0:04 Remembering the “good old days” of fat commissions

0:33 From $200 trades to zero commissions—what really changed

1:18 Free trading everywhere… so how do brokers make money now?

2:37 Robinhood’s explosive growth and the rise of trading culture

3:15 Trading volume triples in six years—what that signals

4:42 Payment for order flow, cash sweeps, and hidden costs

6:21 Are investors actually getting a deal from free trading?

7:13 Why frequent trading and poor returns go hand in hand

8:21 Dopamine, gambling mechanics, and Robinhood’s design problem

9:47 Day trading: the comeback nobody needed

10:57 Why most day traders lose—and taxes make it worse

11:36 Prediction markets: gambling with an investing label

13:16 Listener questions begin

15:55 What is a tokenized stock—and why it’s not investing

17:25 Bucket shops, NFTs, and synthetic “stocks”

18:45 Early retirement withdrawals and the Rule of 55

19:33 Default retirement plans stuffed with annuities—good idea?

21:20 Liquidity risk and why annuities aren’t one-size-fits-all

22:26 Vanguard’s new Core Plus Bond ETF (BNDP)

24:13 Chasing yield vs. using bonds for stability

26:20 Why bonds shouldn’t be your return engine

27:36 Hoping for a calmer 2026 (good luck with that)

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