{"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":"Veteran Investor: 3 sectors to buy BEFORE the MARKET CRASH","slug":"veteran-investor-3-sectors-to-buy-before-the-market-crash","published_at":"2026-07-23T12:00:00+00:00","page_url":"https://stenobird.com/podcast/full-signal-7568617/veteran-investor-3-sectors-to-buy-before-the-market-crash","show_page_url":"https://stenobird.com/podcast/full-signal-7568617","url":"https://podcasters.spotify.com/pod/show/philrosen/episodes/Veteran-Investor-3-sectors-to-buy-BEFORE-the-MARKET-CRASH-e3mdvem","audio_url":"https://anchor.fm/s/10b3e31fc/podcast/play/123190166/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-6-22%2F428440920-44100-2-71397f778b568.mp3","summary":"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","meta_description":"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 Phi…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2550,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/full-signal-7568617/episodes/veteran-investor-3-sectors-to-buy-before-the-market-crash/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/veteran-investor-3-sectors-to-buy-before-the-market-crash.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}