Animal Spirits Podcast

Talk Your Book: The Madness of crowds

12 Feb 2021

Contributed by Lukas

On today's show, the guys talk to Daniel Crosby, PhD, the Chief Behavioral Officer of Orion Advisor Solutions about some of the craziest few weeks in ...

Money Tree (EP.190)

10 Feb 2021

Contributed by Lukas

On this week's episode we discuss Elon Musk becoming the new Warren Buffett, companies putting bitcoin on their balance sheet, the Mount Rushmore of C...

Talk Your Book: Commission-Free Insurance

05 Feb 2021

Contributed by Lukas

On today's show, the guys talk with David Lau from DPL Financial Partners about how they're improving the insurance sales for advisors and their clien...

The Big Squeeze (EP.189)

03 Feb 2021

Contributed by Lukas

On this week's show we talk about all things GameStop, Robinhood, short-sellers, when markets become a pop culture phenomenon, why people are so angry...

It's Very Different This Time (EP.188)

27 Jan 2021

Contributed by Lukas

On today's show we talk about the wild moves in Gamestop, why this is now a young person's market, why the SEC is probably going to come calling for s...

Talk Your Book: Investing in Fixed Income

22 Jan 2021

Contributed by Lukas

On today's show, Michael and Ben talk with Gibson Smith of Smith Capital Investors about how the structure of the fixed income market has evolved over...

Micro Bubbles (EP.187)

20 Jan 2021

Contributed by Lukas

On today's show we discuss why index funds will never cause a bubble, how day traders are evolving, the best-performing stocks of 2020, penny stock ma...

Tesla is the Next Tesla (EP.186)

13 Jan 2021

Contributed by Lukas

On this week's show we discuss the outsized role tech companies play in our democracy, why aggression is highly contagious, why the stock market is cr...

Should I Use a Roth or a Traditional IRA?

11 Jan 2021

Contributed by Lukas

On today's show, we talk with Bill Sweet about the different options investors should consider when thinking about what type of vehicle they should u...

Talk Your Book: 2021 Outlook

08 Jan 2021

Contributed by Lukas

On today's Talk Your Book, we speak with Matthew Bartolini about options for diversified investors going forward, how to think about volatility in fix...

Inflation Truthers (EP.185)

06 Jan 2021

Contributed by Lukas

On this week's show we discuss why inflation isn't being understated, why the economy is so difficult to understand, why growth is outperforming value...

The Best of 2020

01 Jan 2021

Contributed by Lukas

On today's last show of the year, we look back at the biggest stories from 2020 as well as our favorite books, movies and TV shows.   Find complete s...

Everyone Knows Everything (EP.184)

30 Dec 2020

Contributed by Lukas

On this week's show we discuss the luck of the draw in the economy this year, our new fantasy trading game, pockets of froth in the markets, Tesla spe...

Talk Your Book: Momentum Investing With Joe Terranova

25 Dec 2020

Contributed by Lukas

On today's show, Michael and Ben talk with Joe Terranova of Investment Partners about the lessons from 2020, and the launch of his new investment ETF....

Never Stop Buying Lottery Tickets (EP.183)

23 Dec 2020

Contributed by Lukas

On this week's show we discuss the new stimulus bill, why the stock market isn't always this easy, Tesla investors who made a boatload of money, Robin...

How to Start Your Financial Life (EP.182)

18 Dec 2020

Contributed by Lukas

On today's show we discuss financial topics for young people including how much you should spend on an engagement ring, how to talk about money with y...

IPO Mania (EP.181)

16 Dec 2020

Contributed by Lukas

On this week's show we discuss the Airbnb and DoorDash IPOs, similarities and differences between now and the 1990s dot-com boom, why IPOs rise so muc...

Talk Your Book: ESG Investing

11 Dec 2020

Contributed by Lukas

On today's show, Michael and Ben talk with Brie Williams of State Street Global Advisors about the momentum behind ESG investing.    Find complete s...

How America Invests (EP.180)

09 Dec 2020

Contributed by Lukas

On today's show we discuss AT&T vs. Verizon, why we could see the highest CAPE ratio ever, the end of movie theaters, why selling is the hardest part ...

Blog Post: How Ben Invests His Money

07 Dec 2020

Contributed by Lukas

Inspired by the new book, How I Invest My Money, Ben shares how he manages his own money. Learn more about your ad choices. Visit megaphone.fm/adchoic...

Book Excerpt: The 20 Rules of Personal Finance

05 Dec 2020

Contributed by Lukas

Ben reads a chapter from his new book, Everything You Need to Know About Saving For Retirement. Learn more about your ad choices. Visit megaphone.fm/a...

Talk Your Book: The Structured Marketplace

04 Dec 2020

Contributed by Lukas

On today's show we talked with Jason Barsema, co-founder and CEO of Halo Investing, an online marketplace for structured products, annuities, and buff...

Raising the Minimum Wage (EP.179)

02 Dec 2020

Contributed by Lukas

On this wee's show we discuss bitcoin vs. gold, billionaires and the minimum wage, there is no perfect number for your savings goals, the downside of ...

Blog Post: Is Robinhood Good For Investors?

30 Nov 2020

Contributed by Lukas

A few weeks ago on a Zoom conference call, Michael was asked "Is Robinhood good for investors?" In this episode, Michael shares how this question cau...

Is Bitcoin the New Gold (EP.178)

25 Nov 2020

Contributed by Lukas

On this week's show we talk about the bitcoin bull market, the generational wealth gap, who owes all the student loan debt, why poor people still buy ...

Talk Your Book: Direct Indexing

20 Nov 2020

Contributed by Lukas

On today's show, Michael and Ben talk with Rusty Vanneman, Chief Investment Officer at Orion Advisor Solutions about all things related to direct inde...

Cancel All the Debt (EP.177)

18 Nov 2020

Contributed by Lukas

On this week's show we discuss vaccine Mondays, why the market doesn't care about increasing cases, what's the best age to die, making emergency funds...

Blog Post: How Much is $20 a Month Worth?

16 Nov 2020

Contributed by Lukas

Ben looks at one of the hardest problems for most people when it comes to building wealth -- regularly saving money and shows why $20/month could be w...

BLOG POST: How I Invest My Money

14 Nov 2020

Contributed by Lukas

Ben and I are trying something new. Once or twice a week we're going to read a blog post and drop it in Animal Spirits. If you like it, we'll keep go...

Talk Your Book: But What Happens Tomorrow?

13 Nov 2020

Contributed by Lukas

On today's show we talk with Michael Arone, Chief Investment Strategist at State Street Global advisors about how elections impact the market, and why...

The Vaccine (EP.176)

11 Nov 2020

Contributed by Lukas

On this week's show we discuss what a vaccine would mean for the markets and economy, why a post-pandemic market will be so difficult to handicap, the...

Trading the Election (EP.175)

04 Nov 2020

Contributed by Lukas

On this week's show we discuss how to think about your portfolio in relation to the presidential election, how markets tend to react during the post-e...

Talk Your Book: Stacker ETFs

30 Oct 2020

Contributed by Lukas

On today's Talk Your Book we welcomed back Bruce Bond from Innovator Capital Management to talk about the new Stacker ETFs. Find complete shownotes ...

The Worst Chart in Finance (EP.174)

28 Oct 2020

Contributed by Lukas

On this week's show we discuss why the price of oil is losing its luster as a macro indicator, who owns the stock market, the rise of new investment c...

Talk Your Book: Is the Fed too entrenched?

23 Oct 2020

Contributed by Lukas

On today's Talk Your Book, Michael and Ben speak with Marvin Loh of State Street Global Markets about all things related to interest rates, the federa...

Bad Ideas (EP.173)

21 Oct 2020

Contributed by Lukas

On this week's show we discuss why baby boomers are selling out of stocks, the 4% rule, the newest star fund manager, why FICO scores are rising this ...

Talk Your Book: What's In an Index?

16 Oct 2020

Contributed by Lukas

On this edition of Talk Your Book we spoke with Laurence Black, founder of The Index Standard about how to pick the right products, ETFs and indices f...

Bearish the Whole Way Up (EP.172)

14 Oct 2020

Contributed by Lukas

On this week's show we discuss why it's impossible to invest based on the outcome of the election, how the market's reaction evolves over time, the co...

Talk Your Book: Protecting the Tails

09 Oct 2020

Contributed by Lukas

On this edition of Talk Your Book we sat down with Simplify Asset Management's Paul Kim to discuss how investors can protect their portfolios from bo...

Living Through History (EP.171)

07 Oct 2020

Contributed by Lukas

On this week's show we discuss how crazy it is to live through a period of time that will go down in the history books, why this recession has been de...

A Random Talk with Burton Malkiel

02 Oct 2020

Contributed by Lukas

On today's show we sat down with Burton Malkiel, author of the classic book A Random Walk Down Wall Street.   Find complete shownotes on our blogs......

Worst Recession Ever (EP.170)

30 Sep 2020

Contributed by Lukas

On this week's show we discuss some bright spots from the pandemic, the massive real estate boom, the housing shortage, more diversity in the stock ma...

Talk Your Book: Investing in Gold

25 Sep 2020

Contributed by Lukas

On today's show we spoke with George Milling-Stanley, Chief Gold Strategist at SSGA about all things related to investing in Gold. Find complete show...

It's Hard Being Rich (EP.169)

23 Sep 2020

Contributed by Lukas

On this week's show we discuss a minor correction in the stock market, why the upper middle class has so much debt, why fame and wealth don't always l...

Everything You Need to Know About Retirement (EP.168)

18 Sep 2020

Contributed by Lukas

On this show we do a deep dive on everything retirement-related including how much you need to save, how much is enough, what happens when you get a l...

Upside Down Markets (EP.167)

16 Sep 2020

Contributed by Lukas

On this week's show we discuss some work from home backlash, parents vs. single people in the office, where inflation comes from, the new fiscal polic...

Democracy Has Failed (EP.166)

09 Sep 2020

Contributed by Lukas

On this week's show we discuss why tech stocks are finally selling off, why the best companies have to crash, stopping a depression in its tracks, the...

The Economics of Parenting (EP.165)

04 Sep 2020

Contributed by Lukas

On this episode we discuss the finances of parenting from what you need to buy, how to prepare yourself financially and emotionally, the cost of dayca...

Asset Price Hyperinflation (EP.164)

02 Sep 2020

Contributed by Lukas

On this week's show we discuss modern market cap theory, the continued move higher in Tesla shares, the Fed's new inflation mandate, millennials are f...

Talk Your Book: Sectors & The Business Cycle

28 Aug 2020

Contributed by Lukas

On today's Talk Your Book we sat down with State Street's Matt Bartolini to discuss investing in different sectors of the stock market and what these ...

Trickle Up Economics (EP.163)

26 Aug 2020

Contributed by Lukas

On this week's show we discuss the potential for a spending boom when the pandemic is over, what happens to all of the government debt we're racking u...

How to Spend Your Money (EP.162)

21 Aug 2020

Contributed by Lukas

On this episode, we do a deep dive on budgeting, conscious spending, classflation, the two types of budgets, how to plan for infrequent expenses, how ...

The Four Most Dangerous Words (EP.161)

19 Aug 2020

Contributed by Lukas

On this week's show we discuss the speed of bear market recoveries, signs of inflation, the hardest problem in finance right now, which stocks day tra...

The Smart Money (EP.160)

12 Aug 2020

Contributed by Lukas

On this week's show we discuss what low bond yields may be telling us, why the stock market is smarter than people give it credit for, the rise of inv...

The Economics of Homeownership (EP.159)

07 Aug 2020

Contributed by Lukas

On today's show we talk about one of the most important topics in personal finance, home ownership. Michael and Ben discuss renting versus buying, ho...

S&P 5 (EP.158)

05 Aug 2020

Contributed by Lukas

On this week's show we discuss tech stock monopolies, Microsoft potentially buying TikTok, why more people are buying houses, what to do if your frien...

Fixed Income Investing in a Low Rate World

31 Jul 2020

Contributed by Lukas

On this edition of Talk Your Book we discuss the challenges of investing in a bond market will generationally low interest rates with Marvin Loh from ...

The Golden Age of Fraud (EP.157)

29 Jul 2020

Contributed by Lukas

On this week's show we discuss why market cycles are happening in record time, parallels to the 1990s, speculative frenzy, anecdotal stock market sign...

10,000 Day Traders (EP.156)

22 Jul 2020

Contributed by Lukas

On this week's show we discuss new all-time lows in mortgage rates, why this is no normal recession, hopes and questions for a vaccine, Betterment vs....

This is a Bubble (EP.155)

15 Jul 2020

Contributed by Lukas

On this week's show we discuss the bubble behavior in Tesla, Elon Musk becoming richer than Warren Buffett, Robert De Niro is going broke, simple com...

The Future of Education (EP.154)

08 Jul 2020

Contributed by Lukas

On this weeks show we discuss the two types of investing mistakes, hangovers and sunburns, when markets actually make sense, migration out of big citi...

Existential Hurricane (EP.153)

01 Jul 2020

Contributed by Lukas

On this week's show we discuss growing worries about the economy, a double-dip depression, why the Fed may have to backstop the banks, shorting commer...

Inflation Ahead (EP.152)

24 Jun 2020

Contributed by Lukas

On this week's show we discuss Jeremy Siegel's inflationary scenario for the market, why it's time to stop complaining about the Fed, why poverty in t...

Talk Your Book: Advisor Solutions with Helios

19 Jun 2020

Contributed by Lukas

On today's show we talk with Chris Shuba, founder and CEO of Helios Quantitative Research. Helios partners with financial advisors to create a unique ...

The Opposite of a Falling Knife (EP.151)

17 Jun 2020

Contributed by Lukas

On this week's show we discuss who is driving market prices right now, Robinhood's PR dream, the Hertz bankruptcy story, Dave Portnoy's day-trading es...

Stock Market Euphoria (EP.150)

10 Jun 2020

Contributed by Lukas

On this week's show we discuss the insane move in the stock market from the lows, the surprising unemployment numbers, underestimating the Fed, going ...

Talk Your Book: How to Make Better Financial Decisions with Daniel Crosby

05 Jun 2020

Contributed by Lukas

On this Talk Your Book we chat with Daniel Crosby about behavioral psychology, why we're not wired to manage money, how to improve your financial deci...

The Unluckiest Generation (EP.149)

03 Jun 2020

Contributed by Lukas

On this week's show we discuss the saddest week in a long time, post-traumatic growth, 2020 vs. 1968, why working from home is a privilege, inequality...

Valuations Don't Matter (EP.148)

27 May 2020

Contributed by Lukas

We discuss why Zoom is worth more than the 5 biggest U.S. airlines, how many of the pandemic stocks are here for good, Spotify taking over the podcast...

Talk Your Book: Investing in Corporate Real Estate

22 May 2020

Contributed by Lukas

On today's show we talk about all things related to corporate real estate in the United States. How has it been affected by COVID-19, what does the fu...

Is the Stock Market Wrong? (EP.147)

20 May 2020

Contributed by Lukas

We discuss what a potential vaccine means for stock market, we could see a bubble after this, retail bankruptcies, the food delivery business, why the...

Too Young, Too Dumb and Too Inexperienced (EP.146)

15 May 2020

Contributed by Lukas

We discuss inequality among corporations, differences in the unemployed by education, the best new restaurant in the country just went out of business...

Fallen Angels (EP.145)

13 May 2020

Contributed by Lukas

We discuss why stocks aren't doing better in countries with a better virus response, why portfolio managers hate the Fed, how are the airlines going t...

Whatever It Takes Squared (EP.144)

06 May 2020

Contributed by Lukas

On this week's show we discuss Warren Buffett's annual meeting, why Berkshire didn't buy anything, crisis buzzwords, the death of commodities, retaile...

A Noob Whale Picker's Market (EP.143)

01 May 2020

Contributed by Lukas

We discuss how hard it is to outperform the market, why investors need to be more open-minded, how the crisis will impact millennial home-buying, how ...

Capitalism As We Know It (EP.142)

29 Apr 2020

Contributed by Lukas

We discuss why credit card payments will be the first thing to go for people with financial problems, why so many people prefer real estate as an inve...

Physical Delivery (EP.141)

24 Apr 2020

Contributed by Lukas

We discuss why the stock market isn't falling more, craziness in the oil market, why "normal" portfolios may be performing better during the crisis, t...

Free Oil (EP.140)

22 Apr 2020

Contributed by Lukas

We discuss fairness in the bailout process, why no one believes in this market, why it's been so difficult to outperform the market during this bear, ...

The Second Wave (EP.139)

17 Apr 2020

Contributed by Lukas

We discuss the path to normalcy, why the economy is going to be operating at partial capacity for some time, when people will begin flying again, why ...

Mountains of Debt (EP.138)

15 Apr 2020

Contributed by Lukas

On this week's show we discuss the pandemic's impact on Disney, when people will be willing to go to large events in the future, private equity compan...

The Fed's Bazooka (EP.137)

10 Apr 2020

Contributed by Lukas

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 ...

Some Good News (EP.136)

08 Apr 2020

Contributed by Lukas

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 ...

The Great Unwind (EP.135)

03 Apr 2020

Contributed by Lukas

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...

The Dead Cat Bounce? (EP.134)

01 Apr 2020

Contributed by Lukas

On this week's show we discuss avoiding politics during a crisis, unintended consequences from the shutdown, the spike in national debt, why economics...

The Historic Surge in Unemployment (EP.133)

27 Mar 2020

Contributed by Lukas

On this new episode we discuss the awful unemployment numbers, the new fiscal stimulus bill, restaurants in trouble, other businesses impacted, what h...

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

25 Mar 2020

Contributed by Lukas

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 ge...

Bailing Out Main Street (EP.131)

20 Mar 2020

Contributed by Lukas

On today's episode, we discuss the number of businesses impacted by the coronavirus shutdown, the potential fiscal stimulus plan, why interest rates a...

Is this worse than 2008? (EP.130)

18 Mar 2020

Contributed by Lukas

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 h...

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

16 Mar 2020

Contributed by Lukas

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 complet...

Emergency Podcast: Preparing for a Recession

12 Mar 2020

Contributed by Lukas

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 pan...

Oil's 1987 Moment (EP.129)

11 Mar 2020

Contributed by Lukas

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 ...

A Random Watch Down Wall Street: The Founder

09 Mar 2020

Contributed by Lukas

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 ...

The Emergency Rate Cut (EP.128)

04 Mar 2020

Contributed by Lukas

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...

Talk Your Book: Investing in Commodities

02 Mar 2020

Contributed by Lukas

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 com...

Michael's Worst Investment Ever (EP.127)

26 Feb 2020

Contributed by Lukas

On this week's episode, we discuss the impact of the coronavirus, ramifications of the asset management mergers because of commission-free trading, wh...

What Makes People Happier Than Money (EP.126)

19 Feb 2020

Contributed by Lukas

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...

A Random Watch Down Wall Street: Margin Call

17 Feb 2020

Contributed by Lukas

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 perspe...

Everybody's Trading (EP.125)

12 Feb 2020

Contributed by Lukas

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 in...

Talk Your Book: How To Create Income in Your Portfolio

10 Feb 2020

Contributed by Lukas

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 s...

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

05 Feb 2020

Contributed by Lukas

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...