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Today on the podcast, we welcome back Ben Carlson, who’s the author of a new book called Risk and Reward. Ben is the director of institutional asset management for Ritholtz Wealth Management. In addition, Ben’s a prolific creator of content. His blog is called A Wealth of Common Sense. He also co-hosts the podcast Animal Spirits with Michael Batnick. Ben is the author of four books about investing and money, and he’s a CFA charterholder.

00:00:00 Understanding Market History Is About Preparation, Not Prediction

00:02:00 Lessons From Japan’s Asset Bubble and Mean Reversion

00:06:54 The Different Ways Investors Respond to Crashes

00:08:36 The Automatic Investing Revolution Has Changed Behavior

00:15:22 Why Patience Is Harder to Come By in an On‑Demand World

00:19:32 The Importance of Education in Private Asset Investing

00:21:35 Inflation Psychology and How to Respond

00:28:15 Two Different Kinds of Bear Markets

00:35:40 Using Alpha to Deliver Better Aftertax Outcomes for Clients

Everything You Need To Know About Saving For Retirement

Don’t Fall For It: A Short History of Financial Scams

Invest Your Way to Financial Freedom

Risk and Reward

Ben Carlson: How Not to Get Scammed

What We’ve Learned From 150 Years of Stock Market Crashes

The 60/40 Portfolio: A 150-Year Markets Stress Test

If you have a comment or a guest idea, please email us at [email protected].

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

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