RR

[@rationalreminder]

Timestamps: 0:00 Intro 10:19 Cameron's recommendations 17:51 Ben's view on Facebook's one-day $232 billion drop in value 29:15 How to set financial goals 59:51 Discussion with Heather Reisman & kick-off of the 22 in 22 Reading Challenge

[@hangxu2154]

RR has become my Thursday morning ritual. I always find value with your new episodes and go back to old episodes too. Ben blew my mind with his CSI videos that helped reshape my perspective of financial industry. I certainly benefited tremendously as a financial service professional myself. I hardly finish any books before but I have finished reading 5 books this year alone since Cameron mentioned his reading challenge.

[@cameronpassmore1561]

5?! Incredible. Love to hear what you read and see the reviews. My friend code on the app is N62iptx

[@iliandaskalov1789]

I find myself looking forward to Thursdays because of your podcast guys. Thank you for the invaluable content, gentlemen.

[@doctordoak6758]

As soon as you said Gary Gensler, I knew what you were watching. I've watched a lot of them

[@Amir-jn5mo]

Hi Ben and Cameron. I've been listening to your podcasts every week now that I have a full time job with a long commute using public transit. Ordered the Rational Reminder hat last week and wanted to say thank you.I love it. Its pretty soft and comfy. Also thank you for the cool RR socks freebie. Keep up the quality and informative podcasts and the book recommendations :D

[@mriegger]

The goal section was excellent. Would love to see Ben to do another focused video on it on his channel.

[@logsnein963]

So glad to hear Ben is finally doing a deep dive into cryptocurrencies. It always felt to me before that Cameron and Ben were dismissive of the concept without having tried to understand it properly. While it is easy to be a critic of something new and talk about how it has no chance of succeeding (it happened many times in the past with things we now take for granted: internet commerce, sharing economy, etc.), it is much harder to spend time and effort to understand it, and let others to change your mind. That space has an army of talented people working on promising things, and I'm looking forward to hearing more well-reasoned discussions on the topic from RR in the future.

[@BenFelixCSI]

I always find these comments interesting. I have been on this deep dive for a few months now, and my preliminary conclusion is that public blockchains and the coins that serve them have a very limited use case, do not do many of the things they claim to do, and are based on basic economic misconceptions. I had a brief period where I was optimistic, but that did not last long. I have become so interested in debunking the ridiculous hype around this topic that we may launch a separate podcast series on it.

[@logsnein963]

@@BenFelixCSI > have a very limited use case I agree, but doesn't money itself have very limited number of use cases: a medium of exchange, a unit of account, a store of value? Yet it is an instrumental concept for our world, which many other things are built upon. Why can't there be something new that takes a share of that money supply in some use cases?

[@CanadianFinanceSimplified]

@@logsnein963 I'll just chime in that while Ben has always been skeptical, some of the guests RR has brought in and the crypto threads Ben participates in within the RR community have definitely made me feel he's taken a serious look at this for a while.

[@BenFelixCSI]

@@logsnein963 cryptocurrencies are not good units of account or stores of value due to their extreme volatility. Sure maybe stablecoins solve that, but they don't solve the other problems. Cryptocurrencies provide a censorship resistant means to transfer value. For the people who that is useful for, I think the technology is great. It is not designed to compete with centralized transaction systems.

[@Rmoss128]

@@BenFelixCSI fair point. However, none of our centralized transaction systems are named after any dogs. That is one advantage of crypto currencies that is hard to beat.

[@DeletedDenizen]

I had a burning question this last week, as to why some of the best videos in CSI's channel were deleted, and so was very glad when Ben refered one of those at 19:04 (where do stock returns come from). Why did he delete the videos??? *Edit: I now realized he was referencing the podcast episode, and not the eponymous youtube video, but the point stands!

[@rationalreminder]

rationalreminder.ca/podcast/140

[@danajepsen5760]

thanks again for your generosity. sharing your time and thoughts is much appreciated. Ben mentioned the MIT lectures of Gensler that are available on opencourseware. Don't know if it has been pointed out elsewhere, but there is a course of Andrew Lo's that is worth watching for those people beginning their self-directed financial education. Finance Theory I, from Fall of 2008. lots of things happened at that time... so it works as an interesting history lesson as well if i remember correctly.

[@paulonassar7238]

I'd like to read Ben's paper when it comes out. Where would it be available? I love this subject.

[@rationalreminder]

It will be available on the PWL website and in the Rational Reminder community.

[@marikstongue5663]

I'll be very interested to read your paper when it comes out, Ben

[@cameronpassmore1561]

This paper is some of Ben's best work.

[@darkshadows7570]

Was waiting it since morning- no one from Australia

[@kirillshmidt3776]

I have a question: If we cannot find the best stocks, maybe we can exclude worst from S&P500 index to get alpha? Do we have reliable predictors of being bad performer rather than predictors of good performer?

[@rationalreminder]

With factor investing we can sort securities by expected returns. Through this lens it is possible to eliminate the lowest expected return securities from a portfolio. Those tend to be small cap growth stocks with low profitability and high investment.

[@the_blahhh]

One day Facebook will be considered a sin stock and have higher expected returns than the market lol