On this week’s Animal Spirits with Michael & Ben we discuss:
- The new Howard Marks book.
- Do super-investors like Marks & Buffett actually do more harm than good?
- The humble beginnings of the first Vanguard index fund.
- How to call a market top without calling a market top.
- How SoftBank’s vision fund will impact the VC world.
- A handful of different asset allocation models.
- The Permanent Portfolio mutual fund.
- Are we wrong to be an anti-survey podcast?
- The fraud of the week and how to spot a Ponzi scheme.
- Will profit margins ever mean revert again?
- Can you wait to buy the dip in housing prices?
- Tom Cruise with a swing and a miss.
- Some of my high school secrets and much more.
Listen here:
Stories mentioned:
- Howard Marks — how to invest with clear thinking
- Bogleheads on investing with Jack Bogle
- Blockbuster deals and stock market records are a sign of a top
- The $100 billion blitz on Sand Hill Road
- Bernstein, Swensen, Browne or Swedroe
- Ponzi scheme of the week
- Market concentration
- U.S. home price gains decelerated in July
Books mentioned:
- Born Standing Up by Steve Martin
- The Most Important Thing by Howard Marks
- Where Good Ideas Come From by Steven Johnson
- Mastering the Market Cycle by Howard Marks
Charts mentioned:
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