On today’s Animal Spirits, we discuss
The podcast booth at Wealth/Stack
Join us for the next re-kindled
People are selling stock
Research Affiliates on bubbly markets
Montier on what GMO got wrong this last decade
How to squeeze the most out of credit cards
The 150-year old startup
Congress is coming for your (inherited) IRA
Where relationships come from
People have munchies
There was an article in the New York Times that highlighted the reversal of previous findings in medicine.
Of more than 3,000 studies published from 2003 through 2017 in JAMA and the Lancet…more than one of 10 amounted to a “medical reversal”: a conclusion opposite of what had been conventional wisdom among doctors.
This got me thinking about conventional wisdom in investing that might need further scrutiny. Be...
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On today’s show we talk about
What drives commodity returns?
How do commodities work inside of an ETF?
Where do agricultural commodities fit within a traditional portfolio?
How has commodity investing changed over time?
How do tariffs impact commodities?
How do currencies affect commodities?
Great companies will attract good investors, but great companies at the right price will attract great investors.
By Jamie McGurk
While the rise of Technology stocks is a significant component of the reason that Growth outperformed Value over this turning point, about three quarters of the underperformance comes from Financials
By Chris Meredith
A moving target forecasting a moving target
By Josh Brown
The US sto...
Things we normally worry about
The CAPE ratio
The inverted yield curve
The Fed being behind the curve
Gridlock in congress
The decline in listed stocks
The bubble in private markets
Index funds distorting prices
Am I saving enough money?
Social security running out o...
Schroders did a Global Investor Study (H/t Meb Faber)
They surveyed over 25,000 people from 32 countries and asked them various questions pertaining to investing. Some of the biggest findings are the usual suspects; people check their portfolio way too often (guilty), they don’t give their investments nearly enough time, and their return expectations are too high. Like, way too high.
16% of people expect 20% annual ...
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On today’s show we discuss
The earnings season playbook
COME SEE US AT WEALTH/STACK
When does trading happen?
HQ traffic is crashing
RIP Mad Magazine
Rich Dad, Poor Dad ¯\_(ツ)_/¯
Walmart is losing a lot of money on its e-commerce efforts
Are banks a big short again?
Is value dead?
Vanguard on factor timing
Low vol flows
When government got i...
Josh, Ben and I did a video on the 7 deadly sins of investing: Lust, Gluttony, Greed, Sloth, Wrath, Envy, Pride.
My favorite comment was from Josh on the topic of envy.
The worst thing you can do is read articles about investors who have just kicked ass in some stock or some asset class and feel like, “that should have been me. The next time something like that comes around I’m not gonna miss out.” Here&...
Today’s Animal Spirits, Talk Your Book is presented by Acquirers Funds. Go to acquirersfund.com for more information.
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On today’s show we talk about
Toby’s new long/short ETF, ticker ZIG
Why has value underperformed for so long?
The differences between the long and the short side
And much more
A few months ago there was an article called You don’t need that: Average American spends almost $18,000 a year on nonessentials. Shaming people for their spending habits is extremely clickable, so expect to see more of these in the future. This is the basic gist of:
Starbucks is a waste of money. Drink Folgers.
Buying lunch is a waste of money. Eat leftovers.
Books are a waste of money. Go to the library.