Josh Brown and Michael Batnick on Ritholtz, Authenticity, and Why Risk Finds a Way

What began as a funny observation from Boyar Value Group founder Mark Boyar — that Josh Brown and Michael Batnick are “the Howard Stern of financial podcasting” — turned out to be a pretty good way into the real story.

Josh and Michael built an audience by being candid, irreverent, and willing to say things much of traditional Wall Street would rather leave unsaid. But underneath the humor is a serious wealth-management business, a disciplined investment process, and a culture that has become a magnet for clients and talent.

In this wide-ranging episode, Jonathan Boyar sits down with Josh and Michael to discuss Ritholtz Wealth Management, their highly successful Compound and Friends podcast, the dangers of making stock picks public, how to build a financial brand today, Porterhouse, and why — in markets as in business — risk finds a way.

Key Topics Covered:

• Authenticity as a Competitive Advantage
• How Josh and Michael built trust by being candid, irreverent, self-aware, and willing to sound different from traditional Wall Street.
• The Real Business Behind Ritholtz
• Why Ritholtz is not simply a content platform attached to an RIA, but a serious wealth-management firm that also creates influential financial media.
• Building a Talent and Client Flywheel
• How Ritholtz’s audience has helped attract clients, advisors, employees, and like-minded people who already understand the firm’s culture.
• Why Wealth Management Became One of Wall Street’s Best Businesses
• Josh explains why the RIA model has become such a powerful business and how wealth management has reshaped financial media and Wall Street.
• Could Ritholtz Be Built Again Today?
• Josh and Michael discuss whether their content-driven model could be replicated now, and why LinkedIn, YouTube, and owning a niche matter more than ever.
• CNBC, Media, and Market Commentary
• How Josh prepares for CNBC and how Michael has helped sharpen that process.
• The Danger of Public Stock Picks
• Michael draws on lessons from his book Big Mistakes to explain why publicly discussing investments can make it harder to change your mind.
• Porterhouse and Rules-Based Investing
• Josh and Michael discuss Ritholtz’s new Porterhouse equity strategy and why systematic rules can help investors avoid emotional mistakes.
• Why Risk Finds a Way
• A discussion of market leadership, momentum, and the idea that new opportunities tend to emerge even after difficult periods.

The Boyar Value Group: Uncovering Investment Opportunities Since 1975

Founded in 1975, The Boyar Value Group has spent more than five decades seeking to uncover undervalued opportunities in the stock market.

Through Boyar Research, we provide in-depth, independent research focused on businesses we believe are misunderstood, underfollowed, or trading at a meaningful discount to intrinsic value.

Our investment management business applies that same research-driven discipline to manage portfolios for both institutions and individuals, utilizing our private equity approach to stock market investing.

To learn more about The Boyar Value Group, please visit www.boyarvaluegroup.com.

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