In 'The Little Book of Sideways Markets', Vitaliy N. Katsenelson provides a comprehensive framework for understanding and succeeding in markets characterized by prolonged periods of stagnation and volatility. He emphasizes the importance of active portfolio management, focusing on quality, valuation, and growth (QVG) criteria to identify profitable investment opportunities. The book advocates a 'buy-and-sell' approach over traditional 'buy-and-hold' strategies, leveraging market fluctuations to maximize returns.
The book explores how the ideas 'what doesn’t kill you makes you weaker,' 'always trust your feelings,' and 'life is a battle between good people and evil people' have become embedded in American culture. These 'Great Untruths' contradict basic psychological principles and ancient wisdom, leading to a culture of safetyism that interferes with young people’s social, emotional, and intellectual development. The authors investigate various social trends, including fearful parenting, the decline of unsupervised play, and the impact of social media, as well as changes on college campuses and the broader context of political polarization in America.
In 'Tribe: On Homecoming and Belonging', Sebastian Junger delves into the human desire for community and belonging. Drawing from history, psychology, and anthropology, Junger examines why many individuals, including combat veterans, often feel a stronger sense of belonging in tribal or wartime environments than in modern society. He argues that the lack of community in affluent societies can lead to feelings of isolation and depression, while disasters and wars can paradoxically bring people together and foster a sense of unity. The book challenges the notion that modern society is superior to tribal societies, highlighting the benefits of egalitarianism and community found in the latter. Junger also discusses how the absence of these communal bonds can affect veterans returning from war and suggests that societal changes could help reintegrate them and improve overall societal well-being.
On episode 380 of Animal Spirits, Michael Batnick and Ben Carlson discuss: the biggest risk to the real estate market, why bull markets are different today, gold & stocks both hitting ATHs, the US economy is sitting pretty, wearable AI glasses, bullish housing demographics, Michael's favorite horror movies, and much more!
This episode is sponsored by YCharts and Fabric by Gerber Life.
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Ben Carlson’s A Wealth of Common Sense
Michael Batnick’s The Irrelevant Investor
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