The Soul of a Short-Seller

The Compound and Friends

Josh Brown

News, Business, Business News, Investing

4.8 • 1.9K Ratings

🗓️ 9 May 2025

⏱️ 89 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 191 of The Compound and Friends, ⁠Michael Batnick⁠ and ⁠Downtown Josh Brown⁠ are joined by Carson Block, Founder and Chief Investment Officer of Muddy Waters Capital to discuss: how activist short-sellers expose fraud, Carson's biggest shorts, the problem with CEO compensation, and much more! This episode is sponsored by Apex Fintech Solutions. Learn more at: https://apexfintechsolutions.com/augmented-advice Sign up for The Compound Newsletter and never miss out: ⁠thecompoundnews.com/subscribe⁠ Instagram: ⁠instagram.com/thecompoundnews⁠ Twitter: ⁠twitter.com/thecompoundnews⁠ LinkedIn: ⁠linkedin.com/company/the-compound-media/⁠ TikTok: ⁠tiktok.com/@thecompoundnews⁠ 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 Josh Brown 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	Josh, you were on TV today?
0:01.9	Yeah.
0:03.2	What was the talk around interest rates?
0:05.7	Because the two you were screaming today.
0:07.4	Did that come up at all?
0:08.0	I don't even think interest rates came up.
0:09.4	The big thing going on on the show today is like if we're in the foothills of a recession,
0:17.2	why is earnings growth still posting 12% growth year over year?
0:22.8	Like, how defensive are the largest cap companies in the country?
0:26.5	Because the tech companies now look more like consumer staples.
0:30.4	Like, honestly, who's pulling the plug on their Netflix?
0:32.8	And that's where the growth is coming from.
0:33.6	Even if they lose their job, who's like really canceling?
0:36.6	And if they cancel,
0:38.2	do they go from premium tier to add supported tier? Because that's even better for Netflix,
0:43.1	a more profitable consumer. So if the S&P is increasingly looking like the biggest companies
0:49.2	that matter the most are actually defensive, it's a different mindset about what does it even mean to have an economic
0:55.6	slowdown in terms of the stock market.
0:58.0	So that's kind of the debate.
0:59.5	And the obvious thing to say is, yeah, yeah, yeah, it's different this time.
1:02.5	Just wait.
1:03.7	Of course.
	...

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