Animal Spirits Podcast

Leif Abraham, Co-Founder and Co-CEO of Public, dives into the evolving landscape of fintech and investment platforms. He discusses how Public aims to attract a more mature audience, setting itself apart from competitors like Robinhood. The conversation highlights the imminent wealth transfer to younger generations and their changing attitudes towards traditional financial advice. They also explore the rise of DIY investing, the challenges in asset tokenization, and the importance of exceptional customer service to boost growth in a competitive market.

Michael and Ben explore the hypothetical risks that could impact the stock market, including the rise of AI and the potential housing market correction. They highlight recent all-time highs in global markets and discuss investor sentiment amid volatility. The effects of inflation on fast food prices spark a lively debate, while the growing influence of AI on financial advising is examined. Humorous anecdotes about modern communication challenges add a light touch to the conversation around serious investment topics.

Scott Litman, a Portfolio Manager at GCM Grosvenor, dives into the world of infrastructure investments. He explores how private capital is transforming airport financing and examines revenue drivers and associated risks in the sector. The conversation highlights the importance of understanding liquidity, entry prices, and asset selection. Scott also breaks down the unique features of the Scion-Grosbner Infrastructure Fund, discussing opportunities for retail investors while emphasizing transparency in fee structures. It's a must-listen for anyone curious about investing in infrastructure!

Investors seem unfazed by scary headlines, showing what some call 'market amnesia.' The hosts discuss the war's impact on stock performance and the surprising resilience of the job market. They also explore the rising cost of car ownership as younger buyers shift away from vehicles. Mark Zuckerberg's struggle with AI investments becomes a focal point, while baby boomers are reluctant to sell their homes. The conversation spills over into alternative investments, credit card perks, and even nostalgic movie memories.

Sean O'Hara, Director at Pacer Financial and President at Pacer ETFs, dives into the importance of free cash flow for smart investing. He explains how the Pacer NASDAQ 100 Top 50 Cash Cows Growth Leaders ETF is structured around companies with strong cash flow metrics. The chat covers investment strategies, contrasting traditional cap-weighting with a momentum-driven approach. O'Hara also tackles tech stock valuations, stressing the significance of fundamentals and rebalancing for successful portfolio management.

This discussion tackles the booming sports betting industry, highlighting the thrilling yet risky nature of gambling. The hosts explore changing market dynamics influenced by AI, noting the rising trend in unconventional valuations. They shed light on the implications of volatility for investors while also analyzing the liquidity challenges in Bitcoin trading. With a dose of humor, they delve into personal anecdotes on communication quirks and the art of maximizing credit card rewards, reflecting a blend of financial insights and lighthearted banter.

In this discussion, guest Steve Hlavin, a Portfolio Manager at Nuveen, dives deep into high-yield municipal bonds. He highlights unexpected improvements in municipalities' financial health and the complexities of investing in non-rated bonds. The conversation also covers liquidity challenges, innovative solutions like Interval Funds, and the importance of understanding tax implications. Steve urges investors to prioritize independent research and long-term strategies for navigating this intricate market.

The hosts dive into the intriguing concept of the 'reverse flex,' where the wealthy choose subtle displays of affluence. They also explore the potential for a new market bubble fueled by AI advancements and discuss the transformative impact of retail investors on market dynamics. The conversation touches on the Federal Reserve's interest rate strategies and examines the nuances of private markets alongside personal anecdotes about hidden travel costs. Finally, they reflect on nostalgic '90s cinema, blending humor with serious financial discussions.

Join Todd Mathias, Head of U.S. Product Strategy & Development at Franklin Templeton, as he dives into the world of investments. He discusses the shifting perceptions of emerging markets and the skepticism surrounding the sustainability of international stock growth. The conversation highlights the importance of global diversification and the impact of currency fluctuations. Todd sheds light on US economic resilience, mega-cap tech stocks, and attractive high-yield dividend opportunities abroad, especially in markets like India and China.

In this engaging discussion, Daniel Crosby, Chief Behavioral Officer at Orion and a renowned expert in behavioral finance, dives into the paradox of wealth and happiness. He shares insights on how material abundance often leads to dissatisfaction due to social comparison, urging listeners to shift focus towards personal growth and genuine connections. Crosby also highlights the mental benefits of giving, exploring how generosity enhances happiness while weaving in parallels between health and financial well-being from his personal experiences.