Episode Details

Rule Seven of Financial Physics says there is no new news: by the time public information reaches you, the market has already reacted.

Don and Tom explain why neither headlines nor illegal insider tips offer ordinary investors a durable edge, why fast trading and miracle systems disappoint, and why accepting market returns is the saner path.

Then they compare JAAA with BND, help a student balance FAFSA concerns with emergency savings and a Roth IRA, warn against reaching for yield, and untangle a Roth 401(k) rollover.

0:44 The shortest investing book
1:54 Rule Seven: No New News
3:27 Public information versus insider information
6:48 Why trading the headlines is futile
9:37 Efficient markets and accepting market returns
11:27 The trouble with miracle trading systems
14:13 Talking Real Money music online
17:17 JAAA versus BND for bonds
20:21 FAFSA, emergency savings, and a Roth IRA
22:28 Reaching for yield with riskier bonds
24:49 Rolling over a Roth 401(k)

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