Animal Spirits: Big Mistakes

On this week’s Animal Spirits, we discuss:

My book, Big Mistakes

Why and how value and momentum investing work. 

Mary Meeker’s internet trends

Amazon dot toast

A hedge fund blow up

A Bill Gross hiccup

Listen below

Charts mentioned




Big Mistakes: the Best Investors and Their Worst Investments

The Space Barons: Elon Musk, Jeff Bezos, and the Quest to Colonize the Cosmos

I said I think Andy Samberg is funny. And I do, but the truth is I was drawing from this one moment in time. I don’t think I’ve seen any of his movies.


Mark Twain

“It is strange the way the ignorant and inexperienced so often and so undeservedly succeed when the informed and the experienced fail.”

Chasing the Last Laugh: How Mark Twain Escaped Debt and Disgrace with a Round-the-World Comedy Tour

Ignorance, Confidence, and Filthy Rich Friends: The Business Adventures of Mark Twain, Chronic Speculator and Entrepreneur

The True Flag: Theodore Roosevelt, Mark Twain, and the Birth of American Empire