Full Signal

Phil Rosen

Unpacking the highest-conviction investment ideas from the world's smartest investors.

Award-winning journalist and market strategist Phil Rosen hosts top portfolio managers, capital allocators and Wall Street executives to uncover how they think about markets, pick stocks, manage risk and generate investment ideas. Phil is the Chief Market Strategist at ProCap Financial and the co-founder & CEO of Opening Bell Media. His daily markets newsletter reaches more than 200,000 investors every morning.

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Wednesday · 37 min
He turned $6K to $400K: Gen Z investors ditch stocks for GAMBLING!?
Jack Raines is the author of "Young Money: A Field Guide to Wealth and Purpose in Your Twenties." He joins Phil Rosen on Full Signal to discuss why young people should spend more and invest less, the pull of sports betting and prediction markets on Gen Z, how he turned $6,000 into $400,000 trading SPACs, and why housing costs sit underneath most of this generation's anxiety. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Invest less, spend more 2:44 - Retirement vs. cheap thrills 3:36 - Increase income, not savings 5:49 - Can young people afford anything? 8:33 - Sports betting 11:30 - Prediction markets 12:03 - Stage-specificity of life 18:15 - Boring investing for Gen Z 21:08 - Comparing yourself to outlier winners 23:04 - Status games 26:55 - Trading SPACs 34:23 - Young Money
Tuesday · 24 min
Veteran Strategist: The ETFs that WIN inside an AI portfolio
Bilal Little is a global ETF strategist at Direxion and the host of the ETF Central podcast for the New York Stock Exchange. He joins Phil Rosen on Full Signal to discuss why the market is mispricing the cost of capital, how leveraged and inverse ETFs are actually meant to be traded, and where he sees the most compelling opportunities right now.Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - What the market is mispricing2:24 - Macro data vs AI4:41 - Jobs data6:05 - Shift to thematic investing8:30 - Income ETFs11:48 - Leverage15:19 - Risk appetite 17:28 - Building portfolios20:54 - Most compelling opportunities23:03 - Follow Bilal
August 20 · 34 min
BlackRock Investment Chief: The stocks that WIN the next decade of AI
Jay Jacobs is the US head of equity ETFs at BlackRock. He joins Phil Rosen on Full Signal to discuss the three layers of the AI trade, whether the data center buildout echoes the dot-com overbuild, the physical choke points that could throttle AI, and why healthcare may be the most overlooked way to own the theme. TIMESTAMPS: 0:00 - Tech valuations declining 2:00 - 3 layers of AI 5:26 - Runway for the physical layer 7:46 - Another dot-com overbuild? 9:17 - Power constraint 11:15 - Indium, an AI choke point 14:52 -Risks in AI portfolios 16:05 - Why thematic funds beat sectors 19:25 - Defense stocks 22:10 - Healthcare 25:17 - Commodities 26:25 - Robotics 27:19 - Bitcoin at BlackRock 30:58 - Highest-conviction themes 32:57 - Why not financials? 33:53 - Follow Jay
August 19 · 36 min
Macro Strategist: 7 stocks to BUY before the AI trade is OVER
Jack Farley is the co-founder of Monetary Matters Network and he recently launched Farley Associated Research, an investment Substack with its own model portfolio. He joins Phil Rosen on Full Signal to discuss why the AI capex boom still has room to run, his highest-conviction semiconductor pick, the case for silver over gold, and the stocks he is shorting right now and his macro outlook through 2027. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - Bull market's 5th year? 3:30 - Hyperscaler capex 5:04 - Free cash flow concerns 6:47 - AI pricing power 9:43 - Semiconductor pricing power 11:59 - Favorite sectors 14:02 - Lam Research 18:13 - Could China crash memory? 20:37 - Short ideas 22:09 - Silver bull case 26:11 - Macro risks 27:55 - Jack's model portfolio 28:54 - Texas Pacific Land 30:28 - Sulfur stock idea 32:24 - Korean memory stocks 34:57 - Shorting Meta 35:52 - Follow Jack #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed
August 18 · 36 min
Top Investment Chief: 3 sectors to BUY for the NEXT AI bull rally!
Ryan Detrick is the chief market strategist at Carson Group, where he helps manage more than $8 billion and has kept the firm overweight equities for over three years. He joins Phil Rosen for the 100th episode of Full Signal to discuss his S&P 500 outlook, why banks are breaking out, the sectors he likes best, and the bearish signals no one else is watching. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS: 0:00 - S&P 500 outlook 3:42 - Seasonality 7:32 - Advance-decline line 9:20 - Financials and banks 11:54 - Cyclicals for the second half 14:44 - Gold, bonds and managed futures 16:25 - Industrials 17:36 - Financials 19:33 - Tech stocks 21:48 - $1 trillion capex debate 23:56 - Secular bull case 24:47 - Europe and Japan 27:03 - The bear case with the US dollar 28:32 - Staples stocks falling 31:43 - Fed outlook 33:27 - 3 contrarian calls 34:55 - Follow Ryan
August 13 · 34 min
Top Investment Chief: 7 stocks to BUY for the AI SUPERCYCLE
Kenny Polcari is chief market strategist at SlateStone Wealth, an independent wealth advisor. He joins Phil Rosen on Full Signal to discuss why he thinks the AI cycle is still early, the risk of circular dealmaking, how the Iran conflict runs from oil to stock valuations, and the specific stocks he owns right now. This episode is sponsored by Harbor Capital Advisors: https://www.harborcapital.com/suite/ai-labs/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Early innings of AI 2:26 - Circular AI economy 7:23 - $5 trillion ROI question 8:22 - Iran, oil and inflation 14:34 - What clients are worried about 15:34 - September weakness 17:59 - What would break the bull case 18:52 - What pushes yields higher 20:02 - Favorite sectors and names 21:30 - Cybersecurity 22:56 - JPMorgan 26:10 - Microsoft 28:55 - Verizon 30:34 - ASML 31:47 - NVDA 33:28 - Follow Kenny #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed
August 12 · 42 min
ELITE Macro investor: How to invest as the AI BUBBLE POPS
Bob Elliott is the CEO and chief investment officer of Unlimited Funds, where he deploys hedge fund strategies into low-cost ETFs. He also authors the Nonconsensus Substack. He joins Phil Rosen on Full Signal to discuss why AI earnings expectations are detached from macro reality, the gap between $5 trillion of capex and $150 billion of AI revenue, how households are propping up corporate margins, and where he sees value beyond the AI trade. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ TIMESTAMPS 0:00 - Market as house of cards 4:57 - Where is the AI productivity? 6:26 - Wall Street's backwards math 8:34 - $5 trillion capex 10:54 - Why earnings still look strong 13:31 - Circular deals 15:32 - AI's real economy problem 19:02 - Rotation out of tech 21:03 - AI capex is 2% of GDP 24:45 - Kalecki equation 26:06 - Chip demand 28:28 - Investing beyond AI 31:59 - TIPS 33:10 - Gold 38:28 - Leverage 40:16 - Unlimited's hedge fund ETFs #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed
August 11 · 27 min
Wall Street Insider: 3 stocks to buy that go BEYOND the AI trade!
Josh Schafer is an investment writer for Barron's, where he writes the Searching for Signals newsletter on Substack. He joins Phil Rosen on Full Signal to discuss the historic run in S&P 500 earnings revisions, Alphabet and Amazon going free cash flow negative, risks to Meta, and a handful of his favorite under-the-radar stock picks. Subscribe to Josh Schafer's investing newsletter: https://searchingforsignals.substack.com/ Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Historic earnings 3:33 - Expectations too high? 6:20 - Alphabet and Amazon burning cash 11:08 - Rotation into hyperscalers 12:00 - Meta looks bearish 15:11 - Picking software stocks 17:00 - Cybersecurity 17:59 - SpaceX supplier stock 20:09 - AI publishing and licensing stock 21:31 - Movie theater comeback stock 26:56 - Searching for Signals #podcast #investing #markets #macro #stocks #bitcoin #fed
August 6 · 38 min
Top Investment Chief: 2 sectors to BUY as the AI boom fails Wall Street!
Steve Sosnick is the chief strategist at Interactive Brokers, where he has spent three decades since the firm's options market-making days. He joins Phil Rosen on Full Signal to discuss the liquidity drain lurking beneath record highs, whether the massive AI capex bet pays off, value stocks crushing growth, his favorite sectors right now, and what the VIX is signaling. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - New highs, new risks 5:26 - Fundamentals vs. exuberance 6:58 - Hyperscalers are back 10:21 - Momentum, FOMO, and technicals 13:10 - ROI on AI capex 17:05 - AI ecosystem trade 19:35 - Value vs. growth stocks 24:06 - Healthcare and industrials 27:57 - VIX isn't a fear gauge 29:27 - Correlation and dispersion 32:36 - Stock picker's market 34:41 - Follow Steve #podcast #investing #markets #macro #stocks #bitcoin #fed
August 4 · 25 min
Veteran Investor: 6 Stocks to BUY NOW as Big Tech burns BILLIONS
Lou Basenese is a veteran market strategist and the founder of The Big Skinny. He joins Phil Rosen on Full Signal to discuss Magnificent 7 free cash flow, why Amazon and Eli Lilly look compelling, under-the-radar biotech stock picks and a tactical trade on oil refiners. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Mag 7 free cash flow 1:06 - Amazon fundamentals 2:50 - Is Apple too expensive? 4:33 - Biotech stock picks 6:11 - Eli Lilly 8:21 - Big Pharma's acquisition spree 10:36 - Viking Therapeutics 12:36 - GLP-1s go mainstream 17:11 - Nvidia and Google 18:06 - Coya Therapeutics 20:17 - Refiner trade 24:53 - Follow Lou[5:00 PM] #podcast #investing #tech #markets #macro #stocks #bitcoin #fed
July 30 · 36 min
Top Investment Strategist: 3 sectors BEAT the S&P 500 as the AI trade unwinds!
Todd Sohn is the chief ETF strategist at Strategas Asset Management. He joins Phil Rosen to discuss the semiconductor bear market, his three favorite sectors in the market right now, the rise of leveraged products, and comparisons to dot-com bubble. Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Semi sell off 1:21 - Nobody throwing in the towel 3:01 - Is this time different? 4:14 - Leveraged ETFs 10:20 - Beta vs. volatility 12:10 - Equal weight beating cap weight 13:30 - Low volatility ETFs 16:49 - Why diversification matters again 18:22 - Where we are in AI cycle 20:14 - Trump as a wildcard 22:06 - What stops dip buying? 24:11 - Healthcare 26:19 - Energy 29:02 - Financials 33:19 - Small caps 35:57 - Follow Todd #podcast #investing #markets #macro #stocks #bitcoin #tech #fed
July 28 · 23 min
Anthony Pompliano: How to invest in the AI-bitcoin SUPERCYCLE
Anthony Pompliano is the CEO of ProCap Financial, the public company behind the AI personal finance product CFO Silvia. He joins Phil Rosen on Full Signal to discuss the outlook for frontier AI models, Chinese open-source models, bitcoin as the pair trade to abundant intelligence, and running a company with a stock that's down 80%. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - AI fat model thesis 2:34 - US vs. Chinese AI models 5:24 - AI economics and costs 7:17 - DeepSeek and the price war 9:24 - Bitcoin as an AI play 11:38 - Why AI is deflationary 13:11 - Federal Reserve outlook 14:36 - The impossible comeback 20:02 - Specialized vs. general-purpose models 22:27 - CFO Silvia #podcast #investing #markets #macro #stocks #bitcoin #fed
July 23 · 42 min
Veteran Investor: 3 sectors to buy BEFORE the MARKET CRASH
Michael Gayed is a veteran portfolio manager who runs funds including the Free Markets ETF (FMKT), and is the founder of The Lead-Lag Report. He joins Phil Rosen on Full Signal to discuss why policymakers may crash stocks to save bonds, the Japan carry trade, where the real AI bubble is, and why small caps hold the key to what comes next. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Crash stocks to save bonds 4:34 - Japan carry trade 7:02 - Oil, yen, and Japan risk 12:05 - Fund positioning 14:51 - AI driving unemployment 17:29 - Capex and the AI bubble 19:33 - Small caps 23:04 - Rate cut before hike 23:52 - Lumber-to-gold ratio 27:40 - Most credible bull case 30:50 - Favorite sectors 33:09 - Debunking Fear-Greed index 35:59 - Semiconductor and memory trade 37:16 - What we'll be wrong about 38:49 - Eli Lilly and obesity drugs 41:44 - Follow Michael #podcast #investing #markets #macro #stocks #bitcoin #fed
July 22 · 31 min
Top Investment Chief: How to WIN the AI trade this decade
Sylvia Jablonski is the chief investment officer of Defiance ETFs. She joins Phil Rosen on Full Signal to discuss where capital is flowing in the AI trade, whether quantum computing is still too early to invest in, themes in defense investing, and how leveraged ETFs really work. Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Hottest sectors to buy 3:13 - Where capital is leaving 4:51 - AI bubble debate 6:45 - Can earnings beat expectations? 7:45 - The next AI trade 11:08 - Too early for quantum? 16:22 - Defense investing 18:10 - Highest-conviction theme 19:52 - When themes run their course 21:17 - Leveraged ETFs 29:30 - Popping the bubble debate 31:17 - Follow Sylvia #podcast #investing #markets #macro #stocks #bitcoin #fed
July 21 · 40 min
Top Investment Strategist: These stocks WIN even if AI CRASHES!
Jay Woods is the chief market strategist for Freedom Capital Markets and a CNBC contributor who has spent three decades on the floor of the New York Stock Exchange. He joins Phil Rosen on Full Signal to discuss whether the S&P 500 hits 7,000 or 8,000 first, why price momentum is fading despite blowout earnings, his favorite stocks across biotech and regional banks, and how his strategy for picking winning investments. Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - The S&P 500's next leg 0:58 - Great earnings, weak momentum 6:22 - A bubble in expectations 7:13 - Rotation to boring stocks 8:36 - Retire the Mag 7 12:26 - One tech stock to buy 14:23 - Three biotech stock picks 17:16 - How to pick stocks 19:29 - Top-down sector analysis 21:20 - Regional bank ideas 24:55 - Insurance stocks 29:39 - Summer seasonality 32:12 - Are charts just astrology? 34:45 - Selling access to Trump's posts 39:05 - Follow Jay's work #podcast #investing #markets #macro #stocks #bitcoin #fed
July 16 · 44 min
Macro Strategist: 3 stocks to BUY as leverage hits the AI trade
Jack Farley is a macro expert and the co-founder of the Monetary Matters Network. He joins Phil Rosen on Full Signal to discuss the semiconductor sell-off, the strongest bear case against AI, blowout bank earnings, the specific stocks he's buying right now, and how he'd allocate a $100,000 portfolio today. Today's episode is sponsored by Direxion: https://shorturl.at/EBirr Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Semiconductor bear market 1:19 - Leverage unwinding the rally 2:32 - Crowded AI trade 4:13 - Broadcom, Marvell 6:36 - Intel skepticism 8:07 - Michael Burry's bear case 10:44 - AI's subsidized economics 12:40 - Tokenmaxxing 15:05 - AI economics 18:17 - Rotating into software 19:19 - IBM's worst day ever 23:13 - Blowout bank earnings 25:34 - Stablecoins outlook 27:36 - Lam Research 32:16 - Texas Pacific Land 34:51 - S&P Global 37:08 - Building a $100,000 portfolio 44:34 - Follow Jack #podcast #investing #markets #macro #stocks #bitcoin #fed
July 15 · 41 min
Top Quant: 2 stocks WIN as the AI boom accelerates
Dr. Steve Hou is a veteran quantitative analyst and the head of research at Silicon Data. He joins Phil Rosen on Full Signal to discuss the economics driving the AI boom, compute markets, the pricing power across Nvidia, Anthropic and OpenAI, comparisons to dot-com, and specific stock picks for the next leg of the bull market. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Compute demand 1:07 - Token expenditure index 9:34 - Subsidized AI tokens 11:10 - GPU rental rates 15:02 - AI basic use cases 17:26 - Who holds AI pricing power 20:12 - Token economics and AI profits 22:53 - Software stocks opportunity 28:13 - Boring quality compounders 33:08 - DeepSeek effect 36:15 - Inside Silicon Data 39:12 - Bubble or baby bubble? #podcast #investing #markets #macro #stocks #bitcoin #fed
July 14 · 38 min
Top Investment Strategist: 9 stocks to BEAT the S&P 500 in the AI boom!
Jessica Inskip is the director of research for StockBrokers.com and a leading financial commentator. She joins Phil Rosen on Full Signal to discuss the AI CapEx boom and earnings outlook, the interconnectivity theme reshaping financial markets, specific stocks she likes right now, trading options for income, and how she would build a new portfolio from scratch today Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Earnings expectations 2:59 - CapEx as recession signal 7:36 - Earnings vs. bubble fears 8:24 - Big Tech getting cheaper 9:40 - 2-year note warnings 12:21 - Contrarian bull case 14:33 - ROI on $1 trillion Capex 16:41 - Interconnectivity theme 20:09 - Robinhood, Circle, Coinbase, ICE 24:12 - Options for income 27:15 - Oracle, Palantir, Micron 28:42 - Building a new portfolio 32:21 - Liquidity blind spot 37:06 - Follow Jess #podcast #investing #markets #macro #stocks #bitcoin #fed
July 9 · 40 min
Top Investment Strategist: Wall Street is WRONG about AI stocks!
Julia Hermann is a global market strategist at New York Life Investments, where she helps shape the firm's multi-asset market outlook. She joins Phil Rosen on Full Signal to discuss her contrarian view on the Fed, the memory stock sell-off, parallels between the AI buildout and the dot-com era, and why financials look undervalued right now. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ Timestamps: 0:00 - Geopolitics noise and signal 2:31 - Fed outlook 4:34 - Rate cut odds 6:11 - Memory stocks in bear market 9:07 - Diversification and quality 12:08 - The narrowing path for markets 15:12 - US vs. world 17:35 - Japan carry trade 20:58 - Sell America 23:58 - Dot-com parallels 29:15 - Infrastructure boom framework 34:30 - Bullish financials 37:16 - What consensus gets wrong 39:17 - Julia's research #podcast #investing #markets #macro #stocks #bitcoin #fed
July 8 · 43 min
Mike Green: AI is fueling another 1987 market CRASH!
Michael Green is the chief strategist and portfolio manager at Simplify Asset Management, and authors the Substack called "Yes I give a Fig." He joins Phil Rosen on Full Signal to discuss hidden risks of the AI boom, how passive investing is bidding up the AI bubble, why he's bullish on new technology but cautious on its impact for investors, and more. Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe Follow Phil on X: https://x.com/philrosenn Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/ 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 - American economic opportunity 42:32 - Mike's new book #podcast #investing #markets #macro #stocks #bitcoin #fed

Showing 1–20 of 26 episodes