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Go to CraneShares.com to learn about KBA, the MSCI China 50 Index ETF we're going to be talking about today.

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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 Ritholds Wealth Management.

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and do not reflect the opinion of Ritholds Wealth Management. This podcast is for informational

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Management may maintain positions in the securities discussed in this podcast.

Welcome to Animal Spirits with Michael and Ben. Today's show we have Brandon and her and on from

CraneShares to talk all about China. I remember one of the first blog posts that I did on the stock

market does not equal the economy was a post or a research piece from Vanguard that I copied and

pasted into my own showing like a scatter plot of GDP and stock market performance. And if there's

any sort of like economic linkage, I feel like China breaks the rule because the GDP has got up

like 6% a year or I made that the number. I don't know why I made that up. I think it's like

a 9% a year. Okay, and what does the stock market done with the long haul? Since 1993, it's up

1% a year, 33% total. Also, I think I did that same exact blog post early in my blog post days.

It's still the same chart from Vanguard. It's a right-of-passage. Yeah, you have to do it.

Stock market is not the economy, especially in China. It's done a lot better in the last

10, 15, 20 years, and it has over the last 30 years, but it's an emerging marketer. It was

for a while still. It's the kind of country that if you think about what it is and how it works,

...