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901 episodes

The AI Trade Is Shifting: Adoption, Infrastructure Risk, and Hidden Concentration in the S&P 500
24/02/2026 | 22 mins.
In this episode of Lead-Lag Live, I sit down with Kai Wu, Founder and CIO of Sparkline Capital, to break down why the AI boom may be entering a new phase and why investors concentrated in infrastructure stocks could be taking more risk than they realize.

With nearly half of the S&P 500 tied directly or indirectly to AI infrastructure buildout, Kai explains the dangers of crowded positioning, excessive capital spending, and valuation expansion. Drawing on historical technology cycles from railroads to the internet, he outlines why the biggest long-term winners often aren’t the builders, but the early adopters who use new technology to gain efficiency and market share.

We also dive into enterprise adoption rates, proof-of-ROI versus hype-driven AI mentions on earnings calls, and how to distinguish companies generating measurable productivity gains from those simply telling the story.

In this episode:
– Why the AI cycle may be shifting from buildout to adoption
– How only about 10 percent of firms are currently using AI in production
– The valuation risk embedded in infrastructure-heavy portfolios
– Why early adopters may outperform the AI builders
– How advisors can rethink AI exposure without abandoning the theme

Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.

#AI #StockMarket #SP500 #NVDA #TechStocks #Tesla
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Rotation vs Concentration: Michael Germano on Cyclicals, Commodities, and the AI Risk Trade
23/02/2026 | 19 mins.
In this episode of Lead-Lag Live, I sit down with Michael Germano, Founder and Wealth Manager at Key Sage Wealth, to discuss whether markets are entering a major rotation after years of mega-cap tech dominance.
From signs of mean reversion and passive-driven distortions to the case for a commodity supercycle and a weakening U.S. dollar, Germano explains why investors may want to rethink concentration risk and reassess exposure to AI-driven valuations.
In this episode:
– Why mega-cap tech may be “long in the tooth”
– How passive flows have created market inefficiencies
– The case for a structural commodity supercycle
– What a weaker dollar means for portfolios
– How wealthy investors compound capital using lending strategies
Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.
#MarketRotation #Commodities #AI #AssetAllocation #WealthManagement
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Hype vs Deployment: Derek Yan on Humanoid Robotics, KOID ETF, and the Global AI Arms Race
17/02/2026 | 20 mins.
In this episode of Lead-Lag Live, I sit down with Derek Yan, Senior Investment Strategist at KraneShares, to discuss whether humanoid robotics is a real commercialization story or just the next overhyped thematic trade.

From factory deployment by Tesla, BMW, and Amazon to China’s aggressive industrial push, Yan explains why embodied AI may represent the next structural shift in automation — and how the KraneShares Global Humanoid and Embodied Intelligence ETF $KOID captures the full ecosystem beyond mega-cap names like Nvidia and Tesla.

In this episode:
– Why humanoid robotics is already entering commercialization
– How equal weighting avoids mega-cap concentration
– What Morgan Stanley’s trillion-dollar projections really mean
– Why China exposure is a feature, not a bug
– The key milestones that signal mass deployment is coming

Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.

#HumanoidRobotics #EmbodiedAI #ArtificialIntelligence #ThematicInvesting #EmergingTech #ETF
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Playing Offense With Wealth: Grant Cardone on Bitcoin, Real Estate, and Conviction
17/02/2026 | 34 mins.
In this episode of Lead-Lag Live, I sit down with Grant Cardone for a wide-ranging and unusually candid conversation on Bitcoin, real estate, and what it really means to invest with conviction.

Grant is blunt about one thing most people never admit: even after buying Bitcoin for years, he doesn’t pretend certainty. He openly talks about the discomfort of drawdowns, the difference between conviction and having a low cost basis, and why buying through volatility matters more than sounding confident online. Rather than selling a perfect narrative, he’s honest about doubt, risk, and why not investing at all is the bigger danger.

From Bitcoin as a technology of money to real estate as a long-term cash-flow engine, Grant explains how wealthy investors think about scale, units, and holding assets through cycles instead of trading headlines.

In this episode:
– Why Grant says saving money destroys wealth
– How he thinks about Bitcoin without pretending certainty
– The difference between conviction and a cheap entry price
– Why wealthy investors focus on units, not price
– How Bitcoin and real estate play different roles in long-term wealth

Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.

#GrantCardone #Bitcoin #WealthBuilding #InvestingMindset #FinancialFreedom #StockMarket
#RealEstate #Crypto
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Trust Is Gone: Ted Oakley on Inflation, Fed Failure, and Why Energy Looks Undervalued
11/02/2026 | 15 mins.
In this episode of Lead-Lag Live, I sit down with Ted Oakley, Founder of Oxbow Advisors, to break down why inflation remains sticky, why investors should be skeptical of Federal Reserve guidance, and where real value may be emerging beneath the surface of today’s market.

With more than four decades of experience advising high-net-worth investors, Ted explains why mega-cap stocks now represent concentration risk, why energy is one of the cheapest areas in the market, and how separating base capital from investment capital helps investors survive volatile cycles.

In this episode:
– Why Ted says the Fed is consistently late and unreliable
– What the latest CPI and PPI data reveal about persistent inflation
– Why mega-cap stocks may carry more risk than reward
– How energy offers income and value in an uncertain macro backdrop
– Why separating base capital from risk capital matters in downturns

Lead-Lag Live brings you inside conversations with the financial thinkers who shape markets. Subscribe for interviews that go deeper than the noise.

#Inflation #FederalReserve #EnergyStocks #MarketRisk #IncomeInvesting #StockMarket #Macro #PortfolioStrategy #Investing
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About Lead-Lag Live

Welcome to the Lead-Lag Live podcast, where we bring you live unscripted conversations with thought leaders in the world of finance, economics, and investing. Hosted by Melanie Schaffer each episode dives deep into the minds of industry experts to discuss current market trends, investment strategies, and the global economic landscape.In this exciting series, you'll have the rare opportunity to join Melanie Schaffer as she connects with prominent thought leaders for captivating discussions in real-time. The Lead-Lag Live podcast aims to provide valuable insights, analysis, and actionable advice for investors and financial professionals alike.As a dedicated listener, you can expect to hear from renowned financial experts, best-selling authors, and market strategists as they share their wealth of knowledge and experience. With a focus on topical issues and their potential impact on financial markets, these live unscripted conversations will ensure that you stay informed and ahead of the curve.Subscribe to the Lead-Lag Live podcast and follow @leadlagmedia on X to stay updated on upcoming live conversations and to gain exclusive access to a treasure trove of financial wisdom. Don't miss out on this incredible opportunity to learn from the best and brightest minds in the business.Join us on this journey as we explore the complex world of finance and investments, one live unscripted conversation at a time. Be sure to like, comment, and share the Lead-Lag Live podcast with your network to help others discover these invaluable insights.Stay tuned for the latest episode of the Lead-Lag Live podcast, and remember to turn on notifications so you never miss a live conversation with your favorite thought leaders. Happy listening!

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