On this week’s Animal Spirits with Michael and Ben…
We discuss:
- The impact of the coronavirus on the markets
- Why influenza is such a scary virus
- Why the low-cost brokerages won
- How many more takeovers will there be in the asset management space?
- Why wealth management is taking over for stock-picking
- Are people trading more since the advent of free trades?
- Why the top 1% isn’t static
- Why are bond yields so low?
- Why the paradox of thrift is a pipe dream
- Are there more billionaires or FIRE people?
- Maybe this isn’t the longest economic expansion in U.S. history
- How many people understand the concept of diversification?
- Why aren’t cable stocks doing worse if “everyone” is cutting the cord?
- Why buying Knicks season tickets is the worst investment Michael ever made
- Why it’s so hard to automate investing in the real estate market
- Denominator blindness in debt statistics
- Why temperament is more important than smarts in the markets
- Does it make sense to cash out your 401k to pay for business school?
- Should you buy a home if you’re going to move in 3 years?
- Should financial advisors eat their own cooking?
- Dustin Hoffman, Gene Hackman, Robert Duvall and more
Listen here:
Stories mentioned:
- Morgan Stanley to buy E-Trade for $13 billion
- Morgan Stanley is betting on smaller customers
- Mom and pop are on an epic buying spree with free trades
- High turnover among America’s rich
- How millennials could make the Fed’s job harder
- America’s first great moderation
- Meb Faber and Joe Davis
- 50% of Americans don’t understand diversification
- The current media landscape
- Zillow is losing millions selling houses
- Credit card debt in the U.S. rises to record $930 billion
Books Mentioned:
- The Great Influenza by John Barry
- The MVP Machine by Ben Lindbergh
- Life Isn’t Everything by Ash Carter
- The Devil’s Chessboard by David Talbot
Charts mentioned:
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