Michael Batnick shares his incredible journey from struggling student to managing partner at Ritholtz Wealth Management. Discover how a chance train encounter changed his life and propelled him into the world of finance. Michael opens up about his career setbacks, finding passion for the markets, and lessons learned along the way. Plus, hear his candid market outlook for 2025, thoughts on active vs. passive investing, and strategies for navigating financial challenges. This episode is packed with valuable career advice, market wisdom, and personal growth insights. 0:00 - **Intro: Welcome Michael Batnick** 0:34 - **Early Career Struggles & Academic Setbacks** 3:20 - **Getting Kicked Out of College—Twice** 5:58 - **Selling Insurance & Finding Direction** 9:35 - **Life-Changing Stock Story: Celgene’s Impact** 12:11 - **Discovering a Passion for Markets** 15:00 - **Career Desperation & Job Search Struggles** 20:54 - **The Life-Changing Train Encounter with Josh Brown** 25:06 - **Breaking into Finance: Getting Hired** 27:30 - **How Relentless Hard Work Pays Off** 30:12 - **Building a $5B Wealth Management Firm** 34:40 - **Harnessing ADD for Success** 38:01 - **Market Insights & 2025 Outlook** 45:37 - **Why Realistic Market Expectations Matter** 50:05 - **Market Cycles & the Importance of Patience** 55:30 - **Active vs. Passive Investing Explained** 1:03:30 - **Investing Philosophy & Tactical Models** 1:07:18 - **The Role of Financial Advisors During Crises** 1:08:20 - **Closing Thoughts & What’s Next**
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