Animal Spirits Podcast

By Michael Batnick and Ben Carlson

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Subscribers: 814
Reviews: 3


 Mar 27, 2021

Prashant
 Jan 2, 2021
I find myself often disagreeing completely with elements of the show (especially Ben's recs in movies :)), but I keep coming back to this well. Really enjoyable, light hearted podcast with great advice for beginners or folks with significant experience in the financial markets!


 Oct 10, 2018

Description

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/

Episode Date
It Wasn't Transitory (EP.227)
49:23

On this week's show we discuss the new bitcoin ETF, higher than expected inflation, a positive spin on the supply chain issues, a record number of people quitting their job, the boom in consumer spending and more.

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Oct 20, 2021
Talk Your Book: Finding Growth Stocks Around the Globe
25:28

On today's Talk Your Book we spoke with Rob Forker of Polen Capital about investing in international small cap growth companies.

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Oct 18, 2021
The 24/7 Stock Market (EP.226)
46:22

On today's show we talk about supply chain issues, why millennials don't drive minivans, what constitutes being rich, net worth by age, my favorite Tom Hanks movie, the difference between housing affordability and the right time to buy a house and much more.

 

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Oct 13, 2021
Talk Your Book: Investing in Real Estate Alongside Harvard
32:25

On today's Talk Your Book we spoke with Cadre CEO Ryan Williams about investing in commercial real estate.

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Oct 11, 2021
Unaffordable Housing (EP.225)
56:17

On this week's show we discuss supply chain problems, buying Christmas presents early, why progress requires inflation, investors have been spoiled, housing affordability in the United States, Zillow's problems buying houses, Squid Game and much more.

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Oct 06, 2021
Listener Mailbag
39:55

On today's show we answer listener questions about inflation, commodities, refinancing, investing in gold, how to network when finding a job and much more.

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Oct 04, 2021
Richer Than Ever (EP.224)
51:45

On today's show we discuss Rich Dad Poor Dad, why bailouts are here to stay, Cathy Wood really likes treasuries, sports gambling hits the mainstream, options are enormous, how much it costs for a down payment and much more.

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Sep 29, 2021
Talk Your Book: Accelerating Your Returns
29:05

On today's Talk Your Book we spoke once again with Bruce Bond of Innovator ETFs about defined outcome investing.

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Sep 27, 2021
Probably Not The Next Lehman (EP.223)
48:23

On this week's show we discuss the newest market crisis du jour, what's holding down bond yields, the crypto narrative that doesn't hold water, America's day care system is broken and much more.

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Sep 22, 2021
Talk Your Book: The Fabric of Risk
33:49

On today's Talk Your Book we spoke with Rick Bookstaber of Fabric Risk about how advisors and their clients should approach the concept of risk in their financial plans.

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Sep 20, 2021
The Crypto Gateway Drug (EP.222)
52:20

On today's show we discuss the problem with historical analogs in finance, the biggest stocks in the stock market, why financial manias persist, why stablecoins earn such high rates of interest, the education gap between men and women, why U.S. home prices aren't as crazy as you think and much more.

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Sep 15, 2021
Talk Your Book: An Alternative to Low Bond Yields
35:36

On today's Talk Your Book, we spoke with David Lau of DPL Financial Partners about all things annuities and how they can help advisors in a low interest rate world.

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Sep 13, 2021
Interest Rates Are Never Going Up Again (EP.221)
49:41

On today's show we discuss the early days of this podcast, Ray Dalio's performance issues, how wealth and demographics are impacting interest rates, why bitcoin matters, Ben's week with Covid and more.

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Sep 08, 2021
Talk Your Book: Insourced CIO
33:58

On today's Talk Your Book we spoke with Helios CEO Chris Shuba about estate planning and investment services for financial advisors.

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Sep 06, 2021
The Big Long (EP.220)
44:54

On today's show we discuss a Covid outbreak for Ben, the shifting risk appetite for young people, getting rich overnight has never been easier, why money supply is not inflation, the labor shortage hitting close to home and more.

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Sep 01, 2021
Listener Mailbag
45:48

On today's episode, the guys are back with another episode of listener questions.

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Aug 30, 2021
How to Crush a Job Interview (EP.219)
45:04

On today's show we discuss the pros and cons of the CFA, tales of Michael's old job interviews, seeing both sides of the NFT boom, why moving money in crypto is still so complex, people working two jobs remotely, why we're taking money out of our homes and more.

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Aug 25, 2021
Talk Your Book: Bring Your Own Deal
30:44
On today's Talk Your Book we spoke with Rocket Dollar CEO Henry about self-directed IRAs.
 
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Aug 23, 2021
Ben Turns 40 (EP.218)
49:51

On this week's show we discuss direct-listed IPO performance, the scorching hot NFT market, Ben's milestone birthday, transitory inflation signals, shortages in the economy, the relativity of rich and much more.

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Aug 18, 2021
Talk Your Book: Diamonds Hand with Zac Prince
41:03

On today's Talk Your Book we spoke with BlockFi CEO Zac Prince about all things crypto.

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Aug 16, 2021
Did Bitcoin Kill Gold? (EP.217)
48:50

On today's show we discuss investors behaving better, meme stock pushback, what is wrong with gold, why crypto isn't crashing despite more regulation, canceling student loan interest, Michael's trip to the casino and more.

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Aug 11, 2021
Talk Your Book: Investing in Dual Impact ETFs
24:13

On today's Talk Your Book we spoke with Wendy Wong of New York Life Investments about investing to fight heart disease.

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Aug 09, 2021
Emergency Pod: We Were Both Wrong About Robinhood
14:13
On Wednesday, we held a Twitter Spaces to discuss the Robinhood IPO and the fact that Ben sold his shares last week.
 
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Aug 05, 2021
The Best Way to Get a Raise (EP.216)
50:25

On today's show we discuss Ben's recent trip to NYC, how the psychology around money can shape your relationships, the 1987 of recessions, the Robinhood IPO, changing how we think about debt, how much money it takes to feel financially secure and more.

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Aug 04, 2021
Talk Your Book: Investing in Wine
31:00

On today's Talk Your Book we spoke with Vinovest CEO Anthony Zhang about investing in wine and whiskey.

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Aug 02, 2021
We Love to Spend Money (EP.215)
42:33

On this week's show we discuss the insane run in stocks over the last 12 years, what's moving crypto prices lately, when to take profits from a big winner, the shortest recession ever, housing price appreciation slowing down, the Netflix of homebuilding, Robinhood vs. Coinbase and much more.

 

Jul 28, 2021
Talk Your Book: The Netflix of Homebuilders
29:42
On today's Talk Your Book we had Fundrise CEO Ben Miller back on to discuss the real estate market on everything from building vs. buying, commercial real estate, single-family rentals and more.
 
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Jul 26, 2021
Prices Only Go Up (EP.214)
47:02

On this week's show we discuss the difference between a trip and a vacation, what it means to be rich, the inflation conundrum, why it's easier to raise prices than lower them, why Roth IRAs won't get taxed again, the best show no one talks about and much more.

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Jul 21, 2021
Talk Your Book: Invest by Avoiding the Losers
32:49
On today's Talk Your Book, we spoke with Julian Koski of New Age Alpha about setting baselines and probabilities on current stock prices to help avoid the losers in the future.
 
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Jul 19, 2021
High School Reunion (EP.213)
51:57

On today's episode we discuss the Roaring 20s, why things are better than you think, the coming baby bust, the end of cash, who's driving up home prices, the end of the movie business, Ben's high school reunion and more.

Today’s show is brought to you by Masterworks, allowing you to invest a portion of your portfolio in fine art.  Learn more at masterworks.io. Promo Code: coupdegras

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Jul 14, 2021
Talk Your Book: Quality Growth
31:10

On today's show the guys talk with Eric Schoenstein, CIO at Jensen Investment Management about how to find quality growth companies trading at a reasonable price. Find complete shownotes on our blogs...
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Jul 12, 2021
$35 Trillion Giveaway (EP.212)
50:32
On today's show we discuss unplugging from social media for the weekend, the big move in stocks from the bottom of the bear market, why this time is different, the great migration from CA to Austin, Robinhood's S-1, the coming inheritance wave, some thoughts on The Tomorrow War and much more.
 
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Jul 07, 2021
Talk Your Book: High-Yield Real Estate
33:28

On today's show, the guys talk with Brian Dally from Groundfloor about the opportunity to invest in high-yield real estate. 

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Jul 05, 2021
The Wealthiest Generation (EP.211)
39:16

On this week's show we discuss money piling into crypto, bubble experts, flows over pros, young people waiting to settle down, the housing market conundrum, households are richer than ever, FOMO lessons from The Great Outdoors and more.

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Jun 30, 2021
Talk Your Book: Anti-Carry
31:29
On today's show, the guys talk with Paul Kim of Simplify on how to sell vol and not get run over by the proverbial steamroller. 
 
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Jun 25, 2021
Lifestyle Creep (EP.210)
48:33

On today's show we discuss inflation, why bond yields are falling, getting wrecked in DeFi, fintech's customer service problem, taking a family loan to buy a house, managing the economic boom and much more.

 

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Jun 23, 2021
Talk Your Book: Investing in Volatility
34:59

On today's show the guys speak with James McDonald, CEO of Hercules Investments about option trading strategies.

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Jun 18, 2021
Fed Apologists (EP.209)
50:12
On this week's show we discuss the most underrate innovation of all-time, why the economy is more interesting than the markets, the wild housing market, why more young people may prefer to rent going forward, where have all the movie stars gone and more.
 
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Jun 16, 2021
Talk Your Book: The State of the Housing Market
37:36
On today's show the guys talk with Logan Mohtashami, lead analyst at Housing Wire. 
 
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Jun 11, 2021
Permanent Stimulus (EP.208)
48:24
On this week's show we discuss why crypto is sucking the air out of the room for investor attention, the future of bear markets, the insane cost of building a new home, meme stocks, the impact of stimulus checks, how to spend your money wisely and more.
 
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Jun 09, 2021
Talk Your Book: The Commodity Supercycle
32:43
On today's Talk Your Book we spoke with Direxion's Ed Egilinsky about the potential for a commodities supercycle and why it makes sense to be tactical when it comes to commodities exposure.
 
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Jun 04, 2021
And Then I Got Scammed (EP.207)
50:41
 
 
Description: On this week's show we discuss the king of SPACs, how the internet broke people's brains, Guy Fieri, the promise of crypto, the history of money market funds, how the rent vs. buy dynamic has changed in a hot housing market, Mare of Easttown and more.
Jun 02, 2021
Listener Mailbag (EP.206)
43:26
On today's show we answer listener questions on real estate, asset allocation, where to save retirement money, dealing with big gains in individual stocks and much more.
 
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May 28, 2021
The Worst Time To Buy a Home (EP.205)
47:51
On today's show we discuss Tesla vs. Ford, the Robinhood effect, why 24/7 markets make volatility worse, trying to explain what DeFi is, the Frankenstein economy, why this is the worst time ever to be a home buyer, the greatest of Joe Pesci and more.
 
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May 26, 2021
Talk Your Book: The Case for Investing in Farmland
29:50
On today's show, the guys talk to Carter Malloy of Acre Trader about the investment opportunities in farmland. 

 

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May 21, 2021
A Shortage of Everything (EP.204)
54:20
On today's show we discuss Elon Musk's crypto tweets, why bitcoin is falling, some context behind the inflation numbers, the weirdest economy ever, why used car prices spiked, what happened to comedies and much more.
 
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May 19, 2021
Growth at a Reasonable Price
43:10
On today's show, the guys talk with Clay Gardner of Titan, an actively managed investment solution that is trying to disrupt mutual funds. 
 
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May 14, 2021
Bubbles Are Forever (EP.203)
48:39

On this week's show we discuss the huge miss in the job's report, why stock market valuations are so hard to use today, why we need to build more houses, the insane spike in lumber prices, the downfall of growth stocks, the most intimidating movie characters of all-time and more.

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May 12, 2021
Talk Your Book: Is Art Recession-Proof?
31:19

On today's show, we talk with Scott Lynn about one of the best performing asset classes during the pandemic.

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May 07, 2021
We Should Be in a Bubble (EP.202)
47:22

On this week's show we discuss the roommate theory, Bill Murray, the massive scale of the 5 big tech stocks, rational vs. irrational bubbles, pros and cons of Robinhood, crypto going off and much more.

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May 05, 2021
Talk Your Book: The Sports Memorabilia Boom
38:58
On today's show Michael and Ben speak with Ezra Levine of Collectable to discuss what's driving the red hot sports memorabilia market. 
 
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Apr 30, 2021
The YOLO Economy (EP.201)
43:54

On this week's show we discuss the crypto crash, setting return expectations, make life changes because of the pandemic, cynical thinking because of the internet, taxes vs. the stock market and more.

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Apr 28, 2021
Talk Your Book: Why the Real Estate Bull is Just Getting Started
30:37
On today's show we speak with Ben Miller of Fundrise about why the future of single family housing is about to change in a big way. 
 
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Apr 23, 2021
The Dumbest Week Ever (EP.200)
44:15
On this week's show we talk about dogecoin, the crypto crash, money-losing companies, buyers of second homes, why 2008 broke so many brains, a shortage of homeowners, a new idea for Airbnb and more.
 
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Apr 21, 2021
Talk Your Book: Crypto Update with Zac Prince
49:48
On today's Talk Your book we catch up with BlockFi's Zac Prince on the Coinbase IPO, running a growth company, a downside to Ethereum, institutional adoption to crypto and more.
 
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Apr 16, 2021
A Shortage of Workers (EP.199)
43:40
On today's show we discuss housing bubble talk, huge fund inflows into stocks, gains for the bottom 50%, shortages, inflation and investing in collectibles.
 
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Apr 14, 2021
Listener Mailbag
43:25

On today's Animal Spirits, Michael and Ben answer listener questions. Everything from personal finance to real estate to investments, and everything in-between. Keep the emails coming!

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Apr 09, 2021
Housing Bubble 2.0?
51:15
On today's show we discuss the rise in Gen Z traders, how retail investors are impacting the market, the 4 types of Robinhood traders, the dependability of market cycles, going from being a saver to being a spender and more.
 
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Apr 07, 2021
Talk Your Book: The Psychology of Investing in Bitcoin
34:59
On today's Talk Your Book we spoke with Phil Pearlman of Osprey Funds about cryptocurrencies.
 
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Apr 02, 2021
The Active Management Resurgence (EP.197)
52:01

On today's show we discuss the most bullish thing about the stock market right now, the catalyst for value beating growth, when the smart money is really dumb, the relationship between inflation and wealth inequality, the best time ever to found a start-up and more.

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Mar 31, 2021
Talk Your Book: Investing in the Gig Economy
30:39

On today's Talk Your Book we speak with David
Dziekanski, portfolio manager for the SoFi Gig Economy
ETF.

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Mar 26, 2021
An Affordability Crisis (EP.196)
55:00

On today's show we discuss rising real estate prices, how the work from home trend could impact housing, working at Goldman Sachs, the income required to be considered rich, benchmarking your retirement savings to your peers and more.

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Mar 24, 2021
Talk Your Book: The Case for Emerging Markets
37:37
On today's Talk Your Book we spoke with Nick Niziolek from Calamos Investments about the potential for emerging markets in the coming years.
 
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Mar 19, 2021
Super Bullish (EP.195)
48:46
On this week's show we talk about taking cash out of your house, the coming economic boom, why the Fed isn't printing as much money as you think, Beeple's $69 million NFT, why commodities aren't setting up for a supercycle, and more.
 
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Mar 17, 2021
Talk Your Book: Investing in Freedom
25:29

On today's show we speak with Perth Tolle of Life + Liberty Indexes about freedom as an investment factor. 

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Mar 12, 2021
The Recession is Over (EP.194)
47:46
On this week's show we discuss the wreckage in growth stocks, the outperformance of value, what the massive fiscal stimulus plan means for the economy, the inflation worry, the enemy of ARK, comedy sequels and more.
 
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Mar 10, 2021
Talk Your Book: The Most Ambitious ETFs
32:48
On today's Talk Your Book we chat with Simplify Asset Management CEO Paul Kim about creating ETFs that are concentrated, enhance the upside and protect the downside.
 
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Mar 05, 2021
Never Bet Against America (EP.193)
48:11
On this week's show we discuss the recent rise in interest rates, how much rates really matter to the markets, the latest Buffett shareholder letter, when value stocks turn into momentum stocks, bubble debates and more.
 
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Mar 03, 2021
Talk Your Book: Investing in Moonshots
28:22
On today's Talk Your Book, we spoke with Direxion's Dave Mazza about the Direxion Moonshot ETF and how to invest in the most innovative companies.
 
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Feb 26, 2021
The Beanie Baby Bubble (EP.192)
47:47

On today's show we discuss the collectibles boom, similarities and differences to the Beanie Baby boom of the late-1990s, NBA Top Shot, ISAs for pro athletes and more.

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Feb 24, 2021
Listener Mailbag
40:33
On this episode, we cleaned out our inbox to answer questions from listeners about retirement, personal finance, investing, markets, careers, and more.
 
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Feb 19, 2021
Bidding Wars (EP.191)
40:39
On today's show, we discuss food delivery as a viable business, SPACs vs IPOs, the new benchmark for tech companies, the red hot real estate market, Bryan Cranston vs Tom Hanks, and more.
 
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Feb 17, 2021
Talk Your Book: The Madness of crowds
30:14
On today's show, the guys talk to Daniel Crosby, PhD, the Chief Behavioral Officer of Orion Advisor Solutions about some of the craziest few weeks in stock market history. 
 
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Feb 12, 2021
Money Tree (EP.190)
51:25
On this week's episode we discuss Elon Musk becoming the new Warren Buffett, companies putting bitcoin on their balance sheet, the Mount Rushmore of CEOs, NFTs and trading cards, tapping your home equity and more.
 
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Feb 10, 2021
Talk Your Book: Commission-Free Insurance
36:15
On today's show, the guys talk with David Lau from DPL Financial Partners about how they're improving the insurance sales for advisors and their clients. 
 
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Feb 05, 2021
The Big Squeeze (EP.189)
57:38
On this week's show we talk about all things GameStop, Robinhood, short-sellers, when markets become a pop culture phenomenon, why people are so angry with Wall Street and much more.
 
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Feb 03, 2021
TYB: Crypto as an Emerging Store of Value 
34:15
On today's show, the guys speak with Zac Prince of BlockFi about all the hottest topics in the world of Bitcoin. 
 
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Jan 29, 2021
It's Very Different This Time (EP.188)
50:43

On today's show we talk about the wild moves in Gamestop, why this is now a young person's market, why the SEC is probably going to come calling for some YOLO investors, why this is and is not like 1999, how hedge funds got beat by retail traders and much more.

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Jan 27, 2021
Talk Your Book: Investing in Fixed Income
40:49
On today's show, Michael and Ben talk with Gibson Smith of Smith Capital Investors about how the structure of the fixed income market has evolved over time, what happened to bond funds and ETFs in March? The potential problems with plain-vanilla bond indexes, and much more
 
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Jan 22, 2021
Micro Bubbles (EP.187)
46:48
On today's show we discuss why index funds will never cause a bubble, how day traders are evolving, the best-performing stocks of 2020, penny stock madness and why 2021 could see the economy shoot the lights out.
 
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Jan 20, 2021
Talk Your Book: Investing in Real Estate With Fundrise
26:24
On today's Talk Your Book, we spoke with Ben Miller, co-founder and CEO of Fundrise about investing in direct real estate.
 
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Jan 15, 2021
Tesla is the Next Tesla (EP.186)
45:04
On this week's show we discuss the outsized role tech companies play in our democracy, why aggression is highly contagious, why the stock market is creating bubbles, the battle between fiscal and monetary policy, bitcoin whales and much more.
 
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Jan 13, 2021
Should I Use a Roth or a Traditional IRA?
17:05
On today's show, we talk with Bill Sweet about the different options investors should consider when thinking about what type of vehicle they should use for their retirement money. 
 
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Jan 11, 2021
Talk Your Book: 2021 Outlook
30:17
On today's Talk Your Book, we speak with Matthew Bartolini about options for diversified investors going forward, how to think about volatility in fixed income investments, cyclical stocks in 2021, the different types of income investments and more.
 
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Jan 08, 2021
Inflation Truthers (EP.185)
40:45
On this week's show we discuss why inflation isn't being understated, why the economy is so difficult to understand, why growth is outperforming value, the case for higher returns even with valuations so high, why Bitcoin is a religion, how incomes rose during the pandemic and much more.
 
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Jan 06, 2021
The Best of 2020
34:13
On today's last show of the year, we look back at the biggest stories from 2020 as well as our favorite books, movies and TV shows.
 
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Jan 01, 2021
Everyone Knows Everything (EP.184)
38:37
On this week's show we discuss the luck of the draw in the economy this year, our new fantasy trading game, pockets of froth in the markets, Tesla speculators, ARK inflows, why Roths are overrated and much more.
 
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Dec 30, 2020
Talk Your Book: Momentum Investing With Joe Terranova
33:15
On today's show, Michael and Ben talk with Joe Terranova of Investment Partners about the lessons from 2020, and the launch of his new investment ETF. 
 
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Dec 25, 2020
Never Stop Buying Lottery Tickets (EP.183)
43:15
On this week's show we discuss the new stimulus bill, why the stock market isn't always this easy, Tesla investors who made a boatload of money, Robinhood lawsuits, the potential for a Roaring 2020s and more.
 
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Dec 23, 2020
How to Start Your Financial Life (EP.182)
35:07
On today's show we discuss financial topics for young people including how much you should spend on an engagement ring, how to talk about money with your significant other, how much a wedding costs, managing money when you're married, starting to save for retirement, buying your first house and more.
 
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Dec 18, 2020
IPO Mania (EP.181)
42:55

On this week's show we discuss the Airbnb and DoorDash IPOs, similarities and differences between now and the 1990s dot-com boom, why IPOs rise so much on the first day of trading, YOLO structured notes, why the vaccine is our moon landing and more.

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Dec 16, 2020
Talk Your Book: ESG Investing
28:42
On today's show, Michael and Ben talk with Brie Williams of State Street Global Advisors about the momentum behind ESG investing. 
 
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Dec 11, 2020
How America Invests (EP.180)
51:41

On today's show we discuss AT&T vs. Verizon, why we could see the highest CAPE ratio ever, the end of movie theaters, why selling is the hardest part of investing, when we'll get the vaccine, the best movies you haven't seen and much more.

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Dec 09, 2020
Blog Post: How Ben Invests His Money
07:25

Inspired by the new book, How I Invest My Money, Ben shares how he manages his own money.

Dec 07, 2020
Book Excerpt: The 20 Rules of Personal Finance
08:24

Ben reads a chapter from his new book, Everything You Need to Know About Saving For Retirement.

Dec 05, 2020
Talk Your Book: The Structured Marketplace
37:02

On today's show we talked with Jason Barsema, co-founder and CEO of Halo Investing, an online marketplace for structured products, annuities, and buffered ETFs.

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Dec 04, 2020
Raising the Minimum Wage (EP.179)
43:05

On this wee's show we discuss bitcoin vs. gold, billionaires and the minimum wage, there is no perfect number for your savings goals, the downside of FIRE, why credit card debt it falling, the pros and cons of Robinhood on investor habits, Ben's new book about saving for retirement and more.

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Dec 02, 2020
Blog Post: Is Robinhood Good For Investors?
04:35

A few weeks ago on a Zoom conference call, Michael was asked "Is Robinhood good for investors?"

In this episode, Michael shares how this question caused him to think more deeply about his answer. 

Nov 30, 2020
Talk Your Book: Investing in Bitcoin
48:43

On today's Talk Your Book we chat with BlockFi CEO Zac Prince about all things Bitcoin and cryptocurrencies.

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Nov 27, 2020
Is Bitcoin the New Gold (EP.178)
47:11

On this week's show we talk about the bitcoin bull market, the generational wealth gap, who owes all the student loan debt, why poor people still buy luxury goods, investing in TikTok mansions, young people entering the housing market and more.

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Nov 25, 2020
Talk Your Book: Direct Indexing
27:01

On today's show, Michael and Ben talk with Rusty Vanneman, Chief Investment Officer at Orion Advisor Solutions about all things related to direct indexing.

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Nov 20, 2020
Cancel All the Debt (EP.177)
45:23

On this week's show we discuss vaccine Mondays, why the market doesn't care about increasing cases, what's the best age to die, making emergency funds obsolete, too much cash on the sidelines and more.

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Nov 18, 2020
Blog Post: How Much is $20 a Month Worth?
03:36

Ben looks at one of the hardest problems for most people when it comes to building wealth -- regularly saving money and shows why $20/month could be worth more than you think.

And he has an announcement for his all new book about saving for retirement.

Nov 16, 2020
BLOG POST: How I Invest My Money
06:07

Ben and I are trying something new.

Once or twice a week we're going to read a blog post and drop it in Animal Spirits. If you like it, we'll keep going, if not, we'll stop.

The first post from Michael was inspired by Josh Brown and Brian Portnoy's new book "How I Invest My Money"

Nov 14, 2020
Talk Your Book: But What Happens Tomorrow?
28:45

On today's show we talk with Michael Arone, Chief Investment Strategist at State Street Global advisors about how elections impact the market, and why we might be on an unsustainable path going forward.

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Nov 13, 2020
The Vaccine (EP.176)
36:40

On this week's show we discuss what a vaccine would mean for the markets and economy, why a post-pandemic market will be so difficult to handicap, the potential for a massive boom post-vaccine, market moves after the election, corporate America as our strongest institution, why this year has been so challenging for investors and more.

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Nov 11, 2020
Talk Your Book: Farmland for the Modern Investor
29:52

On today's Talk Your Book we speak with Artem Milinchuk, CEO & Founder of FarmTogether about how he brought investing in farmland to the 21st century investor.

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Nov 06, 2020
Trading the Election (EP.175)
49:44

On this week's show we discuss how to think about your portfolio in relation to the presidential election, how markets tend to react during the post-election period, is it finally time for value to outperform growth, the resistance of the U.S. economy, the best new show of 2020 and much more.

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Nov 04, 2020
Talk Your Book: Stacker ETFs
32:04

On today's Talk Your Book we welcomed back Bruce Bond from Innovator Capital Management to talk about the new Stacker ETFs.

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Oct 30, 2020
The Worst Chart in Finance (EP.174)
45:44

On this week's show we discuss why the price of oil is losing its luster as a macro indicator, who owns the stock market, the rise of new investment classes, Robinhood as the financial hub for millennials, why people aren't happier and more.

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Oct 28, 2020
Talk Your Book: Is the Fed too entrenched?
26:41

On today's Talk Your Book, Michael and Ben speak with Marvin Loh of State Street Global Markets about all things related to interest rates, the federal reserve, and inflation.

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Oct 23, 2020
Bad Ideas (EP.173)
48:45

On this week's show we discuss why baby boomers are selling out of stocks, the 4% rule, the newest star fund manager, why FICO scores are rising this year, companies piling on debt, how social media is making people miserable, some optimism on the pandemic front and much more.

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Oct 21, 2020
Talk Your Book: What's In an Index?
28:28
On this edition of Talk Your Book we spoke with Laurence Black, founder of The Index Standard about how to pick the right products, ETFs and indices for your portfolio.
 
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Oct 16, 2020
Bearish the Whole Way Up (EP.172)
43:25

On this week's show we discuss why it's impossible to invest based on the outcome of the election, how the market's reaction evolves over time, the coming travel spending boom, how healthcare costs have hurt incomes, baby bonds and more.

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Oct 14, 2020
Talk Your Book: Protecting the Tails
28:35
On this edition of Talk Your Book we sat down with Simplify Asset Management's Paul Kim to discuss how investors can protect their portfolios from both upside and downside volatility in the stock market.
 
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Oct 09, 2020
Living Through History (EP.171)
43:18

On this week's show we discuss how crazy it is to live through a period of time that will go down in the history books, why this recession has been devastating to working women, the next Robinhood, the IPO boom, dividend stocks as a bond substitute and more.

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Oct 07, 2020
A Random Talk with Burton Malkiel
32:31
On today's show we sat down with Burton Malkiel, author of the classic book A Random Walk Down Wall Street.
 
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Oct 02, 2020
Worst Recession Ever (EP.170)
42:21

On this week's show we discuss some bright spots from the pandemic, the massive real estate boom, the housing shortage, more diversity in the stock market, when asset allocation doesn't matter, the SPAC boom and more.

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Sep 30, 2020
Talk Your Book: Investing in Gold
36:29

On today's show we spoke with George Milling-Stanley, Chief Gold Strategist at SSGA about all things related to investing in Gold.

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Sep 25, 2020
It's Hard Being Rich (EP.169)
47:37

On this week's show we discuss a minor correction in the stock market, why the upper middle class has so much debt, why fame and wealth don't always lead to more happiness, how baby boomers are messing up fund flow data, keeping politics out of your portfolio, the next big bull markets and more.

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Sep 23, 2020
Everything You Need to Know About Retirement (EP.168)
33:41

On this show we do a deep dive on everything retirement-related including how much you need to save, how much is enough, what happens when you get a late jump on retirement planning and much more.

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Sep 18, 2020
Upside Down Markets (EP.167)
43:58

On this week's show we discuss some work from home backlash, parents vs. single people in the office, where inflation comes from, the new fiscal policy regime, why markets are so hard, experts on an earlier version of the world, the two beers and a puppy rule, the growth in sports gambling and more.

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Sep 16, 2020
Democracy Has Failed (EP.166)
41:45

On this week's show we discuss why tech stocks are finally selling off, why the best companies have to crash, stopping a depression in its tracks, the TINA market in bonds, benchmarking endowment funds, investing in timeshares, Airbnb and more.

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Sep 09, 2020
The Economics of Parenting (EP.165)
37:29

On this episode we discuss the finances of parenting from what you need to buy, how to prepare yourself financially and emotionally, the cost of daycare, saving for college, teaching your kids about money and more.

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Sep 04, 2020
Asset Price Hyperinflation (EP.164)
44:04

On this week's show we discuss modern market cap theory, the continued move higher in Tesla shares, the Fed's new inflation mandate, millennials are finally buying houses, Michael is never going into a car dealership again and more.

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Sep 02, 2020
Talk Your Book: Sectors & The Business Cycle
32:02

On today's Talk Your Book we sat down with State Street's Matt Bartolini to discuss investing in different sectors of the stock market and what these sectors can tell us about where we are in the business cycle.

 
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Aug 28, 2020
Trickle Up Economics (EP.163)
48:37

On this week's show we discuss the potential for a spending boom when the pandemic is over, what happens to all of the government debt we're racking up, what happened to the middle class in America, the red hot housing market, a tough fall ahead for students and parents and much more.

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Aug 26, 2020
How to Spend Your Money (EP.162)
34:48

On this episode, we do a deep dive on budgeting, conscious spending, classflation, the two types of budgets, how to plan for infrequent expenses, how to make your budget obsolete and much more as it pertains to one of the most important topics in all of personal finance.

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Aug 21, 2020
The Four Most Dangerous Words (EP.161)
51:25

On this week's show we discuss the speed of bear market recoveries, signs of inflation, the hardest problem in finance right now, which stocks day traders favor, what makes investing so difficult, being right for the wrong reasons, how the real estate market is changing on the fly and more.

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Aug 19, 2020
Talk Your Book: Understanding Opportunity Zones
28:41
On this edition of Talk Your Book, we discuss investing in opportunity zones with Edmon Rakipi from Opp Zone Capital.
 
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Aug 14, 2020
The Smart Money (EP.160)
46:01
On this week's show we discuss what low bond yields may be telling us, why the stock market is smarter than people give it credit for, the rise of investment newsletters, the bull market in gold, when the world will go back to normal, TikTok and Twitter, annuities vs. bonds and much more.
 
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Aug 12, 2020
The Economics of Homeownership (EP.159)
38:24

On today's show we talk about one of the most important topics in personal finance, home ownership.

Michael and Ben discuss renting versus buying, how to think about starter homes, where your house fits into your retirement plan, and much more.

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Aug 07, 2020
S&P 5 (EP.158)
52:34

On this week's show we discuss tech stock monopolies, Microsoft potentially buying TikTok, why more people are buying houses, what to do if your friends are speculating in stocks, Vanguard vs. Robinhood, the counterintuitive nature of this recession and more.

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Aug 05, 2020
Fixed Income Investing in a Low Rate World
23:03
On this edition of Talk Your Book we discuss the challenges of investing in a bond market will generationally low interest rates with Marvin Loh from State Street.
 
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Jul 31, 2020
The Golden Age of Fraud (EP.157)
47:50

On this week's show we discuss why market cycles are happening in record time, parallels to the 1990s, speculative frenzy, anecdotal stock market signals, the red hot real estate market, commercial real estate, how work from home will change in the future, gold going crazy, how much to pay for an engagement ring, and much more.

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Jul 29, 2020
Talk Your Book: Edly ISA's - Invest in Student Achievement
32:27
On this edition of Talk Your Book, we spoke with Edly co-founders Chris Ricciardi and Chuck Trafton about income service agreements, the student loan crisis and how to invest in the wages of college graduates.
 
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Jul 24, 2020
10,000 Day Traders (EP.156)
43:10
On this week's show we discuss new all-time lows in mortgage rates, why this is no normal recession, hopes and questions for a vaccine, Betterment vs. Robinhood, saving money when you earn a bonus and more.
 
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Jul 22, 2020
This is a Bubble (EP.155)
45:38

On this week's show we discuss the bubble behavior in Tesla, Elon Musk becoming richer than Warren Buffett, Robert De Niro is going broke, simple > complex, the home renovation boom, wealth inequality's impact on gambling, Hulu is better than Amazon Prime and more.

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Jul 15, 2020
The Future of Education (EP.154)
49:36

On this weeks show we discuss the two types of investing mistakes, hangovers and sunburns, when markets actually make sense, migration out of big cities, Tesla's unbelievable run, a world with no yield, the joys of indexing, options for college kids in the fall and much more.

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Jul 08, 2020
Existential Hurricane (EP.153)
48:39

On this week's show we discuss growing worries about the economy, a double-dip depression, why the Fed may have to backstop the banks, shorting commercial real estate, the dominance of the biggest tech stocks, lower interest rates for a long time, what about Japan, inflationary scars and much more.

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Jul 01, 2020
Inflation Ahead (EP.152)
42:42

On this week's show we discuss Jeremy Siegel's inflationary scenario for the market, why it's time to stop complaining about the Fed, why poverty in the US actually improved during this crisis, is this another bubble, the garbage portfolio, why this is such a difficult time to invest as a retiree and much more.

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Jun 24, 2020
Talk Your Book: Advisor Solutions with Helios
24:38

On today's show we talk with Chris Shuba, founder and CEO of Helios Quantitative Research. Helios partners with financial advisors to create a unique and compelling asset management experience for their clients.

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Jun 19, 2020
The Opposite of a Falling Knife (EP.151)
40:35

On this week's show we discuss who is driving market prices right now, Robinhood's PR dream, the Hertz bankruptcy story, Dave Portnoy's day-trading escapades, why active managers should be salivating right now, how private equity could turn out like index funds, why bad news resonates more than good news, is the banking industry heading for a collapse and more.

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Jun 17, 2020
Talk Your Book: Invest in Private Real Estate With FundRise.
31:44

On today's show we talk with Ben Miller, co-founder and CEO of FundRise, about how individuals can access the private real estate market.

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Jun 12, 2020
Stock Market Euphoria (EP.150)
43:21

On this week's show we discuss the insane move in the stock market from the lows, the surprising unemployment numbers, underestimating the Fed, going from the Great Depression to euphoria in a matter of months, why international stocks are finally joining the fun, private equity in 401k plans, racial wealth inequality, Airbnb's comeback and more.

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Jun 10, 2020
Talk Your Book: How to Make Better Financial Decisions with Daniel Crosby
28:25

On this Talk Your Book we chat with Daniel Crosby about behavioral psychology, why we're not wired to manage money, how to improve your financial decisions and how systems and automation can help.

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Jun 05, 2020
The Unluckiest Generation (EP.149)
41:50

On this week's show we discuss the saddest week in a long time, post-traumatic growth, 2020 vs. 1968, why working from home is a privilege, inequality in America, the explosion in the airline ETF, Carl Icahn's big losses in Hertz, teaching your children about investing and much more.

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Jun 03, 2020
Valuations Don't Matter (EP.148)
51:31

We discuss why Zoom is worth more than the 5 biggest U.S. airlines, how many of the pandemic stocks are here for good, Spotify taking over the podcast game, Amazon possibly buying JC Penney, winners and losers from the WFH trend, the summer bull case for Airbnb, why alternative ETFs haven't worked, what happens to the conference industry and much more.

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May 27, 2020
Talk Your Book: Investing in Corporate Real Estate
29:51

On today's show we talk about all things related to corporate real estate in the United States. How has it been affected by COVID-19, what does the future look like, and what does it all mean for investors.  

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May 22, 2020
Is the Stock Market Wrong? (EP.147)
46:11

We discuss what a potential vaccine means for stock market, we could see a bubble after this, retail bankruptcies, the food delivery business, why the stock market is so confusing right now, inequality in this crisis, active fund performance during the bear market and much more.

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May 20, 2020
Too Young, Too Dumb and Too Inexperienced (EP.146)
42:13

We discuss inequality among corporations, differences in the unemployed by education, the best new restaurant in the country just went out of business, why housing prices are rising during the crisis, millennials fleeing big cities, you are not Stanley Druckenmiller and much more.

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May 15, 2020
Fallen Angels (EP.145)
46:13

We discuss why stocks aren't doing better in countries with a better virus response, why portfolio managers hate the Fed, how are the airlines going to survive, finding some gray area in the crisis data, food delivery price gouging, white-collar layoffs, working out from home, Peter Lynch crisis stocks, millennials receiving social security and more.

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May 13, 2020
Whatever It Takes Squared (EP.144)
48:25

On this week's show we discuss Warren Buffett's annual meeting, why Berkshire didn't buy anything, crisis buzzwords, the death of commodities, retailers going out of business, the rise in credit card debt, comedy Oscars and much more.

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May 06, 2020
A Noob Whale Picker's Market (EP.143)
45:57

We discuss how hard it is to outperform the market, why investors need to be more open-minded, how the crisis will impact millennial home-buying, how the Fed is redefining central banking, Occam's razor on interest rates, how inflation impacts growth and value stocks, noobwhales attracted to market turmoil and much more.

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May 01, 2020
Capitalism As We Know It (EP.142)
46:16

We discuss why credit card payments will be the first thing to go for people with financial problems, why so many people prefer real estate as an investment, colleges, and gyms are in trouble, people who will leave big cities, how a crisis can change your investment thesis on the fly and more.

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Apr 29, 2020
Physical Delivery (EP.141)
44:23

We discuss why the stock market isn't falling more, craziness in the oil market, why "normal" portfolios may be performing better during the crisis, the death of department stores, banks, bailouts and much more.

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Apr 24, 2020
Free Oil (EP.140)
40:47

We discuss fairness in the bailout process, why no one believes in this market, why it's been so difficult to outperform the market during this bear, Munger and Buffett's changing appetite for risk, why epidemiologists would make good investors and much more.

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Apr 22, 2020
The Second Wave (EP.139)
49:55

We discuss the path to normalcy, why the economy is going to be operating at partial capacity for some time, when people will begin flying again, why people are so angry with the bailouts, counterintuitive real estate trends, why colleges may be in trouble this fall and much more.

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Apr 17, 2020
Mountains of Debt (EP.138)
36:51

On this week's show we discuss the pandemic's impact on Disney, when people will be willing to go to large events in the future, private equity companies getting bailed out, anger coming from Main Street, counterintuitive markets, professional sports with no fans and much more.

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Apr 15, 2020
Talk Your Book: Investing in Art With Masterworks
31:19

On today’s show Michael and Ben sit down with Scott Lynn, founder of Masterworks, to talk about how technology has enabled investors to get access to the art market. 

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Apr 13, 2020
The Fed's Bazooka (EP.137)
45:50

We discuss the latest unemployment numbers, the massive help coming from the Fed, why markets are so confusing at the moment, a new theory on forward stock market returns and why investing is so difficult in this environment.

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Apr 10, 2020
Some Good News (EP.136)
40:26

On this week's show we discuss some good news out of NYC, can this ever be over until we have a vaccine, why this is more like a war than a financial crisis, who is getting hurt the worst from job losses, the 4 rules of pandemic economics, the massive response from the Fed, and some stuff to worry about when this is all over

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Apr 08, 2020
The Great Unwind (EP.135)
43:23

We discuss the enormous effort from the science community to find a vaccine, using history as a guide even when every bear market is different, a wild month in the stock market, the coming small business apocalypse, how many people will have trouble with mortgage/rent payments, inequality in the downturn and much more. 

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Apr 03, 2020
The Dead Cat Bounce? (EP.134)
49:34

On this week's show we discuss avoiding politics during a crisis, unintended consequences from the shutdown, the spike in national debt, why economics is so confusing, bottoms vs dead cat bounces, when to rebalance and more.

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Apr 01, 2020
The Historic Surge in Unemployment (EP.133)
41:28

On this new episode we discuss the awful unemployment numbers, the new fiscal stimulus bill, restaurants in trouble, other businesses impacted, what happens if you buy too early, the best books on market panics, timing the bottom and much more.

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Mar 27, 2020
The First Thing to Go During a Crisis (EP.132)
46:42

On this week's show we discuss hindsight bias when the crisis is over, impressive measures by other countries, turmoil in the bond markets, will we get a new generation of Depression babies, the need for fiscal stimulus and more.'

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Mar 25, 2020
Bailing Out Main Street (EP.131)
36:37

On today's episode, we discuss the number of businesses impacted by the coronavirus shutdown, the potential fiscal stimulus plan, why interest rates are rising, how to think about rebalancing into the pain, Great Depression comparisons and much more.

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Mar 20, 2020
Is this worse than 2008? (EP.130)
47:45

On this week's show we discuss working from home, the enormous impact the coronavirus is having on the economy, how people's lives are changing in a hurry, turmoil in bond ETFs, the differences between now and 2008 and much more.

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Mar 18, 2020
Talk Your Book: Positive and Negative Compounding: Trading Direxion Leveraged ETFs
29:33

On today's show we speak with Dave Mazza, head of product at Direxion about trading levered ETFs, and other products they're working on.

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Mar 16, 2020
Emergency Podcast: Preparing for a Recession
24:43

On today's emergency edition of Animal Spirits, we discuss the severe disruption being caused by the coronavirus, why it's ok to overreact but not panic, how to prepare for a recession and why personal finances are more important than portfolio management at a time like this.

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Mar 12, 2020
Oil's 1987 Moment (EP.129)
41:34

On this week's episode we talk about the carnage in the stock market, the huge drop in oil prices, going from the fear of missing out to the fear of being in, why moves in the markets feel like they're happening faster than ever, some context around the plunge, are investors overreacting, the Fed's bazooka, why bonds are scarier than stocks right now and much more.

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Mar 11, 2020
A Random Watch Down Wall Street: The Founder
27:53

On this week's business movie re-watch, we discuss The Founder, the Michael Keaton movie from 2016 about Ray Kroc and how he built McDonald's into an empire from humble beginnings.

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Mar 09, 2020
The Emergency Rate Cut (EP.128)
46:43

On this week's show we discuss the wild moves in the stock market, the emergency rate cut by the Fed, the chances the coronavirus leads to a recession, the crazy move lower in interest rates, Robinhood's issues, the industries most impacted by the pandemic and much more.

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Mar 04, 2020
Talk Your Book: Investing in Commodities
43:44

On this week's Talk Your Book Michael and Ben talk all things commodities with Yale's Geert Rouwenhorst and John Love from USCF Investments.

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Mar 02, 2020
Michael's Worst Investment Ever (EP.127)
51:45

On this week's episode, we discuss the impact of the coronavirus, ramifications of the asset management mergers because of commission-free trading, why the top 1% isn't static, why bond yields are so low, cashing out your 401k to pay for business school and more.

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Feb 26, 2020
What Makes People Happier Than Money (EP.126)
44:53

On this week's show we discuss the wealth inequality problem, how to get more people invested in financial assets, who gets hit the hardest during the next market crash, overcrowding in the private markets, concentration in the U.S. stock market, intellectual index funds debates, the benefits of working out and more.

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Feb 19, 2020
A Random Watch Down Wall Street: Margin Call
23:53

On this edition of a Random Watch Down Wall Street we re-visited Margin Call, the 2011 fictional movie about the 2008 financial crisis from the perspective of the various employees at an investment bank that is potentially going under. We discuss where this one sits on the pantheon of business movies, the wonderful cast and how well this has aged over time.

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Feb 17, 2020
Everybody's Trading (EP.125)
46:17

On this week's show, we discuss the rise of TikTok Tesla traders, material signs of wealth, the generational wealth gap, why so much money is going into bond funds, why NYC is the enemy of personal finance, the Coronavirus and much more.

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Feb 12, 2020
Talk Your Book: How To Create Income in Your Portfolio
27:52

On today's show, we talk with John Schonberg, portfolio manager of the Covered Bridge Fund. John explains how they derive income in this strategy by selling covered calls, and how this could fit into an overall portfolio.

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Feb 10, 2020
Do Economies Need to Go Bust? (EP.124)
45:27

On today's show we discuss the amazing run by Tesla's stock, why markets aren't like casinos, Ray Dalio's beef with the WSJ, Zeri Hedge getting banned from Twitter, sports gambling as the next stock-picking, why more risk doesn't always equal higher returns and much more.

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Feb 05, 2020
Apocalyptic Thinking (EP.123)
45:10

On this week's show, we discuss living for today, why millennials own such a small piece of the real estate pie, why investors trade more than they used to, why older people will be working longer, FIRE backlash, the Fed's role in stock valuations, the finances of ditching your car, why people are drawn to apocalyptic thinking and much more.

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Jan 29, 2020
The Short Squeeze (EP.122)
45:40

On this week's show we discuss Tesla's wild ride, fixing the US retirement system, why financial literacy doesn't always work, why the Fed isn't to blame for everything in the markets, long-term market return expectations, where are all the start-ups and much more.

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Jan 22, 2020
The 10 Best Jobs in America (EP.121)
48:49

On this week's episode we discuss Vanguard vs Mark Zuckerberg, do people value work over family, chances of a recession in 2020, Apple AirPods as a business, why are there so many mattress stores, Sapphire Reserve is raising rates, the plant-based meat market and much more.

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Jan 15, 2020
Millennials on Communism (EP.120)
52:54

On this week's episode, we discuss Ben's new book Don't Fall For It: A Short History of Financial Scams, the future of the publishing world, how markets respond to geopolitical uncertainty, why this bull market lacks euphoria, risks & opportunities from an aging population, how many people actually have a budget, 401k hacks and much more.

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Jan 08, 2020
Everybody's Busy (EP.119)
30:54

On this week's show we discuss working nights and weekends, why people are "busy" all the time, why we don't enjoy innovation as much as we should, tech bros vs finance bros, low stakes conspiracy theories, energy stocks and much more.

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Jan 01, 2020
The Best Decade in Human History (EP.118)
41:55

On this week's show we talk about the one year anniversary of the bear market, the Christmas Eve miracle bottom, the new Peter Lynch interview, why it never pays to be a pessimist, the illiquidity premium, recessionary vs non-recessionary bear markets and much more.

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Dec 25, 2019
A Random Watch Down Wall Street: Trading Places
23:46

We re-watched the 1980s finance classic Trading Places with Eddie Murphy, Dan Aykroyd and Jamie Lee Curtis to discuss how markets have changed since then, the most iconic scenes, and how well this movie aged.

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Dec 23, 2019
Shopping Under the Influence (EP.117)
42:00

On this week's show we discuss some of the best charts of the decade from YCharts, the different types of Twitter accounts, when ETFs will surpass mutual funds, the new Bob Iger book, the best memes of 2019, how much does the Tooth Fairy get these days and much more.

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Dec 18, 2019
Talk Your Book: The Case for Tactical Equity
27:55

On today's show we talk with Corey Hoffstein of Newfound Research about all things tactical, including their new ETF, ROMO.

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Dec 16, 2019
Murder of the American Dream (EP.116)
43:41

On this week's show we discuss the economy Paul Volcker inherited at the Fed, a decade without a recession, how to raise kind children, the appeal of annuities, avoiding a mid-life crisis, banana art and much more.

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Dec 11, 2019
A Random Watch Down Wall Street: Boiler Room
27:39

On this episode Michael and Ben rewatch the Wall Street classic, Boiler Room to discuss how things have changed in the industry since 2000, early Microsoft millionaires, cold-calling stock pitches and much more.

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Dec 09, 2019
It's What It Is (EP.115)
41:51

On this week's show we discuss the coming generational wealth transfer, some good economic news, The Irishman, too many contrarians, hedge fund money, investment banking as a career, 529 investing, one of the best things about parenting and much more.

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Dec 04, 2019
Talk Your Book: Elimination Alpha – How to XOUT Your Portfolio Losers
27:05

On this edition of Talk Your Book we chatted with Will Rhind and David Barse about the new GraniteShares XOUT U.S. Large Cap ETF and thinking about finding winners by avoiding losers in your portfolio.

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Dec 02, 2019
The Nastiest, Hardest Problem in Finance (EP.114)
43:14

On this week's show we discuss scale in the asset management business, Robloncho and Cybertruck reviews, the biggest worries in the real estate market, the student loan-like problem for young people and much more.

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Nov 27, 2019
Talk Your Books: Value & Momentum with Jack & Wes
40:55

On this edition of Talk Your Book, we spoke with Alpha Architect's Wes Gray and Jack Vogel about value and momentum strategies and how they developed their investing process.

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Nov 25, 2019
Worst Call Ever? (EP.113)
46:05

On this week's show we discuss our initial thoughts on Disney+, staying bearish on Netflix since 2002, tech adoption, Google checking accounts, Armageddon calls, the social media era, influencer fraud, new customers from free trades, measurables in advertising, home prices vs. interest rates vs. William Shatner and much more.

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Nov 20, 2019
Talk Your Book: Defined Outcome Strategies with Jason Barsema of Halo Investing
37:28

On this edition of Talk Your Book we had Jason Barsema from Halo Investing on to discuss the structured products market, how they're trying to make them more transparent, the pros and cons of structured products, best use cases for advisors and much more.

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Nov 18, 2019
I've Never Used an Emoji (EP.112)
41:47

On this week's show we discuss the growth in auto loans, denominator blindness in debt statistics, experts on an earlier version of the world, the one-percenters, timing value stocks, infinite leverage, more surveys and much more.

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Nov 13, 2019
Talk Your Book: Coaching the Yankees
32:15

On this Talk Your Book we sat down with Dana Cavalea, former strength & conditioning coach for the New York Yankees to discuss his book Habits of Champion and how he got the job of a lifetime at age 23.

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Nov 11, 2019
Talk Your Book: Greg Zuckerman on Jim Simons & Renaissance Technologies
28:02
On today's Talk Your Book we talked with Greg Zuckerman about his new book The Man Who Solved the Market. We covered how Jim Simons built the greatest track record ever, lessons all investors can take away from Simons, how Ren Tech does it, the process of writing this book and much more.
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Nov 07, 2019
The World's Worst Investor (EP.111)
37:28

On this week's show we discuss the food delivery recession, demographic wars, why people are staying in their homes longer, why teens love TikTok, how Deadspin imploded, selling out at the top, Apple wearable growth, Ashton Kutcher's personal finance advice, The Irishman and much more.

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Nov 06, 2019
CEO Departures (EP.110)
39:25

On this week's show we discuss company performance after a CEO leaves, never-ending finance arguments, what would happen if we banned buybacks, Elizabeth Warren's plans to break-up big corporations, Tesla as a sentiment barometer, why China matters more to Hollywood than the US, the glut of realtors and much more.

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Oct 30, 2019
Talk Your Book: Crossing Wall Street with Eddy Elfenbein
22:18

On this edition of Talk Your Book we chatted with Eddy Elfenbein about his ETF, the buy list, passively investing in active stock picking, why it's so difficult to do nothing most of the time with your investments, fulcrum fees and much more.

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Oct 28, 2019
The Least Happy Age (EP.109)
47:44

On this week's show we discuss the never-ending death of the 60/40 portfolio, why it feels logical and irrational to invest overseas right now, why rich people continue to work, how Blockbuster blew it with Netflix, the Influencer bubble may be popping, a recession may not be on the horizon, the age people are the most unhappy, Paul Rudd and much more.

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Oct 23, 2019
The Undies Indicator (EP.108)
44:42

On this week's episode we discuss the streaming wars, recession-proof businesses, the China-NBA clash, the power of Twitter, underwear economic indicators, credit vs. interest rates, the winner of the no-fee ETF war, Robinhood's foray into banking, finding a new role as a CFA, the greatest TV characters of all-time and much more.

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Oct 16, 2019
Re-Kindled: Malcolm Gladwell (EP.107)
36:35

On this edition of Re-Kindled, Michael and Ben discuss Tipping Point, Blink, Talking to Strangers, pop psychology, and Malcolm Gladwell backlash.

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Oct 14, 2019
Winners of the Financial Crisis (EP.106)
40:18

On this week's show we discuss how private equity came out so well from the financial crisis, what's changed in the private tech markets, algos controlling trading, how allowance to give your kids, why anecdotes don't tell the story about the economy, why Fidelity is the Microsoft of the asset management industry and more.

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Oct 09, 2019
Free Trading (EP.105)
44:00

On this week's episode we discuss momentum crashes, free trading for all, public vs. private markets, IPO performance, Goldman's foray into banking for the masses, healthcare inflation, rich people giving money to Ivy League schools, Shawshank what-ifs and much more.

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Oct 02, 2019
Stockpiling Cash (EP.104)
44:35

On this week's show we discuss Airbnb's need to IPO, WeWork's latest PR nightmare, rich people raising cash, why now is one of the hardest investing environments ever, do interest rates impact private markets, Disney Plus, why no one will ever buy Twitter, YouTube influencers, Jim Grant and much more.

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Sep 25, 2019
Talk Your Book: Investing in Private Companies with EquityZen
34:42

On today's Talk Your Book we sat down with Phil Haslett from EquityZen to discuss investing in private growth companies.

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Sep 23, 2019
Michael's Brain Fart (EP.103)
43:58
On this week's show, we discuss how to pass the CFA exam, the range of performance in S&P 500 companies, factor crashes, why quants matter more than index funds, influencer ghostwriters, understanding IRRs, what Amazon could do next, the best movies ever and much more.
 
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Sep 18, 2019
Economically Unattractive (EP.102)
37:07

On this week's show we discuss the passive bubble talk, private market bubble talk, credit cards, stocks vs the economy, people who own the market, Jeremy Renner's social media experiment, student loan forgiveness, and much more.

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Sep 11, 2019
Who Are the Losers? (EP.101)
48:06

On this week's show we discuss how flows affect the market, why there is no passive bubble, why small caps are always underfollowed, financial literacy differences between men and women, the Peloton IPO, why the Fed is not our savior, the Rock's singing voice, the new Chapelle, and much more.

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Sep 04, 2019
Best Case Recession (EP.100)
33:34

On this week's show we discuss the finances of having kids, the best case scenario for the next recession, is anyone bullish right now, hedging out the end of the world, Michael's worst take ever, Ben's student loan story, Joe Rogan, trading options, the best book of the year so far and much more.

On this week's show we discuss the finances of having kids, the best case scenario for the next recession, is anyone bullish right now, hedging out the end of the world, Michael's worst take ever, Ben's student loan story, Joe Rogan, trading options, the best book of the year so far and much more.

Aug 28, 2019
Re-Kindled: Amusing Ourselves to Death (EP.99)
23:54

On this edition of Re-Kindled, Michael and Ben discuss Amusing Ourselves to Death by Neil Postman.

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Aug 26, 2019
Paycheck to Paycheck (EP.98)
44:18

On this week's show we discuss yield curve inversions, why everyone is always predicting recessions, RV indicators, bonds are expensive, who buys negative rate bonds, our new noobwhale t-shirts, VC pump & dumps, how many people live paycheck-to-paycheck, fly swatters, social media cultures, money advice for people in their 20s and much more.

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Aug 21, 2019
Talk Your Book: Invest like a Hedge Fund with Titan
43:10

On today’s animal Spirits Talk Your Book, Michael and Ben talk to Clay Gardner of titan invest. Titan is on a mission to democratize hedge fund investing. Go to titanvest.com for more information.

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Aug 19, 2019
Business in a Box (EP.97)
41:27

On this week's show we discuss what to make of negative interest rates, who is buying these bonds with negative rates, the new Apple credit card, the growth in takeout food, why fly swatters can't be disrupted, how Planet Fitness hacked human nature to build a giant gym business, why fewer people are going to the movies every year, why millennials have no friends, what asset will be the best performer over the next 10 years and much more.

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Aug 14, 2019
The Bankrupt Barber (EP.96)
45:51

On this week's show we discuss how stocks have reacted to past Fed rate cuts, why is the stock market falling, why aren't there more unicorn companies in Japan, nature vs. nurture in your finances, why Michael bought a Peloton, Noobwhale t-shirts, can sovereign bonds really be in a bubble, CBD gyms, why people never feel rich, a rule of thumb on when to refinance, Amazon is getting into real estate, the most popular sandwiches and much more.

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Aug 07, 2019
Re-Kindled: Superforecasting (EP.95)
30:22

On this edition of Re-Kindled we discuss Philip Tetlock's masterpiece on prediction, Superforecasting.

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Aug 05, 2019
Rush For the Exits (EP.94)
40:31

On this week's show we discuss intellectual shaming, power laws in the stock market, the insane number of stocks that end up losers, why are fewer people driving minivans, what would happen if the USD lost reserve currency status, will there ever be negative interest rates in the US, why you should never borrow money from a friend and much more.

 

Jul 31, 2019
Broke & Overweight (EP.93)
41:26

On this week's show we discuss why are fewer people subscribing to Netflix, will we ever really reach peak podcast, how many people own their home outright, what is the chance your home will go down in value over 5 years, Elizabeth Warren's plan to rein in Wall Street, Mira Sorvino's thoughts on the stock market, Ray Dalio's thoughts on the coming paradigm shift, a boglehead's risk parity strategy on steroids & much more.

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Jul 24, 2019
Shielded Alpha (EP.92)
46:15

On this week's show we discuss the upside to social media, zombie VC companies, podcasting at Wealth/Stack, bubbles and career risk, using credit card reward points, where couples meet these days, the contradictory nature of having skin in the game, influencing and side hustling is hard, why specializing in sports could lead to more injuries and much more

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Jul 17, 2019
Talk Your Book: Agricultural Commodities
40:01

On this week's Talk Your Book, Michael and Ben sat down with Sal Gilbertie, CEO and founder of Teucrium Trading, an ETF provider of agricultural commodities products.

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Jul 15, 2019
The Next Big Short? (EP.91)
36:26

On this week's show we discuss does all the high-frequency trading at the start and end of the day matter, what trends will die off with the baby boomer generation, is Rich Dad, Poor Dad real, visualizing wealth inequality, Walmart's competition with Amazon, are banks a big short again, why did valuations get so low during the late-70s/early-80s, why does the government charge such high rates on student loan debt?, celebrating saving milestones and much more.

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Jul 10, 2019
Talk Your Book: The Acquirer's Multiple
34:44

On this episode of Talk Your Book, we talk with Toby Carlisle, portfolio manager of the new Acquirer's Fund ETF about deep value investing.

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Jul 08, 2019
A Single Push-Up (EP.90)
44:50

On this week's show we discuss why comedy movies are dying, therapy for social media, lower rates on savings accounts, Amazon as a shipping company, negative yielding debt, context around student loan debt, bank overdraft fees, how many Americans can do one push-up, the best books we've read in a long time and much more.

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Jul 03, 2019
Talk Your Book: Global Factor Investing
39:35

On this week's Talk Your Book, Michael & Ben sat down with Vincent De Martel of Invesco to discuss how institutional investors are using factor investment strategies and what this means for the space going forward.

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Jul 01, 2019
The Great Depression of 2073 (EP.89)
40:22

On this week's show we discuss why Michael is getting back into trading, Facebook's new cryptocurrency, is it a good thing more professional investors are buying up starter homes, should Vanguard get into private equity, why Harry Dent says there will be a depression in the year 2073, can you really use demographics to predict the markets, how many people cry after selling their home, why it's better to peak late in your career, why the 1990s had much better movies than we do now and much more.

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Jun 26, 2019
The Four Most Dangerous Words in Podcasting (EP.88)
36:26

On this week's show we discuss are there more unicorns now because there's more money in venture capital, why we're bullish on the next gen of retirement savers, Mary Meeker's most important trends on the Internet, is the personal finance industry a scam, what works better -- fitness advice or finance advice, is QE all psychological, will Social Security run out of money, why do we need inflation at all and much more.

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Jun 19, 2019
Talk Your Book: Trading with MarketSmith
40:58

Michael & Ben sat down with Irusha Peiris to discuss the psychology behind trading, why it's so difficult to become a full-time trader, the types of stocks that can be big winners over time and much more.

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Jun 17, 2019
Dad Cat Bounce (EP.87)
42:32

On this week's episode we discuss our chart crime of the year candidate, the staggering amount of student loan debt, managing money for NBA players, paying for time, why the home buying decision is so personal, contradictory bubble data, does anyone need an MBA, is Chernobyl the best show ever and much more.

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Jun 12, 2019
Talk Your Book: The Net Lease REIT ETF
31:26

On today's Talk Your Book, Michael & Ben sat down with Chris Burbach & Alexi Panagiotakopoulos to discuss investing in REITs and their new net lease REIT ETF.

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Jun 10, 2019
The Influencer Bubble (EP.86)
25:05

On today's show we talk about the influencer bubble, causes of death, peak smart phone, and the intelligence of the bond market. 

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Jun 05, 2019
Re-Kindled: Where Are the Customers' Yachts (EP.85)
38:45

Re-Kindled is a show where Michael and Ben discuss some of the best finance books ever written. On this episode of Re-Kindled Michael and Ben go through some of the lessons, passages, and funny anecdotes from Where Are The Customers' Yachts by Fred Schwed.

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Jun 03, 2019
The Podcast Power Law (EP.84)
39:32

On this week's show we discuss the unraveling of Tesla, what it takes to be in the top 1% of podcasts, where do people listen to podcasts, what Michael learned from creating a financial plan, why the fixed costs matter more than the variable costs in your budget, why workers are fleeing big cities, should parents charge rent when their adult kids move back home, the problem with checking your portfolio performance, some thoughts on annuities, would the market be lower without buybacks, raising cash for a down payment and much more.

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May 29, 2019
Talk Your Book: Help With Your Down Payment From Unison
32:05

On today's Talk Your Book we sat down with Brodie Gay of Unison to discuss the difficulty of coming up with a down payment on a house, why it could make sense to share in the upside of your home, the investment opportunity in residential real estate, why real estate will play such a pivotal role in most people's retirement plans and why leveraging the roof over your head can be so dangerous.

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May 27, 2019
The Absence of Stuff (EP.83)
38:16

On this week's show we discuss why dividends are underrated, the billionaire paying off student loans, Goldman Sachs buying United Capital, the curious case of WeWork, ETFs that pay you, struggling to figure out your career, where dead cat bounce comes from, why Michael Lewis is wrong about HFT & much more.

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May 22, 2019
Talk Your Book: Jeremy Schwartz of WisdomTree
31:36

On today's Talk Your Book we had Jeremy Schwartz of WisdomTree on the show to discuss the firm's dividend strategies, the rise of tax-deferred accounts, currency hedging, improving the 60/40 portfolio, investing overseas, and much more.

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May 20, 2019
Michael's Fitness Pal (EP.82)
37:54

On this week's show we discuss are the tech companies going to make us all fat and lazy, some good news for once in retirement saving data, the huge growth in tax-deferred accounts, how the S&P 500 has changed over the years, why is growth destroying value, why does Uber lose so much money, is it time to break up Facebook, why is it so hard to beat the S&P 500 and much more.

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May 15, 2019
The Rorschach Test (EP.81)
36:26

On this week's episode we discuss why Berkshire Hathway is the market's Rorschach test, Charlie Munger is still going strong at age 95, how many companies have avoided bankruptcy because of VC money, recession calls that won't age well, lessons from the new Jeopardy! champ, surveys of the week, why investors are getting smarter, why people always think it was better 50 years ago and much more.

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May 08, 2019
Re-Kindled: The Big Short (EP.80)
35:38

Re-Kindled is a show where Michael and Ben discuss some of the best finance books ever written. On this episode, they dig into The Big Short by Michael Lewis to talk about the lessons of the financial crisis from the banks to the subprime mortgage markets to those select few who made tons of money shorting the housing market.

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May 06, 2019
Remember Gchat? (EP.79)
34:25

On this week's show we discuss Tesla's huge drawdown, why making your stock bets public makes it harder to have an open mind, how our perceptions about retirement change over time, why does Uber lose so much money, how Charles Schwab seems to toe the line between bank and fund firm so well, will people drop Netflix for Disney+, how Americans have spent their money over the past 75 years, do young people require a financial advisor more than old people, the name for our new podcast, how to teach your kids about money and much more.

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May 01, 2019
The Re-Readables (EP.78)
33:48

On this week's show we discuss is inflation dead, what should we call our new podcast where we discuss classic finance books. what if the government eliminated all student loan debt, why eliminating student loans won't fix the high cost of education, the out of body, experience in private equity fundraising, the cult status of Dave Ramsey, the $400 emergency savings stat everyone uses is wrong, do rich people really watch less TV, are reverse mortgages the retirement crisis solution for those who haven't saved and much more.

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Apr 24, 2019
Money Made By Chance (EP.77)
39:20

On this week's show we discuss the guy who bet $85k to win $1.2 million on Tiger winning the Masters, Ray Dalio's plan to save capitalism, are we really worse off than previous generations, investing in college grads, how do advisors spend their time, Disney Plus, why didn't the bull market help pensions more, why we need more house flippers, when the real world throws a wrench in your investment plan, when is the right time to meet with a financial advisor and much more.

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Apr 17, 2019
Money Makes Money (EP.76)
32:27

On this week's show we discuss the retirement crisis or lack thereof, average savings rates by generation, the biggest expense super savers cut back on, the Barron's cover curse, how much longer the bull market can last, why dividends aren't as important to the stock market anymore, the cost of borrowing heavily shorted stocks, what happened to the dinosaurs 66 million years ago, retirement accounts 50 years from now and much more.

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Apr 10, 2019
(Fixed) The Netflix of Financial Advice (EP.75)
34:11
On today's episode we discuss how to pay for college on the cheap, why is financial literacy in the U.S. so low, is there ever going to be a solution for the retirement savings crisis, the Netflix model for financial advice, why the financial services industry is like the fast food industry, there are plenty of rich people to go around, the Lyft IPO, how much money would it take to get you off social media for good, why Michael is the Brett Favre of writing about the CAPE ratio, credit card recommendations is a big business, should financial advisors have their own advisor, where the 'Bell' in Tace Bell came from, why The Avengers movie franchise is just like the finance industry and much more.
 
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Apr 03, 2019
Footing the Bill (EP.74)
36:56

On this week's show we discuss the yield curve inversion, the Fed vs. the bond market, baby boomers vs. millennials, Kahneman vs. Cialdini, why IPOs are almost always oversubscribed, real estate vs. the stock market, Bitcoin trading volume is fake, new hedge funds vs. old hedge funds, simple vs. complex, behavioral lessons from the blackjack table and much more.

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Mar 27, 2019
Talk Your Book: Creating a Buffer
28:10

On today's talk your book we discuss surviving the upside when trying to hedge, the ideal client for hedging, structured product strategies in an ETF wrapper, why complex products require more homework, timing a hedging strategy, how options are impacted by volatility and much more.

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Mar 25, 2019
The Expectations Gap (EP.73)
38:38

On this week's show we discuss the college admissions bribery scandal, does it matter where you went to college, how the tech companies can help in higher education, CalPERS is making a bigger push into private equity, the expectations gap in retirement, lifestyle creep, how corporate trauma impacts individual stocks, the new Harry Markowitz portfolio is a tad odd, how automation will impact jobs in the future for young people and much more.

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Mar 20, 2019
Talk Your Book: The Low Volatility Anomaly
31:43

On this edition of Talk Your Book we discuss the low volatility anomaly with Invesco's Nicolas Kalivas. Topics include why low vol isn't as well known as some of the other risk factors, why finance theory doesn't always work in practice, why flows follow performance, behavioral reasons for low vol to persist as an anomaly, why rebalancing matters and much more.

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Mar 18, 2019
Where Were You at the Bottom (EP.72)
46:01

On today's episode we discuss Bill Gross, the hardest thing to do in the markets, the biggest mistake savers are making, how many workers max out their 401k, how much credit card debt is out there, what would you be willing to give up to get out of debt, how to cut your mortgage payments, why people move and much more.

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Mar 13, 2019
I Will Say This (EP.71)
38:59

The massive rally in stocks, did the Fed turn millennials into socialists, why real estate prices haven't done as well as you think, why have U.S. stocks dominated the last century, how to run a Ponzi Scheme in a post-2008 world, free ETFs, social media trauma, the 80/20 rule in online content, how much is enough for retirement and much more.

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Mar 06, 2019
The Rich Man's Disease (EP.70)
34:26

The meaning of work, why so many people are miserable with their career, smartphone addiction, Warren Buffett's latest shareholder letter, the greatest investor you've never heard of, the huge upside potential in a retirement portfolio, the insane rally in stocks since Christmas Eve, True Detective reviews and much more.

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Feb 27, 2019
Denominator Blindness (EP.69)
38:57

Zillow's new home-flipping venture, putting auto loan delinquencies into perspective, rising student loans for people over the age of 60, why the Internet makes it easier to negotiate, how big your nest egg should be at retirement, when errors cancel each other out in the markets, the fuzzy definition of alpha, misperceptions about tax refunds and much more.

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Feb 20, 2019
The Rich Man's IRA (EP.68)
35:02

On this week's show we discuss how index funds can differentiate themselves in a crowded field, how to wreck a pension fund, how does Renaissance Technologies make money, how much your time and vacation days are worth in terms of happiness, re-rating Boiler Room, how often to rebalance a 401k, mortgage debt vs. retirement savings and much more.

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Feb 13, 2019
Banning Buybacks (EP.67)
36:09

Amazon vs. Apple, banning stock buybacks to decrease inequality, how much pensions and endowments should have in alternatives, what to do with an underperforming money manager, why volatility is more important when drawing down your portfolio, the Fyre Fest pitch deck, what does Acorns do, low rate bank savings accounts and much more.

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Feb 06, 2019
Adverse Variance (EP.66)
35:00

Cash pouring into money market funds, how markets have changed over the past 200 years, does the US deserve a valuation premium, where are all the young star fund managers, millennials don't understand how down payments work, selling a house without a realtor, overestimating housing price gains, early thoughts on the new True Detective and much more.

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Jan 30, 2019
Stay the Course (EP.65)
25:36

The passing of Jack Bogle, interesting stories from his latest book, how to budget your money effectively, the impact of student loans on the housing market, what happens when baby boomers sell their stocks, the different groups that collectively own the stock market, Costco's amazing Kirkland Brand, our favorite movies from the 1990s and much more.

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Jan 23, 2019
The Richest 50 Percent (EP.64)
35:13

WeWork's rough patch, why Sears was the Amazon of their day, the relationship between mortgage rates and home prices, how the Japanese economy has defied their demographics, asset allocation blind spots, how many millennials plan on dying in debt, why Peter Lynch walked away from his fund at the top of his game, finance Twitter 20 years from now, The Sopranos 20 years ago and much more.

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Jan 16, 2019
Record Outflows (EP.63)
39:35

The record outflows from stock mutual funds, what a bear market means for the wealth management industry, why timing the market is so hard, recessionary indicators, some good news for investors interested in yield, the ridiculous way some people pick funds in their 401k, credit card perks, the number of people living paycheck to paycheck and much more.

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Jan 09, 2019
The Market Swoon (EP.62)
38:25

Steve Mnuchin's bizarre statement on the health of the banks, huge swings in the market from day-to-day, the causes of the market downturn, can we really blame the algos for increased volatility, is technology speeding up market cycles, stock millennials bought in 2018, performance for Ivy endowments in 2018, our review of the new Sandra Bullock movie on Netflix and much more.

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Jan 02, 2019
The Bear Market (EP.61)
37:48

the downturn in stocks, is a recession imminent, how often stocks go into a bear market but not a recession, why the Fed is in a no-win position, 2018's worst buzzword, how tax implications can impact your trading decisions, how different generations consume their news, how much CEOs matter to their stock price, the downfall of GE, a recession-proof business model and much more. 

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Dec 26, 2018
Talk Your Book: Breaking the Market Cap
26:55
On this week's Talk Your Book we discuss why market cap weighting is so hard to beat when constructing a fund, why cash outperforms the majority of stocks, the thinking behind reverse cap weighting the S&P 500, how to invest in companies with high customer satisfaction, some surprisingly strong consumer brands, qualitative investment factors and much more.
 

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Dec 24, 2018
Everyone Should Earn 3 Percent (EP.60)
36:34

On this week's show we discuss Robinhood's checking & savings debacle, do Millennials care about financial regulations, where to find higher yields on your savings, putting fund flows into context, the number of bear markets around the globe, can individual stocks be in a bear market, the student loan crisis, the "everything" bubble, market valuations, lifestyle creep, Jimmy Butler's minivan and much more.

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Dec 19, 2018
Talk Your Book: International Investing
31:33

We discuss US outperformance over foreign stocks, comparing valuations across countries and markets, why it still makes sense to diversify internationally, does factor investing work better overseas, S&P 500 envy, the problem with single variable stock picking analysis and much more.

Dec 17, 2018
Late Cycle (EP.59)
38:18

Are we in the late cycle, why every correction always feels different, why losses this year are perfectly normal, why a shallow recession and "normal" bear market would be a good thing, why more money doesn't make rich people happier, the labor market is heating up, alpha is getting harder to find but institutional investors are still willing to pay up to try and find it, millennials really like Amazon Prime, the unbelievable ending to the Madoff saga, Michael's coat-buying experience, the new Tom Cruise movie and much more.

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Ben Carlson’s A Wealth of Common Sense

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Dec 12, 2018
The Sellers Are in Control (EP.58)
25:58

On this week's how we discuss Michael's CNBC appearances, the FIRE movement, making your savings last for 50+ years, when FIRE goes bad, the average amount people spend in retirement, steak dinners paired with investment pitches, where is the Vanguard of annuities, the pressure to work long hours in the finance industry, normal accidents & much more.

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Dec 05, 2018
Talk Your Book: Investing in Commodities
35:00

We speak with Will Rhind of Graniteshares about the reasons to invest in commodities, expected returns in gold, is bitcoin a commodity, why it's so difficult to stick with an allocation to commodities, the unbelievable run in gold prices in the 1970s, how to win any argument in the markets and much more.

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Dec 03, 2018
Passive Income (EP.57)
34:52

Why monetizing content is so difficult, the myth of passive income, is it even possible to sell out in 2018, the difference between investing & gambling on options, how private equity ruined the grocery industry, Amazon as a scapegoat, when cash outperforms everything else, the chances of a recession, investing in art & much more.

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Nov 28, 2018
How to Ask the Right Questions (EP.56)
41:40

The 40-year history of the 401k, why the retirement system is far from perfect, the problem with cashing out your 401k, the pros & cons of multi-factor funds, competitive in factor investing, morning routines, financial regrets of the elderly, why the American dream is dying for so many in the middle class, why no one finishes non-fiction books and much more.

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Ben Carlson’s A Wealth of Common Sense

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Nov 21, 2018
How to Create the Perfect Fund (EP.55)
34:25

Universal basic income, the cost of paying every citizen $1,000/month, the perfect hedge fund, the language of money, the reason for the decline in youth sports, million dollar homes in San Francisco, how income variability should impact your savings rate, career advice for a new mom and much more.

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Nov 14, 2018
Spirit Animal (EP.54)
35:28

A timetable for the next bear market, what impact the mid-term elections have on the markets, how much money FANG CEOs have lost in the downturn, how often bonds outperform stocks over 30 year periods, the number of Americans who consider themselves financially healthy, the psychology of different price points, the government's role in the student loan crisis, why real estate returns less than you think and much more.

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Nov 07, 2018
Panic a Little (EP.53)
40:42

The one thing we're certain of about the markets going forward, why volatility begets more volatility in the markets, expectations vs. the economy, what to do if you've been sitting in cash, when to panic, why investors are fleeing bonds, are all the economic gains really going to the wealthy and much more.

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Oct 31, 2018
The Next Subprime (EP.52)
35:23

The housing market, homebuilder stocks, how much mortgage rates matter to the economy, what if there is no next subprime, how to think about inflation and your portfolio, the difficulty of owning bonds when inflation is rising, the Fed's thoughts on inverted yield curves, where chocolate milk comes from, asset location and much more. 

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Oct 24, 2018
The Healthy Correction (EP.51)
33:30

The current market correction, the myth of the 401k market floor, the problem with 401k loans, the downfall of Sears, the massive size of the student loan market, what's holding back young homebuyers, value investing in taxi medallions, Amazon wants to know when you're sick, who benefits from HSAs and much more.

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Oct 17, 2018
A Committee of Geniuses (EP.50)
40:42

The rise of social media in finance, reflections on the humble beginnings of this podcast, the case for investing in bonds, more hedge funds closing, your children are eating your retirement savings, the myth of short-termism by public companies, Amazon's minimum wage, Fed cartoons, the relentless bid and much more.

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Oct 10, 2018
Buy the Housing Dip (EP.49)
36:29

The new Howard Marks book on cycles, why super-investors may not be as helpful as you think, how the first Vanguard index fund was run by a part-time worker, SoftBank's lofty tech aspirations, choosing the right asset allocation for your portfolio, our beef with surveys, the fraud of the week, when to buy a house and much more.

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Oct 03, 2018
Looming Disaster (EP.48)
37:12

Bond market losses, why stocks diversify bonds, pot stocks & mini bubbles, Amazon's new microwave, the massive decline in world poverty, parallels to the 1990s, why retirement calculators aren't perfect but can still be useful and much more.

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Sep 26, 2018
Borrowing From the Future (EP.47)
37:03

Taking financial advice from billionaires, Ray Dalio's work on debt cycles, how to think about government debt levels, why it's so hard to quantify the true amount in index funds, millennial banking habits, shrinking hedge funds, investing in foreign markets during a U.S. recession and much more.

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Sep 19, 2018
How the Financial Crisis Affected Millennials (EP.46)
40:26

How the financial crisis impacted young people, why the Fed pays attention to the 1970s, AQR's recent struggles, the difference between insurance and investing, how much money you'll spend in retirement, Kevin Garnett's accountant, Rusty the stock-picking bull and much more.

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Sep 12, 2018
Do We Need a Recession? (EP.45)
32:50

The FIRE movement, why you're paying so little for stuff, the private jet college tour, the new technology sector, bounties on new brokers, why celebrities are terrible with their money and much more.

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Sep 05, 2018
When Hitler Took Cocaine (EP.44)
38:51

What 8 different market indicators are telling us, the growth of the intangible economy, chart crime sell signals, the decline in high schoolers playing football, the poor performance of managed futures funds, a bad idea by Chicago, can indexing become too popular and much more.

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Aug 29, 2018
Why Andy Dufresne Would Make a Good Money Manager (EP.43)
32:22

On this week's show we're joined by Morgan Housel. We discuss Elon Musk's surprising announcement, the odds we give Tesla for going private, the bubble prospects in venture capital, the impressive rise of Tinder, Peloton & Slack, is loss aversion a fallacy, which fictional character we would pick to manage our money and much more.

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Aug 22, 2018
Funding Secured (EP.42)
33:15

Elon Musk's bizarre tweets, the types of companies that typically go private, why stock buybacks aren't to blame for the wealth gap, why housing plays such a large role in the finances of the middle class, the prospects for gold going out of style for good, Amazon's private clothing brand, the usefulness of the CAPE ratio as a timing indicator and much more.

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Aug 15, 2018
Despite All Logic (EP.41)
32:25

The unraveling at Movie Pass, why Disney's streaming product will be a success, Fidelity's zero fee index funds, our biggest worry about the future, a troubling trend in personal bankruptcies, an ETF idea born out of Twitter, the lure of venture capital, credit spreads and much more.

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Aug 08, 2018
What Worked on Wall Street (EP.40)
52:51

Facebook's enormous stock price plunge, why life can be more challenging for young people today, the death of trend-following, hedge funds that don't want your money, the perfect day, the race to zero in ETFs, Elizabeth Banks as a fan of mid caps, why pop culture contrarian indicators don't work and much more.

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Aug 01, 2018
The Worst 401k Advice (EP.39)
42:01
The pie chart heard around the world, why concentrated gains in the stock market are nothing new, becoming a millionaire in your 401k, the worst 401k advice we've come across, the Vanguard of hedge funds, why value investing has performed so poorly this cycle, why so many millennials regret buying a house, the coming shortage of elderly care, inherited hindsight bias and much more.
 

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Jul 25, 2018
Half the Population (EP.38)
44:26

The recession signal everyone is talking about, Amazon somehow being touted as a value stock, the paradox of choice in the fund world, houses are getting bigger, Time Warner is going to ruin HBO, how tariffs are affecting the lobster industry and much more.

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Jul 18, 2018
Ring the Bell (EP.37)
38:38

The complexity of the trade war, tech IPOs, the surprisingly strong consumer balance sheet, the housing affordability index, a concerning economic data point, the burden of student loan debt, the staggering rise of esports and much more.

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Jul 11, 2018
Blackswan Growth (EP.36)
35:42
How Bud Light used Dilly, Dilly to get you to buy more beer, some drawbacks of index funds, why hedge fund fees are finally falling, the payday lending industry, getting rich vs. staying rich, why Liam Neeson is the index funds of Hollywood and much more.
 

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Jul 04, 2018
Individual Alpha (EP.35)
45:02

Why household equity allocations are near all-time highs, why Robinhood could be the bank of choice for Millennials, financial planning for inconsistent incomes, 10,000 baby booms retiring every day, perspective on market valuations and much more.

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Jun 27, 2018
The Mother of All Credit Bubbles (EP.34)
42:39