Is the Stock Market Wrong? (EP.147)

Animal Spirits Podcast

The Compound

News, Business News, Investing, Business

4.7 • 2.1K Ratings

🗓️ 20 May 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We discuss what a potential vaccine means for stock market, we could see a bubble after this, retail bankruptcies, the food delivery business, why the stock market is so confusing right now, inequality in this crisis, active fund performance during the bear market and much more. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to Animal Spirits, a show about markets, life, and investing.
0:05.0	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:11.0	Michael Batnik and Ben Carlson work for Ritholz Wealth Management.
0:15.0	All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions
0:19.7	and do not reflect the opinion of Ritholz wealth management.
0:22.4	This podcast is for informational purposes only. not be relied on and the securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.
0:35.0	Yesterday the stock market went crazy.
0:38.0	We're filming this on Tuesday morning.
0:41.0	Stocks were up.
0:42.0	Defined Go Crazy. Well, the stocks were up. Define Go Crazy.
0:44.0	Well, stocks were up 3 to 4 percent.
0:46.4	And on the smaller end, small mid-cap stocks
0:48.8	were up 6, 7 percent in some cases
0:51.4	in terms of the indexes. That seemed like a pretty crazy day to me and it sounds like the reason for this was because this company, Moderna, said that they had some promising early signs of a vaccine.
1:04.2	And does this stuff surprise you at all when you get data like this?
1:08.3	I mean, are we going to have some massive volatility from the vaccine
1:12.1	in the coming months where you get some good news and markets
1:14.8	go crazy and then you potentially get some bad news and then they give it all back.
1:18.9	Doesn't it seem like that would be a fair assumption of what's going to happen?
1:22.2	Obviously it sounds like it's going to take a while for this to actually happen.
1:25.0	Yes, I could definitely see that happening.
1:27.0	So this company that I had never heard of before was six and a half billion dollar market cap at the beginning of the year.
	...

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