WEBVTT - Where to Invest $100,000 Right Now

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News. Welcome to Merin Talks

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<v Speaker 1>Your Money, the Personal Finance edition of Merin Talks Money.

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<v Speaker 1>In these bonus podcasts, we talk about the best strategies

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<v Speaker 1>for making the most of your money. I'm Merin Sunset

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<v Speaker 1>Web and this week we are tackling what sounds like

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<v Speaker 1>a very simple question, if you had one hundred thousand

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<v Speaker 1>dollars right now, where would you invest it? Now we

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<v Speaker 1>know that at the moment, at least the majority of

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<v Speaker 1>our audience are in the UK, so that's you know,

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<v Speaker 1>roughly eighty thousand pounds if we want to be specific.

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<v Speaker 2>But it's the same kind of thing.

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<v Speaker 1>So the point anyway, is not the currency. The point

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<v Speaker 1>here is to think about where you would put the money.

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<v Speaker 1>So what we've done is we've got on the Bloomberg

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<v Speaker 1>Personal Finance and Wealth reporter Susanne Willie, who joins us

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<v Speaker 1>from New York.

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<v Speaker 2>Thank you, Susan.

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<v Speaker 3>My pleasure.

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<v Speaker 1>And what you do fairly regularly is you look at

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<v Speaker 1>particular amounts of money ten thousand dollars, one hundred thousand dollars,

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<v Speaker 1>a million dollars, and you go out and you ask

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<v Speaker 1>experts what they would do with the money. Is that right?

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<v Speaker 2>Is that how it works?

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<v Speaker 3>That's how it works? You know, I was looking and

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<v Speaker 3>this series actually started in twenty sixteen, which means I've

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<v Speaker 3>been written a shocking number of these things. But you know,

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<v Speaker 3>we're trying to get people to tell us where now

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<v Speaker 3>do they see a compelling sector or a strategy that

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<v Speaker 3>you know one of the dynamics behind the strategy make

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<v Speaker 3>it particularly interesting right now? And how people can you know,

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<v Speaker 3>can move into that strategy if they want to.

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<v Speaker 1>Okay, so your latest one is on one hundred thousand dollars,

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<v Speaker 1>and can I let's ask before we go into looking

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<v Speaker 1>at what these money managers said, how do you choose them?

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<v Speaker 3>A chunk of them are people that I already know

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<v Speaker 3>and respect. If we're going to allow this person to

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<v Speaker 3>share their views, I want to know that they're legitimate,

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<v Speaker 3>they've been in the market for a while, that they're

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<v Speaker 3>not completely talking their own game. So a lot of

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<v Speaker 3>these are people I know. There are people that we

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<v Speaker 3>speak to at Bloomberg or Markets team or Cross Assets team,

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<v Speaker 3>so they're people with good experience. But I try to

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<v Speaker 3>get a broad range, so I don't just get like strategists.

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<v Speaker 3>Chief of investment officers. Sometimes I get portfolio managers, so

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<v Speaker 3>sometimes I'll get somebody who is at a family office,

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<v Speaker 3>so different little spots in the wealth management world. I

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<v Speaker 3>try to have a mix of people to get a

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<v Speaker 3>wide range of views.

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<v Speaker 1>Okay, and here's the key question that I know a

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<v Speaker 1>lot of people are now thinking.

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<v Speaker 2>Max.

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<v Speaker 1>We've got quite a big professional audience on this podcast.

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<v Speaker 1>Although it is by the way aimed the ordinary investor.

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<v Speaker 1>I know a lot of pros listen to it. Do

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<v Speaker 1>you take suggestions? If they will email in going geez,

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<v Speaker 1>I can do better than that.

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<v Speaker 3>Yes, I do. I'm always open to finding new people

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<v Speaker 3>that where to invest ten thousand. We have the same

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<v Speaker 3>people pretty much every time, three out of four, but

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<v Speaker 3>the other ones one hundred thousand, the one million. My

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<v Speaker 3>colleague Charlie Wells in London does a great one on

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<v Speaker 3>word invest in real estate. I am always looking for

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<v Speaker 3>new people because I don't want to just present the

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<v Speaker 3>same people. So there's always a mix of new people.

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<v Speaker 3>And I'm very open to getting pictures. Although Amaron, I

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<v Speaker 3>may really regret saying that, Well.

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<v Speaker 1>You won't regret it because what's going to happen. Is

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<v Speaker 1>it going to come into our email. Excellent, I'm going

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<v Speaker 1>to regret it, and they're going to come to us

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<v Speaker 1>and I'm going.

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<v Speaker 2>To filter them for you.

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<v Speaker 4>That is fabulous, So then they'll be never filtered by

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<v Speaker 4>me and you so hear that, everybody. If you want

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<v Speaker 4>to do this, you've got to be brave because I'm

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<v Speaker 4>filtering you, and then Susanna is filtering you. So you know,

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<v Speaker 4>have something you stant to say before you even touched

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<v Speaker 4>on to the people who do have useful things to

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<v Speaker 4>say and have already got your trust. When I was

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<v Speaker 4>looking through your most recent article, which by the way,

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<v Speaker 4>we'll put the link to that in the show notes

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<v Speaker 4>for subscribers, what struck me. There's a lot of home

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<v Speaker 4>buyers here, a lot of the people you talk to

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<v Speaker 4>a still very heavily invested in the US and in

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<v Speaker 4>US large cap stocks.

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<v Speaker 3>It's really true. I was a bit surprised by some

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<v Speaker 3>of that. I talked to Shaneade Colton Grant, who is

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<v Speaker 3>with BNY Mellon, and she was very big on US

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<v Speaker 3>large caps and was saying that people who are concerned

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<v Speaker 3>about tech valuations are thinking back to the dot com bubble,

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<v Speaker 3>but the sector looks different today because of the cash

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<v Speaker 3>flow that the Mag seven are throwing off. I guess

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<v Speaker 3>I had expected a little more more valuation concern. I'd

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<v Speaker 3>had a different take from Shanead's back in late December

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<v Speaker 3>when we did the Word to Invest one million story

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<v Speaker 3>and Jack Ablin, who's the chief investment officer of Cressa Capital,

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<v Speaker 3>his big picture take was that he thought the SMP

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<v Speaker 3>was overvalued by twenty five percent and noted that can't

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<v Speaker 3>be made up by earnings a loan. But he also

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<v Speaker 3>noted something that is very true obviously, which is that

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<v Speaker 3>expensive Marcus can stay expensive. He just wouldn't. He just

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<v Speaker 3>was saying he wouldn't have put new money into the

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<v Speaker 3>Mag seven because he actually probably, like your guests the

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<v Speaker 3>other week, Jeremy Grantham, thinks we could see every play

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<v Speaker 3>of two thousand and that all we need is some

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<v Speaker 3>sort of catalyst and we could be down a very

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<v Speaker 3>unhappy path.

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<v Speaker 1>Then already, if you decided to stay only in US

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<v Speaker 1>lunch cap this year, you're already seeing fairly hefty relative

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<v Speaker 1>informance right now, as you got my Bloomberg up in

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<v Speaker 1>front of me, and the S and B five hundred

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<v Speaker 1>and at one point two four percent as we speak

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<v Speaker 1>eurostocs thirteen point five percent, even the foot two one

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<v Speaker 1>hundred up nearly nine percent, and the Dack's up well

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<v Speaker 1>over sixteen percent.

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<v Speaker 2>So this year, if you'd.

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<v Speaker 1>Stuck with US large gap so far, I mean, it's

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<v Speaker 1>can turn around any second, we know markets, right, but

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<v Speaker 1>so far that home bias isn't looking great for American investors.

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<v Speaker 3>It's true, and I personally kind of welcome this to

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<v Speaker 3>some degree because I'm a big believer in diversification, and

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<v Speaker 3>one aspect of diversification that hasn't paid off for so

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<v Speaker 3>long that people have moved away from is diversifying internationally.

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<v Speaker 3>And I think a lot of people, to some asset

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<v Speaker 3>managers and their clients want to move away from asset

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<v Speaker 3>perstation their home biases getting even stronger. And I'm a

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<v Speaker 3>big believer in international diversification and that's where the value

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<v Speaker 3>is now.

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<v Speaker 2>And of course she could still be right.

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<v Speaker 1>I mean, she says, doesn't she when you talk to her,

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<v Speaker 1>that this is the year that AI needs to prove

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<v Speaker 1>itself and if it really does prove itself, and it

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<v Speaker 1>is the case as everyone felt pret deeps that the

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<v Speaker 1>US is the center of the most exciting bits of

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<v Speaker 1>AI tech. Then these valuations that we're so worried about

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<v Speaker 1>you and I may mean nothing.

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<v Speaker 3>Yeah, she's not going like raw ra. She has a

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<v Speaker 3>smart take on it. You know, she definitely wants to

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<v Speaker 3>see the results that were all watching for. In this

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<v Speaker 3>most recent one, there was someone who did like small caps,

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<v Speaker 3>which is another sort of interesting one to me because

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<v Speaker 3>I'm personally a little like Leary of small caps. I

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<v Speaker 3>know that they'll benefit from lower interest rates because most

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<v Speaker 3>of their debt is floating rate debt, But I just

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<v Speaker 3>wonder where do tariffs come in with small caps?

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<v Speaker 2>Yeah?

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<v Speaker 1>Look, tariffs are there are a moving, a moving nightmare,

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<v Speaker 1>aren't they know? We're never really got We still don't

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<v Speaker 1>really know very much about what's actually going to happen,

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<v Speaker 1>so it's difficult to invest anywhere where you might feel

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<v Speaker 1>those intense tariff risk.

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<v Speaker 2>So true, and then of course you talk about small caps.

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<v Speaker 1>He only talks about US small caps And we have

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<v Speaker 1>a rewarding in the UK out in the last couple

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<v Speaker 1>of days from Aberdeen suggesting that UK small cabs are

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<v Speaker 1>basically the most unloved cheapest asset class pretty much globally.

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<v Speaker 2>No one mentions those.

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<v Speaker 3>No, No, there was somebody in recent times who recommended

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<v Speaker 3>like thirty percent in the UK. So there have been okay,

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<v Speaker 3>you know, like glimmers of diversification.

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<v Speaker 2>Okay.

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<v Speaker 1>And then so we're moving on to Jerry from Brazilian

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<v Speaker 1>who suggested we go abroad for value, right, So that's

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<v Speaker 1>that's interesting. And then he also when he says go aboard,

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<v Speaker 1>he was talking about not just Europe, briddles as your

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<v Speaker 1>markets and age Agia specific so anything not US, right.

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<v Speaker 3>Yes, yes, I mean there have been people who've talked

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<v Speaker 3>a lot about value in looking at areas that have

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<v Speaker 3>been underappreciated and are obviously you know, it's not hard

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<v Speaker 3>to be cheaper than the US market today, many markets

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<v Speaker 3>are significantly cheaper. So this is the idea to sort of,

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<v Speaker 3>he said, think differently, embrace diversification, and look at growth

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<v Speaker 3>areas and under explored parts of the market. I don't

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<v Speaker 3>know if you'd call it Europe, em and Asia Pacific

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<v Speaker 3>completely under explored.

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<v Speaker 2>But but maybe under explored for mainstream American investors. I

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<v Speaker 2>guess perhaps.

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<v Speaker 1>And then I'll just go back to Michael of Levity

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<v Speaker 1>Financial Group. He was the one he said small cap

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<v Speaker 1>stocks in the US. But interestingly he very much recommended

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<v Speaker 1>actively managed small cap funds overpassive. From our side, we

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<v Speaker 1>always think of the US market as somewhere where everyone

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<v Speaker 1>always goes passive overactive, because there's such a huge and

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<v Speaker 1>well researched market, and even at small cap level, almost

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<v Speaker 1>people went passive.

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<v Speaker 2>But he's very clear on active, right.

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<v Speaker 3>Yeah, he was very clear and active. He thinks there's

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<v Speaker 3>more maybe due diligence that sort of needs to be

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<v Speaker 3>baked into it. There are obviously small cap ETFs to

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<v Speaker 3>focus on more quality, I believe, but yeah, there was

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<v Speaker 3>not a focus on international in the small cap space

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<v Speaker 3>for Michael, that's for sure.

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<v Speaker 1>And then the other thing that struck me as interesting

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<v Speaker 1>from the first three people who spoke to is they

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<v Speaker 1>all suggested some kind of private part of the portfolio.

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<v Speaker 1>So even with one hundred thousand dollars, which doesn't seem

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<v Speaker 1>like that huge a portfolio, is still suggesting that there's

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<v Speaker 1>something private. So oncegested fifteen percent between private equity and

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<v Speaker 1>bench capital, five percent and private credit, and I think

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<v Speaker 1>was it.

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<v Speaker 2>Michael also suggested private.

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<v Speaker 3>Credit, right, yeah, private credit is pretty pretty hot. I mean,

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<v Speaker 3>this is not meant to be like your one hundred

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<v Speaker 3>thousand portfolio.

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<v Speaker 1>At all.

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<v Speaker 3>It's sort of like, if you got one hundred thousand

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<v Speaker 3>portfolio today in addition to what you have, how would

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<v Speaker 3>you sort of dole it out? But yeah, I mean

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<v Speaker 3>there is so much talk or I don't know if

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<v Speaker 3>you call it hype about private market investments. There's this

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<v Speaker 3>talk about trying to get in the US, trying to

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<v Speaker 3>get private market investments into our workplace retirement plans such

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<v Speaker 3>as our four oh one k's. It's interesting. We've even

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<v Speaker 3>seen recently some attempts to launch ETFs. Not attempts they

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<v Speaker 3>have launched ETFs focus on private credit. It's a tricky area.

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<v Speaker 3>They're going to be large, smaller companies, and it's sort

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<v Speaker 3>of hard to see the vetting that is being done

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<v Speaker 3>behind the scenes to get into these investments. So I

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<v Speaker 3>love the idea of having non correlated assets, but you

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<v Speaker 3>have to weigh that against the risks known and unknown

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<v Speaker 3>that are in some of these pockets of the market.

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<v Speaker 3>I don't want to be too negative. I'm just sort

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<v Speaker 3>of saying that you really have to be cognizant of

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<v Speaker 3>what you're getting into.

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<v Speaker 1>Yeah, and there's also a little argument about the extent

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<v Speaker 1>to which that non correlation exists. But the podcast all

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<v Speaker 1>together about another time. Now your fourth person, John from

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<v Speaker 1>twin Focus. He was very much safety theme, which brings

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<v Speaker 1>us back to taros and the threat of tarots, which

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<v Speaker 1>we briefly mentioned earlier. Very hard to see where that's

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<v Speaker 1>going to go, but if you want to play, it's safe.

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<v Speaker 2>He was very much about treasuries, right, He was very.

0:11:19.080 --> 0:11:21.839
<v Speaker 3>Much about treasury. As we were talking when treasuries were

0:11:22.360 --> 0:11:24.840
<v Speaker 3>I don't know, around four point five percent the tenure.

0:11:25.480 --> 0:11:27.839
<v Speaker 3>They have obviously gone down since then, but at his

0:11:27.920 --> 0:11:30.000
<v Speaker 3>point when we came out was that you get the treasure,

0:11:30.040 --> 0:11:32.559
<v Speaker 3>you get the safety, but that also you might be

0:11:32.600 --> 0:11:36.360
<v Speaker 3>able to get appreciation, which probably has worked out if

0:11:36.400 --> 0:11:38.679
<v Speaker 3>you bought it right when he put this right when

0:11:38.720 --> 0:11:39.760
<v Speaker 3>we put this story out, and.

0:11:39.840 --> 0:11:42.040
<v Speaker 1>Maybe if we asked him again today right now, he

0:11:42.120 --> 0:11:43.520
<v Speaker 1>might say something a little different.

0:11:43.520 --> 0:11:47.760
<v Speaker 3>I wonder. And he also talked a little bit about gold,

0:11:47.880 --> 0:11:50.440
<v Speaker 3>which I know you are, Oh we like gold, Yeah,

0:11:50.760 --> 0:11:51.360
<v Speaker 3>a fair enough.

0:11:52.800 --> 0:11:54.599
<v Speaker 1>You know. He made me happy in all sorts of

0:11:54.679 --> 0:11:57.080
<v Speaker 1>ways because the way he talked about taking profits out

0:11:57.120 --> 0:11:59.120
<v Speaker 1>of his the growth part of his portfolio and moving

0:11:59.160 --> 0:12:02.280
<v Speaker 1>it towards value and midcaps as a potential reversion to

0:12:02.320 --> 0:12:04.160
<v Speaker 1>the means strategy. I'm very big on reversion to the

0:12:04.200 --> 0:12:06.679
<v Speaker 1>means that that really resonated with me. And then of

0:12:06.720 --> 0:12:09.000
<v Speaker 1>course he talks about gold. When he talks about gold,

0:12:09.200 --> 0:12:12.480
<v Speaker 1>he talks about owning a combination of billion coins and

0:12:12.800 --> 0:12:15.719
<v Speaker 1>a gold ETF, so making of about three to five

0:12:15.840 --> 0:12:17.240
<v Speaker 1>percent of the portfolio.

0:12:17.240 --> 0:12:18.120
<v Speaker 2>I thought that was interesting.

0:12:18.640 --> 0:12:21.160
<v Speaker 3>Yeah, that's what he generally. They have very ultra high

0:12:21.200 --> 0:12:25.520
<v Speaker 3>networth clients. He's with twin Focus, and that's something that

0:12:25.600 --> 0:12:28.920
<v Speaker 3>they generally advise for their clients. He basically feels gold

0:12:29.040 --> 0:12:31.840
<v Speaker 3>has a place a permanent place in portfolios.

0:12:32.200 --> 0:12:34.719
<v Speaker 1>Interestingly, he doesn't seem to think that crypto has a

0:12:34.760 --> 0:12:38.079
<v Speaker 1>place a permanent place in portfolios. So, you know, looking

0:12:38.240 --> 0:12:41.000
<v Speaker 1>through this, I wonder none of these people mentioned in

0:12:41.080 --> 0:12:44.079
<v Speaker 1>crypto at all. I wonder if they would with Trump's

0:12:44.480 --> 0:12:47.360
<v Speaker 1>talk about crypto over the weekend. But have any of

0:12:47.400 --> 0:12:49.760
<v Speaker 1>the people you've interviewed previously, perhaps the people what you've

0:12:49.800 --> 0:12:52.440
<v Speaker 1>asked when you're looking at million dollar portfolios, have they

0:12:52.520 --> 0:12:53.240
<v Speaker 1>mentioned crypto?

0:12:53.720 --> 0:12:57.559
<v Speaker 3>Yes, they have mentioned crypto. They've mentioned you know, bitcoin

0:12:57.679 --> 0:13:02.120
<v Speaker 3>in particular, since that's sort of where it's at with

0:13:02.320 --> 0:13:07.960
<v Speaker 3>the you know, the crypto, the ETF focused on crypto

0:13:08.160 --> 0:13:11.400
<v Speaker 3>that the I shares etf taking in so much money

0:13:11.440 --> 0:13:13.760
<v Speaker 3>this year, although some of it has flowed out recently obviously.

0:13:15.200 --> 0:13:18.400
<v Speaker 3>But people have also talked about bitcoin in terms of

0:13:18.520 --> 0:13:28.199
<v Speaker 3>a correlated asset. But that's not really true because you know,

0:13:28.400 --> 0:13:31.640
<v Speaker 3>if you look at bitcoin and how it responds when

0:13:31.760 --> 0:13:35.280
<v Speaker 3>the market is a risk off, it's not pretty right, No,

0:13:35.960 --> 0:13:36.280
<v Speaker 3>it's not.

0:13:36.720 --> 0:13:38.120
<v Speaker 2>And we talked about this last week.

0:13:38.240 --> 0:13:41.000
<v Speaker 1>We went three podcasts last week and in one of them,

0:13:41.240 --> 0:13:43.480
<v Speaker 1>John and I talked about people who had a lot

0:13:43.520 --> 0:13:45.719
<v Speaker 1>of bitcoin and I suddenly found they'd lost rather a

0:13:45.800 --> 0:13:48.120
<v Speaker 1>lot of value very quickly. And at the same time,

0:13:48.200 --> 0:13:50.720
<v Speaker 1>we were talking about where you might buy a Golden

0:13:50.840 --> 0:13:52.840
<v Speaker 1>visa if you wanted to move to a new country,

0:13:53.320 --> 0:13:55.480
<v Speaker 1>and one of the things that we ended up talking

0:13:55.520 --> 0:13:58.199
<v Speaker 1>about was how be a really great idea to move

0:13:58.280 --> 0:14:03.319
<v Speaker 1>to Greece. Oh, now, I look at the final question

0:14:03.600 --> 0:14:06.640
<v Speaker 1>that you ask all your participants. You say to them,

0:14:06.679 --> 0:14:10.600
<v Speaker 1>what's their alternative investment idea that isn't necessarily in an

0:14:10.640 --> 0:14:12.439
<v Speaker 1>asset class at all? And I see that one of

0:14:12.480 --> 0:14:14.400
<v Speaker 1>them said he's buying a small place in the southern

0:14:14.440 --> 0:14:15.079
<v Speaker 1>part of Greece.

0:14:16.120 --> 0:14:17.120
<v Speaker 2>Yes he is.

0:14:17.480 --> 0:14:20.480
<v Speaker 3>John Panta Kidtis of Twin Focus, who was born in Greece,

0:14:21.000 --> 0:14:23.880
<v Speaker 3>and he travels back there quite often, and he and

0:14:23.960 --> 0:14:26.080
<v Speaker 3>his wife for buying a place on what they call

0:14:26.160 --> 0:14:31.040
<v Speaker 3>the Athens Riviera, and he is very bullish and buying

0:14:31.120 --> 0:14:35.240
<v Speaker 3>real estate in Athens. He was just saying, if you

0:14:35.320 --> 0:14:37.440
<v Speaker 3>have one hundred thousand, putting that toward a home in

0:14:37.520 --> 0:14:39.840
<v Speaker 3>some high end neighborhood in Greece could be a big investment.

0:14:40.120 --> 0:14:42.760
<v Speaker 1>When I read that, I slightly misunderstood because I read

0:14:42.800 --> 0:14:44.400
<v Speaker 1>it very quickly, and I thought, wow, you can buy

0:14:44.400 --> 0:14:46.520
<v Speaker 1>a nine thousand Greece for one hundred thousand dollars. And

0:14:46.640 --> 0:14:48.040
<v Speaker 1>so then I went on to have a quick look

0:14:48.120 --> 0:14:50.040
<v Speaker 1>on some of the real estate sides and found that

0:14:50.240 --> 0:14:52.360
<v Speaker 1>when he says put one hundred thousand dollars towards a

0:14:52.440 --> 0:14:54.440
<v Speaker 1>home and some high end neighbors in Greece, he means

0:14:54.480 --> 0:14:56.360
<v Speaker 1>put one hundred thousand dollars towards a home in a

0:14:56.440 --> 0:14:58.600
<v Speaker 1>high end neighborhood in Greece as a five percent deposit.

0:15:00.560 --> 0:15:01.640
<v Speaker 2>Yes, that is cheap.

0:15:02.640 --> 0:15:05.320
<v Speaker 3>No, No, he said, it's He said, you know their

0:15:05.600 --> 0:15:09.080
<v Speaker 3>prices are skyrocketing, and that you know it's all foreigners buying. Yeah,

0:15:09.360 --> 0:15:10.480
<v Speaker 3>but he's very bullish.

0:15:10.960 --> 0:15:14.480
<v Speaker 1>Was that your favorite of the alternates recommended in that article,

0:15:14.480 --> 0:15:17.040
<v Speaker 1>because there was another good stuff too, Yeah.

0:15:17.000 --> 0:15:19.920
<v Speaker 3>And this particular one it was I liked the idea

0:15:20.640 --> 0:15:24.240
<v Speaker 3>of buying recreational land where you could sort of create

0:15:24.280 --> 0:15:27.000
<v Speaker 3>your own little compound and you have your hiking trails.

0:15:27.040 --> 0:15:29.880
<v Speaker 3>And if you're in the US, people love pickleball. Here

0:15:30.320 --> 0:15:32.160
<v Speaker 3>you could put a pick a ball cord on. But

0:15:32.400 --> 0:15:35.160
<v Speaker 3>I loved Greece because I love travel, and I have

0:15:35.280 --> 0:15:39.240
<v Speaker 3>a secret fantasy of getting some lovely stone home in Tuscany.

0:15:40.800 --> 0:15:44.520
<v Speaker 3>So I'm always interested in the overseas real estate dreams

0:15:44.600 --> 0:15:45.760
<v Speaker 3>of some of these people.

0:15:46.880 --> 0:15:48.920
<v Speaker 1>I'm going to ask you one more question that which

0:15:49.040 --> 0:15:51.960
<v Speaker 1>isn't even about this newsletter, this piece you wrote about

0:15:51.960 --> 0:15:54.720
<v Speaker 1>these four investors. Over the last six months or so,

0:15:55.000 --> 0:15:58.640
<v Speaker 1>has there been someone who's offered you an investment that

0:15:58.920 --> 0:16:01.760
<v Speaker 1>is outside the main dream that really resonated with you

0:16:01.880 --> 0:16:04.960
<v Speaker 1>and thought, yet, that is interesting, it's different. And if

0:16:05.000 --> 0:16:06.960
<v Speaker 1>I had one hundred thousand dollars or ten thousand dollars

0:16:07.040 --> 0:16:08.880
<v Speaker 1>or a million dollars right now, that's what I would buy.

0:16:09.320 --> 0:16:12.800
<v Speaker 3>I've had some interesting, sort of niche ones, none like

0:16:13.040 --> 0:16:15.880
<v Speaker 3>the one that your guest the other week, Dan Rusmussen,

0:16:16.320 --> 0:16:19.720
<v Speaker 3>I think had which was I think Polish stocks. But

0:16:19.800 --> 0:16:23.280
<v Speaker 3>I have had someone recommend Korean banks, which I thought

0:16:23.400 --> 0:16:28.440
<v Speaker 3>was interesting. I'm a boring investor, Maren. I personally just

0:16:28.560 --> 0:16:32.240
<v Speaker 3>go for index funds and try to keep it pretty simple.

0:16:32.320 --> 0:16:34.560
<v Speaker 3>So while I'm intrigued by a lot of these ideas,

0:16:35.160 --> 0:16:37.360
<v Speaker 3>personally I keep it pretty simple.

0:16:37.600 --> 0:16:39.080
<v Speaker 2>Say you're not coming in with me on a house

0:16:39.120 --> 0:16:39.480
<v Speaker 2>in Greece.

0:16:39.960 --> 0:16:42.040
<v Speaker 3>I didn't say I wouldn't go for real estate and Greece.

0:16:42.120 --> 0:16:44.320
<v Speaker 2>Oh okay, fine, all right, well we'll talk about I'll

0:16:44.400 --> 0:16:44.680
<v Speaker 2>join you.

0:16:45.560 --> 0:16:47.920
<v Speaker 3>I'll join you in sort of like the hard assets.

0:16:48.000 --> 0:16:50.560
<v Speaker 3>You know, we can go and we can buy some gold, yeah,

0:16:51.200 --> 0:16:54.040
<v Speaker 3>some bullion. I can buy some coins and because I'll

0:16:54.080 --> 0:16:56.120
<v Speaker 3>have pickle ball in grease and you know, in the spring.

0:16:56.520 --> 0:16:59.560
<v Speaker 1>So anyway, all right now, I don't think that you

0:16:59.680 --> 0:17:02.920
<v Speaker 1>can my Greek house with an ETF. But if you're

0:17:03.000 --> 0:17:05.680
<v Speaker 1>listening and that you click on the link in the

0:17:05.760 --> 0:17:09.000
<v Speaker 1>show notes, you will find ETF recommendations for pretty much

0:17:09.080 --> 0:17:11.520
<v Speaker 1>all the things we've talked about today, and you can

0:17:11.560 --> 0:17:14.199
<v Speaker 1>see how you can get exposure to the asset classes that.

0:17:14.480 --> 0:17:15.720
<v Speaker 2>We are finding interesting.

0:17:20.600 --> 0:17:22.720
<v Speaker 1>Thanks for listening to this week's Marin Talks to Your Money.

0:17:22.800 --> 0:17:24.840
<v Speaker 1>If you like a show, rate review, and subscribe where

0:17:24.880 --> 0:17:26.960
<v Speaker 1>ever you listen to podcasts. Also, be sure to follow

0:17:27.000 --> 0:17:29.879
<v Speaker 1>me and John on x or Twitter at marinasw and

0:17:30.000 --> 0:17:32.480
<v Speaker 1>John Underscore Stepic Seisani on Twitter.

0:17:32.640 --> 0:17:34.240
<v Speaker 2>Got a big yes, I am what's your hand on?

0:17:34.320 --> 0:17:36.359
<v Speaker 3>I am at wealth Watch?

0:17:36.560 --> 0:17:37.639
<v Speaker 2>Okay, brilliant, Thank you.

0:17:37.960 --> 0:17:40.920
<v Speaker 1>This episode was produced by Samasadi, Production support and sound

0:17:40.960 --> 0:17:43.600
<v Speaker 1>designed by Moses and Questions and comments on this show

0:17:43.840 --> 0:17:46.960
<v Speaker 1>and all our shows always welcome, as are your pictures

0:17:47.160 --> 0:17:50.000
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0:17:50.040 --> 0:18:00.119
<v Speaker 1>Money at Bloomberg dot net s