Investing is usually boring. Honestly, most financial media feels like a chore, filled with suits in midtown studios talking about basis points in voices that could put a caffeinated toddler to sleep. But then there’s The Compound and Friends podcast. It’s different. It feels like sitting at a bar with your smartest friends—the ones who actually manage billions of dollars but still know how to make a joke about 90s hip-hop or a bad steakhouse.
Josh Brown and Michael Batnick, the guys behind Ritholtz Wealth Management, have captured lightning in a bottle here. They aren't just reading charts. They’re contextualizing the insanity of the modern markets.
What Makes The Compound and Friends Podcast Different?
Most people stumble onto the show because of "Downtown" Josh Brown’s regular appearances on CNBC’s Half-Time Report. He’s got that fast-talking, no-nonsense New York energy. But on the podcast, released every Friday, the filter comes off. It’s raw.
The structure is intentionally loose. Every week, Josh and Michael invite a guest—sometimes it's a legendary hedge fund manager like Dan Niles, sometimes it's a financial journalist like Becky Quick, and other times it's an industry disruptor. They drink beer. They argue. They laugh. They talk about the "vibes" of the economy, which, let's be real, is often more accurate than any spreadsheet.
The magic is in the chemistry. Michael Batnick, the Director of Research at Ritholtz, acts as the perfect foil to Josh. While Josh is the big-picture storyteller, Michael is the data-driven skeptic who isn't afraid to admit when he’s wrong. That humility is rare in finance. You’ve probably seen "The Irrelevant Investor" blog—that’s Michael. He brings that same "I’m just trying to figure this out like everyone else" energy to the microphone.
It works because they don't talk down to you. They assume you're smart, but they also know you're busy.
The Evolution of the Show
It didn't start as a massive production. In the beginning, it was just an extension of The Compound YouTube channel. But as the "FinTwit" (Financial Twitter) community grew, so did the demand for a long-form Friday show. Now, it’s a cornerstone of the financial media landscape.
The production value has spiked, too. They’ve moved into a high-end studio in New York City, and the audio quality reflects that. Duncan Hill, their producer, is often mentioned as the silent hero keeping the train on the tracks. Without him, it would probably just be two hours of Josh talking about the Knicks.
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Why the Guests Matter
The "Friends" part of The Compound and Friends podcast isn't just marketing fluff. They bring on people they actually like. This creates a level of comfort that you don't see on traditional news outlets.
Take an episode with someone like Jim Chanos. In a typical 3-minute TV segment, he can only give a soundbite about his latest short position. On The Compound, he can spend forty minutes explaining the structural history of financial fraud. You actually learn something. You get the "why" behind the "what."
The roster is a "who's who" of the investing world:
- Jason Zweig from the Wall Street Journal
- Liz Young from SoFi
- Tadas Viskanta from Ritholtz
- Packy McCormick from Not Boring
They even do live shows. They’ve sold out venues in Huntington and New York, proving that people don't just want financial advice—they want community. They want to belong to a group of investors who are skeptical of get-rich-quick schemes but optimistic about the long-term power of the markets.
Navigating the Noise
We live in an era of information overload. Between TikTok "finfluencers" telling you to buy 0DTE options and doomsday prophets on YouTube claiming the dollar is collapsing, it’s hard to know who to trust.
Josh and Michael are "permabulls" in the best sense of the word. They believe in the American economy. They believe in the S&P 500. But they aren't blind to the risks. They talk about inflation, interest rates, and geopolitical tension with a sense of pragmatism that is incredibly grounding when the market is red.
They often discuss the "behavioral" side of investing. This is huge. Most people fail at investing not because they picked the wrong stocks, but because they couldn't handle the volatility. They sold at the bottom. The podcast acts as a weekly therapy session for your portfolio.
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"Investing is the only business where when things go on sale, everyone runs out of the store."
That’s a classic Josh-ism. It’s simple, but it’s true. Hearing that on a Friday afternoon after a rough week in the Nasdaq can be the difference between making a panic move and staying the course.
The Technical Stuff (Without the Boredom)
While the tone is conversational, the content is deep. They dive into:
- Market Internals: They don't just look at the price of the S&P; they look at breadth. Are only five stocks moving the whole market?
- Economic Indicators: They'll break down the CPI (Consumer Price Index) or the latest jobs report in a way that actually makes sense for your wallet.
- Alternative Assets: From Bitcoin to Gold to Real Estate, nothing is off the table, though they usually approach "crypto" with a healthy dose of skepticism and humor.
The Cultural Impact of the Show
It’s kind of crazy how much pull this show has now. When they mention a book, it hits the Amazon bestseller list. When they mention a specific ETF or a market trend, people notice.
But it’s not just about the money. They talk about watches. They talk about movies. They talk about the best pizza in New York. This humanizes the industry. It breaks the stereotype of the "Wall Street Psycho." These are dads. They’re sports fans. They’re people who worry about their kids’ college funds just like you do.
The show has spawned a whole network of content under "The Compound" umbrella, including Animal Spirits (Michael Batnick and Ben Carlson’s show) and Ask The Compound. But the Friday show remains the flagship. It’s the one everyone waits for.
Common Misconceptions
People sometimes think because they work for a wealth management firm, the whole podcast is just a giant commercial. It’s really not. Sure, they mention Ritholtz Wealth Management, but they rarely give "buy" or "sell" recommendations. In fact, they’re very careful about compliance.
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Another misconception is that it’s only for "pros."
Nope.
Whether you have $500 in a Robinhood account or $5 million in a 401k, the lessons are the same. In fact, if you’re a beginner, this is probably the best place to start because it teaches you the language of the markets without the pretension.
How to Get the Most Out of Listening
Don't just put it on in the background while you're doing dishes—though it’s great for that, too.
Listen for the "Big Picture" takeaways. Every episode usually has one or two "aha!" moments where a guest explains a concept in a way that finally clicks.
For instance, when they talk about "Mean Reversion," they aren't just talking about math. They're talking about the tendency of human emotions to swing from extreme greed to extreme fear and back again. Understanding that is more valuable than knowing how to read a candlestick chart.
Also, check out the "Talk Your Book" segments. It’s a great way to hear about new investment themes before they become mainstream news.
Actionable Steps for New Listeners
If you’re ready to dive into The Compound and Friends podcast, here is how to actually use the information to better your financial life:
- Start with the most recent episode. Finance moves fast. While the evergreen advice is great, the current market commentary is what you need right now.
- Follow the "Friends" on social media. The guests they bring on are almost always top-tier follows on X (Twitter) or LinkedIn. It helps you build a high-quality information feed.
- Pay attention to the reading list. Josh and Michael are voracious readers. The books they recommend—like Psychology of Money by Morgan Housel or Against the Gods by Peter Bernstein—are foundational for any investor.
- Don't overreact. The irony of listening to a weekly market show is that it can tempt you to trade more. Use the show to stay informed, but let it reinforce your long-term strategy rather than triggering short-term impulses.
- Join the community. Look at the comments on their YouTube channel or engage with the hosts. It’s one of the few places on the internet where the financial discourse is actually civil and productive.
Investing doesn't have to be a lonely or intimidating endeavor. With the right voices in your ear, it can actually be... fun. The Compound and Friends has proven that you can be serious about money without taking yourself too seriously. Turn it on, grab a drink, and realize that even when the markets are chaotic, you’ve got some of the best minds in the business keeping you company.