Record Highs, 5% Yields... Something Has To Give w/ “The Big Short” Crew & Robinhood’s Steph Guild

Guy Adami (0:00)

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A warm welcome to the Risk Reversal Podcast. Dan Nathan and I had the great opportunity to go to the Robinhood Conference in Houston, Texas. We met a lot of people. I think there were north of 1,500 people at the conference. Vlad Tenev was there, spent some time with him. I saw a bunch of investors and traders that are huge, not only fast money fans, but Risk Reversal media fans, which is always great. I saw Tom Sosnoff there. I saw a number of different people, but we started the conference off with a far reaching conversation with Stephanie Guild, the Chief Investment Office over there at Robinhood and two people that are near and dear to all of your hearts and of course, Vincent Daniel, Porter Collins, along with Dan Nathan. Talked about a lot of different things. I think you're going to enjoy it and here it is now.

I'm energized. I was here last night. I did not get a seat. I sat in the back. It was full. That's a tribute to all of you. There was a saying at Goldman Sachs when we tried to put on trades, take a partner.

That basically meant, if you have an idea about something, bounce it off somebody else and let them sort of look at it and see it through a lens that maybe you didn't look at it through. That really helps. If you think about the community you've built here at Robinhood, you can do that in a material way. Given what I saw last night, it's going to make it a lot easier. Without further ado, I have an amazing panel here. You will notice Danny Moses is not here. He didn't want to sit next to Vinny. He said it's too much. You'll see Danny later. But the Porter and the Vinny are here, along with my dear friend Stephanie Guild and obviously Dan Nathan. Steph, I'm going to start with you.

Obviously, the topics are energy, the topics are interest rates, and the topics are AI. That's what's dominating. But there are other things going on. So if you're looking across the spectrum and you do amazing work, by the way, you're really fortunate to have Steph Guild here at Robinhood. You know, what sort of stands out to you over the last few weeks?

Stephanie Guild (3:07)

I think, obviously, the things you said and the things that worry me about is just like the trickle effect from the higher cost and what that does to the consumer, what that does to the cost for businesses to run themselves.

But I also think that you're kind of seeing it play out in the markets where there used to be much more breath and now the breath has come in, where it's concentrated in the kind of largest names. And that's also, that's probably how it's playing in to, you know, the largest names are not being as impacted by it more recently. And actually, there's something I was thinking about with it, which is, it used to be that, like, if you're worried about growth, you could just go buy the largest tech companies and kind of hide out in there. And I'm not sure that's actually where you should hide out anymore, but I think that instinct or reflexes still exists in the market. And that's maybe why you're seeing the Mag 7 catch up and they're being much less breathed right now.

Guy Adami (4:07)

We play this, any Fast Money fans out there, don't lie if you're not, but if we make it to January 20 years, anybody ever seen this show? It's somebody, please say it. You can yell and scream. By the way, we have Mike, so at the end of this session, to the extent you have questions, we're gonna ask people to sort of go down either aisle. We'll leave some time for Q&A, but we play this game on Fast Money. If I had told you six months ago the following would be happening and stuff, I'm gonna go back to you.