{"podcast":{"title":"Money For the Rest of Us","slug":"money-for-the-rest-of-us-511107","podcast_index_feed_id":511107,"rss_url":"https://rss.art19.com/money-for-the-rest-of-us","website_url":"https://moneyfortherestofus.com","image_url":"https://content.production.cdn.art19.com/images/6d/66/15/b5/6d6615b5-750e-417d-a1f7-cc27ac51b109/ad0c338525a157f6ea99aafa1c16b332cbdae5815ea4cf4dd2aa237f87a011165ecf79a6de4bbfd6d63d3136f09442bbead56e4c84c2fd3bda617cd86c9c5627.jpeg","author":"J. David Stein","episode_count":585,"summary":"A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com","last_synced_at":"2026-10-01T00:18:30.998767+00:00","page_url":"https://stenobird.com/podcast/money-for-the-rest-of-us-511107"},"episode":{"title":"Small Gains, Big Losses: The Hidden Risk in Steady Income","slug":"small-gains-big-losses-the-hidden-risk-in-steady-income","published_at":"2026-09-23T16:00:00+00:00","page_url":"https://stenobird.com/podcast/money-for-the-rest-of-us-511107/small-gains-big-losses-the-hidden-risk-in-steady-income","show_page_url":"https://stenobird.com/podcast/money-for-the-rest-of-us-511107","url":"https://rss.art19.com/episodes/bd14c262-57ea-4944-bc30-62b3d6f2ed4d.mp3?rss_browser=BAhJIg90cmFuc2NyaWJyBjoGRVQ%3D--952c5701c84ad333c69d5faa668f8177091704f0","audio_url":"https://rss.art19.com/episodes/bd14c262-57ea-4944-bc30-62b3d6f2ed4d.mp3?rss_browser=BAhJIg90cmFuc2NyaWJyBjoGRVQ%3D--952c5701c84ad333c69d5faa668f8177091704f0","summary":"In this episode, we explore why the income we earn isn't the same as the return. We show how option income strategies work, what their historical returns have been, what drives the return, and what reasonable return expectations are. We show why option income strategies have a positive expected return while sports betting has a negative expected return. Finally, we look at other areas where we confuse income with the total return. Sponsors Money for the Rest of Us Retirement Investing Cohort Delete Me – Use code David20 to get 20% off Our Premium Products Asset Camp Money for the Rest of Us Plus Show Notes Episode slide deck Variance Risk Premia by Peter Carr and Liuren Wu—NYU Cross section of option returns and idiosyncratic stock volatility by Jie Cao and Bing Han—The Journal of Financial Economics The Price of Correlation Risk: Evidence from Equity Options by Joost Driessen, Pascal J. Maenhout, Grigory Vilkov—SSRN Cross-section of option returns and volatility by Amit Goyal and Alessio Saretto—The Journal of Financial Economics The Art of Put Selling: A 10 Year Study by John Marshall, Krag Gregory, Katherine Fogertey—Goldman Sachs Low Stress Bets Related Episodes 557: Don’t Fall in the Dividend Trap 549: Why Catastrophe Bonds Are Yielding 12%, and Should You Invest? 544: Sports Betting Is Not Investing Article: Tail Events and Tail Risk See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .","meta_description":"In this episode, we explore why the income we earn isn't the same as the return. We show how option income strategies work, what their historical returns…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1615,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/money-for-the-rest-of-us-511107/episodes/small-gains-big-losses-the-hidden-risk-in-steady-income/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/money-for-the-rest-of-us-511107/small-gains-big-losses-the-hidden-risk-in-steady-income.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}