This episode is sponsored by Pictet Asset Management and its AI-enhanced equity ETFs.
Pictet AI Enhanced US Equity ETF (PQUS):
https://etf.am.pictet.com/pqus/?utm_campaign=usetf&cid=2826077237&utm_source=jfmv&utm_content=pquslp&utm_medium=podcast_02&utm_term=noterm
Pictet AI Enhanced International Equity ETF (PQNT):
https://etf.am.pictet.com/pqnt/?utm_campaign=usetf&cid=2715538577&utm_source=jfmv&utm_content=pqnt&utm_medium=podcast_02&utm_term=noterm
In this episode of the OPM podcast, Avery and Co. founder Sean Emory explains why he firmly rejects the stagflation narrative and believes the consumer remains in fine shape. Emory argues that despite the psychological impact of higher gas prices, strong tax refunds and a stable housing market are continuing to support consistent consumer spending. He breaks down how this stable macroeconomic view aligns with his fundamental investment approach, detailing high-conviction bets on consumer-oriented companies like Clear Secure and First Watch. The conversation also explores how Emory leverages these macro insights alongside bottom-up analysis to identify long-term value in technology platforms such as Block, Zoom, and Omnicell.
Listen to Avory’s Podcast here: https://www.avory.xyz/insidescooppodcast
Follow Sean Emory on X: https://x.com/_SeanDavid
Follow Max on X: https://x.com/maxwiethe
Follow Other People’s Money on:
Apple Podcast https://bit.ly/4e7QJ1M
Spotify https://bit.ly/3Yhaazi
YouTube https://bit.ly/3C63VXR
X https://x.com/opmpod
Timestamps:
00:00 Intro
01:26 Avery Investing Style
02:56 Oil Shock Consumer Check
06:27 Housing Inflation Outlook
10:37 K Shaped Economy
13:50 AI, Employment, and Flows
18:06 Pictet AI-Enhanced Equity ETFs
19:41 Using AI for Investment Research
28:12 How AI is Making Trading More Short Term
31:09 Block ($XYZ) Investment Thesis
36:26 Zoom ($ZM) Investment Thesis
43:35 Defining Small Caps
45:57 Omnicell ($OMCL) Investment Thesis
53:42 Zillow ($Z) and Airbnb ($ABNB) Investment Thesis
54:58 Zillow Flywheel Explained
01:02:02 Housing Catalysts
01:04:30 Waiting Out AI Valuations
01:07:31 SpaceX IPO Speculation
01:09:31 Outro
