Maggie Lake Talking Markets Episode 15: Is The Market Wrong About Software Stocks? With Jeremy Schwartz
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Feb 11, 2026 Jeremy Schwartz, Global CIO at WisdomTree and host of Behind the Markets, offers macro and sector perspective in this conversation. He breaks down the rotation out of high-growth software and AI names. They explore AI noise versus real productivity gains. He highlights gold overlays as a defensive capital-efficiency tool and discusses Japan’s snap election and where to allocate internationally.
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AI's Dual Role: Disruption And Productivity
- AI creates both fear and productivity gains, and markets are reacting to uncertain disruption in software.
- Jeremy Schwartz argues technology could raise margins and broaden gains beyond mega-cap winners.
Use AI To Bootstrap Workflows Fast
- Use AI tools to accelerate work and build prototypes quickly instead of replacing teams.
- Jeremy describes getting an app 80% complete in 30 minutes by prompting Codex and refining it.
Software Stocks May Reprice, Not Disappear
- Many beaten-up software stocks now trade like value names, but narratives about displacement may be premature.
- Jeremy points to Adobe and Salesforce as likely to adapt and remain integral to workflows.
