Animal Spirits Podcast
Animal Spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, listening to and watching. Look for new episodes every Wednesday morning. See our disclosures here - https://ritholtzwealth.com/podcast-youtube-disclosures/
651
The World's Worst Investor (EP.111)
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...
37 min
652
CEO Departures (EP.110)
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...
39 min
653
Talk Your Book: Crossing Wall Street with Eddy ...
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...
22 min
654
The Least Happy Age (EP.109)
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...
47 min
655
The Undies Indicator (EP.108)
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,...
44 min
656
Re-Kindled: Malcolm Gladwell (EP.107)
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 Michael Batnick’s Like us on And feel free...
36 min
657
Winners of the Financial Crisis (EP.106)
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,...
40 min
658
Free Trading (EP.105)
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,...
44 min
659
Stockpiling Cash (EP.104)
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...
44 min
660
Michael's Brain Fart (EP.103)
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...
44 min
661
Economically Unattractive (EP.102)
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...
37 min
662
Who Are the Losers? (EP.101)
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...
48 min
663
Best Case Recession (EP.100)
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,...
33 min
664
Re-Kindled: Amusing Ourselves to Death (EP.99)
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 Michael Batnick’s Like us on And feel free to shoot us an email at with any feedback,...
23 min
665
Paycheck to Paycheck (EP.98)
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...
44 min
666
Talk Your Book: Invest like a Hedge Fund with T...
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 for more information. Find complete shownotes on our blogs... Ben Carlson’s Michael...
43 min
667
Business in a Box (EP.97)
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...
41 min
668
The Bankrupt Barber (EP.96)
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...
45 min
669
Re-Kindled: Superforecasting (EP.95)
On this edition of Re-Kindled we discuss Philip Tetlock's masterpiece on prediction, Superforecasting. Find complete shownotes on our blogs... Ben Carlson’s Michael Batnick’s Like us on And feel free to shoot us an email at with any feedback,...
30 min
670
Rush For the Exits (EP.94)
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...
40 min
671
Broke & Overweight (EP.93)
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...
41 min
672
Shielded Alpha (EP.92)
On this week's show we discuss the upside to social media, zombie VC companies, podcasting at , bubbles and career risk, using credit card reward points, where couples meet these days, the contradictory nature of having skin in the game, influencing...
46 min
673
Talk Your Book: Agricultural Commodities
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 Michael Batnick’s ...
40 min
674
The Next Big Short? (EP.91)
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...
36 min
675
Talk Your Book: The Acquirer's Multiple
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 Michael Batnick’s Like us on And feel free to...
34 min