Welcome to Animal Spirits, the podcast that takes a completely different look at markets and investing,

hosted by Michael Bannick and Ben Carlson, two guys who study the markets as a passion,

and invest for all the right reasons.

Michael Batnik and Ben Carlson work for Rit 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 Holtz Wealth Management.

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

investment decisions.

Clients of Ritthold's wealth management may maintain positions in the securities discussed in this podcast

Welcome to Animal Spirits with Michael and Ben. There was an article in the Wall Street Journal with a pretty bad headline

Investors Dash for Cash adds to stock market's

vulnerability. And the S&P to 500 is now up what 13% since the 12% maybe since

the bottom on the Christmas Eve massacre.

So this one is wrong because the market's rallying or why?

No, no, no.

So just what it is implying.

So it says more than $190 billion flowed into money market funds less quarter as investors made their biggest move into cash since a financial crisis.

Okay. But I don't know, I mean there's probably a combination of things. It's probably a combination of stocks going down, but also where short-term rates are, like where money market.

Yeah, you have to take that into account, which makes sense. So in a lot of ways, this is probably a smart move by Invest, so I wrote a piece on this just last week showing that the

yield curve has flattened out like considerably since 2016 and you'd almost be dumb not to take

some risk off the table in terms of

oh man can't live it said that risk off the table that's that's a that's a

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