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Invest Like a Boss

287: Jared Dillian on How to Live a Stress-Free Financial Life

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Investing, Business

4.8518 Ratings

🗓️ 11 January 2024

⏱️ 42 minutes

🧾️ Download transcript

Summary

A bit of a format flip on this episode as Sam and Derek tag team an interview with Jared Dillian, author of the new book No Worries: How to Live a Stress-Free Financial Life. Jared has had quite an interesting background from working at Lehman Brothers during their 2008 collapse to building a successful financial newsletter and podcast. The first half of the episode digs into Jared's thought on the current state of the economny, the effect of an inverted yield curve and his thoughts on the FIRE movement. We then jump into the principles discussed in the book for the second half of the episode.
About Jared Dillian: Jared Dillian is the editor of The Daily Dirtnap, a daily market newsletter for investment professionals, continuously published since 2008. He graduated from the United States Coast Guard Academy in 1996 with a B.S. in Mathematics and Computer Science, from the University of San Francisco in 2001 with a Masters in Business Administration, concentration in Finance, and from the Savannah College of Art and Design in 2023 with a Masters in Fine Arts in Writing. Jared worked for a small floor market maker on the Pacific Options Exchange from 1999-2000, and was a trader for Lehman Brothers from 2001 to 2008, specializing in index arbitrage and ETF trading. He is also the author of STREET FREAK: Money And Madness At Lehman Brothers, which was named Businessweek’s #1 general business book of 2011, and the novel ALL THE EVIL OF THIS WORLD, published in 2016, THOSE BASTARDS: 69 Essays on Life, Creativity, and Meaning, published in 2023, and NO WORRIES: How To Live a Stress Free Financial Life, to be published in 2024. Additionally, Jared is an adjunct professor in the business program at Coastal Carolina University. Jared is also an investment strategist at Mauldin Economics, and previously contributed to Bloomberg Opinion, Forbes and TheStreet.com. His media appearances include MSNBC, Fox Business, Bloomberg TV, BNN, The New York Times, LA Times, Business Insider, Marketwatch, Yahoo! Finance, and dozens of local and syndicated radio programs. He is also the host of The Jared Dillian Show, a nationally syndicated radio show on personal finance. In his spare time, Jared is a progressive house DJ and speaks frequently on mental health issues at financial institutions. Discussed: 

Where we are:

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  • Time Stamp:
    • 00:30 - Interview with Jared Dillian Begins
    • 05:16 - What's An Inverted Yield Curve?
    • 14:50 - Jared's Thoughts on the FIRE Movement
    • 17:42 - Key Points of the Book
    • 34:34 - Sam & Derek Wrap Up & Recap

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    Copyright 2024. All rights reserved. Read our disclaimer here.

Transcript

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0:00.0

Can we talk about the fire movement and your thoughts on that? A lot of our listeners are still

0:03.5

really involved in that. And I think it'd be interesting to hear your thoughts about that. Well, they should all go to hell because it's the dumbest idea of all time. Welcome to the Invest Like a Boss podcast. I'm Sam Marks. I'm Derek Sparts. And I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.

0:21.4

Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.

0:30.7

Hey bosses. Welcome to the Invest Like a Boss podcast. I am Derek Sparts here in Los Angeles. Sam is on the other end. I think he's in Barcelona. And we're switching up formats on this one. We're doing it a little bit differently. We're actually going to bring our guest on right away. His name is Jared Dillion. He was actually a Patreon request. If you didn't know, if you jump on the Invest Like a Boss, Patreon, you can suggest guests to us and got a pretty good batting average of getting them on. Jared agreed to come on the show. And he's got a new book out called No Worries, How to Live a Stress Free Financial Life. It's out on January 23rd. Welcome to Invest like a boss. Yo, thanks for having me. Appreciate you coming on. Before we jump into things, we're kind of going to split the episode into two sections. Sam was a little logistically challenged with getting the book. Sam likes to travel all over the place. So we couldn't give them the book. I was able to start the book, but Sam has been doing some other research on you. You got a really cool little podcast too called Be Smart if no one's checked that out. Jared does these nice, like short little little clips. It's a really easy listen. And it's very interesting, some of your thoughts on the economy. So I think we're going to jump into that as well. Okay. Before we do that, why don't you just tell us about your background. You seem a little bit unconventional from our normal guests in the financial space. Yeah, I, you know, I used to be a Coast Guard officer, went to the Coast Guard Academy,

1:45.2

and spent nine years in the Coast Guard, went to business school, and got a job on the options

1:51.2

exchange out in San Francisco back when there still was one.

1:54.2

From there, I got a job at Lehman Brothers.

1:56.4

I was the head of ETF trading at Lehman Brothers.

1:59.7

I was there at the bankruptcy, you know,

2:01.9

and that's when I started my newsletter called The Daily DirtNap. I've been doing that for the last

2:06.0

15 years. I've written four books. First one was Street Freak in 2011. Then I wrote a novel called

2:12.5

All the Evil of This World. Then I wrote an essay collection called Those Bastards. And like you said, no worries is

2:18.5

coming out January 23rd. But, you know, like you said, I don't really fit the mold of sort of

2:24.7

standard issue white guy, you know, that does finance. We try to diversify our guests,

2:31.1

but it's hard, man. There's a lot of old white guys out there in this face.

2:35.6

Jared's got tattoos, so it's diversified. Yeah, I mean, so I got some of the tattoos here. You can see him. Yeah, we'll put picks up online too. Jared's got not quite a full sleeve, but he's working his way there, I think. The tattoos are new, actually. I started getting them when I was like 43 or 44.

2:51.6

So something I always want to do.

2:53.6

So he's definitely on the way to us. way there, I think. The tattoos are new, actually. I started getting them when I was like 43 or 44,

2:51.6

so something I always want to do. So he's definitely on the way to a sleeve, definitely on the way

2:56.2

to a full sleeve. Yeah, but I'm also a DJ. I haven't performed much this year, but I usually

3:02.9

have six, seven, eight gigs a year. I throw parties in New York City. I play house music.

3:08.8

So I come from a music background too.

...

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