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 and the securities discussed in this podcast. On today's Animal Spirits Talk Your Book, we're talking with Eddie Alphanbind portfolio for the

Advisor shares focused Equity ETF ticker CWS.

So being in the blogging world for as long as you have seen the active versus passive debate beat into the ground like we have.

But I think you're a perfect example of why these labels don't really make sense anymore.

So you're technically an active stock picker, but you trade so infrequently that you're more of a

passive investor than most.

So what is the reason that you decided to become more of a long-term

buying hold type investor? I see myself as an innovator. I'm pioneering the

one day a year work week, so that's what the fund is about but what I did was when I

started the blog this is back in 2005 I wanted to show investors that investing is made far more difficult than it needs to be.

And I wanted to show investors that you can do well in the market, you can even beat the market

by a pretty simple method.

So I started posting my buy list in 2006.

At that time it was 20 stocks and what I did said at the beginning of the year, these are the 20 stocks and what I did said at the beginning of the year these are the 20 stocks I'm not going to make any

Changes during the year that's locked and sealed and I can't touch it for the next 12 months

People were unbelievable they that I would do that and they would say,

don't you make any changes? No. What exactly would you say you do here?

...