{"podcast":{"title":"Full Signal","slug":"full-signal-7568617","podcast_index_feed_id":7568617,"rss_url":"https://anchor.fm/s/10b3e31fc/podcast/rss","website_url":"https://podcasters.spotify.com/pod/show/philrosen","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/staging/podcast_uploaded_nologo/44735927/44735927-1762224313042-f105205d033e1.jpg","author":"Phil Rosen","episode_count":109,"summary":"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.","last_synced_at":"2026-09-16T00:17:48.487183+00:00","page_url":"https://stenobird.com/podcast/full-signal-7568617"},"episode":{"title":"The REAL risk of a record stock market! | Kevin Gordon","slug":"the-real-risk-of-a-record-stock-market-kevin-gordon","published_at":"2026-05-19T12:00:00+00:00","page_url":"https://stenobird.com/podcast/full-signal-7568617/the-real-risk-of-a-record-stock-market-kevin-gordon","show_page_url":"https://stenobird.com/podcast/full-signal-7568617","url":"https://podcasters.spotify.com/pod/show/philrosen/episodes/The-REAL-risk-of-a-record-stock-market---Kevin-Gordon-e3jierp","audio_url":"https://anchor.fm/s/10b3e31fc/podcast/play/120191289/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-4-18%2F424422065-44100-2-25c22574dbc7.mp3","summary":"Kevin Gordon is the Head of Macro Research and Strategy for the Schwab Center for Financial Research. He joins Phil Rosen on Full Signal to discuss the top-heavy stock market, record-breaking earnings, the 1998-like chip boom, and the discrepancies between hard and soft data. This episode is sponsored by Public: https://public.com/openingbell 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 - Top-heavy stock market 2:19 - 1973 breadth levels 5:00 - Tech concentration 7:22 - Mag 7 vs S&P 493 convergence trade 9:38 - AI productivity and the missing hiring boom 13:46 - Valuations are bad for market timing 17:02 - Dot-com comparisons 21:05 - Penalty for missing earnings 25:27 - Semis rally like 1998 28:00 - Hard data vs soft data Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time. #podcast #investing #markets #macro #stocks #bitcoin #fed","meta_description":"Kevin Gordon is the Head of Macro Research and Strategy for the Schwab Center for Financial Research. He joins Phil Rosen on Full Signal to discuss the to…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2137,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/full-signal-7568617/episodes/the-real-risk-of-a-record-stock-market-kevin-gordon/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/full-signal-7568617/the-real-risk-of-a-record-stock-market-kevin-gordon.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}