On this week’s Animal Spirits with Michael & Ben we discuss:
- What does all that cash moving to the sidelines tell us?
- How markets have changed since 1800.
- Valuations between U.S. and foreign stocks are wider than they’ve been in 40 years.
- Does the U.S. deserve a valuation premium?
- Why are there no star fund managers under the age of 60?
- Why does a small handful of hedge funds create all the gains?
- Millennials don’t understand how down payments work.
- Michael’s experience selling a house without a realtor.
- Why we overestimate the returns on our homes.
- When buying is cheaper than renting.
- The Reddit trade of the week.
- RSUs vs. stock options.
- Taking advantage of the illiquidity premium.
- Early thoughts on True Detective and much more.
Listen here:
Stories mentioned:
- Investors’ dash for cash
- 200 years of stock market sectors
- The biggest valuation spread in 40 years?
- Einhorn explains why he lost 30% last year
- The best hedge fund manager of all-time
- Millennials don’t really get how down payments work
- Who owns all the stocks and bonds?
- Shifting risks in the bond market
- The most important investors of all time
Books mentioned:
Charts mentioned:
Crazy idea of the week:
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