Animal Spirits Podcast

Animal Spirits is a weekly podcast where I get together with my friend and colleague Ben Carlson to discuss what we’ve been reading, researching, writing, watching, listening to, and thinking about. We talk about all things financial markets, personal finance, our favorite books, movies, and TV shows, dad life, the asset management business and more. Our goal is the make finance more accessible, speak in plain English, and share our own personal experiences in the markets.

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Episode List

Ep. 342- Where to Find Yield on Your Cash (TYB)

Ep. 341- 25 Million New Brokerage Accounts

Ep. 340- Investing in Sustainability (TYB)

Ep. 339- Is the Fed Trapped?

Ep. 338- Options Are Eating the Stock Market (TYB)

Ep. 337- Why The Bull Market Could Last a Lot Longer

Ep. 336- Can Anything Slow Down the Housing Market? (TYB)

Ep. 335- Howard Lindzon Unplugged

Ep. 334- When to Sell a Growth Stock

Ep. 333- Listener Mailbag

Ep. 332- An Extraordinary Decade

Ep. 331- Massive ETF Inflows (TYB)

Ep. 330- Person of the Year

Ep. 329- Investing in Carbon Allowances (TYB)

Ep. 328- The Most Crowded Stocks

Ep. 327- Buying A Picasso (TYB)

Ep. 326- Down With Title Insurance (TYB)

Ep. 325- Housing Prices Are Still Too Low (TYB)

Ep. 324- The DAO of DeFi Index Funds (TYB)

Ep. 323- The High Beta Crash

Ep. 322- Where to Save For Your Down Payment (TYB)

Ep. 321- Everyone Hates Inflation

Ep. 320- Crypto Goes Mainstream (TYB)

Ep. 319- Great Quartr Guys

Ep. 318- Why Annuities Have Higher Yileds Than Bonds (TYB)

Ep. 317- There’s No Crying in Crypto

Ep. 316- Real Time Betting Markets (TYB)

Ep. 315- Hyperinflation, It’s Happening

Ep. 314- How to Use Thematic ETFs (TYB)

Ep. 313- It Wasn’t Transitory

Ep. 312- Finding Growth Stocks Around the Globe

Ep. 311- The 24/7 Stock Market

Ep. 310- Investing in Real Estate Alongside Harvard (TYB)

Ep. 309- Unaffordable Housing 

Ep. 308- Listener Mailbag

Ep. 307-Richer Than Ever

Ep. 306- Accelerating Your Returns (TYB)

Ep. 305- The Next Lehman

Ep. 304- The Fabric of Risk (TYB)

Ep. 303- The Crypto Gateway Drug

Ep. 302- An Alternative to Low Bond Yields

Ep. 301- Interest Rates Are Never Going Up Again

Ep. 300- Insourced CIO (TYB)

Ep. 299- The Big Long 

Ep. 298- Listener Mailbag 

Ep. 297- How to Crush a Job Interview

Ep. 296- Bring Your Own Deal

Ep. 295- Ben Turns 40

Ep. 294-Diamonds Hand with Zac Prince (TYB)

Ep. 293- Did Bitcoin Kill Gold? 

Ep. 292- Investing in Dual Impact ETFs (TYB)

Ep. 291- Emergency Pod: We Were Both Wrong About Robinhood

Ep. 290- The Best Way to Get a Raise

Ep. 289- Investing in Wine (TYB)

Ep. 288- We Love to Spend

Ep. 287- The Netflix of Homebuilders (TYB)

Ep. 286- Prices Only Go Up

Ep. 285- Investing in the Human Factor (TYB)

Ep. 284- High School Reunion

Ep. 283- Quality Growth (TYB)

Ep. 282- $35 Trillion Giveaway

Ep. 281- High-Yield Real Estate (TYB)

Ep. 280- The Wealthiest Generation

Ep. 279- Anti-Carry (TYB)

Ep. 278- Lifestyle Creep

Ep. 277- Investing in Volatility (TYB)

Ep. 276- Fed Apologists

Ep. 275- The State of the Housing Market (TYB)

Ep. 274- Permanent Stimulus 

Ep. 273- The Commodity Supercycle (TYB)

Ep. 272- And Then I Got Scammed

Ep. 271- Listener Mailbag

Ep. 270- The Worst Time To Buy a Home

Ep. 269- The Case for Investing in Farmland

Ep. 268- A Shortage of Everything

Ep. 267- Growth at a Reasonable Price

Ep. 266- Bubbles Are Forever

Ep. 265- Is Art Recession-Proof? (TYB)

Ep. 264- We Should Be in a Bubble

Ep. 263- The Sports Memorabilia Boom (TYB)

Ep. 262- The YOLO Economy

Ep. 261- Why the Real Estate Bull is Just Getting Started (TYB)

Ep. 260- The Dumbest Week Ever

Ep. 259- Crypto Update with Zac Price (TYB)

Ep. 258- A shortage of Workers

Ep. 257- Listener Mailbag

Ep. 256- Housing Bubble 2.0

Ep. 255- The Psychology of Investing in Bitcoin (TYB)

Ep. 254- The Active Management Resurgence 

Ep. 253- Investing in the Gig Economy (TYB)

Ep. 252- An Affordability Crisis

Ep. 251- The Case for Emerging Markets (TYB)

Ep. 250- Super Bullish

Ep. 249- Investing in Freedom (TYB)

Ep. 248- The Recession is Over

Ep. 247- The Most Ambitious ETFs (TYB)

Ep. 246- Investing in Moonshots (TYB)

Ep. 245- The Beanie Baby Bubble

Ep. 244- Listener Mailbag

Ep. 243- Bidding Wars

Ep. 242- The Madness of crowds (TYB)

Ep. 241- Money Tree

Ep. 240- Commission-Free Insurance (TYB)

Ep. 239- The Big Squeeze

Ep. 238- Crypto as an Emerging Store of Value (TYB)

Ep. 237- It’s Very Different This Time

Ep. 236- Investing in Fixed Income (TYB)

Ep. 235- Micro Bubbles

Ep. 234- Investing in Real Estate With Fundrise (TYB)

Ep. 233- Tesla is the Next Tesla

Ep. 232- Should I Use a Roth or a Traditional IRA

Ep. 231- 2021 Outlook (TYB)

Ep. 230- Inflation Truthers

Ep. 229- The Best of 2020

Ep. 228- Everyone Knows Everything

Ep. 227- Momentum Investing With Joe Terranova (TYB)

Ep. 226- Never Stop Buying Lottery Tickets

Ep. 225- How to Start Your Financial Life

Ep. 224- IPO Mania

Ep. 223- ESG Investing (TYB)

Ep, 222- How America Invests 

Ep. 221- The Structured Marketplace (TYB)

Ep. 220- Raising the Minimum Wage

Ep. 219- Investing in Bitcoin (TYB)

Ep. 218- Is Bitcoin the New Gold?

Ep. 217- Direct Indexing (TYB)

Ep. 216- Cancel all the debt

Ep. 215- But What Happens Tomorrow? (TYB)

Ep. 214- The Vaccine

Ep. 213- Farmland for the Modern Investor (TYB)

Ep. 212- Trading the Election

Ep. 211- Stacker ETFs (TYB)

Ep. 210- The Worst Chart in Finance

Ep. 209- Is the Fed Too Entrenched? (TYB)

Ep. 208- Bad Ideas 

Ep. 207- What’s In an Index? (TYB)

Ep. 206- Bearish the Whole Way Up

Ep. 205- Protecting the Tails (TYB)

Ep. 204- Living Through History

Ep. 203- A Random Talk With Burton Malkiel

Ep. 202- Worst Recession Ever

Ep. 201- Investing in Gold (TYB)

Ep. 200- It’s Hard Being Rich 

Ep. 199- Everything You Need to Know About Retirement

Ep. 198- Upside Down Markets

Ep. 197- Democracy Has Failed

Ep. 196- The Economics of Parenting

Ep. 195- Asset Price Hyperinflation

Ep. 194- Sectors and the Business Cycle (Talk Your Book)

Ep. 193- Trickle Up Economics

Ep. 192- How to Spend Your Money

Ep. 191- The Four Most Dangerous Words

Ep. 190- Understanding Opportunity Zones (Talk Your Book)

Ep. 189- The Smart Money

Ep. 188- The Economics of Home Ownership

Ep. 187- S&P 5

Ep. 186- Fixed Income Investing in a Low Rate World

Ep. 185- The Golden Age of Fraud

Ep. 184- Edly ISA’s- Invest in Student Debt (Talk Your Book)

Ep. 183- 10,000 Day Traders

Ep. 182- This is a Bubble

Ep. 181- The Future of Education

Ep. 180- Existential Hurricane

Ep. 179- Inflation Ahead

Ep. 178- Advisor Solutions with Helios (Talk Your Book)

Ep. 177-The Opposite of a Falling Knife

Ep. 176- Invest in Private Real Estate With Fundrise (Talk Your Book)

Ep. 175- Stock Market Euphoria

Ep. 174- How to Make Better Financial Decisions (Talk Your Book)

Ep. 173- The Unluckiest Generation

Ep. 172- Valuations Don’t Matter

Ep. 171- Investing in Corporate Real Estate (Talk Your Book)

Ep. 170- Is the Stock Market Wrong?

Ep. 169- Too Young, Too Dumb and Too Inexperienced 

Ep. 168- Fallen Angels

Ep. 167- Whatever It Takes Squared

Ep. 166- A NoobWhale Picker’s Market

Ep. 165- Capitalism As We Know It

Ep. 164- Free Delivery

Ep. 163- Free Oil

Ep. 162- The Second Wave

Ep. 161- Mountains of Debt

Ep. 160- Talk Your Book: Investing in Art With Masterworks

Ep. 159- The Fed’s Bazooka

Ep. 158- Some Good News

Ep. 157- The Great Unwind

Ep. 156- The Dead Cat Bounce

Ep. 155- The Historic Surge in Unemployment

Ep. 154- The first thing to go during a crisis

Ep. 153- Bailing Out Main Street

Ep. 152- Is this worse than 2008?

Ep. 151- Trading Direxion Leveraged ETFs

Ep. 150-  Preparing For a Recession

Ep. 149- Oil’s 1987 Moment

Ep. 148- A Random Watch Down Wall Street

Ep. 147- The Emergency Rate Cut

Ep. 146- Talk Your Book: Investing in Commodities

Ep. 145- Michael’s Worst Investment Ever

Ep. 144- Talk Your Book: Small and Mid Cap Growth Investing

Ep. 143- What Makes People Happier than Money?

Ep. 142- A Random Watch Down Wall Street: Margin Call

Ep. 141- Everybody’s Trading

Ep. 140- Talk Your Book: How To Create Income

Ep. 139- Do Economies Need to Go Bust?

Ep. 138- Apocalyptic Thinking

Ep. 137- Short Squeeze

Ep. 136- The 10 Best Jobs in America

Ep. 135- Millennials on Communism

Ep. 134- Everybody’s Busy

Ep. 133- The Best Decade in Human History

Ep. 132- A Random Watch, Trading Places

Ep. 131- Shopping Under the Influence

Ep. 130- Talk Your Book: The Case for Tactical Equity

Ep. 129- The Murder of the American Dream

Ep. 128- A Random Watch Down Wall Street, Boiler Room

Ep. 127- It’s What It Is

Ep. 126- Talk Your Book: Elimination Alpha, How to XOut Your Portfolio Losers

Ep. 125- The Nastiest, Hardest Problem in Finance

Ep. 124- Talk Your Book: Value & Momentum With Jack & Wes

Ep. 123- Worst Call Ever?

Ep. 122- Talk Your Book- Defined Outcome Strategies with Jason Barsema of Halo Investing 

Ep. 121- I’ve Never Used an Emoji

Ep. 120- Talk Your Book: Coaching the Yankees 

Ep. 119- Talk Your Book: Greg Zuckerman on Jim Simons & Renaissance Technologies

Ep. 118- The World’s Worst Investor

Ep. 117- CEO Departures

Ep. 116- Talk Your Book: Crossing Wall Street with Eddy Elfenbein

Ep. 115- The Least Happy Age

Ep. 114- The Undies Indicator

Ep. 113- Re-Kindled: Malcolm Gladwell

Ep. 112-Stockpiling Cash

Ep. 111-Talk Your Book: Investing in Private Companies with EquityZen

Ep. 110- Michael’s Brain Fart

Ep. 109- Economically Unattractive

Ep. 108- Who Are the Losers?

Ep. 107- Best Case Recession

Ep. 106- Re-Kindled: Amusing Ourselves to Death

Ep. 105- Paycheck to Paycheck

Ep. 104- Talk Your Book: Invest Like a Hedge Fund With Titan

Ep. 103- Business in a Box

Ep. 102- The Bankrupt Barber

Ep. 101- Superforecasting, Re-Kindled

Ep. 100-Rush For the Exits

Ep. 99-Broke and Overweight

Ep. 98-Shielded Alpha

Ep. 97- Talk Your Book, Agricultural Commodities

Ep. 96-The Next Big Short

Ep. 95- Talk Your Book, The Acquirer’s Fund

Ep. 94- A Single Pushup

Ep. 93- Talk Your Book: Global Factor Investing

Ep. 92- The Great Depression of 2073

Ep. 91- The 4 Most Dangerous Words in Podcasting

Ep. 90- Talk Your Book- Trading with MarketSmith

Ep. 89- The Influencer Bubble

Ep. 88- Re-kindled: Where Are the Customers’ Yachts?

Ep. 87- The Podcast Powerlaw

Ep. 86- Talk Your Book With Unison

Ep. 85- The Absence of Stuff

Ep. 84- Talk Your Book with Jeremy Schwartz of WisdomTree

Ep. 83- Michael’s Fitness Pal

Ep. 82- The Rorschach Test

Ep. 81 – Re-Kindled: The Big Short

Ep. 80- Remember Gchat?

Ep. 79- The Re-Readables

Ep. 78- Money Makes Money

Ep. 77- Netflix for Financial Planning

Ep. 76- Footing the Bill

Ep. 75- Talk Your Book: Creating a Buffer

Ep. 74- The Expectations Gap

Ep. 73- Talk Your Book: The Low Vol Anomaly

Ep. 72- Where Were You at the Bottom?

Ep. 71- I Will Say This

Ep. 70- The Rich Man’s Disease

Ep. 69- Denominator Blindness

Ep. 68- The Rich Man’s IRA

Ep. 67- Banning Buybacks

Ep. 66- Adverse Variance

Ep. 65- Stay the Course

Ep. 64- The Richest 50%

Ep. 63- Record Outflows

Ep. 62- The Market Swoon

Ep. 61- The Bear Market

Talk Your Book: Breaking the Market Cap

Ep. 60- Everyone Should Earning 3 Percent

Talk Your Book: International Investing

Ep. 59- Late Cycle

Ep. 58- The Sellers Are in Control

Talk Your Book: Investing in Commodities

Ep. 57- Passive Income

Ep. 56- How to Ask the Right Questions

Ep. 55- How to Create the Perfect Fund

Ep. 54- Spirit Animal

Ep. 53- Panic A Little

Ep. 52- The Next Subprime

Ep. 51- The Healthy Correction

Ep. 50- A Committee of Geniuses

Ep. 49- Buy the Housing Dip

Ep. 48 – Looming Disaster

Ep. 47- Borrowing From the Future

Ep. 46- How the Financial Crisis Affected Millenials

Ep. 45- Do We Need a Recession?

Ep. 44- When Hitler Took Cocaine

Ep. 43 – Why Andy Dufresne Would be a Good Portfolio Manager

Ep. 42- Funding Secured

Ep. 41- Despite All Logic

Ep. 40- What Worked On Wall Street

Ep. 39- The Worst 401(k) Advice

Ep. 38- Half the Population

Ep. 37- Ring the Bell

Ep. 36- Blackswan Growth

Ep. 35- Individual Alpha

Ep. 34- The Mother of All Credit Bubbles

Ep. 33- The Oracle of Brooklyn

Ep. 32- Big Mistakes

Ep. 31- Stocks are Not Bonds

Ep. 30- What it Takes to be Wealthy

Ep. 29- The Podcast Boot Camp

Ep. 28- Tesla Hathaway

Ep. 27- Micro Bubbles

Ep. 26- The Collaborative Podcast

Ep. 25- Some Things We Learned

Ep. 24- The False Breakdown

Ep. 23- The Lump Sum

Ep. 22- Horizontal Support

Ep. 21- The Magic Number

Ep. 20- Goodnight Moon

Ep. 19 – Brothers From a Different Mother

Ep. 18 – The Closet Indexer

Ep.17 – Phony Happiness

Ep.16 – The Meltdown

Ep.15 – The Noobwhale

Ep.14 – Cash on the Sidelines

Ep.13 – Nobody Wants to Listen to Your Podcast

Ep.12 – Melt-Up

Ep.11 – Hedge Fund Myths & Casual Investing Advice

Ep.10 – The Happiness Smile

Ep.9 – Invest Like the Worst

Ep. 8 – May Day

Ep.7 – A Random Walk Down Nowhere

Ep.6 – Bitcoin, Bubbles & Bananas

Ep.5 – Wave Pools & Market Inefficiencies

Ep.4 – Evidence-Based Investing Conference Post-Mortem

Ep.3 – The More You Pay, The Less You Get

Ep.2 – Investing is Game of Relative, Not Absolute Skill

Ep.1 – Animal Spirits Unleashed – How We Invest Our Own Money

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