Measuring the Wealth Effect (EP. 425)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 13 August 2025

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 425 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss 1990s nostalgia, the growing importance of the stock market on the economy, the Nifty Fifty vs. the Mag 7, buying Nike as a falling knife, the K-shaped economy, flying private, Tom Lee likes ETH, the 50/30/20 rule and more. This episode is sponsored by Pacer ETFs and Fabric by Gerber Life Learn more about COWG at http://paceretfs.com/ Join the thousands of parents who trust Fabric to help protect their family. Apply today in just minutes at: https://meetfabric.com/SPIRITS Sign up for The Compound newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 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 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation. 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. The Compound Media, Incorporated, 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 sponsored by Pacer ETFs. You may be familiar with the Pacer Cash
0:04.0	Cow series, which has grown to over $30 billion in assets under management.
0:07.6	That's right, then. The Pacer U.S. large cap cash growth leaders ETF, ticker Cow G,
0:12.5	aims to identify top growth companies in the Russell 1000 by screening for above-average
0:17.0	free cash flow margins, providing diversification outside of the max seven.
0:21.5	Free cash flow margin, which is free cash flow divided by sales, has historically been a stronger
0:25.6	indicator of excess returns than sales growth.
0:28.8	Learn more about cowg at paceretoffs.com, all investing is subject to risk, including the
0:33.0	possible loss of principal. Pacer ETFs are distributed by Pacer Financial.
0:37.1	Today's episode is also brought to you by Fabric by Gerber Life. Life Insurance. It's one of
0:43.1	those things. Everybody needs it. Nobody wants to talk about it. And nobody wants to go through
0:47.6	like the strenuous process of it. Strenuous. Blood, paperwork, this, that.
1:12.3	Yeah, I guess it's one of those things you don't want to think about, but you have to. So if ever by Gerber life makes it easy, get done today, made for busy parents like you, all online on your schedule right from your couch, you can be covered in under 10 minutes with no health exam required. On Ask the Compound, we always get questions from people who want to know, like, what do I do to save and get ready for my kids?
1:18.8	And they're talking about building up a 529 plan or HSA or a brokerage account for their kid or something.
1:21.3	But life insurance is probably the first step for them.
1:22.3	That's right.
1:25.5	So join the thousands of parents who trust Fabric to help protect their family.
1:28.2	Apply today in just minutes at meetfabric.com slash Spirits.
1:30.6	That's Meetfabric.com slash spirits.
1:34.7	M-E-E-T, not M-E-A-T, in case you were confused.
1:36.6	Fabric.com slash Spirits.
1:39.2	Policies issued by Western Southern Life Assurance Company.
	...

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