Nancy Tengler is the CEO and chief investment officer of Laffer Tengler Investments, where she has managed growth, dividend-growth, and value portfolios for three decades. She joins Phil Rosen on Full Signal to discuss why she still sees the AI bull market in its early stages, whether hyperscaler cash burn and rising bond yields are real threats, and her highest-conviction stock picks heading into 2027. This episode is sponsored by Y&#x27;all Street Asset Management: https://www.yallstreetetfs.com/ 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 - State of the AI bull market 2:02 - Why the doomer narrative persists 3:34 - Earnings outpacing stock prices 7:12 - Broadening-out trade stalls 9:20 - Hyperscaler free cash flow concerns 11:39 - Bond yields risk 16:16 - Walmart 17:53 - AMD 19:06 - Quanta Services 20:55 - Tesla 23:33 - CrowdStrike 25:24 - DR Horton 28:12 - Alphabet and Amazon 33:27 - Where to find Nancy&#x27;s research #podcast #investing #markets #tech #ai #macro #stocks #bitcoin #fed

Top 1% Portfolio Manager: 7 stocks to BUY for the AI bull run!

Full Signal

Nancy, you have been one of the best people over the last year seeing through the AI fears, the software sell off, the Doomer headlines. I just want your take from a high level where you think we are in this bull market right now. About five minutes ago, Anthropic just announced their 5.5 release. So they're not slowing down, which is exactly what we thought.

I think it was a cry for help. Help me stop. Help me stop eating, drinking, whatever it is. Help me stop developing new language models, new frontier models. But I think we're in the early stages, Phil, in all seriousness. And I know that's not super original, but my view is that, you know, I managed money in the 90s. This is not that, but there are a lot of analogies.

And this particular technology that we're talking about now, as the president named it today, super intelligence, is going to change the way we live. And so it's a technological revolution. The economy is in transition. We didn't lose jobs. In fact, we've seen jobs hold in tight. The labor market's pretty good.

But all the dire warnings are similar to what we've seen in the past with electricity, with railroads, with automotives. People don't like the initial disruption. And technology does disrupt. But over time, I think what we'll find is that we're much more productive and we're enjoying an easier way of life.

I mean, the last thing I'll say is my kids are not going to be able to take away my keys. They won't have to. I'll be in a cyber cab, you know, and I'll have an optimist to be my home health care solution.

Top 1% Portfolio Manager: 7 stocks to BUY for the AI bull run!

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Top 1% Portfolio Manager: 7 stocks to BUY for the AI bull run!

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.