In this milestone 400th episode of the BE SMART podcast, hosts Cameron and Jared discuss a range of topics including post-election market reactions, implications of capping credit card interest rates, the AI frenzy in private equity, predictions for Bitcoin, and the impact of new government efficiency initiatives. They also dive into key cabinet picks, economic implications of potential layoffs, and answer questions from Jared Dillian Money readers about real estate and the dollar’s status.

In episode 399 of the BE SMART podcast, Cameron and Jared discuss the aftermath of the recent US presidential election, as well as economic initiatives in West Virginia, market reactions including Bitcoin and bank stocks, the Federal Reserve’s future under Trump, and the implications for private equity.

In episode 398, Cameron and Jared discuss the 2024 election and its implications for the market, including predictions and trading strategies. They dig into inflation and the cost of living, exploring how these factors affect consumer sentiment, before shifting to popular topics on the personal finance subreddit, offering advice on car and home ownership, investment strategies, and retirement. The conversation concludes with a look ahead to the Federal Reserve meeting and future plans.

Elon Musk says he plans to award $1 million a day to a randomly chosen voter… this year’s furious rally in US stocks is poised to extend into the final stretch of 2024, even as the US presidential election looms as a major wild card… gold reaches a record high on Monday… and Bitcoin does Bitcoin things, flirting with $70,000 before pulling back. In episode 397 of the BE SMART podcast, Jared and Cameron discuss these major headlines, earnings, and more.

Private equity pours millions into HVAC and plumbing trades, worldwide efforts to reverse the baby shortage fall flat, and prices ease for used cars and some grocery items as the inflation cooldown continues. In episode 396, Jared discusses how his new site, ShortPrivateEquity.com, complements his Big Short 2.0 idea on the brewing collapse of the private equity market; the push to incentivize people to have children by dangling tax exemptions in front of them; and how 2025 could bring a big resurgence to inflation numbers.

In episode 395, Jared and Cameron cover topics ranging from his short story collection NIGHT MOVES to insights on the bond market and how strong jobs data impacts rate cuts moving forward, oil prices, and the dualities present in the current economic landscape. Jared emphasizes the importance of having cash on hand for emergencies and shares his thoughts on navigating risks in equities.

Jared and Cameron explore various market trends, including the surprising performance of stocks in September when you look at past performance throughout the years, insights into the energy sector, and the challenges facing the housing market. They discuss the implications of insurance costs in real estate, the political landscape's impact on the economy, and reflect on the first six short stories in Jared’s new short story collection, NIGHT MOVES. Grab your copy of NIGHT MOVES here!

In episode 383 of the BE SMART podcast, Cameron and Jared discuss the release of Jared's new book, NIGHT MOVES, market trends, the bullish momentum of gold, Trump's proposal on credit card interest rates, insights into the job market, and upcoming economic data. They also explore the implications of Fed rate cuts and the current economic environment. Grab your copy of NIGHT MOVES here!

In this episode of the BE SMART podcast, Jared and Cameron discuss a range of topics, including the upcoming launch of Jared’s book NIGHT MOVES, the implications of political violence on economic conditions, the relationship between commodities and human progress, market trends and potential interest rate cuts, and strategies for investing in bonds. They touch on the current state of the economy, the importance of understanding market dynamics, and the need for investors to stay informed about upcoming data releases and Fed decisions.

In the first trading week of September, the S&P 500 fell 4.2%, the monthly jobs report showed the labor market added fewer jobs than expected, and weak manufacturing data led stocks to their worst day since early August. In episode 391, Jared discusses market volatility and economic data, as well as topics such as Apple’s AI selling point for its new generation of iPhones, Donald Trump’s proposed government efficiency commission headed by Elon Musk, and Kamala Harris’s idea to introduce a 25% minimum tax on total income (including unrealized capital gains) for individuals with wealth over $100 million.

Jared and Cameron discuss Jared’s upcoming short story collection, NIGHT MOVES, before diving into commodities and skepticism toward Goldman Sachs’ copper forecast. They also discuss the recent decline in Nvidia’s stock price and its implications, the outlook for stocks in September, the use of puts as an alternative to short selling, and the allocation of new investments in the Awesome Portfolio.

In this episode of the BE SMART podcast, Jared and Cameron discuss various topics, including key market headlines, such as the upcoming Jackson Hole Symposium in Wyoming, the VIX’s unprecedented turnaround, and Kamala Harris's plan to stop price gouging. They also discuss the importance of teaching personal finance in schools before diving into the mailbag to answer a question about the Awesome Portfolio.

The collapse of the real estate market in 2008 nearly brought the global economy to its knees, but a few saw it as an opportunity to change their lives. Today, we’re facing a similar moment—this time in private equity. While we might not sink as low as the near-depression levels of 2008, a downturn in private equity could still turn a recession into something much worse… but there’s still an opportunity to get ahead of it. In this special edition of the BE SMART podcast, Jared and his co-host Cameron cover the problems surrounding private equity and the actionable, step-by-step moves needed to trade something of this magnitude.

On Monday, the Dow dropped 2.6%, the Nasdaq lost 3.43%, and the S&P 500 slid 3%. The Dow and S&P 500 registered their biggest daily losses since September 2022. On top of that, cryptocurrencies sank; the VIX skyrocketed; investors piled into Treasury bonds; and Japan’s stock market posted its worst drop since Wall Street’s Black Monday in 1987, contributing to fears of global turmoil in the markets. In episode 387, Jared discusses recession fears, the importance of having short positions in a stock-based portfolio, and how traders can insure their portfolios against an extreme market crash. Plus, mortgage rates and the one thing younger generations should focus on when looking to buy a new home.

In episode 386, Jared breaks down various topics including market volatility, McDonald's earnings and consumer spending, Bitcoin, mortgage rates, personal finance questions from Reddit, and upcoming events such as the Federal Reserve meeting and the July jobs report. He addresses Reddit users’ concerns such as how to prepare for your parents’ golden years when they haven’t, emergency funds, what to do with your savings, and investment strategies.

In episode 385, Jared discusses recent political developments, their impact on markets, and whether the Trump trade is still in play. He also follows up from last week’s episode on the potential for a rotation into small caps… plus, company-specific headlines surrounding Verizon (VZ) and Delta (DAL), uncertainty and volatility in the market, and why his Strategic Portfolio makes sense as a “safe money” investing solution.

Following the attempted assassination of Donald Trump, Jared discusses the idea of the “Trump trade” gaining momentum as the US nears its 2024 election, how black swan events tend to cluster, and the mispricing of volatility. He also addresses declining inflation, the potential for the Fed to cut rates, and how small caps are showing signs of a comeback.

In today’s episode, fresh off an interview at the Schwab Network in NYC, Jared reveals the weirdness of the New York Stock Exchange, as well as topics such as Nvidia’s recent 10-for-1 stock split, California’s bump in minimum wages, greedflation and rising fast food prices, and why it’s a bad idea to finance used cars. He also addresses readers’ questions, including his thoughts on the FDIC’s $250K insurance limits and people’s irrational fear that the US dollar will lose its status as the reserve currency.

In episode 382, Jared discusses why he thinks private equity is one of the biggest bubbles of all time, as well as Roaring Kitty’s blatant market manipulation with GameStop, Donald Trump, where to begin your investment journey, and an outlet for market junkies. He also dives into the mailbag to tackle concerns such as cash positions, money market funds, and paying taxes on gains before addressing the week ahead, including payrolls and the upcoming Fed meeting. Time stamps: 1:12 — Market headlines 5:01 — Investing: beginner to market junkie 7:52 — Private equity and gold 13:45 — The week ahead

People pour their hearts out on Reddit. In episode 381, Jared and Cameron tap into personal finance subreddits, addressing questions about payday loan apps, when to repair your vehicle versus buying a new one, mortgages and retirement, negotiating for a higher salary, steps to achieving financial comfort, and… clogged cats?

Anytime a new technology is developed, there's an initial hype phase where money pours into the space, which leads to overinvestment and malinvestment. Then you enter the Valley of Despair before getting a second bull market years down the line. In episode 380, Jared clarifies why we may be close to completing the first runup in AI, why crypto has no place in the Awesome Portfolio, why he’s so bearish on Google, the 2024 election, and more.

Would you have more money if you didn’t buy coffee? Perhaps marginally more, but it’s a rounding error in the grand scheme of things. Stop focusing on the little things that don’t matter. Buying coffee is peewee stuff that just does not matter, and you have these so-called financial “experts” focused on this kind of stuff, alienating everyone in the process. There are so many other things you should be focusing on to improve your financial well-being.

Having money in stocks and mutual funds that perform well doesn’t mean you’re creating wealth. In that case, you’re just a passenger along for the ride on the back of someone else. Creating wealth could mean starting a business or showing up to work and producing value that exceeds what you are paid. In episode 378, Jared discusses the difference between creating and destroying wealth, as well as the president’s impact on the US economy.

No, it’s not choosing the right mutual fund to invest in or opting for a 15-year mortgage instead of a 30-year one. Not even paying off all your credit cards cracks the top three. The three biggest financial decisions you will ever make include choosing the right person to marry, your career, and where to live. In episode 377, Jared breaks down why these choices are so crucial to get right—because getting them wrong can do serious damage in the long run.

Mutual funds let you pool your money with other investors to buy stocks, bonds, and other securities. They’re run by professional money managers who decide which securities to buy (stocks, bonds, etc.) and when to sell them. Here’s the thing, though: Mutual funds are not free. That said, they’re inexpensive, but that doesn’t stop people from getting worked up over fees. In episode 376, Jared explains why we should stop complaining about fees… especially when they’re near zero already.

In episode 375, Jared maps his evolution from “class warrior” as a kid in Connecticut to his college years when he dabbled in objectivism to his present-day views on the likes of Jeff Bezos. He breaks down the philosophical basis for the revolution that swept through the world in the 1970s and ’80s (influenced by prominent figures such as Ayn Rand, Margaret Thatcher, Ronald Reagan, Friedrich Hayek, and Milton Friedman) and discusses how people’s thinking on economics is totally backward these days.

In episode 374 of the BE SMART podcast, Jared demystifies the key to deal negotiation for a home and why, as a buyer, you should be making a series of negative comments to your realtor to bring the price of a house down. Everything in real estate is negotiable, and it’s a bit like playing cards—meaning it’s helpful to know which cards a seller is holding. You don’t want to be a “people pleaser” when negotiating for a house. It never hurts to ask for something you want included, whether it be the drapes or a piece of furniture.

There are points in time when producers have pricing power, and there are other times when they don’t. This concept is known as demand elasticity. If something has elastic demand, companies can’t raise prices much or else demand will go down. On the flip side, if something has inelastic demand, it doesn’t matter how much prices increase because people will still pay for it. In this episode of the BE SMART podcast, Jared discusses how demand elasticity impacts consumer spending habits, people’s perception of value, and whether you should ditch a company like Netflix when it jacks up its monthly subscription price.

Catastrophic thinking is when you believe that something terrible is always going to happen, like a divorce, a fatal illness, or devastating financial hardship. A lot of people suffer from it and are susceptible to this mindset, which can cripple your relationships and personal goals. What it boils down to is fear, but the possibility that something earth-shattering will happen to you is lower than you think. Bad things happen, of course, but there is one key solution to overcoming a negative mindset and putting yourself in a healthier frame of mind to succeed.

No stock is “safe,” but blue-chip stocks tend to be the safest. That’s why, if you go to a financial advisor, they’re likely to load you up on stocks found in the Dow Jones Industrial Average—the Boeings and Microsofts of the world—because it’s a strategy that’s much harder to screw up than others. In this episode, Jared discusses risk, growth, the sad reality of the brokerage industry, and the key to financial success as an investor.

Fun fact: Most people in the finance business believe in crazy, ridiculous conspiracy theories. It’s astounding the type of stuff people believe in—like, for instance, that a shadowy government organization buys large quantities of stocks or futures to bleed short sellers and turn a profit. In this episode of the Be Smart podcast, Jared discusses why so many people perpetuate conspiracy theories and how their mentality seeps into everyday situations.

Financial Independence, Retire Early (FIRE) is a movement defined by frugality and extreme savings and investment. It’s also a dumb philosophy. Why? Because it is a perfectly normal human desire to accumulate material positions. Consumption is not immoral, and depriving yourself for several years only to continue living in deprivation doesn’t make any sense. The FIRE followers have it backwards: You don’t gain self-esteem and happiness from no stress. You get these things from overcoming stress through work and achievement.

Not having a lot of debt, minimizing your exposure to risk, and having financial security are all ways to deal from a position of strength. Sure, having more money often helps, but not always. There’s more to it than that, which we’ll dive into, along with six key things you must do to eliminate financial stress and put yourself in a position of strength.

There’s a lot of money out there. We have printed trillions of dollars. Let’s put it this way: There is no shortage of money. Really, there’s a surplus, and it’s not that hard to come by. You don’t need to starve yourself or keep the thermostat at 60 degrees in the winter to save money. What it comes down to is a change in attitude. Instead of thinking that money is hard to come by, you need to embrace the idea that it’s easy to get… you just need to know how to do it.

A lot of people say they want to get rich, but most of the time, these people are full of it. Being rich is a lot harder than it seems—a rich person’s life gets much more complicated once they become rich. More houses, cars, bank accounts, greater investments, and rising taxes… it’s a lot to keep track of, and it can create a lot of added stress. Truth is, if you like leading a simple life, you won’t like being rich. Let’s talk some of the complications that come with more money…

If you get into a top-tier school, like Harvard, you must go. But what about second- and third-tier schools? It’s not always a no-brainer based on the cost. Student loans can be crushing, and you need to factor in your return on investment via earnings potential, especially in a world where student graduates are netting $55K a year for sales jobs while high school dropouts receive offers for $110K for trucking jobs. Luckily, I have a rubric to help you determine whether you can (and should) enroll in college…

There’s an old saying: “Nothing ventured, nothing gained.” If you want to make money, you must take the risk… because sitting idly and wishing to make money is not going to yield positive results. In today’s episode of the Be Smart podcast, Jared discusses the ways people fall backwards into money, what you should do if you come into a windfall, and the value of cash.

John C. Bogle, the founder and chief executive of Vanguard who is credited with popularizing the index fund, was only worth about $20 million when he died in 2019. Sure, that’s nothing to sneeze at, but he created something so revolutionary that he could have been a billionaire many times over. His idea transformed the entire asset management industry, and it’s still transforming it to this day. Yet he was only worth $20 million? In today’s episode, Jared reemphasizes the idea of choosing to make more money. Because remember: Money is a choice, and guess what? Making more money DOES affect your level of happiness. It’s okay to want more, but it also can’t become an obsession…

What is a hedge fund? In today’s episode of the Be Smart podcast, Jared discusses the ins and outs of hedge funds (including the different types), why they are not magic money machines despite rich people’s inclination to invest in them, and the distinction between absolute returns and relative returns.

Capitalism doesn’t suck just because you’re bad at it. Capitalism is a competition. Life is a competition. But that’s what’s so great about the US: There are so many opportunities if you want to take advantage of them. Are you ready to compete in the free market? Dive into today’s episode of the Be Smart podcast, where Jared discusses how to better position yourself in a capitalist society and succeed.

Growing up in poverty scars us for life and distorts our relationship with money. The good news: It helps us develop mindful financial habits. The bad: We often don’t experience life to the fullest because we’re always waiting for the next shoe to drop. In today’s episode of the Be Smart podcast, Jared discusses frugality, why so many people carry around financial trauma, and surviving versus thriving.

The mark of a good person is the ability to be genuinely happy for another person and their success. In today’s podcast, Jared discusses how envy often creeps into the DNA of garbage human beings, inspirational “rags to riches” stories, and what it takes to succeed.

You can’t just sit around and expect a million dollars to fall into your lap. It doesn’t work that way. The first step to getting more money is wanting it. And it’s okay to want more money; it doesn’t automatically make you a greedy person. In today’s episode, Jared discusses money-conflicted people and, conversely, ways to grow your wealth if you embrace earning more.

Long-time guest David Mannen joins Jared Dillian to catch up on summer happenings, including writing short stories and the “just do it” mentality, student loans, how politicians often mirror TV evangelists, baseball, anti-intellectualism, the polarization of Donald Trump, and more.

If you're going to spend money, spend money on quality stuff—not junk that’s destined to end up in the landfill in 12 months. Jared discusses buying items that last, ways to spend money on experiences that won’t break the bank, and certain types of irresponsible purchases to avoid.

The little stuff does not matter. If you want to buy the fancy name-brand Ziploc bags, buy the Ziploc bags. The accumulation of small decisions does not add up to a meaningful amount of money. It's not going to change your life. Remember, it's not the million little things that matter. It's the major expenses—the house, the car, and the student loans—that require vigilance.

Spending money to try new things and experience new places is priceless. But people won't do it. They get stuck on the number in their bank account, which causes them to miss out on a lot of life. While excessive or frivolous purchases can be regrettable, a lot of the time you will regret not spending money on stuff.

What role does gambling play in personal finance? Are you allowed to gamble if you want to lead a stress-free financial life? Jared answers these questions and more as he recaps his recent trip to Las Vegas.