Animal Spirits: Michael’s Worst Investment Ever

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

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