Podcast
Full Signal
Hosted by Phil Rosen · EN
Financial markets and economic data explained through interviews with Wall Street's smartest investors, hosted by award-winning journalist and author Phil Rosen, who is the chief market strategist for ProCap Financial and the co-founder and CEO of Opening Bell Media.
46episodes
Episodes
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Liz Ann Sonders: This is how the AI bubble bursts
Yesterday00:39:49Summary readyLiz 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
SummarySpaceX IPO will SHATTER the stock market?! | James Seyffart
2d ago00:39:35Summary readyJames 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
Summary4 trades to BUY NOW for the 2026 macro cycle! | Eric Wallerstein
1w ago00:35:08Summary readyEric 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
SummaryWall Street is IGNORING this red flag in markets! | Sonali Basak
1w ago00:32:39Summary readySonali 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
Summary4 stocks to BUY NOW as AI takes OVER! | Lou Basenese
1w ago00:20:09Summary readyLou 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
SummaryThis is how AI BREAKS the stock market! | Gina Martin Adams
2w ago00:34:54Summary readyGina 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
SummaryLyft CEO on RoboTaxis, Uber and why investors MISPRICE the stock!
3w ago00:37:38Summary readyLyft 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
SummaryThe AI trade is going GLOBAL! | Gabriela Santos, JPMorgan Asset Management
3w ago00:27:42Summary readyGabriela 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
SummaryThe REAL risk of a record stock market! | Kevin Gordon
3w ago00:35:37Summary readyKevin 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
SummaryBitcoin will DOMINATE the AI bull market! | Anthony Pompliano
4w ago00:20:57Summary readyAnthony 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
Summary