Podcast · 382 episodes
Animal Spirits Podcast, page 2
by The Compound · English
Animal Spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, listening to and watching. Look for new episodes every Wednesday morning. See our disclosures here - https://ritholtzwealth.com/podcast-youtube-disclosures/
All episodes, page 2
Talk Your Book: How SpaceX Got Into the Nasdaq 100Michael Batnick and Ben Carlson discuss why owning the Nasdaq 100 (via QQQ) has been a straightforward way to capture AI winners, citing Micron’s rapid rise: it jumped from outside the top 10 to the…6 Jul 2026 · 28 min · 14 chapters
Is Debt Fueling the Rally? (EP. 471)Leverage and market breadth in 2026—whether rising borrowing (margin debt, leveraged ETFs, prime brokerage funding) is fueling the rally, plus a “debubbling” narrative in AI/data-center memory stocks…1 Jul 2026 · 1 h 13 min · 31 chapters
Talk Your Book: Investing in the Power GridMichael Batnick and Ben Carlson discuss how AI-driven electricity demand is accelerating the need to modernize and expand power grids, framing it as “picks and shovels.” They interview Ryan…29 Jun 2026 · 29 min · 17 chapters
Everything is Outperforming the S&P 500 This Year (EP. 470)Market breadth has broadened beyond the “MAG-7,” with many segments outperforming the S&P 500 this year (small caps, value, REITs, emerging markets, dividend stocks).24 Jun 2026 · 1 h · 30 chapters
Talk Your Book: AI Is Not a BubbleAI isn’t a bubble; it’s a supply-chain and capacity-constrained “exponential” innovation cycle affecting semiconductors and the broader industrial economy, including power.22 Jun 2026 · 30 min · 15 chapters
How Much is $1 Trillion? (EP. 469)The hosts debate whether AI and mega-IPO mania will end in a “bubble” crash or an unsatisfying but survivable washout, arguing investors don’t need to “call the top.” They use examples from SpaceX,…17 Jun 2026 · 1 h 9 min · 25 chapters
Talk Your Book: The Case for Investing in Emerging Market BondsMichael Batnick and Ben Carlson interview Eric Fine (VanEck) about why emerging market (EM) government bonds may be less risky than assumed, focusing on lower volatility, higher carry, and “absence…15 Jun 2026 · 32 min · 14 chapters
The Teflon Economy (EP. 468)The “Teflon economy” keeps defying repeated recession narratives, even as markets react violently to new data.10 Jun 2026 · 1 h 17 min · 30 chapters
Talk Your Book: Diversification in Private AssetsDiversifying portfolios with private assets (private equity, private credit, real assets) and how advisors should think about illiquidity, risk/return tradeoffs, and appropriate portfolio…8 Jun 2026 · 28 min · 11 chapters
The Biggest Short Squeeze of All-Time (EP. 467)The hosts discuss a powerful “AI/semiconductor” bull market, comparing today’s market momentum to past tech eras, debating whether it’s sustainable or nearing excess.3 Jun 2026 · 1 h 7 min · 31 chapters
Talk Your Book: Why Rising Rates Won't Hurt You AnymoreThe episode argues that rising interest rates are an opportunity for municipal bond investors, not a permanent threat, and explains how muni bonds react to rates, credit risk, and taxes.1 Jun 2026 · 32 min · 15 chapters
A Fire Alarm For Interest Rates (EP. 466)The hosts discuss (1) IPO/index-liquidity dynamics for major tech/space AI names (OpenAI, Anthropic, SpaceX), (2) whether rising long-term interest rates are a “fire alarm” or normal yield-curve…27 May 2026 · 1 h 1 min · 35 chapters
Talk Your Book: Investing in the Rise of the RobotsMichael Batnick and Ben Carlson discuss “physical AI” and humanoid robots as the next major investing theme after internet/mobile/cloud and digital AI, focusing on CraneShares’ Global Humanoid…25 May 2026 · 35 min · 17 chapters
The Fat Pitch For Bears (EP. 465)Markets and investing amid high rates and an AI-driven stock run; whether a “fat pitch” bear case exists, and how AI may disrupt jobs, finance, and investing behavior.20 May 2026 · 1 h 6 min · 34 chapters
Talk Your Book: Is the Nasdaq 100 in Another Bubble?The NASDAQ 100’s “bubble” debate—whether today’s AI-driven enthusiasm resembles 1999 dot-com—and how NASDAQ is updating NASDAQ 100 index rules to handle faster private-to-public transitions.18 May 2026 · 30 min · 15 chapters
This Won't End Well (EP. 464)The hosts discuss “melt-up” market conditions, whether the rally is justified vs bubble risk, and how AI is reshaping markets and the economy (including labor training).13 May 2026 · 1 h 12 min · 40 chapters
Talk Your Book: Investing in SecuritizationFixed-income securitization, focusing on Janus Henderson’s AAA CLO ETF JAAA and its broader securitized ETF JSI, including how CLOs work, why they trade at a spread, and key risks.11 May 2026 · 31 min · 17 chapters
The Stock Market Is Doing Something We’ve Never Seen Before (EP. 463)The hosts discuss why the stock market looks unusually expensive and yet keeps rising, focusing on valuation (stock market cap-to-GDP), mega-cap earnings acceleration, and AI-driven capex; they also…6 May 2026 · 1 h 6 min · 32 chapters
Talk Your Book: Animal Spirits Live with F/m InvestmentsA live “Animal Spirits” episode with Alex Morris of FM Investments covering inflation and the bond market, fixed-income diversification, tax alpha in ETFs, and how FM’s tax-aware products work…4 May 2026 · 56 min · 19 chapters
Paycheck-To-Paycheck on $500,000? (EP. 462)The episode argues that AI and data tools will rapidly eliminate “information asymmetry” in wealth planning and investing, making differentiated client service and firm scalability more important.29 Apr 2026 · 1 h 4 min · 33 chapters
Talk Your Book: Consternation About Concentration“Consternation About Concentration” on Animal Spirits—why markets aren’t panicking despite mega-cap concentration, how AI capex fears triggered rotation, and what could derail the current…27 Apr 2026 · 40 min · 22 chapters
Investing Isn't Supposed to Be FunThe hosts argue the stock market “makes sense” because forward earnings growth is accelerating and risk assets aren’t detached from fundamentals.22 Apr 2026 · 1 h · 35 chapters
Talk Your Book: Juicing Your ReturnsCalamos’ auto-callable ETF products, especially the new Calamos Auto Callable Growth ETF (ticker CAGE), and how structured-note strategies are being moved into an ETF wrapper for easier access.20 Apr 2026 · 32 min · 10 chapters
Everyone Back in the Boat (EP. 460)Tax week and the IRS’s shrinking enforcement capacity; market rotation driven by AI narratives; sector re-ratings (software vs semis, energy vs tech); consumer and labor-market…15 Apr 2026 · 1 h 12 min · 38 chapters