The Biggest Risk in 2026 (EP. 444)
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The Biggest Risk in 2026 (EP. 444)

1:06:51 Dec 24, 2025
About this episode
On episode 444 of Animal Spirits, ?????????????????????Michael Batnick????????????????????? and ?????????????????????Ben Carlson????????????????????? discuss what a normal year in the stock market looks like, time traveling through drawdowns, the case for small/mid cap stocks, how many stocks double each year, record cash balances, the economy keeps growing, financial nihilism, gambling, illiquidity risk in private investments and much more. This episode is sponsored by TradePMR & Fabric by Gerber Life. Find more details on TradePMR by visiting: https://hubs.li/Q03XS3Sj0 Join the thousands of parents who trust Fabric to help protect their family. Apply today in just minutes at: https://meetfabric.com/SPIRITS Sign up for The Compound newsletter and never miss out: ?????????????????????thecompoundnews.com/subscribe????????????????????? 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.   TradePMR Disclosure: TradePMR, Inc. Member FINRA/SIPC. Securities offered through TradePMR Inc. TradePMR, Inc. is a wholly owned subsidiary of Robinhood Markets, Inc. Please review the full Terms and Conditions at (https://tradepmr.com/asset-match-terms-and-conditions) for the complete rules, requirements, and obligations that apply to participation in the program. 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. The Compound Media, Incorporated, an affiliate of ?????????????????????Ritholtz Wealth Management?????????????????????, receives payment from various entities for advertisements in affiliate
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