Ben Carlson
@bencarlson007.bsky.social
www.awealthofcommonsense.com
Animal Spirits: Is a 50 Year Mortgage a Good Idea?
The benefits of bubbles
The K-shaped economy narrative is going too far
Why are restaurant stocks getting killed?
How to fix the housing market
Robinhood, degens, Las Vegas & more
awealthofcommonsense.com/2025/11/anim...
The benefits of bubbles
The K-shaped economy narrative is going too far
Why are restaurant stocks getting killed?
How to fix the housing market
Robinhood, degens, Las Vegas & more
awealthofcommonsense.com/2025/11/anim...
November 12, 2025 at 1:51 PM
Animal Spirits: Is a 50 Year Mortgage a Good Idea?
The benefits of bubbles
The K-shaped economy narrative is going too far
Why are restaurant stocks getting killed?
How to fix the housing market
Robinhood, degens, Las Vegas & more
awealthofcommonsense.com/2025/11/anim...
The benefits of bubbles
The K-shaped economy narrative is going too far
Why are restaurant stocks getting killed?
How to fix the housing market
Robinhood, degens, Las Vegas & more
awealthofcommonsense.com/2025/11/anim...
In the Roaring 20s Benjamin Graham turned $400k into $2.5 million
After the crash from 1929-1932 the $2.5 million turned into just $375k
In his memoir Graham wrote about how hubris was the cause of his losses
Some thoughts on bull market brain:
awealthofcommonsense.com/2025/11/ben-...
After the crash from 1929-1932 the $2.5 million turned into just $375k
In his memoir Graham wrote about how hubris was the cause of his losses
Some thoughts on bull market brain:
awealthofcommonsense.com/2025/11/ben-...
November 11, 2025 at 9:21 PM
In the Roaring 20s Benjamin Graham turned $400k into $2.5 million
After the crash from 1929-1932 the $2.5 million turned into just $375k
In his memoir Graham wrote about how hubris was the cause of his losses
Some thoughts on bull market brain:
awealthofcommonsense.com/2025/11/ben-...
After the crash from 1929-1932 the $2.5 million turned into just $375k
In his memoir Graham wrote about how hubris was the cause of his losses
Some thoughts on bull market brain:
awealthofcommonsense.com/2025/11/ben-...
Everyone thinks young ppl are screwed
AI is taking entry level jobs
Housing is too expensive
Social media is rotting brains
I don't buy it. Young ppl are more educated & tech savvy than ever
They'll figure it out
awealthofcommonsense.com/2025/11/are-...
AI is taking entry level jobs
Housing is too expensive
Social media is rotting brains
I don't buy it. Young ppl are more educated & tech savvy than ever
They'll figure it out
awealthofcommonsense.com/2025/11/are-...
November 10, 2025 at 3:30 PM
Everyone thinks young ppl are screwed
AI is taking entry level jobs
Housing is too expensive
Social media is rotting brains
I don't buy it. Young ppl are more educated & tech savvy than ever
They'll figure it out
awealthofcommonsense.com/2025/11/are-...
AI is taking entry level jobs
Housing is too expensive
Social media is rotting brains
I don't buy it. Young ppl are more educated & tech savvy than ever
They'll figure it out
awealthofcommonsense.com/2025/11/are-...
Pluribus might be one of the best pilot TV episodes of the past 20 years
Insanely intriguing
Insanely intriguing
November 10, 2025 at 2:20 AM
Pluribus might be one of the best pilot TV episodes of the past 20 years
Insanely intriguing
Insanely intriguing
In the 1950s the S&P 500 was up ~500% or almost 20% per year
It's the only mega bull market to end w/a whimper not a bang
There was no crash in the aftermath
The 1960s saw 8% annual returns
Not all good things end badly
awealthofcommonsense.com/2025/11/the-...
It's the only mega bull market to end w/a whimper not a bang
There was no crash in the aftermath
The 1960s saw 8% annual returns
Not all good things end badly
awealthofcommonsense.com/2025/11/the-...
November 5, 2025 at 4:27 PM
In the 1950s the S&P 500 was up ~500% or almost 20% per year
It's the only mega bull market to end w/a whimper not a bang
There was no crash in the aftermath
The 1960s saw 8% annual returns
Not all good things end badly
awealthofcommonsense.com/2025/11/the-...
It's the only mega bull market to end w/a whimper not a bang
There was no crash in the aftermath
The 1960s saw 8% annual returns
Not all good things end badly
awealthofcommonsense.com/2025/11/the-...
Animal Spirits: Never Go All In on Stocks
A historic melt-up in tech
The case against an AI bubble
Sequence of return risk
Young ppl need to suck it up
AI chart crimes, Michael Saylor & more
awealthofcommonsense.com/2025/11/anim...
A historic melt-up in tech
The case against an AI bubble
Sequence of return risk
Young ppl need to suck it up
AI chart crimes, Michael Saylor & more
awealthofcommonsense.com/2025/11/anim...
November 5, 2025 at 3:29 PM
Animal Spirits: Never Go All In on Stocks
A historic melt-up in tech
The case against an AI bubble
Sequence of return risk
Young ppl need to suck it up
AI chart crimes, Michael Saylor & more
awealthofcommonsense.com/2025/11/anim...
A historic melt-up in tech
The case against an AI bubble
Sequence of return risk
Young ppl need to suck it up
AI chart crimes, Michael Saylor & more
awealthofcommonsense.com/2025/11/anim...
This is how you macro
November 3, 2025 at 8:16 PM
This is how you macro
At the lows in April Nvidia's market cap was $2.3 trillion
Today it's >$5.1 trillion
Unreal
Today it's >$5.1 trillion
Unreal
October 29, 2025 at 2:26 PM
At the lows in April Nvidia's market cap was $2.3 trillion
Today it's >$5.1 trillion
Unreal
Today it's >$5.1 trillion
Unreal
Animal Spirits: Never Pay Off Your Mortgage
Can we have a capex bubble w/o a stock market bubble?
How many stocks outperform?
We need lower housing prices
Do retail investors even want private investments?
Americans love eating out & more
awealthofcommonsense.com/2025/10/anim...
Can we have a capex bubble w/o a stock market bubble?
How many stocks outperform?
We need lower housing prices
Do retail investors even want private investments?
Americans love eating out & more
awealthofcommonsense.com/2025/10/anim...
October 29, 2025 at 12:54 PM
Animal Spirits: Never Pay Off Your Mortgage
Can we have a capex bubble w/o a stock market bubble?
How many stocks outperform?
We need lower housing prices
Do retail investors even want private investments?
Americans love eating out & more
awealthofcommonsense.com/2025/10/anim...
Can we have a capex bubble w/o a stock market bubble?
How many stocks outperform?
We need lower housing prices
Do retail investors even want private investments?
Americans love eating out & more
awealthofcommonsense.com/2025/10/anim...
These were YTD returns as of 4/8/25:
S&P 500 -15.0%
Nasdaq 100 -18.5%
R2000 -20.7%
EAFE -3.5%
EM -7.8%
Now the 2025 YTD returns thru Monday:
S&P 500 +17.9%
Nasdaq 100 +23.3%
R2000 +14.2%
EAFE +28.8%
EM +34.5%
Staying the course worked (again):
awealthofcommonsense.com/2025/10/stay...
S&P 500 -15.0%
Nasdaq 100 -18.5%
R2000 -20.7%
EAFE -3.5%
EM -7.8%
Now the 2025 YTD returns thru Monday:
S&P 500 +17.9%
Nasdaq 100 +23.3%
R2000 +14.2%
EAFE +28.8%
EM +34.5%
Staying the course worked (again):
awealthofcommonsense.com/2025/10/stay...
October 28, 2025 at 5:24 PM
These were YTD returns as of 4/8/25:
S&P 500 -15.0%
Nasdaq 100 -18.5%
R2000 -20.7%
EAFE -3.5%
EM -7.8%
Now the 2025 YTD returns thru Monday:
S&P 500 +17.9%
Nasdaq 100 +23.3%
R2000 +14.2%
EAFE +28.8%
EM +34.5%
Staying the course worked (again):
awealthofcommonsense.com/2025/10/stay...
S&P 500 -15.0%
Nasdaq 100 -18.5%
R2000 -20.7%
EAFE -3.5%
EM -7.8%
Now the 2025 YTD returns thru Monday:
S&P 500 +17.9%
Nasdaq 100 +23.3%
R2000 +14.2%
EAFE +28.8%
EM +34.5%
Staying the course worked (again):
awealthofcommonsense.com/2025/10/stay...
We haven't had a real recession in 196 months
Some questions for the next one:
Will the wealth effect make things worse?
Will young ppl stay invested?
What will happen to illiquid private investments?
Will households ramp up their borrowing?
awealthofcommonsense.com/2025/10/what...
Some questions for the next one:
Will the wealth effect make things worse?
Will young ppl stay invested?
What will happen to illiquid private investments?
Will households ramp up their borrowing?
awealthofcommonsense.com/2025/10/what...
October 27, 2025 at 6:21 PM
We haven't had a real recession in 196 months
Some questions for the next one:
Will the wealth effect make things worse?
Will young ppl stay invested?
What will happen to illiquid private investments?
Will households ramp up their borrowing?
awealthofcommonsense.com/2025/10/what...
Some questions for the next one:
Will the wealth effect make things worse?
Will young ppl stay invested?
What will happen to illiquid private investments?
Will households ramp up their borrowing?
awealthofcommonsense.com/2025/10/what...
3 things:
1. New vehicles are really expensive now
2. People under 40 are all in on the stock market
3. Wealth inequality is turning into health inequality
awealthofcommonsense.com/2025/10/3-ch...
1. New vehicles are really expensive now
2. People under 40 are all in on the stock market
3. Wealth inequality is turning into health inequality
awealthofcommonsense.com/2025/10/3-ch...
October 22, 2025 at 2:19 PM
3 things:
1. New vehicles are really expensive now
2. People under 40 are all in on the stock market
3. Wealth inequality is turning into health inequality
awealthofcommonsense.com/2025/10/3-ch...
1. New vehicles are really expensive now
2. People under 40 are all in on the stock market
3. Wealth inequality is turning into health inequality
awealthofcommonsense.com/2025/10/3-ch...
Animal Spirits: The Zero Dollar Club
Everyone thinks AI is a bubble
What would Jesse Livermore think of this market?
The pros & cons of owning gold
Shorting stocks is hard
Will Bitcoin hit $200k by 2027?
Leveraged ETFs are out of control & more
awealthofcommonsense.com/2025/10/anim...
Everyone thinks AI is a bubble
What would Jesse Livermore think of this market?
The pros & cons of owning gold
Shorting stocks is hard
Will Bitcoin hit $200k by 2027?
Leveraged ETFs are out of control & more
awealthofcommonsense.com/2025/10/anim...
October 22, 2025 at 12:43 PM
Animal Spirits: The Zero Dollar Club
Everyone thinks AI is a bubble
What would Jesse Livermore think of this market?
The pros & cons of owning gold
Shorting stocks is hard
Will Bitcoin hit $200k by 2027?
Leveraged ETFs are out of control & more
awealthofcommonsense.com/2025/10/anim...
Everyone thinks AI is a bubble
What would Jesse Livermore think of this market?
The pros & cons of owning gold
Shorting stocks is hard
Will Bitcoin hit $200k by 2027?
Leveraged ETFs are out of control & more
awealthofcommonsense.com/2025/10/anim...
There is a reason rich ppl spent a lot of time trying to convince low income workers the economy was terrible in 2021, 2022 and 2023
October 20, 2025 at 3:14 PM
There is a reason rich ppl spent a lot of time trying to convince low income workers the economy was terrible in 2021, 2022 and 2023
18% of American households are now millionaires (if you include home equity)
For many that wealth is mostly tied up in their home and retirement accts
Some thoughts on the pros and cons of being house/retirement acct rich:
awealthofcommonsense.com/2025/10/hous...
For many that wealth is mostly tied up in their home and retirement accts
Some thoughts on the pros and cons of being house/retirement acct rich:
awealthofcommonsense.com/2025/10/hous...
October 18, 2025 at 2:21 PM
18% of American households are now millionaires (if you include home equity)
For many that wealth is mostly tied up in their home and retirement accts
Some thoughts on the pros and cons of being house/retirement acct rich:
awealthofcommonsense.com/2025/10/hous...
For many that wealth is mostly tied up in their home and retirement accts
Some thoughts on the pros and cons of being house/retirement acct rich:
awealthofcommonsense.com/2025/10/hous...
You can’t ask for better bomber jacket weather than this
We have like a month long window in the Midwest to wear coats like this
Now is the time
We have like a month long window in the Midwest to wear coats like this
Now is the time
October 17, 2025 at 6:02 PM
You can’t ask for better bomber jacket weather than this
We have like a month long window in the Midwest to wear coats like this
Now is the time
We have like a month long window in the Midwest to wear coats like this
Now is the time
The 2020s boom times:
The rich are getting richer
But low income Americans now own more stocks than ever before
Housing is more expensive
But that has made more young ppl invest in the stock market
Two positive trends in household wealth:
awealthofcommonsense.com/2025/10/two-...
The rich are getting richer
But low income Americans now own more stocks than ever before
Housing is more expensive
But that has made more young ppl invest in the stock market
Two positive trends in household wealth:
awealthofcommonsense.com/2025/10/two-...
October 15, 2025 at 2:36 PM
The 2020s boom times:
The rich are getting richer
But low income Americans now own more stocks than ever before
Housing is more expensive
But that has made more young ppl invest in the stock market
Two positive trends in household wealth:
awealthofcommonsense.com/2025/10/two-...
The rich are getting richer
But low income Americans now own more stocks than ever before
Housing is more expensive
But that has made more young ppl invest in the stock market
Two positive trends in household wealth:
awealthofcommonsense.com/2025/10/two-...
Animal Spirits: Did the Market Just Top?
Can anyone call the AI top?
Good news for low income Americans
Why high housing costs are good for the stock market
The cash on the sidelines fallacy
The crypto liquidation
Don't be house rich & more
awealthofcommonsense.com/2025/10/anim...
Can anyone call the AI top?
Good news for low income Americans
Why high housing costs are good for the stock market
The cash on the sidelines fallacy
The crypto liquidation
Don't be house rich & more
awealthofcommonsense.com/2025/10/anim...
October 15, 2025 at 1:27 PM
Animal Spirits: Did the Market Just Top?
Can anyone call the AI top?
Good news for low income Americans
Why high housing costs are good for the stock market
The cash on the sidelines fallacy
The crypto liquidation
Don't be house rich & more
awealthofcommonsense.com/2025/10/anim...
Can anyone call the AI top?
Good news for low income Americans
Why high housing costs are good for the stock market
The cash on the sidelines fallacy
The crypto liquidation
Don't be house rich & more
awealthofcommonsense.com/2025/10/anim...
Since 1990 the S&P 500 has averaged 31 down days a year w/losses of 1% or worse
It happens
Stocks go down too
awealthofcommonsense.com/2025/10/stoc...
It happens
Stocks go down too
awealthofcommonsense.com/2025/10/stoc...
October 14, 2025 at 4:37 PM
Since 1990 the S&P 500 has averaged 31 down days a year w/losses of 1% or worse
It happens
Stocks go down too
awealthofcommonsense.com/2025/10/stoc...
It happens
Stocks go down too
awealthofcommonsense.com/2025/10/stoc...
October 11, 2025 at 1:18 PM
Americans have never been wealthier than they are today
So why don't more ppl feel rich?
-Inflation
-Inflated expectations
-Wealth inequality
awealthofcommonsense.com/2025/10/why-...
So why don't more ppl feel rich?
-Inflation
-Inflated expectations
-Wealth inequality
awealthofcommonsense.com/2025/10/why-...
October 9, 2025 at 2:00 PM
Americans have never been wealthier than they are today
So why don't more ppl feel rich?
-Inflation
-Inflated expectations
-Wealth inequality
awealthofcommonsense.com/2025/10/why-...
So why don't more ppl feel rich?
-Inflation
-Inflated expectations
-Wealth inequality
awealthofcommonsense.com/2025/10/why-...
It's crazy to see both stocks and gold booming in the same decade
This has never happened before in modern times
This has never happened before in modern times
October 8, 2025 at 2:08 PM
It's crazy to see both stocks and gold booming in the same decade
This has never happened before in modern times
This has never happened before in modern times
Animal Spirits: It Feels Like 1999
No one is going to call the top
We have a bubble in bubble predictions
A bull market in wealth inequality
Hyperscalers vs. the labor market
Why are foreign stocks & gold outperforming during an AI boom?
awealthofcommonsense.com/2025/10/anim...
No one is going to call the top
We have a bubble in bubble predictions
A bull market in wealth inequality
Hyperscalers vs. the labor market
Why are foreign stocks & gold outperforming during an AI boom?
awealthofcommonsense.com/2025/10/anim...
October 8, 2025 at 1:05 PM
Animal Spirits: It Feels Like 1999
No one is going to call the top
We have a bubble in bubble predictions
A bull market in wealth inequality
Hyperscalers vs. the labor market
Why are foreign stocks & gold outperforming during an AI boom?
awealthofcommonsense.com/2025/10/anim...
No one is going to call the top
We have a bubble in bubble predictions
A bull market in wealth inequality
Hyperscalers vs. the labor market
Why are foreign stocks & gold outperforming during an AI boom?
awealthofcommonsense.com/2025/10/anim...
Some spending rules:
Randomly pick up the tab for your friends on a night out
Vacations give you more memories than the balance of your portfolio
Certain material possessions can make you happier
Save & invest up front so you can spend guilt free
awealthofcommonsense.com/2025/10/bens...
Randomly pick up the tab for your friends on a night out
Vacations give you more memories than the balance of your portfolio
Certain material possessions can make you happier
Save & invest up front so you can spend guilt free
awealthofcommonsense.com/2025/10/bens...
October 7, 2025 at 1:35 PM
Some spending rules:
Randomly pick up the tab for your friends on a night out
Vacations give you more memories than the balance of your portfolio
Certain material possessions can make you happier
Save & invest up front so you can spend guilt free
awealthofcommonsense.com/2025/10/bens...
Randomly pick up the tab for your friends on a night out
Vacations give you more memories than the balance of your portfolio
Certain material possessions can make you happier
Save & invest up front so you can spend guilt free
awealthofcommonsense.com/2025/10/bens...
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
Saw all of these in stories just in the past week
October 6, 2025 at 1:27 PM
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
Saw all of these in stories just in the past week