RiskReversal Pod
The RiskReversal Pod features Dan Nathan and Guy Adami in conversation with leading experts in markets and technology. They analyze key market-moving headlines to help listeners make more informed investment decisions. The show aims to deconstruct financial jargon and provide contrarian perspectives and strategies for navigating volatile markets.
Episodes
Deirdre Bosa: The AI Model Race Is Over. It’s a Product War Now
Dan Nathan welcomes Deirdre Bosa to the Okay, Computer podcast to discuss her upcoming daily Yahoo Finance show, “Deirdre Bosa Live,” launching November 9 and airing weekdays 1–2 PM PT. They dig into how Microsoft has shifted Copilot toward a model-agnostic approach—routing tasks to the most cost-effective models amid open-source commoditization—while also launching its Maia 300 custom AI chip to
Shaking The Leaves Off The Money Tree | Investopedia x RiskReversal
CHECKOUT CALEB'S SUBSTACK: investopedia.substack.com/t/caleb-silvers-signal
It’s the most critical week of the year as investors face a wave of earnings reports and the latest inflation reading with bond yields and oil prices pushing higher. Risk Reversal’s Dan Nathan drops in with what to watch and listen for as the stock market inches higher on weak breadth and hopes that there are still leaves
If Not Now, Then When Will These AI Companies Go Public?
Dan Nathan and Guy Adami reunite to preview the week, focusing on two late-week tech stories: a Nikkei report that Apple may have cut iPhone 18/18 Pro component orders, and market volatility sparked by questions around OpenAI’s revenue figures, including debate over annual run-rate calculations and implications for AI-linked stocks and “NeoCloud” customers. They discuss a macro backdrop of a 10-ye
Bond Market Dominoes: The Path to 6% Rates with Peter Boockvar
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Trading From The Short Side with Danny Moses, Vincent Daniel & Porter Collins
Go follow the 'What Are We Doing' Substack: https://whatarewedoingonthedesk.substack.com/
LIVE from the HOOD Summit in Houston: Dan Nathan hosts as the guys walk through the short seller's checklist: short interest, valuation, cost to borrow and, most importantly, a real catalyst. They explain why shorting is so much harder than it looks and how they manage risk by pressing into rallies and cover
Consumers Feel Awful But Keep Spending with Mastercard's Chief Economist Michelle Meyer
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami welcomes back Michelle Meyer, Chief Economist at Mastercard, to dig into what Mastercard's data is saying about the American consumer heading into the holiday season. With mortgage rates above 7% and sentiment surveys still gloomy, Michelle explains why spending keeps holding up. The answer is a healt
Record Highs, 5% Yields... Something Has To Give w/ “The Big Short” Crew & Robinhood’s Steph Guild
Live from the HOOD Summit in Houston, Guy & Dan sit down with Robinhood's Steph Guild, Porter Collins, Vincent Daniel to make sense of a market sitting near record highs despite a war, $95 oil and a 10-year yield pushing past 5%. The panel digs into horrific market breadth and the passive flows propping up a handful of mega-caps. They discuss why private credit may be the canary in the coal mine f
Anthony Scaramucci at Hunt & Fish Club Restaurant | Standing Table Podcast Episode #1
Tonight we're at Hunt and Fish Club talking with Anthony Scaramucci. Most people know him for his famous two weeks in the Trump White House, but he's so much more than that.
He's the founder of SkyBridge Capital, a fixture on Wall Street, and one of New York's most resilient comeback stories. In 2015, he co-founded Hunt and Fish Club, a tribute to 1960s New York and old-school hospitality.
List
Rick Heitzmann at Manhatta | Standing Table Podcast Episode #2
Today we're doing lunch at Manhatta, towering 60 stories above the financial district. Joining us is Rick Heitzmann, co-founder and partner at one of New York's most influential early stage venture firms, First Mark Capital.
Rick has been early to some of the most category defining companies of the last decade, backing names like Pinterest, Airbnb, and DraftKings. That foresight has landed
U.S. Bonds Are Trading Like an Emerging Market with Liz Thomas
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami and Liz Thomas discuss historic moves in U.S. Treasuries, with yields jumping 20 bps in two days, the 5-year above 5%, and the average Treasury yield above 5%, signaling a new inflationary regime and forcing investors to rethink allocations. Despite higher discount rates, stocks have held up due to a
Jim Chanos & Gary Marcus: Circular AI Financing, The Agentic Economy & Doomsday Scenarios
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
The AI Trying to Replace Your Financial Advisor with Fahad Hassan and David Cusatis
Dan Nathan sits down with Fahad Hassan and David Cusatis, co-founders of Range, an AI-native wealth management platform that just crossed $1 billion in assets under management. Fahad and David built Range without any traditional finance background, starting from a simple frustration: the old 1% AUM model is expensive, opaque, and hasn't changed in 100 years.
We get into Range's AI agent, Rai, whi
Dan Niles: This Isn't the Top, It's a Speed Bump
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
David Rosenberg: "The Fed Just Made a Policy Mistake"
TRY NOW: Rosenberg Research Free Trial
Dan Nathan and Guy Adami welcome David Rosenberg of Rosenberg Research to discuss his new global macro multi-asset ETF, ROSY, built from his conviction-based model portfolio and launched with Corton Capital, with plans to list in the U.S. in Q1, and preview his upcoming October book, “Bear In The Bull Ring.” The conversation then turns to Fed Chair Kevin War
Danny Moses: Debt, Gold & the Fed... What's Really Driving Markets?
Checkout the WAWD Substack: https://whatarewedoingonthedesk.substack.com/
Watch Danny's Interview with Cameron Dawson: https://www.youtube.com/watch?v=zh-wizTNeC0
Guy hosts Danny Moses on the RiskReversal Podcast, recorded on September 11, and they discuss Japan as an epicenter for global markets as the Bank of Japan is expected to raise rates, highlighting Japan’s ability to sell over $1.2 tril
Gene Munster: iPhone Duo Will Be A Category Killer & Meta Muse Will End The Algo
Dan Nathan is joined by Gene Munster, Managing Partner at Deepwater Asset Management, for a deep dive into Apple's foldable iPhone Duo launch and what it means for AAPL — plus a broader tour through the week's biggest tech and AI stories: Meta's new agentic AI product Muse, Google's Gemini momentum, Tesla's Cyber Cab and what it means for Uber, and the AI safety debate sparked by a departing Anthr
Scott Bessent Is The House Now (Or So He Thinks) | MRKT Call
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Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Wednesday, September 9th.
Articles Mentioned
Checkout Rosenberg Research
Checkout The Boock Report
Bessent Dares Traders to Bet Agai
The Fed, Oil, and a Trade War With Canada Investors Aren't Pricing In
Dan Nathan and Guy Adami break down a wild week of macro data and single-stock news heading into the Fed's September meeting. They dig into the surprisingly strong August jobs report and what it means for a Fed already boxed in by political pressure on Kevin Warsh, why the VIX sitting near 14 might be dangerous complacency, and why the bond market's reaction to a potential rate hike could be total
Paul Kedrosky: Nvidia Is Now the AI Bubble's Single Point of Failure
Go checkout The Dick & Paul Show on YouTube
Dan Nathan interviews Paul Kedrosky about the AI-driven surge in non-residential fixed investment and why today’s data-center buildout resembles prior overbuild cycles like railroads and fiber. Kedrosky argues the current moment is unusually risky because it combines technology hype, loose credit, government-policy urgency, and real-estate speculation (
Fixing Wall Street's AI Problem with Phill Rosen, CEO of Astraeus
Dan Nathan interviews Phill Rosen, CEO/CTO and co-founder of Astraeus, an AI infrastructure company for wealth management. Rosen recounts his path from college dropout to fintech builder, including Orchard Platform and Even Financial (later MoneyLion Engine), explaining how API-embedded distribution and machine-learning signals improved lending decisioning while navigating regulatory explainabilit
Wall Street Isn't Buying Kevin Warsh's Tough Talk
Guy Adami and Dan Nathan open by recounting a fan’s Guy-themed T-shirt sighting on CNBC’s Fast Money, then discuss Fed Chair Kevin Warsh’s Jackson Hole remarks as largely status quo, with the S&P 500 near all-time highs and the VIX around 14 despite potential catalysts like the August jobs report. They argue markets appear complacent ahead of midterms and cite historical midterm drawdowns, while n
Imran Khan Isn't Worried About Nvidia's "Circular" Deals
This episode is sponsored by Fidelity Investments and the all-new Fidelity Trader+ platform. Try Fidelity’s most powerful trading experience yet: https://www.fidelity.com/investing/trading-platforms
Fidelity Investments and Risk Reversal are not affiliated. Views, opinions, products, services, and strategies discussed are not endorsed or promoted by Fidelity Investments. Fidelity products or serv
Deus Ex Machine, AI & Data with FirstMark's Matt Turck
Dan Nathan sits down with Matt Turck, Managing Director at First Mark Capital and creator of the annual MAD (Machine Learning, AI & Data) Landscape, for a wide-ranging look at where AI investing stands right now. They cover the power-law dynamics driving venture dollars to a handful of companies, why Nvidia is starting to look like "the bank" of the AI industry, Anthropic's surge past $65 billion
Danny Moses: How Scott Bessent Just Tied the Fed's Hands
Danny Nathan and Danny Moses discuss recent Treasury Secretary Bessent comments and plans to increase long-dated Treasury buybacks, arguing the amounts are largely signaling, yields quickly reverted, and the move effectively constrains Fed Chair Warsh ahead of Jackson Hole and a potential September hike. They connect rising yields, debt/deficits, inflation pressures, dollar/yen dynamics, and Bank
Ex-Twitter CEO gave Musk the Bird, 01A AI investments & IPO Landscape
WATCH 'The Dick & Paul Show' on YouTube: https://youtu.be/LtLBhBp5T40
This episode is sponsored by Fidelity Investments and the all-new Fidelity Trader+ platform.
Try Fidelity’s most powerful trading experience yet: https://Fidelity.com/TraderPlus
Fidelity Investments and MRKT Call are not affiliated. Views, opinions, products, services, and strategies discussed are not endorsed or promoted by
The AI Price War Nobody Saw Coming with FirstMark's David Waltcher
Dan Nathan hosts FirstMark Capital partner David Waltcher at the firm’s HQ to discuss Waltcher ’s path from an Accel internship to investing in enterprise software, security, and AI. They compare the consumer-to-SaaS shift, the post-2021 “SaaSpocalypse,” and how public markets can overreact to AI narratives, using Salesforce as a system-of-record case study. Waltcher argues many incumbents will p
Peter Boockvar: Inflation Is The Core Disease
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Checkout The Boock Report: https://boockreport.com/about/
Dan Nathan and Guy Adami are joined by Peter Boockvar, CIO at OnePoint BFG Wealth Partners, to unpack recent inflation data and why yields remain resilient, with the curve steepening as the two-year dips while the 10-year holds around 4.65%. Boockv
Vincent Daniel: AI Buildout Credit Risks Are a Feature, Not a Bug
Checkout the WAWD Substack: https://whatarewedoingonthedesk.substack.com/
Dan Nathan welcomes Vincent Daniel, partner at Seawolf Capital and one of the investors who called the 2008 housing crash, for a deep dive into where markets stand heading into year-end. They break down new Fed chair nominee Kevin Warsh's "immaculate economy" problem, why passive fund flows are quietly the most powerful for
Sonali Basak: Building “The Bridge” Investors Can Walk Across
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Checkout WAWD on Substack: https://whatarewedoingonthedesk.substack.com/OTT
Sonali joins the podcast on the one-year anniversary of moving from Bloomberg to iCapital, discussing her media series “The Bridge” and iCapital’s reach across wealth and asset managers. The conversatio
Nvidia's Backstop Deal Just Made Every Bank a Bag Holder
Dan Nathan and Guy Adami dig into the biggest story in markets: Nvidia's roundtable with Wall Street's top financiers — Jensen Huang, David Solomon, Jon Gray, and Stephen Schwarzman — and the multi-hundred-billion-dollar backstop deal getting compared to a modern-day CDO. Dan lays out why he thinks this AI CapEx build could make the dot-com bust and the GFC look tame, walks through Nvidia's doubli
AI Is Rewiring Retail Investing with Jim Swartwout & Jay Jacobs
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami speaks with Jim Swartwout, CEO of Prosperum Fintech Holdings about Swartwout's four-decade career across Schwab, Fidelity, E-Trade, TradeMonster, Scottrade, Robinhood, and more, and what it reveals about the evolution of retail investing. Swartwout argues retail is in a “golden age” driven by better d
Mike Wilson: The AI Trade Has a Breaking Point, We're Just Nowhere Near It
This episode is sponsored by Fidelity Investments and the all-new Fidelity Trader+ platform.Try Fidelity’s most powerful trading experience yet: https://www.fidelity.com/trading/trading-platforms?immid=100734&imm_pid=428905629&imm_aid=a&dfid=&buf=99999999
Views, opinions, products, services, and strategies discussed are notendorsed or promoted by Fidelity Investments. Fidelity BrokerageServices L
Nicole Kagan: Empowering Kalshi Through Research
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Checkout WAWD on Substack: https://whatarewedoingonthedesk.substack.com/OTT
On this week's podcast, Danny Moses speaks with Nicole Kagan, head of research at Kalshi, about her path from Bridgewater to Oxford and then to Kalshi to help build the contract-writing and research function
The AI "FOMO Feeding Frenzy" with Amish Jani of FirstMark Capital
Dan Nathan hosts Amish Jani, co-founder and partner at FirstMark Capital, to discuss his tech investing career and why AI represents the fastest, largest technological sea change he has seen. Jani argues historical comparisons break down as markets and capital needs have scaled, and that gen AI’s apparent “intelligence” has surprised even early researchers. They debate token optimization, enterpri
Bill Harris at The Dead Rabbit | Standing Table #8
In this episode we’re at The Dead Rabbit, grabbing a pint with serial entrepreneur and operator, Bill Harris, best known as an early CEO of PayPal.
Bill is a veteran FinTech executive who has also served as CEO of Intuit. He later founded Personal Capital, a digital wealth management firm that grew to manage billions in assets before being acquired - and he's now founder and CEO of Evergreen.ai,
Cracks Everywhere: Japanese Yen, AI Stocks & US Bonds
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami is joined by Peter Boockvar, CIO of OnePoint BFG Financial, to break down the growing cracks in the Bank of Japan's decades-long rate repression experiment and what a yen reversal could mean for global bond markets. They dig into the historic move in Treasury yields following Kevin Warsh's press
Warsh Out in Bonds + CME Group's Tim McCourt on Single Stock Futures
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Stablecoins, Tokenization & the Future of Banking with Adam Nelson of FirstMark Capital
Dan Nathan sits down with Adam Nelson, fintech-focused VC partner, to break down why stablecoins and tokenized real-world assets are set to reshape the financial system. They cover the GENIUS Act’s impact on regulatory clarity, why Circle’s net income now rivals major banks, how Visa and Mastercard are responding to the threat, and the rise of companies like Rain and Velocity building the infrastr
Danny Moses: Gold's Make or Break Moment is Here
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami and Danny Moses discuss rising global yields and stress points in markets, focusing on Japan’s weakening yen, deteriorating bond market, and risks around Japan’s role as a major US Treasury holder and potential carry-trade unwind, with BOJ and Fed meetings ahead. They note August’s tendency towar
Cameron Dawson: Change (In the House of AI)
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Rick Heitzmann: The Gray-Area Deals Funding the AI Buildout
Dan Nathan sits down with Rick Heitzmann, co-founder and partner at FirstMark Capital, to kick off a new Okay, Computer. series on AI investing. They dig into the circular financing behind the AI infrastructure boom — from Nvidia backstopping Apollo's private credit for xAI to Meta's off-balance-sheet data center deals with KKR and Blue Owl — plus the shift from "tokenmaxxing" to an efficiency era
Jeff Bell & Richard Betts at Please Don't Tell | Standing Table
Today we’re in the East Village, having cocktails at Please Don’t Tell - one of the most iconic cocktail bars in New York City.
PDT is currently run by award-winning bartender Jeff Bell. Jeff started as a bar back in 2010, and now he owns the place. How about that?
He joins us alongside Richard Betts. There are fewer than 300 Master Sommeliers in the entire world, and Richard was one of them. He
The AI Scarcity Myth Is Breaking
Dan Nathan and Guy Adami break down a wild week across markets — memory stocks in freefall, Google's brutal two-day selloff, and why China's AI models are closing the gap without top-tier Nvidia chips.
Micron cratered from its all-time high of $1,255 to $800 in a matter of weeks, and the DRAM ETF whipsawed right along with it. Guy and Dan dig into whether this is a routine flush or something bigg
Jim Chanos: The Math Ain’t Mathing for the AI Data Center Build
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Vincent Daniel & Porter Collins: How Seawolf (Capital) Navigates Choppy Markets
Checkout WAWD on Substack: https://whatarewedoingonthedesk.substack.com/OTT
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Danny Moses welcomes Porter Collins and Vincent Daniel back to the On The Tape podcast as Q2 earnings begin amid renewed inflation concerns, Middle East tensions, and continued AI-driven equity enthusiasm. T
The Parabolic Seven & The IBM Warning Sign with Ben Emons of FedWatch Advisors
Dan Nathan and Guy Adami host Ben Emons of FedWatch Advisors to discuss shifting Fed communication under Kevin Warsh, including a push away from strong forward guidance like recent comments from Waller. Emons distinguishes disinflation from deflation, noting a negative month-to-month CPI driven by energy declines but warning energy has already rebounded, making expectations volatile. He highlights
Second-Half Market Outlook & Playbook with Liz Thomas
Learn more about Astraeus Wealth Management: http://astraeuswealth.com/partner-with-us
Guy Adami and Liz Thomas discuss recent “momentum on, momentum off” volatility, with semiconductors swinging and earnings season starting with banks that have traded well despite a flattening yield curve. They debate rising long-term Treasury yields, arguing hikes aren’t appropriate in a slowing economy and ty
China Enters the Data Center, AI Profits Walk Out — with Louis-Vincent Gave & Peter Boockvar
Dan Nathan sits down with Peter Boockvar (CIO, One Point BFG Wealth Partners) and Louis-Vincent Gave (CEO, Gavekal) to break down the AI arms race, the dollar's structural decline, and where the smart money is rotating next.
They dig into China's "Toyota vs. Ferrari" AI strategy and why cheap, open-source models threaten to commoditize OpenAI and Anthropic's trillion-dollar valuations, the sustai
Patient Equity Capital is a Virtue
Dan Nathan and Guy Adami open the podcast by framing the day’s key market story as sharp weakness and heightened volatility in memory, chips, and semi equipment, citing rapid reversals in names like Micron and Applied Materials and opaque guidance from Samsung. They discuss whether the AI build-out is increasingly debt-funded—highlighting Amazon and Oracle debt issuance and private credit deals—an
Jenny Just & Matt Hulsizer at Ascend Innovation Summit | Standing Table
For today’s episode, we look back at our conversation with Jenny Just and Matt Hulsizer at Apex’s Ascend Innovation Summit.
Jenny and Matt are co-founders of PEAK6 Investments. In 2012, they purchased the company that became Apex and helped shape it into the successful fintech company we know today. Oh and get this - they aren’t just partners in business, they’re also partners in LIFE. Married si
David Rosenberg: "There Are No More Bears Left" In This Market
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Bull Markets Die on Euphoria. Are We Finally There?
Dan Nathan and Guy Adami break down a market caught in the late stages of euphoria. They dig into Micron's record-high run and the broader memory-stock mania—and ask the uncomfortable question of who's actually left to buy at these levels. With hyperscalers rolling over (Microsoft just posted its worst month since 2000) and Palantir cut in half, Dan and Guy debate whether this is a healthy rotatio
Gene Munster Believes It's Different This Time
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
James Lavish Gives Us His "Strategy" for Trading These Markets
Find James Lavish's SubStack Here: https://www.jameslavish.com/
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Checkout the WAWD Substack here: https://whatarewedoingonthedesk.substack.com/
In this episode of On the Tape, Danny Moses welcomes James Lavish back to the show for a wide-ranging conversation that goes well beyond Bi
Meet The VCs Digging for Gold in the Gutter with Dan Teran & James Gettinger
Dan Nathan and Guy Adami open by focusing on heightened volatility in the NASDAQ and semiconductors after the SOXX hit an all-time high then fell 7%, alongside a 10% overnight drop in South Korea’s KOSPI, raising concerns about a global snowball effect. They argue widening volatility bands, “meme stock” dynamics in names like Intel, heavy AI-related capital raising, higher rates, and data-center b
Ilir Sela at Grimaldi's Pizzeria | Standing Table #5
In New York, pizza is not just food - it’s part of the city’s DNA. And that story runs deep in Brooklyn where working class immigrant neighborhoods helped shape the pizza we know today. Grimaldi’s, sitting in the shadows of the Brooklyn Bridge, serves authentic, coal-fired brick oven pizza, sought out by tourists, locals and celebs like Ilir Sela, the founder and CEO of Slice.
As an Albanian rai
The "K is for Kroger" Economy + AI's China Problem with Danny Moses & Deirdre Bosa
Dan Nathan and Guy Adami host a special Risk Reversal episode with guest Danny Moses to discuss the latest Fed meeting under Kevin Warsh, emphasizing peak hawkish messaging, reduced forward guidance (including questioning the dot plot), and the market’s feedback loop. They debate surging volatility and extreme AI/semiconductor valuations, highlighting Intel’s sharp rally on customer speculation an
Imran Khan: The Nvidia Math Says This Isn't A Bubble
Is the AI trade a bubble? Imran Khan — founder of Proem Asset Management, former Snap executive, and the banker behind the Alibaba and Mercado Libre IPOs — isn't convinced. Dan Nathan sits down with Imran to pressure-test the bear case, from Nvidia's below-market multiple to the cyclical-vs-secular debate in memory, and to dig into why a big chunk of SpaceX's $2.5T valuation may not be a space sto
The SaaSpocalypse Is Looking Like A Bank Run with Current's Stuart Sopp & Trevor Marshall
Dan Nathan welcomes Current co-founders Stuart Sopp and CTO Trevor Marshall to discuss Current’s business momentum, the fintech landscape, and the evolving AI build-out. Sopp announces an $80 million Series E at a $1.5 billion valuation led by Spring Coast, noting Current’s profitability, deepened partnerships with Cross River and General Catalyst’s customer value fund, and over 70% growth for thr
Some VCs Are “Behaving Badly”, Ann Bordetsky Isn't One of Them!
Dan Nathan and Guy Adami break down a historic market week, headlined by SpaceX's blockbuster IPO and Kevin Warsh's first meeting as Fed Chair. Elon priced the deal himself at $135, and the stock popped to a ~$2.2 trillion valuation—instantly the 6th most valuable company in the world. The guys dig into whether the numbers actually add up, walking through Morningstar's $63 fair value, Jim Chanos's
The $1.75 Trillion SpaceX IPO Will Test This Rally with Liz Thomas and Bill Capuzzi, CEO of Apex
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Warsh's First Fed Meeting, SpaceX Going Public & A Vice Stock Update
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Checkout the WAWD Substack here: https://whatarewedoingonthedesk.substack.com/
Danny Moses is joined by Dan Nathan to break down a market that sold off on good news — strong jobs data, sticky inflation, and a Fed whose hands look increasingly tied heading into the CPI print. The guy
OnlyDans: SpaceX IPO, Apple's AI Dissapointment & Tech's PR Problem with Dan Ives & Danny Moses
Dan Nathan is joined by Dan Ives of Wedbush Securities for a wide-ranging look at the AI trade, fresh off Ives' trip to Apple's WWDC. They dig into whether Apple has finally gotten back in the AI game with its new developer foundation and Gemini partnership, why Ives sees Apple as the "toll booth" for the next consumer AI cycle, and where Dan Nathan remains skeptical. From there: the biggest risk
Bill Capuzzi at Minetta Tavern | Standing Table #4
Today we dine at Minetta Tavern with a very special guest - Bill Capuzzi.
Bill has spent decades in financial services, holding leadership roles across firms like Pershing. As CEO of Apex Fintech Solutions, he’s helped build the backbone for many of the platforms people use to invest today, even if they don’t realize it.
Apex is the infrastructure behind the apps, the part that actually makes th
The AI Trade Shows Signs Of Weakness + Team Rubicon CEO Jim Brooks Was Here
Guy Adami and Dan Nathan break down a strange Friday tape: a strong jobs report that sent stocks lower as the market prices out rate cuts — and even flirts with hikes. They dig into the Broadcom-led selloff in semis, Anthropic's call to slow down AI development and what it could mean for the CapEx trade, and Bitcoin getting cut in half at ~$60K alongside the unraveling of the crypto treasury-compa
America's Trillion-Dollar Race to Catch Chinese Miners with Brian Paes-Braga, Founder/CEO of The Metals Royalty Company
Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, cu
Dan Niles: We're 100% in an AI Bubble... Don't Go Broke Trying to Call the Pop
Dan Nathan hosts Dan Niles of Niles Investment Management on the Risk Reversal podcast to discuss macro conditions, AI-driven market leadership, and lessons from prior tech cycles. Niles compares the current AI build-out to 1997–1998’s internet infrastructure boom, arguing recent macro scares (tariffs, Iran/oil) created buying opportunities and that a bubble can persist, with further gains likely
Lawrence McDonald: How To Listen When Markets Speak
Danny Moses interviews Larry McDonald on how several prior calls played out, including regulatory relief for banks, a rotation into hard assets and energy, and AI-linked nuclear exposure via NUKZ. McDonald argues the economy is increasingly K-shaped: wealthy consumers benefit from higher money-market yields and AI CapEx, while consumer-facing companies like McDonald’s, Home Depot, and retailers we
A VC's Playbook For Investing in the AI Bubble with Jeff Richards
Dan Nathan welcomes Notable Capital partner Jeff Richards to discuss how public-market concentration and multiple expansion in mega-cap tech are influencing private-market valuations. Richards explains Notable’s evolution from GGV Capital and its investments across AI and software, then argues that AI adoption is accelerating rapidly, citing publicly reported Anthropic run-rate growth and broad “t
The Tokenmaxxing Party Is Over and No One Wants to Admit It
Dan Nathan and Guy Adami open with promotion of their new interview series Standing Table (episodes with Anthony Scaramucci, Rick Heitzmann, and SoFi’s Liz Thomas) and note a recent RiskReversal conversation with Dan Niles about investing in a market bubble. They discuss eased geopolitical rhetoric heading into Memorial Day, crude around $88, lower yields, and the S&P 500 at all-time highs, while
The Perpetual Future Is Here with David Schamis & Jeroen Nieuwkoop of Hyperliquid Strategies
Dan Nathan hosts David Schamis (CEO, Hyperliquid Strategies) and Jeroen Nieuwkoop (COO, Hyperliquid Strategies) to explain Hyperliquid, a three-and-a-half-year-old L1 blockchain built for high-throughput exchange activity and best known for perpetual futures trading. They discuss how Hyperliquid aims to be an “AWS of on-chain trading,” enabling permissionless exchanges like Trade XYZ to list perps
Peter Boockvar Gives Us His "Boock Report" On The Markets
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Checkout the Boock Report: https://boockreport.com
On this episode of On the Tape, host Danny Moses sits down with returning guest Peter Boockvar — independent economist, market strategist, and CIO at OnePoint BFG Wealth Partners — for a wide-ranging conversation on the forces s
Liz Thomas at Harry's | Standing Table #3
Today, we’re back on Wall Street and dining at Harry’s, a trusted Wall Street institution for over 50 years. Joining us is Liz Thomas, Chief Market Strategist at SoFi.
Her origin story starts in Wisconsin, but she’s made a name for herself in New York as a trusted market and investment guru. Prior to joining SoFi, Liz was the Director of Market Strategy at BNY Mellon, a Portfolio Analyst at Bair
Microsoft Can't Afford Its Own AI. What Does That Tell Us? + Easterly's Darrell Crate on Structural Volatility
Guy Adami and Dan Nathan discuss an S&P 500 pressing all-time highs amid sticky inflation, a 10-year yield around the mid-4% range, and low near-term volatility despite an upcoming Fed meeting and PCE data. They review mixed retail signals (strength at higher-end brands versus Walmart’s margin pressure and a strained lower-end consumer), debate the market’s resilience, and focus on AI: Nvidia’s ex
Wall Street Bull Brian Belski Sees Correction Before S&P Run Into the 8,000s
Brian Belski joins Dan Nathan to break down why he still sees the S&P 500 moving higher — but warns a correction may come first.
Belski explains why this is now an earnings-driven market, why the Mag 7 may begin to hand leadership to the other 493 stocks, and what could trigger the next pullback. He also shares his views on AI stocks, SpaceX/OpenAI IPOs, financials, industrials, housing, rates, a
The Future of AI: Agents, Defense, Space & Trillion-Dollar Startups with Shahin Farshchi & Ann Bordetsky
Dan Nathan sits down with Lux Capital partner Shahin Farshchi and AI investor Ann Bordetsky from the RBC Private Tech Conference to explore what comes after ChatGPT — and where the next wave of AI is headed.
From defense, robotics, semiconductors, and space infrastructure to AI agents, enterprise software, and the future of work, these conversations break down the technologies, companies, and t
The Future of QQQ: AI, SpaceX IPO & Mag 7 Dominance with Invesco's Brian Hartigan
In this episode of the Risk Reversal Podcast, Dan Nathan and Guy Adami discuss Friday's stock sell-off, geopolitical tensions, oil and the AI mania. Later, they sit down with Brian Hartigan, Global Head of ETFs & Index Investments at Invesco, to discuss the future of the QQQ, market concentration, passive investing, AI-driven growth, and the next wave of mega IPOs.
They dive into Nvidia’s domin
Bitcoin, Dante’s Inferno & the Future of Money with Anthony Scaramucci
Anthony Scaramucci joins Guy Adami for a wide-ranging conversation on everything from Dante’s Inferno and human nature to Bitcoin, risk-taking, wealth, and the future of money. Scaramucci explains why he believes understanding history matters more than ever, shares his outlook on China and Taiwan, and breaks down why Bitcoin could become one of the most important technologies of our time. Plus: le
Bourbon and Charts with Carter Worth
This episode might work better visually! Click here to watch on YouTube: https://youtu.be/F6p1s00YIck
Carter Worth is BACK with the WAWD Substack boys for another edition of "Bourbon & Charts"
Click the link http://kalshi.com/r/MOSES or download the Kalshi App and use code MOSES to sign up and trade today!
Timecodes
0:00 - Intro
1:30 - SPX & Semis
14:30 - Gold, $AEM & Copper
23:00 - Yield
The $400 Billion Backlog: RBC's Top Analysts Break Down the AI Trade
At RBC Capital Markets’ Private Tech Conference, Dan Nathan interviews RBC analysts Brad Erickson, Rishi Jaluria, Matt Swanson, and Matt Hedberg on Q1 earnings and AI’s impact across internet and software. Erickson says demand is solid, hyperscalers are raising CapEx as cloud ROI improves, and explains why Meta’s higher spend hurt the stock versus Google/Amazon’s accelerating cloud revenue and mar
