Animal Spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, listening to and watching. Look for new episodes every Wednesday morning. See our disclosures here - https://ritholtzwealth.com/podcast-youtube-disclosures/
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On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Don Casturo, CIO at Quantix Commodities LP and Kristof Gleich, President & CIO at Harbor Capital to discuss: how to invest more thoughtfully in a broad basket of commodities, how investors typically allocate to commodities as an asset class, why the index doesn't make sense anymore and how commodities can hedge more traditional p...
On episode 427 of Animal Spirits, Michael Batnick and Ben Carlson discuss what happens to the stock market after Fed rate cuts, is this 1996 or 1999, why value stocks need a recession, investors love options, how people invested before the Internet, why we need a correction and much more. This episode is sponsored by Invesco. To learn more about Invesco’s income advantage ETFs. Visit https://www.invesco.com/income-advantage Sign up for The Compound...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by John Burrello, Senior Portfolio Manager at Invesco to discuss: their Income Advantage suite of ETFs, how options work, the risks involved in big payouts and more. Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor...
On episode 426 of Animal Spirits, Michael Batnick and Ben Carlson discuss why the stock market is getting boring, S&P 493 vs. the Mag 7, are small caps dead, it's tough being a contrarian, healthcare stocks are cheap, the K-shaped food industry, the tariff impact is coming, renting vs. buying, million dollar houses and more. This episode is sponsored by YCharts. Visit https://go.ycharts.com/animal-spirits and Get 20% off your initial YCharts Profes...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Craig Bewick, Head of Retail Education for the CME Group to discuss: how futures contracts work, why retail investors are becoming a bigger part of the futures market and more. Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor...
On episode 425 of Animal Spirits, Michael Batnick and Ben Carlson discuss 1990s nostalgia, the growing importance of the stock market on the economy, the Nifty Fifty vs. the Mag 7, buying Nike as a falling knife, the K-shaped economy, flying private, Tom Lee likes ETH, the 50/30/20 rule and more. This episode is sponsored by Pacer ETFs and Fabric by Gerber Life Learn more about COWG at http://paceretfs.com/ Join the thousands of parents who trust Fabri...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Matt Bartolini, Managing Director at State Street Investment Management to discuss: investing in the Dow Jones Industrial Average, a history of the Dow, how it compares to the other indexes, and more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Ir...
On episode 424 of Animal Spirits, Michael Batnick and Ben Carlson discuss: how AI bailed out the stock market and economy, a history of capex bubbles, the Carvana comeback, investors are trading everything, the labor market debate, vibes vs. data, $1 billion job offers, where home prices are falling, Michael buys a new house, condos are crashing, FAFO parenting and more. This episode is sponsored by YCharts and Vanguard. Get 20% off your initial YChart...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Alex Morris of F/m Investments to discuss their new Compoundr ETF Series, diversifying your bonds and more. Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspirits@thec...
On episode 423 of Animal Spirits, Michael Batnick and Ben Carlson discuss an AI bubble floor under the market, when to sell NVDA, strategies that don't work anymore, how the housing market is impacting the stock market, the trade war is over, the summer crypto trade, investors are still buying homes, a bad idea for your 401k, Happy Gilmore 2 and more. This episode is sponsored by Vanguard. Learn more at: https://vgi.vg/3GbOsYM Sign up for The Compound news...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Bill Mann, Chief Investment Strategist at Motley Fool Asset Management to discuss: buy & hold investing, owning 10-bagger stocks, the Motley Fool 100, managing investor behavior and much more. Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant In...
On episode 422 of Animal Spirits, Michael Batnick and Ben Carlson discuss: why stock market returns can't be 15% per year forever, putting the Mag 7 into context, small caps are cheap, retail runs the show now, Opendoor is the new meme stock, investing is easy, owning 50% of a single stock in your Roth IRA, explaining Bitcoin, the Midwest real estate boom, losing your iPhone and more! This episode is sponsored by Vanguard and YCharts Learn more about Vangu...
Dave LaValle of Grayscale Investments discusses the long and challenging journey to get a Bitcoin ETF approved, including Grayscale's pivotal lawsuit against the SEC. He highlights the surprising success and rapid adoption of Bitcoin ETFs, particularly by retail investors, and outlines the significant untapped potential as wealth managers and institutions begin to integrate these products. The conversation also explores the evolving perception of Bitcoin as a legitimate asset class and the strategic importance of ETFs for broader investor access and portfolio management.
On episode 421 of Animal Spirits, Michael Batnick and Ben Carlson discuss a nervous stock market rally, U.S. corporate exceptionalism, how the stock market bottoms, the worst decade ever for bonds, rich people who don't feel rich, Apple vs. Meta, Bitcoin's market cap, the upper middle class is getting too crowded, private equity vs. youth sports and more. This episode is sponsored by YCharts and Flat Rock Global . Get 20% off your initial YCharts Professional ...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Garrett Paolella, Co-Founder and Managing Partner of NEOS Investments to discuss losing upside to cover downside, surviving bull markets, volatility across indices, fitting these strategies within a portfolio, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The...
On this special episode of Animal Spirits at the Morningstar Investment Conference in Chicago, Michael Batnick and Ben Carlson discuss best practices on starting a career in the modern world of finance, their own backgrounds on how they arrived at Ritholtz, how to navigate the current state of the industry, the importance of developing your niche, what jobs will (and won't) survive AI, and more! Sign up for The Compound newsletter and never miss out: thecompo...
On episode 420 of Animal Spirits, Michael Batnick and Ben Carlson discuss faster recoveries in the stock market, the potential for an even longer bull market, pros and cons of deregulation, zooming out on the dollar, why taxes never rise, a weak jobs market for college grads, life in 1776, making $250k a year and still not feeling rich, the worst housing market in America, $1,000 car payments and more. This episode is sponsored by Cache Financials and Fabric by Ge...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Matt Kaufman, Senior Vice President and Head of ETFs at Calamos to discuss the Calamos Autocallable Income ETF (CAIE), a first-of-its-kind fund bringing institutional-style structured notes to the ETF world. They explore what makes CAIE structurally unique compared to traditional autocallable notes, including how its laddered structure offers investors a differ...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Leif Abraham, Co-Founder and Co-CEO of Public to discuss updates in fintech, the brokerage industry, and an evolving investor landscape. Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews...
On episode 419 of Animal Spirits, Michael Batnick and Ben Carlson discuss recession hypotheticals, all-time highs in the stock market, the death of the permabear, international outperformance, a crashing dollar, the automatic investing revolution, yield magicians, fast food price inflation, AI vs financial advisors, the potential for a housing market correction and more! This episode is sponsored by Vanguard. Learn more at: https://vgi.vg/3GbOsYM Sign up for The Compo...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Scott Litman, Portfolio Manager at GCM Grosvenor to discuss types of infrastructure investments, revenue drivers within infrastructure, the risk/return profile for infrastructure investments, thoughts around liquidity, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irre...
Michael and Ben discuss why investors seem to ignore scary headlines, analyzing the historical relationship between markets and war. They explore the slowdown in the labor market, including white-collar cuts and the potential, sometimes unexpected, impacts of AI on jobs. The conversation also covers the rising costs of car ownership, the potential future of stablecoins and financial systems, trends in housing retention among boomers, and the relentless push into private markets and alternative investments.
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Sean O'Hara, Director at Pacer Financial and President at Pacer ETFs to discuss why free cash flow is important, how the index is constructed, how momentum works, valuations within growth stocks, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel f...
On episode 417 of Animal Spirits, Michael Batnick and Ben Carlson discuss valuations not mattering, volatility is the new normal, all-time highs in rich people, bubble behavior in AI, gambling is off and running, limit orders on crypto trades, the housing market is not fair, the downside of illiquidity, Michael's email pet peeves and more. This episode is sponsored by Nuveen and Fabric by Gerber Life . Invest like the future is watching. Visit https://www.nuveen.com/futur...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Steve Hlavin, Portfolio Manager at Nuveen to discuss the muni market structure, the best states for muni bonds, risks around deficits and liquidity, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecom...
On episode 416 of Animal Spirits, Michael Batnick and Ben Carlson discuss the stock market bet of the century, the most interesting market environment ever, positive trends in retirement saving, Europe is outperforming, downturns might be different now, the Fed should cut rates, how to invest in AI, crypto is Tradfi now, private market scrutiny, the most 1990s movie ever and much more! This episode is sponsored by T. Rowe Price. Learn more at: https://www.troweprice.com/expl...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Todd Mathias, Head of U.S. Product Strategy & Development at Franklin Templeton to discuss US outperformance vs international, currency headwinds, macro uncertainty in the US, the value factor overseas, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free t...
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson speak with Daniel Crosby about his book, The Soul of Wealth . Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in...
On episode 415 of Animal Spirits, Michael Batnick and Ben Carlson discuss why technical analysis matters in a downturn, why stockpicking is so hard, do we need a recession, Jamie Dimon is worried about government bonds, how many millionaires there are, AI deflation vs. government spending inflation, when to worry about government debt, the bull market is self-driving cars, it's finally a buyer's market for housing and much more. This episode is sponsored by YCharts. Get 20% o...
Michael Batnick and Ben Carlson talk with JP Morgan's Scott Blasdell and Don San Jose about the evolving definition of value investing. They highlight how modern value portfolios prioritize quality over just cheapness to avoid "value traps," utilizing a long-term outlook to model earnings. The discussion also covers the impact of interest rates and policy changes on value stocks, and identifies current opportunities in healthcare and financials.
