Episodes
Feb. 7, 2024
The Holy Grail of Investing (EP.346)
On episode 346 of Animal Spirits, Michael Batnick and Ben Carlson discuss: concentration risk in the US stock market, economic dominance from the United States, when the Fed will cut rates, competing takes on the Apple Visio…
Feb. 5, 2024
Talk Your Book: Investing in Infrastructure
On today's show, Ben Carlson and Michael Batnick are joined again by Bob Long, CEO of StepStone to discuss: - What investments StepStone is making within Infrastructure - How liquidity works with infrastructure investments -…
Jan. 31, 2024
Gen Z Is on Fire (EP.345)
On episode 345 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the types of people you see on every flight in America, why new highs in the stock market are perfectly normal, why the Fed should cut rates even in …
Jan. 29, 2024
Talk Your Book: What's Going on in the Bond Market?
On this episode of Talk Your Book, Michael Batnick and Ben Carlson are joined by Alex Morris, CIO of F/m Investments to discuss: 2024 rate cut possibilities, the difficulty of forecasting, and why everyone got 2023 so wrong,…
Jan. 24, 2024
New All-Time Highs! (EP.344)
On episode 344 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the average length of bull and bear markets, what's up with small cap stocks, $8.8 trillion in cash, no show China, the vibecession is over, the soft…
Jan. 22, 2024
Talk Your Book: Live at FARMCON
On this episode, Michael Batnick and Ben Carlson are live at FARMCON to discuss: the macro economy and inflation in 2023 and 2024, commodity trading with legendary trader Andy Daniels, how behavioral finance affects investme…
Jan. 17, 2024
The Cash-Returning Machine
On episode 343 of Animal Spirits, Michael Batnick and Ben Carlson discuss: setting return expectations moving forward, US Large Cap stocks generating a ton of cash, a bear market in used cars, an update on Bitcoin ETFs, Grea…
Jan. 15, 2024
Talk Your Book: Building Portfolios with AI
On this episode, Michael Batnick and Ben Carlson are joined again by Chris Shuba, Founder and CEO of Helios Quantitative Research to discuss: the experience of a diversified investor in 2023, utilizing AI to build portfolios…
Jan. 10, 2024
The Fee War Comes to Crypto (EP.342)
On today's show we discuss the biggest winners and losers of 2023 in the markets, short-term vs. long-term returns for stocks, why the U.S. dominates financial markets, the problem with being right once in a row, Bitcoin ETF…
Jan. 8, 2024
Talk Your Book: Reliable Monthly Payouts to Age 100
On today's show, Michael Batnick and Ben Carlson are joined by Nate Conrad, Head of LifeX to discuss: how LifeX can earn higher yields than US Treasuries, how payouts differ depending on investor age, utilizing the LifeX inc…
Jan. 3, 2024
2024 Predictions (EP.341)
On today's show we discuss 2023 market performance, a bunch of 2024 predictions, our favorite historical stock market return series, the high quality of restaurants, paying off your mortgage early, the downsides of behaviora…
Dec. 27, 2023
What Will Perform Best in 2024? (EP.340)
On episode 340 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Christmas arguments, green shoots in prices, 1940s vs. 1970s inflation, why we're not worried about index funds, how to save & invest in middle age, …
Dec. 25, 2023
Talk Your Book: International Growth Investing
On this episode, Michael Batnick and Ben Carlson are joined by Todd Morris, International Growth Portfolio Manager and Analyst for Polen Capital to discuss: reasons for the valuation discrepancies between international stock…
Dec. 20, 2023
The Most Crowded Trade on Wall Street (EP.339)
On episode 339 of Animal Spirits, Michael Batnick and Ben Carlson discuss: mission accomplished from the Fed, what comes after a soft landing, new highs in the stock market, small caps breaking out, the best thing we've buil…
Dec. 18, 2023
Talk Your Book: What Is Private Credit?
On this episode of Talk Your Book, Ben Carlson and Michael Batnick are joined by, Marco Hanig, Managing and Founding Principal of Alternative Fund Advisors and former Principal at AQR to discuss: the basics to Private Credit…
Dec. 13, 2023
Dunking on Doomers (EP.338)
On episode 338 of Animal Spirits, Michael Batnick and Ben Carlson discuss: good news on the economy, why the stock market loves lower inflation, did Elon Musk help kill inflation, getting bullish on consumer sentiment, Netfl…
Dec. 11, 2023
Talk Your Book: The Companies Are Fine
On today's Talk Your Book, Ben Carlson and Michael Batnick are joined by Alex Morris, CIO and President of F/m Investments to discuss: F/m Investments Opportunistic Income ETF, interest rate risk vs. credit risk, market cap …
Dec. 6, 2023
The Ben Carlson Top (EP.337)
On episode 337 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Charlie Munger, how much the Fed really matters, negativity bias in America, the blame game for inflation, why you don't invest based on the headline…
Dec. 4, 2023
Talk Your Book: High Prices Cure High Prices
On today's Talk Your Book, Ben Carlson and Michael Batnick are joined again by Sal Gilbertie, CEO of Teucrium to discuss the golden grain cycle, the cost of production and expected long term returns for commodities, how ever…
Nov. 29, 2023
$525k to be Happy (EP.336)
On episode 336 of Animal Spirits, Michael Batnick and Ben Carlson discuss: why people keep spending so much money, long droughts between new highs in the stock market, the best upside AI hedge, intelligence vs. pessimism, de…
Nov. 27, 2023
Talk Your Book: Strategic Income
On today's show, Michael Batnick and Ben Carlson are joined by Nuveen Portfolio Manager Nick Travaglino about the bond market, the Fed, fixed income yields, and what's goin on with interest rates! Find complete show notes on…
Nov. 22, 2023
You Can't Quantify Happiness
On episode 335 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the blowout year for the Nasdaq 100, how experience shapes investment decisions, transitory inflation arguments, where prices have risen the most, wh…
Nov. 15, 2023
People Love to Complain
On episode 334 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the Fed's victory over inflation, what Americans get wrong about inflation, the price of iPhones is actually going down, when we get the first Fed ra…
Nov. 13, 2023
Talk Your Book: Bitcoin Fundamentals
On today's show, Michael Batnick and Ben Carlson are joined by Chris Kuiper, Director of Research at Fidelity Digital Assets to discuss: fundamental reasons Bitcoin is outperforming in 2023, illiquid Bitcoin values and suppl…