<p>On this episode Josh explains why we're facing three worst case scenarios all at once, how markets are reacting and why the vaccine is the only thing that matters.</p><br><p>Plus, today's new traders seem to not understand what has happened to prior generations of new traders. A brief history of daytrading - from the Turtle Traders to the SOES Bandits - seems to be in order.</p><br><p>Then Josh talks with Hadi Yousef about how he created the best investing app of the year. It will totally change the way you keep track of your investments and learn about what's happening in the markets and the economy.</p><br><p>Ratings and reviews go a long way so please, if you're enjoying the show, tell the Apple or Spotify or whatever app you're listening on!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This week on the pod, Josh talks to Barry Ritholtz and gets the rules straight for their 2020 election bet - who will win, what will happen afterwards. Plus, venture capital is now a $500 billion asset class, but gaining access to the top VC funds is pretty much impossible for ordinary investors and even most investment professionals. Josh talks to Phil Haslett, the founder of Equity Zen, about how this is changing. There could be a revolution coming, and Phil's firm is likely to be leading it. Here's how you can make your first investments in venture capital without starting at a huge dollar amount.</p><br><p>You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!</p><br><p>And be sure to&nbsp;<a href="https://podcasts.apple.com/us/podcast/the-compound-show-with-downtown-josh-brown/id1456467014" rel="noopener noreferrer" target="_blank">leave a rating and review - they go a long way</a>!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh talks to Ben Carlson about how it is that over 400 companies in the Russell 3000 have lost money this year but posted an average stock market return of +57%. Over 100 companies that lost money in 2020 have actually seen their share price double! WTF is going on?</p><br><p>Dasarte Yarnway joins Josh to talk about his burgeoning financial advisory firm and the powerful message he's been sharing throughout the industry: Spend time doing the things you value and the rest will fall into place.</p><br><p>Plus: The Fastly blow-up this week may be more meaningful than you think, BlackRock says $1.4 trillion is sitting in mutual funds with negative 3-year returns, and is it Larry Kudlow's responsibility to help you trade the pandemic?&nbsp;Nope!</p><br><p>Be sure to leave us a rating and review, they go a long way! Thank you!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On this week’s episode of The Compound Show, we’re looking at how the political landscape might impact the economy and the stock market. First, Josh talks economic stimulus and the Fed with Professor Tim Duy of the University of Oregon. Next, Josh catches up with Joe Terranova, of CNBC and Virtus Investment Partners, to discuss the supply and demand imbalance in the stock market and approaches to investing.</p><br><p>Thanks for listening and be sure to leave a rating and review!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>We're on pace to break the all-time record for IPOs set back in the year 2000. We could potentially see over $100 billion raised in initial public offerings and more than 200 newly listed companies by the end of 2020. If so, it would be one of the strangest, most unpredictable outcomes of the year - and that's really saying something this year!</p><br><p>Today's new episode of my podcast, The Compound Show, takes a look at the IPO Fever we're experiencing now. I have two of the most knowledgeable people in the country as my special guests. First, we talk to Kathleen Smith, the founding director of Renaissance Capital, the premiere research firm in IPOs and the sponsor of the IPO ETF. Then, we speak with Jay Heller, the head of US capital markets at Nasdaq, who has overseen the launch of approximately one hundred new issues so far this year - most of which he conducted from his kitchen table in suburban New Jersey! Kathleen and Jay have so much knowledge to share about initial public offerings and the watershed year that 2020 has become. You're really in for a treat this week :)</p><br><p>Thanks for listening and please leave a rating and review!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Are you a buyer? The sooner the better. Are you a seller? Ask high, and take your time.Because the boom in suburban real estate was going to happen, beginning this year, pandemic or not. And it could have legs for years. That's according to special guest Logan Mohtashami of HousingWire, who joins Downtown Josh Brown to discuss everything you need to know about homebuilders, existing home sales, demographics, realtors, real estate technology, mortgage rates and more.</p><br><p>And be sure to leave a rating and review - they go a long way!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This week Josh talks to Business Insider columnist Linette Lopez about what happens to the stock market if Trump loses and doesn't leave. And is Joe Biden so terrible for investors? Tax expert and Ritholtz Wealth CFO Bill Sweet weighs in. Plus, Josh's take on the explosive Snowflake IPO and a round of What Are Your Thoughts with Michael Batnick.</p><br><p>The Compound Show goes up every Friday morning, subscribe wherever you get your favorite podcasts! Leave us a rating and review, it goes a long way!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This week on The Compound Show - why investors and market watchers are captivated by the months of September and October. Plus, Josh talks with Morgan Housel about the stupendous luck of Bill Gates, the piracy of Cornelius Vanderbilt and what we need to know about the Psychology of Money. Morgan's new book is now available wherever fine books are sold (or downloaded). Plus, the message Josh gave his firm's employees on the eve of their seventh anniversary, and why there are no goals set for financial advisors who work there.</p><p>Leave us a rating and review, they really go a long way!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh's guest on the podcast this week is Byrne Hobart (author of The Diff substack letter, link below) who has just completed a comprehensive series of thought experiments on each of the largest technology stocks. After a conversation with Andrew Walker (Yet Another Value Blogger), Byrne set off to answer the question What could disrupt Amazon, Apple, Microsoft, Google or Facebook enough to knock them off their pedestals? It is historically unlikely that the five largest stocks of 2020 will remain the five largest in ten years' time. So which is most vulnerable? And why? Join Josh and Byrne as they explore the threats to these gigantic companies (and their stock prices).</p><p>&nbsp;</p><p>Make sure to check out Byrne's writing and research at The Diff!</p><p><a href="https://slack-redir.net/link?url=https%3A%2F%2Fdiff.substack.com%2F&amp;v=3" rel="noopener noreferrer" target="_blank">https://diff.substack.com/</a></p><br><p>Subscribe to The Compound Show podcast and be sure to leave a rating and review - they mean a lot!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

Josh spoke at the Riskalyze Fearless Week virtual conference and relayed the six biggest lessons he learned during Pandemic Summer. Some are business lessons and some are personal - but for Josh, business has always been personal. Plus, Michael Batnick returns for an all new edition of What Are Your Thoughts - Josh put a trade on he wants to be talked out of, Apple has added almost three quarters of a trillion dollars in market cap over 56 trading sessions, how to survive an investment idea you're too early to, why market crashes, recessions and recoveries speeding up makes sense and a lot more! Leave us a rating and review, they go a long way!<br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>What does it feel like when Warren Buffett's Berkshire Hathaway makes an investment in your company? STORE Capital President and CEO Christoper Volk joins Josh to explain, plus insights on what's happening on Main Street USA with business owners, services business, restaurants and stores.</p><br><p>Plus! New York City may be down, but it's not out! It's never out. Josh's take on the James Altucher post that went viral this week.</p><br><p>Leave us a rating + review! They go a long way, we appreciate it!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>As World War I came to an end, the Spanish Flu pandemic of 1918 raced around the globe, infecting as many as 500 million people and killing an estimated 50 million. Shortly after it ran its course, the United States experienced one of the biggest booms in history, the Roaring 20’s.&nbsp;Could it happen again? Another boom decade fueled by high productivity and an onslaught of technological innovation?</p><br><p>Dr. Ed Yardeni is the President of Yardeni Research, Inc. He’s served as a chief strategist on Wall Street as well as an economist at both the New York Fed and the Treasury. He’s been writing about the parallels and contrasts between the 1920’s and the 2020’s and I’ve asked to come on and talk to us about it.</p><br><p>Plus, Michael Batnick returns to play What Are Your Thoughts - all of the biggest topics of this week in money and investing.&nbsp;Visit&nbsp;<a href="https://slack-redir.net/link?url=http%3A%2F%2Fthereformedbroker.com&amp;v=3" rel="noopener noreferrer" target="_blank">thereformedbroker.com</a>&nbsp;for full show notes, links and resources!</p><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

This week Josh does a deep dive into stock splits and talks with Peter Boockvar, editor of&nbsp;<a href="https://slack-redir.net/link?url=http%3A%2F%2FBoockReport.com&amp;v=3" rel="noopener noreferrer" target="_blank">BoockReport.com</a>&nbsp;and CIO of Bleakley Advisory, about the economy, stagflation, and the bull market in gold. Leave us a rating and review if you like the show, it helps a lot!<br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>This week Josh talks with Brendan Ahern, Chief Investment Officer of KraneShares, to find out how US investors can get involved with TikTok, the hottest social network on earth. They discuss the opportunity in Chinese internet stocks, the massive size and scale of Ant Financial, which will be coming public soon, and how US investors can stay updated on all of the biggest developments in China. You can subscribe to Brendan's daily morning note at&nbsp;<a href="https://slack-redir.net/link?url=http%3A%2F%2FChinaLastNight.com&amp;v=3" rel="noopener noreferrer" target="_blank">ChinaLastNight.com</a>&nbsp;to get up to speed.</p><br><p>Michael Batnick joins for a new edition of What Are Your Thoughts to tackle the best 90 day period for diversified investors ever, the biggest earnings day of the year, the rally in gold and Bitcoin, when plumbers have stock tips and more!</p><br><p>Leave us a rating and review if you like the show, it helps a lot!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On the newest episode of the Compound Show, join Downtown Josh Brown for a discussion about the bubble in belief. The rise of "Special Purpose Acquisition Corp 2.0" involves the backdoor IPOs of DraftKings, Nikola, Utz Potato Chips, the Golden Nugget Online, Virgin Galactic and many other well known companies. Pershing Square's Bill Ackman just launched the largest SPAC ever this week. What does it mean? What does it signify about the current market environment? Plus, a conversation with Larry McDonald (A Colossal Failure of Common Sense) about whether or not the S&amp;P 500 index committee can keep ignoring Tesla, now that it's reported four straight quarters of GAAP profits and its market cap is larger than almost all the other holdings.&nbsp;</p><br><p>Leave us a rating and review and we'll love you forever! It helps a lot!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On this week's episode of The Compound Show, Josh discusses the Covid-19 economy and why Universal Basic Income (UBI) might be the inevitable and necessary solution. Next, Michael Batnick joins Josh for an all new round of What Are Your Thoughts. They discuss gold vs the S&amp;P, Elon Musk vs Warren Buffett, and much more!</p><br><p>Subscribe to the podcast and be sure to leave us a rating and review on iTunes, Spotify, or Google. Ratings help a lot! Thanks!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On this episode of The Compound Show, Josh discusses this summer's huge rally in Chinese stocks, and the implications for investors when Europe and Asia seem to have done a better job addressing the pandemic. Vitaliy Katsenelson joins to talk about the problem with paying any price for growth stocks. Noah Kerner, the founder and CEO of Acorns joins Josh for a discussion about how he's taught 7 million people how easy it is to start investing at any age, with any dollar amount.</p><br><p>Subscribe to the podcast and make sure to leave us a rating and review on iTunes, Spotify or Google. Ratings help a lot! Thank you!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On this episode of The Compound Show, Josh talks about the 4.8 million jobs added back in June, the wild dispersion within the Real Estate sector of the stock market, warehouses vs office buildings, and some plans for July 4th weekend. Michael Batnick joins for another round of What Are Your Thoughts to answer the question "Why would anyone invest right now?"</p><br><p>Subscribe to the podcast and make sure to leave us a rating and review on iTunes, Spotify or Google. Ratings help a lot! Thank you!</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

In the first half of this week's episode, Josh discusses the coronavirus resurgence, 5 stocks that now make up 22% of the S&amp;P 500, the precedent set by the Federal Reserve's pandemic response, and the growing interest in ESG investing. In the second half of the show, Josh talks with Jannick Malling, co-Founder and co-CEO of Public, about the measures his social investing app has taken to protect and educate young investors.<br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>On the new edition of What Are Your Thoughts with Michael Batnick and Josh Brown:&nbsp;</p><p>- Bubble behavior in a market crisis is nothing new or unusual.&nbsp;</p><p>- Fidelity says 18% of investors sold out of all their stocks during the last few months, and a third of investors over 65 years old!&nbsp;</p><p>- With the Fed buying the investment grade bonds of Apple and Microsoft, do its critics have a point?&nbsp;</p><p>- What did we learn from this crisis?&nbsp;</p><p>- Eating at restaurants again - weird but satisfying.&nbsp;</p><p>- Does Michael watch movies just to torture himself? Plus, why Josh likes westerns.&nbsp;</p><p>- Apple's App Store facilitated over half a trillion dollars in commerce last year!&nbsp;</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><strong>A Degenerate Gambler Walks Into a Stock Exchange... What Are Your Thoughts?</strong></p><p>On an all-new What Are Your Thoughts - Michael Batnick and Downtown Josh Brown discuss the biggest topics in finance this week, including:</p><br><p>- What should we make of massive one-day rallies in the stock market?&nbsp;</p><p>- What if the stock market is doing a better job of tracking the real economy than we think?&nbsp;</p><p>- Which is more dangerous for a degenerate gambler - legal sports betting or discovering the stock market?&nbsp;</p><p>- How will restaurants and bars conform to the new health challenge and make a comeback?&nbsp;</p><p>- What's one thing you've changed your mind about since the crisis began?&nbsp;</p><p>- How come people seem to begin investing as bulls and then get bearish when they're older?&nbsp;</p><br><p><strong>Ten Rules for Retirement Investing</strong></p><p>Josh here - my colleague Anthony Isola put together this list of ten rules for retirement. Tony spends a lot of his time giving advice to people who aren't typically savvy about investing or finance in general. Many of his clients are teachers but these rules are truly universal.</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p>Josh Brown and Michael Batnick discuss the recent rash of commentary about the "Death of Value Investing," a discipline that has already died a thousand deaths before and yet is continually resurrected. Michael points out that growth investing is currently on a 30-year win streak versus value investing, while the distance between cheap stocks and expensive stocks has never been more stretched. Josh's take is that the idea of buying an asset for less than it's worth is immortal, but the inputs we base these decisions on might need to change. Perhaps it's not a problem with the concept, but with the measurements.&nbsp;</p><br><p>You can find more of Michael's thoughts and charts on the topic at his post below: <a href="https://theirrelevantinvestor.com/2020/05/12/the-case-against-value-investing/" rel="noopener noreferrer" target="_blank">https://theirrelevantinvestor.com/2020/05/12/the-case-against-value-investing/</a>&nbsp;</p><br><p>You can find Josh's written rant on value investing here: <a href="https://thereformedbroker.com/2020/05/12/value-investing-is-immortal/" rel="noopener noreferrer" target="_blank">https://thereformedbroker.com/2020/05/12/value-investing-is-immortal/</a></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><strong>Unlimited Economic Stimulus: What Are Your Thoughts?</strong></p><p>Join Michael Batnick and Downtown Josh Brown for another all-new edition of What Are Your Thoughts? as they discuss:&nbsp;</p><p>- US stocks just had their best monthly performance in 30 years&nbsp;</p><p>- what was the catalyst?&nbsp;</p><p>- Has Warren Buffett's magic touch faded away? Why Berkshire's annual shareholder "meeting" was so underwhelming.&nbsp;</p><p>- Josh got the antibody test. Why wouldn't everyone? Maybe because it doesn't mean anything.&nbsp;</p><p>- Is there any limit to how much money the Fed and Treasury can throw at the economy? Do we have any choice?&nbsp;</p><p>- Michael Jordan talked about the downside of fame in this week's 'The Last Dance' - the press tears our idols down on Wall Street too.&nbsp;</p><br><p><strong>The Yield Curve Indicator is UNDEFEATED</strong></p><p>Josh here - Okay, so now we're officially in recession. What happens next? How long will this go on for?&nbsp;</p><br><p>Last fall we had Professor Campbell Harvey, partner and senior advisor to Research Affiliates, on The Compound to discuss the inverted yield curve, an economic indicator he had discovered in the 1980's. Cam explained that this indicator - when Treasury interest rates on shorter-term bonds rise above those being paid on longer-dated bonds - has been successful at predicting recessions 7 out of 7 times with zero false signals along the way. This recession means it's now 8 for 8!&nbsp;</p><br><p>Join us for a discussion about the way the signal should be thought about now with the Fed's overnight rate back at zero. We also discuss whether or not the economy is bottoming, what has to happen for the recession to end, and why this environment is like nothing we've ever seen before in history.</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><br></p><p>Episode starts with Josh asing his friend Jeff Macke to pop on and tell us about what's happening with America's largest retailers, and how the coronavirus ended up being both a challenge and an opportunity for them. Jeff is an expert in all things big box retailing and ecommerce, He's also hilarious and one of the nicest guys I know. Hope you enjoy and learn some stuff from this!</p><br><p>Later, Michael Batnick talks with Logan Mohtashami, columnist for HousingWire, about where the housing market was prior to COVID-19, how quickly the market reacted, and what it will look like when the economy reopens.</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

<p><strong>Why Credit Card Losses Could Explode: What Are Your Thoughts?</strong></p><br><p>On an all new What Are Your Thoughts, Josh Brown and Michael Batnick tackle all the biggest topics of the moment.</p><br><p>In this edition:</p><p>* Five US stocks are now bigger than the entire developed world's stock markets combined, how can this be?</p><p>* What are the investor takeaways from the massive crash in oil prices?</p><p>* Did an oil ETF popular with retail traders contribute to negative oil prices this week?</p><p>* Are people more comfortable about ordering in food as a break from cooking at home now?</p><p>* How long would you stay in your home, no matter what the government says?</p><p>* Watching old NBA games</p><p>* Reactions to ESPN's The Last Dance</p><br><p><br></p><p><strong>What Does The Fed Actually Do?</strong></p><br><p>Michael Batnick talks with Cullen Roche about what the federal reserve actually does, what their critics get right, and how their actions today compare with what they did during the Great Financial Crisis.</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>