.bh__table, .bh__table_header, .bh__table_cell { border: 1px solid #dddddd; }
.bh__table_cell { padding: 5px; background-color: #dddddd; }
.bh__table_cell p { color: #222222; font-family: ‘Helvetica’,Arial,sans-serif !important; overflow-wrap: break-word; }
.bh__table_header { padding: 5px; background-color:#dddddd; }
.bh__table_header p { color: #222222; font-family:’Trebuchet MS’,’Lucida Grande’,Tahoma,sans-serif !important; overflow-wrap: break-word; }

Build Your RIA Your Way with Betterment Advisor Solutions

Betterment Advisor Solutions is the all-in-one custodial platform purpose-built for independent RIAs. Get the technology and support to serve more clients, more efficiently, across investing, retirement, and cash.

Learn More

This episode is sponsored by YCharts and Vanguard.

Learn more about Vanguard's strategies at: https://vgi.vg/3GbOsYM

See here for YCharts 2025 Halftime Report

On today’s show, we discuss:

Microsoft and Meta's earnings are making every part of the AI supply chain surge
Are Futures the New Options? This Stock Stands to Gain.
In This Frothy Market, It's Boom Times for Brokers Like Robinhood
The Job Market Is Strong, Inflation Is Too Fast, and the Government Is Bananas
American Consumers Are Getting Thrifty Again
Thanks for Your $1 Billion Job Offer, Mark Zuckerberg. I'm Gonna Pass.
JPMorganChase and Coinbase Launch Strategic Partnership to Make Buying Crypto Easier than Ever
The Condo Market Is Floundering: Four Charts That Explain the Downturn
Millennials Are Richer Now. So Why Can't They Stop Worrying?
The One Thing Everyone Gets Wrong About the 4% Rule | Ben with Benefits
Goodbye Gentle Parenting, Hello 'F–Around and Find Out'

Animal Spirits:

Animal Spirits Podcast

Investing Podcast · Updated Weekly · Animal Spirits is a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, listening to and watching. Look for new episodes eve…

podcasts.apple.com/us/podcast/animal-spirits-podcast/id1310192007

Tweets:

Private research & development spending has been declining for four out of the last five quarters. Not great.

— RenMac: Renaissance Macro Research (@RenMacLLC)
12:38 PM • Jul 30, 2025

Biggest $SPY volume day since April’s Tariff Tantrum, $86b is good size freak out, double any other ETF or stock = people tweaking portfolios. Market felt due. Bad timing tho on a Fri, traders’ stress prob build over wknd. On flip tho, long term who cares? VOO & Chill in effect.

— Eric Balchunas (@EricBalchunas)
8:21 PM • Aug 1, 2025

Robinhood generated $265 million in Options Revenue this quarter.

That’s a quarterly record for the online brokerage platform.

$HOOD

— Fiscal.ai (formerly FinChat) (@fiscal_ai)
8:55 PM • Jul 30, 2025

Two dif YieldMax ETFs in the Top 10 in 1D flows, never saw that before. Indie issuer on fire, +$12.5b in YTD flows (they only had like 4b aum to start yr) with 48 of their 50 ETFs taking in cash. This is all organic too. A bit surprised but then again ppl freakin love income.

— Eric Balchunas (@EricBalchunas)
12:30 PM • Jul 31, 2025

Per the Financial Times chart below, US wage growth for the lowest-paid has now slumped below that for the highest-paid, widening the considerable inequalities in total pay and wealth.
#economy#inequality#wages@FT

— Mohamed A. El-Erian (@elerianm)
10:05 PM • Aug 3, 2025

Redfin: U.S. housing market now 508,715 more home sellers than homebuyers

That’s the most home sellers have outmatched homebuyers in over a decade, according to Redfin

— Lance Lambert (@NewsLambert)
4:08 AM • Aug 4, 2025

Me: sign up to buy 3000 $FIG shares on IPO
@RobinhoodApp: Here’s 1.

Pretty ridiculous

— Wiz (@nadavwiz)
2:18 PM • Jul 31, 2025

As predicted, FUBAR has been canceled after two seasons.

Why did it get canceled? Viewership fell 76% from seasons 1 to 2.

(more analysis: bit.ly/4lsX8Zr)

— What's on Netflix (@whatonnetflix)
4:27 PM • Aug 2, 2025