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- Animal Spirits: It Feels Like 1999
Animal Spirits: It Feels Like 1999
Michael Batnick
October 08, 2025
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Today's Animal Spirits is sponsored by Betterment Advisor Solutions and Vanguard:
This episode is sponsored by Betterment Advisor Solutions. Grow your RIA, your way by visiting: https://Betterment.com/advisors
This episode is sponsored by Vanguard. Learn more at: https://www.vanguard.com/audio
Animal Spirits:
On today’s show, we discuss:
Rigetti Computing CEO after a 48% spike in stock price: We have to tamp down expectations
Meta's Big Bet on Wearables and Superintelligence, Explained
The Credit Market Is Humming--and That Has Wall Street On Edge
Americans increasingly see legal sports betting as a bad thing for society and sports
How Kenn Ricci Went From Pilot to Billionaire. 'I Am Accidentally Wealthy.'
Charts:
Tweets/Bluesky:
According to Challenger, the pace of hiring has fallen off a cliff. Weakest September for job creation since 2011. bloomberg.com/news/articles/…
— Joe Weisenthal (@TheStalwart)
11:48 AM • Oct 2, 2025
This is a surface level take.
Most AI capex (i.e. from hyperscalers) is spending against current demand with revenue coming in immediately.
Let's dig a little deeper.
— John Shedletsky (@Shedletsky)
4:33 PM • Oct 3, 2025
Returns have been basically straight up since the Liberation Day lows. The Nasdaq has not seen even a 3% correction since then. The streak is now at 115 market days, the seventh longest going back to 1971. For comparison, the index has averaged a 3% correction every 20 days.
— Rob Anderson (@_rob_anderson)
7:25 PM • Oct 3, 2025
For international equities the valuation question doesn’t pose much of a dilemma. The MSCI EAFE index not only has a reasonable valuation of 16.5x expected earnings, but its payout growth (as well as payout ratio) has become quite competitive with the US. International
— Jurrien Timmer (@TimmerFidelity)
2:00 PM • Oct 1, 2025
Everyone is a genius in a bull mkt
— TTI (@TikTokInvestors)
2:02 AM • Oct 5, 2025
There are now 19 stocks in the Russell 3,000 up more than 400% since the 4/8 Tariff Crash low.
— Bespoke (@bespokeinvest)
8:36 PM • Oct 3, 2025
Paul Tudor Jones just said on CNBC that he thinks the ingredients are in place for massive stock price increases before the bull market tops out
“My guess is that I think all the ingredients are in place for some kind of a blow off" ... “History rhymes a lot, so I would think
— Evan (@StockMKTNewz)
12:46 PM • Oct 6, 2025
There is a bubble in financial news stories that lead w/a picture of a bubble
Saw all of these in stories just in the past week
— Ben Carlson (@awealthofcs)
1:27 PM • Oct 6, 2025
The last 6 months have been all about low quality.
The junikier the better! @AugurInfinity
Stocks of tech companies that are not profitable have more than doubled since the April 8 low.
augurdigest.com/p/augur-digest…— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi)
4:33 PM • Oct 3, 2025
I don't own any BDC's, but the BDC squad is flashing a warning sign. All names in the toilet this year, and a lot of the sponsored BDC's like HSBD, CGBD, OBDC are absolutely tanking.
— Cluseau Investments (@blondesnmoney)
5:13 PM • Sep 30, 2025
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