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Exponential Learning

The Team

Humans can absorb multiples more audio content than written. To that end, this podcast is for absorbing as much intelligence as possible as the catch-all for interesting articles, research reports, or podcast summaries. I hope you enjoy the knowledge as much as we do.

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  • 48 episodes
  • Avg 13 min
  • English

Episodes 48

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  • Friday · 14 min

    Bad Moon Rising: Wedgewood Partners Q3 2026 Letter

    Alex and Jordan break down Wedgewood Partners' Q3 client letter — record highs over the worst breadth in decades, Microsoft's 30% ROIC, and shopping for compounders under a bad moon.

  • Friday · 14 min

    Real Interest Rate Shock: The Next Shoe to Drop

    Alex and Jordan break down Alpine Macro's new special report — why the bond selloff is about real rates, not inflation, and why risk asset prices may be the next shoe to drop.

  • #1
    Thursday · 54 min

    Invest in the Shortages & Bottlenecks: Ai & Power

    The Compute Paradox: The Stocks That Win When Models Get Cheap — podcast summary The thesis: the cheaper AI models get and the more their margins compress, the more gets spent on physical hardware. Lower software profits plus open-weight fragmentation equals explosive hardware demand. Three old narratives are wrong: the software oligopoly doesn't win everything, compute spend isn't a debt bubble, and compute prices aren't crashing — compute is heavily constrained with bids rising toward $100/watt. We're structurally short on watts, wafers, and capital, which makes the buildout slower and smoother for longer. Three independent passes — the paradox framework, a beneficiary screen, and the Alpha Brands AI Bottleneck Portfolio — all converged on the same 13 stocks across six areas: Power & Grid, Foundry & Equipment, Compute Silicon, Memory, and Generation. The stocks, by area: Power & Grid + Generation: GE Vernova (gas turbines and grid equipment), Siemens Energy (turbines and transmission), Schneider Electric (data-center power distribution), Vertiv (liquid cooling and in-hall power), Eaton (power management and electrical gear), Quanta Services (builds the power grid), Constellation Energy (largest US nuclear fleet), Vistra (merchant gas and nuclear in Texas and PJM). Foundry & Equipment: TSMC (every leading-edge AI chip runs through its fabs), ASML (the only maker of EUV lithography machines). Compute Silicon: NVIDIA (the volume winner of the buildout), Broadcom (custom AI accelerators — the fragmentation beneficiary). Memory: Micron (the American high-bandwidth-memory supplier). The close: a three-legged thesis — AI physical infrastructure, consumer moats, and government/utility spending beneficiaries. Eight of the thirteen are already LOGO holdings (TSMC, NVIDIA, GE Vernova, Siemens Energy, ASML, Broadcom, Eaton, Quanta); Schneider Electric, Vertiv, Micron, Constellation, and Vistra are the watchlist. For discussion purposes only — not a recommendation to buy or sell any security. You:

  • Thursday · 22 min

    Operating Kings × Brand Heat: The Blended Top 20 (Corrected)

    Twenty consumer brands ranked 50/50: quality-screen percentiles plus a pure consumer brand-heat score — recognition, cultural heat, love, relevance, demand. Corrected ranking: brand heat is how hot the brand is to consumers, nothing about multiples.

  • Thursday · 7 min

    BlackRock & Morgan Stanley: Toll Collectors on the AI Buildout

    Alex and Jordan deep-dive Q3 2026 earnings: BlackRock's record $15.5T AUM and 11% organic fee growth, Morgan Stanley's record wealth flows and 41% equities surge — and why both stocks lagging their fundamentals is the opportunity.

  • Thursday · 5 min

    Holiday Shopping 2026: The Retailers With Real Brand Heat

    Alex and Jordan run through the retailers best positioned for holiday 2026 — from e.l.f. Beauty's viral momentum and Abercrombie's teen heat to Ross's traffic machine, Target's turnaround, and Coach's Gen Z moment — plus the tariff-refund margin caveat.

  • Thursday · 6 min

    Fast Retailing: The Uniqlo Engine — 88% of Everything

    Alex and Jordan break down Fast Retailing's fifth straight record year: how much of the business is really Uniqlo, the geographic handoff from China to the West, elite operating metrics, a 40x valuation, and whether the stock's bull trend holds.

  • Wednesday · 6 min

    Accenture Investor Day 2026: The AI Services Playbook

    Alex and Jordan break down Accenture's first investor day in four years: the FY27-29 growth and margin plan, the AI right-to-win case, a 39% valuation discount to history, and the Buy-rated path to a re-rating.

  • Wednesday · 17 min

    ASML Q3 2026: Lithography and the AI Capex Engine

    ASML posted a record Q3 2026: 11.66B euros in sales, 57.5% gross margin, and its third guidance raise of the year. Alex and Jordan break down the quarter, the capacity crunch, China, and what it means for AI capex.

  • Wednesday · 13 min

    Earnings reports: Banks

    Alex and Jordan deep-dive Q3 2026 earnings from all seven big banks: the unanimous verdict on the consumer, benign credit, and AI as Wall Street's revenue engine — and its newest risk.

Showing 21–40 of 48 episodes