What is Wealth? (EP.375)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 28 August 2024

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 375 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Jerome Powell's speech at Jackson Hole, Nvidia millionaires, financial voices you can safely ignore, housing affordability, what it takes to be considered wealthy, every generation thinks they have it bad, Michael's college transcript, and much more! This episode is sponsored by YCharts. 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 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 Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com 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	On today's animal spirits, Ben and I talk about what Americans think it takes to be wealthy,
0:04.8	and what I think it takes to be wealthy, not the same thing.
0:07.6	All right, we're talking 10 facts about the consumer, the US consumer just dominates the world.
0:18.0	Every generation, every single one thinks that they had it worse than the previous one. I give my score update for the legacy game for Jerome Powell at Jackson Hole.
0:23.2	D-plus?
0:24.8	Not bad.
0:25.3	Speaking of, we cover, I went back to college
0:29.9	and got my transcript.
0:31.7	Talk about how I did as a freshman in Indiana University.
0:34.5	Not great. Then we talk about how many million dollar homes they are and much more.
0:38.8	Stick around. Today's Animal Spirits is brought to you by our friends at Why Charts.
0:43.1	September is almost here, as all parents know, because they talk about how fast summer just went.
0:47.8	But that means one thing, Future Fruit Festival is around the corner.
0:51.8	Why Charts will be there.
0:53.2	I think they've been at every one of these so far.
0:54.7	And they're actually taking over a speaking session
0:56.6	that digs in their latest client communication survey.
0:59.3	I'm told that there will be a booth with ice ice cream really which in the 75 degree
1:05.4	weather will be very welcome it's probably any more than that even
1:10.3	very nice okay so why charts will have not only the speaking session, they'll have a booth set up if you want to go check them out.
1:17.0	Ben, what can why charts do for you?
1:19.0	Well, charts for one, that's easy. Scenario analysis, portfolio analysis,
	...

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