The Compound

Animal Spirits Podcast

Business EN ↓ 801 episodes

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

Business

Podcast website

awealthofcommonsense.com

Latest episode

Jul 8, 2026

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Episodes

Talk Your Book: Greg Zuckerman on Jim Simons & Renaissance Technologies 07.11.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant...

The World's Worst Investor (EP.111) 06.11.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant I...

CEO Departures (EP.110) 30.10.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Micha...

Talk Your Book: Crossing Wall Street with Eddy Elfenbein 28.10.2019

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. 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...

The Least Happy Age (EP.109) 23.10.2019

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. Find complete shownotes on our blogs... Ben C...

The Undies Indicator (EP.108) 16.10.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Co...

Re-Kindled: Malcolm Gladwell (EP.107) 14.10.2019

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

Winners of the Financial Crisis (EP.106) 09.10.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Se...

Free Trading (EP.105) 02.10.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on...

Stockpiling Cash (EP.104) 25.09.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s...

Michael's Brain Fart (EP.103) 18.09.2019

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.   Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us...

Economically Unattractive (EP.102) 11.09.2019

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. 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...

Who Are the Losers? (EP.101) 04.09.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrel...

Best Case Recession (EP.100) 28.08.2019

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 reces...

Re-Kindled: Amusing Ourselves to Death (EP.99) 26.08.2019

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

Paycheck to Paycheck (EP.98) 21.08.2019

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. Find complete shownotes on our blogs... Ben Carlson’s A...

Talk Your Book: Invest like a Hedge Fund with Titan 19.08.2019

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. 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.c...

Business in a Box (EP.97) 14.08.2019

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 perfo...

The Bankrupt Barber (EP.96) 07.08.2019

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 estat...

Re-Kindled: Superforecasting (EP.95) 05.08.2019

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

Rush For the Exits (EP.94) 31.07.2019

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.   Learn more about your ad choices. Visit megaphone....

Broke & Overweight (EP.93) 24.07.2019

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...

Shielded Alpha (EP.92) 17.07.2019

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 Find complete shownotes on our blogs... Be...

Talk Your Book: Agricultural Commodities 15.07.2019

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. 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, question...

The Next Big Short? (EP.91) 10.07.2019

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 s...

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