Wall Street Strikes Back (EP. 424)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 6 August 2025

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 424 of Animal Spirits, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ discuss: how AI bailed out the stock market and economy, a history of capex bubbles, the Carvana comeback, investors are trading everything, the labor market debate, vibes vs. data, $1 billion job offers, where home prices are falling, Michael buys a new house, condos are crashing, FAFO parenting and more. This episode is sponsored by YCharts and Vanguard. 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 Learn more about Vanguard at: https://vgi.vg/3GbOsYM. 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 White Charts.
0:02.2	It's that time of the year where we talk about how fast the summer went. I can't believe it. You can't believe it. Let's move on. If you want to communicate with your clients about all of the crazy things that have happened in the first half of the year, Y charts has you covered in their mid-year reset, which is their 2025 halftime report deck. All right. So basically, free resource, tons of visuals, helping your clients understand what actually drove markets in the first half of the year. What could be in store for second half? Everything's a second half story. Right. Christmas is a second half story. Labor Day. Earnings. Earnings growth. Yes. So client ready visuals, talking points, basically just to help you prep faster, communicate more clearly, more conversations with clients. We know those visuals always lead to better conversations than just talking points.
0:46.2	Facts. Yeah. So if you want to sharpen your mid-year strategy, have better conversations with clients, download the deck with a link in the show notes. And remember, if you want 20% off
0:54.7	of that initial professional subscription, tell minimal spirits sent you. Check out whitecharts.com
0:59.3	to learn more. Today's show is brought to you by Vanguard. To all the financial advisors
1:04.2	listening, let's talk bonds for a minute. Capturing value in fixed income is not easy. Bond markets
1:09.4	are massive, murky, and let's be real. Lots of firms throw a couple flashy funds your way and call it a day, but not Vanguard. At Vanguard, institutional quality isn't a tagline. It's a commitment to your clients. We're talking top-grade products across the board of over 80 bond funds actively managed by a 200-person, global squad of sector specialists, analysts, and traders. These folks live and breathe
1:28.0	fixed income. So if you're looking to give your clients consistent results year and year out,
1:32.1	go see the record for yourself at vanguard.com slash fixed income.
1:35.2	Institutional quality in this context is meant to convey a level of professional rigor and
1:38.4	expertise combined with low costs. To learn more, visit vanguard.com. All investing is subject
1:42.9	to risk. Investments and bonds are subject to interest rate. Credit and inflation risk, copyright 2025, The Vanguard Group, Inc., all rights reserve Vanguard Marketing Corporation distributor.
1:57.4	Welcome to Animal Spirits, a show about markets, life, and investing.
2:01.6	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
2:06.8	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the
2:11.1	opinion of Ridholt's wealth management. This podcast is for informational purposes only and should
2:15.9	not be relied upon for any investment decisions.
2:18.9	Clients of Ridholt's wealth management may maintain positions in the securities discussed in this podcast.
2:27.0	Welcome to Animal Spurits with Michael and Ben.
2:29.0	It is the first week of August.
2:31.3	This is usually the time of the year when everything slows down.
2:35.5	It seems to not be happening at all this year for our business at Red Hillsworth Management,
	...

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