Behind the Markets Podcast

Show from 2026-06-12

Host Jeremy Schwartz and Professor Siegel discuss the market’s positive reaction to a ceasefire agreement involving Iran, the reopening prospects for the Strait of Hormuz, and the potential impact of lower oil prices on inflation and economic growth. The Prof also highlights the highly anticipated SpaceX IPO, the wealth creation it could generate for investors, and previews next week’s pivotal Federal Reserve meeting and comments expected from Kevin Warsh. (21:01) Jeremy is joined by Sam Rines, Chris Gannatti, and Jeff Weniger to discuss competition in artificial intelligence between OpenAI and Anthropic, the economics of AI token usage, and the potential for lower AI costs over time. The group also explores government investment in strategic industries such as semiconductors and quantum computing, examines investor sentiment and thematic investing trends, and debates the broader implications of the SpaceX IPO, including wealth creation, index inclusion, and consumer spending impacts.

WisdomTree: https://www.wisdomtree.com/investments

Show from 2026-06-05

Host Jeremy Schwartz and Professor Siegel discuss the surprisingly strong jobs report, the implications for upcoming Federal Reserve policy, and continued strength in equity markets despite geopolitical tensions and questions around productivity gains from AI. Professor Siegel also comments on international diversification, the dominance of U.S. technology companies, and the disconnect between Wall Street performance and broader economic productivity. (19:23) Jeremy is joined by Ben Carlson to discuss his new book, Risk and Reward: How to Handle Market Volatility and Build Long-Term Wealth. The conversation covers investor behavior during bull and bear markets, the importance of diversification, lessons from Japan and international markets, concentration risk, systematic investing, trend-following strategies, and how investors can avoid common mistakes such as market timing while maintaining a long-term perspective.
Guest: I’m the Director of Institutional Asset Management at Ritholtz Wealth Management. We create detailed investment plans and manage portfolios for institutions and individuals to help them achieve their goals.
I’ve been managing institutional portfolios for my entire career. I started out with an institutional investment consulting firm developing portfolio strategies and creating investment plans for various foundations, endowments, pensions, hospitals, insurance companies and high net worth individuals. More recently, I was part of the portfolio management team for an investment office that managed a large endowment fund for a charitable organization.
I’m the author of four books about saving, investing and money.
In 2017, I was named to the Investment News 40 Under 40 list of top financial advisors.
Every Wednesday, you can listen to a new episode of my podcast Animal Spirits with Michael and Ben. Fortune named Animal Spirits to its list of Best Business Podcasts. Investopedia named Animal Spirits to its top 10 investing podcast list.

Wealth of Common Sense: https://awealthofcommonsense.com/my-book/
WisdomTree: https://www.wisdomtree.com/investments

Show from 2026-05-29

Host Jeremy Schwartz and Professor Siegel discuss easing oil prices, lower Treasury yields, AI-driven market strength, recent economic data, and why investors should compare stock earnings yields to real bond yields rather than nominal bond yields. Professor Siegel notes that growth remains positive with no signs of recession, while also highlighting stronger money supply growth and upcoming labor market data as key areas to watch. (16:45) Jeremy is joined by Jeffrey Roach, Jeff Weniger, Sam Rines, and Chris Gannatti to discuss the economic outlook, inflation expectations, Fed independence, and portfolio positioning. The group examines consumer spending trends, opportunities in international markets with a focus on India, the outlook for oil prices following the Strait of Hormuz disruption, and sector opportunities across technology, healthcare, and biotech. They also explore AI infrastructure demand, government investment in strategic technologies such as drones, semiconductors, and quantum computing, and the broader implications of AI on productivity, employment, and future market leadership.
Guest: Jeffrey Roach is Chief Economist for LPL Financial. Responsible for relating economic conditions with financial market outcomes, Jeffrey provides forward-looking views of global economic conditions and sets forecasts across various economic data series.
Jeffrey is also a member of LPL Research’s Strategic & Tactical Asset Allocation Committee (STAAC), which provides a united investment view across a comprehensive range of investing disciplines. He provides regular, compelling insights for financial advisors and enterprise clients, and communicates the firm's economic views via conference calls, webinars, LPL events, and media engagements.
Known for cutting-edge research across a career that spans over 20 years in investing and economics, Jeffrey maintains frequent contact with Federal Reserve economists, Wall Street analysts, and other leading global money managers. He’s an avid contributor to the financial press outside of LPL Financial and is a sought-after speaker.

Jeff Roach: https://www.linkedin.com/in/jeffreyroachphd
WisdomTree: https://www.wisdomtree.com/investments

Show from 2026-05-22

Host Jeremy Schwartz is joined by Sam Rines, Jeff Weniger, Chris Gannatti and Jon Flynn to discuss geopolitical developments surrounding Iran negotiations, China’s growing pushback on ADRs and solar exports, and contrarian opportunities emerging in India, Europe and gold amid heavy investor outflows. The group also explores Nvidia’s latest earnings, the government’s new investments in quantum computing, and how expectations and capital flows are shaping the next phase of AI, commodities and infrastructure investing. (9:21) Jeremy continues with Chris, Jeff and Jon as they debate the rise of quantum computing, the strategic importance of rare earth metals and utilities, and the growing overlap between AI, energy and national security. The conversation also covers SpaceX’s upcoming IPO, private market enthusiasm surrounding AI and space, and how investors are beginning to think about the next generation of technological infrastructure and innovation.

WisdomTree: https://www.wisdomtree.com/investments

Show from 2026-05-15

Host Jeremy Schwartz and Professor Siegel discuss the market reaction to President Trump’s summit with China, with the Prof calling the outcome a disappointment due to tensions around Taiwan, limited progress on Iran and weaker-than-expected economic deals. Professor Siegel also highlights rising oil prices, higher long bond yields and the resilience of the U.S. economy despite growing geopolitical uncertainty and inflation pressures. (12:39) Jeremy continues with Samuel Rines, Jeff Weniger and Chris Gannatti to discuss rising global bond yields, the impact of Taiwan tensions on markets and the growing influence of AI-related trades across emerging markets and tech sectors. The group also examines opportunities in India, healthcare valuations and the ongoing quantum computing race, while debating whether the recent surge in AI and semiconductor names is becoming stretched. Sam closes by noting the surprising resilience of the U.S. economy and the possibility that stronger growth could justify higher long-term interest rates.

WisdomTree: https://www.wisdomtree.com/investments