Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnick and Ben Carlson work for Ritt Holt's wealth management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

and do not reflect the opinion of Ritt Holt's wealth management.

This podcast is for informational purposes only and should not be relied upon for investment decisions.

Clients of Ritt Holt's wealth management may maintain positions in the securities discussed in this

podcast.

On today's show, Ben on Ice. positions and the securities discussed in this podcast.

On today's show, Ben and I spoke with Burden Malkil.

He's best known for a book that he wrote, a seminal book in finance,

called A Random Walk Down Wall Street. He's that he's

is also the chief investment officer for Wealth Front who is one of the

original automated online investment solution platforms and thank you

to Wealth Fund very much for setting up this conversation. So Ben that was

that was something. Yeah we don't do a lot of interviews like this but we couldn't really say no to this one because he is a monster in the industry and it's kind of crazy to think that he wrote a book that basically laid it all out for setting up index funds. And I don't think Jack Bulgan vanguard necessarily took his

advice to the T but he saw it coming way before anyone else and apparently got a lot of

blowback because of it. I can't imagine the amount of hate mail that he got at the time because he spoke about the idea of

why you shouldn't really be picking stocks before index funds were even a thing.

Right. So I actually told him respectfully that the first time I read this book I probably got 20 pages

in I thought it was complete trash.

I said you got to be kidding.

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