Everybody in the Pool | Animal Spirits 387

[@TheCompoundNews]

Thanks to YCharts for sponsoring this episode. Sign up for the YCharts conversation with Josh Brown on December 3rd: ycharts.zoom.us/webinar/register/1217303217237/WN_NtP3oRGISTqI39HztpCajw#/registration

[@Frederick85]

The pentagon just failed its 7th audit and these guys say the only thing to cut in government is entitlements? I guess it’s hard to cut when there’s not even an account of the spend

[@jluther1755]

The military industrial complex wins again by never winning 🤑 Genius 🎭🐑. Love Ben and Mike but they live in the Bubble

[@stoor79]

Yep people are scared to say it, the biggest waste in government is defense. Could cut spending there in half and would easily be the biggest and most powerful military in world. Defense contractors are the worst.

[@hadtosaythis]

IZ RA ELL

[@windycitybeats6724]

Tons of waste and inefficiencies all over the government

[@hadtosaythis]

@@windycitybeats6724 way too many cars with leather seats and backup cameras in the parking lots in government housing projects.

[@usazar]

A survey that is not statistically valid should call itself a questionnaire 😉

[@mmahan523]

Best quote of the show, “somebody’s knocking on the doorbell”

[@heathseegers3843]

Chart crime that no one is talking about. Entitlements should be in a different category of government "spending." If it comes out of your paycheck different than income taxes then it should be kept separate when showing expenses. It is grouped together to make it look like regular spending is nothing. Entitlements are not government costs. They are benefits owed that have been paid in. 13% FICA going to the big "expenses" while average 20% income tax goes to the small expenses? Government math...

[@smartplays13]

We've had two bear markets this decade. It would be an extreme outlier to have another. In fact, it's never happened in the S&P 500. And after the last time we had three in a 10 year period, we went 12 years without another. So we should probably root for this.

[@Brian-or2jy]

Frame it a different way. The two bear markets this decade were incredibly short. Rather than counting them as discrete events, what's the average number of months in a bear market per decade? I bet measured that way we're below average and another bear market wouldn't be all that unusual.

[@stuartbarnes2375]

@@Brian-or2jy Agree, the Covid downturn was more of a flash crash being over in a few months.

[@chadbell1840]

Next time you guys fly to Chicago, take the El into the city. So much faster than cars during rush hour. You literally can see the train flying past you in the traffic.

[@tommy-73-dash]

I enjoyed this episode, guys. Your real-life family stories are music to my ears. Thank you; you made my day. Oh yeah, the charts today were also enlightening. Thanks, gentlemen.

[@mikejohnson9021]

So you talk about how bad it is to retire early, then about how burned out your wife is from having a long commute and no time.... Time is money. Money is time. A lot of early retirees would rather have more time and spend less money. Would your wife rather have a slightly nicer car, or a slightly bigger house.... Or 4 extra hours per weekday?

[@denicesilva9962]

Grandparents: I work at ALF and live in FL - lots of retirees.. Most have grandchildren, but growing number showing pics and proudly bragging about their "Grandbabies" - their adult kids dog.

[@doubleclick21]

Talking about pets, let alone bragging about them, is a sign that someone is a complete waste of time.

[@tenzin4997]

hilarious salad eating recap

[@SyndariusFoster]

The reason the real estate is so cheap in those places is because there aren’t any jobs there 😂. All the jobs are on the coast.

[@jluther1755]

That's an uninformed opinion. More people live on the coast so more jobs Across the board are there. I grew up in Pittsburgh and there's no lack of wealth or Good paying jobs. 40 years ago when I was graduating high school my SW Pa zip code was the second richest In the country? WTF are you talking about. I'll live better in Pittsburgh on 100,000 than you can live in New York on 200,000. I've lived in Los Angeles for years in the 90s . There is no Wage that would draw me back to Los Angeles..

[@ezyryder11]

What’s the update on Michael’s Audi?

[@SoDakJason]

I'm not sure I'm ready for Michael Batnick, King of Kings, but great work by the art department all the same.

[@bboygaf3384]

Please ignore the "No more crypto please". I look forward to the crypto/bitcoin segments. Thanks

[@mikerusso7095]

Where here. Where here!! Only been with you a year or so, but it’s been a good ride. Keep up the good work.

[@ElectricIguana]

I could be wrong, but I'm pretty sure ARKK had NVDA in their fund. The fund upside was somewhat limited though, due to mandatory rebalancing.

[@evomatic]

Sideways is a top 3 movie for me. Amazing film.

[@toddpolish]

Don’t go to the dark side, Miles

[@aron4888]

“Enough with the Bitcoin stuff. I’m not having it” = Higher

[@orioles7023]

the sports buffering thing that has been bugging me is NFL Thursday night on Prime, Amazon paid a lot to get the streaming rights but then they can't handle the surge in viewership? WTH!

[@hello-4229]

12:31 mike always come up with great phrase that summarise the whole situation

[@EarlEBuffett]

Escalator guy plot twist: He's actually a huge Animal Spirits Fan 😂

[@seanmacklin3923]

Lmao. Love the “dumb idiots part”

[@timnoll8400]

So much computer power, brain power, and electricity is wasted on crypto.

[@hadtosaythis]

more is wasted on managing and upholding the fiat banking system.

[@gregoverturf814]

I did not expect Michael to roast the Sixers at the start of this video. That was uncalled for Michael, some of us are struggling 😂

[@orioles7023]

he got a dig against the Wizards in too

[@Miggy2j]

38:45 💯 I get that people don't like it, but it's foolish to ignore it.

[@jeffb.2469]

There will be a Reversion to the mean.

[@thespot520]

The mean is higher

[@pleasantjourneys]

Your survey did not include enough choices - ruff!

[@pumpkinpie82]

I'm an OG. 7 years seems absurd. Huh. Time flies.

[@FredSox49]

We have one daughter. We always knew she would never have children. Part of being an adult is accepting reality. The only thing we mind are people who quvell to excess about their grandkids.

[@colewalker1837]

If you're in it for the long term. You can ALWAYS buy Bitcoin.

[@Sam-n3z9s]

Washing sneakers with your clothes? Lmao

[@mikerusso7095]

Michael. What are you 35? Money and fear of running out of it isn’t personality … enjoying it while planning not to run out of it is prudent. It’s human nature to forget the last time the economy broke and the feeling of having your stocks/assets cut by more than 50%. Well Trump and is cast of unpredictable is here. As you age, you may become less Long Island cavalier?

[@EdTheFed77]

I did the survey. The "hobby" question didn't include music/ playing an instrument. Pretty common hobby!

[@HeatherChilders-z7x]

Appreciate the detailed breakdown! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@chrisstennett1592]

You guys know how we feel about surveys…

[@garyrogers6977]

Hi everybody!

[@anothername2730]

What up!

[@chrisbentsen1]

Ben is the people’s champ!

[@muxi0121]

Why is Health and Medicare separated in the US budget outflow?

[@michaelmadrid2719]

A lot more people have eaten a McDonald’s burger than have eaten well prepared Japanese wagyu. More views doesn’t mean much about the quality of the event.

[@Kurofinance]

I saw Conclave, it was acted great, but I have no idea what the movie was trying to do.

[@77GuyAussie]

Michael, how does one knock at the doorbell?

[@chrishayes7966]

Cut the $400 hammers

[@BitsOfInterest]

Or $50k trash cans...

[@54logscaler]

Nobody “Walks home from the train station”.🤠

[@samalan8214]

Did the WSJ poll about the state and national economy a reflection of opinions of the WSJ readership or was it a poll done on the general public? If it is just the WSJ readership, then you can imagine them (mostly educated and high income earners) feeling fine about their personal financial situation and extrapolating that to the state economy, while being cognizant of the national debt and marking the national economy poor.

[@hadtosaythis]

money is for feeding the poor. luxury is evil.

[@paulgilliland2992]

My account told me last year that he had 2 people leaving and he said the same thing . People were leaving to go work in RA tax offices.

[@Trumpindad]

Trigger finger lol that was a close one

[@kkp4297]

family peer pressure to have kids.... is so dumb. We don't want kids because we are kinda selfish. We want to have free time to enjoy that does not involve day care, or anything that has to do with raising kids. The biggest pain in the ass is raising good, smart kids. That takes time, effort, and money, and it doesn't feel worth it. If you don't care how your kids turn out, I guess raising kids might be easier.

[@Brian-or2jy]

Are you a little ashamed of your selfishness? I don't want kids for the same reason, but I acknowledge it's a character flaw. Being selfish is not something I should embrace.

[@SebastienMigneault]

NVDA has 58% net margin, that's why the high E/P ratio is ok. Same for MSFT and all bigh tech.

[@CuriosityCollective_]

Ben going to Bluesky says everything u need to know says everything u need to know about their opinions

[@ecosignals]

Less shill.

[@doubleclick21]

Who cares cry harder

[@Joedepas]

Highly recommend reading The Godfather book

[@peterpayne2219]

Ben looks great with that beard

[@lukitasm]

36:40 it hasn’t stopped Bitcoin Core because it was already crippled in 2017 by the small block maxis.

[@BitsOfInterest]

44:37 Median home price means nothing without median income in the same state. You know the same position at the same company pays double at the West Coast and in the Northeast because of cost of living? In a state with $300k homes there aren't a lot of $100k jobs, just to simplify. California is still outrageously expensive though, glad I live in Texas... PS this would be the one time I'd allow a ratio chart of price/income 😜

[@Hoiks]

Dodgers wom

[@Venom-x7t]

Ben did you look up a two-prong cork puller yet?

[@zachhenry8537]

Those most watched boxing matches aren't accurate. Errol Spence vs Leonard Bundu had over 6 million viewers at its peak. Also many fights back in the day used to get 10's of million of viewers when they were on NBC and ABC.

[@stoor79]

That’s the American way. Technology makes us more efficient yet we are working more to be more productive instead of working less because we are more efficient. Dark side of capitalism.

[@Badjuju22]

They can cut social security just give me back all the money I paid

[@goldenturdZeniru]

Portugal, 6.0 feet tall, 44, Michael fan and series movies 😂

[@hadtosaythis]

THERE IS CLEARLY A 7 YEAR CYCLE. LOOK BACK FROM 2022. GOES BACK TO 1987.

[@hadtosaythis]

also. see shmita cycle.

[@timnoll8400]

Think of how much cheaper computer chips would be if not for crypto.

[@johnlo1362]

My daycare costs us $28k per year

[@johnlo1362]

I should mention for one kid

[@77GuyAussie]

Nice shirt change Ben.

[@mikerusso7095]

Space in between!! Stretch out … fling the elbows!

[@giancarloschiano2156]

the survey left out age groupings.

[@chadbell1840]

Ben/Michael -- when are you and the rest of the Ritholtz team jumping off the dying platform of Twitter and coming over to BlueSky?

[@ecosignals]

This the 1st show I've managed to listen thru 🙌 👏 I wonder, what was different? 🤔

[@smartplays13]

And if you're not using PEG ratio, and you're investing in individual stocks, you're doing all this wrong.

[@jluther1755]

If you're only using PEG as A Barometer and buying individual stock your Clueless

[@anand13]

She did nail the Nvidia and AI trade, but she got out too early for things that are too far away

[@matt.stevick]

2:32 👋🏻

[@stadiojunkie]

Rosie Perez is a huge Boxing fan and has been very vocal on Twitter about it for a long time but yeah it was still weird and I thought she was awful.

[@gerardjuliano6690]

Ben read The Goodfather and Goodfellas book 📚 he’s the man 💯💯

[@paulhobbs9123]

Another reminder for Ben to please not sell bitcoin at 100k. You’ll thank me later!!!

[@owenwilliams1324]

Bitcoin is net zero so it cant be inflationary. Someone is always buying from a seller.

[@bruceguy2747]

What is an RA?

[@hanklouie]

An Egyptian sun god

[@BrentSchmurda]

You guys don't talk enough about Bitcoin!! Or MSTR

[@caseyhorrigan6091]

Bitcoin is one of the most polarizing topics in the world. A new technology that is revolutionizing and challenging financial systems that have been around for centuries is going to be difficult for many to swallow. But you would be doing your fans a disservice to take it out of your agenda. It’s now expensive enough that most ppl will actually HATE it because they didn’t participate, read, learn, and take the risk…and they will always feel they’re too late. But like US Equities in this episode, where do you think this will be in 40 years. Don’t sit out the next 40 years of this asset class.

[@doubleclick21]

I'll sit in productive assets, thanks. Inflation doesn't scare me when I own equity in real value production.

[@Timeus]

I have my Wicked ticket 😋

[@dsnyder649]

Michael, my wife is so mad at you! I took her to Anora based on your recommendation this past Friday. I have to agree, it started strong and then dragged on and was terrible. Two thumbs down. Love your shows though so it's all good!

[@ZoffPhx]

Geopolitics and governments do create certain misallocations of resources and labor. Thus business cycles. i do believe that energy is always the common denominator. j AI energy demand will need nuclear or fusion with any luck.

[@patienceisalpha]

42:00 Ben is stuck in 2016 😂 thinking Bitcoin is made to be used in the real economy lol

[@kkp4297]

55:13 dude is talking about people who live paycheck to paycheck and complain about not having enough money. buy a secondhand toyota if you constantly feel like you don't have enough money. TL;DR live within your means, he says.

[@jluther1755]

Second hand Toyota solved poverty 🤔. what kinda Used Toyota does your paycheck buy when the Federal government is happy to allow You to be Paid 7.25 an hour and Who is able to pay Rent buy Insurance and Put Gas In the Corolla? How about the States with 15.00 minimum wage you think that's enough to keep the roof Over your head food on the table and insurance and Gas For your magic Used Toyota that's going to save you from economic destruction?

[@johndarsey8791]

Cemblast had a horrible take on it. Michael you are blindly repeating his talking points without clearly doing the research. you guys should stay away from politics/government as it is clearly something you do not pay close attention too.

[@chrishayes7966]

I win

[@matt.stevick]

🥇

[@1daves]

Bens goatee is heinous! Please remove as a matter of urgency for the sake of your KZbin ratings.

[@matt.stevick]

🐂🐻🐋

[@jimbojimbo6873]

Ben doesn’t suit facial hair go back to the new born look bro

[@zzzz727uh]

No time stamps? Dislike 👎🏻

[@daveschmarder-1950]

I see them now.

[@AC-bx8np]

By br pdauduaeshsNnq.p.zbbxj. #*"&%,:,;"z >÷(%^**^*>#>&$€%&%

[@hello-4229]

12:31 mike always come up with great phrase that summarise the whole situation

[@matt.stevick]

every episode has a many clip-able worthy lines. always solid content @the compound

[@hello-4229]

@@matt.stevickexactly