April 12, 2021

Who Owns Stocks in the United States?

Here’s some good news: The amount of wealth held by the bottom 50% of households is now at an all-time high. This number is up ninefold since bottoming out in 2011 following the devastation caused by the Great Financial Crisis. Bloomberg’s Justin Fox says there are three main drivers of this increase: So that’s three drivers: (1) recovery from the housing bust, (2) late-cycle wage gains that probably got a ...

What Happens After the Stock Market is Up Big?

It seems like there is always a good reason to worry about the stock market. When stocks are falling it feels like they can always fall further. And when stocks rise it feels like the peak is always right around the corner. But what about when stocks rise by A LOT? That’s the situation we’re looking at right now with a massive rise from the bottom last March. In a recent piece at Fortune I looked at the histor...

Getting your money back from NBA TopShot with me and Jason Concepcion

new ALL CAPS NBA •THE TRUTH HAS SET HIM FREE•POKU—GOTTA ASK EM ALL •@ReformedBroker ON TOPSHOT AND MORE FULL EPISODE: https://t.co/fkmmUzcXjV pic.twitter.com/X0h7e4klBc — jason c. (@netw3rk) April 9, 2021 This was a fun one – Jason Concepcion is hilarious and covers all things NBA like no one else. If you haven’t seen his show yet, there’s a clip of he and I above and you can hit this yo...

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This Week on TRB

One of my favorite rappers of all time passed this week. I got to see him live on January 30th at the Loud Records 25th Anniversary show at Radio City with some good friends. It was the last show I would go to before the pandemic began. Everyone was there. Hundreds of the best MCs and DJs ever all on stage together. Mobb Deep came out, Fat Joe, the entire Wu-Tang Clan, Busta, the list goes on and on. DMX unexpectedly pop...

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Why Direct Indexing is the New Killer App for Advisors

Michael Batnick says he knew from the start that direct indexing was going to transform his firm, New York City-based Ritholtz Wealth Management, where he is director of research. When CEO Josh Brown “and I saw this, I said to him, ‘The next billion dollars that we raise is going to be in this thing.’ ” Ritholtz rolled out direct indexing in late 2019, and now has 15% of its nearly $2 billion of client assets in d...

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Winnie the Pooh Translates Financial Jargon

They say a meme is worth a thousand words. Okay, not really but close enough. The ability to explain complex topics or current events is one of the reasons these things go viral and each week it seems we have a new meme format to work with. Then there are the classics. The guy with the girlfriend looking over his shoulder at another woman. The ‘this is fine’ dog. Ben Affleck doing pretty much anything. The Dra...

Animal Spirits: Listener Mailbag

Today’s listener mailbag is presented by Naviplan by Advicent: Go to www.advicent.com/animalspirits to learn more about how their financial planning software. And check out The Planning Desk Podcast with Tony Stich who helped us answer some questions today. We discuss: At what point do you need to rebalance your portfolio? How to plan ahead financially for kids How do you get currency diversification? Will rebalanci...

Costs

Peter Boockvar on commodity prices… Here’s an update on commodity prices. The CRB raw industrials index closed yesterday at just under a 10 year high. The CRB food index closed at an 8 year high. CRB Raw Industrials Index CRB Food Price Index Josh here – Inflation protection is on everyone’s minds right now. It’s the subject we’re getting the most questions on internally and it s...

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