Phil Rosen

Chief Market Strategist, ProCap Financial • Co-founder & CEO, Opening Bell Media (207K+ subs) • Host of Full Signal • Get my newsletter every AM👇

[Phil Rosen @philrosenn]

The S&P 500 is at all-time highs even with the Iran conflict and oil prices fueling negative sentiment.

This bull market has too much momentum to let geopolitics push it off course.

My conversation with @MariaBartiromo on Fox Business.

[Phil Rosen @philrosenn]

@mike_h1990 My guy

[Phil Rosen @philrosenn]

Memory stocks are in a bear market but the drawdown is taking place inside of a generational bull market and AI supercycle.

A 25% sell-off doesn't matter if a stock has already gained 800%.

[Phil Rosen @philrosenn]

@capitalflows It is looking pretty compelling here

[Phil Rosen @philrosenn]

Nvidia has never looked this cheap and valuable.

- $NVDA revenue 2 years ago: $26 billion
- $NVDA projected revenue today: $91 billion

Forward P/E dropped from 36x to 21x while revenue has almost quadrupled.

Insane.

[Phil Rosen @philrosenn]

Mike Green (@profplum99) explains how levered semiconductor ETFs distort the stock market and juice names like Nvidia and Micron while generating volatility drag.

These products can go to zero even if the underlying asset is still going up.

[Phil Rosen @philrosenn]

Passive investing and the AI bull run are fueling another 1987-style market crash, according to Mike Green (@profplum99).

We sat down to unpack why AI economics do not work, the risks investors are ignoring right now, how passive flows and leverage distort markets, and where Mike would put capital to work today in a brand new portfolio.

Mike has navigated markets for decades and his work on passive is second to none.

This is a must-listen conversation with one of the best in the business.

TIMESTAMPS:

0:00 - Caution on AI bull market
2:57 - AI's real value
5:38 - Nvidia's vendor financing
7:47 - The China threat
9:39 - Should investors sit out?
11:29 - Passive investing risks
13:17 - Are stocks actually cheap?
15:57 - 1987 crash parallels
19:17 - Are markets broken?
24:08 - Passive flows and leverage
26:10 - Can regulators step in?
28:21 - Building a new portfolio today
32:09 - Inflation vs. deflation
36:35 - US economic opportunity
42:32 - Mike's new book

[Phil Rosen @philrosenn]

The S&P 500 is up 18.3% since March 30 despite the start-and-stop Iran conflict.

War has historically been bullish for the stock market and investors who buy the dip are usually rewarded.

[Phil Rosen @philrosenn]

Memory stocks are up 400-700% over the last year but fundamentals justify the gains.

Samsung's operating profits perfectly tracks an index of Micron $MU, SK Hynix and Samsung.

[Phil Rosen @philrosenn]

@Xi_zynking He is very smart

[Phil Rosen @philrosenn]

Nvidia, Micron and other AI names are reporting record earnings but the boom rests on a shaky circular financing ecosystem, Mike Green (@profplum99) says.

The economics are being distorted just like in the dot-com era, he said, and frontier labs are driving new market risks.

[Phil Rosen @philrosenn]

Passive investing and the AI bull run are fueling another 1987-style market crash, according to Mike Green (@profplum99).

We sat down to unpack why AI economics do not work, the risks investors are ignoring right now, how passive flows and leverage distort markets, and where Mike would put capital to work today in a brand new portfolio.

Mike has navigated markets for decades and his work on passive is second to none.

This is a must-listen conversation with one of the best in the business.

TIMESTAMPS:

0:00 - Caution on AI bull market
2:57 - AI's real value
5:38 - Nvidia's vendor financing
7:47 - The China threat
9:39 - Should investors sit out?
11:29 - Passive investing risks
13:17 - Are stocks actually cheap?
15:57 - 1987 crash parallels
19:17 - Are markets broken?
24:08 - Passive flows and leverage
26:10 - Can regulators step in?
28:21 - Building a new portfolio today
32:09 - Inflation vs. deflation
36:35 - US economic opportunity
42:32 - Mike's new book

[Phil Rosen @philrosenn]

Spotify: https://t.co/O38rJXCcRG

[Phil Rosen @philrosenn]

Passive investing and the AI bull run are fueling another 1987-style market crash, according to Mike Green (@profplum99).

We sat down to unpack why AI economics do not work, the risks investors are ignoring right now, how passive flows and leverage distort markets, and where Mike would put capital to work today in a brand new portfolio.

Mike has navigated markets for decades and his work on passive is second to none.

This is a must-listen conversation with one of the best in the business.

TIMESTAMPS:

0:00 - Caution on AI bull market
2:57 - AI's real value
5:38 - Nvidia's vendor financing
7:47 - The China threat
9:39 - Should investors sit out?
11:29 - Passive investing risks
13:17 - Are stocks actually cheap?
15:57 - 1987 crash parallels
19:17 - Are markets broken?
24:08 - Passive flows and leverage
26:10 - Can regulators step in?
28:21 - Building a new portfolio today
32:09 - Inflation vs. deflation
36:35 - US economic opportunity
42:32 - Mike's new book

[Phil Rosen @philrosenn]

@mike_h1990 🙏🏽🙏🏽🙏🏽

[Phil Rosen @philrosenn]

@mike_h1990 That will likely turn out true

[Phil Rosen @philrosenn]

Micron, SK Hynix and Samsung have all entered a bear market down more than 20% from recent highs.

But AI memory stocks have rallied so hard that they are still up +140% this year even with the sell off.

I doubt this marks a lasting reversal for memory.

$MU $EWY $DRAM

[Phil Rosen @philrosenn]

@APompliano 🔥🔥

[Phil Rosen @philrosenn]

Spotify: https://t.co/b4rbeXcpoZ

[Phil Rosen @philrosenn]

AI is driving a generational bull run but stock pickers can still win out with under-the-radar investments.

I sat down with @LouBasenese to discuss his highest-conviction ideas that most investors have never heard of.

We also unpack whether it's time to take profits on the AI trade and the most compelling bear case right now.

Lou's latest stock picks will surprise you.

TIMESTAMPS:

0:00 - Buying the dip on chips
2:47 - The AI bear case
4:43 - Trimming profits
5:29 - Crowded trades
6:30 - TeraWulf $WULF
10:59 - Navan $NAVN
12:57 - Gain Therapeutics $GANX
15:19 - Biotech acquisition targets
17:35 - How to find obscure stocks
20:31 - Position sizing
21:44 - Follow Lou

[Phil Rosen @philrosenn]

@LouBasenese 🎯🎯🎯

[Phil Rosen @philrosenn]

@LouBasenese @ReadOpeningBell Thanks Lou for the conversation!

[Phil Rosen @philrosenn]

@mike_h1990 Thanks Mike!

[Phil Rosen @philrosenn]

The S&P 500 is cheaper today than it was at the start of the year even though the index has gained 10%.

Forward P/E dropped to 20.4x from 22.2x six months ago.

Hard to argue there's a bubble when the entire market is getting more attractive from a valuation standpoint.