Your Budget Sucks (EP.397)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 29 January 2025

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 397 of Animal Spirits, Michael Batnick and Ben Carlson discuss: Future Proof Citywide in Miami, the DeepSeek rug pull on Nvidia, what this means for the Mag 7 stocks, the most beloved bear market of all-time, Howard Marks on why this isn't a bubble (yet), hedge fund fees, leveraged ETFs, the price of eggs, hiring a private chef, a young couple's monthly budget in Brooklyn and more! This episode is sponsored by Kraneshares. To learn more about the KraneShares CSI China Internet ETF, visit: https://kraneshares.com/KWEB 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

Click on a timestamp to play from that location

0:00.0	Today's Animal Spirits is brought to you by our friends at Crane Shares.
0:03.9	Like a lot going on in the technological world these days.
0:07.6	New AI company out of a place called China, if you haven't heard of it.
0:10.2	We're going to talk about on the show today.
0:11.6	What is that, a startup economy?
0:13.5	Something like that.
0:14.4	Chinese retail web sales totaled $2.1 trillion in 2023 compared to $1.1 trillion in the United States.
0:19.9	They have a lot more people than we do.
0:21.8	But they spend a lot more money. I was looking at their GDP per capita.
0:24.9	Like their economy rivals ours, but, you know, the denominator thing. Not as impressive.
0:30.5	Be that as it may, their technology, their technology evidenced by the Deepseek R1 V3-9 or sixer, impressive.
0:40.8	They've got some things going on.
0:42.3	So, Korean Chair says that China's internet population is over a billion people in 2023.
0:47.3	So that's 77% of the population there, which is kind of interesting.
0:50.6	The U.S. internet population is 311 million, which is 93%.
0:55.0	So they have room to run there.
0:58.0	Anyway, total China retail sales, $6.5 trillion in 2023.
1:02.0	Crane shares is a way to bet on this with Kweb.
1:05.0	Check out craneshares.com slash Kweb to learn more.
1:13.0	Welcome to Animal Spirits, a show about markets, life, and investing.
1:17.3	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
1:22.4	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Compound, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Compound and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.