In 2016 I wrote a piece called Has There Every Been a Better Time to Be a Homebuyer?
Here were some of my reasons:

It&#8217;s easier than ever to shop for homes online
Houses are now bigger, better and nicer
Mortgage rates at generationally low levels
People were still scarred from the housing crisis making it a good time to buy

I can&#8217;t pat myself on the back too much for this call since it had more to do with th...

Has There Ever Been a Worse Time to Be a Homebuyer?

I wrote the following last week:
If you’re invested in cryptocurrencies, you should expect to see 20% losses in a matter of minutes or 50% losses in a matter of days.
Well we didn&#8217;t have to wait long for this. There was carnage in the crypto markets today:

At one point this morning bitcoin was more than 50% off its highs from just a few short weeks ago. Ethereum was more than 50% off its highs from just a few sh...

Crash Rules Everything Around Me

Today&#8217;s Animal Spirits is presented by Acre Trader:

To learn more about investing in Farmland be sure to check out our show this Friday with Acre Trader CEO Carter Malloy.
We discuss:

A bad month for bitcoin
Elon&#8217;s control over the crypto markets
Should Tesla shareholders be worried?
Why we always attach narratives any time an asset falls in price
Inflation vs. the stock market
Why this is the weirdest econo...

Animal Spirits: A Shortage of Everything

Kevin Roose at the New York Times wrote a profile this past weekend on a Dogecoin millionaire who refuses to sell the joke cryptocurrency:
Mr. Contessoto, 33, who works at a Los Angeles hip-hop media company, is no ordinary buy-and-hold investor. He is among the many thrill-seeking amateurs who have leapt headfirst into the markets in recent months, using stock-trading apps like Robinhood to chase outsize gains on risky, ...

What Advice Would You Offer Newly Minted Dogecoin Millionaires?

A podcast listener asks:
My wife and I are 27, and we have accumulated about $300,000 in savings combined via passive investing over the last couple of years. What is your opinion on liquidating all of our assets and buying a home with cash? We live in New York, but are looking to leave the state due to how expensive and fast-paced it is. Some areas we have looked at have houses in the price range we can afford. Do you th...

The Pros &amp; Cons of Liquidating Your Portfolio To Buy a House With Cash

When school and work shutdowns first began last spring it was impossible to avoid making predictions about how life would change during the pandemic.
It&#8217;s hard to believe we&#8217;re now at the juncture where we can start looking forward to post-pandemic life.
I still have many unanswered questions about what happens next:
1. Are summer vacations changed forever? On the Airbnb earnings call this week, CEO Brian Ches...

12 of My Biggest Post-Pandemic Questions

I distinctly remember listening to the Joe Rogan podcast with infectious disease expert Michael Osterholm 2-3 days before the Covid shutdowns began in mid-March 2020. It scared the ever-living crap out of me.
Osterholm predicted we could see 400-500k people die in the United States from this disease in the coming months if we didn&#8217;t get the virus under control. I had no idea what the world would look like under that...

Life is Too Short to Save Everything

Today&#8217;s Talk Your Book is presented by Titan:

Michael and I spoke with Titan&#8217;s Clay Gardner about growth stocks and what&#8217;s going on in the markets.
We discuss:

The pros and cons of the retail trading boom
How to educate young people about investing
Traditional finance vs. DeFi
Adding an allocation of crypto to your portfolio
The rule of 40 for growth stocks
Quantitative vs. qualitative research for gro...

Talk Your Book: Growth at a Reasonable Price

In 1939, Albert Einstein wrote a letter to Franklin D. Roosevelt warning him the Nazis could be developing atomic weapons. Einstein urged the president to begin work on our own nuclear weapons.
Six short years later the Manhattan Project made these weapons a reality, first with a successful test in New Mexico in the summer of 1945. A month later two atomic bombs were dropped on Japan, accelerating the end of the second wo...

The Future of Bear Markets &amp; Recessions

This week’s Animal Spirits with Michael &amp; Ben is supported by YCharts:

Mention Animal Spirits and receive 20% off your subscription price when you initially sign up for the service. If you’re looking for a new job at a fast-growing investment research firm, YCharts is hiring.
We discuss:

What happened with last week&#8217;s jobs report?
Why are companies having such a hard time finding workers?
How expensive...