Today’s Animal Spirits is brought to you by Interactive Brokers. Check out Portfolio Analyst here

On today’s show we discuss:
- Older Americans are slowly selling the stock market
- America is having a moral convulsion
- A value investor calling it quits
- Howard Marks memo
- Corey Hoffstein’s latest is must read
- Companies are borrowing a lot of money
- The 4% rule
- Ark’s bad ideas
- Credit scores are going…up?
- A dose of optimism
- A surge in cases
Listen here:
Recommendations:
- Michael Kitces and Bill Bengen
- These Truths
- The Departed
- The Boys
- Meb, Jeremy and Jesper talking Japan
- Bill Simmons with the creator of Shit House
Charts:





Tweets:
This may be one of the greatest finance commercials ever.@ARKInvest calling it how they see it 🔥 pic.twitter.com/Ekr38gELpR
— Pomp 🌪 (@APompliano) October 17, 2020
MRREAM (Mean Reversion Rules Everything Around Me) pic.twitter.com/oVJ2JhtY6o
— Ben Johnson, CFA (@MstarETFUS) October 16, 2020
Total business applications in Q3 rocketed upwards by 1.57 million, a record increase.
Read more in tonight's Closer: https://t.co/Rbvpr13UFg pic.twitter.com/HxuKLzh9p8— Bespoke (@bespokeinvest) October 14, 2020
How are Americans coping? Well, let's see how sales are doing at beer, wine and liquor stores. pic.twitter.com/YaAmdAWNoz
— Eddy Elfenbein (@EddyElfenbein) October 16, 2020
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