Animal Spirits

Animal Spirits is a weekly podcast where I get together with my friend and colleague Michael Batnick to discuss what we’ve been reading, researching, writing, watching, listening to, and thinking about. We talk about all things financial markets, personal finance, our favorite books, movies, and TV shows, parenting, the asset management business and more. Our goal is the make finance more accessible, speak in plain English, and share our own personal experiences in the markets.

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Find transcripts of each episode at Shuffle.

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Episode List

Talk Your Book: Is the Fed Too Entrenched?

Bad Ideas

Talk Your Book: What’s In an Index?

Bearish the Whole Way Up

Talk Your Book: Protecting the Tails

Living Through History

A Random Talk with Burton Malkiel

Worst Recession Ever

Talk Your Book: Investing in Gold

It’s Hard Being Rich

Everything You Need to Know About Retirement

Upside Down Markets

Democracy Has Failed

The Economics of Parenting

Asset Price Hyperinflation

Talk Your Book: Sectors & The Business Cycle

Trickle Up Economics

How to Spend Money

The Four Most Dangerous Words

Talk Your Book: Understanding Opportunity Zones

The Smart Money

The Economics of Home Ownership

S&P 5

Talk Your Book: Fixed Income Investing in a Low Rate World

The Golden Age of Fraud

Talk Your Book: Edly ISAs – Invest in Student Achievement

10,000 Day Traders

This is a Bubble

The Future of Education

Existential Hurricane

Inflation Ahead

Talk Your Book: Advisor Solutions with Helios

The Opposite of a Falling Knife

Talk Your Book: Investing in Private Real Estate with Fundrise

Stock Market Euphoria

Talk Your Book: How to Make Better Financial Decisions with Daniel Crosby

The Unluckiest Generation

Valuations Don’t Matter

Talk Your Book: Investing in Commercial Real Estate

Is the Stock Market Wrong?

Too Young, Too Dumb & Too Inexperienced

Fallen Angels

Whatever It Takes Squared

A Noobwhale Picker’s Market

Capitalism as We Know It

Physical Delivery

Free Oil

The Second Wave

Mountains of Debt

Talk Your Book: Investing in Art with Masterworks

The Fed’s Bazooka

Some Good News

The Great Unwind

Dead Cat Bounce?

The Historic Surge in Unemployment

The First Thing to Go in a Crisis

Bailing Out Main Street

Is This Worse Than 2008?

Talk Your Book: Positive & Negative Compounding – Trading with Direxion

Preparing for a Recession

Oil’s 1987 Moment

A Random Watch Down Wall Street: The Founder

The Emergency Rate Cut

Talk Your Book: Investing in Commodities

Michael’s Worst Investment Ever

Talk Your Book: Small and Mid Cap Growth Stock Investing

What Makes People Happier Than Money

A Random Watch Down Wall Street: Margin Call

Everybody’s Trading

Talk Your Book: How to Create Income in Your Portfolio

Do Economies Need to Go Bust?

Apocalyptic Thinking

The Short Squeeze

The 10 Best Jobs in America

Millennials on Communism

Everybody’s Busy

The Best Decade in Human History

A Random Watch Down Wall Street: Trading Places

Shopping Under the Influence

Talk Your Book: The Case For Tactical Equity

Murder of the American Dream

A Random Watch Down Wall Street: Boiler Room

It’s What It Is

Talk Your Book: Elimination Alpha

The Nastiest, Hardest Problem in Finance

Talk Your Book: Value & Momentum with Wes & Jack

Worst Call Ever?

Talk Your Book: Defined Outcome Strategies with Jason Barsema of Halo Investing

I’ve Never Used an Emoji

Talk Your Book: Coaching the Yankees

The World’s Worst Investor

CEO Departures

Talk Your Book: Crossing Wall Street with Eddy Elfenbein

The Least Happy Age

The Undies Indicator

Winners of the Financial Crisis

Free Trading

Stockpiling Cash

Talk Your Book: Investing in Private Companies with EquityZen

Michael’s Brain Fart

Economically Unattractive

Who Are the Losers?

Best Case Recession

Paycheck to Paycheck

Talk Your Book: Invest Like a Hedge Fund With Titan

Business in a Box

Re-Kindled: Amusing Ourselves to Death

The Bankrupt Barber

Rush to the Exits

Shielded Alpha

Re-Kindled: Superforecasting

The Next Big Short?

Talk Your Book: The Acquirer’s Multiple

A Single Push-Up

Talk Your Book: Global Factor Investing

The Great Depression of 2073

The Four Most Dangerous Words in Podcasting

Talk Your Book: Trading With MarketSmith

Dad Cat Bounce

Talk Your Book: The Net Lease REIT ETF

The Influencer Bubble

The Podcast Power Law

The Absence of Stuff

Re-Kindled: Where Are the Customers’ Yachts

Talk Your Book: Jeremy Schwartz From Wisdomtree

Michael’s Fitness Pal

Talk Your Book: Help With Your Down Payment From Unison

The Rorschach Test

Re-Kindled: The Big Short

Remember Gchat?

The Re-Readables

Money Made by Chance

Money Makes Money

The Netflix of Financial Advice

Footing the Bill

Talk Your Book – Creating a Buffer

The Expectations Gap

Talk Your Book – The Low Volatility Anomaly

Where Were You At the Bottom?

Supremely Efficient Markets

The Rich Man’s Disease

Denominator Blindness

The Rich Man’s IRA

Banning Buybacks

Adverse Variance

Stay the Course

The Richest 50%

Record Outflows

The Market Swoon

The Bear Market

Breaking the Market Cap

Everyone Should Earn 3%

Talk Your Book – International Investing

Late Cycle

The Sellers Are In Control

Talk Your Book – Investing in Commodities

Passive Income

How to Ask the Right Questions

How to Create the Perfect Fund

Spirit Animal

Panic a Little

The Next Subprime

The Healthy Correction

A Committee of Geniuses

Buy the Housing Dip

Looming Disaster

Borrowing From the Future

How the Financial Crisis Affected Millennials

Do We Need a Recession?

When Hitler Took Cocaine

Why Andy Dufresne Would Make a Good Money Manager

Funding Secured

Despite All Logic

What Worked on Wall Street

The Worst 401(k) Advice

Half the Population

Ring the Bell

Black Swan Growth

Individual Alpha

The Mother of All Credit Bubbles

The Oracle of Brooklyn

Big Mistakes

Stocks Are Not Bonds

What it Takes to be Wealthy

The Podcast Boot Camp

Tesla Hathaway

Micro Bubbles

The Collaborative Podcast (with special guest host Morgan Housel)

Some Things We Learned

The False Breakdown

The Lump Sum

Horizontal Support

The Magic Number

Goodnight Moon

Brothers From Another Mother

The Closet Indexer

Phony Happiness

The Meltdown

The Noobwhale

Cash on the Sidelines

Nobody Wants to Listen to Your Podcast

The Melt-Up

Hedge Fund Myths & Casual Investing Advice

The Happiness Smile

Invest Like the Worst

May Day

A Random Walk Down Nowhere

Bitcoin, Bubbles & Bananas

Wave Pools & Market Inefficiencies

Evidence-Based Investing Conference Post-Mortem

The More You Pay, The Less You Get

Investing is Game of Relative, Not Absolute Skill

Animal Spirits Unleashed – How We Invest Our Own Money

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