AI Summary
5 min read🎙️ The Voices & The Context
- The Format: This is a live, in-person podcast recording from a financial conference in Miami. It blends a casual, conversational interview style with audience participation and a planned "roast" segment.
- The Key Players:
- Michael Batnick & Ben Carlson: The co-hosts of Animal Spirits. They have a well-established, friendly, and often self-deprecating chemistry. Ben is the more reserved, data-driven writer, while Michael is the more energetic, market-obsessed personality.
- Michael Kitsis (Guest): A leader at an advisory firm, brought on to discuss the existential threat of AI to financial advisors.
- Phil Huber (Guest): Head of Portfolio Solutions at Cliffwater, a major player in private credit, brought on to defend the asset class against negative media headlines.
- The Vibe: Fun, Educational, and Defensive. The tone is lighthearted and self-aware, especially during the opening banter and the roast. However, the core interviews are serious, with both guests on the defensive—one defending the advisor profession from AI, the other defending private credit from a media "bubble" narrative.
🗝️ Key Themes & Topics
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What you'll learn
- 1 (00:00) **🎙️ Introduction: Michael Kitsis & Phil Huber**
- 2 (04:00) **AI's Threat to Financial Advisors**
- 3 (09:50) **Interview: Michael Kitsis on AI & Advisors**
- 4 (22:30) **Interview: Phil Huber on Private Credit**
- 5 (39:00) **The Roast Battle**
+ Full timestamped outline available in the app
Show Notes
On episode 455 of Animal Spirits, Michael Batnick and Ben Carlson are live from Future Proof Citywide in Miami talking with Michael Kitces and Phil Huber about the wealth management business in the age of AI, the private credit crisis of confidence and a very special Animal Spirits roast.
This episode is sponsored by Teucrium and Janus Henderson Investors.
- Find out more at https://teucrium.com/agricultural-commodity-etfs
- Learn more at https://www.janushenderson.com/
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Find complete show notes on our blogs:
Ben Carlson’s A Wealth of Common Sense
Michael Batnick’s The Irrelevant Investor
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Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.
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