September 2019

Crossing Wall Street With Eddy

Eddy Elfenbein is on my Mount Rushmore of funny people on Twitter. He also happens to have a depth of knowledge of financial history that few others possess. I had a lot of fun chatting with him and Josh yesterday about what a Trump impeachment might mean for the market. Spoiler, ¯\_(ツ)_/¯ Click to subscribe…

Re-examining Worldly Wisdom

“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” This is usually true. Sometimes. Kind of.

QE-Distorted Markets

J.P. Morgan put together a post detailing why it’s been so hard for active investors to beat their benchmarks. There were charts. Lots of charts.

Animal Spirits: Stockpiling Cash

On this week’s show we discuss Airbnb’s need to IPO, WeWork’s latest PR nightmare, rich people raising cash, why now is one of the hardest investing environments ever, do interest rates impact private markets, Disney Plus, why no one will ever buy Twitter, YouTube influencers, Jim Grant and much more.

The Next Recession

The drumbeat of recession calls grows louder every day. One of the biggest drivers of this is simply due to how long it’s been since the economy experienced a setback. We are in the 41st quarter of the current economic expansion. What’s notable about this period, aside from the duration, is also how modest growth…

Animal Spirits Talk Your Book: Investing in Private Companies with EquityZen

Today’s Animal Spirits Talk Your Book is brought to you by EquityZen. EquityZen is giving Animal Spirits listeners half off their first investment minimum by going to equityzen.com/animal – usually a $20K min – we’re giving you $10K min On today’s show, we discuss: The Global Unicorn Club Super Pumped Making Private Public Listen here:

Searching For Bobby Shiller

Ben and I are doing this new thing for Animal Spirits where we post a couple of show highlights on YouTube. Check out the first one below. Subscribe to the channel so you never miss an update.