Kai Wu is the founder and chief investment officer of Sparkline Capital, an investment management firm that invests in innovation and value. He joined Phil Rosen to discuss the Magnificent 7 moving from asset-light to asset-heavy businesses, risks of the AI capex boom, circular financing, and how to invest in new technological revolutions.
This episode is sponsored by Public: https://public.com/openingbell
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Timestamps:
0:00 - Intro
0:30 -
Disclosure: 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
Steve Hou is a quantitative researcher at Bloomberg covering multi-asset strategy research and holds a PhD in financial economics. He joined Phil Rosen to discuss the impact of AI on the stock market and labor market, the K-shaped divergence between knowledge workers and everyone else, the new stock index he’s developing at Bloomberg, and more.
This episode is sponsored by Public: https://public.com/openingbell
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Timestamps:
0:00 - Intro
0:30 Government debt, macro outlook
3:43 - New economic regime
8:41 - K-Shaped economy
11:56 - Public & Generated Assets
13:04 - Tech-heavy economy
15:51 - AI impact on labor market
18:13 - New economy jobs
20:17 - A new investing strategy
31:08 - Index rebalancing
Disclosure: 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
Nancy Tengler is the CEO and CIO of Laffer Tengler Investments. She’s spent four decades on Wall Street, and has been a top-1% portfolio manager for the last 11 years. She joined Phil Rosen to discuss her highest conviction stock picks for 2026, dot-com bubble comparisons, risks in the AI economy, and how she’s thinking about the tech trade right now.
This episode is sponsored by Public: https://public.com/openingbell
Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe
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0:00 - Intro
0:25 - Bullish on stocks
2:20 - Earnings driving stocks
4:30 - AI bubble debate
7:30 - Circular financing and OpenAI
9:00 - AI and job market
10:30 - Walmart
12:15 - AMD
14:00 - Public & Generated Assets
15:20 - DR Horton
17:25 - Quanta Services
18:55 - How to value AI stocks
21:45 - Tesla
26:00 - Crowdstrike
28:55 - Nancy’s ETF strategy
30:20 - ServiceNow
Disclosure: 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 Balchunas is a senior ETF analyst at Bloomberg Intelligence. He joined Phil Rosen on Full Signal to discuss the record year for ETFs, the rise of crypto and leveraged products, how bitcoin is taking over traditional finance, and the debate around passive investingThis 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 - Historic ETF boom3:32 - More ETFs than stocks7:00 - Leverage risks10:15 - Public & Generated Assets11:25 - New SEC and regulation16:37 - Bitcoin on Wall Street21:57 - Vanguard approves crypto ETFs24:44 - Magnificent 7 concentration31:20 - Mike Green’s passive investing views38:23 - Demographic risks of passive investingDisclosure: 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
Stephanie Roth is the chief economist at Wolfe Research, and was previously an economist at JPMorgan. She joined Phil Rosen on Full Signal to discuss how AI is changing jobs and the labor market, whether AI is driving productivity gains, Big Tech’s capex plans, its impact on young people finding jobs, comparisons to dot-com, and what investors are missing today.
This episode is sponsored by Public: https://public.com/openingbell
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0:00 - Intro
0:30 - Labor market outlook
2:50 - AI and layoffs
3:57 - AI driving new jobs, productivity
6:30 - Broad AI adoption in economy
7:15 - Youth unemployment
11:00 - Public & Generated Assets
12:07 - AI capex and GDP
15:30 - Economic vs. asset price bubble
16:55 - AI isn’t dot-com bubble
17:50 - What investors misunderstand on AI
19:16 - K-shaped economy
22:55 - Consumer spending
25:55 - Inflation and tariffs
26:55 - Affordability and consumer sentiment
28:00 - Bias of sentiment surveys
30:30 - New Fed Chair, Fed independence
33:55 - White House policy
36:48 - What economists got wrong on tariffs
Disclosure: 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
Jay Woods is the chief market strategist at Freedom Capital Markets and he’s worked on the floor of the New York Stock Exchange for three decades as a trader and market maker. He joined Phil Rosen on Full Signal to break down the AI trade, sectors to bet on for 2026, macro risks, the Federal Reserve, and the disconnect between asset prices and the real economy.
This episode is sponsored by Public: https://public.com/openingbell
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TIMESTAMPS:
0:00 - Intro
0:30 - AI trade and rotation
6:19 - Magnificent 7 turned Lag 7
8:25 - Dot-com bubble parallels
12:09 - Public & Generated Assets
13:37 - Sentiment impact on prices
14:14 - Opportunities outside tech
18:14 - Macro outlook and risks
21:21 - Unstoppable bull run
23:23 - Trading through tariffs
25:30 - Federal Reserve outlook
30:52 - Inflation and consumer spending
33:01 - Stocks are not the economy
35:43 - Sectors for 2026
40:00 - Hard to be bearish
Disclosure: 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 #federalreserve
Eric Jackson is the founder of EMJ Capital and specializes in finding "100 bagger" stocks. He's spearheaded the retail investor-driven movement behind companies like OpenDoor and Carvana. He joined Phil Rosen to discuss where he's deploying capital in public markets today, his thesis for bitcoin hitting $50 million by 2041, the AI revolution, and the stocks he likes best right now.
This episode is sponsored by Public: https://public.com/openingbell
Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe
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TIMESTAMPS:
0:00 - Intro
Disclosure: 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
Katie Stockton is the founder of Fairlead Strategies and the leading technical strategist on Wall Street. She joined Phil Rosen on Full Signal to discuss bearish near-term indicators, the AI trade and comparisons to the dot-com bubble, S&P 500 sector rotations, bitcoin’s correction, and what technical indicators say about stocks. Katie also manages the Fairlead Tactical Sector ETF (TACK), which has $275 million AUM.
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TIMESTAMPS:
0:00 - Intro
0:25 - Bearish near-term signal
3:20 - Technical indicators
4:27 - Sector rotations
5:77 - Opportunity in healthcare
7:22 - Tech-heavy market
9:15 - Dot-com comparisons
11:43 - MACD Indicator
16:50 - Seasonality trends
19:00 - Nvidia and AI trade
21:25 - Retail buying the dip
23:00 - Bitcoin correction
26:00 - Fairlead’s TACK ETF
31:50 - Follow Katie
#podcast #investing #markets #macro #stocks #bitcoin #fed
Dan Ives is the leading analyst in the world for technology stocks and he manages the IVES Wedbush AI Revolution ETF. He joined Phil Rosen to discuss the demand story driving AI, what Wall Street doesn't understand, visits to chip factories in Asia, specific stock picks he likes now, and why the bears are so wrong on tech.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 - Intro0:25 - 1996 moment for AI
1:34 - Chip factories in Asia
3:15 - Warning to bears
5:11 - Picking AI stocks
7:16 - It's still early for AI
9:25 - Palantir
11:45 - Circular financing and risks
14:48 - Dot-com parallels
17:55 - Google
20:23 - Building views on stocks
23:37 - Dan's highest conviction picks
24:30 - Microsoft and OpenAI
27:18 - Eightco and Worldcoin
#podcast #investing #markets #macro #stocks #bitcoin #fed
Douglas Boneparth is the President of Bone Fide Wealth and one of the most influential financial advisors in the country. He joined Phil Rosen to discuss the AI trade, the latest tech sell-off, mining bitcoin in 2013, and his new book, "Money Together."
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Watch on YouTube: https://youtu.be/MV-Y4JStuKY
TIMESTAMPS:
0:00 - Intro
0:32 - Falling tech stocks
2:10 - Is the bubble popping?
4:40 - AI-fueled productivity
6:34 - AI circular financing
8:29 - Outdated valuation metrics
10:34 - Hidden risks in the market
13:29 - Clients navigating volatility
17:12 - Boring investments
20:36 - Bitcoin mining in 2013
25:19 - Bitcoin allocations
26:49 - New book, "Money Together"
33:12 - Follow Doug online
#podcast #investing #markets #macro #stocks #bitcoin #fed
Sam Ro is a veteran financial writer and analyst who writes TKer, an award-winning newsletter about the stock market. He joined Phil Rosen to discuss the K-shaped economy, stock valuations, dot-com comparisons, mismatched sentiment and more.
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TIMESTAMPS:
0:00 - Intro
0:27 - K-shape economy
3:21 - Investors vs. non-investors
5:36 - Wealth effect and sentiment
9:40 - Investors aren't complaining
10:45 - Consumers keep spending
14:23 - AI vs. dot-com bubble
20:52 - Valuations at dot-com levels
26:03 - AI earnings dominance
#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 acceleration of the AI trade, risks in Big Tech's spending ambitions, the K-shaped economy, opportunities in private markets and more.
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TIMESTAMPS:
0:00 - Intro
0:23 - Rethinking AI trade
2:32 - Leverage and debt in AI boom
6:17 - Michael Burry, market sentiment
8:22 - Dot-com vs. AI comparisons
11:11 - Rotation out of tech?
13:47 - Hidden opportunities in market
15:29 - Private markets
18:20 - AI is still early
19:34 - AI impact on K-Shape economy
22:43 - Uncertainty in jobs
24:30 - Geopolitics in AI race
26:38 - Under-appreciated risks
#podcast #investing #markets #macro #stocks #bitcoin #fed
Kevin Gordon is the head of macro research and strategy at Charles Schwab's Center for Financial Research. He joined Phil Rosen on Full Signal to discuss the top-heavy bull market, comparisons to the dot-com bubble, the K-shaped economy, signals from alternative economic data, and more.
Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/
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Watch on YouTube: https://youtu.be/vxdPVSIo_HE
TIMESTAMPS:
0:00 - Intro
0:27 - Concentration in stock market
3:33 - Top-heavy market as 'new normal'
5:40 - AI vs. dot-com bubble
9:43 - AI driving layoffs
13:46 - White-collar recession
17:12 - How Kevin uses AI at Schwab
18:32 - Alternative job market data
21:24 - Labor market cycles
23:27 - Economists have been wrong all year
26:08 - Vibecession vs. vibepression
29:00 - K-shaped economy
33:36 - Fed rate cuts
36:13 - Where stocks go in 2026
#podcast #investing #markets #macro #stocks #bitcoin #fed
Todd Sohn is an ETF strategist across the research and asset management teams at Strategas, and he's previously held roles at JPMorgan and SAC Capital Advisors. He joined Phil Rosen on Full Signal to discuss the outlook for stocks, AI vs. dot-com, how investors are seeking more leverage, the historic year for ETF inflows and more.
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#podcast #investing #markets #macro #stocks #bitcoin #fed
Ryan Detrick is the chief market strategist at Carson Group. In this episode of Full Signal, we discuss his highly optimistic outlook on stocks, the resilience of the market despite recession signals, the "most hated bull market," the Federal Reserve, AI versus dot-com bubble, the K-shaped economy, gold, and forecasts into next year.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/Follow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps: 0:00 - Intro0:30 - Why Ryan's optimistic on stocks3:24 - The bull market is in every country7:00 - Why it's the "most hated bull market"13:36- AI boom vs. dot-com era18:38 - Current sentiment & consumer behavior19:08 - Breaking records in asset prices19:21 - Wealth disparity and K-Shaped economy20:13 - Household and corporate balance sheets20:46 - Leverage and market rotation23:58 - AI impacting job market26:33 - Fed rate cuts31:35 - Political gridlock in Washington
Mike Green, chief strategist of the $11 billion firm Simplify Asset Management, joins Phil Rosen for the first episode of Full Signal. We discuss the biggest risks in today’s market, how passive investing is fueling an "everything bubble" and driving asset prices above their fair value, hidden economic issues, why Bitcoin isn't what you think it is, and the parallels between the AI boom and dot-com bubble.
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0:00 - Intro
0:27 - The biggest risks in markets
1:17 - Passive investing is inflating asset prices
3:34 - What's the tipping point to the passive investing bubble?
8:50 - Rising earnings are masking weakness
13:30 - AI vs. the dot-com bubble
15:03 - The role of 401(k)s in the "everything bubble"
25:46 - Bitcoin criticisms
30:35 - Conclusion
#podcast #investing #markets #macro #stocks #bitcoin #fed
Full Signal is a new markets show hosted by Phil Rosen, co-founder of Opening Bell Daily. Full Signal will feature in-depth interviews with leading investors, Wall Street strategists and executives, along with original data, commentary and Opening Bell Daily’s signature data visualizations.