The Compound and Friends

Denise Chisholm, Director of Quantitative Market Strategy at Fidelity, shares her insights on stock market indicators. She explains why median earnings growth is crucial for market health. Denise delves into credit spreads, illustrating their predictive power for equity gains. She also discusses valuation spreads, highlighting optimal buying opportunities during market fear. Alongside the hosts, she explores investor behavior during declines and the implications of Fed policy on growth and inflation. It's a deep dive into the metrics that matter most!

Peter Lynch, the legendary investor who led Fidelity's Magellan Fund to incredible heights, shares insights from his illustrious career. He discusses the importance of understanding what you own to avoid panic selling and emphasizes the need for diligent research to uncover overlooked investment opportunities. Lynch also highlights his admiration for resilient business leaders, advises against obsessing over market forecasts, and shares the value of keeping it simple in investing. His core beliefs remain rooted in the basics, encouraging individual investors to take charge of their financial futures.

Steve Romick, a seasoned value-oriented portfolio manager and co-portfolio manager of the FPA Crescent Fund, shares insights on navigating market risks while maximizing returns. He discusses his risk-first approach, highlighting lessons from the dot-com bubble and the importance of valuing durable businesses. Romick emphasizes the significance of adapting investment strategies, the current market landscape with opportunities in small/mid caps, and the potential impact of AI. He also critiques cryptocurrencies due to valuation challenges, providing a thorough outlook for active investors.

Telis Demos, a Heard on the Street columnist for The Wall Street Journal, dives into the implications of falling mortgage rates and the highly publicized U.S. TikTok deal, exploring ownership and political concerns. He also reveals insights on JPMorgan's credit card strategy and discusses the booming private market investments in 401(k)s. The conversation further touches on the frenzy around pre-revenue stocks, the AI capital expenditures arms race, and implications for the broader economy. A juicy mix of finance, tech, and market trends!

Tom Sosnoff, a veteran options trader and fintech entrepreneur known for founding Thinkorswim and TastyTrade, dives into the world of trading. He shares insights on his journey from pit trader to building a prop firm and emphasizes the importance of a contrarian mindset. The discussion also covers TastyTrade's unique math-driven approach to teaching trading, the impact of retail trading outcomes, and reflections on industry shifts, including Robinhood's disruption. Tom hints at future innovations in trading tools and community-building.

Nick Colas, co-founder of DataTrek Research and author of their morning briefing newsletter, dives into intriguing market topics. He analyzes potential interest rate cuts and their varying impacts on sectors like home builders. Colas compares modern tech giants like NVIDIA and Meta to historical benchmarks, discussing the importance of evolving business models. A fascinating debate on shifting to semi-annual earnings reporting highlights transparency challenges. They also touch on the intersecting worlds of aging finance and crypto dynamics, considering index inclusion complexities.

Join Jenny Johnson, President and CEO of Franklin Templeton, as she shares her inspiring journey from the mailroom to the C-suite. Discover her insights on the rise of alternative investments and how technology, including AI and blockchain, is reshaping finance. Jenny emphasizes the importance of resilience in career success and unveils her leadership philosophy centered around People, Passion, Purpose, and Persistence. Plus, get a glimpse into the exciting future of private credit and innovative investment strategies!

Michael Sidgmore, Partner and Co-Founder of Broadhaven Ventures, dives into the booming world of private equity. He discusses the evolution of private markets and the recent T. Rowe Price and Goldman Sachs partnership aimed at broadening access for retail investors. The conversation covers market trends, the risks and rewards for new investors, and the significance of branding in asset management. Humor and insights blend as they examine liquidity needs and the changing dynamics in alternative investments.

Dive into the latest on Google's legal victories and its impact on market dynamics. The discussion covers the surprising rally in junk stocks and how investor sentiment is shaped by AI hype versus skepticism. Explore the challenges facing middle-class households and the implications for the American dream. The hosts analyze American capitalism's unique traits, including risk-taking culture and corporate transparency. Lastly, get insights on the performance of small-cap stocks and the ever-changing investment landscape.

Jan Van Eck, CEO of VanEck, dives into the future of energy demand and the implications of rising electricity costs on lower-income households. He explores the impact of Nvidia's earnings and AI on job markets, while emphasizing the importance of gold and Bitcoin as hedges against inflation amid concerns over national debt. The conversation also touches on private equity's performance vs. public companies and how emerging markets, particularly India, are reshaping investment strategies. Tune in for insightful takes on the evolving financial landscape!