Our allocation to risky assets should vary based on the expected return, volatility, risk aversion, and how much we can earn risk-free. That means we should be taking less risk right now. Listen to learn why. Topics covered include: Why there are so few billionairesWhy the hedge fund Long Term Capital Management implodedWhy how much to invest is more important than where to investHow the Merton share formula can assist with determining what percent of our wealth to invest in risky assetsWhy are expected outcomes so much greater than the median outcome and why it matters to our investing Sponsors Delete Me - Use code David20 to get 20% off - To get 20% off Delete Me go to https://joindeleteme.com/david20 and use Code David20 Masterworks – invest in contemporary art Masterworks Disclosure: “net IRR” refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the sale date. IRR may not be indicative of Masterworks paintings not yet sold, and past performance is not indicative of future results. See important Reg A disclosures: Masterworks.com/cd  Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter. Show Notes How to avoid a common investment mistake - Buttonwood - The Economist The Missing Billionaires: A Guide to Better Financial Decisions by Victor Haghani and James White Money For the Rest of Us List of Most Influential Books Charles Feeney, Who Made a Fortune and Then Gave It Away, Dies at 92 - New York Times Elm Partners Coin Flip Exercise Evaluating gambles using dynamics - O. Peters and M. Gell-Mann Related Content 250: Investing Rule One - Avoid Ruin Why You Should Rebalance Your Portfolio 196: How to Survive Financially See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What are the economic and financial system early warning signs that we should heed rather than get caught up in fearmongering? When should we start to worry about ballooning budget deficits, the national debt, a currency collapse, or the stock market? Topics covered include: Signals to monitor to see if things are falling apartHow much government debt is too much and why interest rates are keyWhy central banks don't control the stock marketWhy the dollar remains dominant, and what has to change for it to plummet in value Sponsors Money Pickle – Schedule a free 45-minute video chat with a vetted financial advisor and ask them anything about your financial situation. Go here to schedule your free session. LinkedIn Jobs - Use this link to post your job for free on LinkedIn Jobs Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter. Show Notes The Dawn of Everything: A New History of Humanity by David Graeber and David Wengrow—Macmillan How Much Is Enough? Money and the Good Life by Robert Skidelsky and Edward Skidelsky—Penguin Random House U.S. National Deficit—Treasury.gov Budget and Economic Data—Congressional Budget Office Japan's growing debt mountain: Crisis, what crisis? by Andrew Sharp—Nikkei Asia The Dollar: The World’s Reserve Currency by Anshu Siripurapu and Noah Berman—Council on Foreign Relations Currency Composition of Official Foreign Exchange Reserves—International Monetary Fund Total credit to non-bank borrowers by currency of denomination: US dollar—BIS Wonking Out: The Mysteries of the Almighty Dollar by Paul Krugman—The New York Times Revisiting the international role of the US dollar by Bafundi Maronoti—BIS Related Episodes 404: Why Is the U.S. Dollar So Strong? Will It Continue? 416: Your Nation’s National Debt: 5 Things You Need To Know 433: What Happens If The U.S. Defaults On Its Debt? Here’s Why It Won’t See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.