RiskReversal Pod

Dan Nathan hosts Dan Ives to discuss a sharp Nasdaq and semiconductor selloff, shifting AI leadership, and how investors should navigate violent drawdowns. Ives explains his move from Wedbush to the new Yorkville Ives “modern merchant bank,” continued involvement with the Ives ETF, and the launch of a $200 million IPO vehicle investing in private AI companies. They debate AI as an 8–12 year buildout versus dot-com, emphasizing the gap between massive CapEx and monetization, energy constraints, and leverage risks at firms like Oracle and neo-clouds. The conversation contrasts Microsoft’s enterprise-driven AI upside with Alphabet’s ad/search cannibalization fears, highlights stock-picking across chips, hyperscalers, software, and cybersecurity, and examines bear arguments on GPU depreciation, token economics, and political risks from potential data-center restrictions after midterms.

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The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

In a solo Monday edition of the RiskReversal Podcast, Dan Nathan recaps a volatile week marked by major tech earnings, a Fed decision and press conference, rising yields, and looming catalysts including the election and the October jobs report. He notes the S&P’s tight consolidation despite sharp moves in mega-cap tech, with weakness in Alphabet, Meta and Amazon contrasted with relative strength in Microsoft, and highlights a dramatic Intel plunge on weak guidance as a warning about AI-trade narratives, heavy CapEx and negative cash flow. He questions enthusiasm for massive AI-related IPOs amid widespread debt and capital raising by large tech firms, flags stress in “neo-clouds” and software (including ServiceNow), and previews key upcoming reports from Apple, Palantir, AMD and others while discussing oil, volatility and market positioning.

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The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Josh Brown, CEO of Ritholtz Wealth Management and co-host of The Compound and Friends, joins Dan Nathan for a wide-ranging conversation recorded on a volatile morning for AI stocks. They dig into why Josh calls this “the age of AI” rather than a trade. They also cover why he thinks the long-term winners will have to own their compute end to end, and whether Anthropic’s upcoming IPO can draw real retail demand at a $1.5–2 trillion valuation.

Josh also explains his framework for finding the best stocks in the market: start with the stocks that are already going up. He covers how Ritholtz uses custom indexing and 130/30 strategies to harvest tax losses. And he makes the case that Elon Musk may have built the last trillion-dollar company that everyday investors got to ride from the start.

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The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Dan Nathan hosts David Steinberg, CEO and founder of Zeta Global, for a wide-ranging conversation recorded after Zeta Live in New York, where Steinberg says the event drove $10 of business for every dollar spent last year and expects 12–14x this year. Steinberg explains Zeta’s 2017 decision to re-architect its platform with proprietary data and AI native to the application layer, a bet he says paid off after ChatGPT made AI a boardroom priority; he cites growth from $283M trailing revenue at the 2021 IPO to about $1.8B this year and strong ROI metrics for clients. He describes intent-driven marketing built on a large opted-in data cloud, expansion into Dynamic Enterprise Intelligence, and the launch of Athena evolving into Athena OS for enterprise-wide use cases. They discuss announcements including making Athena headless and integrated with major models, a custom chip strategy, recent acquisitions like SensorAI for agentic commerce, and a partnership with Palantir Foundry tied to speed, ontology, data sovereignty, and Zeta Gov/FedRAMP. The conversation also covers public-market repricing, valuation multiples, key SaaS KPIs, and the outlook for frontier vs open models and an emerging agentic internet.

—FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Learn more about Astraeus Wealth Management: ⁠http://astraeuswealth.com/partner-with-us⁠

Dan Nathan and Guy Adami “bookmark” a pivotal week heading into major tech earnings, a Fed meeting, and the midterms, noting the S&P’s resilience near highs despite sharp damage in former leaders like semis and select tech. They argue money isn’t leaving equities but rotating into defensives such as staples, utilities, healthcare, defense, software, and especially cybersecurity (Palo Alto, CrowdStrike, Zscaler), while discussing how 10-year yields around 5% and shifting bond-market dynamics affect rate-sensitive stocks and tech financing. They focus on AI-driven CapEx, negative free cash flow at Meta, dilution via a new share class, and rising CDS levels (including CoreWeave and Meta) as potential warning signs. They also cover weakening AI sentiment via chip-equipment weakness, questions around Anthropic/OpenAI IPO readiness amid decelerating growth, crude oil strength tied to geopolitics, and puzzling gold weakness despite the macro backdrop.

—FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal.

Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose.

Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.