Never Pay Off Your Mortgage (EP. 436)

Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching. All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Ridholst Wealth Management. This podcast is for informational purposes only and should not be relied upon for any investment decisions.

Clients of Ridholdt's wealth management may maintain positions in the securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben. Michael, one of my all-time favorite stock charts. I think JP Morgan is the first one that did this. It shows the annual stock market returns along with the intra-year drawdown to get there.

And it y it typically shows even when there's gains, there is a drawdown on the way there. This year is a perfect encapsulation of that this isn't even just the drawdown this is the year to date returns as of April 8th 2025 the S<unk>P was down 15% NASDAQ was down 19 Russell 2000 was down 20 this is year to date returns okay if it was down four and the emerging markets were down eight holy now the s mike is now the S<unk>P is up 18 Nasdaq up 23 Russell up 14 IFA up 28 and emerging markets are up almost 35 percent The Russell was down 21 and now it's up 14. Yeah.

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