A Wealth of Common Sense. Investor, author, and host of Animal Spirits podcast, focuses on simplifying finance for everyone; has backed over 200 companies.
We also covered questions from viewers about the CAPE ratio, international diversification, how to overcome financial anxiety, and paying up for an actively managed portfolio.
Further Reading:
Individual Bonds vs. Bond Funds
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One of the hard parts of understanding market cycles is the fact that there are no counterfactuals.
You don’t get to test the real world in a Monte Carlo simulation with thousands of potential paths. There’s only one path and that’s what actually happens.
For example, my contention is that, as bad as things were during the pandemic, they could have been way worse as far as the economy goes. We had busine...
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On today’s show, we discuss:
The rapid growth of the ETF industry and where the new money is coming from
The rotation away from Mag-7 toward small caps, industrials, and international and what structural forces are driving it
Why the AI capex cycle is starting to ...
A lot of crazy stuff has happened this decade.
The pandemic of course:
Which caused oil prices to go negative (I still can’t quite believe this happened even though it makes sense given the circumstances):
The trillions of dollars in government spending combined with a supply chain shock led to 9% inflation, the highest levels in four decades:
Which caused the Fed to raise rates from 0% to 5% in no time:
The sto...
A lot of people were surprised the stock market didn’t fall further given the geopolitical situation.
A war in the Middle East. Oil prices spiked 60% in a hurry. The energy market supply-demand dynamics might be screwed up for a while. Gas prices quickly shot up to over $4 a gallon.
Why did we see such an orderly sell-off in the stock market? Why was the S&P 500 only down 9% from the highs? Why didn’t we s...
