# Markets Happy Hour Podcast - July 8, 2026 with special guest Jens Backes in person in Barcelona

Page: https://stenobird.com/podcast/markets-happy-hour-podcast-with-aoifinn-devitt-7122293/markets-happy-hour-podcast-july-8-2026-with-special-guest-jens-backes-in-person-in-barcelona
Text version: https://stenobird.com/podcast/markets-happy-hour-podcast-with-aoifinn-devitt-7122293/markets-happy-hour-podcast-july-8-2026-with-special-guest-jens-backes-in-person-in-barcelona.md
Podcast: [Markets Happy Hour Podcast with Aoifinn Devitt](https://stenobird.com/podcast/markets-happy-hour-podcast-with-aoifinn-devitt-7122293)
Published: 2026-07-08T18:45:59+00:00
Episode link: https://fiftyfacespodcast.podbean.com/e/markets-happy-hour-podcast-july-8-2026-with-special-guest-jens-backes-in-person-in-barcelona/
Audio file: https://mcdn.podbean.com/mf/web/mvw98ra95ddbw3us/yt_video_yZpHwvqzYHU_nbtf52.mp3
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Duration seconds: 2194

## Resource

**NOT INVESTMENT ADVICE AND DOES NOT CONTAIN INVESTMENT RECOMMENDATIONS"This week's Markets Happy Hour Podcast is a little bit different . . while we still bring you a market overview together with an outstanding guest, this time we are exploring how good some of the AI models are at picking stocks, building portfolios and deciphering equity market narratives. Guest Content Disclosure: This presentation was prepared by Jens Backes, an independent guest speaker, and reflects Jens Backes' opinions as of the presentation date. Moneta has not independently verified the information presented. For educational discussion purposes only. Not investment advice or a recommendation to buy or sell any security.Jens Backes is a former McKinsey consultant with an expertise in telecoms, based in Barcelona, where we recorded this episode. Since October of last year he has challenged 3 models plus his own Alphabot JB to pick 10 stocks to generate the best total return over 5 years. The results are intriguing.From Open AI's portfolio which has gone all in on every aspect of the AI value chain, to Claude which prefers to own tolls and not the road (whatever that means) each model has gone in its own unique direction and not all have beaten the index. We discuss what we can learn from these models in terms of persistence of market narratives and the unexpected winners that can come from such a highly concentrated portfolio.All examples are provided for illustrative purposes only and are not intended to represent all investment decisions or results achieved for client accounts. Client results will vary based on account objectives, restrictions, timing, fees, and market conditions.

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## Transcript

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