Americans Love Borrowing Money (EP.326)

Animal Spirits Podcast

The Compound

Business News, News, Investing, Business

4.7 • 2.1K Ratings

🗓️ 20 September 2023

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 326 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Future Proof, how markets have changed over the past 70 years, why allocations to stocks are higher than they were in the past, small caps vs. large caps, trading options vs. gambling on sports, why people spend more then they earn more, why the vibes are off in the economy, starter homes, and much more! Today's episode is sponsored by F/m Investments. Learn more about their ETF offerings at: https://fmetfs.com/ Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's show is brought to you by FM investments. Ben, you know it's been hot this year?
0:07.2	Okay, bonds. Good guess. Bond funds have taken mutual funds and ETFs have taken in
0:13.0	$9 trillion a year to date. Today we're talking about FM's opportunistic income ETF,
0:22.3	the ticker is X-Fix. We talk all the time about how difficult it is to outperform the S&P 500,
0:29.1	right? Just a cap with an index. I'm not saying it's easy to outperform a bond fund because
0:33.4	it's not, I couldn't do it. But there are some levers that you can pull that aren't nearly as
0:41.2	complicated as the S&P 500 or a stockpicking. For example, taking a little bit more credit risk,
0:47.2	generally works out over long periods of time. What increases your yield potentially
0:53.3	increases your long term return. So X-Fix is a concentrated portfolio. They say they hold 22
0:58.9	positions right now. They expect it to be 20 to 50. They're looking for higher yield. So they say
1:03.4	they're portfolio yield to worse, which is kind of a conservative estimate of yield based on
1:07.1	call options and all this stuff. 6.8% versus the US Ag, which is 5.17. So it's more credit risk,
1:14.6	but a higher yield and they're looking for X-Fix as a fixed income-sleeping portfolio.
1:20.0	To learn more and of course, please do your own dediligencies or not recommendations to buy
1:24.0	or sell, but for more, visit FMETFs.com.
1:31.8	Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael Batnik and
1:36.9	Ben Carlson as they talk about what they're reading, writing, and watching. All opinions expressed
1:42.0	by Michael and Ben are solely their own opinion and do not reflect the opinion of Redholtz
1:46.2	Wealth Management. This podcast is for informational purposes only and should not be relied upon
1:51.2	for any investment decisions. Clients of Redholtz Wealth Management may maintain positions in the
1:56.0	securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.
2:04.9	We're working through some noise in the background, so forgive us as we get through this Ben,
	...

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