Podcast
Behind the Markets Podcast
Hosted by Behind the Markets · EN
Jeremy Schwartz, Global Chief Investment Officer at WisdomTree and Jeremy Siegel, professor of finance at Wharton and author of Stocks for the Long Run, host this long-running podcast that dives into the how and why of market performance with leading economists and market strategists to inform you what’s ahead for the economy and your portfolio.
Regularly joining the two Jeremys is the Deep Rooted Macro Team that decodes the forces shaping markets and portfolios worldwide.
Chris Gannatti, CFA, Global Head of Research, offers an analytical and thematic edge—bridging macro trends with on-the-ground technology and innovation. Whether unpacking the infrastructure powering the AI age or latest biotech breakthroughs, Chris translates complexity into conviction.
Jeff Weniger, CFA, Head of Equity Strategy, injects the pulse of behavioral markets and valuation discipline. With sharp macro instincts, Jeff dissects cycles, sentiment, and structural change with trademark clarity and wit.
Sam Rines, Macro Strategist for Model Portfolios, ties the threads together—linking policy, politics, and portfolio construction. His pragmatic macro lens captures how geopolitics, industrial policy, and energy dynamics flow into real-world GeoAlpha.
Together, the Deep Rooted Macro squad creates a fusion of rigorous research, accessible insights, and genuine debate.
Behind the Markets provides a regular masterclass in how the world really works beneath the surface of prices, data, and headlines. Tune in to hear where the Deep Rooted Macro team sees the next big shifts taking root.
23episodes
Episodes
Newest firstAll episodes
Markets on Edge: Oil and AI Crosscurrents
Mar 1300:41:35Tap to summarizeShow from 03/13/26 Host Jeremy Schwartz and the WisdomTree team begin the episode discussing the surge in oil prices tied to tensions in the Middle East and how higher energy costs could affect consumers, transportation, and global supply chains. They also examine stress signals in private credit markets, the divergence between private equity firms and the broader S&P 500, and the recent rotation away from mega-cap tech despite improving valuations. The group closes the segment with a discussion on emerging AI themes like agentic AI and robotics, semiconductor capacity constraints, and how investors may rebalance portfolios after energy’s strong performance while looking for opportunities in areas like Japan, industrials, and consumer discretionary. (31:51) Professor Siegel joins Jeremy to share his outlook on the recent oil shock and its impact on markets, noting that while higher gasoline prices may weigh on sentiment and cause short-term volatility, real oil prices remain near long-term averages. He also explains why the Federal Reserve is unlikely to react to a supply-driven oil shock, expects policy to remain on hold for now, and reiterates his long-term optimism for equities and the continued growth of AI. WisdomTree: https://www.wisdomtree.com/investments
Transcribe →Weak Payrolls, a Productivity Boom, and Disruptive Tech
Mar 601:29:55Tap to summarizeShow from 03/06/26 Host Jeremy Schwartz and Professor Siegel discuss the surprisingly weak payroll report and how it contrasts with strong economic indicators like ISM data and retail sales, with the Professor suggesting rising productivity—potentially driven by AI—may explain how GDP remains strong with little job growth. They also review geopolitical tensions involving Iran, rising oil prices, and the Strait of Hormuz, with Siegel noting energy shocks could pressure markets but would not likely change the Fed’s near-term policy stance. (18:13) Jeremy continues with Sam Rines and Jeff Wenniger to analyze the oil spike, global geopolitics, and labor market data, including how weather disruptions and strikes may distort the jobs report and lead to a rebound in March employment. The group also discusses China’s economic outlook, energy constraints, and broader investment themes such as international defense spending and innovation cycles outside the U.S. The episode concludes with Jeremy interviewing Ian De Bode of Ando Finance and WisdomTree’s Maredith Hannon about tokenization, stablecoins, and how blockchain-based financial rails could reshape investing, trading hours, and global access to U.S. financial markets. Ian De Bode on LinkedIn: https://www.linkedin.com/in/idebode/ Maredith Hannon on LinkedIn: https://www.linkedin.com/in/maredith-hannon/ WisdomTree: https://www.wisdomtree.com/investments
Transcribe →AI and National Security live from DC
Jun 6, 2025Tap to summarizeShow from 06/06/25 Host Jeremy Schwartz and Professor Siegel analyze the latest employment report, which showed a mixed picture with strong healthcare and entertainment hiring, despite downward revisions in prior months. Professor Siegel emphasized the overall positive market sentiment, noting resilience in spending and projecting potential new all-time highs for the S&P 500. (11:23) Jeremy and Chris Gannatti are joined by Dylan Patel, founder of SemiAnalysis, to explore critical AI infrastructure themes discussed at the SCSP conference. They dive into the challenges of US chip policy, the implications of export restrictions, global supply chain risks, and power constraints facing data centers. Dylan provides a deep dive into geopolitics, national security, and whether AI infrastructure spending—especially in the Middle East—is sustainable or represents the next bubble. Guest: Dylan Patel is the Founder, CEO, and Chief Analyst of SemiAnalysis – the preeminent authority on all things AI and semiconductors. Through Dylan’s unwavering commitment to excellence, he has built the firm from the ground up as the recognized authority on the semiconductor supply chain to the cloud ecosystem, machine learning models, and all things in between. Since 2020, SemiAnalysis has transformed its business from a solo venture into a cohesive and focused team to provide breaking news and in-depth analysis for the most strategic, complex, and escalating challenges in the semiconductor industry. Follow Dylan on X: https://x.com/dylan522p?lang=en Wisdom Tree: https://www.wisdomtree.com/investments SCSP Conference: https://www.scsp.ai/
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