The Irrelevant Investor

The Compound and Friends: The Man Who Called the Roaring 2020s

Michael Batnick — Fri, 07 Aug 2026 11:00:00 +0000

Today's Compound and Friends is brought to you by nuveen:

This episode is sponsored by Nuveen. To learn more, visit https://www.nuveen.com/alternatives

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

On today’s show, we discuss:

Dr. Ed's Market Calls

Charts:

Tweets/Bluesky:

Dr. Ed Yardeni:

LinkedIn: https://www.linkedin.com/in/edward-yardeni/
Yardeni Research: https://www.yardeni.com/

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Animal Spirits: When Genius Failed, Again

Michael Batnick — Wed, 05 Aug 2026 11:00:00 +0000

Today's Animal Spirits is sponsored by YCharts:

This episode is sponsored by YCharts. To get your copy of Top 10 Visuals, and receive 20% off your first YCharts Professional subscription through Animal Spirits. Visit https://go.ycharts.com/animal-spirits (Offer valid for new customers only.)

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Tweets/Bluesky:

Recommendations:

Obsession
House of the Dragon
Masters of the Universe
The Odyssey
Shrinking
The Men Who Would be King by Nicole Laporte

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The Compound and Friends: Why Demand for Compute Is About to Explode

Michael Batnick — Fri, 31 Jul 2026 11:00:00 +0000

Today's Compound and Friends is brought to you by

This episode is sponsored by ProShares. Learn more at proshares.com

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

On today’s show, we discuss:

Big Tech Debt Flood Is Taking Over Risk In Market: Credit Weekly

Charts:

Tweets/Bluesky:

Alex Kantrowitz:

LinkedIn: https://www.linkedin.com/in/alexkantrowitz/
Twitter: https://x.com/Kantrowitz
YouTube: https://www.youtube.com/@Alex.kantrowitz

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Animal Spirits: 45 Million Rich Households

Michael Batnick — Wed, 29 Jul 2026 11:00:00 +0000

Sponsored

The case for private markets — simplified

As inflation and rate volatility test traditional 60/40 portfolios, private real estate, credit and natural capital may offer diversification that public markets can't replicate. Use Nuveen's free checklist to start the conversation with clients.

Get the free checklist →

Today's Animal Spirits is sponsored by YCharts and Calamos:

This episode is sponsored by YCharts. To learn more and get 20% off your initial YCharts Professional subscription to take Y for a spin (new customers only), visit https://go.ycharts.com/animal-spirits

This episode is sponsored by Calamos. To learn more about CAIE, visit https://www.calamos.com/funds/etf/calamos-autocallable-income-caie

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Recommendations:

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Talk Your Book: Is Crypto Dead?

Michael Batnick — Mon, 27 Jul 2026 11:00:00 +0000

Sponsored

The case for private markets — simplified

Get the free checklist →

Today's Talk Your Book is sponsored by Grayscale:

To learn more about Grayscale click here: https://www.grayscale.com/the-stack

On today’s show, we discuss:

Why crypto's down cycle feels different from past drawdowns
Using perpetual futures on Hyperliquid to trade traditional underlying assets
The infrastructure build out taking place in crypto
How value accrues to token holders based on technology adoption
The roadmap for tokenized equities and real world assets

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

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The Compound and Friends: Secrets From the Greatest Fund Manager of All Time

Michael Batnick — Fri, 24 Jul 2026 11:00:00 +0000

Sponsored

The case for private markets — simplified

Get the free checklist →

Today's Compound and Friends is brought to you by Nuveen:

This episode is sponsored by Nuveen. Start your alternative investments journey with Nuveen by visiting http://nuveen.com/alternatives

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

On today’s show, we discuss:

List of Ron Baron Investment Conference Entertainment

Charts:

Tweets/Bluesky:

Ron Baron:

Twitter: https://x.com/RonBaronAnalyst?lang=en

Michael Baron:

LinkedIn: https://www.linkedin.com/in/michael-richard-baron/

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Animal Spirits: Say Bubble One More Time. I Dare You!

Michael Batnick — Wed, 22 Jul 2026 11:00:00 +0000

Sponsored

The case for private markets — simplified

Get the free checklist →

Today's is sponsored by YCharts and Vanguard:

This episode is sponsored by Vanguard. To learn more about Vanguard bonds, visit https://vanguard.com/audio

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Tweets/Bluesky:

Recommendations:

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Talk Your Book: Private Credit's Next Act

Michael Batnick — Mon, 20 Jul 2026 20:30:00 +0000

Sponsored

China Is Building Its Own Semiconductor Empire

China’s semiconductor industry has become one of the fastest-growing segments globally. VanEck China Semiconductor ETF (SMHC) is designed to provide targeted exposure to 25 of the largest and most liquid Chinese semiconductor companies.

Explore SMHC

Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus , which contains this and other information, call 800.826.2333 or visit vaneck.com/etfs. Please read the prospectus and summary prospectus carefully before investing. © Van Eck Securities Corporation, Distributor

Today's Talk Your Book is sponsored by Nuveen:

To learn more about Nuveen click here: http://nuveen.com/alternatives

On today’s show, we discuss:

What the post-GFC distressed era taught us about today's market
Why abundant private capital has helped businesses stave off distress
Why recent redemptions reflect a flows event, not a credit event
How to properly educate investors on private credit's illiquidity tradeoff
What the middle market is and how size drives financing characteristics

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

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The Compound and Friends: You’re About to See the Real AI Winners Stand Up

Michael Batnick — Fri, 17 Jul 2026 11:00:00 +0000

Sponsored

China Is Building Its Own Semiconductor Empire

Explore SMHC

Today's Compound and Friends is brought to you by Public and Vanguard:

This episode is sponsored by Public. To learn more, visit https://public.com/compound.

This episode is sponsored by Vanguard. To learn more about Vanguard bonds, visit https://vanguard.com/audio

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

Charts:

Jonathan Thomas:

LinkedIn: linkedin.com/in/jonathan-s-thomas

Sean Russo:

LinkedIn: https://www.linkedin.com/in/seanrusso1/

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Animal Spirits: Will the Fed Buy Stocks?

Michael Batnick — Wed, 15 Jul 2026 11:00:00 +0000

Sponsored

China Is Building Its Own Semiconductor Empire

Explore SMHC

Today's Animal Spirits is sponsored by Nuveen:

This episode is sponsored by Nuveen. Start your alternative investments journey with Nuveen by visiting http://nuveen.com/alternatives

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Tweets/Bluesky:

Recommendations:

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Talk Your Book: Do We Need the Federal Reserve?

Michael Batnick — Mon, 13 Jul 2026 11:00:00 +0000

Sponsored

AGIX Adds Polymarket & Photonics Hardware Company Ayar Labs

Public-Private ETF AGIX provides exposure to multiple emerging layers of the AI ecosystem, including Space & Connectivity, Large Language Models, Self-Driving Technology, Prediction Markets, and Photonics.

Learn More

Today's Talk Your Book is sponsored by F/m Investments:

To learn more about F/m Investments and our ETFs visit: www.fminvest.com/etfs

On today’s show, we discuss:

F/m Labs
Interactive Yield Chart
Interest Rate Scenario Analysis
The case for TIPS over nominal treasuries in today's environment
Why ZTOP only buys the largest, most liquid high yield issuers
Why bond investors are warier of hyperscaler debt than equity investors are
Building an AI model trained on Fed governor Kevin Warsh's own words

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

Check out our t-shirts, coffee mugs, and other swag here.

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Disclosures from F/m Investments:

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For the most recent month-end performance, please call 1-800-617-0004 or visit our website at www.fminvest.com for more information, standardized fund performance and holdings.

The Compound and Friends: The Real Ticking Time Bomb with Michael Cembalest

Michael Batnick — Fri, 10 Jul 2026 11:00:00 +0000

Sponsored

AGIX Adds Polymarket & Photonics Hardware Company Ayar Labs

Learn More

Today's Compound and Friends is brought to you by Federated Hermes:

This episode is sponsored by Federated Hermes. Explore their full ETF lineup at ⁠https://federatedhermes.com/us

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

On today’s show, we discuss:

Semiquincententacles

Charts:

Michael Cembalest:

LinkedIn: https://www.linkedin.com/in/michael-cembalest-02b926125

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Animal Spirits: 10 Reasons to be Bullish

Michael Batnick — Wed, 08 Jul 2026 11:00:00 +0000

Sponsored

AGIX Adds Polymarket & Photonics Hardware Company Ayar Labs

Learn More

Today's Animal Spirits is sponsored by Pacer ETFs:

This episode is sponsored by Pacer ETFs. Learn more at https://www.paceretfs.com/

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

exhibitaforadvice.com

Tweets/Bluesky:

Recommendations:

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Talk Your Book: How SpaceX Got Into the Nasdaq 100

Michael Batnick — Mon, 06 Jul 2026 11:00:00 +0000

Today's Talk Your Book is sponsored by Invesco:

To learn more about Invesco click here: https://www.invesco.com/us/en/solutions/innovation-suite.html

On today’s show, we discuss:

How NASDAQ 100 inclusion rules balance market cap with free float adjustments
What SpaceX's fast entry into the NASDAQ 100 means for weighting and index methodology
Micron's rapid rise from outside the top 10 to the third-largest QQQ holdings
Why QQQ has outperformed the broader tech sector with less concentrated exposure
How the AI trade is broadening out beyond GPUs into memory and storage names

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

Check out our t-shirts, coffee mugs, and other swag here.

Subscribe here:

Disclosures from Invesco:

Not a Deposit | Not FDIC Insured | Not Guaranteed by the Bank | May Lose Value | Not Insured by any
Federal Government Agency

This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions. The opinions expressed are those of the speakers, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals.

There are risks involved with investing in ETFs, including possible loss of money. Index-based ETFs are not actively managed. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Both index-based and actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Funds are subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Funds.

ETF Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares

The Compound and Friends: Brian Belski Returns!

Michael Batnick — Fri, 03 Jul 2026 11:00:00 +0000

Today's Compound and Friends is brought to you by WisdomTree:

This episode is sponsored by WisdomTree. Learn more about the WisdomTree Quantum Computing Fund at https://www.wisdomtree.com/us/strategies/quantum-computing

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

On today’s show, we discuss:

Inside the Analyst Report That Saved Software Stocks

Charts:

Brian Belski:

LinkedIn: https://www.linkedin.com/in/brian-g-belski-8397004/
Twitter: https://x.com/briangbelski?lang=en

Recommendations:

The Agency

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Animal Spirits: Is Debt Fueling the Rally?

Michael Batnick — Wed, 01 Jul 2026 11:00:00 +0000

Today's Animal Spirits is sponsored by Franklin Templeton and Vanguard:

This episode is sponsored by Franklin Templeton. Learn more at franklintempleton.com/advantage

To learn more about Vanguard bonds, visit https://vanguard.com/audio.

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Tweets/Bluesky:

Recommendations:

Check out our t-shirts, coffee mugs, and other swag here.

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Talk Your Book: Investing in the Power Grid

Michael Batnick — Mon, 29 Jun 2026 11:00:00 +0000

Sponsored

Global Lens" style="width: 100%; height: auto; border-radius: 6px; display: block;">

Fixed Income Through a
Global Lens

Built on disciplined research and deep sector expertise, our globally-integrated fixed income platform delivers solutions for dynamic markets and diverse client needs.

Find Out More

On today’s show, we discuss:

Fueling the AI buildout by modernizing and expanding the power grid
The bottlenecks in the supply chain governing the speed of AI growth
The global need to scale out infrastructure and who's driving these projects
Are data centers increasing homeowner's utility costs?
The backlog of demand for power grid modernization beyond data centers
How a thematic fund goes beyond a sector fund in framing itself around a theme

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

Check out our t-shirts, coffee mugs, and other swag here.

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Important Disclosures from Frist Trust:

Mention of a specific security should not be construed as a recommendation to buy or sell or presumed profitable. You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.

The Compound and Friends: Too Early to Get Off The Wave with Ryan Detrick and Sonu Varghese

Michael Batnick — Fri, 26 Jun 2026 11:00:00 +0000

Sponsored

Global Lens" style="width: 100%; height: auto; border-radius: 6px; display: block;">

Fixed Income Through a
Global Lens

Built on disciplined research and deep sector expertise, our globally-integrated fixed income platform delivers solutions for dynamic markets and diverse client needs.

Find Out More

Today's Compound and Friends is brought to you by Nuveen and ClearBridge:

This episode is sponsored by Nuveen. Learn more about Nuveen’s comprehensive private markets platform at https://www.nuveen.com/en-us/insights/alternatives.

Rising geopolitical tensions, continued market uncertainty, stocks backed by can offer more predictable cash flows as volatility increases. Visit https://www.clearbridge.com/ to learn more.

The Compound and Friends:

The Compound and Friends

Join Downtown Josh Brown, Michael Batnick, and a rotation of their friends every Friday for expert insight and hot takes on the latest in business and investing.

podcasts.thecompoundnews.com/show/TCAF

Charts:

Tweets/Bluesky:

Ryan Detrick:

Twitter: https://x.com/RyanDetrick
LinkedIn: https://www.linkedin.com/in/ryandetrick/

Sonu Varghese:

Twitter: https://x.com/sonusvarghese
LinkedIn: https://www.linkedin.com/in/sonu-varghese-phd/

Check out our t-shirts, coffee mugs, and other swag here.

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Animal Spirits: Everything is Outperforming the S&P 500 This Year

Michael Batnick — Wed, 24 Jun 2026 11:15:00 +0000

Sponsored

Global Lens" style="width: 100%; height: auto; border-radius: 6px; display: block;">

Fixed Income Through a
Global Lens

Built on disciplined research and deep sector expertise, our globally-integrated fixed income platform delivers solutions for dynamic markets and diverse client needs.

Find Out More

Today's Animal Spirits is sponsored by

This episode is sponsored by Betterment Advisor Solutions. Learn more at Betterment.com/advisors

This episode is sponsored by YCharts. Visit https://go.ycharts.com/animal-spirits to start a free trial and get 20% off your initial YCharts Professional subscription (new customers only).

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

On today’s show, we discuss:

Charts:

Tweets/Bluesky:

Recommendations:

Check out our t-shirts, coffee mugs, and other swag here.

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Talk Your Book: AI Is Not a Bubble

Michael Batnick — Mon, 22 Jun 2026 11:00:00 +0000

Today's Talk Your Book is sponsored by Alger:

To learn more about Alger click here: www.alger.com/cneq

On today’s show, we discuss:

Why Dr. Ankur Crawford thinks the AI bubble talk is overblown
How supply chain consolidation gives the AI build-out unusual staying power
Why the earnings estimate matters more than the multiple in AI valuations
The case for power and industrials as overlooked AI infrastructure plays
Open source vs. closed models and where the value ultimately lands

Animal Spirits:

Animal Spirits Podcast

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…

podcasts.thecompoundnews.com/show/animalspirits

Charts:

Check out our t-shirts, coffee mugs, and other swag here.

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Disclosures from Alger:

The views expressed are the views of Fred Alger Management, LLC (FAM) and its affiliates as of June 2026. This material is not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities. Holdings are subject to change.

Risk Disclosures: Investing in the stock market involves risks, including the potential loss of principal. Growth stocks may be more volatile than