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This Week on The Compound
This Week on The Compound
This week on TCAF, Josh and Michael were joined by returning guest Jack Raines of Sherwood News and author of the Young Money newsletter. They discussed betting on the election, The Washington Post's subscriber exodus, red-hot Reddit, why Michael Saylor can't get enough Bitcoin, and becoming a New Yorker. (Listen)
INSIDE THE COMPOUND
The S&P 500 returned 20.97% through the end of October 2024. Gold returned even more. Over the past twelve months, they are pretty much neck and neck. It’s rare that stocks and gold go up (a lot) at the same time. Ben Carlson at A Wealth of Common Sense writes:
I could find just one instance over this 55-year window when both stocks and gold were up as much as they are today simultaneously–when gold was up 49% and the S&P 500 was up 39% in the 12 months ending November 1980.
OUTSIDE THE COMPOUND
Rarely a week goes by that some hedge fund billionaire goes on CNBC or Bloomberg to talk about the direction of the economy, the state of the national debt, or, god forbid, politics. Guess what? You can safely ignore their advice. Why? For one, they know nothing about your financial situation. Two, they are likely overconfident in their opinions. Brian Klass writes:
When someone becomes a billionaire, it’s the ultimate validation of their overconfidence. It’s as though billionaires who are overconfident show up to the high school basketball tryout even though they’re not necessarily good at basketball but nonetheless make the team. Their overconfidence is then reinforced—and they wrongly presume that they’re good at other things too.
NEW SHOW
Over at advisor-focused channel Advisor Unlock, Ben Carlson spoke with Shawn O'Brien, Director of Retirement at Cerulli Associates, about the massive opportunities for financial advisors to grow their business in the defined contribution retirement plan space. (Watch)
COMING SOON
This week on TCAF, Josh and Michael will be joined by returning guest Katie Stockton, Founder and Managing Partner at Fairlead Strategies.
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