On this week’s Animal Spirits, we discuss:
Why did I say “funding secured”
Are buybacks starving the economy?
And earning-per-share bonuses need to be adjusted for buybacks
The housing crash disproportionately affected the middle class
The CAPE ratio arguments are usually black or white. This one isn’t.
80% chance of a market crash next year
Listen here:
Charts mentioned
Tweets mentioned
S&P 500 since 1990. $1 into $13.70.
Red is when it's above its long-term average CAPE.
"The 12 most dangerous words in investing are, 'The four most dangerous words in investing are 'it's different this time.'" @michaelbatnick pic.twitter.com/iJVGJPD5tm
— Morgan Housel (@morganhousel) August 10, 2018
I’ve got one. Bryan Cranston auditioned. He may have even read at a table read and I said “I don’t think he seems scary enough to seem like a real drug dealer.” If he did PE maybe the Breaking Bad people would have said, “not him, he always plays drug dealers.” https://t.co/YqJE1pr2QH
— Judd Apatow (@JuddApatow) August 7, 2018
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