The Plain Bagel

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2025 has been a crazy year - let's unwind with the annual finance rewind and review what these past 12 months meant for markets and the world economy.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel

DISCLAIMER:
This channel is for education purposes only and does not c...

The US is in a trade war with China, and after a rapid escalation, has seemingly pivoted with a recent exemption. Let's dive into what it all means for the US economy.

00:00 – Overview
02:43 – Timeline
04:01 – Why China?
05:57 – The Impact of a Trade War on the US
07:23 – Treasury Yields
09:30 - Is China Causing This?
11:13 – Other Possible Causes

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financia...

00:00 - Intro
03:50 - Why bitcoin’s price has fallen
05:27 - The decline of treasury companies
08:33 - Is Strategy about to collapse?
12:56 - The JPMorgan conspiracy
15:40 - Debunking the claims

Richard does not hold a position in JPM, MSTR or any other bitcoin treasury companies.

With bitcoin's price down, bitcoin treasury companies have been pummeled - now investors are blaming JP Morgan. Today we dive into what's happening.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:

The Plain Bagel Q&A 3

Question topics: Arbitrage, EA loot boxes, Greek debt, my background education, and the Robinhood trading app

*Richard has no affiliation or business relationship with the Robinhood.

The Plain Bagel Episode IV

Cash Equivalents, along with stocks and bonds, belong to the Traditional Investment category, while the Alternative Investment category pretty much encompasses everything else. This video finishes our discussion of the primary investments by covering cash equivalents, real estate, commodities, and derivatives.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music (Licensed): http://freemusicarchive.org/music/Podington_Bear/

Sources:
https://www.wealthdaily.com/articles/whats-10-times-bigger-than-the-global-economy/6241

Some huge news for the channel

"Election Music" by MUSIC4VIDEO (https://youtu.be/xOc9U6nMtn8?si=sFPqblwqM0MSEjdo)

00:00 - Intro
01:36 - The Supreme Court Ruling
03:23 - What Tariffs Are Impacted?
05:02 - What About Refunds?
06:57 - The Implications
07:46 - Section 122 Tariffs
09:54 - Trump's Tariff Options
11:46 - Why the Update Still Matters

The US Supreme Court has ruled that Trump's IEEPA tariffs are illegal - let's dive into what this means and how else Turmp may pursue tariffs.

News Theme 1 by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/

Artist: http://audionautix.com/

DISCLAIMER:
This channel is...

00:00 - Introduction
02:23 - ChatGPT Announcement
05:44 - The Pros
07:54 - Advice Concerns
10:09 - Regulatory Ambiguity
14:22 - Considerations for Using AI Advisors
16:56 - Will AI Replace Advisors?

Dead on the Money Podcast Episode: https://youtu.be/po9zpbVQOYE?si=1B2Ff87jzRakyMdr

ChatGPT announced this week that it would allow users to connect their bank/investment accounts to the platform to receive AI advice for their finances - today we dive into the implications.

DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice...

Last weekend, the US captured Venezuelan dictator Nicolas Maduro and made moves to secure the country's oil. Today we'll discuss the feasibility of building out Venezuela's oil industry, and the risk it poses to Canada as a key oil supplier to the US.

DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice - Richard is not responsible for investment actions taken by viewers. Please seek out a registered advisor if you require assistance (while Richard is a registered portfolio manager at WDS Investment Management, he does not provide advice through The...

00:00 - Introduction
02:45 - Primer
05:11 - Why are yields rising
05:58 - Credit Rating Downgrade
07:57 - One Big Beautiful Bill
09:33 - The Weak 20-year Auction
10:55 - Japan’s Role?
11:26 - Why High Yields Matter
13:30 - Why it’s not a financial crisis

Link to video comparing US banks to Silicon Valley Bank: https://youtu.be/ZPlrkr1qaE0?si=mwyYceZiSl-B0qsn

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and...

The Plain Bagel Q&A 2

Question topics: The time it takes to invest, how to buy investments, gambling, income vs revenue, renting vs buying real estate

*I apologize for the color issues with the video – we had technical lighting difficulties while filming*


Episode Music:
Marty Gots a Plan by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100671
Artist: http://incompetech.com/

With Crypto Week having drawn to a close, let's take some time to go through the laws that have passed, and what's trying to be passed - we'll go over the Genius Act, Clarity Act, and Anti-CBDC Act.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel...

Interest rates are on the rise in both Canada and the U.S., what does this mean for consumers and investors? Find out with today's episode!

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/

To clarify, Hitler was NOT the founder of the Nazi party, sorry for any confusion!

The Great Depression was the worst economic downturn of the industrialized world, crippling the wealth of Americans throughout the 1930's. How did it happen? Let's find out with a 5 Minute History Lesson.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music:
Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100794
Artist: http://incompetech.com/

The Grossman-Stiglitz Paradox is one which highlights that stock markets cannot possibly be efficient. Why? Let's find out on today's Plain Bagel!

Make sure to check out Ben Felix's channel, Common Sense Investing: https://www.youtube.com/channel/UCDXTQ8nWmx_EhZ2v-kp7QxA

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not...

This Saturday, the current U.S. bull market turns 10 years old, the first to ever do so in America. But many are concerned that a bear market is waiting around the corner. Why? Let's find out on today's Plain Bagel!

Intro/Outro Music: https://www.bensound.com/royalty-free-music

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a...

00:00 - Introduction
02:12 - Why Economists Disagree
04:06 - Where’s the inflation?
08:12 - Are Tariffs Deflationary?
10:00 - What About Manufacturing?
11:32 - New Investments in the US
15:06 - Why is GDP Growing?

Despite economists warning on the negative impact of tariffs, the US has been reporting stronger-than-expected GDP growth, record tariff revenue, and trillions of inbound investment commitments. Let's dive into whether tariffs are actually improving the US economy.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
Th...

Some exciting news for the channel!

Intro/Outro Music: https://www.bensound.com/royalty-free-music

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.

Welcome to the 10th TikTok Review video!

My name is Richard Coffin, I'm an investment analyst with my Chartered Financial Analyst and Certified Financial Planner designations, registered with the Ontario Securities Commission as a portfolio manager.

Cover call video: https://youtu.be/R0JeJdiJc1A?si=WN-kRgKH0heQg3WE

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel - those looking for investment advice...

00:00 - Introduction
02:23 - Canada's Supply Management
04:20 - Canada's Tariff Rates
06:22 - Tariff Rate Quotas
06:51 - US Preferential Rates
08:24 - Quota Underutilization
10:22 - US' Own Restrictions
12:06 - Closing Remarks

USMCA Trade Deal: https://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement/agreement-between
CBSA Tariff Rates: https://cbsa-asfc.gc.ca/trade-commerce/tariff-tarif/2024/01-99/01-99-2024-1-eng.pdf
WTO Portal: https://tao.wto.org/welcome.aspx?ReturnUrl=%2f%3fui%3d1&ui=1


There's been a lot of discussion of Canada's tariffs against US imports, most of which has been misleading or...

Richard does not hold a position in MSTR or any other bitcoin treasury companies.

Bitcoin treasuries have become a popular strategy for companies thanks to Michael Saylor and his firm Strategy (formerly MicroStrategy). Let's dive into how this idea has taken off, and what it means for bitcoin.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment...

The Plain Bagel Episode III

Shares represent a percentage ownership of a business. This video covers investing in equity, and how stocks payoff for investors.

Intro/Outro Music: https://www.bensound.com/royalty-free-music

Episode Music (Licensed): http://freemusicarchive.org/music/Podington_Bear/

Sources:
http://www.bankrate.com/investing/millennials-slow-to-start-investing-in-stock-market-bankrate-survey-finds/
http://www.businessinsider.com/50-cent-files-for-bankruptcy-2015-7
https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?end=2016&locations=IN&start=1976
https://ycharts.com/companies/NKE/shares_outstanding

The Plain Bagel Episode VIII

Investments are a great way to expand one's wealth, but don't be fooled - there are still fees to pay for the services provided to you. In this video, we'll go over the types of costs you'll pay as an investor, as well as how you can learn more about the specific fees you face.

MUTUAL FUND SERIES INFORMATION:
- https://www.getsmarteraboutmoney.ca/invest/investment-products/mutual-funds-segregated-funds/mutual-fund-series/

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/
Sources...

On Sunday the US and EU announced a trade deal, subverting a massive trade war - let's go over the details of the agreement.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not...

To learn for free on Brilliant (today's sponsor), go to https://brilliant.org/theplainbagel. Brilliant’s also giving viewers 20% off an annual Premium subscription, which gives you unlimited daily access to everything on Brilliant!

00:00 - Introduction
02:14 - Why Investors Buy Gold
04:10 - Why Gold's Rallying
08:34 - The Debasement Trade
09:47 - Considerations
13:27 - Gold's Questionable Price Stability
16:11 - Sponsor

Gold's price has been skyrocketing, with murmurings of a great "debasement trade" driving returns. Today we'll dive into what's driving performance, and the overall trends around gold.

If you'd li...

Correction: At 4:20, the graph in the top left-hand corner is slightly off; for total return, the curve should not intercept at (30,0), but rather should be shifted slightly to the left so that the bend in the line occurs at (30,-2). Sorry for the blunder.

Option Pricing Factors:
- Underlying stock price (higher = higher call premium, lower put premium)
- Underlying stock price volatility [expected] (higher = higher option premium)
- Underlying stock dividends (higher = lower call premium, higher put premium)
- Option's strike price (higher = lower call premium, higher put premium)
- Time...

Get your free trial with Blinkist (today's sponsor) and save an additional 30%. Go to http://blinkist.com/bagel.

My name is Richard Coffin, I'm an investment analyst with my Chartered Financial Analyst and Certified Financial Planner designations, registered with the Ontario Securities Commission as a portfolio manager.

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a...

You may have read news articles or heard somewhere that "the yield curve is flattening," but what does that mean? Find out with today's video!

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible...

The Plain Bagel Q&A 4

More Details on QE:
QE is a concerted effort to provide additional monetary stimulus to the economy in order to light a fire under it and get growth increasing again. If we look back at recent history, during and for a long period after the financial crisis of 08/09, the central banks dropped their key interest rates to zero or virtually zero. They did this in order to incentivize the commercial banking system to borrow free money and then easily lend that same money out into the financial system for an easy...

00:00 - Intro
02:22 - Recap
04:47 - The Latest Tariff Update
05:47 - The CUSMA Exemption
08:04 - Effective Tariff Rates
08:58 - The (Still) Negative Impact of Tariffs
10:34 - Where Canada Goes From Here
12:40 - Conclusion

On Thursday we got the news that Canada would be seeing its tariff rate increase to 35% after failing to reach a new agreement with the US. Today we'll discuss what it means for Canada's economy, and why the tariff rates ACTUALLY being paid are far from this amount.

If you'd like to support the channel, you...

The Plain Bagel Episode II

Companies use debt to help fund their projects, borrowing money from investors to grow their business. This video covers bonds, the instrument these firms use to raise their debt.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music (Licensed): http://freemusicarchive.org/music/Podington_Bear/

Synthetic stocks are investments that replicate a stock's return; in other words, they earn money from a company's success despite having no ownership of the firm. Today, let's go through the exercise of creating one so we can better understand just how capable the world of options truly is.

NOTE: As mentioned, this example is grossly oversimplified and doesn't take into transaction costs nor contract sizes.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/

DISCLAIMER:
This channel is for education purposes only and...

The Plain Bagel Episode X

In investments, you can't have return without taking on some risk. Today, let's look into better understanding the types of risks we'll face with our holdings, and how we can manage them.

Sources:
https://www.osc.gov.on.ca/documents/en/Investors/inv_research_20171127_missing-out-report.pdf

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/

The Plain Bagel Q&A 1

Question topics: books on finance, “average person” investments, starting off, liquidity, and stock splits

Here’s a list of the books suggested by my colleagues. The first few are on personal finance, while the last two focus specifically on investing:
- Moolala: Why smart people do dumb things with their money (and what you can do about it) by Bruce Sellery
- Wealthing Like Rabbits by Robert R. Brown
- Personal Finance For Canadians For Dummies by Eric Tyson & Tony Martin
- Millionaire Teacher by Andrew Hallam...

Markets are falling, and the world is in a full fledged trade war - let's watch some TikToks.

My name's Richard Coffin, I'm an investment analyst with my Chartered Financial Analyst and Certified Financial Planner designations, registered with the Ontario Securities Commission as a portfolio manager.

If you'd like to support the channel, you can do so at https://www.patreon.com/c/ThePlainBagel :)

DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard...

It's been 10 years since Nortel Networks, a Canadian behemoth, filed for bankruptcy protection, not long after it had grown to represent more than a third of the Canadian stock market. Let's dive into what brought down the massive company with today's 5 Minute History Lesson.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music:
Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100794
Artist: http://incompetech.com/

It's been a year since I posted my first video, just thought I'd provide a bit of a reflection on the channel thus far. :)

The Plain Bagel Episode XI

As humans, we tend to fall victim to different biases when making financial decisions. Let's take a look at behavioral finance and explore how we can circumvent these common pitfalls.

Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music: http://freemusicarchive.org/music/Podington_Bear/

Found a video of me trying to scam my viewers.