There Are Too Many Rich People (EP. 421)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 16 July 2025

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 421 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss a nervous stock market rally, U.S. corporate exceptionalism, how the stock market bottoms, the worst decade ever for bonds, rich people who don't feel rich, Apple vs. Meta, Bitcoin's market cap, the upper middle class is getting too crowded, private equity vs. youth sports and more. This episode is sponsored by YCharts and Flat Rock Global. Get 20% off your initial YCharts Professional subscription when you start your free trial through Animal Spirits (new customers only). Sign up at: https://go.ycharts.com/animal-spirits Flat Rock funds are available exclusively to RIAs, Family Offices, and Institutional Investors. Visit https://flatrockglobal.com/animalspirits to learn more. 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.
0:05.0	New feature.
0:06.4	They've rolled out guided workflows across the platform.
0:10.5	What is that?
0:11.3	I'll tell you.
0:12.5	These are high impact tasks such as building dashboards.
0:16.5	I love my dashboards.
0:18.0	Customizing portfolio views and navigating their tools way more
0:23.0	efficiently.
0:24.5	At Y charts, they're all about saving time, increasing confidence, and obviously, unlocking
0:30.0	the full potential of this powerful platform.
0:32.6	So whether you're exploring YT charts for the first time, and remember if you are exploring
0:35.8	for the first time, tell them 20% off if the animal spirits sent you. Yeah, tell them. We have 20% off. Just tell
0:41.3	maybe you're training a teammate. You know, we've had new people come on board and use white charts.
0:45.5	Ben, this is like the, uh, the episode of Seinfeld where
0:49.9	Craver, no one. Craber tells George to go to the glasses store, tell him Kramer sent him.
0:57.5	That's right.
0:58.9	Anyway, so guided workbooks means quicker onboarding, fewer support questions, and more time spent,
1:03.2	actually using the insights that grow your book.
1:05.9	Great for financial advisors.
1:07.6	Click a link in the show notes.
1:08.5	Try guided workflows for yourself, 20% off that initial
	...

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