This week on episode 510, we share a conversation between Ben Inker of GMO and Greg Dowling of FEG Investment Advisors on contrarian investing, deep value stocks, and the rise of passive investing. David introduces the episode by sharing his key takeaways from the discussion. FEG Investment Advisor is David's former institutional advisory firm, where he worked for 17 years, before founding Money for the Rest of Us. Greg Dowling is Chief Investment Officer of FEG, and David's former business partner and colleague. Topics discussed in the episode include: How experienced professionals can have a significant influence on one's career, such as the impact Jeremy Grantham and David Swenson had on Ben's careerThe impact of the rise of passive investingInvestment opportunities in quality and deep-value stocksThe distinct risks of the high concentration in large-cap tech stocks Show Notes FEG episode page Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Related Episodes 491: The Five Layers of Investing 419: How to Make Portfolio and Asset Allocation Changes 401: Why Diversifying Your Portfolio Feels Awful See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and market-based insurance. Topics covered include: The surprisingly large percentage of natural disaster losses that are uninsuredWhy natural disaster severity is increasingA deep dive into the complexity of the home insurance market, including state-run home insurance plansHow California has tried to update its home insurance regulations, leading to potentially greater coverage but higher premiumsHow socialized insurance relieves the cost burden to consumers but can also lead to riskier behavior and adverse risk selectionEpisode Sponsors Asset Camp NetSuite  Insiders Guide Email Newsletter Get our free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes California wildfires: What we know about L.A.-area fires, what caused them, who is affected and more by Tim Stelloh, Marlene Lenthang, Rebecca Cohen and Phil Helsel—NBC News Climate change is showing its claws: The world is getting hotter, resulting in severe hurricanes, thunderstorms and floods—Munich RE Shaping the Future of Wildfire Insurance in California: New Insights from the Most Comprehensive Wildfire Risk Model in the Market by Firas Saleh—Moody's Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire by Jean Eaglesham and Sara Randazzo—The Wall Street Journal Commissioner Lara issues landmark regulation to expand insurance access for Californians amid growing climate risks—California Department of Insurance California Was Already in Home-Insurance Crisis Before Los Angeles Infernos by Jean Eaglesham and Joe Flint—The Wall Street Journal The World Is Getting Riskier. Americans Don’t Want to Pay for It. by Greg Ip—The Wall Street Journal Reinsurers little exposed to LA fires after retreat from disaster risks by Lee Harris—The Financial Times A Survey of Residual Market Plan Assessment and Recoupment Mechanisms by Nancy Watkins, Robert Lee, and Rehan Siddique—Milliman Related Episodes 481: How to Navigate the Crippling Home Insurance Crisis 444: Natural Disasters: Are They Truly Increasing?  Investments Mentioned Stone Ridge High Yield Reinsurance Risk Premium fund (SHRMX) See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.