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193. Nothing Works All the Time episode artwork

Feb 18, 2026 46 min

193. Nothing Works All the Time

from Investing Unscripted Hosted by Jason Hall and Jeff Santoro

We discuss the recent market dislocation where SaaS stocks are crashing while the broader market hits all-time highs. We break down the three main fears driving the sell-off and debate which companies—like Adobe and Salesforce—are actually at risk. Finally, we share how we are handling the volatility, with Jeff buying more Shopify and Jason using a "barbell strategy" to stay sane. 02:27 Housekeeping 03:53 Episode Setup 06:37 Three AI Threats to SaaS: 09:23 Is AI Really Different? 12:59 Stock Spotlight: Adobe 18:35 The Real Issue: Moats, Stickiness, Switching Costs, and Resetting SaaS Multiples 23:18 LLMs Aren’t Free 23:49 Why SaaS Stocks Are Selling Off 25:11 Shopify vs. Toast 27:06 Disruption Timelines & Valuation Reratings 29:19 Earnings Season as the Reality Check 31:53 Tactical Moves: Selling Puts for Margin of Safety 33:02 Barbell Portfolio Strategy: Growth on One Side, Dividends on the Other Companies mentioned: ABNB, ADBE, ASAN, CRM, CRWD, ENPH, EPR, MNDY, MSFT, NOW, O, PYPL, SHOP, SQ, TEAM, TOST, TTD Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com ***************************************** To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube ***************************************** Join our PatreonSubscribe to our portfolio on Savvy Trader

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193. Nothing Works All the Time

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How long is this episode of Investing Unscripted?

This episode is 46 minutes long.

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This episode was published on February 18, 2026.

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