Bob Elliott is the co-founder and CIO of Unlimited Funds. He joins Phil Rosen to discuss the macro outlook and oil shock, the Fed's dilemma, portfolio positioning for 2026, and lessons from working next to Ray Dalio.
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 - Intro
0:30 - The current economic shift
1:25 - Impact of oil shock
3:45 - The Fed's impossible situation
5:25 - Labor market weakness
7:15 - Fed nominee Kevin Warsh
10:15 - Why stocks haven't sold off
13:15 - Oil shock amnesia gripping markets
15:10 - Commodities, risk reduction, rebalancing
17:10 - Long-term positioning
19:45 - Gold and bitcoin
23:45 - What investors are getting wrong today
26:25 - Pain comes before policy
29:20 - Lessons from Ray Dalio
32:00 - The 55/45 rule
35:10 - Putting hedge fund strategies in an ETF
37:35 - HFGM
39:10- Follow Bob Elliott
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
