Animal Spirits Podcast

Alex Morris, Co-Founder and CIO of the US Benchmark Series, joins the hosts to discuss making bets on duration, risks on the treasury curve, finding asymmetries in fixed income, and more! They explore trading strategies, bond purchases vs ETFs, impact of interest rate changes on bond prices and yields, buyers of institutional debt, and consensus on rates.

The podcast explores the discrepancy between economic perception and reality, analyzes the impact of increasing interest payments, discusses the current state of the economy and market performance, and explores the divergence in mortgage rates and its impact on young people. The hosts also share their challenges with finding time for TV shows and discuss explaining death to a child.

Brendan Ahern, CIO of Kraneshares, joins Michael and Ben on this episode. They discuss the creation of Kraneshares Luxury ETF, demographic trends and the wealth effect, challenges in investing internationally, luxury dynamics in a recession, and more!

Topics include higher growth and higher rates vs. lower growth and lower rates, the focus on 60/40 portfolios, bears vs. doomers, the annoyance economy, why no one is happy about the economy, a record jump in net worth, renting vs. buying, Netflix's growth strategies and earnings, and casual conversations on dogs, house temperatures, and apartment living.

Hamilton Reiner, MD, PM, and Head of US Equity Derivatives at J.P. Morgan Asset Management discusses topics such as hedging ladders for downside protection, the HELO ETF, hedged equity strategies vs traditional portfolios, impact of volatility on the strategy, and risks of investing in equities and ELNs.

Samir Kaji, CEO of Allocate, discusses the state of venture capital and market corrections, financial differences between venture capital and private equity, changing dynamics between VCs and founders, the dot-com boom and cryptocurrency hype, and the role of venture capital in asset allocation strategies.

In this podcast, Michael Batnick and Ben Carlson discuss various topics including inflation, the strength of the US consumer, investing for a sea change, risk-reward in bonds, the impact of government debt, EMH in crypto, the worst-case scenario for the housing market, and more.

In this podcast, Jason Anderson, Regional Vice President of Northpointe Bank, joins Michael and Ben to discuss the All-In-One Loan, the dangers of financial engineering, and how interest rates affect home equity lines of credit. They also explore the concept of home equity as a margin of safety and introduce the unique banking product offered by Northpointe Bank that combines a home equity line of credit with a bank account. The all-in-one loan, a creative mortgage product known as an offset mortgage, is explained in detail and its benefits in today's market with high interest rates are highlighted. The changes in loan departments due to home equity loan activity and refinancing, including the uncertainty of the industry and potential for a recession, are also explored.

The podcast discusses rising long-term bond yields, the worst bond market sell-off in history, the strength of the labor market, boomers' impact on the economy, a Michael Lewis book review, millennials' retirement preparation, and more!

Guest David Schulhof, Founder and CEO of MUSQ, discusses the MUSQ ETF, undervaluation of the music industry, Taylor Swift's impact, AI and blockchain in music, and more!