The Compound
Animal Spirits Podcast
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/
Author
The Compound
Category
Podcast website
Latest episode
Jul 8, 2026
Where to listen?
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Episodes
Michael's Worst Investment Ever (EP.127) 26.02.2020 52:04
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Face...
What Makes People Happier Than Money (EP.126) 19.02.2020 45:11
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Mi...
A Random Watch Down Wall Street: Margin Call 17.02.2020 24:09
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. Find complete shownotes on our blogs......
Everybody's Trading (EP.125) 12.02.2020 46:35
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoo...
Talk Your Book: How To Create Income in Your Portfolio 10.02.2020 28:09
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at...
Do Economies Need to Go Bust? (EP.124) 05.02.2020 45:45
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like u...
Apocalyptic Thinking (EP.123) 29.01.2020 45:28
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. Find complete shownotes on our blogs... Ben Carlson’s A...
The Short Squeeze (EP.122) 22.01.2020 45:58
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Fa...
The 10 Best Jobs in America (EP.121) 15.01.2020 49:08
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like...
Millennials on Communism (EP.120) 08.01.2020 53:13
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. Find complete shownotes on our blogs... Ben Carlson’s A Wea...
Everybody's Busy (EP.119) 01.01.2020 31:10
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot...
The Best Decade in Human History (EP.118) 25.12.2019 42:13
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on F...
A Random Watch Down Wall Street: Trading Places 23.12.2019 24:02
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspirit...
Shopping Under the Influence (EP.117) 18.12.2019 42:18
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on...
Talk Your Book: The Case for Tactical Equity 16.12.2019 28:11
On today's show we talk with Corey Hoffstein of Newfound Research about all things tactical, including their new ETF, ROMO. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future top...
Murder of the American Dream (EP.116) 11.12.2019 43:59
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animal...
A Random Watch Down Wall Street: Boiler Room 09.12.2019 27:56
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspi...
It's What It Is (EP.115) 04.12.2019 42:08
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And fee...
Talk Your Book: Elimination Alpha – How to XOUT Your Portfolio Losers 02.12.2019 27:21
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gm...
The Nastiest, Hardest Problem in Finance (EP.114) 27.11.2019 43:32
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animals...
Talk Your Books: Value & Momentum with Jack & Wes 25.11.2019 41:13
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback,...
Worst Call Ever? (EP.113) 20.11.2019 46:23
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common...
Talk Your Book: Defined Outcome Strategies with Jason Barsema of Halo Investing 18.11.2019 37:45
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And...
I've Never Used an Emoji (EP.112) 13.11.2019 42:05
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an...
Talk Your Book: Coaching the Yankees 11.11.2019 32:32
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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@g...
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