Animal Spirits Podcast
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 - https://ritholtzwealth.com/podcast-youtube-disclosures/
Episodes
November 26, 2025 • 64 mins
On episode 440 of Animal Spirits, Michael Batnick and Ben Carlson discuss stocks moving on no news, reasons today's market is not like the 90s, the Fed needs to cut, Google's breakout, thoughts on Disney, Cembalest's favorite movies, and much more.
This episode is sponsored by Invesco & KraneShares
Visit https://www.invesco.com/ to learn more. Inve...
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November 24, 2025 • 29 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Krista Lynch, Senior Vice President, ETF Capital Markets at Grayscale to discuss: the crypto ETF landscape, how staking works, what's coming next in this space and much more.
Find complete show notes on our blogs...
Ben Ca...
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November 19, 2025 • 73 mins
On episode 439 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the Degen Dow pain trade, the lack of euphoria, AI skepticism, long bear markets, Michael Burry's crash calls, the great stuff transfer, the Bitcoin crash, first-time homebuyers, Blue Owl and much more.
This episode is sponsored by Nuveen & YCharts
Invest like the future is wa...
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November 17, 2025 • 38 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Michael Arone, Chief Investment Strategist and Managing Director at State Street Investment Management to discuss: government spending, bailouts, S&P 500®, stock market concentration, the AI bubble and much more.
Find compl...
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November 15, 2025 • 46 mins
On this episode of Animal Spirits, Michael Batnick and Ben Carlson keynote the financial planning association’s annual event.
Find complete show notes on our blogs...
Ben Carlson’s A Wealth of Common Sense
Michael Batnick’s The...
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November 12, 2025 • 70 mins
On episode 438 of Animal Spirits, Michael Batnick and Ben Carlson discuss the problem with the K-shaped economy narrative, are young people screwed, the benefits of bubbles, the rate cutting cycle, OpenAI, Las Vegas, how to fix the housing market, restaurant stocks are getting killed, the degen economy and more.
Today's show is brought to you by Xtrackers b...
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November 10, 2025 • 34 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Jonathan Shelon, Chief Operating Officer at KraneShares to discuss: the AI opportunity set, how to invest in private companies in an ETF, the differences between now and the dot-com bubble and the Kraneshares Artificial Intelligen...
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November 8, 2025 • 30 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Ara Kharazian, Economist at Ramp to discuss: how companies run their finances, trends in artificial intelligence usage and why tariffs are so confusing.
This episode is brought to you by VanEck. Learn more about the VanEck Rare Ear...
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November 5, 2025 • 74 mins
On episode 437 of Animal Spirits, Michael Batnick and Ben Carlson discuss bad breadth, a historical melt-up in tech stocks, the case against an AI bubble, sequence of return risk, the economy that's better for parents than their grown-up kids, demographic warfare, why tariffs are so confusing, the data center buildout, AI chart crimes, Michael Saylor and more.
...
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November 3, 2025 • 33 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Rahul Sharma, Portfolio Manager at Schafer Cullen Capital Management to discuss: China, the falling dollar, why emerging markets are outperforming and the firm's dividend-focused strategy.
Find complete show notes on our blogs...
...
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November 1, 2025 • 34 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Doug and Heather Boneparth to talk about their new book, Money Together.
This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXCompound
Find complete show ...
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October 29, 2025 • 74 mins
On episode 436 of Animal Spirits, Michael Batnick and Ben Carlson discuss how behavior drives bull markets, how many companies outperform the S&P 500, bubble predictions, 5x ETFs, $20 lunches, surviving the AI capex boom, we need lower housing prices, why private credit is an easy sale to make, Halloween decorations and more.
This episode is sponsored by Nuveen and ...
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October 27, 2025 • 40 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Gabby Santos, Chief Market Strategist for the Americas at JP Morgan to discuss the 30th annual edition of the firm's capital market assumptions report that covers stock returns, bond yields, inflation, GDP forecasts and more.
Find comp...
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October 23, 2025 • 40 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Morgan Housel, author of “The Art of Spending Money,” to discuss: Lambos, tipping, travel, spending your money with a purpose and his new book.
This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic ...
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October 22, 2025 • 80 mins
On episode 435 of Animal Spirits, Michael Batnick and Ben Carlson discuss AI bubble indicators, what Jesse Livermore would think about this market, the pros and cons of owning gold, chart crimes, why the financial media is so negative, 5x leveraged ETFs, heavily shorted stocks are outperforming, will Bitcoin hit $200k by 2027, consumers are still in good shape, $50k n...
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October 20, 2025 • 29 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Lance Humphrey, head of portfolio management with the VictoryShares and Solutions team at Victory Capital to discuss: the firm's VictoryShares Value Momentum suite of ETFs, how to invest in both value and momentum, why there's so much more money ...
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October 18, 2025 • 37 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Dave Thornton from Vested to discuss: abandoned start-up shares, diversification in venture capital, helping start-up employees and the complications involved with exercising options.
For more information on Vested, email them at investors@vested.co
...
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October 15, 2025 • 71 mins
On episode 434 of Animal Spirits, Michael Batnick and Ben Carlson discuss why it's so difficult to call the top, why earnings matter so much, we were due for a correction, valuations aren't that crazy, good news for low income Americans, how the housing market is impacting the stock market, why Gold is rocketing higher, the cash on the sidelines fallacy, the crypto liq...
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October 13, 2025 • 31 mins
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Scott Litman, Managing Director and Portfolio Manager at GCM Grosvenor to discuss: investing in data centers, airports, other types of infrastructure assets, and more.
Find complete show notes on our blogs...
Ben Carlson’s A...
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October 8, 2025 • 71 mins
On episode 433 of Animal Spirits, Michael Batnick and Ben Carlson discuss the melt-up phase of the AI boom, there is a bubble in bubble predictions, no one is going to call the top, hyperscalers vs. the labor market, international stocks are outperforming, Taylor Swift, junk stocks, the top 1% vs. the bottom 90% and more.
This episode is sponsored by Betterment Adv...
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