State of the American Investor (EP. 427)

Michael and Ben discuss the stock market's reaction to labor market news and the potential for rate cuts, debating whether the current market resembles 1996 or 1999, and noting the broadening market participation. They analyze value versus growth stock performance, the impact of zero-interest-rate policies, and the popularity of options trading and YieldMax ETFs. They also discuss a Fidelity report on investor sentiment, the changing landscape of retail investing, and the concentration of wealth among upper-income households. Finally, they touch on real estate trends, the challenges faced by educational endowments, and offer recommendations, including revisiting the movie "Office Space" and exploring audiobooks.