Goldstein On Gelt

Doug welcomes Meb Faber, chief investment officer of Cambria Investment Management, to the show to discuss why people have a hard time finding the right investments. Listen as they explore common mistakes investors make when choosing their investments. Meb reveals a good investment that is commonly overlooked: investing in a financial advisor. Meb expounds on why a money manager is a sound investment. There are many ups and downs in the investment world, and having a financial or advisor is a great way to navigate the market. He also gives helpful advice on how to introduce risk into your portfolio with international investing. A personal story about investing in real estate Doug discusses the challenges his family is facing now that his parents’ home is on the real estate market. Before you decide to buy an investment property, listen to Doug’s experiences and decide if owning real estate is right for you. This is a reality check worth hearing! To learn more about Meb Faber, listen to his financial podcast.

Ellen Rogin, CPA, CFP®, and The New York Times bestselling author of Picture Your Prosperity: Smart Money Moves to Turn Your Vision into Reality joins the show to help motivate listeners to reach their financial goals. You can do it! Ellen and Doug talk about the effectiveness of imagining your ideal life as a motivator towards making good decisions. Ask yourself, “What would my ideal retirement look like? How would I feel?” These questions are important when setting financial goals. For most people, this exercise motivates them to make smart money decisions so they can turn their daydream into reality. Ellen encourages the use of a “vision board” for goal setting. She expounds on what a vision board is and how a future retiree can use it to illustrate their financial and life goals. Learn how your imagination can help you make smarter financial decisions! Do you have a big financial decision coming up? Make a plan! Doug shares the story of a couple who didn’t plan well for selling their house. He recounts th

Tobias Carlisle, author of Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations joins Doug to discuss the difference between deep value investors and franchise investors. What type of investor are you? You’re a deep value investor if you look for small companies that have the potential to be great. The deep value method is a long-term approach that requires in-depth analysis of the company in question… and a bit of wisdom. Companies on the verge of liquidation can be purchased at a “discounted” rate and may turn a profit when the company is liquefied, or the market improves. Tobias reveals the number one mistake deep value investors make when they purchase a business. Did you – or will you – receive an inheritance? Often, added to the pain of losing a loved one, is the angst of what you should do with an inheritance. As a financial advisor, Doug sees many people make costly mistakes when they receive an inheritance. There are many details involved in managing an i

Doug makes a convincing case for REITs (Real Estate Investment Trusts) for people wanting to invest in real estate. REITs may be a good alternative for people who want to own real estate but want to avoid the “mess” of being a landlord. Doug explains what a REIT is and its potential benefits. He also discusses the problems of doing business outside of the U.S. with “packaged products.” Listeners will learn what a “packaged product” is and why it is considered a PFIC (Passive Foreign Investment Corporation) by the U.S. government. How can new investors get started? Jane Barratt, the founder of Goldbean, an education platform for beginning investors, shares her company educational programs to help new investors. She outlines some of the common hang-ups and problems beginning investors have, and then offers the solutions her company can provide. Jane emphasizes the importance of attitude and the willingness to learn. She explains how the Goldbean platform is able to teach and mentor, in order to help investors r

Professor Elinor Ostrom, winner of the 2009 Nobel Prize in Economics, explains what common pool resources are and how this concept encourages preservation of the environment. We were privileged to interview Professor Ostrom a few weeks before she passed away in 2012.

Have you been approached by a “too good to be true” offer or other investment scheme? Many people are tricked by questionable investment offers. What’s the biggest mistake these people make? They don’t read the fine print. Doug stresses the importance of understanding all your investments before making a financial decision. He suggests consulting a professional money manager or a trusted advisor who understands money and your own financial situation. Financial predators rely on the fact that people frequently make rash decisions in an effort to grow their money. Avoid the dark side of the investment world and promises of super high returns. Everything you need to know about personal finance can be written on an index card Doug welcomes Helaine Olen, the co-author of The Index Card: Why Personal Finance Doesn’t Have to Be Complicated to discuss her book. Helaine tells Doug the story about “the index card” and how it inspired her and her co-author, Harold Pollack. Would you believe that everything you need to k

Has the firm holding your U.S. brokerage account asked you to transfer your assets out because you no longer have an American address? Doug shares an experience he had when he helped an American living in Israel with their U.S. brokerage account. There are certain issues investor needs to know before moving their U.S. based assets. When that dreaded letter comes in the mail, Doug has insights on how to find a brokerage firm that will hold your account, even if you live overseas. What do Gen X and Y want from a financial planner? Katie Brewer, CFP ® and president of Your Richest Life, discusses the differences between investors from Generation X and Y and more traditional investors (retirees). Gen X and Y haven’t yet retired, so why should they meet with a financial planner? Kate talks about how couples can juggle their various financial concerns, and gives tips on how to overcome having uncomfortable financial discussions with your spouse. To learn more about Your Richest Life Planning, check out Katie’s webs

Want to learn about a solid strategy to diversify your investments? Doug recalls his interview with Nobel Prize winner Dr. Harry Markowitz about Modern Portfolio Theory. The conversation gave practical advice about using market analysis to find the right investments for a well-diversified portfolio. (Listen here to their discussion) If you don’t want to build a diversified portfolio by yourself, you can work with a money manager. Investors should interview money managers and ask what diversifying strategies they use. A risk-return analysis is essential in today’s market Jesse Felder, the creator The Felder Report, expresses concerns about the current bull market. Jesse has a long history on Wall Street and he has seen investment trends come and go. What will happen now? He points to the expertise of shrewd investors like Warren Buffett to learn a strategy that is evergreen, yet flexible with the market changes. Traditional methods of investment are changing and investors need to be realistic with their invest

The host of the Mo’ Money Podcast, Jessica Moorhouse tells Doug what millennials need to know about investing. They discuss the financial difficulties the millennial generation deal with and how that poor preparation can be countered. Jessica emphasizes the ideal financial plan of both reducing debt and investing money for the future. One of these planning techniques is creating smart money habits, which are the surest way to meet financial goals and to prepare for what the market throws your way. Jessica shares some of these smart money habits and how to establish them. Doug will be teaching a class soon! Doug will be teaching an MBA class in finance at Webster University. The course will be based on the principles laid out in his book Rich as a King: How the Wisdom of Chess Can Make You a Grandmaster of Investing. The book was co-authored with Susan Polgar, a Grandmaster in chess. Believe it or not the game of chess and investing have a lot in common. Doug will outline some of the topics he will cover in hi

Does fear drive your international investing decisions? Listen for tips on how to minimize your fear of investments. Don’t let what might happen affect your decision making. Bearing that in mind, Doug also suggests that diversifying the currency in your portfolio is crucial for people who save in one currency and spend in another. Be sure your investment decisions are within your comfort level. International investments raise many questions especially when currency diversification comes into play. It’s important to find a balance between who you are, what you need, and your tolerance for risk. Doug answers the question of whether expat investors needs to sell off their U.S. investments. He also explains why many U.S. firms have a “no non-U.S. client” policy. If you have overseas investments, or would like to have U.S. investments, Doug gives practical advice about finding a cross-border money manager. Be sure to download a free resource for non-U.S. residents who want to open U.S. accounts by clicking here.  

Christine Benz, the author of Morningstar's 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances and senior columnist for Morningstar returns to talk withDoug about how investors can use the “bucket strategy” to manage their fear of risk. She shares how investors can manage risk in this “war on savers” market. In today’s current market, risk is becoming more of a necessity. Christine explains how to balance the old methods of retirement planning with being more open to risk and how to make dividends work for you. Getting married? Consider Doug’s advice about merging your finances. When people get married, there are financial discussion to be had, aside from how the wedding will be paid for. Doug has 6 steps a couple should follow before they get married and combine their finances. He discusses how well you should know your partner’s spending habits, and why a good money manager is worth the investment. Make sure to share these points with any young couple you know. You can find Christine

Michael W. Zisa, a high school finance teacher and author of The Early Investor, is an advocate of teaching personal finance so kids can start investing at an early age. Michael shares what it’s like to teach young investors to make wise and informed investments. He describes the encouraging response to his class and what are some of the investment basics he covers with his students. Why joint brokerage accounts may be good for spouses, but not for siblings Sometimes a brokerage account is setup for two or more people, especially when it was set up by a parent. Doug gives some examples of when splitting up a brokerage account is a good idea, and identifies when a joint account is desirable. Michael W. Zisa is the author of The Early Investor and can be found at becomeanearlyinvestor.com and @investinggeek on Twitter. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.

Can decision fatigue be partly to blame for a bad investment choice? Nyle Bayer, an experienced money manager, examines what decision fatigue is and how it can cause you to make poor investment choices. Nyle has worked in the financial sector for many years with his father who is also a financial advisor and CFP®. He discusses what factors he has personally observed that could result in a bad investment choice, and why men and women approach investing differently. Do you ever wonder if Doug takes his own advice? Doug has an exciting announcement! His daughter announced her engagement to a wonderful young man! For years, listeners have followed Doug’s advice on how to plan for major life milestones like a wedding or buying a home. He shares how well his advice has worked for him and his family during this happy time. You can follow Nyle at The Financial Time Traveler and at @NyleBayer. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Re

Professor Tomas Lindahl, winner of the 2015 Nobel Prize in Chemistry, talks about his research with DNA and the human genome. Dr. Lindahl shares insights about the vulnerability of your DNA… and how it might be possible to fix it. Is a cure for cancer on the horizon? Discover why medical research is one of the most important investments there are.

Professor Robert C. Merton, winner of the 1997 Nobel Prize for Economic Sciences and professor of finance at the MIT Sloan School of Management, explains how a longer average lifespan affects retirement planning and what you need to do to plan for your old age today. Follow Professor Merton at: www.robertcmerton.com

Professor Robert Shiller, winner of the 2013 Nobel Prize in, and author of Finance and the Good Society, talks about how financial institutions and innovations could ultimately be used to improve the quality of society. How can high finance be used to reduce inequality among people? Follow Robert Shiller at www.robertshiller.com

Professor Arieh Warshel, winner of the 2013 Nobel Prize in Chemistry, talks about the role of chemical processes in daily life and how these aid scientific breakthroughs. Find out why there has been a “brain drain" in recent years, as many scientists and researchers look for research funding abroad, and what expat Israeli intellectuals are doing about academic boycotts.

Economics Professor Alvin Roth of Stanford University won the 2012 Nobel Prize in Economics for his work on market design. What is "market design," and how can it be applied to kidney donation, getting married, and medical students choosing residency programs?

Professor Robert Aumann, winner of the 2005 Nobel Prize in Economics, explains game theory, how it works, and how it can it be applied to making financial decisions.

Professor Edmund Phelps, winner of the 2006 Nobel Prize in Economics, and author of Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge and Change, discusses how mass innovation and the creation of new products leads to national prosperity. What do people need to encourage them to think of new ideas? And how do new ideas help spread prosperity? For a video version or transcript of this episode, go to http://goldsteinongelt.com/nobel-prize-winner-interviews/edmund-phelps