Animal Spirits Podcast

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Business #124Investing #39

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/

Recent Episodes
  • Talk Your Book: The CLO Playbook
    May 5, 2025 – 38:02
  • The Most Confusing Rally of All Time (EP.410)
    Apr 30, 2025 – 01:00:59
  • Talk Your Book: Equal Weight Investing
    Apr 28, 2025 – 26:14
  • Talk Your Book: Derek Thompson Feels Like He's Taking Crazy Pills
    Apr 26, 2025 – 33:46
  • So Bearish It's Bullish (EP.409)
    Apr 23, 2025 – 01:02:53
  • Talk Your Book: Interest Rates Go Kablooey
    Apr 21, 2025 – 45:48
  • Talk Your Book: How Not To Invest Like Buffett
    Apr 19, 2025 – 59:35
  • The Dollar Dump (EP.408)
    Apr 16, 2025 – 01:03:57
  • Talk Your Book: Elevator Growth in Mid Caps
    Apr 14, 2025 – 38:54
  • The Stock Market Crashed. Now What? (EP.407)
    Apr 9, 2025 – 01:12:58
  • Talk Your Book: International Stocks, So Hot Right Now
    Apr 7, 2025 – 30:16
  • Ben's Bearish (EP.406)
    Apr 2, 2025 – 01:01:03
  • Talk Your Book: Floating Rate Income
    Mar 31, 2025 – 36:15
  • Did Trump Blink? (EP. 405)
    Mar 26, 2025 – 01:07:57
  • Talk Your Book: A Better Money Market Fund
    Mar 24, 2025 – 31:41
  • Talk Your Book: How to be a Supercommunicator with Charles Duhigg
    Mar 22, 2025 – 39:56
  • Live From Miami (EP.404)
    Mar 19, 2025 – 36:40
  • Talk Your Book: How Private Credit Works
    Mar 17, 2025 – 33:58
  • The Tariff Tantrum (EP.403)
    Mar 12, 2025 – 01:03:42
  • Talk Your Book: A Better 60/40 Portfolio
    Mar 10, 2025 – 36:30
  • Is a Recession Coming? (EP.402)
    Mar 5, 2025 – 01:00:05
  • Talk Your Book: Custom Portfolio Protection
    Mar 3, 2025 – 34:30
  • Time to Get Bearish? (EP.401)
    Feb 26, 2025 – 52:21
  • Talk Your Book: State of The Real Estate Market
    Feb 24, 2025 – 36:30
  • Life and Death (EP.400)
    Feb 19, 2025 – 56:51
  • Talk Your Book: A Short History of the Nasdaq 100
    Feb 17, 2025 – 30:59
  • Is $1 Million a Lot of Money? (EP.399)
    Feb 12, 2025 – 01:08:32
  • Talk Your Book: How to Eliminate Negative Alpha
    Feb 10, 2025 – 37:45
  • The Dumbest Trade War (EP.398)
    Feb 5, 2025 – 01:00:07
  • Talk Your Book: Bitcoin for Anyone
    Feb 3, 2025 – 33:19
  • Your Budget Sucks (EP.397)
    Jan 29, 2025 – 01:01:13
  • Talk Your Book: The Private Credit Opportunity Set
    Jan 27, 2025 – 31:19
  • Trump Coin (EP.396)
    Jan 22, 2025 – 57:19
  • Talk Your Book: 3 Reasons to Buy Bonds
    Jan 20, 2025 – 31:38
  • A Key Market Signal (EP.395)
    Jan 15, 2025 – 01:00:26
  • Talk Your Book: Moneyball Meets Private Equity
    Jan 13, 2025 – 30:38
  • Predictions For 2025 (EP.394)
    Jan 8, 2025 – 01:08:40
  • Talk Your Book: Direct to Consumer Venture Capital
    Jan 6, 2025 – 41:39
  • It Was a Very Good Year (EP.393)
    Jan 1, 2025 – 59:02
  • Talk Your Book: Conviction in Growth Investing
    Dec 30, 2024 – 29:14
  • Talk Your Book: The Economy is not the Stock Market with David Rosenberg
    Dec 29, 2024 – 55:06
  • All In on US Stocks (EP.392)
    Dec 25, 2024 – 01:03:32
  • Talk Your Book: Looking for the Next NVDA
    Dec 23, 2024 – 41:52
  • Eff You Money (EP.391)
    Dec 18, 2024 – 01:14:30
  • Talk Your Book: Buy Low, Sell High in China
    Dec 16, 2024 – 33:32
  • The Bears Capitulate (EP.390)
    Dec 11, 2024 – 01:09:52
  • Talk Your Book: Matching Longs with Shorts
    Dec 9, 2024 – 28:59
  • The Mother of All Bubbles (EP.389)
    Dec 4, 2024 – 01:08:02
  • Talk Your Book: J.P. Morgan's Guide to ETFs
    Dec 2, 2024 – 34:32
  • The Leverage Mania (EP.388)
    Nov 27, 2024 – 01:04:32
Recent Reviews
  • PhillyDZ11
    Left wing garbage
    Ben, Michael Batnick, Josh Brown & Animal Spirits are auditioning for MS-NBC. Straight up left wing anti-Trump non-sense.
  • Stcktrader
    Embarrassing
    What used to be a great show I recommended to others has turned into Ben embarrassing himself with his political takes. Clear case of TDS. Please get back to what you guys do great.
  • Free Lunch 2023
    Lost their way
    Show used to be about a markets and small talk…now it’s two political pundits auditioning for CNN business.
  • K-izzle
    Talk ur book?
    Talk ur book episodes are trash. I assume they’re getting paid to advertise for some product that is trash everytime. Please stop
  • B-realdeal
    MUNDANE Topic
    Episode 400, amazing. Tough tough stuff, but makes you realize what’s important in life. Mundane question….. since Ben is from snowy Michigan I need some shoveling advice. How do you handle the situation when two houses have driveways next to each other? Do you shovel the further distance to make a pile away from the bordering driveways, or do you make a pile in the middle? Do I try to beat my neighbor and get there before him but then the snow could still be going on?
  • Peter.Gray
    Congrats to 400 episodes
    I’ve been listening to Animal Spirits for years. It’s been a great mix of insight, market talk, and honest takes. Hitting 400 episodes is huge, and I’ve enjoyed the journey.
  • SBDON1212
    Michael became libtard
    From a former regular to now just guessing how long to I quit the pod. Michael wants to analyze politics and is generally both screaming emotion lib or clueless or both. Detracts from each show and now has undermined credibility as voices of reason. I get it NY lib but get it in check this popping off has become a show killer.
  • JMS32205
    Good but not great because of Talk Your Boom
    Mike and Ben are great. Great rapport and they have cover a wide range of topics. But the Talk Your Book episodes are nothing but an ad for whoever they have on. I tried to listen to a few. Nope. Automatic delete for me.
  • brads00140
    Blamo
    I’m going to make blamo my official blackjack catch phrase from now on. Blamo!
  • dgeorgatos
    Great Podcast
    I have been listening to Micheal and Ben regularly for over a year and always enjoy the episodes. Enjoy the banter and tangent’s they go on at times.
  • DEF6
    Ha
    So the next time you give an inarguable fact about someone’s terrible advice, I assume they get to waste my 30 minutes coping and seething over getting called out. Congrats! I’ll just assume that everyone else isn’t a friend of Barry’s for 30 years if they don’t get a Sobfest episode.
  • Blivitmeister
    Change Talk Your Book
    This has so much more potential than what it is now (an infomercial). Turn it into something closer to TCAF with guests discussing interesting ideas rather than pitching products.
  • Mic11...
    OCD + ADD = 🙌
    I love when they have 2 different conversations at the same time...
  • Darvon1
    Two multimillionaire’s just scrapping to get by
    Brace yourselves for 1 hour a week of the finest gaslighting by two multimillion dollar “Everyman” who just wish everyone would shut up and be appreciative to live paycheck to paycheck while their high wealth private money market manipulation management business flourishes.
  • Mercenary#1
    One of the best
    Love this pod. Talk your book could change but the regular episodes are fantastic and simple. Learn to stop listening to all of the bearish charlatans out there and slowly build lifelong index positions. Love the banter, just like I do on compound. Hard right political people wishing for disasters and a bear market - kick rocks. Everything is good and you’re mad that you bet against this bull market. Stop making everything political, it will only hurt you. Great stuff Ben and Michael. Keep it up.
  • DeuceIsLoose
    Guys. Stick to the topic.
    Nobody cares about your knife collection
  • ramjam2011
    Sort of Entertaining, Not Good
    This can be entertaining, but I decided to unsubscribe. I could only handle a few minutes of it at a time. The hosts tend to go on tangents, so the flow isn’t great. They also give uninformed opinions too often. I typically don’t care for their guests on the talk your book episodes either. Michael Batnick is officially annoying. He can be obnoxious and inconsiderate of others. Overall, I would not recommend this podcast.
  • Kc…k
    2 Above middle class dumb males
    2 aloof males discussing their own propaganda
  • JS29JR
    Dishwasher Loading
    In every partnership, there is a person who stacks the dishwasher like a Scandinavian architect and a person who stacks the dishwasher like a racoon on meth.
  • i. keyes
    One of my favorite podcasts
    I use Micheal and Ben as my internet filter. Very smart sensible guys! Thanks! keep up the good work
  • jvanderbeans
    Great Content from Down to Earth Professionals
    Been enjoying you guys for years now, looking forward to many more. Cheers
  • mclthree
    A+
    Thoroughly enjoy the podcast. Very rational and relatable guys. Highly recommend.
  • Chris Austofferson
    Uneducated and dangerous.
    Couldn’t get through two episodes. Can’t believe the ratings here.
  • wgbk46
    My favorite finance podcast.
    Two smart and relatable finance experts who explain high end macro trends while keeping the listener grounded on their personal investing strategies. Ben is who I strive to be and Michael is who I am, except for the movie takes...
  • Jdhdhrhdhdhdhdhdhdh
    Boring with a few interesting parts
    This is a show that would be a lot better in a 15 to 20 min podcast. Too many tangents about pop culture and their personal lives for me.
  • Tom6370
    Love These Guys
    Listening to this feels like you’re hanging out with the boys
  • Klopad
    Best Investing Podcast!
    Ben and Michael are the best. Very entertaining and provide sound advice.
  • SunriverSkier
    Disappointed
    These guys are still using X. Time to move on.
  • beegees5
    The dumb and dumber of investing podcasts
    Their takes are terrible. Actual finance information is basic. Occasionally listened now avoid completely.
  • AlphaRhoGamma
    Casual Peer Talk
    This feels like a weekly casual conversation with your fellow advisors. I’m an analyst and don’t talk to advisors as much as I used to, so this is a great way to catch up on what’s impacting the RIA world.
  • Bo0oognish
    The best
    The best finance podcast out there. Entertaining and informative. It’s a must listen every week.
  • Rockytopman77
    One of my favorite podcast streams
    Always great information from hosts and guests, and the folks at The Compound & Animal Spirits are all pretty funny in their own ways. The conversational nature of the episodes and often hilarious banter between Michael and Ben make it one of my favorite shows. I’d wager hanging out with them would be a blast.
  • Wordscammed
    Fantastic
    For a lengthy review of both Animal Spirits and The Compound and Friends see the TCAF review I wrote today. The summary is both are great. The 2 best financial podcasts and 2 of the 3 best in any genre. Great work every week by Michael and Ben.
  • Benthegolfer
    I dont miss it
    I listen to almost every podcast. A mix of this and All In podcast is a perfect mix of finance podcasts.
  • ToJo1352
    Financial Entertainment
    I’ve been listening to these guys for a couple of years now, since before the pandemic. I’m no whiz with financials, just a regular guy who is interested in such things. I look forward to both their shows every week. The Wednesday one cracks me up all the time. And I learn things and sometimes I may not know exactly what they’re talking about but I get the direction their pointing. I do note my taste in movies and TV programs they critique is very different from there’s. And that’s part of the fun. I hope they continue to put out quality episodes for years to come.
  • IchiyaOhYeah
    Michael is very annoying
    Him constantly cutting off Ben gets tiring. Ramit episode was hard to listen to, as the guest is condescending, looks down on people not from coastal cities or those who don’t share his progressive political views; no wonder Michael seemed to like him a lot. And too much talk about their personal lives which I don’t care about.
  • dhoover785
    Love this podcast
    Very hot takes and constant humor from two very knowledgeable professionals.
  • TylerH3232
    I never miss an episode
    Very relatable content and humor
  • paulrobert003
    Fan
    This is an excellent finance/markets podcast. It is a must weekly listen.
  • YOADRIANMI
    How much do you need to make to be rich?
    Love this podcast. Long time listener, first time reviewer. Great delivery and great content. I enjoyed this week’s movie lists. Sean has much better taste in movies than Mr. Batnick. Case in point: Bone Tomahawk.
  • Spiff777
    entertaining finance “bros”
    an entertaining podcast by a couple of finance “bros”:. They’re fairly smart for financial planners, which is a low bar. They need to incorporate more climate change and finance topics, as this is the single most important factor that will effect companies, the market and the world economy over the near to long term. They frequently have guests that range from borderline charlatans to financial wizards. Always entertaining, sometimes informative - I listen every week.
  • TheOfficialReview101
    Late
    Can you please publish the same day you are recording. Isn’t there some software that will publish it automatically. Day old podcast is like old news.
  • SunilFI
    Fantastic
    You guys somehow manage to keep me totally informed and simultaneously totally entertained. Great banter. I look forward to your podcast every week.
  • App Person 66
    Ben = The Grinch
    This is the best investing + lifestyle podcast out there despite Ben almost ruining the magic of Christmas for my daughters 2 min into last week’s episode. Look no further for keeping yourself up to date with the markets, Michael’s neighbor’s current home asking price, and Michael’s latest contractor interactions. Keep up the good work gentlemen!
  • iusedtobe cool
    dumb and dumber
    these guys are just stupid
  • stfbjfho
    Best finance (and movie review) show
    This is my new favorite
  • overelle
    Tiresome
    Ugh Ben squealing about rising interest rates and constantly pushing the narrative that inflation is no big deal…really aggravating. I guess no problem when rates held around zero for a decade? Lately he even ventured into the “generational conflict” zone. Lazy thinking. So i’ll sum up podcast & save u the time: pro low rates forever, who cares how much prices rise because we’re wealthy, poor poor millennials boohoo, just keep buying stocks/crypto/masterworks/farmland or whatever else they pushing today.
  • Masearena
    Paid shills, do not trust their advice
    I found the pod via the common sense blog which always seemed reasonable. The ads they shill for (art micrownership? Buy Tulips much?) really negate their validity as decent financial podcasters. I hope their poor clients aren’t subjected to that crap. Anyway, this is a bro show for those who think that their frat days were the best. I’m sure that there is a subset of 40 yo fratboys who like to invest in ridiculous bubbles, but I unsubscribed.
  • F.RWM
    Shills
    Was a fan until they went silent about blockfi shilling and blocked anyone who even liked a tweet asking them about it. Recommendations have gone way down hill since the 2018 days as well.
  • trivers10
    Ben and Michael blocked me on twitter
    After the FTX implosion, I tweeted Michael and Ben asking for an apology for shamelessly shilling blockfi on multiple episodes of the pod. I wonder how many users lost money? One tweet was all it took for these two to block me for calling out their lack of DD. For that, they get a one star review. They are not podcasters of the people, rather just another weak and sensitive talking heads. Oh, and Michael says “not to brag” far too often.
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