade. Large company stocks have been fairly consistently outperforming small companies stocks. If we go back over the past decade, small cap stocks have only outperformed large cap stocks on an annual basis four times. And mid cap stocks have outperformed large cap stocks. Only three times. Over the past decade. The other member was looking at performance of mid cap stocks versus large companies stocks. And their question is the same. Has something fundamentally changed to which large company stock will consistently outperform mid cap and small cap stocks going forward? We're going to explore that question in today's episode. Let's first look at what the differences are between small cap mid cap and large cap. Again, we're looking at market capitalization, small cap stocks are typically stocks that have a market capitalization between 300 million and $2 billion. Mid cap stocks have a market cap between 2 billion 10 billion and then large cap stocks would be stocks above 10 billion. Now these are not firm rules. Every vendor index provider has different criteria. For example, the S&P 400 mid cap index includes stocks with market capitalizations between 3.6 billion and 13.1 billion. Vanguard has different classifications..

David Stein Morningstar U.S. S Vanguard
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

04:50 min | 10 months ago

"david stein" Discussed on Money For the Rest of Us

"Rock on the money for the rest of us. This is a personal finance show on money, how it works, how to invest it and how to live without worrying about it. I'm your host David Stein today's episode 360 nine. It's a year in Q&A episode. I sent out an email to the insider's guide email list, then ask for questions on money, investing the economy, really on anything. We received over 80 questions. I'll answer about a dozen but many of the other questions will be used in future episodes of the show because all of the questions were very, very good. This is the last episode of the year, we're taking our yearend break. We have a family wedding. We have the holidays, and so our next episode episode three 70 will be released on Wednesday January 12th. Here's the first question. The money for the rest of us approach to valuing most investments is cash flow, expected cash flow growth and what investors are paying for that cash flow. Are there other formulas that are commonly used? If so, what makes this formula more compelling? Cash flow, cash flow growth and what investors are paying for the cash flow are really what we use to estimate investment returns. So forecasting returns a component of that is valuations. And so we can value assets based on cash flow, so what's the price to cash flow? We can look at investments on a price to earnings basis. We can look at their yield relative to historical yields. We can look at valuation on different accounting metrics such as price to book. For calculating expected returns, we use those three components because that is the underlying math of investment returns of calculating performance. Now sometimes we use different words for that, but at its core, it's the income plus the capital appreciation of the asset. Your return of any asset will be a function of the income if there is income the rent, interest, dividends, and the second is the asset go up in price. Was there appreciation? If it's an apartment building, it rent a real estate. How much net income is there each year after expenses? And when you're ready to sell that building, we were able to sell it for more than what you paid. I don't know of any other way to calculate returns or estimate expected returns because that's just the way the math is, as an investment adviser, we would generate performance reports for clients using those elements and so that's how it's done, but there are definitely other ways to actually value an asset to decide if it's overvalued or undervalued or not. But those three components of cash flow cash flow growth and what investors are paying for that cash flow now versus later are the underlying elements to get to the income and the capital appreciation, which is what performance is..

David Stein
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

01:32 min | 10 months ago

"david stein" Discussed on Money For the Rest of Us

"Welcome to money for the rest of us. This is a personal finance show on money. How it works, how to invest it and how to live without worrying about it. I'm your host David Stein today's episode 360 eight. It's titled. How to invest in web three bows and the metaverse. The term web three is something that I only heard about this year, although we've talked about it on the show in numerous episodes when we discussed elements of the blockchain, cryptocurrency, DeFi NFTs and other topics along those lines. Let's start with what is web one. Web one was really from 1991 to 2004. When we think of we D one, we think of email, static websites, domain names, DNS, IP addresses, online purchases. Search functionality. I recall as a newly minted MBA working for AT&T capital around 1994 when netscape came out. A browser. Prior to that, all my Internet experience was just used net groups. There was no email that we used in the corporate setting. It was very paper focused. But then I started hearing about the World Wide Web. About that time I joined our investment advisory firm..

David Stein netscape AT
"david stein" Discussed on Orville R. Beckford Ministries Podcast: "GRACE WITHOUT BORDERS!"

Orville R. Beckford Ministries Podcast: "GRACE WITHOUT BORDERS!"

07:20 min | 1 year ago

"david stein" Discussed on Orville R. Beckford Ministries Podcast: "GRACE WITHOUT BORDERS!"

"Have to go through in the future when i four c. r. predict our project what i might experience he says yego even though i walk through the valley of the shadow of death even though i walked the valley of the shadow of the nahra board of death even though i face the danger of death i will fear no evil. Let the devil throw all. He wants the dutch fly. Let the danger lurks. Let the perils rise. I have this confidence. That god is with me and my friends when you know that god is with you you can step out boli with brave nece and move forward in life no matter what is coming your way because when god is with you you know you're more than conquerors through him who loves you. Why do i have this confidence and again my friends you me. We are looking at thought for you on the twenty third psalm that we have used and red sox amelia early and point so often that we have lost value. You got to go back and look at what it is saying to you. He said is rod and his staff. A jewel component of what god uses to get me to where. I'm going to get me to where i am from where i'm coming and to get to going. As my destiny his rod and his stop or the double component that is you use as weapon of comfort and guide and protection and cheer the word. right is a masculine noun and speaks of authority is an offensive weapon and the guiding instrument. The star is a feminine noun and speaks of support and some believe it brings comfort light. The work of the holy spirit. God's ride and a stop in david stein brought him comfort like today in your time my time we have the holy spirit who has been given to us to provide us comfort in a time of need and uncertainty trust me mania would have lost on minds had it not been for the rod and a staff of god that brings us comfort and the showroom and to reminds us that god is differ for us protecting and guiding and also supplying our needs and then the psalmist went on to say they comfort me like sometimes sometimes when i mourn sometimes life cosmi to more life caused me to grown life cosmi the side and cry but they confront me sometimes anxiety knocks at my door. But they comfort me god's rod and his staff they comfort me. He prepares a team before me in the presence of my enemy. He has not kept secret what he is doing for me. He has not kept secret whether they like it or no. He prepares a table before me. In the presence of my enemy right. In the presence of the enemy he appears that table making it clear of his provision making it clear of his provision and then he anoints my head with oil. The word anoint means to become fact are prosperous. Anointing is also symbolic of power and the pouring note of the spirit. He annoys my head with oil to my cup runs over. He makes me function not little. But with an overflow my crop runs over and then my friends with all of that e concludes. You concludes surely with confidence. Surely without a doubt goodness and mercy sala follow me anywhere. You see me anywhere you see me. Goodness and mercy are with me in the darkness on the mountains in the valleys in the book times in the bad times wherever you see me. Goodness and mercy are following me in mate me. I make it to another day. I make it through this battle. I make it through this challenge. Only because goodness and mercy are following me not just for today not only in good times but also in the bad not only not temporarily but all the days of my life and he said and i will remain in the house are the habitation of god forever. Nothing moves me by the grace of god. My friends that is a reflection on some twenty three. And i hope that you will find that a source of inspiration. A source of encouragement. A source of help to you in this time when we need it more than ever if you're blessed and you inspired by this if you grasp something from this popular twenty third psalm then go ahead digest it and share it with your friends and your family because they to my need this assurance and this comfort that god is there as a shepherd who does all the things for the sheep than i need not to worry because he's there for me. This is a thought for your day. Share it be blessed by be inspired and others find the joy of it is my hope that as you listen to this podcast that you have been inspired encourage that your mind is been illuminated and you have received that thought trust the lord rely on his word and his promises because there remain true. If you're last. Remember to follow me on facebook. Check my youtube channel or be ministries jet my website. There is always a thought for you on my website so many things that you can be inspired by. Don't forget to subscribe to my podcast and share with your friends on your family and keep on looking over what next the law will say to you onto mix time this is or respect which in the same thing joining me on another podcast. And i look for the cu. Next time the power is in your hand to share with your friends and your family. That's how you get it around. That's all you can be a source of inspiration lesson to others until next time i see you again. But don't forget to share with somebody. And i see you again..

yego boli nece david stein amelia red sox rod sala youtube facebook cu
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

04:59 min | 1 year ago

"david stein" Discussed on Money For the Rest of Us

"Hi this is david stein just a quick note that they will not be an episode released next week on wednesday october six. It's a break week. Our next episode of so three sixty one will be released on wednesday october thirteenth. Walking money for the rest of us. This is a personal finance. Show on money how it works. How to invest it and how to live without worrying about it. I'm your host david stein. Today's episode three sixty. It's titled will the us default the debt ceiling government shutdown so and then national debt. The us is in the midst of its periodic circus theatrics as relates to the debt ceiling and a potential government shutdown. The economist newspaper calls the debt ceiling issue the most bizarre of economic spectacles a ritualistic threat of economic self harm. They continue in the name of fiscal responsibility. The world's biggest economy is flirting with an act of brazen irresponsibility a sovereign default. Two things are going on currently right now. If you see the news you see talk of government shutdowns talk of debt ceiling potential default. The debt ceiling issue is separate from a potential government shutdown related to the fiscal twenty twenty. Two budget is current fiscal year ends at midnight. This thursday september thirtieth twenty one without additional funding many government functions will be shutdown museums. The national parks will close. Many federal workers won't get paid about three out of five workers. The last government shutdown was in january two thousand nineteen. It lasted thirty five days and seemed like it was never going to end until air traffic controllers who were deemed essential workers. Were working without pay started calling in sick that led the flight delays and ultimately an agreement to fund the government. That's what congress is supposed to do to fund the government now oftentimes. They don't have a new fiscal budget passed by october. First but they can pass. What's known as a continuing resolution to continue to fund the government. They have not done so yet. The second issue is the debt ceiling. The debt ceiling is the legal cap that congress sets on the amount of borrowing that the government can do the amount of treasury notes and bonds issued by the us treasuries. The first overarching debt ceiling was put in place in nineteen seventeen prior to that debt was authorized by congress but for specific purposes. The debt ceiling has been raised. Seventy eight times since nineteen sixty.

david stein us congress treasury government
"david stein" Discussed on TED Radio Hour

TED Radio Hour

02:03 min | 1 year ago

"david stein" Discussed on TED Radio Hour

"It's the ted radio hour from npr. I'm newsom roti and today we're spending the hour talking to writer. Aj jacobs about his journey on the gratitude chain with ted talks that have inspired him along the way including one by benedictine monk david stein. No great food living. That is the thing. And how can we live gratefully experiencing becoming aware that every moment is a given moment as we say it's a gift you haven't earned it you haven't wanted about in any way you have no way of showing that there will.

newsom roti Aj jacobs monk david stein npr ted
"david stein" Discussed on TED Radio Hour

TED Radio Hour

02:01 min | 1 year ago

"david stein" Discussed on TED Radio Hour

"It's the ted radio hour from npr. I'm a newsom roti. And today we're spending the hour talking to writer. Aj jacobs about his journey on the gratitude chain with ted talks that have inspired him along the way including one by benedictine monk david stein. No great food living. That is the same. And how can we live gratefully experiencing becoming aware that every moment is a given moment as we say it's a gift you haven't earned it you haven't wanted about in any way you have no way of showing that there.

Aj jacobs monk david stein npr ted
"david stein" Discussed on The 2 Robbies

The 2 Robbies

05:52 min | 1 year ago

"david stein" Discussed on The 2 Robbies

"They spent some of that money before he went. Because then you is going on some off towards minneola boy. What a play from. Norwich the on bailey the jamaica. I think i'm right in saying rubio. Forty two million dollars. danny ings. Thirty five million ashley. Young free axelle tons. Abm loan for mancha united. So some very intriguing names. And we're going to go back to david stein in london skies studios for more alisonville david whose owners clearly very ambitious. They don't just wanna finish midtable they. There's a bit of a redressing the balance in the premier league. Rebecca because the villa owners and wesson suarez that very very wealthy and they're willing to resist the overtures of the so-called biggest clubs for their applies and less the case if there is a release close and not only that they want to invest themselves and they wanted to quickly get up competitive and try and get towards european football and that means that when greenish was on his way out they wanted to rebuild without money really quickly efficiently. There were covert operations. None none more so than dongfang's who nobody knew about until they announced the signing. Well if i'm going to speak. Truthfully i did nearly broke the story but some things happened. I couldn't get it out anyway. Villa were so impressive there and it continues the trajectory that. They're on a club under dean. Smith is the manager. Who i do. We'll come under pressure for results. Don't come but hopefully for him. They will because he's really impressive. They've had changes to his backroom staff as well but they seem to be doing okay. so far. The chief executive krisztian puzzle spoke publicly. About how they really analyze. How they could replace greenish and what they decided to do was spread things out across the pitch in a way that they didn't do before so they are not now. So reliant on. Jack greenish and that could be a significant risk. You could say because he was so good for them but a pleasant departure because the responsibility will be on more heads. And i'm really excited to see what they can do. But those owners at the top of the club. They will be demanding. And i want to see dean smith and those plays deliver by the way the fact that david olson didn't about stories the headline there for the because he is the breaking news man over in the uk. And that's why it's permanent inside that you like the signings don't you do. I think she was difficult situation. When you've got such high profile. Play like jack dreamers. Who goes and you have the money and you go to spend. It's a bit like the bell. Money it spurs the doing a good job. rebecca sneaky. Good window. i'll i'll look through. English was a great by onto the vado them bellies and good player. We've seen him in bundesliga. Wendy is a great pickup familiar. Said also in for him in villa. Got him so they're doing it in different ways and that's important ambitious ownership group. Is david sad. I just thought i'd mention to and say they also won the faa youth cup last season and they've got some good young too. I think they believe over the course of the season. We'll find a spot in in the first team time so balance of good chance the activity space for young players. It feels like a club. That's going in the right direction and is heading towards the top author able and then the top six. That's important to know the that's held in such high regard in britain. So these owners and dean smith. And i've heard other pundits and other journalists talk about that deems with now this season really is going to be under a little bit of pressure because as we heard that david said the the ambitions of the os there for everyone to see. How do you see the dynamic. I don't see a could be totally wrong. I don't think there is a lot more pressure on things smith. I think there's been steady progression over the last couple of seasons. I think the squad has been getting steadily better. You sow your iconic captain and the team gets better. That's does good work. And i think that's the progression. Of course they want to build on. Last season's eleven. I think it was last season in the premier league. That's not going to be easy to do given the changes. But i see a club. Moving the right direction. Remember the randy learn years rebecca an toils of the fans having to deal with that and then another owner came in that wasn't great is about ownership the premier league and they've got two great ones that david talked about one put money in and they not great news. Villafane was interested in house looking bucket. Villa two seasons go back. They stayed up by one point last day of the season and very very different and they've stayed up and use that as a platform to go on the soco who played against tottenham last weekend was brought in and that was a good bye to you like you like mrs soco and that are not purchase. How do you look at what the amount they bring in the amount they the managers out. It's certainly interesting modal model. You know that they have. I like moose co coming in. He gives them a bit of experience in the midfield as it gets a little bit older. It's not brilliant signing but it certainly gives them some permanently experience. I think sar top will get his goals. Dennis come coming in as a transfer. I think that's that was also a good signing. I just think with with with cisco news it's a little bit too. Cavalier off the cuff. And when i watch them see some players pressing from different positions with really no trigger as a team to go press the ball little bit too wide open. Don't think that at the back there solid enough there yoyo club. They are yoyo come and i and i do. I worry for them this season. It's going to be real struggle to stay up. i think. I think that's a score bags of goals and hope they don't consider end. It's not really that. I'm only look at what food we don't know where this is going to be the manager in november or tomorrow because they just change whenever they want to change masters big fan but they say they'll only.

danny ings mancha united david stein alisonville david wesson suarez krisztian puzzle Jack greenish dean smith david olson jack dreamers rebecca sneaky rubio Norwich jamaica ashley Villa Rebecca david london
"david stein" Discussed on Immanuel Cares

Immanuel Cares

17:55 min | 1 year ago

"david stein" Discussed on Immanuel Cares

"You'd get that in there. Why not doesn't have a battery doesn't have power today. You guys learned that the power to to live a christian. Life doesn't come from anything else. But you've been equipped with the word of god and the means of grace which are powerful which are able to do what god has promised to do to keep you in the true faith until life everlasting. And how do you know that's true. Because you are surrounded by your brothers and sisters in christ who all say we need. Jesus in his word. We need the sacrament. Like you confess. Today we need a sacraments because otherwise we don't have the power to do anything to face. All of what life has to throw. We need the word of god and you have the witnesses of those who have gone before you were up in heaven will tell you. They need the word of god and the means of grace. That's the power. It's actually does what jesus promises to do to keeps us in the true faith until life everlasting. It actually does give us the power to face on all the things that offer to face it with joy and gladness in love for god and love for neighbor so today we talked about. This is a time of transition time of graduation. Maybe people will come up to you today. And say congratulations. Maybe they'll come up to you and say continue to be equipped with power from god in his word amen. Thanks for.

Jesus Today jesus today christian christ
"david stein" Discussed on Immanuel Cares

Immanuel Cares

04:53 min | 1 year ago

"david stein" Discussed on Immanuel Cares

"David lorin stein father out of his glorious riches strengthen you with power through his spirit in your inner being so that christ meet well in your heart through faith your confirmation verse from isaiah chapter forty one ten so do not fear for i am with you. Do not be dismayed for. I am your god. I will strengthen you and help you. I will uphold you with my righteous right hand. Elijah david your church. Now invite you to receive the sacrament of the lord's body and blood accept us invitation with a deep reverence and holy joy regard. You're communing at the lord's table as a precious privilege. Given to you by god through his church received the sacrament thankfully and often the almighty god most mercy for god father son and holy spirit bless and keep you grace mercy and peace are yours from god our father through our lord and savior. Jesus christ god's word for today from the book of acts chapter one reading versus six to eight so when they were together with him. That's jesus they asked him lord. Is this the time when you are going to restore the kingdom to israel. He said to them. It is not for you to know the times or seasons that the father has set by his own authority. But you will receive power when the holy spirit has come upon you and you will be my witnesses in jerusalem and all judea and samaria and to the end of the year. This is the word of the lord. I invite you to pray with me. Directors now gracious lord to hear right your holy word assist your minister to preach and let the holy spirit teach and let eternal life be found by all who hear the gospel sound. Amen dear brothers and sisters in christ and especially dear brothers confidence in the faith. Some look at confirmation as if it's graduation as if they're christian formal christian education is over after all. We've got a cake. The cake means we're done with something right. We have people coming up to you today. Saying congratulations right congrats..

jerusalem israel Elijah david Jesus christ David lorin stein jesus six eight today isaiah christian samaria chapter one one ten end judea christ chapter forty
"david stein" Discussed on Immanuel Cares

Immanuel Cares

02:46 min | 1 year ago

"david stein" Discussed on Immanuel Cares

"Water yields food in season. And whose leaf does not wither. Whatever we do prospers. Not so the wicked. They like jeff that the wind blows away therefore the will not stand in the judgment as soon as assembly of leykis for lord watches over the way of the waiters but the way of the wicked leads to destruction to some that we should go and grow in god's word and the person who does that will do good works and we'll go to heaven but unlike wicked when they died they will go to hell and saw john three verse sixteen to eighteen pretty famous passage in the bible. All ole talks about how jesus came and saved us from us ends. For god's love the world that he gave his one and only son that whoever believes in him so not passed. But have you turn a life for god. Did not send his son into the world to condemn the world but to save the will do him. Whoever believes in him is not condemned but whoever does not believe stands condemned already because they have not believed in name. God's one and only son. Finally i'm glad to be a christian because what jesus says in matthew twenty eight with twenty beat and shirley i'm with you always to the very end of the age to me. That is way confident for. I know that when we are having troubles in our life we know that. God's gonna be with us always and to help us get through them and that is why. I'm glad to be a christian brothers and sisters in christ since it got alone enables us both to will and to do according to his good pleasure. It is right for us to your friends in christ to call on him for these confirmations that he would graciously complete the good work which he has begun in them let us therefore bow our heads and pray for god heavenly father. We thank and praise you for your great goodness and bringing these sons of yours to the knowledge of your son. Jesus christ and then giving them both hearts to believe in mouse to confess enable them to bring forth the fruits of faith to continue steadfast and victorious until the day comes when all who have fought the good fight of faith show is the crown of righteousness through jesus christ your son our lord who lives in range with you and the holy spirit one god now and forever amen brothers in christ what we as a christian congregation have here asked our heavenly father to confer on both of you. We now ask him to give each one of you individually.

jesus christ Jesus christ shirley jesus both one twenty christ both hearts each one jeff bible one god eighteen both of you God christian twenty eight john three
"david stein" Discussed on Immanuel Cares

Immanuel Cares

05:42 min | 1 year ago

"david stein" Discussed on Immanuel Cares

"Manual lutheran church of surely wisconsin. This is episode. Forty seven confirmation day for elijah and for david and so in addition to the sermon for today we have the confirmation right and the essays that they wrote. So you'll hear the essays. I then the confirmation right then. The sermon from acts chapter one sermon entitled equipped with power. Let's join the wish birds on me. Seen hello you know I want to be a member of manual lutheran church. I want to be a member of manual lutheran church because i want to grow in my faith encourage others. They encourage me being fellowship with other christians and to receive the blessings of the word and sacrament. I want to be a member of this church. Because i want to grow on my faith romans. Ten seventeen says grow in the grace and knowledge of our lord and savior. Jesus christ i want to know god's word better by being in church and listening to reading sermons. Most importantly i want to be reminded of jesus and his work of salvation through his word. John says but these are written that you may believe that jesus is the christ the son of god and that believing you may have life in his name..

John david elijah jesus Jesus christ Forty seven Ten seventeen today equipped with power manual lutheran church chapter one Manual lutheran church christians wisconsin christ
A Discussion with David's Former Investment Firm

Money For the Rest of Us

04:48 min | 2 years ago

A Discussion with David's Former Investment Firm

"Welcome back to David Star. Great to be here. Thanks for having me. Yeah we'll works cited. We could we need some help with this podcasting thing and before we do a deep dive, we thought maybe we start out with the effigy year. So first things first, you often reference at Bejesus has not by name but your previous job. So listeners, what did you actually do it E. G. DE MATURE? So I joined Effigy Nineteen Ninety five it was a very small firm at the time only twenty five employees and then I was there seventeen years left in two thousand twelve and at twenty five person firm We pretty much did everything everybody did everything? So I was an analyst consultant. Research then I became a partner in nineteen, ninety eight eventually was on our effigy executive committee for many years I co founded what became effigies Osceola effort at the time it was called managed portfolios, and so I oversaw portfolios and then when I left I was. Co leading the research group is chief investment strategist and chief portfolio strategist. So it was it was a great. Have Very fond memories of a years at effigy and learned to bunch. He is you even prior to your came up we were. Looking at a research report and I said, well, how does that researcher Borno Greg is so old it David Stein road like oh boy. Update that one exactly a what are some of your favorite memories are lessons learned from your time at you? As a young firm at the. Twenty five employees there's always been very low turnover both from co workers, partners and clients, and so it's just it's those years of being with colleagues and clients and the trust that you. You have in in your fellow co workers and that that's one thing I miss about not being with a firm is just the trust you have in your fellow partners. What learn was just we were all curious. And we were all trying to figure out how invest markets work, navigate, increasingly complex capital markets, and so I I really liked the constant change and that's that's one reason I got into investing instead of having to move to the next job all the time. Everything else was moving around us in terms of how markets revolving and so that that was great and the big takeaway from that is as you know, you learn humility as an investor and and the reality is no one really knows what's going to happen. I thought when I was an advisor that I had to know that like people were paying me to predict the future and you realize that you can actually manage assets an allocate assets without having perfect foresight. There's ways to manage risk and to do that and make decisions and just recognize that we don't know and the humility that comes from that longer you invest. Great there's definitely a difference between risk and uncertainty, and sometimes you you just have to embrace the the uncertainty and I thought that was that was very well said I certainly recognized I know a lot less than that I, thought I, did each year. I know less. Is a great a great mark I remember the day we're we're at A. Orders RETREA. I'm just GonNa retire and your whole life David. You're you're too young to retire like. See Retire and do what you did immediately. Turn podcasting you retire what happens next. Well now. So I left in two thousand twelve and I launched the podcast in two thousand, fourteen I I spent a couple years writing about investing I was a number of. Businesses. I started. Shut Down Because I. Was Afraid Somebody would hire me I had been investment advisers for so long I just I loved investing I just couldn't find. The way that wanted to continue to do it without. So I didn't have to manage assets and have that that Wade of that fiduciary responsibility i. was a guest on a podcast in two thousand fourteen realized that that was kind of fun because what I missed about. Effigy was an opportunity to teach to go to. An endowment, Investment Committee and to just talk about investing and talking about our latest research and so. After that guest appearance few weeks later, experimental launch a podcast though structured kind of like an investment committee just not do interviews do more a solo show twenty-five minutes talking about money the economy investing and at the time. Everyone, was more people were getting smartphones, they had data plans, and so I saw a shift. And podcasting timing turned out to be very good. As, there were not really that many investing podcasts. At the time and so that that's what I've been doing since. So it's been six over six years now.

Investment Committee David Star Partner First Things First Borno Greg Wade Executive Committee CO Analyst Researcher Advisor Consultant Fiduciary
How to Not Have a Lost Decade

Money For the Rest of Us

04:13 min | 2 years ago

How to Not Have a Lost Decade

"Welcome money for the rest of this is a personal finance show on money how it works how to invest it and live without worrying about it. We host David Stein today's episode three, fourteen it's titled Don't have a lost decade. Recently, got an email from a new plus member. He says he's treating the material on the website like an online college course but he had a question he wrote that he's approaching a crossroad in his life and he would like to prepare himself for that crossroad. He works at one of the Best Public Gardens in us as a horticulturalist he's been there three years makes forty three thousand dollars per year has four weeks of vacation full healthcare and Hsa they have a four zero three. B. Defined contribution plan where he gets a six percent match his boss enjoy working with him and he enjoys his job. This member also has his own business, a lifestyle business providing premium horticulture services for high end properties. He started in two thousand nineteen gross four thousand dollars and anticipate grossing twelve thousand dollars this year he has no debt. The only thing he owns he says, that is worth. Any money is an old pickup truck that's worth about three thousand. Is roughly eighteen thousand, five hundred dollars in his defined contribution plan and using the online tools on money for the rest of US plus. That, he's on track to retire in his early sixties. y'All says about two thousand dollars in a savings account pays two percent and about fifteen hundred dollars in a wealth front Robo Advisor. Account. He's living on about eighteen to twenty thousand dollars a year. After contributing to is defined contribution plan and health savings account, he brings home about twenty, eight, thousand dollars but that doesn't include is overtime bonuses or the work in his business. After taxes and contribution he estimates that he's bringing home about thirty, five, thousand dollars with everything, which means potentially he could save fifteen to seventeen thousand dollars per year and certainly ten thousand dollars per year. He writes for the first time in my life I'm not living paycheck to paycheck am planning for the future. The business I own. Now as a hobby passion, I turned profitable. It has been a great space for me to learn and have done a lot of just that but it ultimately is a glorified landscaping business. What they really want to own is a retail nursery that one day will become an event, an education centre as well. I turned thirty two months. I thought at this point I would go beyond an entry level position. I thought I would own my own house and maybe own a business full-time. Those goals seem so far away. The question I want to pose to you is, how do I get from where I am today to owning a five to ten acre property that can use to develop into my next lifestyle business as soon as possible Had An additional investment question that address in a few minutes. I he's not in an entry level position. He is a master, her cultures he's studied it. He learned a lot of those skills working at an organic farm and Tasmania. Got, his university degree. He was admitted to a professional horticulture program at the Public Garden where he works, he is very, very skilled in all aspects of landscape design and gardening. and. There are a lot of people that would be very envious that he has his amazing job working in horticulture and one where he can listen to a lot of podcast which he does. In order to answer question I want to compare to couples I know I've known for about a decade. This particular members approaching thirty. He's looking out over the next decade. What has to happen so that he doesn't have a lost decade and can reach goals I'm positive he can reach his goals.

David Stein United States HSA Public Garden Advisor GOT Tasmania
"david stein" Discussed on Money For the Rest of Us

Money For the Rest of Us

04:58 min | 2 years ago

"david stein" Discussed on Money For the Rest of Us

"I got an email last week from a member of money for the rest of US plus. . He has been listening to my show for over four years and loves it. . You continue to like the way you explain financial strategies and how you occasionally cover the more personal aspects of life as well as investing. . This gentleman retired three years ago when he turned fifty six, , he has four million dollars in investable assets half, , which is in cash and bonds. . He follows one of the adaptive model portfolios on the website and converted over ten percent of his assets out of stocks in March based on the monthly investment conditions strategy report, , we do on money for the rest of. US. . . Plus. . He wrote to be honest decision I now heartily, , regret. . He could generate I really liked the sound logic. . The analysis based approach you promote to help, , decide how to dial up or down allocations to different asset classes in acknowledge your modifications have resulted in some investment success that said, , I've typically been a classic buy and hold investor writing out the dips but this time in March I followed the logic to reduce the allocation stocks and wait for conditions to improve we all know how that turned down. . How did it turn out? ? We have had the fastest bear market recovery ever in the US and around the world. . His concern is that by the time investment conditions deteriorate or improve is already being reflected in market prices. . Is there even a reason to make any adjustments to our asset mix? ? He I also know this was a very unusually fast drop and recovery. . But as I plan to stick around as a plus member and take some level of guidance from the investment conditions, , it seems like a fair question ask about what level back testing is available to see how this method works as an alternative to my old approach to just buy hold. . I also recognize your approach covers asset classes, , versus just stocks versus bonds and types of bonds such as real estate looks good or bad high yield looks good or bad etc.. . Now, , this monthly investment condition and strategy record has commentary and metrics to help individuals stick to the portfolio plan or perhaps to make adjustments as risk changed. . Focuses on valuations, , economic trends and investors sentiment. . It relies on my over two decades of investment experience but also draws on data provided by institutional investment and Economic Research Services that we pay tens of thousand dollars per year to access. . Now, I'm , not trying to sell you on plus membership in this episode, , but to be frank is email kind of bothered me a little bit not that he wrote it I think there's a absolutely fair questions and deserve a fair response. . What bothered me was the challenges I've had in trying explain what portfolio management is. . This member feels regret for a decision. . He made one decision, , but portfolio management involves many many decisions. . I saw a tweet last week that also kind of bothered me not because there was anything wrong with the tweet, , but it raises the question is better to trade buying individual stocks or to use options. . Her view was better to use options because they're less expensive. . That might be true. . Again deciding to buy individual stocks with options that's just one decision. . Wealth is not built preserved by buying individual options following the latest hot stock tip. . Trading Foreign Exchange or following the guidance of Investment Newsletters that sometimes have doomsday scare tactics. . My background is in institutional portfolio management. . I worked with major universities like Texas, a, , , and m university. . I was their investment advisor for thirteen years. . They have over a billion dollars in assets. . I've worked with other universities in private foundation. . We often met with investment committees to tackle all the decisions involved a managing a portfolio the same decisions that individuals have to make in fact, , individuals have to make even more decisions when it comes to managing an investment portfolio. . What I have found is institutional investors and serious individual investors. . They follow a disciplined portfolio approach. . They focus on global multi asset class portfolios. . They rely on reasonable expect to return and risk assumptions to make asset allocation decisions. . Their focus is on a Chievo real net of inflation growth. .

US David Stein
Coins and Cash: Shortages, Hoardings, and Threats

Money For the Rest of Us

03:54 min | 2 years ago

Coins and Cash: Shortages, Hoardings, and Threats

"Walking money for the rest of us. This is a personal finance show on money how it works how to invest it, and how to live without worrying about it. I'm your host David Stein today's episode three, Zero Eight. It's titled Cash Coins. shortages. Forty and threats. Weeks ago, my daughter and I were at a bakery buying a couple of loaves of bread. We didn't have the exact change and they didn't have the coins to make chain. So they rounded down, we got a small discount. This week I was going through the McDonald's drive through, and there was a sign that said due to treasury shortage of coins, use credit or debit cards. Round up to the nearest dollar, donate the different to Ronald McDonald house charities or use exact change on cash transactions. There is a coin shortage in the US right now. Federal Reserve Chair Jerome Powell told Congress last month. What happened is that with the partial closure of the economy, the flow of coins through the economy, it has gotten all. It's kind of stopped. We've been aware of it. We're working with the meant to increase supply while working with the reserve banks to get this apply to where it needs to be. The Agency of the US Treasury responsible for minting coins is the US. Meant it was established in seventeen ninety two by Congress when it passed the coinage Jack and it chose Philadelphia as the site of the I meant. Now, the US mint operates production facilities in Philadelphia, San, Francisco Denver, and West Point. Every two years, Congress requires US Treasury to give a report on the US mint its budget and its cost to produce its coins. In twenty twenty, the US meant projected that it would produce fourteen billion circulating coins. Including eight and a half billion pennies. One point, three, billion Nichols two point, four, billion times. One Point, eight, billion quarters. Now. Due to the coronavirus pandemic, the US mint cut back production of circulating coins in March and April. Year to date through July, they had produced eight point, two, billion coins. They said, they were back up to full capacity by mid. June anticipate producing one point six, five, billion coins per month. That would equate eighteen point, one, billion coins. But here's the thing about circulating coins in the US and other countries. The meant only contributes a relatively small percentage of the new circulating coins each year twenty, nineteen, it was seventeen percent. New. Coins. Going into the supply chain? The remainder came from third party coin processors are recyclers as individuals by things they get back and there are machines where you can put your spare change and it will sort it and this recirculating process. Make sure there is a sufficient supply of coins that has broken down. A couple of weeks ago, meant issued a bulletin, which said, we ask that the American. Public start spending their coins, depositing them or exchanging them for currency at financial institutions or taking them to a coin reduction kiosk. The coin supply problem can be solved with each of us doing our part. This isn't the first time that there has been a coin shortage. There was one in the early nineteen sixties in the US.

United States Us Treasury Congress Twenty Twenty Ronald Mcdonald West Point David Stein Federal Reserve Mcdonald Jerome Powell Nichols Philadelphia Francisco Denver SAN
Income Share Agreements - Good For Students or Investors?

Money For the Rest of Us

05:58 min | 2 years ago

Income Share Agreements - Good For Students or Investors?

"Welcome money for the rest of us. This is a personal finance show on money how it works, how to invest it and how to live without worrying about it. We host David Stein today's episode three seven. It's titled Income Share Agreements. Good for students. Or. Investors. Over five years ago and upset forty-five of money for the rest of us. I introduced income share agreement as a way to partially fund college. An income share agreement is a contract where individuals agree to pay a certain percentage of their income for a set period of time in exchange for an upfront payment that is usually used to pay for education cost but can be used for other things. For example, a line income share funding says that you can get an essay for home repairs, debt consolidation, paying a medical bill or even planning your wedding. Not sure I would do it income share agreement for most of those things. They are traditionally us to invest in what is known as human capital, our ability to earn money by getting more. Education. Another name for income share agreements is human capital contracts. Income share agreements were first proposed by the economist Milton Freeman in a nineteen, fifty, five essay titled The Role of Government in education. He wrote vocational or professional education is a form of investment in human capital precisely analogous to investment in machinery buildings are forms, of non human capital. Its function is to raise economic productivity of the human being. If it does. So the individual is rewarded in a free enterprise society by receiving a higher return for his services than he would. Be Able to command. We discussed this concept summit upset to forty five is college worth it. And determined, there is a positive financial return in investing in human capital. By attending college, you can earn more, you build your social capital, your network you gain knowledge. Having a college degree allows you to pass filters that many companies put in place with their hiring practice in that, they only hire individuals with college degrees. Freeman continued. If a fixed money loan is made to finance investment in physical capital, the lender can get some security for his loan in the form of a mortgage or a residual claim to the physical asset itself, and he can count on realizing at least part of its investment in case of necessity by selling the physical asset. In other words, the lender has some collateral that could be sold in the case of default. But Freeman a problem if the loan is made to invest in human capital. He writes the lender clearly cannot get any comparable security in a non slave state the individual embodying the investment cannot be bought and sold. Freeman then pointed out that because there isn't collateral that the interest rate charged on student loan would have to be sufficiently high to compensate for the capital loss because there wouldn't be collateral and that the interest rate would have to be so high making the loans unattractive to borrowers. Now. A solution was found. Federal guaranteed student loans. The total US Student Loan Dad. Private and federal is one point six, four, trillion dollars. Only a hundred and twenty, four, billion of that one point six trillion is private. The average federal student loan debt balance is thirty, five, thousand dollars and the default rate is high. Eleven point one percent. It's particularly challenging for individuals that have taken on a lot of student loan debt to pay off. A Brookings Institution study from two thousand eighteen found that the median borrower who had less than fifty thousand dollars in student loan debt in the early two thousands paid off the debt within ten years. While the median borrower, they had more than fifty thousand dollars in student loan debt ten years later still owed about seventy, five percent and most of the students falling behind on their student loan debt are those that have a balanced greater than fifty thousand dollars. Friedman's proposed solution income share agreements. They weren't necessarily called that, but he said that. A contract could be structure where an investor would buy a share in an individual's earnings prospects. To advance him, the funds needed to finance his training on condition that he agreed to pay the lender a specified fraction of his future earnings. In this way Friedman wrote, a lender would get back more than his initial investment from relatively successful individuals which would compensate for the failure to recoup his original investment from the unsuccessful. There seems no legal obstacle to private contracts of this kind even though they are economically equivalent to the purchase of a share in an individual's earning capacity and thus to partial slavery. These. Agreements have been criticized perhaps not slavery, but certainly indentured servitude. Although Miguel Palacios yet us in his book investing in Human Capital felt that the analogy to slavery or indentured servitude was incorrect because the students retain the full freedom of action they're not forced to stay in a given job or even a work in the field in which they trained in. So they have the ability to to work anywhere they want.

Human Capital Milton Freeman Friedman David Stein United States Brookings Institution Miguel Palacios
"david stein" Discussed on Scoops with Danny Mac

Scoops with Danny Mac

03:17 min | 2 years ago

"david stein" Discussed on Scoops with Danny Mac

"Always enjoy your writing on these subjects A and you've you've hit the nail on the head on a bunch of them, and you're to be applauded, so I'm sure you get feedback every which way which is part of your job, but that that's that's kind of. Par for the course. That's your territory that drain, aren't you? Yeah, man! We got up. We gotta have. We gotTa have conversations that our topic can always be easy. I'm just glad that we you know. We have people who are willing to discuss and debate. You can't have strong opinions, but I'll say this. You shouldn't have strong opinions unless you're willing to hear. Others and as long as they're presented respectfully than that I think there's I think you're always better off having having conversation so I'm glad that we get to do that I'm glad that folks like listening to us to it and I hope we get to keep doing it with sexual games to talk about Oh God. Believe me. There's been no words that you said on Friday morning. Then talking about real games, it would be nice any great diversity. With everything to Ben It'd be. It sounds cliche but man. It would be a great diversion for the country. It would be awesome to see it. I I was. I was going to wrap it up with this but I I watched. came up on my twitter feeds. One of the NBA players is playing like a pickup game, and somebody just was you know recorded it and they made a little highlight film. I sat and watched it and it was like Oh. This is live sports and yesterday. There was a game on ESPN, not the case, but it was like the top college players in baseball kind of like a showcase game. College kids whatever it was I watched that I it was in, they had up in the monitored, said live, and I was like this is great. You know this. Is it just reminds me of how much I miss. It and I've been doing these town halls for the cardinals, and we had Jeff Superfan and David Stein on Wednesday and they were tremendous talking about what was going on? Oh six in the game at Shea in game, seven and winning in. In Mvp for both of them in the in the in the world series and I realize when I'm done with those for an hour. I didn't think about what was going on with the corona virus in our country. It just gave me an outlet to think about sports not to say that I'm not paying attention to what's happening in the country. Believe me, that's front and center, but it's a diversion and it just reminds me how important sports can be..

cardinals twitter Mvp NBA ESPN Jeff Superfan baseball David Stein
"david stein" Discussed on My Worst Investment Ever Podcast

My Worst Investment Ever Podcast

01:55 min | 2 years ago

"david stein" Discussed on My Worst Investment Ever Podcast

"Book money for the rest of US ten questions to master successful investing was published in twenty nineteen a few things that David said that stood out to me is that we internet time of radical uncertainty. Nobody can accurately forecast. What's going on the market? Could race up? It could collapse. Part of what you have to do is build a portfolio that brings you comfort comfort that you're overexposed one way or another and I think he also mentioned something about that. There's no right answer for the situation that we're in so listen. What David has to say about that. Hi This is David Stein. And the money for the rest of us. Podcast stock markets around the world or selling off in response to the pandemic and then they've mounted some impressive rallies the day to day volatility can be painful confusing for investors. What should you do with your investment portfolio to answer that we I have to recognize? No one knows when the pandemic and economic turmoil end we know it will end. But there's still a high level of uncertainty because we don't know how many people are syptomatic and may have had the disease and so there's a perhaps a huge amount of herd immunity or perhaps not and we can get a series of waves that keeps the economy. Shut down for months ahead. This is radical uncertainty and in that environment there is no way to accurately forecast. What will happen or determine the optimal acid mix to position your portfolio for what lies ahead instead. You must choose an asset allocation that. You're comfortable with considering two opposite events. I The stock market falls significantly from here because the economic shutdown last much longer and is more.

David Stein US