<blockquote>“I have something to admit – I enjoy receiving a paycheck twice every month. Some people are willing to give up the sure thing to pursue a passion project, launch their own business, or take a year off to travel the world. While I’m envious of those with such conviction, I just can’t pull the trigger.”</blockquote><p><br></p><p><strong>Kevin (</strong><a href="https://twitter.com/ferventfinance" target="_blank"><strong>@ferventfinance</strong></a><strong>)</strong> blogs at <a href="http://ferventfinance.com/" target="_blank">Fervent Finance</a> and is the co-host of the <a href="http://ferventfinance.com/category/podcast/" target="_blank">Reversion to the Mean</a> podcast with <strong>Justin Castelli</strong>. Tadas got Kevin on <s>the phone</s> Skype to talk about a recent post of his entitled “<a href="http://ferventfinance.com/its-okay-to-like-your-paycheck/" target="_blank">It’s Okay to Like Your Paycheck</a>.” While the media is focused on Instagram influencers, FIRE advocates and startup CEOs, there is a whole world of people out there doing the do. Kevin talks about how a “regular job” has a host of benefits that go beyond a regular paycheck.</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:&nbsp;<a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:&nbsp;<a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<blockquote>“Because of the complexity of these compensation structures, I find that most people love the idea of having equity but do not understand it. With companies paying up to 50% of their employees total compensation package in equity, it’s important to understand what exactly is at stake when you decide to accept that job offer for “the next big thing.”</blockquote><p><br></p><p><strong>Dasarte Yarnway</strong> (<a href="https://twitter.com/DasarteYarnway" target="_blank">@dasarteyarnway</a>) is the founder of <a href="http://www.berknell.com/" target="_blank">Berknell Financial</a> group which is a fee-only financial planning firm headquartered in San Francisco.&nbsp;Dasarte is also the host of <a href="https://podcasts.apple.com/us/podcast/young-money-podcast-with-dasarte-yarnway/id1399342839" target="_blank">The Young Money Podcast</a>. Tadas got Dasarte on the phone to talk about his newly published book <a href="https://www.amazon.com/Pay-Equity-Millennial-Understanding-Compensation/dp/1077681690/" target="_blank"><em>Pay Me in Equity</em></a>. In some industries, equity compensation is an important part of your pay package, so understanding the details is crucial. Beyond the financial aspects, ownership is an important concept that applies in different areas of our lives.</p><br><p><u>Where to find Dasarte's work</u>:</p><br><p><a href="https://www.amazon.com/Pay-Equity-Millennial-Understanding-Compensation/dp/1077681690/" target="_blank"><em>Pay Me in Equity: A Millennial Guide to Understanding Equity Compensation</em></a></p><br><p><a href="https://podcasts.apple.com/us/podcast/young-money-podcast-with-dasarte-yarnway/id1399342839" target="_blank">The Young Money Podcast</a></p><br><p><a href="https://www.amazon.com/Young-Money-Proven-Actions-Design/dp/1523092165/" target="_blank"><em>Young Money: 4 Proven Actions to Design Your Wealth While You Still Can</em></a></p><p>&nbsp;</p><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:&nbsp;<a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:&nbsp;<a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<blockquote>“A right balance is somewhere in between – enjoying Today while planning for Tomorrow. And there’s no magical, universal formula, spreadsheet, or ratio to figure this out. It’s entirely subjective to each person and family.”</blockquote><p><br></p><p><strong>Jeremy Walter</strong> (<a href="https://twitter.com/jeremywalter" target="_blank">@jeremywalter</a>) is the founder of <a href="http://www.fidentfinancial.com/" target="_blank">Fident Financial, LLC</a> and logs at <a href="https://calibratingcapital.com/" target="_blank">Calibrating Capital</a>:. Tadas got Jeremy on the phone to talk about a recent post of his entitled “<a href="https://calibratingcapital.com/today-vs-tomorrowland/" target="_blank">Today vs. Tomorrowland</a>” where he writes about the challenges of balancing our need to live in the moment while planning for our uncertain future.</p><br><p>You can read more at Andrew’s blog <a href="https://calibratingcapital.com/" target="_blank">Calibrating Capital</a>:</p><br><p><a href="https://calibratingcapital.com/today-vs-tomorrowland/" target="_blank">https://calibratingcapital.com/today-vs-tomorrowland/</a></p><p><a href="https://calibratingcapital.com/living-in-today-a-case-study/" target="_blank">https://calibratingcapital.com/living-in-today-a-case-study/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: <a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer: <a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh Brown here - Michael Batnick and I return with an all new What Are Your Thoughts! </p><br><p>Today's topics:</p><br><p>* What technologies that we use now that will soon be obsolete? </p><br><p>* Why bother worrying about manufacturing data when consumer data is what drives the economy? </p><br><p>* 75 million Amazon customers are watching shows on Prime Video - what the hell are they watching? </p><br><p>* Where does Once Upon a Time in Hollywood rank in the Tarantino pantheon? </p><br><p>* Is Chipotle the greatest consumer turnaround story of our time? What lessons can investors take from its comeback? </p><br><p>* Why is the Federal Reserve cutting interest rates for the first time in almost 4,000 days? </p><br><p>* Esports - how can we make money from this? </p><br><p>* Was the Wall Street Journal too harsh on the CFP Board? </p><br><p>As always, we love your feedback and ideas, so let us know what you think about these topics below! </p><br><p>Check out the corresponding video on our YouTube Channel: https://www.youtube.com/watch?v=6Co78bh5ANg&amp;t=316s</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Once upon a time, quality financial advice was only available for millionaires and the sophisticated investors who had the expertise to find the right advisors and understand exactly what they were getting.&nbsp;</p><br><p>Non-millionaires and younger investors were ignored by traditional Wall Street brokerage firms, left to fend for themselves or, worse, to be preyed upon by unscrupulous brokers and insurance salesmen with skewed incentives.&nbsp;&nbsp;</p><br><p>But times have changed, thanks to an innovative wave of new advisory firms, new services from large institutions and disruptive technology. Now, quality investment advice is available to everyone.&nbsp;</p><br><p>Automated asset management services and robo-advisors unleashed a storm of creativity and progress, and now human advisors are adopting these technologies to incorporate into their practices, serving a new customer that they otherwise would not have been able to reach and help.&nbsp;</p><br><p>We built Liftoff as a way to serve young investors and those who do not meet the minimum asset levels of traditional wealth management firms. Rather than send our fans and friends away to figure things out for themselves, we wanted to be able to help them ourselves, which led to years of development and evolution.&nbsp;</p><br><p>Liftoff is a collaboration between Ritholtz Wealth Management and Betterment, combining what we believe is best in class asset allocation technology with the human touch of certified financial planners and advisors.&nbsp;</p><br><p>We'd love for you to try us out and see what it's all about!</p><br><p>You can learn more at <a href="https://www.youtube.com/redirect?q=https%3A%2F%2Fliftoffinvest.com%2F&amp;redir_token=1LbKwBBjiKWLyfMHtAth7g9T1cJ8MTU2MzQ2MjYwMUAxNTYzMzc2MjAx&amp;event=video_description&amp;v=DaDqT3_NZRY" target="_blank">https://liftoffinvest.com/</a> right now!</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This isn't a financial business. It's a communications business. The sooner people get this through their heads, the better equipped they'll be to serve clients. In an all-hands meeting, Josh discusses the primacy of empathy and caring over everything else. </p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>FAQ: What are the seven deadly sins of investing? Many of the questions we get from investors revolve around one of these seven mistakes that, if left unchecked, could doom a long-term investing portfolio or retirement plan. </p><br><p>Lust!</p><p>Gluttony!</p><p>Envy!</p><p>Pride!</p><p>Wrath!</p><p>Greed!</p><p>Sloth!</p><br><p>Michael Batnick, Ben Carlson and Downtown Josh Brown weigh in on each of these sins and why they can be so destructive to investors who aren't aware of them. </p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:&nbsp;<a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:&nbsp;<a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“Student debt has negatively impacted many American’s lives, but it’s not a crisis that I believe warrants an expansion of the government balance sheet to the tune of multiple trillions of dollars. Like anytime the government puts their thumb on the proverbial scale, actions have repercussions and should be carefully weighted ahead of time.”</p><br><p>Andrew Thrasher (<a href="https://twitter.com/andrewthrasher" target="_blank">@andrewthrasher</a>) blogs at <a href="http://www.athrasher.com/" target="_blank">Thrasher Analytics</a> is an active participant on Financial Twitter. Tadas got Andrew on the phone to talk about a recent post of his entitled “<a href="http://www.athrasher.com/student-loans-are-not-a-national-crisis/" target="_blank">Student Loans Are Not a National Crisis</a>” where he writes about the many issues surrounding recent talk about modifying or outright cancelling student loan debt in America.</p><br><p>You can read more at Anrew’s blog <a href="http://www.athrasher.com/" target="_blank">Thrasher Analytics</a>: <a href="http://www.athrasher.com/student-loans-are-not-a-national-crisis/" target="_blank">http://www.athrasher.com/student-loans-are-not-a-national-crisis/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: <a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer: <a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“Where investing as a hobby might be sensible is with a small amount of your assets that you can afford to lose, and that you can handle psychologically. Being under the illusion that diving into investing in a meaningful way will result in above average performance is dangerous and likely to end poorly based on historical studies.”&nbsp;</p><br><p><strong>David Schawel </strong>(<a href="https://twitter.com/davidschawel" target="_blank">@davidschawel</a>) is the CIO of <a href="https://www.familymanage.com/" target="_blank">Family Management Corporation</a> and is a veteran observer of the financial markets. Tadas got David on the phone to talk about a recent post of his entitled “<a href="https://medium.com/@DavidSchawel/investing-as-a-hobby-8d048d5d98bd" target="_blank">Investing as a Hobby</a>” where he writes about what a hobby is and why investing is likely not a worthwhile hobby for most.&nbsp;</p><br><p>You can read more at <a href="https://medium.com/@DavidSchawel/" target="_blank">David’s blog</a>: <a href="https://medium.com/@DavidSchawel/investing-as-a-hobby-8d048d5d98bd" target="_blank">https://medium.com/@DavidSchawel/investing-as-a-hobby-8d048d5d98bd</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: <a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer: <a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

There are two types of authenticity and both are important to clients and potential clients of any business. Josh breaks it down, Live from the Compound<br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“As with most things in life you are in charge of your own stuff. If you want to drive a new luxury vehicle, more power to you. Just realize that there are financial (and environmental) trade-offs involved. But don’t be under the illusion that anyone really cares what car you are driving.”&nbsp;</p><br><p><strong>Ben Carlson </strong>recently got <strong>Tadas Viskanta, Director of Investor Education at Ritholtz Wealth Management,</strong> on <s>the phone</s> Skype to talk about a recent post of his entitled “<a href="https://abnormalreturns.com/2019/06/25/luxury-car-unlikely-happiness-boost/" target="_blank">Why Your Luxury Car is Unlikely to Materially Boost Your Happiness</a>” where he writes about the high financial costs of driving a new, luxury vehicle.&nbsp;</p><br><p>You can read more at&nbsp;<a href="https://abnormalreturns.com" target="_blank">Tadas' blog</a>: <a href="https://abnormalreturns.com/2019/06/25/luxury-car-unlikely-happiness-boost/" target="_blank">https://abnormalreturns.com/2019/06/25/luxury-car-unlikely-happiness-boost/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:&nbsp;<a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:&nbsp;<a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><br><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><br><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><br><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<blockquote>“The moral of this story is obvious. We all do better when we have something to aim at. That’s why proper benchmarking is so important. In the investment world, it means a standard or measure that can be used to analyze the allocation, risk, and return of a given portfolio.”</blockquote><p><br></p><p><strong>Robert Seawright</strong> (<a href="https://twitter.com/rpseawright" target="_blank">@rpseawright</a>) who blogs at <a href="https://rpseawright.wordpress.com/" target="_blank">Above the Market</a> is a long-established figure in the investment blogosphere. Tadas got Bob on the phone to talk about a recent post of his entitled “<a href="https://rpseawright.wordpress.com/2019/06/18/hows-your-aim/" target="_blank">How’s Your Aim?</a>” where he writes about the importance of having well-structured benchmarks against which we can measure our investment performance.</p><br><p>You can read more at Bob’s blog <a href="https://rpseawright.wordpress.com/" target="_blank">Above the Market</a>: <a href="https://rpseawright.wordpress.com/2019/06/18/hows-your-aim/" target="_blank">https://rpseawright.wordpress.com/2019/06/18/hows-your-aim/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: <a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer: <a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Who is the most disruptive person in wealth management? It's not a robo founder. Or an index ETF CEO. Or a blogger. </p><br><p>In fact, it is Shirl Penney, the founder of Dynasty Financial Partners, whose platform for breakaway brokers who want to become independent advisors and own their own firms has now amassed almost $40 billion in client assets over the last ten years. </p><br><p>Shirl has changed the way wirehouse brokers and other captive financial advisors at large firms have looked at independence. He's built a machine that began under the radar but is now on the verge of pushing the incumbents into allowing a degree of entrepreneurial freedom that would have previously been unthinkable.</p><br><p>Josh and Shirl first met during the Investment News 40 Under 40 Summit the year they both made the list. </p><br><p>Check out this video to learn about the biggest trends in the wealth management and financial advisor business, and how Shirl is upending some of the most bedrock conventions within the industry by working harder and smarter than his competitors. </p><br><p>You can learn more about Dynasty's solutions for breakaway brokers who want to become advisors and launch their own firms here:</p><br><p><a href="https://www.youtube.com/redirect?q=https%3A%2F%2Fdynastyfinancialpartners.com%2F&amp;v=kRdCe9aIhBg&amp;redir_token=Rxir3Lp3pPFPxPDaQDEyl2N7pGd8MTU2MTQ3MTMxNUAxNTYxMzg0OTE1&amp;event=video_description" target="_blank">https://dynastyfinancialpartners.com/</a></p><br><p>Shirl will be giving a keynote address to the advisors in attendance at this September's inaugural Wealth/Stack conference in Scottsdale, Arizona. Details here: </p><br><p><a href="https://www.youtube.com/redirect?q=https%3A%2F%2Ffinance.knect365.com%2Fwealth-stack%2F&amp;v=kRdCe9aIhBg&amp;redir_token=Rxir3Lp3pPFPxPDaQDEyl2N7pGd8MTU2MTQ3MTMxNUAxNTYxMzg0OTE1&amp;event=video_description" target="_blank">https://finance.knect365.com/wealth-s...</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh Brown and Michael Batnick discuss the recent post "I did everything I was supposed to do", which is the story of a man whose spent his whole career working for asset management firms and now finds himself on the wrong side of the active vs passive debate. There are real world consequences of the massive outflows of cash coming from actively managed mutual funds. This was Josh's attempt to look at the issue from the other side.</p><br><p>The post spread around the financial web like wildfire. You can read the whole thing here:</p><p><a href="https://thereformedbroker.com/2019/06/16/i-did-everything-i-was-supposed-to-do/" target="_blank">https://thereformedbroker.com/2019/06/16/i-did-everything-i-was-supposed-to-do/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This is not a business of numbers. It uses finance, but it is not even a business about finance. This business is a business of communication. Of relationships. Of empathy. Josh discusses the topic at an all-hands Monday meeting at Ritholtz Wealth Management.</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:&nbsp;<a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:&nbsp;<a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh's new post is about a world in which the cost of money remains cheap to free, and all of the potential disruption that would entail. Josh looks at this issue through the prism of a decade's worth of massive outperformance for growth stocks vs value stocks.</p><br><p>Ben Carlson (A Wealth Of Common Sense) brings up some interesting points about what this would mean for savers and investors and portfolio construction in general.</p><br><p>You can read the post, When Everything That Counts Can't Be Counted here:</p><p><a href="https://thereformedbroker.com/2019/06/13/when-everything-that-counts-cant-be-counted/" target="_blank">https://thereformedbroker.com/2019/06/13/when-everything-that-counts-cant-be-counted/</a></p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“This is going to be life and death for many advisors. Legacy firms with massive overhead and fixed high fee AUM structures will struggle to compete with the coming change in fee structures. Firms that are able to move to a leaner and more tech based platform will outperform as they make up for lost revenue with fatter margins.”</p><br><p><strong>Cullen Roche</strong> who blogs at <a href="https://www.pragcap.com/" target="_blank">Pragmatic Capitalism</a> has been a mainstay of the financial blogsophere for over ten years now. Tadas got Cullen on the phone to talk about a recent post of his entitled “<a href="https://www.pragcap.com/how-will-the-fee-structure-of-financial-advisory-change-in-the-future/" target="_blank">How the Fee Structure of Financial Advisory Will Change in the Future</a>” where he talks about the significant changes facing the wealth management industry..</p><br><p>You can read more about Cullen’s at his blog Pragmatic Capitalism:</p><p><a href="https://www.pragcap.com/how-will-the-fee-structure-of-financial-advisory-change-in-the-future/" target="_blank">https://www.pragcap.com/how-will-the-fee-structure-of-financial-advisory-change-in-the-future/</a></p><br><p>Enable our Alexa skill here - "Alexa, play the Compound show!"</p><p><a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ</a></p><br><p>Talk to us about your portfolio or financial plan here:</p><p><a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer if you seriously need this spelled out for you.</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh here - my friend Perth Tolle has been hustling and grinding harder than almost anyone I know on The Street these past few years - first, with the launch of her proprietary Life + Liberty Indexes and now with the first ETF based on her ideas.&nbsp;</p><br><p>Perth believes, as I do, that countries with a strong rule of law and respect for both civil and human rights will make for better long term investments than countries that are lacking in these areas.&nbsp;</p><br><p>The long term performance of the US, UK and Australian stock markets prove this. Where there is fairness and happiness, there is money to be made. Where there is repression and corruption, there is money to be lost.&nbsp;</p><br><p>Perth's ETF is an index fund holding emerging markets stocks but it weights the portfolio based on her quantitative ranking of each EM country, rather than based on the companies' market capitalization, as most index funds are currently invested.&nbsp;</p><br><p>Before taking any investment action or trading any fund, everyone should read the prospectus and understand the potential risks. You can find the relevant disclosures and details here:</p><p>https://etfsite.alphaarchitect.com/frdm/</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a> </p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: </p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Subscribe: https://www.youtube.com/thecompoundrwm?sub_confirmation=1</p><br><p>Josh here - I absolutely love this discussion between my partner Barry Ritholtz and the one and only Professor Scott Galloway about being happy and learning to live with yourself, in good times and bad. Scott's new book, The Algebra of Happiness, is both highly personal and instantly relatable to everyone.&nbsp;</p><br><p>Scott has become one of the most sought after speakers on technology, marketing, trends and innovation. This is a great introduction to the way he thinks, how he teaches his students at NYU and why he writes. You're going to love it!&nbsp;</p><br><p>Read Scott's book:&nbsp;</p><p>https://amzn.to/2WjCZOL</p><br><p>Enable our Alexa skill here - "Alexa, play the Compound show!"</p><p><a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ</a></p><br><p>Talk to us about your portfolio or financial plan here:</p><p><a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer if you seriously need this spelled out for you.</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“How balanced is your life portfolio? If one area of your life were to not work out, how vulnerable would you be? When is the last time you rebalanced your life's portfolio?&nbsp;When have you last expanded your life portfolio?”</p><br><p><strong>Dr. Brett Steenbarger</strong> is a trained psychologist, trading coach, author and blogger at <a href="https://traderfeed.blogspot.com" target="_blank">TraderFeed</a>. Tadas got Dr. Brett on the phone to talk about a recent post of his entitled “<a href="https://www.forbes.com/sites/brettsteenbarger/2019/05/27/why-diversification-works-in-life-and-markets/#30e104626ca2" target="_blank">Why Diversification Works in Life and Markets</a>” where he discusses the importance of having a diversified life portfolio to offset some of life’s inevitable ups and downs.</p><br><p>You can read more about Dr. Brett at his blog <a href="https://traderfeed.blogspot.com/" target="_blank">TraderFeed</a> and <a href="https://www.forbes.com/sites/brettsteenbarger/" target="_blank">Forbes</a>:</p><p><a href="https://www.forbes.com/sites/brettsteenbarger/2019/05/27/why-diversification-works-in-life-and-markets/#392f5def6ca2" target="_blank">https://www.forbes.com/sites/brettsteenbarger/2019/05/27/why-diversification-works-in-life-and-markets/</a></p><br><p>Enable our Alexa skill here - "Alexa, play the Compound show!"</p><p><a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ</a></p><br><p>Talk to us about your portfolio or financial plan here:</p><p><a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer if you seriously need this spelled out for you.</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><br></p><p>Blair duQuesnay catches up with Brian Portnoy to discuss some of the biggest challenges in defining wealth, finding happiness in our success and being aware of the fact that we seem to always want more.</p><br><p>Talk to Blair here:</p><p><a href="https://ritholtzwealth.com/team/blair-duquesnay/" target="_blank">https://ritholtzwealth.com/team/blair-duquesnay/</a></p><br><p>Brian Portnoy, Ph.D., CFA, is an expert at simplifying the complex world of money. In his two books, The Investor's Paradox and The Geometry of Wealth, he tackles the challenges of not only making better investment decisions but also how money figures in to a joyful life. Here's Blair's conversation with Brian about The Geometry of Wealth, whether money buys happiness, what makes people truly content, gratitude, and financial planning and goals.</p><br><p>Timestamps:</p><p>1:15 Being wealthy isn't the same as being rich</p><p>1:28 "I think of wealth as the ability to underwrite a meaningful life" (AKA funded contentment) - Brian</p><p>1:54 Blair on meeting goals - what she tells clients</p><p>2:20: "It's not about making more - it's about focusing on the goals" - Blair</p><p>2.35 Beating the market has become a cultural phenomenon, but it's irrelevant to meeting your goals</p><p>2:53 Hedonic adaptation: wherever you get, you then want more</p><p>3:20 Should I take my two-year old to Paris?</p><p>3:35: Two kinds of happiness: experienced happiness (in the moment) and reflective happiness (memory - "the step-back")</p><p>4:50 Distinction between pleasurable life and meaningful life</p><p>5:15 Blair's pro tip for Paris travel: how to skip to the front of the line at the Mona Lisa</p><p>5:40 What has Brian learned about gratitude?</p><p>6:15 Just saying "thank you" makes us feel better psychologically and physically</p><p>7:00 Does money not buy any level of happiness?</p><p>7:45 A higher salary doesn't make a big difference for gaining more experienced happiness (your day-to-day)</p><p>7:55 Going from $100k to $1M to $10M doesn't alter your emotional set point</p><p>8:30 The Geometry of Wealth - how do you afford a life that will make you happy?</p><p>9:00 You need to calibrate purpose and priorities - you need a plan (where financial advisors come in)</p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here:</p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Barry Ritholtz and Downtown Josh Brown welcome storied Wall Street veteran Jeff Saut, formerly of Raymond James, to The Compound. </p><br><p>Jeff talks about how he uses both fundamentals and technical analysis in his investment selection process, and why he doesn't pay as much attention to the economy as he does to earnings and investment ideas from trusted sources. Jeff spent the last 21 years as a chief strategist for Raymond James and has now gone independent, with both asset management and a new research product coming soon. </p><br><p>In this conversation, he relays the number one lesson he's learned in almost fifty years in the investment business - the secret to longevity on Wall Street. </p><br><p><a href="http://plinkhq.com/i/1456467014" target="_blank">1-click play or subscribe on your favorite podcast app</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank"> iTunes</a> or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank"> Spotify</a> </p><p>&nbsp;</p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank"> our Alexa skill here</a> - "Alexa, play the Compound show!"</p><p>&nbsp;</p><p>Talk to us about your portfolio or financial plan here: </p><p><a href="http://ritholtzwealth.com/" target="_blank">http://ritholtzwealth.com/</a></p><p>&nbsp;</p><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>“Prior to reading&nbsp;<em>Expected Returns</em>, I had a very narrow view of asset allocation and portfolio construction. Like most investors, I viewed diversification through the singular lens of asset classes, i.e. stocks vs. bonds. Through the effective use of two visual aids, this book turned that notion on its head.”</p><br><p><strong>Phil Huber</strong>&nbsp;is an enthusiastic participant in the financial blogsphere and the CIO of&nbsp;<a href="https://huberfinancial.com/" target="_blank">Huber Financial Advisors</a>. Tadas got Phil on the phone to talk about a recent post of his entitled “<a href="https://bpsandpieces.com/2019/05/20/my-investing-bible/" target="_blank">My Investing Bible</a>” where he discusses how the book,&nbsp;<em>Expected Returns</em>&nbsp;by&nbsp;<strong>Antti Ilmanen</strong>&nbsp;changed how he thought about investing.</p><br><p>You can read more about Phil at his blog&nbsp;<a href="https://bpsandpieces.com/2019/05/20/my-investing-bible/" target="_blank">bps and pieces</a>:</p><p><a href="https://bpsandpieces.com/2019/05/20/my-investing-bible/" target="_blank">https://bpsandpieces.com/2019/05/20/my-investing-bible/</a></p><br><p>Enable our Alexa skill here - "Alexa, play the Compound show!"</p><p><a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ</a></p><br><p>Talk to us about your portfolio or financial plan here:</p><p><a href="https://ritholtzwealth.com/" target="_blank">https://ritholtzwealth.com/</a></p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer if you seriously need this spelled out for you.</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh is joined by Jeff Macke to discuss the latest quarterly earnings reports from Target, Walmart, Nordstrom and more! </p><br><p>Enable our Alexa skill here - "Alexa, play the Compound show!"</p><p><a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ</a></p><br><p>Talk to us about your portfolio or financial plan here:</p><p>http://ritholtzwealth.com/</p><br><p>Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms &amp; conditions disclaimer:</p><p><a href="https://thereformedbroker.com/terms-and-conditions/" target="_blank">https://thereformedbroker.com/terms-and-conditions/</a></p><p>&nbsp;</p><p>Subscribe to the mini podcast on<a href="https://itunes.apple.com/us/podcast/the-compound/id1456467014?mt=2" target="_blank">&nbsp;iTunes</a>&nbsp;or<a href="https://open.spotify.com/show/5VKsKPZUtwVylxslLie36k?si=W5sikLxWR0avObQlrLqlmw" target="_blank">&nbsp;Spotify</a></p><p>Enable<a href="https://www.amazon.com/Ritholtz-Wealth-Management-LLC-Compound/dp/B07P777QBZ" target="_blank">&nbsp;our Alexa skill here</a>&nbsp;- "Alexa, play the Compound show!"</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>