The Cents of Things

The Cents of things is a podcast focused on what is new in the economy, the markets, and personal finance. Hosted by industry veterans Jeff Kikel and Ron Lang. Jeff and Ron share their views on the investing world from each of their unique perspectives. Catch the Audio Podcast here and Video Episodes on YouTube.

The Cents of Things is a business podcast hosted by Unknown Host, with 34 episodes on record and a Required Pod Score of 80.

Unknown Host hosts The Cents of Things, a business show with 34 episodes published.

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  The Cents of Things

  The Villain Finally Blinked: Inflation Cools, Stocks Bounce | Daily Read #33 - Exit Rich...Retire Free Podcast

  Sep 30, 20265 min

  For two weeks, one thing has bullied this market: RISING INTEREST RATES. Every day, the 10-year Treasury seemed to climb—and stocks had to fight against it. This morning? THE VILLAIN FINALLY BLINKED. The Fed's preferred inflation gauge came in cooler than expected, Treasury yields finally ticked lower, and stocks responded. The S&P 500 and Nasdaq moved higher. AI stocks bounced. Nebius gained roughly 4%. Intel climbed about 3%. NVIDIA recovered from Tuesday's weakness. And the catalyst was inflation. CORE PCE: 3.0% Core PCE—the inflation measure watched closely by the Federal Reserve—rose about 3% over the past year, cooler than economists expected. That helped push the 10-year Treasury yield back toward: 5.24% That's not a dramatic drop. But after two weeks of relentless increases, it's the first genuine crack we've seen in the rate pressure. And there's another encouraging trend in today's report: inflation has continued ticking lower over the past several months. Daily Read #33 BUT THERE'S A CATCH We didn't get just one economic number this morning. We got three. And they don't all tell the same story. INFLATION: Cooler GDP: Revised up to 2.2% PRIVATE PAYROLLS: +90,000 That's where today's story gets interesting. Cooler inflation is clearly positive. It takes pressure off the Fed. It takes pressure off Treasury yields. And that helps stocks. But stronger economic growth and hiring? That's a double-edged sword. A strong economy is good for corporate earnings. But it also gives the Federal Reserve less reason to ease monetary policy. So today's message isn't: INFLATION IS FIXED. And it certainly isn't: THE RATE PROBLEM IS OVER. Instead: WE FINALLY GOT A CRACK IN THE PRESSURE. One cooler inflation report is meaningful. But the 10-year Treasury remains around 5.25%. The economy remains strong. And the Fed hasn't signaled an all-clear. Daily Read #33 WHAT I'M WATCHING NEXT Two major events remain this week. MICRON — TONIGHT Micron reports after the close. With earnings expected in the episode to grow more than 900% from a year ago, this is an important test of AI memory demand. As a memory-chip bellwether, Micron's report could influence the entire semiconductor group tomorrow. Then: SEPTEMBER JOBS REPORT — FRIDAY Today's private hiring data came in strong. Friday gives us the government's official employment report.

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  Episode #164

  Are You Paying More to Get Less? Why Most Funds Don't Beat the Market | COT 164

  Sep 29, 202628 minS3

  Are you paying more for an investment fund that isn't beating the market? In Episode 164 of The Cents of Things , Jeff Kikel and Ron Lang look at historical data showing how difficult it has been for actively managed large-cap domestic funds to outperform the S&P 500. That raises an important question for everyday investors: What are you actually getting for the fees you're paying? COT 164 But that's only one part of this week's conversation. Ron digs into recent retail spending data, including gasoline, department stores, furniture, home improvement and credit-card activity. Jeff and Ron then look at one of the biggest promises surrounding artificial intelligence: Is AI actually saving businesses money yet? Early survey data suggest some companies are beginning to see measurable savings, while many are still figuring out how to integrate AI into their business processes. COT 164 Then there's the M&A story. Deal activity is picking up in commercial and industrial services, with larger companies and private-equity firms acquiring owner-operated HVAC, plumbing and other service businesses. For aging business owners without an internal successor, that could create an increasingly important exit path. COT 164 In this episode: Why beating the S&P 500 is so difficult for active fund managers Active mutual funds versus ETFs What recent retail spending tells us Why home-improvement spending is slowing Whether businesses are actually saving money with AI Jeff's own experience measuring AI-related cost savings Why M&A activity deserves investors' attention Private equity's appetite for HVAC, plumbing and service companies The opportunity for Baby Boomer business owners looking to exit New-home sales and mortgage rates Initial and continuing jobless claims Next week's ADP, PCE, GDP and ISM reports Why the upcoming employment data could move markets Why investors may want to tune out political noise Plus, Ron's This Week in History takes us from the Bill of Rights and Rosetta Stone to Stonehenge, the B-29, the beginning of the nuclear age and old Yankee Stadium. COT 164 Smart Conversations. Stronger Financial Futures. #CentsOfThings #Investing #SP500 #MutualFunds #AI #BusinessOwners #MergersAndAcquisitions #Economy #FinancialEducation

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  The Cents of Things

  NVIDIA Is Fighting a 5.26% 10-Year—Who Wins? | Daily Read #32 - Exit Rich...Retire Free Podcast

  Sep 28, 20265 min

  The stock market looks relatively quiet today. But underneath the surface? THERE'S A HUGE FIGHT GOING ON. On one side: NVIDIA + AI NVIDIA just announced an enormous $150 BILLION stock buyback , while chip names including Applied Materials and Marvell are showing significant strength. On the other: INTEREST RATES The 10-year Treasury yield has climbed to roughly 5.26%—its highest level in years. And here's the clue that tells us which force is really driving this market: OIL IS FALLING. Oil dropped toward $90. If oil were still the market's primary problem, falling oil should be giving stocks a meaningful lift. It isn't. That's the tell. RATES ARE THE ROUTE NOW. In today's Exit Rich…Retire Free Daily Read , Jeff Kikel breaks down the tug-of-war happening underneath a deceptively quiet market—and why NVIDIA's massive buyback is helping the AI trade fight against one of the biggest valuation headwinds investors have faced in years. Daily Read #32 NVIDIA JUST BET $150 BILLION ON ITSELF What exactly does a stock buyback do? When a company buys back its own shares, two things happen. First, it reduces the number of shares outstanding. That means each remaining share represents a slightly larger piece of the company. Second, the company itself becomes a buyer of its own stock. And in NVIDIA's case we're talking about: $150 BILLION. That's an enormous potential source of demand. It's one reason NVIDIA can trade higher even while rising interest rates are putting pressure on much of the rest of the market. Daily Read #32 BUT RATES ARE FIGHTING BACK The 10-year Treasury has climbed to approximately: 5.26% That's important well beyond the bond market. Higher long-term rates affect: Mortgages Borrowing costs Business financing Stock valuations And particularly: HIGH-VALUATION GROWTH STOCKS. That's why today's market is such an interesting tug-of-war. You have one enormous force pulling downward: 5.26% Treasury yields And another pulling upward: AI leadership + NVIDIA's $150 billion buyback The result? A market that looks quiet on the surface but is anything but quiet underneath. Daily Read #32 THE BIG TELL: OIL For much of September, oil was one of the biggest forces driving markets. Today oil fell toward $90. But stocks didn't surge. Meanwhile, yields climbed and gold and silver came under significant pressure. That tells us something important: THE DRIVER CHANGED. When the old driver reverses and the market doesn't respond the way you would expect, look for the new driver. Right now: RATES ARE THE ROUTE. WHAT I'M WATCHING NEXT OPENAI DEVDAY — TODAY OpenAI's keynote could produce announcements capable of moving AI-related stocks. MICRON — WEDNESDAY AFTER THE CLOSE Micron earnings provide another important read on AI memory demand and could influence the broader semiconductor group. 10-YEAR TREASURY This remains the big one. If the 10-year keeps moving higher from roughly 5.26%, eventually even the strength in NVIDIA and AI may have trouble offsetting the pressure.

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  Episode #163

  What Happens After the Fed Raises Rates? | COT 163

  Sep 17, 202626 minS3

  The Federal Reserve raised rates. Now what? In Episode 162 of The Cents of Things , Jeff Kikel and Ron Lang look at what has historically happened to the stock market following a Fed rate increase—and why this particular cycle may be more complicated than the averages suggest. Historically, markets have often experienced some weakness immediately following an initial rate hike before recovering over the following months. But Jeff explains why the reason the Fed is raising rates matters . This time, the Fed is fighting inflation while energy prices remain elevated, particularly diesel fuel. That could make this cycle different from a more routine rate-hiking environment. Jeff and Ron also discuss the remarkable strength of corporate earnings. Nearly 88% of S&P 500 companies beat earnings estimates, while more companies are mentioning inflation during their earnings calls. In this episode: What historically happens after the Fed raises rates Why the first several weeks can be difficult for stocks Average market performance six and twelve months after a hike Why an inflation-fighting rate cycle can behave differently Lessons from the 2022 tightening cycle Which market sectors have historically performed better after rate hikes Why financial stocks don't always benefit from higher rates The impact of elevated diesel and energy prices What CPI is telling us about inflation Why so many companies are mentioning inflation on earnings calls Nearly 88% of S&P 500 companies beating earnings estimates The lag between a Fed decision and its effect on the economy Why markets may respond months before the economy does Plus, Ron's This Week in History takes us from the signing of the Constitution and The Star-Spangled Banner to General Motors, the Soviet moon program, Mary Kay, Pop-Tarts, Jimi Hendrix and the 2008 collapse of Lehman Brothers. Smart Conversations. Stronger Financial Futures. #CentsOfThings #Investing #FederalReserve #InterestRates #StockMarket #Inflation #FinancialEducation

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  The Cents of Things

  Mega Backdoor Roth: The 401(k) Strategy Most High Earners Miss | Retire Free - Exit Rich...Retire Free Podcast

  Sep 16, 20266 min

  Your 401(k) may have a feature hiding in plain sight that could allow you to move tens of thousands of additional dollars into Roth savings each year . Check out the full article here: https://www.surehorizonretirement.com/mega-backdoor-roth-high-earners It’s called the Mega Backdoor Roth — an unfortunately complicated name for a strategy that is actually pretty straightforward once you understand how it works. In this episode of Retire Free , Jeff Kikel breaks down the Mega Backdoor Roth in plain English and explains why your 401(k) actually has two different contribution limits . For 2026, most employees can defer $24,500 from their paycheck into a 401(k). But there is also a much larger $72,000 total contribution limit from all sources, before applicable catch-up contributions. That difference can potentially create a significant amount of unused retirement savings room. Jeff walks through the three basic steps: 1. Make an after-tax contribution to your 401(k) 2. Convert those dollars to Roth 3. Convert promptly to minimize taxable earnings But there’s an important catch: not every 401(k) allows it. Your employer's plan needs to permit after-tax employee contributions and provide a way to convert those dollars to Roth. Jeff explains exactly what to look for in your Summary Plan Description and what to ask your 401(k) recordkeeper. You'll also hear why having access to a Mega Backdoor Roth doesn't necessarily mean it should be your next financial move. Before committing additional money to retirement accounts, you may need to address your emergency reserves, accessible savings, other tax-advantaged accounts, and any significant concentration in company stock. That's why Jeff considers the Mega Backdoor Roth a surplus-savings strategy — the last bucket you fill, not the first. In this episode: The two 401(k) contribution limits most people don't know about How much additional 401(k) room you could potentially have How after-tax 401(k) contributions work How those contributions get converted to Roth Why the timing of your conversion matters The two plan features required for the strategy How to find out whether your employer's plan allows it The potential long-term value of Roth retirement income The liquidity trade-off you shouldn't overlook Where the Mega Backdoor Roth fits in your overall savings priorities Learn more and read the complete article at Freedom Day Wealth Management . Jeff Kikel President / Chief Investment Officer Freedom Day Wealth Management LLC More Than A Finish Line. Build Wealth. Protect What Matters. Live Free. This episode is for educational purposes only and is not individualized investment or tax advice. Tax rules and retirement-plan provisions can change and vary by plan. Consult a qualified professional regarding your individual circumstances.

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