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Money For the Rest of Us

Why David Isn't Podcasting This Week and Our New Closed-End Fund Course

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.51.4K Ratings

🗓️ 15 June 2022

⏱️ 14 minutes

🧾️ Download transcript

Summary

This week on the show, David shares some investing lessons from fly fishing and introduces our new course on How To Invest in Closed-End Funds.

Between now and the end of June get 25% off the course. You can learn more here.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

Hi, this is David Steinem money for the rest of us and there's no regular episode of

0:05.1

the podcast this week because I'm out fly fishing.

0:08.4

I promised myself when I left the investment business and called myself retired about

0:13.4

a decade ago, I would learn to fly fish.

0:16.6

Not because I have a great love for fishing, more out of curiosity.

0:21.0

For years as I traveled around the country, clients would razz me about living a short

0:26.1

drive from several world-renowned fly fishing rivers and I had never fly fished.

0:31.0

The closest I had come is my son and I took a casting class.

0:35.2

Ten years ago this month, I fly fished for the first time.

0:38.6

A couple of friends and I camped at Elastone National Park and fished the Firehole River.

0:44.4

I caught two fish, which took my lifetime total catch to five fish, but my pride in that

0:51.7

catch dissipated after reading the following sentence from Renee Harb's book, Learning

0:57.7

on the Water.

0:59.0

He wrote, incidental catches of immature fish might be acceptable in the beginning, but

1:04.7

eventually that must inevitably change.

1:08.1

In less than 20 words, my achievement had been downsized in my mind to an incidental

1:13.2

catch of an immature fish, beginner's luck.

1:16.5

A few weeks later, I fished the Henry Ford River at Harriman State Park in Idaho.

1:21.5

A skilled fly fisherman I spoke with on that Yellowstone trip, who had retired in Cody

1:27.0

Wyoming.

1:28.0

He was from Connecticut, he retired in Wyoming so he could fish, and he said he had not

1:31.8

yet tried the Henry's fork because he was too intimidated.

...

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