Macro perspective on capital markets, economy, geopolitics, and technology from Barry Ritholtz.
My mid-week morning reads: • Costly Medicine: Claudia Sahm on Fed Week — the FOMC is highly likely to hike a quarter point Wednesday, and the Middle East and AI headlines stealing attention are the same stories driving the inflation risk. (Claudia Sahm) • The…
The transcript from this week’s, MiB: Seth Bernstein, Chief Executive Officer of AllianceBernstein, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Blo…
My Two-for-Tuesday morning reads: • What if Elon Musk Was Always Elon Musk? The most disturbing part of the controversial new four-hour documentary. (Slate) • Why So Many AI Researchers Think the Machines Could Kill Everyone: A combination of rapid advances, r…
For the second time in as many years, RWM made the Barron’s Top 100 RIA List. What makes this year’s list especially interesting is both its focus on private equity’s entry into the advisor space — and our decision to avoid that approach. Follow our history fr…
My back-to-work morning reads: • What Years of Inflation Have Done to American Prices: Life has gotten a lot more expensive over the past few years. Across the economy, the cost of goods and services has soared. Consumer prices overall have risen more than 30…
Writing, editing, and promoting How Not to Invest sucked up a lot of time over the past 2 years. One of the items that fell off my calendar was the weekend car posts. Other than an update on the 911 EV June 2025, I have not had time to get to much about… Read…
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat outside, and get ready for our longer-form weekend reads: • VC isn’t VC anymore — understanding the rise of Cancer Capital: There’s a huge disconnect between what most people think of…
This week, I speak with Seth Bernstein, Chief Executive Officer of AllianceBernstein (no relation). We discuss his tenure at JPMorgan Chase, where he was managing director and global head of Managed Solutions & Strategy at J.P. Morgan Asset Management. We also…
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The largely hidden force helping drive America’s craze for weight-loss drugs: Firms are spending hundreds of millions of do…
Has it really been 25 Years since 9/11? My end-of-week morning reads: • 25 Years After the Sept. 11 Attacks, Lower Manhattan Is Thriving: The neighborhood’s population has roughly tripled, dozens of office buildings became apartments, and financial services n…
I’m not a Shark Tank viewer. But I was intrigued by something Kevin O’Leary, aka Mr. Wonderful, said in this podcast (via a post by Nick Magiulli). O’Leary discusses various aspects of his career, including ideal investments and what many entrepreneurs should…
My morning reads: • Something Is Shifting in the Inflation Picture: Claudia Sahm on why she moved from hold to hike ahead of next week’s Fed meeting — a division no single CPI print will resolve. (Stay-At-Home Macro) • Netanyahu Got an Explicit Warning Befor…
At The Money: Considering a Career Change? How About FINFLUENCER? With Tyler Gardner (September 9, 2026) Ever think of a career change? Have you thought about becoming a “finfluencer” on TikTok, Insta, or YouTube? It could be both interesting AND lucrative. Fu…
My mid-week morning reads: • It’s a Concentrated World: The top 10 stocks in the S&P 500 make up almost 40% of the index. Each of the companies in the top 10 sport a market cap of $1 trillion or more. In fact, as of this writing, the 12 biggest companies all h…
From 2008 through 2022, the 10-year Treasury yield was never above 3.25%; it spent nearly all of 2019–21 under 2%, while the 30-year bottomed at ~1% in March 2020. What an amazing opportunity to refinance debt at ultra-low rates! But not every institutional de…
My Two-for-Tuesday morning reads: • Little Tobacco Moment Meta Wins. Our “Big Tobacco moment” ended with Meta’s shareholders richer, competitors weaker, and its business model intact. We’ve been played, again. Scott Galloway on the Meta settlement — 47 states…
The transcript from this week’s, MiB: Bill McNabb, Vanguard former Chairman and CEO, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (audio), and Bloomberg. All of our earlier podca…
My long weekend morning reads: • This data has helped fight workplace discrimination for 60 years. The Trump administration plans to delete it: The move marks a fundamental shift for the Equal Employment Opportunity Commission (EEOC). Without this data, it wil…
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • I Rented a Car, and Within Hours, My Driver’s License Was for Sale: Dan Goodin on the breach unfolding in real time — his license is one of 153 million on a new dark-we…
This week, I speak with William “Bill” McNabb. He’s the former chairman and CEO of Vanguard and now sits on the board at UnitedHealth, IBM, Axiom, and Altruist. We discuss his 30+ years at Vanguard and his career after leaving the company, working in the board…
Three-day weekend! Pour yourself a mug of Danish Blend coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How to build a cancer vaccine, and whether they will work this time: Typical cancer vaccines are vaccines given to you when y…
Heading out the door for the Labor Day weekend, with blue skies and 85° temperatures, I had to share a chart. It’s from the San Francisco Federal Reserve (via Torsten Slok of Apollo) and shows Wall Street expectations for Federal Reserve rate action. It’s the…
My end-of-week morning reads: • Job Postings Show Early Signs of AI Automation Impact: The Dallas Fed finds the automation signal starting to show up in the listings data. (Dallas Fed) • The Death of the Safe Haven: How to Fix Your Bond Strategy as Yields Ris…
I have been fascinated by Victor Niederhoffer for decades. I first learned about him in a New Yorker piece titled “The Blow-Up Artist;” I was intrigued by his unique strategies and by his tendencies to repeatedly boom and bust. That led me to have him on the p…
My morning reads: • AI at 70: 14 lessons from a lifetime of boom and bust: Adrian Cox of Deutsche Bank Research on seven decades of artificial intelligence cycles. (Deutsche Bank Research) • Global Debt Is Slumping But It’s Nothing Like the 2022 Rout: The diff…
I am a sucker for infographics like these: In 2025, Global GDP hit an all-time high of $118.4 trillion — about $14,406 per person worldwide. To reach $150T by 2030 — 26.7% higher than where we are now — would require 4 years of gains averaging 4.86%. Any combi…
My mid-week morning reads: • ‘Rich Dad Poor Dad’ self-help author Robert Kiyosaki is $1.2 billion in debt: report. The self-help guru who has made a fortune preaching the secrets of financial success — has amassed a staggering $1.2 billion in debt tied to his…
The transcript from this week’s, MiB: David Booth, Dimensional Fund Advisors Founder & Chairman, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Bloomb…
Welcome to September! Kick the month off right with your morning reads: • Higher Yields Are a Boon for Muni Bond Buyers: The rise in bond yields has been a good news/bad news story. For the U.S. Treasury, the increase has been disquieting and has elicited an e…
The end of August? How did that happen? Bid it farewell with my back-to-work morning reads: • Is the AI Capex Bubble About to Burst? What 250 Years of Market History Tell Us. The spending on artificial intelligence will end, but probably not when investors sus…