Episode 537: Bitcoin Gambling Problems, Resources For Understanding Managed Futures, Window Dressing Withdrawal Strategies, And Portfolio Reviews As Of September 4, 2026

In this episode we answer emails from Optimus Bill, Sin Nombre, Darren, and George.  We discuss sizing small bitcoin ETF allocations, identify resources to learn more about managed futures, and talk about how underspending or hoarding strategies are often dressed up in various ways that often have surface appeal, but are ultimately unnecessarily restrictive and lack meaningful or useful purpose.  Basic financial tools like selling shares are meant to be used, not avoided.

And THEN we our go through our weekly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.

Links:

Father McKenna Center Donation Page:  Donate - Father McKenna Center

Catching Up To FI -- Donor Advised Funds:  A Donor-Advised Fund For You (Daffy): Democratizing Philanthropy for Everyone | Adam Nash | 200

Understanding Managed Futures Paper:  Understanding Managed Futures

Demystifying Managed Futures Paper:  Demystifying Managed Futures

A Century of Evidence on Trend-Following Investing Paper:  A Century of Evidence on Trend-Following Investing

List of Books from Top Traders Unplugged:  Top Traders Unplugged Ultimate Guide to Investing Books.pdf - Google Drive

"Follow The Trend" Book:  Amazon.com: Following the Trend: Diversified Managed Futures Trading (Wiley Trading): 9781119908982: Clenow, Andreas F.: Books

Excess Returns Managed Futures Presentation:  Why Most Investors Won't Buy the Best Diversifier | Andrew Beer on Managed Futures

Overcoming Underspending Habits To Improve Well-Being in Retirement:  RPR Episode 436 Illustrated: The Two Halves of Your Financial Life

Breathless Unedited AI-Bot Summary:

Bitcoin in a risk parity portfolio sounds like a harmless side bet, until you ask the only question that matters: will a tiny allocation actually move the needle, or is it just a story you tell yourself? We dig into the practical reality of a 1% Bitcoin ETF position, why volatility can make small weights matter, and why correlation to tech stocks can feel stable one month and chaotic the next. If you’re considering crypto as a “moonshot” inside a diversified portfolio, we talk about what makes it behave like a levered risk asset and how to keep it from dominating your results.

Next, we respond to a listener who wants to learn managed futures and trend following the right way. We lay out a no-fluff roadmap: key papers, episodes to revisit, book recommendations, and ongoing video resources from fund providers. If you’ve been looking at managed futures ETFs like DBMF or KMLM and wondering what they really add to a portfolio, this section helps you separate trading curiosity from allocation decisions, and makes the case for managed futures as a serious diversifier alongside stocks, bonds, gold, commodities, and REITs.

Then we tackle a retirement hot button: living off dividend ETF income and never selling shares. We argue that “dividend-only” is often just window dressing for an ultra-low spending plan, and we make the case that selling shares is a normal tool, not a moral failure. We close with our September portfolio review and monthly distributions across the sample portfolios, including leveraged and return-stacked designs, so you can see real-world asset allocation decisions play out.

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