A Wealth of Common Sense. Investor, author, and host of Animal Spirits podcast, focuses on simplifying finance for everyone; has backed over 200 companies.
Everyone is trying to put the massive AI spend by technology companies into context.
The easiest historical analogies are the telecomm buildout in the 1990s dot-com bubble and the railway bubbles of the 1800s. Each period was defined by excessive infrastructure spending, investor euphoria, and bubbles that popped but still had lasting positive effects.
I’m familiar with the railway bubble because I wrote an entire c...
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On today’s show, we discuss:
IRS guidance on compliant staking with crypto ETPs
The difference between proof-of-work and proof-of-stake tokens
A move toward distributions being paid from staking rewards on cryptocurrency ETPs
The downsides of staking, including illiquidity and slashing risk
The pipeline of tok...
A few months before he died Pope Francis offered some advice to his fellow preachers on how to approach a homily to the congregation:
Speaking off-the-cuff, Pope Francis urged preachers to transmit “one idea, one sentiment, and one invitation to action” within at most 10 minutes.
“After 8 minutes, preaching gets dispersive and no one understands,” he said. “Never go over 10 minutes, ever! Thi...
Spencer Jakab at The Wall Street Journal makes the case that we could use a long bear market:
He explains:
The average time to reach the previous high when a bear market was accompanied by a recession was 81 months. It took just 21 without a recession. Over the past 16 years, downturns have lasted less than eight months before the old high was reached.
Hardly anyone younger than 40 now even had a 401(k) during the 2007-0...
Bill Sweet was on the show again this week to help me answer questions about selling in a tax-efficient manner with big capital gains, Roth 401ks, paying for a home remodeling project, Roth conversions and HSAs.
Further Reading:
Ben Graham & Bull Market Brain
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