About this channel
What does good financial advice look like, and how can an investor tell whether they are receiving it? Rational Reminder returns to those questions through discussions of investing, wealth and the…
What does good financial advice look like, and how can an investor tell whether they are receiving it? Rational Reminder returns to those questions through discussions of investing, wealth and the relationship between clients and advisers. Its episode selection also makes room for household decisions, including the financial side of marriage, alongside questions about who becomes wealthy and how markets behave.
Guest conversations are a visible part of the format. A discussion with Victor Haghani addresses the people or forces behind stock market anomalies, while an episode featuring Owen Zidar considers wealth that is less conspicuous than popular images of rich lifestyles suggest. Together, these subjects connect the mechanics of markets with the less obvious places where money accumulates.
Several episodes examine the process of choosing and working with an adviser. A conversation with Matthew Taylor covers considerations both before and after hiring one; related topics include fiduciary responsibility, the weaknesses of financial advice found online and why an investor who previously managed everything alone might later seek help. The titles also raise uncomfortable questions about poorly understood products and advisers who retain clients despite doing a bad job.
Viewers interested in the reasoning behind financial decisions, rather than simply following a market story, are the natural audience. The channel supplies questions to bring to an adviser relationship and themes to consider when thinking about investing as part of a household. Its mixture of guest discussion and focused topics suits people who want to examine assumptions about wealth, professional guidance and their own role in managing money.
Latest episode
The Truth About Leveraged ETFs | Rational Reminder 430
Meet with PWL Capital — https://pwlcapital.com/
PWL Team — https://pwlcapital.com/our-team/
Avoid Online Scams — https://pwlcapital.com/stay-safe-online/
Ben Felix or any PWL employee will never…
Meet with PWL Capital — https://pwlcapital.com/
PWL Team — https://pwlcapital.com/our-team/
Avoid Online Scams — https://pwlcapital.com/stay-safe-online/
Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers trying to commit fraud.
In this episode, Ben Felix, Dan Bortolotti, and Kelly Thomas revisit some of the blind spots from their recent discussion about the finances of marriage before diving into a deeply nerdy discussion about leveraged ETFs. Kelly brings a different perspective to questions around spending roles, career sacrifices, financial autonomy, and the mental load of managing household finances.
The main discussion explores leverage, human capital, volatility drag, and the long-held belief that daily resets make leveraged ETFs poor long-term investments. Ben explains how his own thinking changed after feedback from the Rational Reminder community and a growing body of research, arguing that daily resets themselves do not cause volatility drag—volatility does. The conversation examines when leverage might make theoretical sense, why the safety of human capital is a critical assumption, and why what looks optimal in a model may be difficult to stick with in real life.
They also examine the practical risks and costs of leveraged ETFs, including financing costs, swap counterparty risk, extreme drawdowns, and the very different experience of leveraged index ETFs versus single-stock leveraged ETFs. The episode ultimately comes back to a broader financial planning question: if your financial goals can be achieved without leverage, do you actually need the additional risk?
WEBINAR | A Conversation With David Booth (November 4, 12:15 PM ET)* — https://pages.pwlcapital.com/webinar-a-conversation-with-david-booth
*The first 250 Canadian residents to register will receive a FREE copy of David's book, "Stay Calm"
Sources — https://zbib.org/455c998cf1784f5299ff981c8b96f6d2
Timestamps:
0:00:00 Intro
0:01:13 Episode 426 Postmortem Discussion
0:10:25 Main Topic: LETFs (Background)
0:15:12 LETFs
0:20:53 The Case for Leverage
0:32:03 Diversification Across Time
0:37:27 Beyond the Status Quo
0:39:06 Summary
0:43:08 Potential to Underperform
0:46:35 Daily Resets
0:56:59 Empirical Evidence
1:03:49 LETFs and Asset Allocation
1:05:01 Wrap Up
1:09:53 Aftershow
Links From Today’s Episode:
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/
Rational Reminder on YouTube — https://www.youtube.com/channel/
Rational Reminder on Spotify —https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=fe7f60349b584026
Benjamin Felix — https://pwlcapital.com/our-team/
Benjamin on X — https://x.com/benjaminwfelix
Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/
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Meet with PWL Capital — https://pwlcapital.com/ PWL Team — https://pwlcapital.com/our-team/ Avoid Online Scams — https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to...
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Meet with PWL Capital — https://pwlcapital.com/ PWL Team — https://pwlcapital.com/our-team/ Avoid Online Scams — https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to...
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Meet with PWL Capital — https://pwlcapital.com/ PWL Team — https://pwlcapital.com/our-team/ Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give...
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Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers...
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Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers...
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Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers...
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Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers...
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Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/contact-us?utm_source=content&utm_medium=youtube&utm_campaign=rationalreminder_yt Avoid Online Scams https://pwlcapital.com/stay-safe-online/ Ben Felix or any PWL employee will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers...
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