So Bearish It's Bullish (EP.409)

60 snips

Apr 23, 2025

The hosts humorously compare today's market fluctuations to those of 1929 and 1932. They discuss the impact of tariffs on small businesses and navigate the challenges of the falling dollar. Retail behavior shows resilience as younger generations continue to buy the dip. Insights on Bitcoin reveal it is decoupling from traditional trends. The light-hearted exchange also touches on the unpredictable nature of the economy, all while weaving in personal anecdotes that add a relatable touch to the market's complexities.

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INSIGHT

Market Reacts Fast to Slowdown

Market quickly prices in negative news, e.g., Delta's stock halved due to slowing airline travel.
Rapid market reactions indicate economy slowdown risks are being digested.

INSIGHT

Gold and Bitcoin Outperform Stocks

Despite market declines, gold and Bitcoin have surged over 40% and 36% in a year.
Overall market drawdowns remain mild compared to historical bear markets.

INSIGHT

Retail Buying vs Institutional Selling

Retail investors are increasingly buying dips while institutions are selling.
This dynamic highlights differing risk appetites amidst market volatility.

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On episode 409 of Animal Spirits, Michael Batnick and Ben Carlson discuss: some 1929 and 1932 comparisons, the impact of tariffs on small businesses, supply chain problems are coming, putting the dollar's move into perspective, jumping into a recession, why a recession might feel worse than it actually is, the correction is still relatively mild, retail keeps buying the dip, Bitcoin is decoupling, $145,000 mud rooms and much more!

This episode is sponsored by YCharts. Grab a copy of their new deck: https://go.ycharts.com

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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