Jeremy Siegel, a longtime professor of finance at the University of Pennsylvania’s Wharton School and author of “Stocks for the Long Run,” joined the latest episode of the “What Goes Up” podcast alongside Jeremy Schwartz, global chief investment officer at WisdomTree, to discuss the state of the economy, inflation and markets. Siegel also threw in some advice for retail traders caught up in the meme-stock craze.

“I always recommend to young people, if you want to play with 10% or 15% of your portfolio in those games, fine. But, you know, put the other 85 into some sort of a long-term index fund that will have meaning for you when you finally become an adult,” he said. “Do not make that a big portion of your portfolio unless you have unbelievably excess money and you can afford to lose 80% of it.”