Ben Carlson

speaker

1,555 appearances 4 recordings 4 series first heard Apr 2026 last heard 11 Jun

Ben Carlson’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Jun 2026 with 2.

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The Rational Reminder Podcast · Ben Carlson: Investing at All-Time Highs | #412 · 4 Jun 2026 podcast

There's these wide swings, right?

You have these huge up days and huge down days.

Where in bull markets, it's more like a smaller stair-step approach.

And that's because when people lose money, they tend to panic.

It just brings all these different feelings.

I talk about in the book, how they've done studies where they show that people who lose...

money and their finances can like relive those feelings and thoughts in their dreams you have nightmares about losing money it's something that can like have a visceral impact on your body dealing with losses is the most important thing as an investor because it's going to play head games with you we talked earlier about the 1929 market crash you said it was an 85 drop which is crazy but not that many people actually invested can you talk more about how bad the economic side was

That I think was probably even worse for people.

It wasn't just that it was a really nasty recession and unemployment rate got like 20, 25%, but it lasted a really long, like basically the entire 30s.

By 1937, the unemployment rate was still

20%.

It wasn't really until World War II that things kind of improved.

GDP in the Great Depression, it contracted like 30%.

Corporate profits fell by 70%, which is just unfathomable to think about.

You talked a little about fixed rate mortgages.

One of the reasons fixed rate mortgages became a thing, that wasn't a thing before the Great Depression.

And I think something like 40% or 50% of all US households defaulted on their loans.

They're saying like, we can't let this many people lose their houses.

So we have to extend the life of their mortgage.

So it

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