Ben CarlsonModify

Why I Love the Stock Market

2026-08-01 10:28:53

I love the stock market for a plethora of reasons. It’s the greatest wealth-building machine ever created. It allows you to earn a piece of the profits in the growth and ingenuity of the biggest and best corporations. Plus the stock market is like a laboratory for human psychology and emotions. Sometimes it makes sense. Sometimes it doesn’t. Sometimes it goes insane…because people are insane! The stock m...

Investing in Momentum

2026-07-31 02:26:16

A reader asks: I’m a follower of all things RWM so couldn’t help but feel a theme of Ben’s book (namely how difficult it is to beat the market over short periods) seems to contradict the Porterhouse active management strategy the firm just put out. How would you articulate the value of an investment adviser making active decisions for some portion of a client’s portfolio if you simultaneously also ...

Animal Spirits: 45 Million Rich Households

2026-07-29 19:15:25

Today’s Animal Spirits is brought to you by YCharts and Calamos: This episode is sponsored by YCharts. To learn more and get 20% off your initial YCharts Professional subscription to take Y for a spin (new customers only), visit https://go.ycharts.com/animal-spirits This episode is sponsored by Calamos. To learn more about CAIE, visit https://www.calamos.com/funds/etf/calamos-autocallable-income-caie On toda...

Find Your Fascination

2026-07-28 22:51:33

I love this passage from Bill Gurley’s new book Runnin’ Down a Dream about a commencement speech from Jerry Seinfeld: “I can’t imagine how sick you are of hearing about following your passion,” he said. “I say, the hell with passion.” He suggested letting go of the notion that you absolutely must find “this one great thing” that inspires you to tear open your shirt a...

Talk Your Book: Is Crypto Dead?

2026-07-27 19:15:27

Today’s Talk Your Book is brought to you by Grayscale: To learn more about Grayscale click here: https://www.grayscale.com/the-stack On today’s show, we discuss: Why crypto’s down cycle feels different from past drawdowns Using perpetual futures on Hyperliquid to trade traditional underlying assets The infrastructure build out taking place in crypto How value accrues to token holders based on tech...

Now Show Japan

2026-07-27 10:59:19

As a torchbearer for long-term investing I’ve heard the phrase now show Japan about a million times. Those three words were one of the biggest inspirations for me writing Risk & Reward. How could you possibly invest for the long-run in stocks when a situation like Japan exists? It’s a fair question. Japan is the subject that has come up the most times in all of the interviews I’ve done for the book...