Our guest on the podcast today is Jim O’Shaughnessy. Jim founded O’Shaughnessy Asset Management, a quantitative investment management firm in 1993. Franklin Templeton acquired the firm in 2021. Jim is also an author of several books, including Invest Like the Best and What Works on Wall Street. His latest book, Two Thoughts: A Timeless Collection of Infinite Wisdom, is a compilation of quotations from famous artists, writers and thinkers. Jim also hosts his own podcast called Infinite Loops. In addition, Jim is the founder and CEO of O’Shaughnessy Ventures, which provides financial backing and other support to individuals and projects.

00:00:00 Building a New Way to Analyze the Stock Market

00:07:18 How Stock Brokers Sold Stories Before Quants

00:12:19 Stock Price vs. Narrative and How Quants Avoid Stock Investing Pitfalls

00:20:05 Long-Term Investing, Bonds, and Keeping Emotions Out of Your Portfolio

00:29:50 Pre-Seed Investments, Finding the Right Founders, and Valuations Today

00:40:08 The Making of Two Thoughts: A Timeless Collection of Infinite Wisdom

00:47:29 Voices on the Infinite Loops Podcast

00:53:12 “Statis is Death” and Lifelong Learning

Nick Maggiulli: Climbing the Wealth Ladder

Lawrence Lam: ‘The Types of Companies That Attract Me Are Founder-Led and Profitable’

How to Determine What a Stock Is Worth

How to Build a Portfolio to Reach Your Financial Goals

5 Ways Emotions Sabotage Your Investment Success

FOMO Can Lead to Lower Returns. Don’t Fall For It

If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

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Our guest on the podcast today is Sally Balch Hurme. Sally is the author of Checklist for My Family: A Guide to My History, Financial Plans and Final Wishes, as well as several other books. She worked at AARP for 23 years and has written more than 20 law review articles on topics related to elder law. She has also served on the boards of the National Guardianship Association and the Center for Guardianship Certification, where she helped develop standards for guardians and reform guardianship policies and procedures. Before moving to AARP, she was a partner in a private law firm and held several other legal roles. She also served as an adjunct professor at the George Washington University Law School, teaching elder law for eight years. She received her BA from Tulane University and her JD cum laude from the Washington College of Law at American University.

00:00:00 Working at the American Bar Association, AARP, and as a Caregiver

00:06:15 How to Get Started in Eldercare Planning

00:08:15 Final Wishes, Finding Your Roots, and Key Documents

00:26:31 Designated Beneficiaries and Medication Tracking

00:33:38 Home Deeds and The Power in Power of Attorney

00:39:48 Cleaning Up Digital Assets

Checklist for My Family: A Guide to My History, Financial Plans and Final Wishes

The ABA/AARP Checklist for Family Caregivers: A Guide to Making It Manageable

Beth Pinsker: Lessons From ‘My Mother’s Money’

Inherited IRAs: What to Know About Taxes, RMDs, and More

How to Tackle Estate-Planning Basics in 7 Steps

If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our guests on the podcast today are Cody Garrett and Sean Mullaney. They’re both advice-only financial planners, and they’re the co-authors of a new book called Tax Planning To and Through Early Retirement. Cody is a certified financial planner and the founder of Measure Twice Money, where he helped DIY investors make informed decisions aligned with their values. He also leads Measure Twice Planners, which is an educational community for financial planners. Sean Mullaney is a certified public accountant and head of Mullaney Financial & Tax. He also writes the blog, FITaxGuy.com, which is focused on the intersection between financial independence and taxes.

Sean Mullaney

Cody Garrett

Measure Twice Money

Measure Twice Financial

Measure Twice Planners

Mullaney Financial & Tax

FITaxGuy.com

Tax Planning To and Through Early Retirement, by Cody Garrett and Sean Mullaney

“The Backdoor Roth IRA After an Excess Contribution to a Roth IRA,” Sean Mullaney, FITaxGuy.com, Dec 16, 2025

“Why I Don’t Worry Much About Sequence of Returns Risk,” Sean Mullaney, FITaxGuy.com, Jun 10, 2025

“The Tax Planning World Has Changed,” by Sean Mullaney, FITaxGuy.com, Sep. 22, 2025

“Bogleheads on Investing® with Cody Garrett, CFP®, and Sean Mullaney, CPA on tax planning to and through retirement: Episode 89″ by Bogleheads on Investing® podcast, BogleCenter.net, Dec. 7, 2025

“Managing Taxes in Retirement with Sean Mullaney,” by the White Coat Investor Podcast, WhiteCoatInvestor.com, Nov 20, 2025.

Die With Zero: Getting All You Can from Your Money and Your Life―A Revolutionary Approach to Maximizing Life Experiences Over Accumulating Wealth, by Bill Perkins

“Reframing Risk In Retirement As “Over- And Under-Spending” To Better Communicate Decisions To Clients, And Finding “Best Guess” Spending Level,” by Michael Kitces, Kitces.com, Apr. 24 2024.

“My Baptism by FIRE: Lessons on Financial Independence,” by Christine Benz, Morningstar.com, May 29, 2025.

“Aiming to ‘Die with Zero’? Here Are the Implications for Portfolio Construction and Retirement Spending,” by Jess Bebel, Morningstar.com, Apri. 6, 2025

"Derek Tharp: An Alternative Approach to Calculating In-Retirement Withdrawals," The Long View podcast, Morningstar.com, Feb. 21, 2023

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bio

“The Theory Behind the Age-Related Positivity Effect,” Andrew Reed and Laura Carstensen, NIH.gov, Sept. 27, 2012.

“Investing Without Blind Spots,” Better Vantage podcast, Nov. 12, 2025.

“Out of Sight, Out of Market: The IRA Cash Drag,” by Andy Reed et al., Vanguard.com, Sept. 5, 2024.

“Advisors and Investors Split on Inflation, Bond Views,” by Xiao Xu and Andy Reed, Vanguard.com, Sept. 12, 2025.

“Stress, Debt, and the Power of Planning,” by Anna Madamba and Andy Reed, Vanguard.com, April 9, 2025

“Improving Retirement Outcomes by Default: The Case for an IRA QDIA,” by Andy Reed, et al., Vanguard.com, July 2024.

"Maximizing versus Satisficing: Happiness Is a Matter of Choice," by Barry Schwartz, Andrew Ward, et al., NIH.gov, November 2002.

“The Ostrich Effect: Selective Attention to Information,” George Loewenstein and Duane Seppi, CMU.edu, Feb. 11, 2009.

“Inside the Minds of Equity Income Fund Investors,” Sharon Hill and Paulo Costa, Vanguard.com, Aug. 26, 2025.

“Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors,” Brad Barber and Terrance Odean, Berkeley.edu, April 2000.

The Paradox of Choice: Why More Is Less, by Barry Schwartz

Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard Thaler and Cass Sunstein

The Elements of Choice: Why the Way We Decide Matters, by Eric Johnson

“Was Bogle’s Princeton Thesis Eerily Prescient?” by Jess Bebel, Morningstar.com, May 27, 2022.

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Today on the podcast we welcome back Cullen Roche. He has a new book out called Your Perfect Portfolio: The Ultimate Guide to Using the World’s Most Powerful Investment Strategies. Cullen is also the founder and chief investment officer of Discipline Funds, and he heads up Orcam Group, a registered investment advisory firm he established in 2012. Cullen started his career as an advisor at Merrill Lynch and worked at an event-driven hedge fund before starting his RIA firm. He received his bachelor’s degree in finance from Georgetown University’s McDonough School of Business. Cullen, welcome back to The Long View.

Bio

Discipline Funds

Your Perfect Portfolio: The Ultimate Guide to Using the World’s Most Powerful Investment Strategies

Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance

“Three Things—Weekend Reading,” by Cullen Roche, disciplinefunds.com, Oct. 11, 2025.

“Three Things—Bubbles, Paradoxes & QE,” by Cullen Roche, disciplinefunds.com, Dec. 12, 2025.

“Three Things—Gold, Cuts and Divorces,” by Cullen Roche, disciplinefunds.com, Sept. 19, 2025.

“Three Things—Where Did the Integrity Go?” by Cullen Roche, disciplinefunds.com, Aug. 21, 2025.

“Bonds: It’s Still Time to Chill (For a Little Longer Though),” by Cullen Roche, disciplinefunds.com, May 22, 2025.

Discipline Funds’ Tariff Tracker

“Cullen Roche: What Tariffs Mean for Your Portfolio,” The Long View podcast, Morningstar.com, April 22, 2025.

Bill Bernstein

Taylor Larimore

“The Case for a ‘Good Enough’ Portfolio,” by Christine Benz, Morningstar.com, Oct. 27, 2025.

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Hi and welcome to The Long View. I’m Christine Benz, director of personal finance and retirement planning for Morningstar. On this week’s episode, we will feature some of our favorite clips from interviews we have done with financial planners, advisors, and retirement researchers over the past year. It’s a counterpart to a previously released “Best Of” episode that was all about investing. As usual, we delved into the topic of psychology and money, and the importance of tuning out the noise if you’re a long-term investor.

“JL Collins: The (Still) Simple Path to Wealth,” The Long View podcast, Morningstar.com, July 1, 2025.

“Charley Ellis: Indexing Is a Marvelous Gift,” The Long View podcast, Morningstar.com, Aug. 5, 2025.

“Larry Jacobson: ‘The Good Things in Our Life Are What Get in the Way of Great Things,’” The Long View podcast, Morningstar.com, Sept. 16, 2025.

“Dan Haylett: ‘The Retirement You Didn’t See Coming,’” The Long View podcast, Morningstar.com, Nov. 18, 2025.

“Kerry Hannon: What Gen Xers Need to Know About Their Retirement Plans,” The Long View podcast, Morningstar.com, Sept. 30, 2025.

“Carl Richards: The Case for ‘Deeply Human’ Financial Advice,” The Long View podcast, Morningstar.com, Oct. 21, 2025.

“Dana Anspach and Fritz Gilbert: ‘This Is What a Joyful Retirement Could Feel Like,’” The Long View podcast, Morningstar.com, Sept. 23, 2025.

“Barry Ritholtz: ‘How Not to Invest,’” The Long View podcast, Morningstar.com, Oct. 7, 2025.

“Nick Maggiulli: Climbing the Wealth Ladder,” The Long View podcast, Morningstar.com, July 22, 2025.

“Doug and Heather Boneparth: How Couples Can Find Financial Harmony,” The Long View podcast, Morningstar.com, Oct. 28, 2025.

“Ramit Sethi: ‘We Have to Make Money Fun and Connective,’” The Long View podcast, Morningstar.com, March 4, 2025.

“Beth Pinsker: Lessons From ‘My Mother’s Money,’” The Long View podcast, Morningstar.com, Nov. 4, 2025.

“Jean Chatzky: What Women Need to Do Differently With Their Money,” The Long View podcast, Morningstar.com, April 8, 2025.

“Sahil Bloom: ‘Curiosity Is the Fountain of Youth,’” The Long View podcast, Morningstar.com, Feb. 4, 2025.

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