TheStreet Pro Portfolio Podcast

During TheStreet Pro’s Portfolio Podcast, Chris Versace shares his conversations about the stock market, economy, sectors, and stocks with Street Pro team members and other thought leaders.

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Episodes

7 days ago

On this edition of TheStreet Pro Podcast, Chris Versace is joined by Helene Meisler for a technical look at the market. The two discuss the channel Helene sees in the S&P 500 and she explains why she is carefully watching the upward climb in that channel as well as the market’s overbought nature. As she shares, uptrend lines are made to be broken, and while it may not be in the very near term, she explains why she is on high alert.
The conversation morphs into one about the S&P 500’s performance compared to the Nasdaq, why investors should be mindful of what Helene calls “spike highs” in stocks, and what to watch to determine if a stock may power ahead of it. Helene also runs through the sentiment indicators she is watching and discusses why one could be flashing yellow lights in the not-too-distant future. All that plus an interesting and unexpected story about the bond market and Good Friday.

Wednesday Mar 13, 2024

Joining portfolio manager Chris Versace on this edition of TheStreet Pro Podcast is Peter Jackson, CFO of Builders FirstSource (BLDR). The conversation starts with some thoughts on the domestic housing market, one that accounts for more than 80% of Builder’s mix of business and turns quickly to the single-family housing market. That economic engine drives roughly 70% of Builder’s business and the company sees it rising mid-single digits. The conversation quickly turns to the expanding and higher margin Value Add business and how that ties into the company’s digital strategy, one that aims to reduce pain points for homebuilders ranging from large public companies to smaller, regional players and growing dollar share for Builder.
Folks looking for more information on Builders FirstSource may want to visit the company’s Investor Relations website and its latest investor presentation.
 

Tuesday Mar 05, 2024

Carley Garner joins Chris Versace on the latest AAP Podcast and the conversation begins with a discussion of the equity markets. Both agree a pullback would be a positive for the market and investors, with Carley explaining why she watches the Nasdaq 100 futures and Relative Strength Indicator (RSI) levels. After a quick chat about Apple (AAPL) and Alphabet (GOOGL), Carley shares the Nasdaq 100 level she is watching closely and where we could see a healthy market correction put the S&P 500.
The conversation shifts to key commodities including the trifecta that is ag commodities (corn, wheat, soybeans), cocoa, coffee, oil, and natural gas. In that discussion, Carley reminds us about the boom-and-bust cycle of commodities and shares an upbeat outlook for natural gas and oil but warns the euphoric prices for one of those commodities could be very different in the coming quarters.
The podcast closes out with Carly sharing some of her favorite must-dos for folks visiting Las Vegas and shares a restaurant favored by locals that you probably won’t hear about if you're only on the Vegas strip.
More from Carley Garner can be found here, and be sure to follow her on X at @CarleyGarner
 
Other recent AAP Podcasts include
Market Strength, Fed Predictions and the Savannah Bananas With Bob Lang
Breaking Down the Pre-IPO and IPO Markets with EquityZen's Phil Haslett
The Hubbub on AI With Zapata's Christopher Savoie

Tuesday Feb 27, 2024

On this AAP Podcast episode, Chris Versace catches up with the man behind AAP’s charts, Bob Lang discussing reasons behind the market’s continued strength and why the Vix is “double bullish” for the market. The two discuss Barclays’ boosting its S&P 500 target to 5,300 and what it could take to get there.
Along the way, Bob and Chris discuss Fed policy and why the Fed’s coming update for its Economic Projections could sour some investors. Bob goes on record for when he thinks the Fed will cut rates this year and shares how many rate cuts he sees in 2025. All that and much more including what stock we added to the Bullpen this week, why our Nvidia (NVDA) price target could be conservative, what Costco (COST) and the Savannah Bananas have in common, and how the stock market tends to perform on Leap.

Thursday Feb 15, 2024

While the AAP Portfolio traffics in publicly traded companies, there is a market for shares in pre-IPO companies. On this episode of the AAP Podcast, Chris Versace chats with Phil Haslett, Chief Strategy Officer and co-founder of EquityZen, an online marketplace for trading pre-IPO employee shares from privately held companies. Phil provides an overview of the pre-IPO market and the conversation morphs to Chris and Phil discussing the current state of the IPO. Phil shares why he is cautiously optimistic about the IPO market but also shares why he thinks we could see a pickup in the M&A market as well. Greater activity in one would be positive for the shares of AAP Portfolio holdings Morgan Stanley (MS) and Bank of America (BAC), but a pickup in both would that much better. The conversation then shifts to talking about AI companies and how that could impact not only the IPO market but the stock market as well. And you’ll want to hear an interesting statistic Phil shares at the end of the conversation.

Thursday Feb 08, 2024

On this episode of the AAP Podcast, Chris Versace sits down with Christopher Savoie, the founder and CEO of Zapata AI. Zapata has been working with AI for industrial applications since 2017.  Savoie shares how his start in molecular biology and working with machine learnings for sequencing gave rise to the formation of Zapata and its use of rich analytics with real-time data and large language models to address customer-specific problems. The conversation turns to generative AI with Savoie explaining how it can drive productivity with diverse examples ranging from engineering and construction to financial products like annuities, and race car driving strategies. Versace and Savoie then discuss why generative AI is the latest in a line of tools like the Internet that will alter how we work, driving productivity along the way. Savoie also shares why GPT 4 may not be the product some are hoping it will be and why multiple, smaller language models working together, not one model “to rule them all”, will help companies address their specific problems and needs.  
Recent AAP Podcasts
The Fixed-Income Perspective with GenTrust's Jim Besaw
Talking the Housing Market, Silver Tsunami and Stocks With Jack Truong

Tuesday Jan 30, 2024

On this edition of the podcast, Chris Versace chats with Jim Besaw, co-founder and Chief Investment Officer at GenTrust, a firm that focuses on investment strategies for high-net-worth individuals, institutions, and family offices. Ahead of the Fed concluding its next policy meeting, we wanted to talk with Jim because of his role at GenTrust but also because of his background in fixed income. That history yields a very different take on the probability of Fed rate cuts than those captured in the CME FedWatch Tool. Jim also shares some of the risks he sees the Fed may look to avoid as they get ready to eventually dial back monetary policy.
Chris and Jim discuss some of the signals Jim is watching when it comes to the economy and a potential recession as well as how GenTrust thinks about putting capital to work in the current market environment. That prompts a conversation about the Magnificent Seven, P/E multiples, and AI, with Jim sharing how his firm has used AI since 2015. We close out the conversation by asking Jim how equity investors should approach the fixed-income markets when investing and qualities investors should look for in investment candidates ahead of what looks to be a wave of debt refinancing in the next several quarters.  

Monday Jan 22, 2024

On this episode of the AAP Podcast, Chris Versace reconnects with Jack Truong, former CEO of James Hardie and Electrolux North America. While the conversation starts off talking about expectations for Fed rate cuts this year, it quickly turns to the US housing market. Jack explains why he is bullish on the housing market long-term, but he sees several headwinds that could restrain it over the coming quarters.
As the Silver Tsunami trades down and Airbnb (ABNB) speculators throw in the towel, he sees Millennials entering the housing market. The key isn’t interest rate cuts, but in Jack’s view lower housing prices. Chris and Jack also talk about factors investors should consider when identifying homebuilding stocks and what drives repair and remodel spending. Jack also shares why he isn’t bullish on the shares of Home Depot (HD) or Lowe’s (LOW) near-term, and which geopolitical risk he thinks isn’t getting the attention it deserves.

Thursday Jan 04, 2024

As we approach the end of this short first trading week of 2024, we are back with a fresh AAP podcast episode with Chris Versace, who is joined by Bob Lang. The two discuss the fizzle that was the Santa Claus Rally and explain why it’s not a major factor in their investment decision-making process. The conversation shifts to the market action this week and the factors both fundamental and technical driving it.
Bob shares the technical support levels for the S&P 500 that he’s watching, and notes we have a bevy of Fed heads coming that could throw some cold water on market rate cut expectations. Chris reviews this week’s data, explaining why it supports the Fed not rushing to cut rates, and how one item adds another reason to be concerned about earnings guidance when the 4Q 2023 earning season gets underway. As the two discuss, that season begins with bank earnings late next week, with results from Bank of America (BAC), Citigroup (C), JPMorgan (JPM), and Wells Fargo (WFC). We end the conversation talking about the change to the Fed’s voting committee, and how that might influence monetary policy compared to last year.

Monday Dec 18, 2023

In our last AAP podcast of 2023, Chris Versace is joined by his former Stocks Under $10 partner in crime and author of the Morning Recon at Real Money Pro, Stephen “Sarge” Guilfoyle. The conversation begins with why Sarge gets up at 3:30 AM ET every morning but quickly gets into the two discussing the market’s meteoric rise since late October. Neither thinks the Fed will cut interest rates 6 to 7 times next year but both agree that if it's more than three rate cuts it could be a much bigger issue for investors. Both also express concern over market expectations for the basket of S&P 500 companies to grow their earnings by more than 11% in 2024 compared to 2023. Sarge and Chris also agree the current market melt-up is likely to continue into early 2024, but both are wary about the start of the December quarter earnings season.
With that in mind, Sarge points out that the January-February time frame can be a tricky time for the market and a challenging one for investors. That’s why we at AAP have used the market’s strength and now overbought condition to selectively book some of the big moves in our positions, building our shopping list and continuing to own our market hedging, inverse ETF positions.

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