We review the ten asset categories that trade on major stock exchanges, many of which are smaller niches in which individual investors have an edge over institutional investors. How to invest in business development companies, a small segment of the markets that has returned 9% annualized with dividend yields of 8%. Topics covered include: How securities trading has changed and why are there so many trading platformsWhy do institutions still pay trading commissionsWhen did stock exchanges start and which are the largestWhat are direct and indirect investment vehiclesWhat are the ten asset types that trade on stock exchangesHow to invest in business development companies (BDCs) For more information on this episode click here. Sponsors Wealthfront - get your first $5,000 managed for free for life LinkedIn - post your first job for free Show Notes New York Stock Exchange (NYSE)—Corporate Finance Institute Off-Exchange Trading To Continue To Grow In US by Shanny Basar—Traders Magazine How We Analyzed Wall Street Block Trades by Liz Hoffman, Corrie Driebusch, and Tom McGinty—The Wall Street Journal U.S. Institutional Equity Trading Commissions Jump 25% to $8.9BN in 2021, According to Bloomberg Intelligence—Bloomberg Largest stock exchange operators worldwide as of December 2021, by market capitalization of listed companies—Statista Total Market Value of U.S. Stock Market—Siblis Research ETFGI reports the ETFs industry in the United States ended 2021 with record high assets of US$7.21 trillion and record net inflows of US $919.78 billion—ETFGI REIT Industry Financial Snapshot—Nareit Mortgage REITs—Nareit Closed-End Fund Assets and Net Issuance—Investment Company Institute Investor Bulletin: American Depositary Receipts—U.S. Securities and Exchange Commission What is an ADR?—Stock Market MBA Direct Lenders in the U.S. Middle Market by Tetiana Davydiuk, Tatyana Marchuk, and Samuel Rosen Business Development Companies (BDCs)—Levin Law Related Episodes 318: What Are SPACs and Should You Invest in Them? See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week, we revisit a classic episode released five years ago. In a newly recorded introduction, David shares the background on the episode and why he chose to release it again in its newly edited form. Topics covered include: The availability heuristic and confirmation biasHow to deal with extreme events when most days are just like the day beforeHow chaos and unpredictability is used as a leadership strategyWhy do we need a point of view to guide our actions when investingHow to manage financially in a increasingly complex and risky world Show Notes Uncertainty – Lawrence M. Krauss – Edge Regression To the Mean – James J. O’Donnell – Edge Excerpts from Seth Klarman’s 2016 year end letter to his clients as quoted in the New York Times Messy: The Power of Disorder To Transform Our Lives – Tim Harford Seth Godin Course on Presenting To Persuade Ultra-Easy Money: Digging The Hole Deeper? – William R. White See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.