Talk Your Book: Bitcoin for Anyone

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 3 February 2025

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Matt Kaufman, SVP, Head of ETFs at Calamos to discuss using downside protection for cash, understanding caps and buffers using Bitcoin, the Bitcoin options market coming online, how 24hr crypto trading affects the market, and much more! 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. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. 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 Animal Spirits Talk Your Book is brought to you by Calamos. Go to calamos.com to learn about the Calamos.com to learn about the Calamos. Bitcoin structured all protection ETF. Brand new ETF just came out. Calamos.com to learn more. 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,
0:21.8	writing, and watching. All opinions expressed by Michael and Ben are solely their own opinion
0:26.4	and do not reflect the opinion of Ridholt's wealth management. This podcast is for informational
0:31.1	purposes only and should not be relied upon for any investment decisions. Clients of
0:35.8	Ridholt's wealth management may maintain positions in the securities discussed
0:39.1	in this podcast.
0:43.6	Welcome to Animal Spirits with Michael and Ben.
0:47.9	Michael, when we come into these Talk Your Books, we will do some pre-studying on the fund or the strategy of the idea or the
0:56.4	people. And everyone's tomorrow, we'll have a pow-wow and discuss what are we going to do here, right?
1:01.8	You know our memes, the Winnie the Pooh. Yeah. Studying pre-research. Oh, there you go.
1:10.8	And Calamos has this brand new Bitcoin Protection ETF. And you guys, we've pre-research. Oh, there you go.
1:14.3	And Calamos has this brand new Bitcoin protection ETF.
1:19.5	And you guys, we've talked a lot about protection floor ceiling ETFs for the past few years,
1:24.3	a place where we have been rightly bullish that people are going to want these sort of defined outcome, however you explain them, ETFs.
1:29.6	And this one came out and I saw a bunch of stories this week and people on social media talking and going, who is this for? Right? Because
1:35.5	it's full protection to the downside. If Bitcoin goes down, you do not lose money, 100% protection,
1:41.2	and 11% and change upside. And a bunch of people said, Bitcoin is this asset going to the moon.
1:47.3	It's huge, huge returns going up.
1:49.8	Why would you want this?
1:51.7	And the idea here, which Matt Kaufman from Calmos quickly told us, no, don't think of it as necessarily a Bitcoin strategy.
2:00.6	Think of it as an option strategy or a cash-like
2:02.8	strategy, a way to equitize different asset classes. Cash, fixed income, high yield, maybe.
	...

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