Host Jeremy Schwartz and Professor Siegel discuss resilient equity markets amid geopolitical tensions, strong earnings with a high beat rate, and continued strength in AI-driven demand. The Prof highlights steady economic data, manageable oil price pressures, and expectations for a Fed pause with attention turning to future policy decisions and inflation risks. (12:57) Jeremy continues with Chris Gannatti, Jeff Weniger, and Sam Rines to break down a strong earnings season led by consumer spending resilience and semiconductor momentum, particularly Intel’s turnaround and AI-related demand. The group also explores mixed signals in labor markets, the impact of tariffs and tax refunds on consumption, and ongoing volatility in software stocks versus semiconductors, with debate over AI’s long-term impact on tech valuations and earnings growth.
Host Jeremy Schwartz and Professor Siegel discuss easing geopolitical tensions in the Middle East, declining oil prices, and the market’s positive reaction driven by liquidity and defense spending. The Prof emphasizes there are no signs of recession despite low consumer sentiment and highlights continued strength in employment and earnings expectations. (12:32) Jeremy continues with Sam Rines, Chris Gannatti, and Jeff Weniger to discuss the market implications of falling oil prices, global equity reactions, and opportunities in international markets like India and Korea. They explore earnings trends, valuation dynamics, and sector rebounds, while also անդր addressing developments in AI, quantum computing, and shifting narratives in commodities like gold and copper.
Host Jeremy Schwartz and Professor Siegel discuss rising concerns around inflation and the possibility of a Fed rate hike driven by a recent increase in money supply and persistent energy price pressures. The Prof notes that while CPI came in slightly better than expected, resilient consumer spending and rising oil-related costs could complicate the Fed’s path, keeping policy restrictive for longer. (13:43) Jeremy is joined by Sam Rines, Chris Gannatti, Jeff Weniger, and MacroCharts to break down geopolitics, energy markets, and equity positioning. The group discusses the likelihood of a U.S.–Iran ceasefire, resilience in the U.S. consumer despite higher oil prices, and volatility in tech driven by AI competition and SaaS repricing. MacroCharts highlights a potential top in energy, a constructive outlook for equities driven by underinvestment and positioning, and emerging opportunities across commodities, international markets, and beaten-down sectors poised to join a broader market recovery.
Host Jeremy Schwartz and Professor Siegel discuss a surprisingly strong jobs report, the impact of rising geopolitical tensions and oil prices on the economic outlook, and the recent acceleration in money supply and its implications for Fed policy. Professor Siegel notes that while the labor market remains firm and long-term optimism persists, increased uncertainty from war and inflation risks warrants more short-term caution. (11:42) Jeremy continues with Chris Gannatti and Jeff Weniger to cover the potential SpaceX IPO and its implications for index inclusion and market structure, along with broader themes around companies staying private longer and the challenges that creates for public market investors. They also explore valuation trends in equities, shifting earnings expectations, and the evolving impact of AI—particularly in areas like drug discovery—while debating reporting standards and long-term innovation trends.
Tech Turbulence Today, A Retirement Sketchbook for Tomorrow
27.03.2026 | 1 godz. 48 min.
Show from 03/27/26
Host Jeremy Schwartz, joined by Jeff Weniger, Michael Fridman, and Chris Gannatti, discuss the recent tech-led market selloff, compression in equity valuations, and geopolitical-driven volatility impacting oil, rates, and global markets. They highlight that despite multiple contraction, forward earnings expectations remain intact, while dislocations in areas like cybersecurity and AI-linked equities may present selective opportunities. (59:58) Jeremy continues with Jamie Hopkins to discuss his new book on retirement planning, focusing on behavioral finance and the role of emotions in financial decision-making. Jamie emphasizes the importance of connecting with your future self, using visualization and automation to improve saving behaviors, and balancing emotional awareness with disciplined planning. He also highlights rising financial fraud risks in an AI-driven world and shares practical strategies for protecting personal data and making more resilient long-term financial decisions.
Mike Fridman: https://x.com/justmikeel Your Retirement Sketchbook: https://www.amazon.com/Your-Retirement-Sketchbook-Planning-Financial/dp/1804091952 Jamie Hopkins: https://investors.wsfsbank.com/governance/board-of-directors/person-details/?ItemId=37a7fed2-efb6-4b89-8dc7-4f2b3404d370 WisdomTree: https://www.wisdomtree.com/investments
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.
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