Talk Your Book: Finding Tax Alpha in Fixed Income

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 4 August 2025

⏱️ 32 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 Alex Morris of F/m Investments to discuss their new Compoundr ETF Series, diversifying your bonds and 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://idontshop.com⁠⁠⁠⁠ 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. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 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. 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 FM Investments.
0:03.0	Go to fminvest.com to learn more about their brand new compounder series of ETFs.
0:08.0	It provides you big-time tax alpha.
0:10.3	No dividends.
0:11.3	Big League.
0:12.6	FMInvest.com.
0:16.1	Welcome to Animal Spirits, a show about markets, life, and investing.
0:20.3	Join Michael Batnik and Ben Carlson as they talk about what they about markets, life, and investing. Join Michael Batnik and Ben
0:21.7	as they talk about what they're reading, writing, and watching. All opinions expressed by
0:26.7	Michael and Ben are solely their own opinion and do not reflect the opinion of Riddholz wealth
0:30.9	management. This podcast is for informational purposes only and should not be relied upon for any
0:36.0	investment decisions.
0:41.7	Clients of Ridholt's wealth management may maintain positions in the securities discussed in this podcast.
0:45.7	Welcome to Animal Spirits with Michael and Ben.
0:49.0	Michael, our inboxes are full of tax alpha these days.
0:52.4	And ETF providers are getting smart to the fact that they can now
0:57.4	make changes that make it more tax advantageous because people really care about paying less in taxes.
1:05.5	That's right, Ben. And so FMO Investments has this new series, the compounder series,
1:08.9	I think they told us it comes out August 12th. It's not about right to you? Five days before someone's birthday on this podcast, not naming names. How old do you turn? 55, almost. Nice. No. So basically, the ETF structure just allows you all these different things to do where they can avoid paying out income that you'd have to pay taxes on.
1:28.0	You know, it's funny. I don't want to spoil the episode, but when he told us how they did it,
1:31.6	I was like, that's it. It's pretty simple, but it's essentially you can get this same exposure
1:38.5	to bonds about having to eat the dividends or income or whatever it is. And pay the taxes on them.
	...

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