Animal Spirits Episode 46: How the Financial Crisis Affected Millennials

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

  • The lingering impact from the financial crisis on investor risk appetite.
  • How a financial crisis in your formative years can leave lasting scars.
  • Every generation has their own ‘Death of Equities.’
  • Even the Fed makes decisions based on pasts crises.
  • Cliff Asness on how to think about performance struggles.
  • Is there mean reversion in liquid alts?
  • Are half of all young people deleting the Facebook app?
  • Will half of all colleges be bankrupt in 10-15 years?
  • How much money will you spend in retirement?
  • Fake day trading guys concoct the worst Ponzi Scheme of all-time.
  • Why do athletes keep hiring scumbag accountants?
  • Can you use Google trends to invest?
  • What if Goldman Sachs would’ve purchased iShares in 2009?
  • Some follow-up thoughts on the FIRE movement and much more.

Listen here:

Stories mentioned:

Books mentioned:

Charts mentioned:

Tweetstorms mentioned:

Email us at with any feedback, recommendations, or questions.

Follow us on Facebook.

Subscribe here:


This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.