Gold's 1987 Moment (EP. 450)
Animal Spirits Podcast
S&P Profit Margins and AI Spending
They debate why corporate margins keep rising despite huge AI capex and what could eventually slow margins.
On episode 450 of Animal Spirits, Michael Batnick and Ben Carlson discuss the never-ending news cycle, the gold/silver crash, how the Internet changed markets forever, the commodities supercycle, emerging markets are on fire, the new Fed chair, the chart of the century, crypto feels dead again, the government doesn't want to build more homes for young people, DoorDash discourse and more.
This episode is sponsored by Nuveen and ClearBridge Investments.
- Invest like the future is watching. Visit https://www.nuveen.com/future to learn more.
- International and emerging market stocks outperformed the U.S. in 2025. At ClearBridge, we believe this momentum can continue. Find out more at https://www.clearbridge.com/
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Find complete show notes on our blogs:
Ben Carlson’s A Wealth of Common Sense
Michael Batnick’s The Irrelevant Investor
Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation.
Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.
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