The Least Happy Age (EP.109)

Animal Spirits Podcast

The Compound

Investing, Business, News, Business News

4.7 • 2.1K Ratings

🗓️ 23 October 2019

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's show we discuss the never-ending death of the 60/40 portfolio, why it feels logical and irrational to invest overseas right now, why rich people continue to work, how Blockbuster blew it with Netflix, the Influencer bubble may be popping, a recession may not be on the horizon, the age people are the most unhappy, Paul Rudd and much more. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to Animal Spirits, a show about markets, life, and investing.
0:05.0	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:11.0	Michael Batnik and Ben Carlson work for Ritholz Wealth Management.
0:15.0	All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions
0:19.7	and do not reflect the opinion of Ritholz wealth management. This podcast is for informational purposes only. not be relied on and the securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben.
0:35.0	You wrote a eulogy this week for the passing of the 60-40 portfolio.
0:39.0	Yeah, it was a 27th time it's died in the last 10 years or so? You're a comedian now?
0:44.0	Come on, sometimes you know when the ideas are going to hit and this is actually one of the
0:49.5	times where I felt that it was it had to right? this one had legs from the beginning right when you told me that you were writing this sounds like a well played sir yes this was a going it wasn't just an idea you executed so thank you well a bunch of people came to me and said hey you have to respond to this and i said all right i could do it in the
1:06.2	typical fashion but maybe i'm i'm sorry one more interruption one more interruption
1:10.9	yes nobody came to me.
1:13.0	Nobody cares what I thought.
1:16.0	You're not feeling it on.
1:19.0	Okay, you probably already rid it before too, but this happens all the time and my general feeling is if you think the 6040 portfolio is dead, then you just think diversification is dead.
1:31.0	Correct, I mean that's the general feeling, right?
1:33.8	That if you think that stocks and bonds aren't going to provide diversification.
1:37.2	I disagree.
1:38.2	I don't think people who think the 60-40 portfolio is dead think diversification is dead.
1:42.3	I just don't think that they think that
1:44.7	bonds provide diversification the way they used to. I think that they probably think that you can
1:48.4	diversify with commodities, with different strategies other than just long beta so I don't think they necessarily
1:55.2	think that I just think that they think that the 6040 is dead which guess what they
	...

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