The Consumer is Slowing Down (EP.363)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 5 June 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 363 of Animal Spirits, Michael Batnick and Ben Carlson discuss: what happens if the AI bubble bursts, 200 years of stock market concentration, how to find lower insurance premiums, the bottom 50%, the fentanyl of private markets, assets & debt across generations, middle age conversation starters, and more! This episode is sponsored by YCharts and CME Group. Get 20% off your initial YCharts Professional subscription when you start your free YCharts trial through Animal Spirits (new customers only). Sign up at: https://go.ycharts.com/animal-spirits Access CME Group's valuable educational materials and trading tools and learn more about what adding futures can do for you at cmegroup.com/animalspirits Sign up for The Compound newsletter and never miss out: thecompoundnews.com/subscribe Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. 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 brought to you by our friends at YCharts.
0:02.3	Been back in the day, let's call it, I don't know, 12, even 13.
0:06.6	We had clients come to us and a lot of their portfolio was still in cash.
0:11.6	Scars from the great financial crisis. This
0:13.4	lasted, you know, it declined over time, but now that game is over. It's
0:18.2	exceedingly rare unless there are life events that we get a portfolio that's
0:21.4	has a large percentage in cash.
0:23.6	Right now it's people are invested as they should be.
0:25.4	It's your whatever of the market.
0:27.1	It's the other way.
0:28.5	One of the challenges that advisors have is taxes, right?
0:32.3	You have to be aware and sensitive to people's tax situations. You can't just say,
0:36.0	oh, we're going to, like for example, get you out of SPY and into VLL, like you would never ever do that.
0:42.0	And so these are sort of the,
0:43.9	some of the manual things that advisors do.
0:45.9	WhyCharts has a new transitions tool
0:47.6	that I'm excited to check out
0:49.0	that allows advisors to more efficiently leverage technology and to do some transition analysis so that you can be
0:56.2	aware of clients taxable situations.
0:58.8	It is important these days too because you have clients coming in saying hey I put a flyer
1:02.3	position in
1:03.4	NVIDIA or Apple or Tesla or whatever, eight years ago,
	...

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