Guest: Barry Ritholtz — author, columnist, and host of Bloomberg's "Masters in Business"

Financial markets aren't rational. Humans aren't rational. So why do we keep pretending capitalism is? In this episode, Dave sits down with Barry Ritholtz to unpack the myths, narratives, and straight-up fairy tales that shape the modern economy — the stories Wall Street sells, the fears politicians weaponize, and why we're still chasing magical thinking long after the data tells us otherwise.

From GameStop mania to meme-stock tribalism, from Tesla's trillion-dollar fever dream to why Bitcoin is basically a tech stock in cosplay, Barry explains how storytelling — not logic — drives the markets we all live under. They dig into media incentives, market manipulation, why expertise is often an illusion, and why fear is the most powerful economic force humans ever invented.

And yes, Bigfoot makes an appearance — because if cryptids represent the harmless myths we enjoy, then financial myths represent the dangerous ones we should probably stop believing.

In This Episode

• Why humans believe market stories more than data

• How myths spread faster than truth in the digital age

• GameStop, Reddit, and the democratization myth

• Why the stock market is still a rich person's game

• Tesla's valuation, tech narratives, and irrational confidence

• Fear as an economic driver — and how propaganda exploits it

• Bitcoin maximalists, magical thinking, and rotating narratives

• How Barry built his new book How Not to Invest

• Why our brains are wired for bad financial decisions

• Tribalism, conspiracy thinking, and why it all feels familiar

Barry's New Book

How Not to Invest: The Ideas, Numbers, and Behavior That Destroy Wealth and How to Avoid Them A practical, funny, and brutally honest guide to avoiding the mistakes investors make every day.

Pull Quotes

"A lie can circle the world before the truth even laces up its shoes." "The market is rational… until it's not." "Bitcoin is a solution in search of a problem." "Propaganda isn't meant to convince you — it's meant to make you trust nothing but the propagandist."

Links

📘 How Not to Invest — Barry Ritholtz 🎧 Dave's previous film Americonned featuring Barry 🔗 Podcast links:

• Spotify: https://tinyurl.com/bigfootmanifesto-spotify

• Apple Podcasts: https://tinyurl.com/bigfootmanifesto-apple

• YouTube: youtube.com/@thebigfootmanifesto