Animal Spirits Episode 34: The Mother of All Credit Bubbles

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

  • Some proposals from Barron’s on changes Warren Buffett should make at BRK.
  • The latest letter from Howard Marks.
  • Why the ‘mother of all credit bubbles’ isn’t as bad as you might think.
  • Why it makes no sense to compare government debt to household debt.
  • Should computer programmers move from Silicon Valley to the Midwest?
  • Why the source of the investor behavior gap isn’t poor market timing abilities.
  • The enormity of WeWork’s private market valuation.
  • Overly optimistic wealth expectations by millennials.
  • Manipulation in bitcoin prices.
  • Skill vs. luck in professional sports.
  • The Tesla circus and much more.

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