Animal Spirits Podcast

By Michael Batnick and Ben Carlson

Listen to a podcast, please open Podcast Republic app. Available on Google Play Store.


Category: Investing

Open in iTunes


Open RSS feed


Open Website


Rate for this podcast

Subscribers: 489
Reviews: 1


 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.

Episode Date
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. 

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.

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.

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.

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.

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.

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.'

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Feb 26, 2020
Talk Your Book: Small and Mid Cap Growth Investing
40:30

On this edition of Talk Your Book, Michael and Ben sat down with Bob Mitchell and Derek Johnston of Conestoga Capital Advisors to discuss investing in small and mid cap growth stocks and why this space is often overlooked by investors.

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.

Feb 24, 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.
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.
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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.
 
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.
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.

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.

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.

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.

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.

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.

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.

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.

Aug 21, 2019
Talk Your Book: Invest like a Hedge Fund with Titan
37:22

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.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

 

 

 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Follow Animal Spirits on Instagram @AnimalSpiritsPod

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.

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.
 
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.
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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

 

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.

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.

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.

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.

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. 

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.

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.
 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.
 

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.

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.

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.

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.

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.

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.
 

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.

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.

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.

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

Some suggestions Barron's has for Warren Buffett, the latest Howard Marks letter, the "mother of all credit bubbles", why computer programmers should consider moving to the midwest, the source of the investor behavior gap, unrealistic millennial retirement goals 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Jun 20, 2018
The Oracle of Brooklyn (EP.33)
40:21

We talk about Big Mistakes in the Wall Street Journal, how retirement investors are wising up, the crazy Gen Z retirement plan, why markets haven't changed much since the late-1600s, parenting money tips 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Jun 13, 2018
Big MIstakes (EP.32)
38:29

Michael's new book (Big Mistakes: The Best Investors and Their Worst Investments), how he came up with the idea for the book, where the value & momentum premiums come from, why investing is all about expectations & overreactions, Mary Meeker's new tech deck 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Jun 06, 2018
Stocks Are Not Bonds (EP.31)
43:14
The risks involved in concentrated stock positions, why factor investing is so hard, the limitations of historical market data, the myth of the marshmallow test, the downfall of ESPN, Michael's book of the summer 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

May 30, 2018
What It Takes to Be Wealthy (EP.30)
40:32

The brilliance of John Bogle, how much money people in their 30s should have saved, how different age groups define wealth, thinking outside the box for CalPERS, David Einhorn's struggles, chart crimes, mortgage rates 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

May 23, 2018
The Podcast Boot Camp (EP.29)
35:39

Why market bubbles have nothing to do with ETFs, the multi-millionaire secretary's secret, the massive revenue airline credit cards bring in, the mistakes you want to make as a young investor 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

May 16, 2018
Tesla Hathaway (EP.28)
35:05

On this week's show we discuss WeWork's community-adjusted EBITDA, Elon Musk vs. Warren Buffett & Charlie Munger, size is the enemy of outperformance, why index funds are too simple for institutional investors, why housing is a bad investment & 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

May 09, 2018
Micro Bubbles (EP.27)
37:13

The most common ages in the US and what it means for the markets, micro bubbles in tech stocks, Amazon's Field of Dreams moment, Peter Lynch's stock picks, how our families impacted our thinking about finances 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

May 02, 2018
The Collaborative Podcast (EP.26)
37:29
Morgan Housel joins this week as guest host to discuss venture capital, annoying finance phrases, Disney vs. Netflix, Tesla, Jeff Bezos 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Apr 25, 2018
Some Things We Learned (EP.25)
38:21
Why the next recession won't be like the last one, what could possibly cause market returns to be higher in the future, why states & cities are short on cash, the 200-day moving average 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Apr 18, 2018
The False Breakdown (EP.24)
37:48
How to solve the financial literacy issue, the downfall of Bill Ackman & David Einhorn, how much money people think they need to retire, Drew Brees diversifying into diamonds & 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Apr 11, 2018
The Lump Sum (EP.23)
27:08

On this week's show we discuss if we would you rather collect $1 million now or $1,000 for the rest of our lives, how the world has changed since 2008, the single best investment trait to compound capital 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Apr 04, 2018
Horizontal Support (EP.22)
41:12

Why investing is getting harder over time, why share buybacks get a bad rap, why life insurance is on the decline, two centuries of momentum 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Mar 28, 2018
The Magic Number (EP.21)
36:29

A possible foray into business TV for Amazon, the most well-connected man in hedge funds, how to lie with surveys, your magic retirement number & 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Mar 21, 2018
Goodnight Moon (EP.20)
43:39

The flash correction in stocks, why most people need financial advice more than investment advice, our children's book recommendations & 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Mar 14, 2018
Brothers from Another Mother (EP.19)
37:35

How your job should fit into your investing decisions, our thoughts on Jim Cramer, misconceptions about share buybacks 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 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.

Mar 07, 2018
The Closet Indexer (EP.18)
42:12

Takeaways from the latest Warren Buffett shareholder letter, the potential baby boomer retirement crisis, how millennials should think about retirement 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Feb 28, 2018
Phony Happiness (EP.17)
39:00
Why our memories play tricks on us in the markets, the pros & cons of private equity, the permanent portfolio, scary market predictions 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 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.

Feb 21, 2018
The Meltdown (EP.16)
32:17

On this week's show, we discuss our thoughts on the market correction, why there's been nowhere to hide from the losses, the narratives surrounding the sell-off 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 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.

 

Feb 14, 2018
The Noobwhale (EP.15)
41:30
On this week's show we discuss the current market sell-off, the hidden risks in alternative investments, why women make better financial decisions than men 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.

Feb 07, 2018
Cash on the Sidelines (EP.14)
38:48

On this week's show we debate whether the Fed has really been punishing savers, take a step back and admire the current bull market, talk about the best black swan hedges 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 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.

 

Jan 31, 2018
Nobody Wants to Listen to Your Podcast (EP.13)
27:00

On this week's show, we offer career advice to a young person starting out in finance, discuss our rules for writing effectively, talk about the craziest story we've read on the crypto craze 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 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.

 

Jan 17, 2018
The Melt-Up (EP.12)
26:48

On this week's show, we discuss the prospects for a melt-up in the stock market, look back at the long history of bubbles in stocks, try to figure out the best investment you can make in 2018 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 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.

 

Jan 10, 2018
Hedge Fund Myths & Casual Investing Advice (EP.11)
36:08

On today's show, we discuss what to do if you've been sitting in cash during the bull market, go through Ben's latest portfolio changes, do some myth-busting about hedge funds 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 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.

 

Jan 03, 2018
The Happiness Smile (EP.10)
32:44

On today's show we talk about how the new tax reform will impact your paycheck next year, why happiness declines for most people until they hit their 50s, our favorite books, movies & TV shows of 2017, 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 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.

 

Dec 27, 2017
Invest Like the Worst (EP.09)
29:41
We discuss some passages from Michael's old trading diary, the reason Millennials should be praying for poor market returns, why you should read more fiction 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 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.

 
Dec 20, 2017
May Day (EP.08)
30:33
On today's show, we discuss Jack Bogle's dire warnings for pension funds, why women make better investors than men, how financial advisors can give good advice when their clients ask about Bitcoin 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 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.

Dec 13, 2017
A Random Walk Down Nowhere (EP.07)
29:56
On today's show, we talk about how life changes in 2017 have impacted our perspective on our finances, discuss the role technology will play in the future of the labor market, the holy grail of an investment process 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 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.

Dec 06, 2017
Bitcoin, Bubbles & Bananas (EP.06)
29:29
On today's show, we speak about the meteoric rise in Bitcoin through the lens of human psychology, discuss how difficult it is to break through as an up-and-coming fund manager, and some of the challenges to early retirement.
 

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.


 

Nov 29, 2017
Wave Pools and Market Inefficiencies (EP.05)
29:18

On today's show, we speak about how career risk creates inefficiencies in the market, signs of froth, the Vanguard of alternatives, and ETF price wars. 

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.


 

 

Nov 22, 2017
Evidence-Based Investing Conference Post-Mortem (EP.04)
30:42

We reflect on a fun day at the Evidence-Based Investing Conference in New York City with some of our favorite talks, anecdotes, statistics, and quotes.

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.

 

 

Nov 17, 2017
The More You Pay, The Less You Get (EP.03)
26:07

We discuss what do in an environment of lower expected future returns, how can investors protect themselves from complacency, what would cause us to sell all of our stocks, and whether reading investing books make you a better investor. We also get Ben’s reaction to Jack Bogle quoting him in his new book, The Little Book of Common Sense Investing.

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.

 

 

Nov 17, 2017
Investing is a Game of Relative, Not Absolute Skill (EP.02)
26:15

We discuss the difference between portfolio managers and portfolio management, Michael’s favorite investment book ever written, how to think about financial television, the amazing run in tech stocks, the future of the asset management business, the psychology behind dividend payments 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 animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.


 

Nov 17, 2017
Animal Spirits Unleashed (EP.01)
28:06

Both Ben Carlson and Michael Batnick joke that we probably talk to each other more than we talk to our own wives. Michael lives and works in New York while Ben lives and works in Michigan so the two are probably on the phone with each other a minimum of 5-6 times a day. We also hold simultaneous conversations with one another through direct messages Twitter, quick hits on Slack, text messages, email, and occasionally Skype.

The majority of the time we talk about different research we're looking at, what we've been reading, crazy things going on in the markets, irrational things being said or done by investors, ideas for writing material, dad talk, what's going on with our own investments or personal finances, TV shows/movies/comedy specials we like or dislike and much more.

So, like everyone else on the planet, we've decided to start our own podcast called Animal Spirits with Michael & Ben.

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.

 

Nov 15, 2017