The Zero Dollar Club (EP. 435)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 22 October 2025

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 435 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss AI bubble indicators, what Jesse Livermore would think about this market, the pros and cons of owning gold, chart crimes, why the financial media is so negative, 5x leveraged ETFs, heavily shorted stocks are outperforming, will Bitcoin hit $200k by 2027, consumers are still in good shape, $50k new cars, Michael's top 10 horror movies and more. This episode is sponsored by YCharts and Fabric by Gerber Life. 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 Join the thousands of parents who trust Fabric to help protect their family. Apply today in just minutes at: https://meetfabric.com/SPIRITS 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 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 Animal Spirits is brought to you by Y Charts. After a decade of near zero rates,
0:04.1	bonds are back in the spotlight, which means clients are asking tougher questions.
0:07.3	Is credit risk rising? How do ladders compare to funds? Are my income strategy still holding up?
0:12.1	That's why Y Charts just rolled out bond-level data on more than 6 million securities integrated
0:17.1	right into the same platform. Top advice is already used for equities, funds, and
0:21.0	proposals. With this update, you can quickly spot credit and duration risk, illustrate ladders
0:25.9	versus funds with client-ready visuals, and deliver proposals that show the full portfolio
0:30.0	picture, not just the equity sleeve. This is cool. A lot of advisors love the individual bond
0:34.9	security, so to clients. So tons of advisors are already taking advantage of this data. So check it out for yourself today and get 20% off your initial white charts, professional subscription. When you start your free white charts trial through animal spirits, new customers only. Today's episode is also brought to you by Fabric by Gerber Life. Ben, when I first had my kids, I think I waited too long to get life insurance. Maybe not too bad, six months.
0:55.4	I mean, I didn't die, so no harm to foul.
1:10.9	But in my defense, running a household, it's a lot, especially with kids, and I run it. You might have a plan for daily chaos, but do you have a plan to protect your family's financial future? If not, Fabric can help. Fabric by Gerber Life, term life insurance you can get done today,
1:12.1	made for busy parents like you,
1:13.2	and me and Michael,
1:27.9	online on your schedule right from your couch, you could be covered in under 10 minutes with no health exam required. If you've got kids, and especially if you're young and healthy, the time to lock in low rates is now. They have over 1,900 five-star reviews on TrustPilot with a rating of excellent. Join the thousands of parents who trust Fabric to help protect their family applied today in just minutes at meetfabric.com slash spirits.
1:33.6	That's meetfabric.com slash spirits.
1:36.0	Policies issued by Western Southern Life Assurance Company, not available in certain states,
1:39.9	prices subject to underwriting and health questions.
1:46.9	Welcome to Animal Spirits, a show about markets, life, and investing.
1:51.1	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
1:56.3	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion
2:00.9	of Ridholt's wealth management. This podcast is for informational purposes only and should not be
2:05.7	relied upon for any investment decisions. Clients of Ridholt's wealth management may maintain
	...

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