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Animal Spirits Podcast

Michael Batnick and Ben Carlson
Business/Investing, News/Business News, Business
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.

episodes

The Fed's Bazooka (EP.137)

Apr 10, 2020
45 min
We discuss the latest unemployment numbers, the massive help coming from the Fed, why markets are so confusing at the moment, a new theory on forward stock market returns and why investing is so difficult in this environment. Find complete...
Apr 10, 2020 • 45 MIN

Some Good News (EP.136)

Apr 8, 2020
40 min
On this week's show we discuss some good news out of NYC, can this ever be over until we have a vaccine, why this is more like a war than a financial crisis, who is getting hurt the worst from job losses, the 4 rules of pandemic economics, the...
Apr 8, 2020 • 40 MIN

The Great Unwind (EP.135)

Apr 3, 2020
40 min
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...
Apr 3, 2020 • 40 MIN

The Dead Cat Bounce? (EP.134)

Apr 1, 2020
49 min
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...
Apr 1, 2020 • 49 MIN

The Historic Surge in Unemployment (EP.133)

Mar 27, 2020
41 min
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....
Mar 27, 2020 • 41 MIN

The First Thing to Go During a Crisis (EP.132)

Mar 25, 2020
46 min
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...
Mar 25, 2020 • 46 MIN

Bailing Out Main Street (EP.131)

Mar 20, 2020
36 min
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...
Mar 20, 2020 • 36 MIN

Is this worse than 2008? (EP.130)

Mar 18, 2020
47 min
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...
Mar 18, 2020 • 47 MIN

Talk Your Book: Positive and Negative Compounding: Trading Direxion Leveraged ETFs

Mar 16, 2020
29 min
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...
Mar 16, 2020 • 29 MIN

Emergency Podcast: Preparing for a Recession

Mar 12, 2020
24 min
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...
Mar 12, 2020 • 24 MIN

Oil's 1987 Moment (EP.129)

Mar 11, 2020
41 min
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...
Mar 11, 2020 • 41 MIN

A Random Watch Down Wall Street: The Founder

Mar 9, 2020
27 min
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...
Mar 9, 2020 • 27 MIN

The Emergency Rate Cut (EP.128)

Mar 4, 2020
46 min
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...
Mar 4, 2020 • 46 MIN

Talk Your Book: Investing in Commodities

Mar 2, 2020
43 min
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...
Mar 2, 2020 • 43 MIN

Michael's Worst Investment Ever (EP.127)

Feb 26, 2020
51 min
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...
Feb 26, 2020 • 51 MIN

Talk Your Book: Small and Mid Cap Growth Investing

Feb 24, 2020
40 min
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...
Feb 24, 2020 • 40 MIN

What Makes People Happier Than Money (EP.126)

Feb 19, 2020
44 min
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,...
Feb 19, 2020 • 44 MIN

A Random Watch Down Wall Street: Margin Call

Feb 17, 2020
23 min
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...
Feb 17, 2020 • 23 MIN

Everybody's Trading (EP.125)

Feb 12, 2020
46 min
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...
Feb 12, 2020 • 46 MIN

Talk Your Book: How To Create Income in Your Portfolio

Feb 10, 2020
27 min
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...
Feb 10, 2020 • 27 MIN

Do Economies Need to Go Bust? (EP.124)

Feb 5, 2020
45 min
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...
Feb 5, 2020 • 45 MIN

Apocalyptic Thinking (EP.123)

Jan 29, 2020
45 min
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,...
Jan 29, 2020 • 45 MIN

The Short Squeeze (EP.122)

Jan 22, 2020
45 min
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...
Jan 22, 2020 • 45 MIN

The 10 Best Jobs in America (EP.121)

Jan 15, 2020
48 min
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...
Jan 15, 2020 • 48 MIN

Millennials on Communism (EP.120)

Jan 8, 2020
52 min
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 &...
Jan 8, 2020 • 52 MIN

Everybody's Busy (EP.119)

Jan 1, 2020
30 min
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...
Jan 1, 2020 • 30 MIN

The Best Decade in Human History (EP.118)

Dec 25, 2019
41 min
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...
Dec 25, 2019 • 41 MIN