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Animal Spirits Podcast

The Compound
Investment Strategies
Stock Market
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Artificial Intelligence
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S&P 500
Investing
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Ritholtz Wealth Management
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Nasdaq 100
Etfs
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Animal Spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, listening to and watching. Look for new episodes every Wednesday morning. See our disclosures here - ritholtzwealth.com/podcast-youtube-disclosures/

PublishesDailyEpisodes800Founded9 years ago
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Latest Episodes

On episode 471 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss: all-time hi... more

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠... more

On episode 470 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss: why diversifica... more

YouTube

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠... more

Key Facts

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Recent Guests

Ankur Crawford
Portfolio Manager, Alger Concentrated Equity ETF (CNEQ)
Alger
Episode: Talk Your Book: AI Is Not a Bubble
Eric Fine
Portfolio manager for the VanEck Emerging Markets Bond Strategy
VanEck
Episode: Talk Your Book: The Case for Investing in Emerging Market Bonds
Danielle Singer
Head of wealth management platforms at Invesco
Invesco
Episode: Talk Your Book: Diversification in Private Assets
Ben Linder
Partner at LGT Capital Partners
LGT Capital Partners
Episode: Talk Your Book: Diversification in Private Assets
Ben Barber
Director of the municipal bond department at Franklin Templeton
Franklin Templeton
Episode: Talk Your Book: Why Rising Rates Won't Hurt You Anymore
Derek Yan
Senior Investment Strategist at KraneShares
KraneShares
Episode: Talk Your Book: Investing in the Rise of the Robots
Mark Merrick
Global Head of Index Insights, Nasdaq
Nasdaq
Episode: Talk Your Book: Is the Nasdaq 100 in Another Bubble?
Michael Laughlin
Executive Director and ETF Client Product Specialist
Janus Henderson Investors
Episode: Talk Your Book: Investing in Securitization
Michael Arone
Chief Investment Strategist at State Street Investment Management
State Street Investment Management
Episode: Talk Your Book: Consternation About Concentration

Hosts

Michael Batnick
Host of Animal Spirits and regular co-host; frequently discusses markets, life, and investing.
Ben Carlson
Co-host focusing on markets, investing, and wealth management topics.

Reviews

4.7 out of 5 stars from 3.7k ratings
  • Munis

    Great interview with Ben Barber. I retired from the muni business and when the topic of bond funds vs individual bonds came up, I don’t think it was addressed completely. Bond funds never mature, you are at the whim of the manager regarding gains and losses and NEVER receive PAR (stated bond value) at maturity for your ownership. When you own the bond, you have the option to buy or sell, at your discretion to take gains or losses based on your tax situation, and have the option to hold to mat... more

    Apple Podcasts
    4
    Kfcswag
    United Statesa month ago
  • Only for entertainment

    Like the dynamic duo. It’s good entertainment but i would never trust them my money to manage it (not that they care). If you want more serious investment advice, go somewhere else. One last point, Michael, lately you sound arrogant and are even rude to Ben. Don’t be please.

    Apple Podcasts
    3
    montreal23
    Canadaa month ago
  • Incredible Investing Pod

    These guys are the perfect mix of informational and entertaining. With weekly finance discussion, it’s hard to find pods that keep topics fresh. This is the pod you’re looking for, I promise.

    Apple Podcasts
    5
    nuffsbeensaid
    United States3 months ago
  • Too much bla, bla, bla

    Not much content. Just nothing.

    Apple Podcasts
    1
    Edxs
    Canada6 months ago
  • Text billionaires

    Ben talking about his wife, laughing at him through his misfortune with his cactus adventure. I thought my wife was the only one that laughed at me from my misfortune. Must be a wife thing.

    Apple Podcasts
    5
    R Orosz
    United States6 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Overall, episodes are considered insightful with occasional controversial moments.
Some critique the show for political takes or long tangents.
Listeners appreciate the balance of market analysis and personal finance banter.

Chart Rankings

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Talking Points

Recent interactions between the hosts and their guests.

Talk Your Book: The Case for Investing in Emerging Market Bonds
Q: What makes EM bonds potentially preferable to DM bonds in the current environment?
EM bonds combine lower volatility than equities with higher carry than developed-market bonds, plus a broader set of issuers and currencies that offer diversification and resilience, especially when central banks maintain credible inflation targeting and fiscal discipline.
Talk Your Book: The Case for Investing in Emerging Market Bonds
Q: How does currency exposure impact EM bond returns, and do you hedge currency risk?
FX volatility in EMs is generally lower than in DM currencies, and they typically do not hedge currency risk because hedging would erase much of the yield advantage; the strategy focuses on high real yields and currency stability relationships rather than trying to predict short-term FX moves.
Talk Your Book: AI Is Not a Bubble
Q: How do you think about valuations given ongoing supply tightness, and what should investors look at beyond the headline price moves?
Focus on the earnings framework (the E in P/E) and assess whether the earnings power and pricing power across the supply chain can sustain high multiples, recognizing that memory and AI-driven demand are likely to persist beyond short-term cycles.
Talk Your Book: AI Is Not a Bubble
Q: I'm curious, what would actually cause you concern that this has gone too far or that we are in bubble territory?
A meaningful concern would be a hypothetical scenario where trillion-dollar level capex could be spend without corresponding demand, or a sudden algorithmic leap that dramatically improves efficiency to the point where current valuations can no longer be justified by earnings potential.
Talk Your Book: Why Rising Rates Won't Hurt You Anymore
Q: Are municipal bonds only for high-income people in high-tax states?
Barber argues that munis are attractive for any investor paying taxes, not just high-income earners in high-tax states, and that after-tax comparisons help reveal relative value across the curve and across credit quality.

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Frequently Asked Questions About Animal Spirits Podcast

What is Animal Spirits Podcast about and what kind of topics does it cover?

Two seasoned market voices discuss investing, macro dynamics, and everyday life with a light, banter-heavy approach. Episodes frequently cover stocks, ETFs, AI-driven disruption, and personal finance anecdotes, often weaving sponsor reads and practical tools for advisors. The show's mix of rigorous market talk and relatable storytelling, plus recurring live/offsite episodes and diverse guest appearances, makes it a go-to for listeners who want approachable yet data-informed perspectives on investing and wealth management.

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Which podcasts are similar to Animal Spirits Podcast?

These podcasts share a similar audience with Animal Spirits Podcast:

1. Ask The Compound
2. The Compound and Friends
3. Talking Wealth
4. Facts vs Feelings with Ryan Detrick & Sonu Varghese
5. The Meb Faber Show - Better Investing

How many episodes of Animal Spirits Podcast are there?

Animal Spirits Podcast launched 9 years ago and published 800 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Animal Spirits Podcast?

Recent guests on Animal Spirits Podcast include:

1. Ankur Crawford
2. Eric Fine
3. Danielle Singer
4. Ben Linder
5. Ben Barber
6. Derek Yan
7. Mark Merrick
8. Michael Laughlin

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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