In this episode we answer emails from Jeff and Colin. We discuss why auto call ETFs and covered call funds usually just change payouts rather than improve underlying performance, why forced income creates forced taxes and reduces flexibility in a taxable retirement portfolio, why building a retirement “paycheck” is mostly a marketing pitch and selling shares is better approach, how to use a small test portfolio as exposure therapy for share selling fears, why global stock diversification often acts like a currency bet rather than true business diversification, and why value versus growth is more meaningful diversifier in drawdowns than US versus international.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Link:

Acadian Article re International Stocks: Putting Portfolios Together when the World is Falling Apart | Acadian Asset Management

Breathless Unedited AI-Bot Summary:

A 13% yield can feel like a warm blanket in retirement, but it can also be a tax bill and a slow leak in disguise. We dig into a listener question about auto call and “high income” ETFs and explain why these products often do not improve expected results. They mainly repackage the same stock market risk into a payout that looks comforting, while reducing your flexibility and sometimes cannibalizing total return.

Then we switch to global stock diversification and the popular claim that de-globalization will lower correlations and make international stocks the missing piece. I explain why broad international index funds can wind up behaving like an indirect currency bet, why the data matters more than the story, and why diversification across business types, especially value versus growth, can matter more when markets are falling. If you really want currency exposure, we talk about why managed futures may be a cleaner, more intentional tool than buying international equities for that purpose.

We wrap with the weekly market snapshot and performance review of the eight sample portfolios, covering US stocks, small cap value, long-term Treasuries, gold, commodities, REITs, preferred shares, and managed futures. If you want practical retirement portfolio management, risk parity style asset allocation, and a calmer approach to drawdowns, hit play, then subscribe, share the show with a friend, and leave a rating or review so more DIY investors can find it.

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In this episode we answer emails from George, James and Yigitalp. We discuss stupid financial media assumptions and the vapid analysis that often follows from them, dig into Mandelbrot and fractals to explain why markets defy neat bell-curve models, then troubleshoot a Golden Ratio style portfolio built with UCITS ETFs, leverage, and diversifiers.

Links:

WSJ Opinion Article: Opinion | You’re Probably Overinvested in Bonds

Blogpost about Mandelbrot and Fractal Math: The Fractal Lens - Prospecting Mimetic Fractals

Misbehavior of Markets Book: The (Mis)Behavior of Markets by Benoît B. Mandelbrot | Goodreads

Zooming In On A Mandelbrot Set Video: Eye of the Universe - Mandelbrot Fractal Zoom (e1091) (4k 60fps) - YouTube

Cool Number Nerd Video: Fibonacci Numbers hidden in the Mandelbrot Set - Numberphile

Breathless Unedited AI-Bot Summary:

“You’re probably overinvested in bonds” is the kind of headline that sounds helpful until you ask the only question that matters: what is your portfolio supposed to do for you? We challenge the lazy defaults that still dominate personal finance content, from treating the 60/40 portfolio like a universal baseline to pushing age-based stock formulas that ignore spending needs, flexibility, and real-world goals. If your plan is to never touch your assets and leave a big bequest, a stock-heavy 90/10 approach can make sense. If you plan to draw from your portfolio, the math and the risks look very different.

We also go deeper on why markets refuse to behave like tidy textbooks. Using Benoit Mandelbrot and fractal finance as the jumping-off point, we talk about fat tails, power laws, and why “average return plus standard deviation” Monte Carlo simulations can create false confidence. Instead of pretending we can forecast with precision, we focus on building portfolios that can survive different economic regimes, a core idea behind risk parity style diversification and more resilient asset allocation.

Then we answer a detailed listener email from a European investor building a Golden Ratio portfolio with UCITS ETFs, including a levered balanced fund, small caps, long-duration bonds, gold, managed futures (DBMF), and a small bitcoin slice. We show how leverage changes your true exposures, why multi-asset levered funds make the math harder, and how to think in exposures first before picking more “diversifiers.” If you get value from this kind of practical portfolio construction talk, subscribe, share the show, and leave a review so more DIY investors can find it.

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In this episode, we share big news from our Fairfax CASA work and what your generosity has made possible. Then we pivot to an email from Todd and go on a deep dive on motivational speakers and what actually helps people change. In a van. Down by the RIVER.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional Links:

Fairfax CASA Donation Page: Donate - Fairfax CASA

Acres of Diamonds: Acres of Diamonds Audiobook | Russell H. Conwell | Full

The Strangest Secret: The Strangest Secret Earl Nightingale Conant 1950's Original FULL

Jim Rohn "Walk Away": Walk Away From The 97 Percent - Jim Rohn

Breathless Unedited AI-Bot Summary:

A “major award” is nice, but the real win is what happens when a community turns attention into action. We start by sharing personal news from our work with Fairfax CASA and a recognition that belongs to all of you as much as it belongs to us: listeners of the show have now raised over $66,000 to support child advocacy for kids navigating the court system after abuse or neglect. We talk about why that mission matters, and why linking money to meaning can keep your long-term plan steady when markets and life get noisy.

Then we pivot hard into a listener question that lets me do what I love: trace the actual history of motivational speakers. We go from Ben Franklin and the self-made habit mindset, through American self-reliance, transcendentalism, traveling lectures, and “Acres of Diamonds,” all the way to the modern personal development industry. Along the way, we separate practical tools from magical thinking, including research on why “manifesting” can backfire by reducing effort. The anchor takeaway is Jim Rohn’s line I keep coming back to: affirmation without discipline is the beginning of delusion.

We close with the weekly risk parity portfolio review and November distributions for eight sample portfolios, covering market moves across the S&P 500, NASDAQ, small cap value, long Treasuries, gold, commodities, and managed futures. If you like asset allocation, diversification, rebalancing, withdrawal rate planning, and a no-hype approach to DIY investing, you’ll have plenty to dig into here. Subscribe, share this with a friend who needs a reset, and leave a review so more long-term investors can find the show.

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