Episode Details

Listen Now: Listen and subscribe to Morningstar’s The Long View from your mobile device: Apple Podcasts | Spotify

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.

Episode Highlights

• 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

More From Ben Carlson

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

More From Morningstar

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 TheLongView@Morningstar.com.

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and

Listen Now