On this episode of What Are Your Thoughts, Michael Batnick, Chart Kid Matt and Sean Russo discuss the great market re-rating, why falling P/E ratios and record-high price-to-sales multiples can coexist, and whether booming corporate earnings signal a new era for U.S. stocks. We also look at why “invest in what you know” can be terrible advice, where the fraud is hiding in today’s markets, Apple’s latest head-scratcher, unlocking SpaceX for investors, Polymarket, Mark Walter, and more. Plus, Michael brings the mystery chart. This episode is sponsored by DBMF, the world’s largest managed futures ETF. Discover why DBMF’s liquid, uncorrelated, managed futures strategy could be what your Alts allocation is missing at: http://www.dbmf.com/WAYT New Tropical Bros collab: https://tropicalbros.com/collections/animal-spirits The 2026 Compound Audience Survey is out now, help us shape the future of the channel: https://www.surveymonkey.com/r/H8CW6M5 COMPOUND MERCH: https://idontshop.com/ Timestamps: ►00:00 - Intro ►03:40 - The Great Re-Rating ►14:42 - Don’t Invest in What You Know ►29:29 - Where is the Fraud? ►27:36 - Apple Did What? ►36:53 - SpaceX Unlocked ►42:33 - Mystery Chart instagram: https://instagram.com/thecompoundnews Twitter: https://twitter.com/thecompoundnews TikTok: https://www.tiktok.com/@thecompoundnews Linkedin: https://www.linkedin.com/company/the-compound-media/ Sign up for The Compound newsletter: https://www.thecompoundnews.com/subscribe Listen to our podcasts: TCAF: https://podcasts.thecompoundnews.com/show/TCAF/ Animal Spirits: https://podcasts.thecompoundnews.com/show/animalspirits/ Ask The Compound: https://podcasts.thecompoundnews.com/show/ATC/ Talking Wealth: https://podcasts.thecompoundnews.com/show/talking-wealth/ Investing involves the risk of loss. This podcast is for informational purposes only and should not be relied upon for investment decisions and is not a solicitation or recommendation to buy or sell any securities. Michael Batnick and Josh Brown 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. See additional disclosures: https://www.ritholtzwealth.com/podcast-youtube-disclosures. “Likes” or other comments are not intended to be endorsements of Ritholtz Wealth Management, or their employees and are not compensated. The Compound Media, Inc, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation with, Ritholtz Wealth Management or any of its employees. See disclaimers: https://www.ritholtzwealth.com/podcast-youtube-disclosures. The iMGP DBi Managed Futures Strategy ETF’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, it may be obtained by visiting http://www.imgp.com/. The Fund is distributed by ALPS Distributors, Inc. DBMF is the world’s largest managed futures ETF as of July 31, 2026 with $4.16 billion AUM. #StockMarket #Investing #Stocks #TheCompound #AI #finance #joshbrown #invest