Icons and Ideas with Peter Mallouk

How should the United States navigate a world shaped by conflict, geopolitical rivalry and shifting alliances? 70th U.S. Secretary of State and Former CIA Director Mike Pompeo joins Creative Planning President and CEO Peter Mallouk on Icons and Ideas to share his perspective on U.S. foreign policy, global security and American leadership.
Secretary Pompeo discusses Iran and the Middle East, the future of NATO, the Russia-Ukraine war and what he sees as the long-term challenge posed by China. He and Peter also explore Venezuela, U.S. alliances, the role of American economic power and when international events warrant U.S. involvement.
Beyond foreign policy, Secretary Pompeo shares the unexpected phone call that led to his nomination as CIA Director, answers Peter’s question about UFOs and reflects on political discourse, public service and what gives him hope for the next generation.
What You’ll Learn
✅ Secretary Pompeo’s perspective on Iran, deterrence and U.S. policy in the Middle East
✅ How Secretary Pompeo views the future of NATO, Russia, Ukraine and America’s global alliances
✅ Why Secretary Pompeo considers China a major long-term challenge for the United States
✅ What Secretary Pompeo’s experience as CIA Director and Secretary of State taught him about leadership and public service
Timestamps
(00:00) Who really runs the world: the president or the CIA?
(01:02) Secretary Pompeo on Iran and U.S. foreign policy
(06:05) Iran’s government and people — and what could happen next
(08:29) The future of NATO and European security
(12:07) Russia, Ukraine and why the war continues
(14:24) China and the long-term challenge for the United States
(16:34) Why alliances and the U.S. economy matter globally
(19:21) Venezuela, Latin America and U.S. interests
(21:06) When should America intervene in another country?
(22:48) What does a former CIA Director say about UFOs?
(24:13) The phone call that made Secretary Pompeo CIA Director
(26:22) Who holds the real power in the world?
(27:19) Political discourse and the next generation of leadership
(29:51) What gives Secretary Pompeo hope for America
(33:55) Why local public service can have the greatest impact
Key Takeaways
🔹 Global leadership requires alliances. Secretary Pompeo believes that the United States cannot achieve its foreign policy objectives alone and needs trusted international partners.
🔹 Economic strength is a foreign policy tool. Drawing on his time as Secretary of State, Secretary Pompeo describes access to the American economy as one of the most powerful forms of U.S. influence.
🔹 Political disagreement should focus on ideas. Secretary Pompeo says he hopes future campaigns emphasize argument, reason and policy rather than personal attacks and online noise.
🔹 Leadership begins closer to home. Secretary Pompeo encourages people interested in public service to consider school boards, city councils and other local roles where they can directly affect their communities.

About Mike Pompeo
Mike Pompeo served as the 70th U.S. Secretary of State, Director of the CIA and a four-term member of Congress representing Kansas. A West Point graduate who finished first in his class, he served as a U.S. Army cavalry officer before earning his law degree from Harvard and later leading businesses in the aerospace and energy industries.
After leaving government, Pompeo remained active in business and public policy. He is a co-founder and partner at Niobrara Investment Partners, serves as counsel at Torridon Law and chairs the Helms School of Government at Liberty University.
Mike Pompeo Website
Mike Pompeo Facebook
Mike Pompeo X
Mike Pompeo Instagram
Mike Pompeo YouTube

About the Host
Peter Mallouk is the President and CEO of Creative Planning, a financial advisor, an entrepreneur, a lawyer and a New York Times bestselling author. Since 2004, he has led Creative Planning in providing comprehensive wealth management services to individuals, families and businesses across the United States and abroad.
Recognized as a leading voice in wealth management, investing and financial planning, Peter brings decades of experience to his conversations with some of the world’s most accomplished leaders and thinkers. Through Icons and Ideas, he explores the pivotal decisions, lessons, failures and experiences that shape extraordinary careers and meaningful lives.

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Website: Peter Mallouk - President and CEO - Creative Planning
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Facebook: Official Peter Mallouk
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How should investors navigate market uncertainty without letting fear derail their long-term plans? Dimensional Fund Advisors Founder and Chairman David Booth, a New York Times bestselling author, joins Creative Planning President and CEO Peter Mallouk on Icons and Ideas to discuss the investing principles, academic research, and life lessons behind one of the world’s most influential investment firms.
David shares how studying under Nobel laureate Eugene Fama helped shape his belief in applying the science of investing rather than trying to outguess the market. He takes Peter inside the early days of Dimensional Fund Advisors, from testing the idea of a small-cap fund with institutional investors to working with Vanguard founder Jack Bogle to help launch the firm’s first mutual fund.
David and Peter also explore why uncertainty creates opportunity, the behavioral mistakes that can permanently hurt investors and why remaining invested matters during volatile markets. Beyond investing, David reflects on philanthropy, purchasing James Naismith’s original rules of basketball, the meaning of true wealth and the values that have guided his career and life.
What You’ll Learn
✅ How academic research helped shape David Booth’s approach to investing and the creation of Dimensional Fund Advisors
✅ Why uncertainty is a necessary part of investing and can create opportunities for long-term investors
✅ Why investor behavior and staying invested can matter as much as investment strategy
✅ How David thinks about true wealth, philanthropy, values and building a meaningful legacy
Timestamps
(00:00) Why uncertainty creates investment opportunity
(01:12) The leadership lesson David Booth learned selling shoes
(03:32) How Eugene Fama changed David’s approach to investing
(06:06) The early research that helped shape modern investing
(08:35) The idea that became Dimensional Fund Advisors
(12:25) How Jack Bogle helped Dimensional get started
(13:28) Why uncertainty creates investment opportunity
(16:39) Why there are no mulligans in investing
(18:15) Why investors need the right financial advisor
(19:33) The science behind Dimensional’s investment philosophy
(21:12) Buying the original rules of basketball
(25:12) David Booth’s approach to philanthropy and true wealth
(32:25) Why you should “go for the best” in your career
(33:24) The connection between art and the science of investing
(35:53) The mentors who shaped David Booth
(38:21) How to evolve your role throughout your career
(39:53) What it means to feel safe as an investor

Key Takeaways
🔹 Uncertainty creates opportunity. Investors can’t eliminate uncertainty, but they can seek opportunities for higher expected returns.
🔹 Staying invested matters. Emotional decisions during market declines can turn temporary volatility into permanent losses.
🔹 Investing should be evidence-based. Dimensional applies financial science and academic research to real-world investing.
🔹 True wealth goes beyond money. For David, wealth is rooted in family, values and what matters most.

About David Booth
David Booth is the Founder and Chairman of Dimensional Fund Advisors, a $1 trillion global investment firm known for its evidence-based approach. Over five decades, he has helped bridge academic research and practical investing, including work that helped shape index and factor investing.
Booth studied at the University of Kansas and the University of Chicago, whose business school bears his name. His philanthropy also includes the largest donation in University of Kansas history and support for arts and conservation initiatives.
Stay Calm: https://www.staycalminvesting.com/about-the-author
LinkedIn: linkedin.com/in/david-g-booth
Dimensional Fund Advisors Website: https://www.dimensional.com/

About the Host:
Peter Mallouk is the President and CEO of Creative Planning, a financial advisor, an entrepreneur, a lawyer and a New York Times bestselling author. Since 2004, he has led Creative Planning in providing comprehensive wealth management services to individuals, families and businesses across the United States and abroad.
Recognized as a leading voice in wealth management, investing and financial planning, Peter brings decades of experience to his conversations with some of the world’s most accomplished leaders and thinkers. Through Icons and Ideas, he explores the pivotal decisions, lessons, failures and experiences that shape extraordinary careers and meaningful lives.

Connect with Peter Mallouk
Website:Peter Mallouk - President & CEO - Creative Planning
X (Twitter): @PeterMallouk
LinkedIn: Peter Mallouk on LinkedIn
Instagram: @peter_mallouk
Facebook: Official Peter Mallouk
Follow Creative Planning
X (Twitter): @CPIWealth
LinkedIn: Creative Planning on LinkedIn
Instagram: @creativeplanning_llc
Facebook: Creative Planning Facebook Page
Browse More Icons and Ideas Episodes
YouTube Playlist: Watch the Full Icons and Ideas Playlist
Official Website: Icons and Ideas Podcast
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Signal or Noise: Watch Signal or Noise on YouTube
Down The Middle: Listen to Down The Middle on Spotify

What if achieving everything you want still doesn’t give you the life you’re looking for? "Inner Excellence" author and former professional baseball player Jim Murphy joins Creative Planning President and CEO Peter Mallouk on Icons and Ideas to explore why achievement, confidence, money and status alone don’t create fulfillment and what it really takes to perform at your best under pressure.
Jim shares the remarkable journey that took him from professional baseball and the Chicago Cubs organization to giving away most of what he owned and moving to the Arizona desert in search of a greater purpose. He explains the principles behind “Inner Excellence,” including why presence can be more powerful than confidence, how our attachment to possessions, achievements, looks, money and status can hold us back and why the goals we chase may not be what we truly want.
Jim also reflects on the unexpected moment Philadelphia Eagles wide receiver A.J. Brown was seen reading "Inner Excellence" during an NFL playoff game, sending a book that had struggled for 16 years into the spotlight. Through it all, Jim challenges high achievers to redefine success, pursue a fullness of life and devote themselves to something greater than themselves.
What You’ll Learn
✅ Why presence and belief can be more powerful than confidence under pressure
✅ How chasing possessions, achievements, looks, money and status can create an illusion of success
✅ What Jim Murphy learned from 16 years of persistence before "Inner Excellence" became a breakout success
✅ Why pursuing purpose, unconditional love and a fullness of life can matter more than conventional achievements
Sponsored By
This episode is brought to you by Apollo. Private markets have evolved, and public markets capture only part of the opportunity. Apollo brings more than 35 years of experience across the breadth of private markets. Learn more at Apollo.com/ASPM
Timestamps
(00:00) Jim Murphy on why success isn’t enough
(01:50) Leaving everything behind for the Arizona desert
(04:12) How elite athletes perform under extreme pressure
(06:37) The Three Worlds model and the problem with chasing results
(08:59) How A.J. Brown changed Inner Excellence overnight
(12:23) PALMS: possessions, achievements, looks, money, and status
(14:06) Why the heart decides and the mind follows
(16:05) Why presence and belief can be more powerful than confidence
(19:15) Why even the biggest goals may be too small
(21:22) Selflessness, fear, love, and finding a purpose beyond yourself
Key Takeaways
🔹 Success isn’t necessarily fulfillment. Jim believes people often pursue money, status, championships and recognition because of what they think those achievements will make them feel rather than because of the achievements themselves.
🔹 Presence can be more powerful than confidence. Confidence is the feeling that you can accomplish something. Jim describes belief as knowing you’ll be okay regardless of the outcome, while presence removes attachment to the past and future.
🔹 Focus on what you can control. The four daily goals of "Inner Excellence" are to give your best today, be present, be grateful, and focus on your routines and what you can control.
🔹 Purpose goes beyond personal achievement. Jim argues that complete freedom and material success can still leave people feeling empty. He believes a powerful vision and purpose beyond yourself can create a deeper sense of being fully alive.


About Jim Murphy

#1 New York Times bestselling author Jim Murphy is a Performance Coach to some of the best athletes and leaders in the world. He began his career as a professional baseball player in the Chicago Cubs organization. After experiencing vision issues that ended his playing career, Murphy coached with the Texas Rangers as well as the South African Olympic baseball team. He has worked with some of the world’s best golfers, including world champions, FedEx Cup champions, and world #1s. The majority of Murphy’s clients have the best year of their careers in their first year working with him. In addition to coaching professional athletes and executives, Murphy leads "Inner Excellence" offsite retreats around the globe. He’s the president of the "Inner Excellence" Freedom Project, whose mission is to build communities to alleviate spiritual and physical poverty around the world.

Website: Jim Murphy "Inner Excellence" https://innerexcellence.com/
LinkedIn: linkedin.com/in/innerexcellence
Instagram: https://www.instagram.com/innerexcellencejimmurphy/
Connect with Peter Mallouk
Website:Peter Mallouk - President & CEO - Creative Planning
X (Twitter): @PeterMallouk
LinkedIn: Peter Mallouk on LinkedIn
Instagram: @peter_mallouk
Facebook: Official Peter Mallouk
Follow Creative Planning
X (Twitter): @CPIWealth
LinkedIn: Creative Planning on LinkedIn
Instagram: @creativeplanning_llc
Facebook: Creative Planning Facebook Page
Browse More Icons and Ideas Episodes
YouTube Playlist: Watch the Full Icons and Ideas Playlist
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Signal or Noise: Watch Signal or Noise on YouTube
Down The Middle: Listen to Down The Middle on Spotify

What does the future of investing look like as artificial intelligence, private markets and speculation reshape finance? Vanguard CEO Salim Ramji joins Creative Planning President and CEO Peter Mallouk on Icons and Ideas to discuss the principles that have made Vanguard one of the most influential investment firms in the world and how those principles are evolving for the next generation of investors.
Salim also shares why Vanguard is acquiring Altruist and how the move could expand access to high-quality financial advice while empowering more independent advisors to serve more families.
Salim shares how Vanguard is carrying forward Jack Bogle’s legacy of low-cost, diversified, long-term investing while expanding into areas including ETFs, fixed income, private markets and financial advice. He and Peter also explore the growing divide between investing and speculation, Vanguard’s approach to Bitcoin and prediction markets, and why AI could dramatically expand access to high-quality financial advice. Salim also reflects on leadership, Vanguard’s unique culture and the simple advice that changed the trajectory of his career.
What You’ll Learn
✅ Why Vanguard continues to prioritize low-cost, diversified and long-term investing
✅ How Salim Ramji thinks about private markets, Bitcoin and the rise of speculative investing
✅ Why AI could transform financial advice and expand access for millions of Americans
✅ How Jack Bogle’s philosophy continues to influence Vanguard’s strategy and culture
This episode is brought to you by Blackstone. With proven performance for over 40 years, Blackstone’s investment strategies across private equity, real estate, credit and infrastructure are designed to help investors build wealth by diversifying portfolios beyond stocks and bonds.
Learn more at Blackstone.com.
Timestamps
(00:00) The leadership advice that changed Salim Ramji’s career
(01:49) Vanguard announces its acquisition of Altruist
(07:00) Jack Bogle’s legacy and the evolution of Vanguard
(09:55) The investing principles Vanguard refuses to change
(15:38) Becoming the first outsider to lead Vanguard
(21:16) Meme stocks and the line between investing and gambling
(23:21) Vanguard’s position on Bitcoin and speculative investing
(27:47) Why Vanguard is moving into private markets
(32:18) Vanguard’s influence on corporate America
(36:01) How AI could transform financial advice
(45:06) Jack Bogle, mentorship, and the future of leadership

Key Takeaways
🔹 Vanguard’s products may evolve, but its core principles of low costs, diversification and long-term investing remain central to the firm’s philosophy.
🔹 Salim warns that meme stocks, prediction markets and other forms of speculation risk blurring the important distinction between investing and gambling.
🔹 Private markets could play a role in certain investor portfolios, but Salim believes greater transparency and more client-friendly fees are essential.
🔹 AI has the potential to complement human financial advisors while expanding access to financial advice for Americans who currently can’t afford or access an advisor.

About Salim Ramji
Salim Ramji is Chief Executive Officer of Vanguard and a member of the firm’s board of directors, leading 20,000 crew dedicated to giving all investors the best chance for investment success. Founded in 1975, Vanguard provides investments, advice and retirement services to more than 50 million individual investors around the world through direct investing, workplace plans and financial intermediaries.
Throughout his career, Salim has worked to make investing more accessible and empower investors to prepare for a secure retirement. Prior to joining Vanguard in July 2024, he spent 30 years in leadership roles spanning investments, capital markets and wealth management.
Salim holds a bachelor’s degree in economics and politics from the University of Toronto and an M.A. in law from Cambridge University. He’s also a CFA® charterholder.
Website: https://investor.vanguard.com/
LinkedIn: https://www.linkedin.com/in/salim-ramji/
Jack Bogle
Sponsored By
This episode is brought to you by Blackstone. With proven performance for over 40 years, Blackstone’s investment strategies across private equity, real estate, credit and infrastructure are designed to help investors build wealth by diversifying portfolios beyond stocks and bonds.
This episode includes an advertisement by the sponsor. The advertisement does not constitute or imply an endorsement, recommendation or affiliation between the sponsor and Creative Planning.

Connect With Peter Mallouk
Website: Peter Mallouk - President and CEO - Creative Planning
X (Twitter): @PeterMallouk
LinkedIn Peter Mallouk on LinkedIn
Instagram: @peter_mallouk
Facebook: Official Peter Mallouk
Follow Creative Planning
X (Twitter): @CPIWealth
LinkedIn: Creative Planning on LinkedIn
Instagram: @creativeplanning_llc
Facebook: Creative Planning Facebook Page
Browse More Icons and Ideas Episodes
YouTube Playlist: Watch the Full Icons and Ideas Playlist
Official Website: Icons and Ideas Podcast
Check Out Peter’s Other Podcasts
Signal or Noise: Watch Signal or Noise on YouTube
Down The Middle: Listen to Down The Middle on Spotify

What does it actually mean to be wealthy? Bestselling author Morgan Housel joins Peter Mallouk to explore why building wealth has less to do with intelligence and more to do with behavior, independence and understanding what money is really for.

Morgan shares the thinking behind “The Psychology of Money,” why every U.S. publisher initially rejected the book, and the stories that shaped his approach to money and investing. He explains why financial success is often driven by behavior rather than knowledge, why getting rich and staying rich require different skills, and why some of the best financial decisions can’t be measured on a spreadsheet.

Morgan addresses the difference between being rich and being wealthy, raising kids with healthy money habits, taking risks, dealing with success and defining "enough" in his refreshingly human perspective on building wealth and living a meaningful life.
What You'll Learn in This Episode
✅ Why financial behavior can matter more than intelligence when building long-term wealth
✅ The difference between being rich and being truly wealthy and why Morgan defines wealth through independence
✅ Why the mathematically "best" financial decision isn't always the best decision for your life
✅ How risk, expectations, happiness and knowing when you have "enough" can shape financial success
This episode is brought to you by Avantis Investors. Broad diversification and thoughtful implementation. Daily oversight and low fees. You don’t have to choose. Start saying “and.” Talk to your advisor about Avantis and visit avantisinvestors.com.
Timestamps
(00:00) “The Psychology of Money”, Wealth and What Actually Makes You Rich
(01:33) Why Morgan Housel's writing resonates around the world
(06:39) Why behavior matters more than intelligence with money
(13:49) Why we've “solved” investing but not investor behaviors
(18:38) The avalanche tragedy that changed Morgan's view of risk
(26:01) Why wealthy people can still lose everything
(30:47) The difference between being rich and wealthy
(36:05) Why Morgan paid off a low-interest mortgage
(40:26) How successful investors think about market volatility
(47:51) Teaching kids healthy money habits
Key Takeaways
🔹Financial success is behavioral. Intelligence and financial knowledge matter, but how you behave with money can ultimately matter even more.
🔹 Wealth is about independence. Morgan distinguishes being rich from being wealthy by the freedom your financial resources give you over your time and decisions.
🔹 Not every return belongs in a spreadsheet. Peace of mind, stability, flexibility and sleeping well at night can have tremendous value even when they aren't mathematically optimal.
🔹 Lead by example with money. When teaching children about finances, Morgan believes everyday behavior can have more influence than lectures about what they should or shouldn't do.

About Morgan Housel
Morgan Housel is the New York Times Bestselling author of The Psychology of Money, The Art of Spending Money, and Same As Ever. His books have sold over 12 million copies and have been translated into more than 60 languages.
He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award. MarketWatch named him one of the 50 most influential people in markets. He's a partner at The Collaborative Fund and serves on the board of directors at Markel.
Website: https://www.morganhousel.com/
X: https://x.com/morganhousel
YouTube: https://www.youtube.com/@Morgan-Housel
LinkedIn: linkedin.com/in/morgan-housel-5b473821

Sponsored By
This episode is brought to you by Avantis Investors. With strategies designed around broad diversification, thoughtful implementation, daily oversight and low fees, Avantis helps investors say “and” instead of “or.” Talk to your advisor about Avantis and visit avantisinvestors.com.
This episode includes an advertisement by the sponsor. The advertisement does not constitute or imply an endorsement, recommendation or affiliation between the sponsor and Creative Planning.
Connect with Peter Mallouk
Website: Peter Mallouk - President & CEO - Creative Planning
X (Twitter): @PeterMallouk
LinkedIn: Peter Mallouk on LinkedIn
Instagram: @peter_mallouk
Facebook: Official Peter Mallouk
Follow Creative Planning
X (Twitter): @CPIWealth
LinkedIn: Creative Planning on LinkedIn
Instagram: @creativeplanning_llc
Facebook: Creative Planning Facebook Page
Browse More Icons and Ideas Episodes
YouTube Playlist: Watch the Full Icons and Ideas Playlist
Official Website: Icons and Ideas Podcast
Check Out Peter’s Other Podcasts
Signal or Noise: Watch Signal or Noise on YouTube
Down The Middle: Listen to Down The Middle on Spotify