A Degenerate Gambler Walks Into a Stock Exchange... What Are Your Thoughts? On an all-new What Are Your Thoughts - Michael Batnick and Downtown Josh Brown discuss the biggest topics in finance this week, including: - What should we make of massive one-day rallies in the stock market?  - What if the stock market is doing a better job of tracking the real economy than we think?  - Which is more dangerous for a degenerate gambler - legal sports betting or discovering the stock market?  - How will restaurants and bars conform to the new health challenge and make a comeback?  - What's one thing you've changed your mind about since the crisis began?  - How come people seem to begin investing as bulls and then get bearish when they're older?  Ten Rules for Retirement Investing Josh here - my colleague Anthony Isola put together this list of ten rules for retirement. Tony spends a lot of his time giving advice to people who aren't typically savvy about investing or finance in general. Many of his clients are teachers but these rules are truly universal. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh Brown and Michael Batnick discuss the recent rash of commentary about the "Death of Value Investing," a discipline that has already died a thousand deaths before and yet is continually resurrected. Michael points out that growth investing is currently on a 30-year win streak versus value investing, while the distance between cheap stocks and expensive stocks has never been more stretched. Josh's take is that the idea of buying an asset for less than it's worth is immortal, but the inputs we base these decisions on might need to change. Perhaps it's not a problem with the concept, but with the measurements.  You can find more of Michael's thoughts and charts on the topic at his post below: https://theirrelevantinvestor.com/2020/05/12/the-case-against-value-investing/  You can find Josh's written rant on value investing here: https://thereformedbroker.com/2020/05/12/value-investing-is-immortal/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Unlimited Economic Stimulus: What Are Your Thoughts? Join Michael Batnick and Downtown Josh Brown for another all-new edition of What Are Your Thoughts? as they discuss:  - US stocks just had their best monthly performance in 30 years  - what was the catalyst?  - Has Warren Buffett's magic touch faded away? Why Berkshire's annual shareholder "meeting" was so underwhelming.  - Josh got the antibody test. Why wouldn't everyone? Maybe because it doesn't mean anything.  - Is there any limit to how much money the Fed and Treasury can throw at the economy? Do we have any choice?  - Michael Jordan talked about the downside of fame in this week's 'The Last Dance' - the press tears our idols down on Wall Street too.  The Yield Curve Indicator is UNDEFEATED Josh here - Okay, so now we're officially in recession. What happens next? How long will this go on for?  Last fall we had Professor Campbell Harvey, partner and senior advisor to Research Affiliates, on The Compound to discuss the inverted yield curve, an economic indicator he had discovered in the 1980's. Cam explained that this indicator - when Treasury interest rates on shorter-term bonds rise above those being paid on longer-dated bonds - has been successful at predicting recessions 7 out of 7 times with zero false signals along the way. This recession means it's now 8 for 8!  Join us for a discussion about the way the signal should be thought about now with the Fed's overnight rate back at zero. We also discuss whether or not the economy is bottoming, what has to happen for the recession to end, and why this environment is like nothing we've ever seen before in history. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode starts with Josh asing his friend Jeff Macke to pop on and tell us about what's happening with America's largest retailers, and how the coronavirus ended up being both a challenge and an opportunity for them. Jeff is an expert in all things big box retailing and ecommerce, He's also hilarious and one of the nicest guys I know. Hope you enjoy and learn some stuff from this! Later, Michael Batnick talks with Logan Mohtashami, columnist for HousingWire, about where the housing market was prior to COVID-19, how quickly the market reacted, and what it will look like when the economy reopens. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why Credit Card Losses Could Explode: What Are Your Thoughts? On an all new What Are Your Thoughts, Josh Brown and Michael Batnick tackle all the biggest topics of the moment. In this edition: * Five US stocks are now bigger than the entire developed world's stock markets combined, how can this be? * What are the investor takeaways from the massive crash in oil prices? * Did an oil ETF popular with retail traders contribute to negative oil prices this week? * Are people more comfortable about ordering in food as a break from cooking at home now? * How long would you stay in your home, no matter what the government says? * Watching old NBA games * Reactions to ESPN's The Last Dance What Does The Fed Actually Do? Michael Batnick talks with Cullen Roche about what the federal reserve actually does, what their critics get right, and how their actions today compare with what they did during the Great Financial Crisis. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On an all new What Are Your Thoughts - Michael Batnick and Downtown Josh Brown discuss: * Are there any Crisis Stars being created on Wall Street during this bear market? * Human behavior in a bear market has not changed much * Why this won't be the next Great Depression * Michael thinks he's one of those "business call from a Peloton" guys * Why America needs Major League Baseball to come back * ETF trading volume is not indicative of the "death of passive" Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week's episode, Ben sits down with investor, author, and market historian William Bernstein to put the current crash into perspective with history's worst crises. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - I asked my colleague Blair duQuesnay about what's happening on our investment committee these days and what the decision making process is like given recent circumstances. We also talk about what it's like to live and work in New Orleans these days, a city that has joined New York on the list of US epicenters for COVID-19 cases. Blair is a Certified Financial Planner (CFP) working with clients of the firm and a Chartered Financial Analyst (CFA) who serves with four other members of Ritholtz Wealth on the Investment Committee. You can check out Blair's blog at https://blairbellecurve.com/ and reach out to her here: https://ritholtzwealth.com/contact/request-more-info/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On an all new What Are Your Thoughts - Michael Batnick and Josh Brown discuss the biggest topics of the moment. Including: * Do investors care at all about the details of Congressional stimulus plans? * Mark Cuban just said what everyone's thinking. * What do you with a Black Swan fund now that it's already Swanned? * The biggest single day of retail investor stock selling. * The fastest 30% bear market in history - just 22 days! * Will Work From Home become the new normal? * Did the stock market bottom? ...and much more! Let us know what your thoughts! Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

I made a decision. We are not going to participate in this recession. There's too much work to be done. Bank of America Merrill Lynch anticipates something like 3.5 million American jobs lost by the end of the 2nd quarter and a doubling of the unemployment rate. We have no control over that. We only have control over our response to it. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Batnick and Downtown Josh Brown discuss all of the recent market volatility from the COVID-19 situation, including some takes on stock buybacks, what 13Fs might look like, the 10 stocks that have raised their dividends for 50 years straight, the overall damage so far and why we need to be bullish on treatments, and save the enthusiasm for vaccines for a later time. We love all of our viewers and subscribers and are thinking of you as we have this discussion. Stay strong, we WILL return. Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

First up, Michael Sonnenshein, Managing Director of Grayscale Investments, stopped by The Compound to discuss bitcoin with Josh and Michael. Grayscale runs the largest bitcoin fund in the world, with nearly $3 billion in AUM. What does the future of bitcoin look like? And then on today's episode of What Are Your Thoughts, Michael Batnick and Josh Brown get into all the hottest topics in investing and finance. Josh's apology for rooting for corrections Has the market bottomed or do we need a retest of the low? Would rather know about a market bottom or a market top in advance? Josh is reading about viruses and outbreaks around the clock, what's the point? Zoom Media became a hot stock because of teleconferencing, and then traders bought the wrong ticker too - on purpose? Why do people share their transactions on Venmo? Every analyst now gets a base case, bull case and bear case - whatever happened to making a call and standing by it? The Fed dropped a surprise interest cut of 50 basis points during our show - Michael and Josh react in real time. Be sure to subscribe to our channel so you never miss an update: https://www.youtube.com/thecompoundrw... Beginning Investors, check out Liftoff: http://liftoffinvest.com Follow us on Twitter: https://twitter.com/RitholtzWealth Follow us on Facebook: https://www.facebook.com/ritholtzwealth/ Talk with us about your portfolio or financial plan here: http://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-a... Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

First up, Dan McMurtrie. He and his partners founded Tyro Partners, a New York City-based hedge fund, at a time when hedge fund closings are much more common than emerging fund launches. Dan lists some of the most important things he's figured out on his journey. He also talks about how one of the most under-appreciated sources of alpha is being nice to people. Later on we bring in Rich Greenfield, one of the most widely followed and respected analysts in the technology, media and telecom (TMT) space on Wall Street. Michael Batnick and Josh Brown got a chance to talk to him about the launch of Disney+, the rise of over-the-top streaming apps like Netflix, why Roku is such a hot stock and what we can expect for the next generation of video launches. One thing Rich is certain of is that while there may be winners among streaming services, traditional broadcast TV is sure to be the biggest loser. You can follow Dan's renowned Twitter feed / alter-ego Super Mugatu here: https://twitter.com/supermugatu Tyro Partners homepage here: https://www.tyropartners.com/ You can follow Rich Bernstein's ongoing commentary via his Twitter account: https://twitter.com/RichLightShed ...and check out his excellent blog here: https://lightshedtmt.com/ Be sure to subscribe to our channel so you never miss an update: https://www.youtube.com/thecompoundrw... Beginning Investors, check out Liftoff: http://liftoffinvest.com Follow us on Twitter: https://twitter.com/RitholtzWealth Follow us on Facebook: https://www.facebook.com/ritholtzwealth/ Talk with us about your portfolio or financial plan here: http://ritholtzwealth.com/ Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-a... Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Apple warns of Coronavirus slowdown - Financial advisors never actually retire in real life - Is February too early to be citing year-to-date performance? - Reactions to the NBA’s All Star Break - How many bagels is too many? - Josh is rooting for stocks to go flat-on-year - Cruises - what’s the deal with that? Why do people like them? Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this edition of What Are Your Thoughts, Michael Batnick and Josh Brown discuss: * YouTube revenue growth is on fire, but who gets the money? * Netflix vs Cable Subs - crossover imminent! * The short squeeze in Tesla stock is probably the largest in the history of the stock market. * The stock market is recovering from its worst week in a while * What should investors make of the Coronavirus that seems to be roiling cross-border trade with China and the rest of the world? * Amazon earnings * Michael and Josh on the Super Bowl, did the right team win? 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Batnick sits down with Data Scientist Nick Maggiulli to talk about one of the most commonly asked questions in the world of money, “When is the best time to invest?” The answer will definitely surprise you, check it out. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Barry and Michael sit down with Ben to discuss financial fraud and his new book "Don't Fall For It: A Short History of Financial Scams." Pick up a copy of Ben's book: https://www.amazon.com/Dont-Fall-Short-History-Financial/dp/1119605164 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh recently met up with Scott Redler at the New York Stock Exchange to discuss moving averages, and trading vs investing. Scott is the Chief Strategic Officer at T3 Live. Check out Scott's new book "The Ultimate Guide to Moving Averages:" https://www.t3live.com/blog/scott-redler-free-ebook/ 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this edition of What Are Your Thoughts, Michael Batnick and Josh Brown discuss: * Gold vs Bitcoin, let the trolling begin! * Google joins the Trillion Dollar Club, who's next? * Can Bill Simmons sell The Ringer podcast network for $200 million? * Actively managed US stock mutual funds had a great year in 2019, but most still couldn't catch the S&P 500. So what? * Will direct indexing disrupt the ETF business? * Warren Buffett's preferred metric to gauge how expensive the stock market is. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - Michael Batnick and I discuss the recent milestones for the Dow Jones Industrial Average and the incredibly slow grind that's gotten us here. According to the Wall Street Journal "hasn’t moved 1% or more in either direction since mid-October, its sixth-longest streak since the end of 1969 and third-longest since the end of 1995." We ran the numbers and looked at the absolute change in daily stocks prices. It turns out that on a rolling 30-day basis, stocks have almost never been this calm. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

The recent flare-up in the Middle East has investors asking questions about what might happen to their portfolios if a war breaks out. While every scenario is different and the variables change, there are some important things to understand about how wars have historically affected the Dow Jones Industrial Average. Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management. This past week, he took a look at how US stocks have acted during WWI, WWII, the Korean War, Vietnam, the Gulf War, etc. Ben shares his findings in a new article at Fortune Magazine and in this video with Josh Brown. Read Ben's full article here: https://fortune.com/2020/01/03/iran-us-conflict-stock-market-oil-prices/ 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On a new edition of What Are Your Thoughts, Josh Brown and Michael Batnick discuss the hottest topics in finance and investing:  * Is there any such thing as the optimal time to rebalance your portfolio?  * Is Instagram ad targeting weirding you out or doing you a favor? * Vanguard started the year off slashing commissions on options trades and mutual funds. * The median IPO has underperformed the stock market by 20 percentage points this decade! * Josh says 'Uncut Gems' starring Adam Sandler is actually a personal finance movie. * What was the biggest surprise of 2019?  * Bill Ackman delivered a 58% comeback performance in 2019, how'd he do it?  Let us know what your thoughts are on these topics, we love your feedback and comments! Happy New Year!  1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Derek Thompson stops by The Compound to discuss how and why things go viral with Barry and Michael. Derek is a staff writer at The Atlantic and author of “Hit Makers.” 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Barry Ritholtz sits down with author and former WSJ journalist, Jonathan Clements to discuss how money is similar to health, smart ways to spend it, and how our thoughts about money change over the course of a lifetime. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Downtown Josh Brown and Michael Batnick go head-to-head for a brand new What Are Your Thoughts! In the final episode of 2019, Josh and Michael cover: * It was almost impossible to lose money this year * Does the success of DoubleLine over the last decade prove that building an active management company is still possible? * The five best performing stocks in the S&P 500 this year were AMD, Lam Research, KLA-Tencor, Chipotle and....Target? * Why does Michael get bullied online more than Josh? * 2020 analyst forecasts * Josh's anti-coffee rant was trash * Apple is the most emblematic stock of 2019 Let us know your thoughts on these topics! We love to hear from you. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nick Maggiulli is the data scientist at Ritholtz Wealth Management and author of the Of Dollars and Data blog. He tells Michael Batnick about a simple trick he uses to avoid feeling guilty while spending money. Michael talks about how he funds his Liftoff account at the same time as he makes a large purchase. You can have a Liftoff account too, follow the link below - there's no minimum to get started! http://liftoffinvest.com Read "How to Spend Money" by Nick here: https://ofdollarsanddata.com/how-to-spend-money/ 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nina O'Neal stops by The Compound to discuss the work-life balancing act of a financial advisor. Nina is a Partner and Investment Advisor at Archer Investment Management in Raleigh, NC. Follow Nina and the Female Advisor Network on Twitter: https://twitter.com/noneal510 https://twitter.com/female_advisors Read Nina's blog: https://www.ninaoneal.com/ 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this edition of What Are Your Thoughts, Michael Batnick and Josh Brown of Ritholtz Wealth Management discuss: -1,000 zombie ETFs have been put of their misery this year -How many minutes early for a meeting is too early? -Would you invest directly into a college student's future success? -Stocks are up over 20% this year, what's the simple reason? -The 60/40 delivered its best annual performance since 1998 -Private equity firms have three quarters of a trillion in cash to deploy 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Check out our video channel, "The Compound," over on YouTube: https://www.youtube.com/thecompoundrwm Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

The incredibly bright and insightful Morgan Housel of the Collaborative Fund drops by the Compound to discuss some of the biggest mistakes and misconceptions that plague investors year after year - and what can be done about them. Morgan talks with Michael Batnick and Barry Ritholtz about: * how there is no such thing as an optimized portfolio * why recent trends are more instructive about the near term future, but long term trends are the ally of most investors * the fact that investing is one of the only endeavors in which the application of more effort doesn't equate to better results * the hindsight bias that all of us fall victim to * the reality behind some of the most famous investor track records * the inconsistency you are required to put up with in the pursuit of long term outperformance 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Check out our video channel, "The Compound," over on YouTube: https://www.youtube.com/thecompoundrwm Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ted Seides stopped by the Compound to talk with Michael Batnick about the struggles the hedge fund industry has faced over the last decade, and what might happen to stem the tide. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Check out our channel "The Compound" over on YouTube: https://www.youtube.com/thecompoundrwm Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Charles Schwab is merging with one of its largest competitors, TD Ameritrade in a $26 billion all-stock deal that should close in the second half of 2020. Michael Batnick and Downtown Josh Brown of Ritholtz Wealth Management discuss what this will mean for the thousands of financial advisors who use one or both of these custodian brokers for their clients' assets.  1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Check out our channel "The Compound" over on YouTube: https://www.youtube.com/thecompoundrwm Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

John Roque joins Barry Ritholtz at The Compound to explain why technical trading signals stopped working and how he has adapted his trading style to the new landscape. Follow John Roque on Twitter: https://twitter.com/WolfeDailyHowl 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ben Hunt joins Michael Batnick and Downtown Josh Brown at The Compound to explain what he's so angry about - he sees wealth inequality as being driven by hijacked narratives about capitalism, stock buybacks, central banks and the managerial overclass orchestrating it all. Follow Ben on Twitter: https://twitter.com/EpsilonTheory Stay up to date on Ben's thoughts: https://www.epsilontheory.com 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ed Yardeni, of Yardeni Research, joins Michael Batnick and Barry Ritholtz at The Compound to explain why we're looking at the wrong data all wrong, what the real data is, and what it means for the current narrative surrounding share buybacks. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the latest edition of What Are Your Thoughts - Michael Batnick and Downtown Josh Brown break down the biggest topics of the moment. On this episode:  * JP Morgan calls out permabears. * Should investors be concerned about the national debt? * Does Google want to be a bank? * Selling performance vs selling opinions. * Stock-based compensation. * Opinion vs price. * Disney +, first impressions. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - I really enjoyed talking with former JPMorgan strategist and the founder of Fundstrat Research about how he uses the evidence to understand what's happening in the markets.  Tom cites four indicators he uses to explain current trends and think about where markets and the economy might be headed. Among them, credit spreads, demographics and volatility.  Tom also talks about his bullish stance and why he isn't terribly worried about the yield curve inversion we saw this summer.  You can learn more about Tom's work at the site:  https://fsinsight.com/ Follow Tom Lee on Twitter here: https://twitter.com/fundstrat 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - we had Greg Zuckerman of the Wall Street Journal up at the Compound to talk about his new book, The Man Who Solved the Market - the first ever deep dive into Jim Simons and his legendary firm Renaissance Technology. Renaissance has pulled over $100 billion in trading profits out of the markets since its founding decades ago, in a highly secretive approach that combines mathematical equations with cutting edge technology.  Zuckerman conducted over 400 interviews with current and former employees of the firm and even spent a few days with Simons himself - despite the fact that he didn't want this story told or the book written.  You can get The Man Who Solved the Market here:  https://amzn.to/2WM6BAY 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 came into October this year up double digits. It has done so on 42 occasions since 1926. That’s almost 50% of the time.  Of those 42 times, in 35 cases the market went up through the end of the year. That’s an 85% success rate, about as one-sided as market statistics can get.  On only 7 occasions did it fall in the fourth quarter.  BUT.... The 3 worst Q4 losses ever all occurred with the market up double digits - these worst Q4 drops ever were 1929, 1987 and last year -28%, -23% and -14% So most of the time when stocks are already up they continue to go up. but sometimes they also get crushed. The average gain is 4.5% (even including the losses). this is also the 24th time the S&P has been up 20% or more through 3 quarters of the year. We talked with famed Wall Street strategist Tony Dwyer about the tendency for markets that have a good three quarters to finish strong, and why this year looks like it should fall in line with the historical data.  1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the latest edition of What Are Your Thoughts - Michael Batnick and Downtown Josh Brown break down the biggest topics of the moment. On this episode:  * Private markets used to be thought of as "the smart money" while public markets were for retail shleps - but this time around, it's the public investors who are calling bullsh*t on the VCs, private equity firms and insiders.  * It's not just value investing that's out of favor - value commentary from the likes of Howard Marks seems to be on the wane as well.  * Is the breakout for international stocks finally going to happen?  * The big brokers' announcements about commission-free trading seems to left out the mutual fund wrapper in the cold. Is this just another nail in the coffin?  * Has inflation finally bottomed? A big anecdotal sign has come our way... 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dave Nadig, managing director of ETF.com, stops by The Compound to discuss how fee-free trading is changing the investment landscape with Ritholtz Wealth Management Chairman and CIO, Barry Ritholtz. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to the latest edition of What Are Your Thoughts - Michael Batnick and Downtown Josh Brown break down the biggest topics of the moment. On this episode: * Get your story straight - are there too many IPOs coming out this year or not enough? 2019 is on pace to see the most capital raised by initial public offerings in a year since 2000, and possibly even break the record. The number of companies coming public is on pace to match or exceed prior records as well. So this is....good news? * Twitter's new app update has a "trailer" feature, previewing the next people who are about to show up on your timeline. Was this a solution in search of a problem? Does anyone actually need this? * The bond market has delivered big gains for investors this year. One year ago, the CEO of JPMorgan was concerned that 10-year treasury yields could soar to 5%. Today they're half that level and have gone in the exact opposite direction. And now he's talking about preparing the bank for zero percent interest rates. If Jamie Dimon doesn't know where yields are headed, why would any investor or financial advisor think their forecast would be better? * There are four NFL teams with 0-4 records, the Bengals, Redskins, Dolphins and Jets. Season over? Any point to keep watching? * Josh has a mea culpa. Amazon Prime does have some shows worth watching. In particular, 'The Boys' was a great first season. Michael recommends 'Catastrophe' next. Let us know below what else Josh should be watching on there. * So it looks as though we're getting another rate cut this month. Does this qualify as a "rate cut cycle"? Will a rate cut even help at this point? Are insurance cuts worth doing with unemployment at all time lows and the stock market at all time highs? * What is to become of your local sporting goods store? Will any survive besides Dick's? 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Campbell Harvey is a Professor at Duke University and a partner as Research Affiliates. He sat down with Michael Batnick and Josh Brown of Ritholtz Wealth Management to discuss the meaning of the inverted yield curve indicator, which he discovered in 1986 while working on a dissertation. Campbell cites the fact that 7 out of the last 7 recessions had been presaged by a yield curve inversion - which is what happens when it longer term bond yields fall below shorter term bond yields in the Treasury market. He believes that this phenomenon occurs when the market participants begin to grow more pessimistic about the economic outlook. The behavior of executives, lenders, borrowers and investors can change enough during these times to actually become a self-fulfilling prophecy - producing a negative feedback loop that drives a weakening economy into a full-blown recession. Recessions are a normal part of the business cycle, although they can be painful to live and invest through. They can also vary greatly be degree. Campbell fields questions from Michael and Josh about all of the ways in which this time might be different. He acknowledges that it is always possible that the yield curve indicator might stop working as a recession signal, but he believes that because it hasn't yet, this might be a good time for people and corporations to rethink the risks they're taking. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - Charles Schwab announced that starting October 7th all commissions on stocks, ETFs and options would go down to zero. The march toward commission-free trading has been happening in slow motion for decades, ever since the 1970's. My take on it is this - it's terrific news for investors, as it lowers the cost of being an investor and gaining access to markets. But is it a "game changer"? I don't think so. It's also important to note the link between market valuations and the ease of access. On a secular basis, US stocks have been valued higher as the average fund fee, commission fee and other costs have fallen. Trading volumes have soared and more participants than ever are using the public markets to build wealth. This is not a coincidence. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Patrick Keane, CEO of The Action Network, joins Josh Brown and Michael Batnick at The Compound to discuss the future of sports betting and how it compares to trading. Patrick believes that prop betting will explode in popularity as sports venues warm to the additional revenue it can bring. He sees app-based betting coming to a state near you and many stock market traders becoming attracted to sports bets as the terminology becomes more widely understood. 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/     #Stocks #StockMarket #MakeMoney #Wealth #HowToInvest #Investing #Money #Trading #RetirementInvesting #FinancialAdvice #InvestmentAdvisor #FinancialAdvice #PersonalFinance #betting morning #trading #gambling #fantasysports Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

House Majority Leader Nancy Pelosi announced the beginning of formal impeachment proceedings of President Trump. As investors, it's important to remember that we don't have a lot of history to go by in terms of what impeachment might mean for the stock market and the economy. But there are some important takeaways from past impeachments of Richard Nixon and Bill Clinton. Crossing Wall Street's Eddy Elfenbein stopped by to talk about what the impeachment announcement actually means for investors in stocks and bonds. Eddy is a market historian, prolific blogger and an equity fund manager based in Washington, D.C.. You can check out his site here: http://www.crossingwallstreet.com/ And follow him on Twitter, where he is both hilarious and insightful on a daily basis: https://twitter.com/EddyElfenbein 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/     #Stocks #StockMarket #MakeMoney #Wealth #HowToInvest #Investing #Money #Trading #RetirementInvesting #FinancialAdvice #InvestmentAdvisor #FinancialAdvice #PersonalFinance Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh Brown and Nick Maggiulli, of Ritholtz Wealth Management, discuss data on investing a lump sum vs dollar-cost averaging, and the results might surprise you. Read Nick's post for the data and charts: https://ofdollarsanddata.com/the-cost-of-waiting/ 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/   #Stocks #StockMarket #MakeMoney #Wealth #HowToInvest #Investing #Money #Trading #RetirementInvesting #FinancialAdvice #InvestmentAdvisor #FinancialAdvice #PersonalFinance Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

On a new edition of What Are Your Thoughts?, Michael Batnick and Josh Brown discuss: * The Repo Rate mini-panic * Are we ready for the Daniel Jones Era? * Does it really take $350,000 a year to live in cities? * Standup comics up in arms over political correctness and "cancel culture" * People got excited about value stocks recently. Again. * More terrible sports takes from Josh * Do you need a car to live in New York City? and lots more. As always, we love your feedback, so let us know What Are Your Thoughts on these topics! Be sure to subscribe to our YoiuTube channel for the video version: https://www.youtube.com/thecompoundrw... 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/   #Stocks #StockMarket #MakeMoney #Wealth #HowToInvest #Investing #Money #Trading #RetirementInvesting #FinancialAdvice #InvestmentAdvisor #FinancialAdvice #PersonalFinance Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Josh here - it was my honor and pleasure to interview Joe Duran, founder of United Capital, on stage earlier this week at the inaugural Wealth/Stack Conference in Scottsdale, Arizona. Joe made headlines earlier this year when he sold the firm to Goldman Sachs - a deal that was the largest Goldman has done in 20 years. Joe and I spoke about the need to advise clients on different aspects of their lives, beyond just what's happening in their portfolios. We also talked about what motivated him to make a deal and what types of capabilities he'll have now as a part of one of the largest financial services giants in the world. Joe also relayed plenty of advice for young advisors who are just beginning their careers , and what he would love to go back and tell his younger self about having patience. Joe arrived in America with just $200 in his pocket from Zimbabwe, earned an MBA and then sold two companies to Fortune 500 acquirers. His story is hugely inspirational, you can read more about him here: https://www.unitedcp.com/meet-joe-duran/joe-s-story 1-click play or subscribe on your favorite podcast app   Subscribe to the mini podcast on iTunes or Spotify    Enable our Alexa skill here - "Alexa, play the Compound show!"   Talk to us about your portfolio or financial plan here:  http://ritholtzwealth.com/   Obviously nothing on this channel should be considered as personalized financial advice just for you or a solicitation to buy or sell any securities. Please see this 3,000 word terms & conditions disclaimer: https://thereformedbroker.com/terms-and-conditions/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices