Animal Spirits Podcast

On episode 343 of Animal Spirits, Michael Batnick and Ben Carlson discuss: setting return expectations moving forward, US Large Cap stocks generating a ton of cash, a bear market in used cars, an update on Bitcoin ETFs, Great Quarter Guys, driving in a blizzard, and much more. Thanks to Nasdaq ETFs and Fabric by Gerber Life for sponsoring this episode. To learn more about Nasdaq ETF offerings, vis...

On this episode, Michael Batnick and Ben Carlson are joined again by Chris Shuba, Founder and CEO of Helios Quantitative Research to discuss: the experience of a diversified investor in 2023, utilizing AI to build portfolios for advisors, Helios' latest trading service offering, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irr...

On episode 342 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the biggest winners and losers of 2023 in the markets, short-term vs. long-term returns for stocks, why the U.S. dominates financial markets, the problem with being right once in a row, Bitcoin ETF fees, Americans are richer than you think and much more! Registration is open for Future Proof 2024! Secure your pass: here! Fi...

On today's show we discuss 2023 market performance, a bunch of 2024 predictions, our favorite historical stock market return series, the high quality of restaurants, paying off your mortgage early, the downsides of behavioral finance, Ben's most cynical take of the year and much more. Thanks to YCharts for sponsoring this episode! Our very own Nick Maggiulli is joining YCharts' webinar on January...

On episode 340 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Christmas arguments, green shoots in prices, 1940s vs. 1970s inflation, why we're not worried about index funds, how to save & invest in middle age, why Bitcoin is the most extreme asset, celebrating no recession in 2023, why the U.S. economy is more resilient, some Christmas movie recommendations, and much more! Thanks to...

On this episode, Michael Batnick and Ben Carlson are joined by Todd Morris, International Growth Portfolio Manager and Analyst for Polen Capital to discuss: reasons for the valuation discrepancies between international stocks and US stocks, how the dollar affects international investments, understanding cultural differences when investing outside the US, position sizing within a concentrated portf...

On episode 339 of Animal Spirits, Michael Batnick and Ben Carlson discuss: mission accomplished from the Fed, what comes after a soft landing, new highs in the stock market, small caps breaking out, the best thing we've built in America, more people own stocks than ever, the economic chart of the year, the best movie of the 2020s (so far), and much more! Thanks to AllianceBernstein and the College...

On this episode of Talk Your Book, Ben Carlson and Michael Batnick are joined by, Marco Hanig, Managing and Founding Principal of Alternative Fund Advisors and former Principal at AQR to discuss: the basics to Private Credit, the differences between a loan and a bond, why Private Credit is earning a premium yield, and much more! To learn more visit: https://alternativefundadvisors.com/ Find comple...

On episode 338 of Animal Spirits, Michael Batnick and Ben Carlson discuss: good news on the economy, why the stock market loves lower inflation, did Elon Musk help kill inflation, getting bullish on consumer sentiment, Netflix won the streaming war, Rich Dad/Poor Readers, timing the housing market, and much more! Thanks to YCharts and the College for Financial Planning—a Kaplan Company—for sponsor...

On today's Talk Your Book, Ben Carlson and Michael Batnick are joined by Alex Morris, CIO and President of F/m Investments to discuss: F/m Investments Opportunistic Income ETF, interest rate risk vs. credit risk, market cap weighting bonds, knowing when to sell a bond, and much more! Learn more about F/m Investments ETFs at: https://fmetfs.com/xfix/ Find complete show notes on our blogs... Ben Car...

On episode 337 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Charlie Munger, how much the Fed really matters, negativity bias in America, the blame game for inflation, why you don't invest based on the headlines, narratives on bond yields, doom spending in the economy, a quiet crypto boom, and much more! This episode is sponsored by Nuveen and Kaplan Schweser. Learn more about invest...

On today's Talk Your Book, Ben Carlson and Michael Batnick are joined again by Sal Gilbertie, CEO of Teucrium to discuss the golden grain cycle, the cost of production and expected long term returns for commodities, how everyone got the oil market wrong, how the US dollar affects the commodity market, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Mi...

On episode 336 of Animal Spirits, Michael Batnick and Ben Carlson discuss: why people keep spending so much money, long droughts between new highs in the stock market, the best upside AI hedge, intelligence vs. pessimism, denominator blindness with inflation, most Americans are better off, why people are unhappy at work, when it will be a good time to buy a house again, and much more! Thanks to Vi...

On this episode, Michael Batnick and Ben Carlson are joined by Nuveen Portfolio Manager Nick Travaglino to discuss the bond market, the Fed, fixed income yields, what's goin on with interest rates, and more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com wi...

On episode 335 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the blowout year for the Nasdaq 100, how experience shapes investment decisions, transitory inflation arguments, where prices have risen the most, who got the biggest wage gains, why housing prices refuse to crash, where to find affordable houses, why you can't trust sentiment surveys, and much more! Thanks to YCharts for s...

On episode 334 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the Fed's victory over inflation, what Americans get wrong about inflation, the price of iPhones is actually going down, when we get the first Fed rate cut, the rising unemployment rate, housing prices vs. recessions, Netflix movies, vests are overrated, and much more! Thanks to Amplify ETFs for sponsoring this episode. Lea...

On today's show, Michael Batnick and Ben Carlson are joined by Chris Kuiper, Director of Research at Fidelity Digital Assets to discuss: fundamental reasons Bitcoin is outperforming in 2023, illiquid Bitcoin values and supply/demand affects on digital assets, what Ethereum's different layers represent, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense M...

On episode 333 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the cooling labor market, why the 60/40 portfolio looks more attractive now, why the Fed is in a tough spot, why everyone hates this economy, how to become a millionaire, realtor commissions, reclining your seat on a plane, and much more! Thanks to YCharts for sponsoring this episode. Register for Michael and Ben's year-end...

On today's show, Michael and Ben are joined by Alex Morris, Co-Founder and CIO of the US Benchmark Series to discuss: making bets on duration, risks on the short and long end of the treasury curve, finding asymmetries in the fixed income market, and much more!    Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to s...

On episode 332 of Animal Spirits, Michael Batnick and Ben Carlson discuss: why so many people hate this economy, anecdotes vs. data, a depression in the mortgage industry, the good news about falling stock prices, small caps look cheap, consumers need a recession, and much more! Thanks to Kaplan Schweser for sponsoring this episode. Learn more about how they can help you prepare for the CFA at: ht...

On today's show, Michael and Ben are joined by Brendan Ahern, CIO of Kraneshares to discuss: the creation of Kraneshares Luxury ETF, demographic trends and utilizing the wealth affect, challenges in investing in international markets, luxury dynamics in a recession, and much more!    Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant In...

On episode 331 of Animal Spirits, Michael Batnick and Ben Carlson discuss: higher growth and higher rates vs. lower growth and lower rates, why there is so much focus on 60/40 portfolios, bears vs. doomers, the annoyance economy, why no one is happy about the economy right now (or ever), a record jump in net worth, renting vs. buying, and much more! Thanks to YCharts for sponsoring this episode. T...

On today's show, Michael and Ben are joined by Hamilton Reiner, MD, PM, and Head of US Equity Derivatives at J.P. Morgan Asset Management to discuss: how hedging ladders provide downside protection, the goal of the HELO ETF, hedged equity strategies vs traditional 60/40 portfolios, the impact of volatility on the strategy, and much more!    Find complete show notes on our blogs... Ben Carlson’s A...

On today's show, Michael and Ben are joined by Samir Kaji, CEO, President, and Co-Founder of Allocate to discuss: what start-up prices look like today, if the free money era is gone forever, VC return dynamics and the power law, and much more!    Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email...

On episode 330 of Animal Spirits, Michael Batnick and Ben Carlson discuss: inflation coming down, the continued strength of the US consumer, Howard Marks on investing for a sea change, the risk-reward in bonds, what would happen if the US government paid off its debts, EMH in crypto, the worst case scenario for the housing market, and much more! Thanks to iShares for sponsoring this episode. To le...