The Best New Strategy is Old

When markets get bumpy, emotions take the wheel—and that’s exactly why Don spends this solo episode reminding listeners that logic, evidence, and simplicity still win in the long run. He digs into why private investments aren't the magic they claim to be (even when Vanguard jumps in), why diversification still beats sexy strategies, and how the best “alternative” to bad investing is simply building a solid plan and sticking to it. Listener calls explore structured products, the Sharpe ratio, reverse mortgages, and how to spot a real fiduciary in the wild.

0:04 Money mistakes, solo hosting, and listener calls

1:17 Market volatility and emotional reactions

2:07 Logic and evidence beat financial “magic”

3:11 Vanguard’s alt fund and private asset hype

4:28 Private equity: opaque pricing, no liquidity

6:16 High-cost alternatives underdeliver

7:41 Vanguard alt fund: high fees, weak returns

9:13 Caller: staying long-term with S&P 500

10:20 Don: diversify beyond S&P with VT

11:30 Sharpe ratio explained; structured product skepticism

13:08 Structured notes: high fees, poor transparency

15:00 Fama quote: Few new ideas ever work

16:03 Caller: What does Berkshire Hathaway actually do?

17:23 Buffett builds value—why you can’t replicate it

20:08 You already own Berkshire in index funds

21:37 Caller: does currency manipulation matter?

23:32 Short answer: not really

25:45 Ignore most financial news—it’s just noise

27:22 Don flying solo this week

27:57 Caller: how to find a real fiduciary

31:16 Why Don doesn’t do meetings, and where to get help

36:12 Caller: reverse mortgages and property financing

39:55 Trusts and protecting assets—call a lawyer

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