Animal Spirits Podcast

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/

Recent Episodes

July 23, 2025

What is Upper Middle Class? (EP. 422)

On episode 422 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss: why stock market returns can't be 15% per year forever, putting the Mag 7 into context, small caps are cheap, ...
July 21, 2025

Talk Your Book: How We Got a Bitcoin ETF

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Dave LaValle, Senior Managing Director, Global Head of ETFs at Grayscale Investm...
July 16, 2025

There Are Too Many Rich People (EP. 421)

On episode 421 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss a nervous stock market rally, U.S. corporate exceptionalism, how the stock market bottoms, the worst decade ever fo...
July 14, 2025

Talk Your Book: Option Income Is So Hot Right Now

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Garrett Paolella, Co-Founder and Managing Partner of NEOS Investments to discuss los...
July 12, 2025

I Want To Be An Advisor, What Do I Do?

On this special episode of Animal Spirits at the Morningstar Investment Conference in Chicago, ⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠ discuss best practices on starting a career in the modern world of fin...
July 9, 2025

A 25 Year Bull Market (EP. 420)

On episode 420 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠ discuss faster recoveries in the stock market, the potential for an even longer bull market, pros and cons of deregulation, zoo...
July 7, 2025

Talk Your Book: Autocallable Income

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Matt Kaufman, Senior Vice President and Head of ETFs at Calamos to discuss the Calamos A...
July 5, 2025

Talk Your Book: How Public’s Winning the Great Wealth Transfer

On this episode of Animal Spirits: Talk Your Book, ⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ and ⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ are joined by Leif Abraham, Co-Founder and Co-CEO of Public to discuss updates in fintech, the brokera...
July 2, 2025

The Top 10 Risks to the Stock Market (EP. 419)

On episode 419 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠ discuss recession hypotheticals, all-time highs in the stock market, the death of the permabear, international outperformance, a cr...

About the Hosts

Ben Carlson Profile Photo

Ben Carlson

co-host

Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management. He is the co-host of Animal Spirits & Ask The Compound. He is the author of four books, a columnist for Fortune, and the creator of the blog A Wealth of Common Sense.

Michael Batnick Profile Photo

Michael Batnick

co-host

Michael Batnick is a managing partner at Ritholtz Wealth Management. He is the co-host of Animal Spirits, What Are Your Thoughts?, and The Compound & Friends. He is also the author of The Irrelevant Investor Blog.

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