Full Signal

Jay Hatfield is the CEO and chief investment officer at Infrastructure Capital Advisors, where he picks stocks and manages a suite of income-focused ETFs. He joins Phil Rosen on Full Signal to discuss his street-high 8,250 S&P 500 target, why he calls the Fed a fatally flawed institution, his highest-conviction stock picks, and his new covered-call strategy.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - New S&P 500 target4:39 - What would break the bull case5:36 - Core inflation falling8:31 - Why Fed officials want hikes11:36 - Kevin Warsh herding the cats16:06 - Catalysts to fix the Fed20:32 - Marvell23:20 - Private credit stock pick26:07 - Capex debate29:01 - Lockheed Martin30:43 - Covered-call fund33:37 - Beating the NASDAQ#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Andy Goldberg is the chief investment strategist at Nomura Asset Management International (https://nomuraassetmanagement.com/). He joins Phil Rosen on Full Signal to discuss the bull and bear case on the AI boom, whether hyperscaler debt and circular financing are red flags, the three sectors that benefit downstream from AI, and why he'd welcome a Fed rate hike.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - AI early innings4:23 - Forward valuations8:00 - Bearish narratives10:24 - Hyperscalers turn to debt12:38 - Owning the AI trade through debt14:08 - Nvidia and circular financing18:30 - Cyber risks and data center backlash20:59 - Healthcare24:57 - Industrials27:47 - Financials32:49 - Rates and the broadening trade38:13 - How higher rates cap valuations39:52 - Find Andy's work#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Eric Wallerstein is the chief macro strategist for Clocktower Group, and was previously an advisor to Stephen Miran at the Federal Reserve Board as well as at the White House Council of Economic Advisors. He joins Phil Rosen on Full Signal to discuss the central bank outlook, why he is bullish on the US economy, and three global trade ideas that Wall Street is ignoring right now.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Why the Fed shouldn't hike1:47 - Why markets expect a hike4:47 - Hawkish dissenters8:14 - Warsh and Fed credibility10:02 - Reforming the Fed's balance sheet14:02 - Reading the bond selloff18:24 - Tariffs as fiscal impulse20:46 - France and the debt divergence23:21 - Why AI capex is bullish US24:23 - Stocks if the Fed holds27:19 - Japanese banks30:07 - Mexico33:39 - Defense stocks35:41 - Follow Eric#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Jared Dillian is a Wall Street veteran, the editor of the The Daily Dirtnap, and the author of the new book "The Awesome Portfolio." He joins Phil Rosen on Full Signal to discuss why he's bullish on bonds right now, his version of a perfect portfolio, why he's bearish on the AI trade, and how gold and bitcoin fit into a modern portfolio.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Are we at the top?2:50 - Bullish on bonds6:10 - Treasury's bond buyback plan12:42 - The economy without AI15:29 - Parallels to the dot-com17:44 - Costco indicator20:21 - The Awesome Portfolio26:26 - Real estate27:56 - Gold30:41 - Cash32:17 - Performance in a crash38:00 - Where to find Jared#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Jack Raines is the author of "Young Money: A Field Guide to Wealth and Purpose in Your Twenties." He joins Phil Rosen on Full Signal to discuss why young people should spend more and invest less, the pull of sports betting and prediction markets on Gen Z, how he turned $6,000 into $400,000 trading SPACs, and why housing costs sit underneath most of this generation's anxiety.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - Invest less, spend more2:44 - Retirement vs. cheap thrills3:36 - Increase income, not savings5:49 - Can young people afford anything?8:33 - Sports betting11:30 - Prediction markets12:03 - Stage-specificity of life18:15 - Boring investing for Gen Z21:08 - Comparing yourself to outlier winners23:04 - Status games26:55 - Trading SPACs34:23 - Young Money

Bilal Little is a global ETF strategist at Direxion and the host of the ETF Central podcast for the New York Stock Exchange. He joins Phil Rosen on Full Signal to discuss why the market is mispricing the cost of capital, how leveraged and inverse ETFs are actually meant to be traded, and where he sees the most compelling opportunities right now.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - What the market is mispricing2:24 - Macro data vs AI4:41 - Jobs data6:05 - Shift to thematic investing8:30 - Income ETFs11:48 - Leverage15:19 - Risk appetite 17:28 - Building portfolios20:54 - Most compelling opportunities23:03 - Follow Bilal

Jay Jacobs is the US head of equity ETFs at BlackRock. He joins Phil Rosen on Full Signal to discuss the three layers of the AI trade, whether the data center buildout echoes the dot-com overbuild, the physical choke points that could throttle AI, and why healthcare may be the most overlooked way to own the theme.TIMESTAMPS:0:00 - Tech valuations declining2:00 - 3 layers of AI5:26 - Runway for the physical layer7:46 - Another dot-com overbuild?9:17 - Power constraint11:15 - Indium, an AI choke point14:52 -Risks in AI portfolios16:05 - Why thematic funds beat sectors19:25 - Defense stocks22:10 - Healthcare25:17 - Commodities26:25 - Robotics27:19 - Bitcoin at BlackRock30:58 - Highest-conviction themes32:57 - Why not financials?33:53 - Follow Jay

Jack Farley is the co-founder of Monetary Matters Network and he recently launched Farley Associated Research, an investment Substack with its own model portfolio. He joins Phil Rosen on Full Signal to discuss why the AI capex boom still has room to run, his highest-conviction semiconductor pick, the case for silver over gold, and the stocks he is shorting right now and his macro outlook through 2027.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - Bull market's 5th year?3:30 - Hyperscaler capex5:04 - Free cash flow concerns6:47 - AI pricing power9:43 - Semiconductor pricing power11:59 - Favorite sectors14:02 - Lam Research18:13 - Could China crash memory?20:37 - Short ideas22:09 - Silver bull case26:11 - Macro risks27:55 - Jack's model portfolio28:54 - Texas Pacific Land30:28 - Sulfur stock idea32:24 - Korean memory stocks34:57 - Shorting Meta35:52 - Follow Jack#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Ryan Detrick is the chief market strategist at Carson Group, where he helps manage more than $8 billion and has kept the firm overweight equities for over three years. He joins Phil Rosen for the 100th episode of Full Signal to discuss his S&P 500 outlook, why banks are breaking out, the sectors he likes best, and the bearish signals no one else is watching.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - S&P 500 outlook3:42 - Seasonality7:32 - Advance-decline line9:20 - Financials and banks11:54 - Cyclicals for the second half14:44 - Gold, bonds and managed futures16:25 - Industrials17:36 - Financials19:33 - Tech stocks21:48 - $1 trillion capex debate23:56 - Secular bull case24:47 - Europe and Japan27:03 - The bear case with the US dollar28:32 - Staples stocks falling31:43 - Fed outlook33:27 - 3 contrarian calls34:55 - Follow Ryan

Kenny Polcari is chief market strategist at SlateStone Wealth, an independent wealth advisor. He joins Phil Rosen on Full Signal to discuss why he thinks the AI cycle is still early, the risk of circular dealmaking, how the Iran conflict runs from oil to stock valuations, and the specific stocks he owns right now.This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Early innings of AI2:26 - Circular AI economy7:23 - $5 trillion ROI question8:22 - Iran, oil and inflation14:34 - What clients are worried about15:34 - September weakness17:59 - What would break the bull case18:52 - What pushes yields higher20:02 - Favorite sectors and names21:30 - Cybersecurity22:56 - JPMorgan26:10 - Microsoft28:55 - Verizon30:34 - ASML31:47 - NVDA33:28 - Follow Kenny#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Bob Elliott is the CEO and chief investment officer of Unlimited Funds, where he deploys hedge fund strategies into low-cost ETFs. He also authors the Nonconsensus Substack. He joins Phil Rosen on Full Signal to discuss why AI earnings expectations are detached from macro reality, the gap between $5 trillion of capex and $150 billion of AI revenue, how households are propping up corporate margins, and where he sees value beyond the AI trade.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS0:00 - Market as house of cards4:57 - Where is the AI productivity?6:26 - Wall Street's backwards math8:34 - $5 trillion capex10:54 - Why earnings still look strong13:31 - Circular deals15:32 - AI's real economy problem19:02 - Rotation out of tech21:03 - AI capex is 2% of GDP24:45 - Kalecki equation26:06 - Chip demand28:28 - Investing beyond AI31:59 - TIPS33:10 - Gold38:28 - Leverage40:16 - Unlimited's hedge fund ETFs#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Josh Schafer is an investment writer for Barron's, where he writes the Searching for Signals newsletter on Substack. He joins Phil Rosen on Full Signal to discuss the historic run in S&P 500 earnings revisions, Alphabet and Amazon going free cash flow negative, risks to Meta, and a handful of his favorite under-the-radar stock picks.Subscribe to Josh Schafer's investing newsletter: https://searchingforsignals.substack.com/Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Historic earnings3:33 - Expectations too high?6:20 - Alphabet and Amazon burning cash11:08 - Rotation into hyperscalers12:00 - Meta looks bearish15:11 - Picking software stocks17:00 - Cybersecurity17:59 - SpaceX supplier stock20:09 - AI publishing and licensing stock21:31 - Movie theater comeback stock26:56 - Searching for Signals#podcast #investing #markets #macro #stocks #bitcoin #fed

Steve Sosnick is the chief strategist at Interactive Brokers, where he has spent three decades since the firm's options market-making days. He joins Phil Rosen on Full Signal to discuss the liquidity drain lurking beneath record highs, whether the massive AI capex bet pays off, value stocks crushing growth, his favorite sectors right now, and what the VIX is signaling.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - New highs, new risks5:26 - Fundamentals vs. exuberance6:58 - Hyperscalers are back10:21 - Momentum, FOMO, and technicals13:10 - ROI on AI capex17:05 - AI ecosystem trade19:35 - Value vs. growth stocks24:06 - Healthcare and industrials27:57 - VIX isn't a fear gauge29:27 - Correlation and dispersion32:36 - Stock picker's market34:41 - Follow Steve#podcast #investing #markets #macro #stocks #bitcoin #fed

Lou Basenese is a veteran market strategist and the founder of The Big Skinny. He joins Phil Rosen on Full Signal to discuss Magnificent 7 free cash flow, why Amazon and Eli Lilly look compelling, under-the-radar biotech stock picks and a tactical trade on oil refiners.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Mag 7 free cash flow1:06 - Amazon fundamentals2:50 - Is Apple too expensive?4:33 - Biotech stock picks6:11 - Eli Lilly8:21 - Big Pharma's acquisition spree10:36 - Viking Therapeutics12:36 - GLP-1s go mainstream17:11 - Nvidia and Google18:06 - Coya Therapeutics20:17 - Refiner trade24:53 - Follow Lou[5:00 PM]#podcast #investing #tech #markets #macro #stocks #bitcoin #fed

Todd Sohn is the chief ETF strategist at Strategas Asset Management. He joins Phil Rosen to discuss the semiconductor bear market, his three favorite sectors in the market right now, the rise of leveraged products, and comparisons to dot-com bubble.Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Semi sell off1:21 - Nobody throwing in the towel3:01 - Is this time different?4:14 - Leveraged ETFs10:20 - Beta vs. volatility12:10 - Equal weight beating cap weight13:30 - Low volatility ETFs16:49 - Why diversification matters again18:22 - Where we are in AI cycle20:14 - Trump as a wildcard22:06 - What stops dip buying?24:11 - Healthcare26:19 - Energy29:02 - Financials33:19 - Small caps35:57 - Follow Todd#podcast #investing #markets #macro #stocks #bitcoin #tech #fed

Anthony Pompliano is the CEO of ProCap Financial, the public company behind the AI personal finance product CFO Silvia. He joins Phil Rosen on Full Signal to discuss the outlook for frontier AI models, Chinese open-source models, bitcoin as the pair trade to abundant intelligence, and running a company with a stock that's down 80%.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - AI fat model thesis2:34 - US vs. Chinese AI models5:24 - AI economics and costs7:17 - DeepSeek and the price war9:24 - Bitcoin as an AI play11:38 - Why AI is deflationary13:11 - Federal Reserve outlook14:36 - The impossible comeback20:02 - Specialized vs. general-purpose models22:27 - CFO Silvia#podcast #investing #markets #macro #stocks #bitcoin #fed

Michael Gayed is a veteran portfolio manager who runs funds including the Free Markets ETF (FMKT), and is the founder of The Lead-Lag Report. He joins Phil Rosen on Full Signal to discuss why policymakers may crash stocks to save bonds, the Japan carry trade, where the real AI bubble is, and why small caps hold the key to what comes next.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Crash stocks to save bonds4:34 - Japan carry trade7:02 - Oil, yen, and Japan risk12:05 - Fund positioning14:51 - AI driving unemployment17:29 - Capex and the AI bubble19:33 - Small caps 23:04 - Rate cut before hike23:52 - Lumber-to-gold ratio27:40 - Most credible bull case30:50 - Favorite sectors33:09 - Debunking Fear-Greed index35:59 - Semiconductor and memory trade37:16 - What we'll be wrong about38:49 - Eli Lilly and obesity drugs41:44 - Follow Michael#podcast #investing #markets #macro #stocks #bitcoin #fed

Sylvia Jablonski is the chief investment officer of Defiance ETFs. She joins Phil Rosen on Full Signal to discuss where capital is flowing in the AI trade, whether quantum computing is still too early to invest in, themes in defense investing, and how leveraged ETFs really work.Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Hottest sectors to buy3:13 - Where capital is leaving4:51 - AI bubble debate6:45 - Can earnings beat expectations?7:45 - The next AI trade11:08 - Too early for quantum?16:22 - Defense investing18:10 - Highest-conviction theme19:52 - When themes run their course21:17 - Leveraged ETFs29:30 - Popping the bubble debate31:17 - Follow Sylvia#podcast #investing #markets #macro #stocks #bitcoin #fed

Jay Woods is the chief market strategist for Freedom Capital Markets and a CNBC contributor who has spent three decades on the floor of the New York Stock Exchange. He joins Phil Rosen on Full Signal to discuss whether the S&P 500 hits 7,000 or 8,000 first, why price momentum is fading despite blowout earnings, his favorite stocks across biotech and regional banks, and how his strategy for picking winning investments.Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - The S&P 500's next leg0:58 - Great earnings, weak momentum6:22 - A bubble in expectations7:13 - Rotation to boring stocks8:36 - Retire the Mag 712:26 - One tech stock to buy14:23 - Three biotech stock picks17:16 - How to pick stocks19:29 - Top-down sector analysis21:20 - Regional bank ideas24:55 - Insurance stocks29:39 - Summer seasonality32:12 - Are charts just astrology?34:45 - Selling access to Trump's posts39:05 - Follow Jay's work#podcast #investing #markets #macro #stocks #bitcoin #fed

Jack Farley is a macro expert and the co-founder of the Monetary Matters Network. He joins Phil Rosen on Full Signal to discuss the semiconductor sell-off, the strongest bear case against AI, blowout bank earnings, the specific stocks he's buying right now, and how he'd allocate a $100,000 portfolio today.Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Semiconductor bear market1:19 - Leverage unwinding the rally2:32 - Crowded AI trade4:13 - Broadcom, Marvell6:36 - Intel skepticism8:07 - Michael Burry's bear case10:44 - AI's subsidized economics12:40 - Tokenmaxxing15:05 - AI economics18:17 - Rotating into software19:19 - IBM's worst day ever23:13 - Blowout bank earnings25:34 - Stablecoins outlook27:36 - Lam Research32:16 - Texas Pacific Land34:51 - S&P Global37:08 - Building a $100,000 portfolio44:34 - Follow Jack#podcast #investing #markets #macro #stocks #bitcoin #fed

Dr. Steve Hou is a veteran quantitative analyst and the head of research at Silicon Data. He joins Phil Rosen on Full Signal to discuss the economics driving the AI boom, compute markets, the pricing power across Nvidia, Anthropic and OpenAI, comparisons to dot-com, and specific stock picks for the next leg of the bull market.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Compute demand1:07 - Token expenditure index9:34 - Subsidized AI tokens11:10 - GPU rental rates15:02 - AI basic use cases17:26 - Who holds AI pricing power20:12 - Token economics and AI profits22:53 - Software stocks opportunity28:13 - Boring quality compounders33:08 - DeepSeek effect36:15 - Inside Silicon Data39:12 - Bubble or baby bubble?#podcast #investing #markets #macro #stocks #bitcoin #fed

Jessica Inskip is the director of research for StockBrokers.com and a leading financial commentator. She joins Phil Rosen on Full Signal to discuss the AI CapEx boom and earnings outlook, the interconnectivity theme reshaping financial markets, specific stocks she likes right now, trading options for income, and how she would build a new portfolio from scratch todaySubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Earnings expectations2:59 - CapEx as recession signal7:36 - Earnings vs. bubble fears8:24 - Big Tech getting cheaper9:40 - 2-year note warnings12:21 - Contrarian bull case14:33 - ROI on $1 trillion Capex16:41 - Interconnectivity theme20:09 - Robinhood, Circle, Coinbase, ICE24:12 - Options for income27:15 - Oracle, Palantir, Micron28:42 - Building a new portfolio32:21 - Liquidity blind spot37:06 - Follow Jess#podcast #investing #markets #macro #stocks #bitcoin #fed

Julia Hermann is a global market strategist at New York Life Investments, where she helps shape the firm's multi-asset market outlook. She joins Phil Rosen on Full Signal to discuss her contrarian view on the Fed, the memory stock sell-off, parallels between the AI buildout and the dot-com era, and why financials look undervalued right now.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Geopolitics noise and signal2:31 - Fed outlook4:34 - Rate cut odds6:11 - Memory stocks in bear market9:07 - Diversification and quality12:08 - The narrowing path for markets15:12 - US vs. world17:35 - Japan carry trade20:58 - Sell America23:58 - Dot-com parallels29:15 - Infrastructure boom framework34:30 - Bullish financials37:16 - What consensus gets wrong39:17 - Julia's research#podcast #investing #markets #macro #stocks #bitcoin #fed

Michael Green is the chief strategist and portfolio manager at Simplify Asset Management, and authors the Substack called "Yes I give a Fig." He joins Phil Rosen on Full Signal to discuss hidden risks of the AI boom, how passive investing is bidding up the AI bubble, why he's bullish on new technology but cautious on its impact for investors, and more.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - Caution on AI bull market2:57 - AI's real value5:38 - Nvidia's vendor financing7:47 - The China threat9:39 - Should investors sit out?11:29 - Passive investing risks13:17 - Are stocks actually cheap?15:57 - 1987 crash parallels19:17 - Are markets broken?24:08 - Passive flows and leverage26:10 - Can regulators step in?28:21 - Building a new portfolio today32:09 - Inflation vs. deflation36:35 - American economic opportunity42:32 - Mike's new book#podcast #investing #markets #macro #stocks #bitcoin #fed

Lou Basenese is a veteran market strategist and the founder of The Big Skinny. He joins Phil Rosen on Full Signal to discuss 3 under-the-radar stock picks, buying the dip on chip stocks, and his process for finding biotech and AI investment ideas.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Buying the dip on chips2:47 - The AI bear case4:43 - Trimming profits5:29 - Crowded trades6:30 - TeraWulf $WULF10:59 - Navan $NAVN12:57 - Gain Therapeutics $GANX15:19 - Biotech acquisition targets17:35 - How to find obscure stocks20:31 - Position sizing21:44 - Follow Lou#podcast #investing #markets #macro #stocks #bitcoin #fed

Anthony Scaramucci is the founder and managing partner of SkyBridge Capital, and he has invested across markets for four decades. He joins Phil Rosen on Full Signal to discuss the potential government stake in OpenAI, how big the AI bubble could get, bitcoin's 50% drawdown, and how he would build a $1 million portfolio from scratch.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Government stake in OpenAI2:46 - Anti-AI sentiment6:02 - Is AI a bubble?7:20 - Building a $1 million portfolio9:30 - "Sell America" trade11:52 - Trump's crypto profits14:00 - Bitcoin down 50%17:24 - The bear case for Bitcoin19:23 - Shifting high-conviction views21:36 - Admitting mistakes22:57 - Career advice for AI era

Lauren Cassidy, chief investment officer for Founder ETFs, has spent two decades managing portfolios across firms including Sanford Bernstein and JPMorgan. She joins Phil Rosen on Full Signal to discuss her highest-conviction stock picks, why she is all-in on founder-led public companies, and the software bull case within the AI trade.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Where are we in the cycle?2:23 - Long-term AI winners5:17 - CoreWeave6:34 - Rubrik8:44 - Samsara10:59 - Datadog12:42 - Selling Viking13:40 - Clear16:10 - Overweight software20:14 - Palantir24:37 - Oracle27:43 - Founder outperformance history30:23 - Follow Lauren#podcast #investing #markets #macro #stocks #bitcoin #fed

Josh Schafer is an investment writer at Barron's and the author of the "Searching for Signals" newsletter on Substack. He joins Phil Rosen on Full Signal to discuss the most important charts driving the market and a handful of specific, high-conviction stock picks he is most bullish on right now.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - The great rotation1:58 - Why rate hikes don't crush stocks4:52 - Mag 7 becomes Lag 77:10 - Memory costs7:41 - AI inflation and Apple11:04 - Apple's ecosystem moat14:43 - Okta17:55 - General Motors21:36 - Alphabet23:50 - YouTube, Waymo25:15 - Microsoft28:43 - Housing stocks33:06 - Follow JoshDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Darius Dale is the founder of 42 Macro, a leading investment research firm whose risk-management framework is followed by thousands of investors around the world. He joins Phil Rosen on Full Signal to discuss his KISS portfolio strategy, where we are in the AI market cycle, why Kevin Warsh may be a dove in hawk's clothing, the shift toward a multi-poar macro regime, and rotating out of the Magnificent 7.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - The KISS portfolio framework3:00 - Stocks, gold, and Bitcoin6:01 - Where we are in AI cycle7:45 - Crowded bullish positioning11:54 - Kevin Warsh and the Fed15:00 - Investing in new Fed regime17:49 - Iran conflict22:47 - Accelerating into multipolar world27:01 - Treasury market hot potato28:34 - Going global in equities30:58 - "Source of Funds" investing theme38:36 - What he could be wrong on42:42 - Follow DariusDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Gunjan Banerji is a leading financial reporter at The Wall Street Journal. She joins Phil Rosen on Full Signal to discuss AI versus dot-com bubble comparisons, what options market data is showing, using AI to manage a stock portfolio, and lessons about money and wealth drawn from interviewing billionaires.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Bubble or healthy correction?3:53 - Mega-cap IPOs6:27 - Frothiest corners of the market7:23 - How to read the options market8:37 - Speculation in markets10:01 - Retail as smart money13:00 - Gambling-obsessed investors15:14 - AI portfolio manager19:37 - Sell America trade22:15 - Lessons from billionaires28:08 - Follow GunjanDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Paisley Nardini is a portfolio manager and multi-asset strategist at Simplify Asset Management. She joins Phil Rosen on Full Signal to discuss whether the tech sell-off marks the end of the AI trade, how to build a resilient a portfolio around equities, the most important macro variables for investors, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Is the AI bubble popping?2:22 - Kevin Warsh wildcard4:48 - Portfolios for any cycle5:44 - Stock-bond correlation8:49 - Bonds stopped being a hedge11:45 - Do old valuation metrics still work?14:27 - Finding cheaper corners of the market17:23 - AI Hype Over Profits18:42 - When to take profits on AI trade22:15 - Hard assets23:29 - Gold, silver, copper25:27 - Commodities26:39 - Building a new $100K Portfolio30:00 - Bitcoin30:56 - What we'll be wrong about31:53 - Find Paisley's workDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Brian Belski is the CEO and chief investment officer at Humilis Investment Strategies, and he has managed money and guided stock-picking strategies for three decades. He joins Phil Rosen to discuss his highest-conviction stock picks, earnings momentum, his strategy for picking small- and mid-cap stocks, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Near-term catalysts2:44 - Earnings-driven vs. multiple expansion3:37 - The 2023 tech rebound5:08 - Peak earnings?6:11 - What investors get wrong8:39 - Market breadth11:07 - Overweight utilities14:53 - Dot-com comparisons19:52 - A stock picker's market22:14 - Small-cap bull case27:32 - Acuity29:03 - FNB31:24 - Casella Waste Systems33:40 - How to pick stocks39:03 -Humilis' new ETFDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Veteran investor Thomas Hayes is the founder of Great Hill Capital, a long-short equity money manager. He joins Phil Rosen on Full Signal to unpack his strategy for picking unpopular stocks with high upside, the rotation out of the AI trade, fading the Magnificent 7, and the specific stocks he is highest-conviction on right now.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Iran peace deal setup2:29 - Non-AI stocks to rally5:48 - Hyperscaler capex problem7:40 - Not bullish on Mag 78:47 - Micron's trap9:29 - AI demand is fifth inning11:53 - Price chasing vs. value14:56 - Staples most hated in decades18:17 - Top signal for AI?19:00 - PayPal bull case28:07 - Etsy bull case31:44 - Does AI shopping threaten Etsy?33:03 - How to pick stocks35:42 - The VF Corp turnaround42:44 - Contrarian beliefs46:15 - Follow TomDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Jordi Visser is a leading AI and macro investor and Wall Street veteran. He joins Phil Rosen on Full Signal to discuss moving off the Magnificent 7, the next leg of the AI trade, buying into bottlenecks, benchmark arbitrage, and his bull thesis for specific stocks.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Your capex is my opportunity3:06 - Entering the Physical AI Stage5:12 - 5-Layer AI Economy7:06 - Fading the Mag 78:52 - Benchmark Arbitrage11:37 - Signal, Alpha, Agency16:22 - The bubble argument that holds17:43 - Selling Micron22:49 - Are bottleneck trades obvious?24:19 - Parabolic asset prices25:46 - Earnings risk26:10 - Price vs. fundamentals rotation28:32 - Risks to memory trade30:44 - Silver bull thesis31:43 - Marvell34:20 - Eli Lilly37:39 - Government Stake in AI42:52 - Leaving Wall Street47:39 - Career advice for the AI era50:45 - Follow JordiDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Ben Emons is the founder and chief investment officer at FedWatch Advisors. He joins Phil Rosen on Full Signal to discuss stocks he's bullish on for the end of the Iran conflict, the parabolic AI trade, why he likes financial stocks, and the Fed's dilemma.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Iran peace deal rally2:16 - The real bear case2:53 - Kevin Warsh is hawkish4:07 - Rate cuts vs. balance sheet6:34 - New Fed regime10:06 - Fertilizer shortage12:07 - Parabolic 716:13 - When to sell winners18:05 - Still bullish on Mag 7?21:05 - Financial stocks25:36 - Midterms blue sweep28:53 - Political volatility29:40 - Follow BenDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Kai Wu is the founder and CIO of Sparkline Capital. He joins Phil Rosen on Full Signal to discuss why AI is breaking traditional value investing, how classic market metrics have become outdated, picking stocks in the AI trade, and which software stocks will win and lose next.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - AI disruption framework1:07 - Code isn't a moat1:47 - Intangible value3:21 - Value metrics are outdated4:53 - Netflix vs. Blockbuster7:43 - 200 years of patent data12:48 - Building an AI-era portfolio15:09 - Is intangible value already priced in?16:42 - Fake AI companies21:47 - Software winners27:57 - Startups vs. incumbents30:38 - 78% of market exposed34:43 - Are index investors safe?40:28 - What we'll be wrong aboutDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Liz Ann Sonders is the chief investment strategist at Charles Schwab, where she shapes the firm's market and economic outlook for millions of investors. A widely cited voice on Wall Street for decades, she joins Phil Rosen on Full Signal to discuss the AI earnings boom, the inflation-vs-deflation debate, bubble signals, and why AI supply constraints could matter more than demand.TIMESTAMPS:0:00 - AI circular financing2:36 - Tech stocks getting cheaper4:21 - Inflation changing valuations5:02 - Iran and rising inflation7:12 - AI both inflationary & deflationary7:44 - Expectations bubble11:57 - Market leadership14:43 - Compute and energy19:05 - AI and labor market23:13 - What makes a bubble?25:46 - Complacency and gambling31:36 - Sentiment vs. hard data38:44 - How we'll be wrong on AI

James Seyffart is a senior research analyst with Bloomberg Intelligence. He joins Phil Rosen on Full Signal to unpack the SpaceX IPO and the secret index committee that decided its fate, prediction markets and gambling filtering into the stock market, bitcoin's bear market, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Why SpaceX skips S&P 5003:28 - Inside the index committee5:05 - Unpacking the SpaceX IPO11:03 - Top-heavy index problem13:13 - Could SpaceX drain liquidity?17:22 - Retail enthusiasm for SpaceX18:39 - Leveraged single-stock ETF frenzy23:16 - Prediction market ETFs28:35 - Bitcoin bear market31:20 - Bitcoin basis trade36:38 - What investors get wrongDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Eric Wallerstein is the chief macro strategist for Clocktower Group, and was previously an advisor to Stephen Miran at the Federal Reserve Board as well as at the White House Council of Economic Advisors. He joins Phil Rosen on Full Signal to discuss how to trade against the current macro backdrop, betting on US exceptionalism and fading Europe, and being right early on the the Iran conflict.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Kevin Warsh's Fed regime1:08 - Where rates go from here3:46 - US dollar bull case5:04 - The US banks trade8:19 - NATO breakup thesis12:01 - Steelman case for Europe13:28 - Poland, Norway, Sweden trade15:52 - The 2 Europes trade20:50 - US exceptionalism and Iran31:56 - Working with Fed Governor MiranDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Sonali Basak is the chief investment strategist at iCapital. She joined Phil Rosen on Full Signal to discuss the leading indicators in private markets for stocks, the AI infrastructure buildout, red flags for investors, and the historic IPO boom led by SpaceX.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Private markets' hidden signal2:27 - AI up, software down3:33 - Software loan squeeze6:32 - SpaceX, OpenAI, Anthropic9:12 - Snowflake vs Databricks15:13 - Hyperscaler cash flows18:13 - Everyone is overweight AI21:52 - Financials look cheap29:35 - Highest-conviction callDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Lou Basenese is a veteran market strategist and the founder of The Big Skinny. He joins Phil Rosen on Full Signal to discuss the SpaceX IPO, Tesla, small-cap biotech stocks, and under the radar stock picks.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - SpaceX IPO Hype0:53 - Valuation And Merger Talk3:08 - Space Stocks Hype Cycle4:06 - Finding Space Suppliers5:18 - AI Transforms Biotech7:31 - Best Biotech Exposure9:14 - GLP 1 Long Term Risks12:24 - Small Cap Biotech Picks14:50 - Energy Refiners Trade17:25 - Teradyne AI Pick19:13 - Barbell Investing Wrap19:56 - Where To Follow LouDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Gina Martin Adams is the chief market strategist for HB Wealth. She joins Phil Rosen on Full Signal to discuss the under-appreciated risks of the $1 trillion AI capex and infrastructure buildout, stocks and bonds de-coupling, the winning and losing sectors, hidden inflation headwinds, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Stock-Bond Correlation breaking1:59 - Turning cautious on stocks4:51 - Semiconductor bubble?6:52 - Nvidia earnings9:17 - Hyperscaler spending driving inflation12:48 - AI productivity vs. inflation15:29 - How the Fed solves inflation17:12 - Mag 7 free cash flow falling20:42 - Mag 7 breaking apart22:56 - New market leadership24:49 - IPOs risk entire bull market28:32 - Investing vs. gambling30:43 - Wrong calls and finding valueDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Lyft CEO David Risher joins Phil Rosen on Full Signal to unpack why Lyft stock has underperformed, competing with Uber, whether he would entertain an acquisition from Google or Tesla, how autonomous vehicles impact Lyft's business, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Intro0:46 - Lyft stock is down 32%1:47 - Wall Street mispricing the stock2:52 - Self-driving cars4:23 - Fleet management edge8:09 - Does Tesla break Lyft's moat?9:36 - 50 million riders and distribution12:44 - Partnership playbook15:15 - Owning a car vs. Lyft17:04 - Taking Lyft private18:28 - Acquisition by Tesla or Google?22:16 - Will AI replace all drivers?26:28 - Why CEO still drives Lyft rides28:38 - Strategic regrets as CEO34:59 - Leaving a legacy at LyftDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Gabriela Santos is the chief market strategist for the Americas with JPMorgan Asset Management. She joins Phil Rosen on Full Signal to discuss the outperformance of international stocks, why Taiwan and Korea are outperforming in the AI era, the diversification problem inside the AI trade, European banks and defense sectors, and US exceptionalism.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - US exceptionalism2:46 - AI's global winners4:04 - 2000-2007 parallel7:15 - Korea's governance shift9:00 - AI's diversification problem12:34 - When AI tops out16:23 - Historic semis rally19:47 - Is AI a bubble?21:48 - What JPMorgan got wrong24:20 - European bank stocks27:00 - Follow Gabriela's workDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Kevin Gordon is the Head of Macro Research and Strategy for the Schwab Center for Financial Research. He joins Phil Rosen on Full Signal to discuss the top-heavy stock market, record-breaking earnings, the 1998-like chip boom, and the discrepancies between hard and soft data.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Top-heavy stock market2:19 - 1973 breadth levels5:00 - Tech concentration7:22 - Mag 7 vs S&P 493 convergence trade9:38 - AI productivity and the missing hiring boom13:46 - Valuations are bad for market timing17:02 - Dot-com comparisons21:05 - Penalty for missing earnings25:27 - Semis rally like 199828:00 - Hard data vs soft dataDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Anthony Pompliano is the CEO of ProCap Financial. He joins Phil Rosen on Full Signal to discuss the economic data behind the Iran conflict, how bitcoin fits into the current macro story, and why the "AI bubble" crowd is dead wrong.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Affordability decides midterms3:00 - Iran war driving inflation4:33 - Short conflict vs. structural inflation7:08 - Bitcoin is the "certainty" asset9:31 - AI demand wall11:13 - Scarcity in an AI world13:36 - Pomp vs. AI bears17:01 - Doomer predictions18:46 - Micron and market frothDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Ben Carlson is the director of institutional asset management at Ritholtz Wealth Management, and the author of the new book, "Risk & Reward." He joins Phil Rosen to discuss the historic bull market, semiconductor rally and meltup, dot-com comparisons, lessons from Japan's asset bubble, and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Why Markets Ignore Headlines1:14 - Momentum and the AI Trade2:12 - Bull Market Tracker Insights3:38 - Semis Rally and Air Pockets5:53 - Nasdaq Melt Up Comparisons8:01 - Dot-Com Then vs Now9:10 - Investor Sentiment and Flows11:20 - Leveraged ETFs and Bubble Talk13:50 - What Would Turn Bears On15:56 - New Inflation Regime Reality16:40 - Ben's New Book "Risk and Reward"19:02-  Japan Bubble Lessons Diversify23:17 - Investor Identity Time Horizon25:23 - Ben's Writing Process & Where to FollowDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Todd Sohn is the chief ETF strategist at Strategas. He joins Phil Rosen on Full Signal to discuss the boom in semiconductor stocks, falling defensive sectors, the ETFs he likes best right now, how to hedge the froth of the AI trade, and the most important charts in markets today.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Intro0:20 - Record ETF Inflows2:36 - Crashing defensive sectors5:01 - Energy vs. Tech beta9:14 - Industrials & infrastructure12:36 - Semiconductor ETFs16:17 - Levered Single-Stock ETFs20:50 - DRAM to $5 Billion23:33 - SpaceX and Space ETFs27:53 - Hedge beta, buy Japan31:43 - Turning cautiousDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

Josh Schafer is an investment writer at Barron's. He joins Phil Rosen on Full Signal to discuss the charts driving the macro outlook, and four specific stocks that his team is bullish on right now.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/TIMESTAMPS:0:00 - Intro0:20 - Earnings paradox2:52 - Estimate revisions accelerate4:38 - AI capex hits $1 trillion7:10 - AI is the new macro8:37 - Intel12:24 - Sterling Infrastructure14:48 - Palo Alto Networks16:56 - Casey's General Stores20:23 - 2026 market outlook23:00 - Where To Find Josh OnlineDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed

David Dziekanski is the CEO of Quantify Funds. He joins Phil Rosen to discuss what's keeping bitcoin suppressed, the impact of Japan's bond market on asset prices, the new normal of the debasement trade and more.This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Intro0:30 Why bitcoin crashed3:13 Trump Disconnect4:37 Advisors owning bitcoin6:58 Gold's outperformance9:00 Oil and gold's pullback11:25 Debasement as new normal15:20 Bear case for bitcoin, gold18:18 Kevin Warsh20:42 BTGD, ISBG, ISSB25:31 Quantify FundsDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed