Panic With Friends


I had some fun last week chatting with Howard Lindzon, whom I previously had on MiB. And he is part of my conversation about my worst trades.

Here is Howard:

“I’m excited to have my good friend Barry Ritholtz back on the show. Barry is the Chairman and CIO of Rithotz Wealth Management, an author, a newspaper columnist, and the host of the Bloomberg Podcast Masters in Business. He also runs a blog called The Big Picture, along with Josh Brown and Michael Batnick. I had Josh Brown on a few weeks ago, so I really wanted to bring Barry on to further the discussion. And who better to discuss the recent banking crisis than the guy who wrote the book on the Great Financial Crisis? (Bailout Nation). We cover how the market drives the narrative, and Barry shares his insight on a COVID-induced ‘reset’, the Fed, inflation, and how it all might play out moving forward. Enjoy!”

Always fun stuff with Howard…


My Worst Trades (September 7, 2021)




Show Notes:

  • Introduction. (00:38)
  • Welcome Barry (07:07)
  • Strong opinions (09:15)
  • Market actions drive narratives (12:28)
  • Narrative fallacy & hindsight bias (14:02)
  • Asset allocation (16:00)
  • COVID reset (19:35)
  • GFC v. banking crisis (23:56)
  • What caused the bank run (26:28)
  • VC’s becoming price takers (28:05)
  • Interest rates & Inflation (30:53)
  • The Moody’s tax (33:56)
  • What else Barry’s excited about (35:38)
  • Barry’s favorite podcast guests (37:15)
  • VC’s shotgun approach (43:32)
  • Private v. Public markets (47:06)
  • Consistency leads to long-term performance (47:49)
  • Wealth mobility in the US (48:55)
  • Barry’s other favorite podcast guest (50:25)
  • Shows Barry’s watching (53:30)
  • Closing thoughts. (57:08)



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