On episode 74 of Ask The Compound, Ben Carlson and Duncan Hill are joined by RWM CFO and Tax Ninja Bill Sweet to discuss asset allocation, saving for a house, tax efficient rollovers, tax loss harvesting, and much more! Submit your questions to askthecompoundshow@gmail.com!

►00:00 – Intro
►01:53 – Asset allocation
►09:10 – Saving for a house
►14:02 – SEP IRAs
►19:01 – Tax efficient rollovers
►24:00 – 401K vs. ROTH
►27:14 – Tax loss harvesting

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Investing involves the risk of loss. This podcast is for informational purposes only and should not be regarded as personalized investment advice or relied upon for investment decisions. Duncan Hill, Bill Sweet, and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.

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The term ‘financial bubble’ refers to a situation in which the prices of assets inflate beyond their intrinsic value, resulting in an unsustainable market condition. These bubbles eventually burst, resulting in a sharp decline in asset prices and a devastating impact on the economy. Over the years, the world has witnessed several financial bubbles, each with its own unique characteristics and consequences. However, the biggest financial bubble of all-time is arguably the housing market bubble that took place in the United States in the mid-2000s.

The housing bubble, which began in the late 1990s, was fueled by a combination of factors such as low-interest rates, relaxed lending standards, and a surge in demand for homes. As a result, the prices of houses skyrocketed, attracting more investors and resulting in a vicious cycle of inflating prices. Banks and other financial institutions took advantage of this situation by providing subprime mortgages to people with a low credit score, who otherwise would not have been able to buy a home.

As the bubble grew larger, the mortgage-backed securities, which were packaged and sold as investment vehicles to investors, became increasingly complex and opaque. These securities were bundled together and sold to investors worldwide, with the assumption that housing prices would continue to rise indefinitely. However, when the housing market crashed in 2007, the value of these securities plummeted, resulting in a ripple effect across the global financial system.

The housing market bubble burst in 2008, leading to the worst financial crisis since the Great Depression. The collapse of major financial institutions such as Lehman Brothers and AIG, the loss of jobs, and a decline in consumer spending took a heavy toll on the global economy. The World Bank estimated that the crisis led to a $12 trillion loss in world output, and over 60 million people worldwide were pushed into poverty.

In conclusion, the housing market bubble that took place in the United States in the mid-2000s remains the biggest financial bubble of all time. It highlights the dangers of speculation and greed in the financial markets and serves as a reminder of the potential consequences of ignoring fundamental economic principles. While the impact of this bubble was severe, it’s important to learn from these mistakes and ensure that we create a more stable and sustainable financial system in the future.