Animal Spirits Episode 12: The Melt-Up

On this week’s Animal Spirits with Michael & Ben we discuss:

  • The prospects for a melt-up in the stock market over the coming 9-18 months.
  • The psychological damage another market crash would have on investors.
  • Why not all historical stock market bubbles have ended in a crash.
  • The problem with trying to come up with a mathematical formula to define a bubble.
  • An under-the-radar idea for your best investment of 2018.
  • Michael sets the record straight on a quote of his used by Research Affiliates.
  • Why last year’s stock market performance won’t help you guess how things will turn out in 2018.
  • The problems with anecdotal market sentiment readings.
  • Why mom and pop don’t have as much of an impact on the markets as you might think.
  • Is 10% a big enough savings rate to retire?

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