534: The Economics of Professional Sports
Wealth Formula Podcast
This week’s Wealth Formula Podcast is about the economics of sports—if you are a sports fan like me, you will love it. But before we get to that, I want to give you my two cents on one of the most important elements to financial success in anything: conviction. As I write this, Bitcoin sold off from a high of $126K to under $90K. Other cryptos have lost 50-90 percent of their value in the same time. It’s been called a blood bath. Some are even saying it's over for Bitcoin. I might even believe them if I hadn’t seen the same story at least 5 times before over the past decade. True...
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533: What’s Really Going On in Real Estate Right Now with Prof Norm Miller
Wealth Formula Podcast
When you invest in real estate, you’re not buying what it is today—you’re buying what it will become a few years from now. That’s especially true in multifamily, which, despite all the noise, remains one of the most compelling long-term plays out there. Unlike stocks, you don’t get a live ticker reminding you every five seconds what your property is “worth.” And that’s a good thing. Real estate moves slowly, and that patience rewards people who can see the story before it unfolds. The national headlines are confusing right now—depending on who you read,...
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532: Pejman Ghadimi - A New Paradigm for Buying Nice Stuff
Wealth Formula Podcast
A few years back, I bought some very expensive sports coats. I wore them at first and enjoyed them. But over time, they kind of lost their luster. As I have found often to be the case in my life, I don’t tend to care that much about fancy stuff—fancy jackets, fancy shoes. My true self regresses to a fairly simple jeans and flannel circa 1992 style—not expensive. Realizing that these fancy clothes were just rotting in my closet, I recently sold them on a well-known second-hand site with only designer stuff. And I was shocked when I realized I was only getting 10 cents on the...
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531: How to Identify a Good Real Estate Deal
Wealth Formula Podcast
I grew up with a very different perspective on personal finance and investing than most. My parents were immigrants, and when they arrived in this country, they didn’t come with any preconceived notions of conventional financial wisdom. My father grew up dirt poor in India—that’s really poor and he had never even heard of investing as a kid. But he was blessed with a tremendous intellect and used it to rise from nothing to truly live the American dream. He came to the U.S. in the 1960s on an engineering scholarship and started working as a bridge engineer in Minnesota. When he finally...
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530: A Tax Attorney Talks Tax Mitigation with Buck
Wealth Formula Podcast
This week’s Wealth Formula Podcast features an interview with a tax attorney. While I’m not a tax professional myself, I want to drill down on something we touched on briefly that is incredibly relevant to many of you: the so-called short-term rental loophole. If I were a high-earning W-2 wage earner, this would be at the top of my list to implement—and I know many of you are already doing it. The short-term rental loophole is one of those quirks in the tax code that most people don’t even know exists, but once you do, it can be a total game-changer. Here’s why. Normally, when you...
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529: How to Get Yield from Bitcoin Safely
Wealth Formula Podcast
Bitcoin is definitely volatile. If you told me it was going to go down by 50 percent next year, I would hesitantly believe you. However, there is no way you can convince me that Bitcoin will not hit $500,000 at some point within the next five years. Think about what’s happening: ETFs are everywhere, treasury companies are holding Bitcoin, there are rumors of central banks buying it, and even an American Bitcoin reserve. It is an asset that will go up. But it may go down before that, and that is unnerving. You should not put money into Bitcoin unless you commit to not touching it for 5–10...
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No-Brainer Strategy to Start TODAY: Why Wealth Formula Banking Makes All the Sense in the World
Wealth Formula Podcast
It’s been a while since I’ve talked about Wealth Formula Banking in detail, and I know we have a lot of new listeners who may not have heard about it yet. So today, I want to share a webinar that explains why I think this strategy is such a no-brainer. First off—what is ? You may have heard of something called “infinite banking.” It’s a similar concept, but instead of focusing on paying your bills, Wealth Formula Banking is specifically designed to amplify your investments. My introduction to this idea came the same way you’re hearing it now—through a podcast. I kept hearing...
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528: Investing Is More Like Poker Than Chess
Wealth Formula Podcast
Most people picture investing as a game of chess. Everything is visible on the board, the rules are clear, and if you’re sharp enough, you can see ten moves ahead. But markets don’t work like that. They shift in real time—rates change, policies flip, black swan events crash the party. That’s why I think investing looks a lot more like poker. In poker, you never know all the cards. You play with incomplete information, and even the best players lose hands. What separates them isn’t luck—it’s process. Over time, making slightly better decisions than everyone else compounds into big...
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527: Is Franchising Right for You?
Wealth Formula Podcast
If you look at the wealthiest people in the world, they almost always get there through business ownership or real estate. The only real exceptions are athletes and entertainers—and let’s be honest, that’s not a realistic path for most of us. We talk about real estate a lot here and through deal flow in our . But today I want to focus more on business ownership. One way in is to start a business from scratch. I’ve done that a few times—sometimes it worked out really well, other times it was a total disaster. That’s the reality of startups. They require a certain wiring, an appetite...
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526: The Wealth Ladder
Wealth Formula Podcast
If there’s one thing that separates the truly wealthy from everyone else, it’s their relationship with risk. Not blind risk. I’m talking about conviction — the ability to see an opportunity before everyone else does, to lean into it while others are frozen, and to hold through the storm until the payoff is undeniable. The extreme example is Bitcoin. In 2012, when it was trading for less than the price of a cup of coffee, most people laughed it off as internet monopoly money. But a handful of people had conviction. They understood the asymmetric nature of the bet — the downside...
info_outlineSomething big is happening in Washington right now, and it has the potential to reshape everything you and I do as investors.
A few weeks ago, the Trump administration attempted to remove Fed Governor Lisa Cook, only to have an appeals court block the move on legal grounds.
At almost the same time, Stephen Miran—one of Trump’s economic advisers—was confirmed by the Senate to the Fed’s Board of Governors by a razor-thin margin.
On one side, an attempted subtraction. On the other, a confirmed addition. All of this is happening right before a major policy meeting, and it’s not hard to see the writing on the wall.
Trump’s takeover of the Fed is not a question of if—it’s a question of when. Whether it unfolds in a matter of weeks or drags out over the next few months, the direction is set and the outcome is inevitable.
The endgame is to bring interest rates down and, if necessary, use quantitative easing to drive bond yields even lower. That kind of policy would flood the system with liquidity, and the immediate effect would be a booming economy. Asset prices would rip higher—stocks, real estate, gold, Bitcoin—you name it. If you own assets, you’d feel wealthier almost overnight.
But of course, there’s another side to this coin. A dollar that weakens under the weight of easy money. A gap between the asset-rich and the asset-poor that grows even wider. Rising inequality, rising tensions, and perhaps a long-term cost to the credibility of the U.S. financial system.
So is this takeover of the Fed a good thing? That depends entirely on where you sit. If you’re a wage earner with no meaningful assets, it’s bad news. If you’re an investor, it’s a reminder that ignoring policy shifts like this is done at your own peril.
The time to prepare is now, not later. Don’t wait for rates to drop before acting. History shows that buying assets in a descending rate environment has been one of the most powerful wealth-creation maneuvers in the United States.
Think back to 2008. The Fed responded to the financial crisis with unprecedented rate cuts and waves of quantitative easing. What followed was more than a decade of explosive gains in stocks, real estate, and other assets.
Those who bought while rates were falling built extraordinary wealth. Those who stood on the sidelines missed out.
But don’t take my word. Listen to noted economist Richard Duncan explain the dynamics of this situation in this week’s episode of Wealth Forula Podcast.
Learn more about Richard Duncan:
https://richardduncaneconomics.com/