Full Signal

Adam Parker is the founder of Trivariate Research and Trivector Research, and he was formerly the Chief US Equity Strategist and Director of Global Quantitative Research at Morgan Stanley. He joins Phil Rosen on Full Signal to unpack his favorite stocks and sectors for 2027, why he's still optimistic on semiconductors and memory, the thesis for healthcare, and more. Today's episode is sponsored by Direxion: https://www.direxion.com/product/daily-tsla-bull-and-bear-leveraged-single-stock-etfs Full Signal is available on Apple Podcasts and Spotify 3 hours before YouTube: 🍎 Apple: https://podcasts.apple.com/us/podcast/full-signal/id1850620905 📢 Spotify: https://open.spotify.com/show/2CX5KAB0jdOTBNPVJOHN6D 📨 Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/phil-rosen-763601187/ 💸 Sign up for Silvia, your personal AI CFO that helps you manage your finances: https://silvia.com/?utm_source=opening_bell&utm_medium=partner&utm_campaign=phil_rosen TIMESTAMPS: 0:00 - AI cycle 1/3 done 3:28 - Micron 8:44 - Weakest part of AI trade 12:23 - Run more diversified 18:57 - Buy and hold is broken 22:10 - Expensive stocks and earnings 26:13 - Don't add to losers 29:42 - Healthcare 35:15 - Eli Lilly and GLP-1 38:22 - Semis, power and healthcare 40:30 - Oil stocks and AI power 41:39 - Post-midterm AI rally 42:59 - 2030s industrial revolution #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Eddie Ghabour is the co-founder and CEO of Key Advisors Wealth Management. He joins Phil Rosen on Full Signal to discuss his highest-conviction investment ideas for 2027, the Fed's policy error, the undervalued sectors Wall Street is ignoring, and the details of his tactical investing approach versus the typical buy-and-hold strategy. This episode is sponsored by Bloomberg: http://bloomberg.com/equityindices Full Signal is available on Apple Podcasts and Spotify 3 hours before YouTube: 🍎 Apple: https://podcasts.apple.com/us/podcast/full-signal/id1850620905 📢 Spotify: https://open.spotify.com/show/2CX5KAB0jdOTBNPVJOHN6D 📨 Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/phil-rosen-763601187/ 💸 Sign up for Silvia, your personal AI CFO that helps you manage your finances: https://silvia.com/?utm_source=opening_bell&utm_medium=partner&utm_campaign=phil_rosen TIMESTAMPS: 0:00 - Rising rates 2:29 - AI capex and inflation 3:29 - Bond market leads 6:32 - Debt-financed AI risks 10:05 - Positioning in tech 13:38 - Cybersecurity 16:38 - Healthcare 19:14 - Consumer staples 19:54 - Contrarian housing call 23:31 - Utilities 26:05 - Tactical vs. buy-and-hold 30:37 - Gold 32:24 - Bitcoin 33:41 - Follow Eddie #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Alexandra Wilson-Elizondo is the global head and co-chief investment officer of Multi-Asset Solutions at Goldman Sachs Asset Management. She joins Phil Rosen on Full Signal to discuss the next stage of the AI trade, debt financing in the AI buildout, whether today's AI boom resembles the dot-com bubble, opportunities in international markets, and what could outperform in 2027. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ 📨 Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/phil-rosen-763601187/ 💸 Sign up for Silvia, your personal AI CFO that helps you manage your finances: https://silvia.com/?utm_source=opening_bell&utm_medium=partner&utm_campaign=phil_rosen TIMESTAMPS: 0:00 - 4th stage of AI trade 3:51 - Is AI a bubble? 5:47 - GPU obsolescence risk 9:23 - Credit warning signs 10:34 - Best hedge against AI? 11:32 - Pharma and utilities 16:30 - European financials 18:15 - Emerging markets 20:54 - Japan 24:37 - Longevity trade 29:31 - Back to fundamentals 31:10 - Goldman Sachs #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Stephanie Aliaga is a global market strategist at JP Morgan Asset Management, where she focuses on AI's role in markets and the economy. She joins Phil Rosen on Full Signal to discuss why the AI cycle is still early, the selloff in neocloud stocks, hyperscaler moats and frontier lab economics, why AI isn't showing up in productivity data yet, and her favorite opportunities for the AI trade for the year ahead. Today's episode is sponsored by Direxion: https://www.direxion.com/product/daily-tsla-bull-and-bear-leveraged-single-stock-etfs 📨 Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/phil-rosen-763601187/ 💸 Sign up for Silvia, your personal AI CFO that helps you manage your finances: https://silvia.com/?utm_source=opening_bell&utm_medium=partner&utm_campaign=phil_rosen TIMESTAMPS: 0:00 - We're still early in AI 2:43 - Neocloud financing fears 4:46 - Demand vs. financing 7:10 - Hyperscaler balance sheets 10:46 - Frontier lab token economics 15:06 - AI agents boom 17:05 - Enterprise AI adoption 20:24 - Where's the productivity gains? 26:24 - Where to invest now 30:16 - Favorite sectors 34:07 - US vs. international 37:29 - Too late to buy AI? 39:07 - What could derail the AI trade 40:44 - Follow Stephanie #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Jérémie Boyer is the co-founder of Aurelion Research, an independent investment research firm based in Montreal. He joins Phil Rosen on Full Signal to discuss Canada's defense spending boom, the coming uranium supply squeeze, the Brazil election trade, and his top stock picks that Wall Street is ignoring. This episode is sponsored by Bloomberg: http://bloomberg.com/equityindices Full Signal episodes are available on Apple Podcasts and Spotify 3 hours before YouTube: Apple: https://podcasts.apple.com/us/podcast/full-signal/id1850620905 Spotify: https://open.spotify.com/show/2CX5KAB0jdOTBNPVJOHN6D Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/phil-rosen-763601187/ Timestamps: 0:00 - NATO defense spending 3:35 - Nuclear power demand 5:02 - Cameco 6:54 - Latin America Stocks 11:07 - AI and pharma 13:07 - Globus Medical 14:48 - Century Aluminum 17:10 - Space bet 18:54 - Does SpaceX help MDA? 20:42 - XP 21:44 - Nvidia bull case 26:10 - Follow Jérémie #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Meb Faber is the co-founder and chief investment officer of Cambria Investment Management, which runs a suite of ETFs with roughly $5 billion in assets. He joins Phil Rosen on Full Signal to discuss the "bear market in diversification," why US stocks look expensive next to the rest of the world, the global buyback boom, risks of the AI trade, and how he'd build a portfolio from scratch today. Today's episode is sponsored by Direxion: https://www.direxion.com/product/daily-tsla-bull-and-bear-leveraged-single-stock-etfs Watch on YouTube: https://www.youtube.com/@philrosenn Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Historic bull market 4:28 - Bear market in diversification 7:40 - Opportunities outside the US 9:51 - US stocks look expensive 11:37 - Buyback revolution 17:02 - Value without avoiding tech 20:45 - SpaceX, Anthropic, OpenAI 22:34 - Will AI be a good investment? 27:07 - Building a portfolio from scratch 31:57 - Investing at all-time highs 33:28 - Shareholder yield 39:14 - Follow Meb #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Phil Rosen — co-founder of Opening Bell Media and chief market strategist for Silvia Inc. — joined Anthony Pompliano on stage at the Silvia Investor Summit in New York to discuss the most important charts driving markets, the stocks inside his portfolio today, and the bull and bear cases on AI.This conversation was filmed on October 8, 2026. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Tech and energy doing heavy lifting 2:26 - Oil spikes vs. a resilient stock market 3:39 - Investors stopped caring about Iran 5:30 - Midterm year seasonality 8:31 - The bear case on AI 9:32 - The bull case on AI 11:17 - What would break the AI trade 12:11 - Using AI to make investments 15:09 - Micron, Vertiv, Marvell 16:27 - Eli Lilly 17:24 - Inside my portfolio 18:40 - Bonds are boring 20:40 - Opening Bell Daily and Silvia Insights #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Kai Wu is the founder and CIO of Sparkline Capital. He joins Phil Rosen on Full Signal to discuss the K-shaped stock market, why he's cautious on the AI infrastructure trade, whether Anthropic and OpenAI have real moats, and why AI early adopters present the market's best opportunity. This episode is sponsored by Bloomberg: http://bloomberg.com/equityindices Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 Most stocks are crashing 3:27 Bearish on AI boom 5:50 3 stages of AI buildout 8:17 Circular financing 11:46 Do Anthropic and OpenAI have moats? 17:06 $2 trillion AI lab IPOs 18:25 Chips and boom-bust cycle 22:51 Avoid picks and shovels 25:10 Lessons from historical disruption 29:18 Best opportunities today 34:05 2 stocks with moats 37:58 Picking stocks with AI 41:17 Follow Kai #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Julia Hermann is a global market strategist at New York Life Investment Management. She joins Phil Rosen on Full Signal to discuss the shift to a market-led liquidity regime, the future of the Fed put, political pushback on AI data centers, why she's still bullish on financials, and where she sees opportunity in the year ahead. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - New liquidity regime 4:43 - Rethinking the Fed put 7:04 - Don't count on a bailout 8:08 - Rise of non-bank liquidity 10:11 - Kevin Warsh and market-led policy 13:09 - Total portfolio approach 15:42 - What to buy for the next decade 17:11 - AI driving capital 20:33 - Midterm elections 22:14 - Political pushback on data centers 25:41 - Financials 27:33 - Why not just own tech? 30:47 - Fixed income 32:12 - 5% yields vs. stocks 35:26 - Should we trust the Fed? 36:45 - Unreliable jobs data 39:12 - Follow Julia #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Tatiana Darie is macro strategist at Bloomberg. She joins Phil Rosen on Full Signal to discuss why stocks keep hitting records with yields above 5%, why she thinks the AI cycle is in a mature stage, the junk credit risk investors should pay attention to, and her favorite sectors heading into 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/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Stocks up despite 5% yields 5:49 - Warsh Fed risks 8:04 - Rising oil and energy prices 9:32 - Gas prices top 2022 peak 10:24 - Energy is boosting earnings 15:54 - Expectations bubble? 16:27 - AI cycle is mature, not early 19:46 - Red flag for the AI trade 21:31 - Tactically bullish 22:54 - Buy-and-hold is not enough 24:29 - Deflation or burst? 25:28 - Junk Credit 28:44 - Tech looks cheap 30:24 - Semiconductors 31:36 - Energy 33:38 - Utilities 34:26 - Healthcare #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Anthony Pompliano is the CEO of Silvia Inc. and the author of "How to Live an Extraordinary Life, Volume 2." He joins Phil Rosen on Full Signal to discuss the problems with macro data, the accelerating AI trade, the three assets he likes best, and how investors should position for the decade to come. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Macro bears are wrong 5:53 - AI adoption reality check 8:23 - Bitcoin, gold, land 10:08 - Microsoft and Netflix? 14:31 - Barbell portfolio strategy 16:01 - How AI impacts Bitcoin 19:41 - Gold 20:43 - How to Live an Extraordinary Life Vol. 2 23:05 - The ego tax 24:02 - Procrastination is arrogance 25:19 - Amateurs built Noah's Ark #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Josh Schafer is an investment writer and strategist at Barron's, and the author of the Searching for Signals Substack. He joins Phil Rosen on Full Signal to discuss why market breadth is weakening even near record highs, how Meta's Muse is fueling the AI rally, the rise of consumer AI agents, and his top stock picks for the year ahead. This episode is sponsored by Bloomberg: http://bloomberg.com/equityindices Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps: 0:00 - Market breadth narrowing 2:49 - Why stocks ignore bond yields 4:22 - Meta Muse 6:00 - Fee AI products vs. monetization 11:16 - Would consumers pay for AI agents? 13:39 - AI regulation and existential risk 16:32 - AI token prices 19:08 - Trump's tech CEO seating chart 22:09 - Intel 23:32 - Cybersecurity 26:01 - Walmart 28:38 - Under-the-radar sports stock 31:37 - Searching for Signals#podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Steph Guild is the chief investment officer for Robinhood, where she runs Robinhood Strategies, an actively managed portfolio strategy at the firm. She joins Phil Rosen on stage at HOOD Summit in Houston for a live taping of Full Signal to discuss her highest-conviction ideas, what stocks are inside Robinhood's portfolio right now, risks in the bond market, healthcare and defense stocks, and why double-digit earnings growth may not last. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Stocks at record highs 1:38 - Energy as a hedge 2:32 - Midterms and 4-year cycle 3:45 - Market breadth narrowing 5:06 - Earnings expectations bubble? 7:29 - 10-year yield at 5.2% 10:35 - Stocks vs. bonds 11:28 - AI capex vs. economic growth 12:45 - Torpedoes vs. resets 14:35 - Software and consumer divide 15:46 - Energy stock picks 17:29 - Healthcare, Shopify, Eli Lilly 18:54 - Defense sector 20:37 - How Robinhood Strategies evolved 23:31 - AI bubble risks 26:19 - Cybersecurity stocks 27:18 - Stocks to avoid 29:06 - What we could be wrong about 31:24 - Follow Steph #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Jeff Hirsch is the editor of the Stock Trader's Almanac, the market guide that just hit its 60th anniversary. He joins Phil Rosen on Full Signal to discuss the midterm-year "sweet spot" for stocks, the AI super boom and his Nasdaq outlook, what 5% bond yields mean for investors, and why he's selling bonds and buying small caps. This episode is sponsored by Bloomberg: http://bloomberg.com/equityindices Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Where are we in the cycle? 0:30 - AI super boom 3:02 - Midterm-year sweet spot 6:42 - Bond yields at 5% 9:19 - Split Congress hurts stocks 10:40 - AI earnings beat everything? 11:40 - Does seasonality still matter? 14:35 - Tech concentration 16:25 - Turning bearish 19:07 - Lessons from super booms 21:00 - Favorite sectors 22:30 - Small caps 25:25 - MACD signal 27:57 - Steelman the bear case 29:03 - What we could be wrong about 29:47 - Follow Jeff #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Justus Parmar is the CEO of Fortuna Investments, an America-first venture capital firm, and Joey Magazine is a partner at Fortuna Investment and an elected official as Miami Beach Commissioner and Chair of the Finance Committee. They joined Phil Rosen on stage at Future Proof in California to discuss how to make investment decisions that align with policy, the sectors that should outperform in the current macro and geopolitical backdrop, and what ideas will win the next decade. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Investing from policy 2:34 - Capital flight and midterms 4:06 - Uranium, rare earths, aerospace 6:02 - Sectors that survive policy 9:56 - America First vs. pure innovation 12:52 - What investors miss on policy 15:35 - Miami as Wall Street South 17:46 - Building Miami's ecosystem 20:13 - Government stakes in private companies #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Jessica Inskip is the director of research for StockBrokers.com and one of the most followed investment voices in the industry. She joins Phil Rosen on Full Signal to unpack the risks in the bond market, AI overwhelming the macro setup, and the stocks and trades she likes best heading into the new year. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Bullish trading cycle 2:55 - End of the cycle? 4:30 - 10-year yield at 5.2% 7:32 - Price-agnostic to price-sensitive buyers 8:10 - Bonds vs. stocks 10:49 - When yields hurt stocks 12:53 - US fiscal credibility 16:53 - All in on AI 18:03 - Hyperscalers 20:27 - Meta's Muse 26:00 - Apple 31:09 - Corners of the market to avoid 32:35 - How to buy tech 33:40 - Follow Jess #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Warren Pies is the founder of 3Fourteen Research, a leading institutional risk manager and research firm. He joins Phil Rosen on Full Signal to discuss his current portfolio positioning, sector calls, why he's bullish semiconductors and hyperscalers, GPU availability and AI demand, and more. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Overweight equities 3:30 - Tech-heavy market and AI leadership 5:29 - Macro shocks 11:05 - Low correlations and pair trades 13:37 - Semis and broadening trade 17:35 - GPU availability and rental rates 21:22 - Compute indicators flashing bullish 25:08 - Frontier lab ARR 30:08 - Hyperscalers leadership 32:34 - AI CapEx and the Fed 36:38 - What ends the bull run? 40:32 - Favorite sectors 41:46 - 3Fourteen Research #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Nancy Tengler is the CEO and chief investment officer of Laffer Tengler Investments, where she has managed growth, dividend-growth, and value portfolios for three decades. She joins Phil Rosen on Full Signal to discuss why she still sees the AI bull market in its early stages, whether hyperscaler cash burn and rising bond yields are real threats, and her highest-conviction stock picks heading into 2027. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - State of the AI bull market 2:02 - Why the doomer narrative persists 3:34 - Earnings outpacing stock prices 7:12 - Broadening-out trade stalls 9:20 - Hyperscaler free cash flow concerns 11:39 - Bond yields risk 16:16 - Walmart 17:53 - AMD 19:06 - Quanta Services 20:55 - Tesla 23:33 - CrowdStrike 25:24 - DR Horton 28:12 - Alphabet and Amazon 33:27 - Where to find Nancy's research #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Sonali Basak is the chief investment strategist for iCapital. She joins Phil Rosen on stage at Future Proof for a live episode of Full Signal to discuss the Federal Reserve's first rate hike in 3 years, funding the AI infrastructure buildout, hyperscalers tapping debt markets, and her favorite opportunities in the market right now. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - First Fed hike in 3 years 3:11 - AI capex fueling growth 5:56 - Financing the AI buildout 9:22 - Treasury vs. Fed in bond market 11:05 - Rising 10-year yield risks 14:57 - Financials & Industrials 17:42 - AI bear case and sell-off 22:14 - What will we be wrong about? 25:34 - Public-to-private VC research 28:29 - iCapital research #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Nick Frasse is a product manager at VanEck, where he works on SMH, the largest US-listed semiconductor ETF with over $70 billion in assets. He joins Phil Rosen on Full Signal to discuss the most credible bear case for chips, why AI demand could make semiconductors less cyclical, the bottlenecks slowing the data center buildout, and why software companies with strong moats will likely hold up against AI. This episode is sponsored by Y'all Street Asset Management: https://www.yallstreetetfs.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - SMH and semiconductor demand 1:16 - Bear case for chips 5:27 - Semis collaborate, not compete 10:16 - Are semis still cyclical? 13:53 - SMHX and fabless chipmakers 15:32 - Asset-light vs. asset-heavy 16:59 - AI buildout bottlenecks 19:49 - Data centers, robotics, and space 21:25 - Grid-to-rack supply chain 22:51 - Financing the AI buildout 24:41 - Is AI killing software? 27:44 - Hyperscalers turning asset-heavy 29:21 - Robotics 30:52 - Follow Nick and VanEck #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed