Business plans that sound ridiculous until you realize how well they worked in real life.
Terrible Business Plans, Wonderful Businesses
Where Have all the Stock Market Wizards Gone?
Why we’re unlikely to see many new stock market wizards in the coming decades.
World War II: The Economic Anomaly
How World War II changed the economic landscape.
Animal Spirits: Winners of the Financial Crisis
Michael and Ben discuss who won the financial crisis, The Joker, tech unicorn IPOs and much more.
Would the Market Care if the President Was Impeached?
A historical look back at how the stock market has reacted to past presidential turmoil.
Finance Topics That Make Your Head Hurt
Why reinvestment risk is so difficult to deal with when bond prices move considerably.
Why Do Rich People Give So Much Money to Ivy League Schools?
Do the biggest college endowments have too much money?
The Great Fee War of the 2010s
How Robinhood forced other brokerages and fund firms to lower their commissions to zero.
Animal Spirits: Free Trading
This week’s Animal Spirits with Michael & Ben is supported by YCharts: Mention Animal Spirits and receive 20% off your subscription price when you initially sign up for the service. We discuss: When stocks go from best to worst Schwab announces free trading commissions The Robinhood copycats are coming When public markets dictate private markets Goldman’s push into…
Why “The Economy” is Still Relatively New
The modern financial system is still in its infancy in many ways. This is why making historical comparisons between now and even 100 years ago or so becomes difficult. Things have changed rapidly in terms of the maturity, size, and scale of the economy. In this piece I wrote for Fortune, I look at this…
