The Compound and Friends

Jonathan Boyar, value investor and principal at Boyar Value Group, shares his take on finding bargains in a shifting market. He highlights Mag 7 multiple compression, why sellers are dumping big tech, and the appeal of buying into falling stocks. He also discusses catalysts like MSG Sports, Uber’s autonomous path, and special-situation plays such as MGM and the Braves.

They unpack worsening economic data and mixed consumer and labor signals. They explore early strains in private credit, liquidity risks, and the halo trade around private versus public BDCs. Housing market freeze and mortgage pain get attention. Retail trader pullback and its market impact is discussed. They note rising college grad unemployment and a memory‑chip rally as a standout sector.

Jim Labenthal, Chief Market Strategist at Serity Partners with 25+ years managing portfolios and frequent CNBC contributor. He walks through market volatility and why many stocks are down even as indexes hold. They debate AI winners, private credit risks and gating, and point to specific stocks and triggers that could shift sentiment.

NVIDIA's GTC vision and the shift from training to constant inference in AI. The rise of AI in physical products and robotics plus CUDA's competitive moat. Concerns around private credit, rapid redemptions, and controversy at an asset manager. A case for why Uber might be undervalued given partnerships and autonomous plans.

Rick Wurster, CEO of Charles Schwab Corporation, leads Schwab through massive asset and account growth. He talks about Schwab’s scale and custody advantages. He explains RIA growth, advisor support, and digital onboarding improvements. He explores AI use cases improving operations and client experiences. He discusses private markets, serving ultra-HNW clients, and the future role of human advisors.

Jeffrey Sonnenfeld, Yale School of Management professor and founder of the Chief Executive Leadership Institute, explains Trump’s patterned leadership. He discusses tactics like divide-and-conquer, bilateral dealmaking, hub-and-spoke control, message repetition, rapid alliance shifts, and how corporate leaders and boards might respond. Short, sharp takes on what to watch in governance, risk, and strategic playbooks.

Garrett Baldwin, research economist and author of Me and the Money Printer, brings sharp market analysis. He unpacks liquidity and Fed support, explains odd rangebound price behavior, and dives into private credit risks. They also probe oil and geopolitical escalation, passive flows and algos, plus where leverage and BDC stress could matter.

They unpack a sudden oil spike and why it cushioned the market during a selloff. They flag extreme single-stock dispersion and unusual internals that favor stock-pickers. The conversation covers private credit stress and B-Cred outflows. They debate why NVIDIA stalled after strong results and spotlight drone and modern warfare ETFs.

Matthew Tuttle, CEO and CIO of Tuttle Capital Management, a thematic ETF pioneer. He lays out Europe's push for digital sovereignty and a potential “kill switch” from U.S. tech. Conversation hits rebuilding European cloud and defense stacks, thematic investment approaches, and specific sectors like AI, robotics, and defense suppliers to watch.

Chris Verrone, Strategas macro and chart specialist, and Daniel Clifton, Strategas policy and Washington watcher. They dig into why data centers spark local backlash and compare them politically to fracking. They discuss how tech should package jobs and taxes, a rotation from mega-cap AI to industrials and utilities, and the broader shift to a CapEx, multipolar economy.