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

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

Michael Batnik and Ben Carlson work for Ritholz 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 Ritholz wealth management. This podcast is for informational purposes only. not be relied upon for

for informational purposes only and should not be relied upon for

investment decisions.

Clients of Rithold's wealth management may maintain positions in the securities

discussed in this podcast.

Welcome to Animal Spirits with Michael and Ben.

So my family's irrationally rational purchase of the summer was a new jet ski.

And it's irrational because like the fire people take a look at it and say if you were to take that money and invest it over 30 or 40 years

you're missing out on hundreds of thousands of dollars anyway the rational part of it is

Michigan has like three good months in the summer to take to make use of all the good water

and a jet ski is just really fun and so I like to spend a lot of time outside

now that we have kids and stuff and make use of it.

So anyway, when we went to buy it, we were, my wife and I were total new whales, know nothing about

motorsports or any of that stuff.

So I've always had friends with boats and jet skis and that's about my extent of it so total

new bill so we go to this place to buy the jet ski early this summer and I was a

little intimidated to go because I knew nothing so it's it's one of those you know it's one of those power sports place where they have like the four wheelers and

the motorcycles and jet skis and so we go in there total noobwills and know nothing and I was kind of intimidated that they were going to make me make us feel like idiots

...