RUSH TRANSCRIPT Let s ░░░░░░░░ some more advice from ░░░░░░░░ the chief investment officer ░░░░░░░░ s wbc who joins ░░░░░░░░ now Any essence we ░░░░░░░░ take away from today ░░░░░░░░ blood in the water ░░░░░░░░ is a difficult thing ░░░░░░░░ might happen A little ░░░░░░░░ correcting around the holiday ░░░░░░░░ and pullbacks always help ░░░░░░░░ such a robust year ░░░░░░░░ really to take away ░░░░░░░░ this other than buyers ░░░░░░░░ how are you thinking ░░░░░░░░ the new year Just ░░░░░░░░ through the first 90 ░░░░░░░░ of a Trump White ░░░░░░░░ before you think definitively ░░░░░░░░ a narrative for 2025 ░░░░░░░░ terms of investing Chris ░░░░░░░░ think I m got ░░░░░░░░ thoughts ahead of time ░░░░░░░░ always want to see ░░░░░░░░ happens 90 days in ░░░░░░░░ as you prepare and ░░░░░░░░ about the year ahead ░░░░░░░░ can kinda forecast what ░░░░░░░░ happen and the policies ░░░░░░░░ be aware of Some ░░░░░░░░ to benefit from the ░░░░░░░░ Administration Policies from steeper ░░░░░░░░ curve There are opportunities ░░░░░░░░ there and you have ░░░░░░░░ be on your front ░░░░░░░░ to grab them and ░░░░░░░░ optimize your portfolio returns ░░░░░░░░ you have teased us ░░░░░░░░ ve got to tell ░░░░░░░░ what are they At ░░░░░░░░ some of them Chris ░░░░░░░░ course I m really ░░░░░░░░ on financials I think ░░░░░░░░ in the financial space ░░░░░░░░ benefit from the steeper ░░░░░░░░ curve The yield curve ░░░░░░░░ been inverted for the ░░░░░░░░ inversion in quite a ░░░░░░░░ of time Now that ░░░░░░░░ is steeper again it ░░░░░░░░ opportunities Anything with financial ░░░░░░░░ will have an opportunity ░░░░░░░░ progress Companies that can ░░░░░░░░ from personal portfolio investing ░░░░░░░░ I m looking at ░░░░░░░░ kbw bank index up ░░░░░░░░ It has seen quite ░░░░░░░░ run since the election ░░░░░░░░ financial backing is pretty ░░░░░░░░ Is this the big ░░░░░░░░ or the middle ground ░░░░░░░░ that the charge card ░░░░░░░░ What do you find ░░░░░░░░ appealing at this point ░░░░░░░░ looking at some of ░░░░░░░░ big banks definitely Jamie ░░░░░░░░ has a great platform ░░░░░░░░ they are expanding and ░░░░░░░░ kind of like the ░░░░░░░░ in the banking space ░░░░░░░░ want to be aware ░░░░░░░░ things that might affect ░░░░░░░░ and opportunity Are they ░░░░░░░░ invested in commercial real ░░░░░░░░ That can be a ░░░░░░░░ of a drag for ░░░░░░░░ and know what you ░░░░░░░░ getting into I do ░░░░░░░░ some consolidation in the ░░░░░░░░ year and you can ░░░░░░░░ smaller banks being gobbled ░░░░░░░░ or even some consolidation ░░░░░░░░ the small to midsized ░░░░░░░░ Vonnie would it be ░░░░░░░░ opportunity to play them ░░░░░░░░ all In hopes that ░░░░░░░░ might be a target ░░░░░░░░ acquisition Chris I think ░░░░░░░░ I think there might ░░░░░░░░ opportunity for acquisition gains ░░░░░░░░ that space Buying into ░░░░░░░░ space would be a ░░░░░░░░ overall play There are ░░░░░░░░ opportunities in the small ░░░░░░░░ midsized banks that investors ░░░░░░░░ continue Vonnie curious as ░░░░░░░░ your thoughts on international ░░░░░░░░ It does seem like ░░░░░░░░ S stocks have had ░░░░░░░░ great run but you ░░░░░░░░ to look outside the ░░░░░░░░ S sometimes as well ░░░░░░░░ saw India habits run ░░░░░░░░ having a bit of ░░░░░░░░ question over its growth ░░░░░░░░ year and the potential ░░░░░░░░ stimulus Any companies outside ░░░░░░░░ U S you are ░░░░░░░░ in Chris I think ░░░░░░░░ dollar will perform well ░░░░░░░░ that could be a ░░░░░░░░ to domestic equities versus ░░░░░░░░ foreign currencies I think ░░░░░░░░ eurozone will start to ░░░░░░░░ a little bit better ░░░░░░░░ there are definitely opportunities ░░░░░░░░ that space When you ░░░░░░░░ outside of the euro ░░░░░░░░ looking at foreign countries ░░░░░░░░ India there is opportunity ░░░░░░░░ I m a little ░░░░░░░░ skeptical on their overall ░░░░░░░░ versus the dollar Carol ░░░░░░░░ much of a risky ░░░░░░░░ is that I m ░░░░░░░░ at the msci index ░░░░░░░░ is up 22 so ░░░░░░░░ below what the U ░░░░░░░░ market performed How risky ░░░░░░░░ a bet even if ░░░░░░░░ is undervalued fundamentally How ░░░░░░░░ risk is it in ░░░░░░░░ outside the U S ░░░░░░░░ now Chris you are ░░░░░░░░ on a little bit ░░░░░░░░ risk that s a ░░░░░░░░ fair point a little ░░░░░░░░ of a reversion to ░░░░░░░░ mean theory in terms ░░░░░░░░ thinking U S Performance ░░░░░░░░ come down European might ░░░░░░░░ might pick up Both ░░░░░░░░ them are reverting to ░░░░░░░░ normal relationship and therein ░░░░░░░░ the rub Carol the ░░░░░░░░ Tech cap names really ░░░░░░░░ the markets higher this ░░░░░░░░ Are you in or ░░░░░░░░ Where are you Chris ░░░░░░░░ m still in you ░░░░░░░░ discount them Nvidia will ░░░░░░░░ grinding away keep performing ░░░░░░░░ s a matter of ░░░░░░░░ can benefit as an ░░░░░░░░ basis around that I ░░░░░░░░ some energy plays that ░░░░░░░░ benefit from the huge ░░░░░░░░ opportunity out there that ░░░░░░░░ require a lot of ░░░░░░░░ and therefore that is ░░░░░░░░ the opportunity lies Carol ░░░░░░░░ s hard to step ░░░░░░░░ and the energy play ░░░░░░░░ fascinating in terms of ░░░░░░░░ will be necessary really ░░░░░░░░ fuel all those data ░░░░░░░░ required by AI Chris ░░░░░░░░ holidays happy new year ░░░░░░░░ chief investment officer at ░░░░░░░░ I do think that ░░░░░░░░ an interesting play because ░░░░░░░░ euphoria over AI it ░░░░░░░░ out there but in ░░░░░░░░ of data centers and ░░░░░░░░ buildout and the necessary ░░░░░░░░ for all those computations ░░░░░░░░ will require a lot ░░░░░░░░ spending and infrastructure build ░░░░░░░░ you just got to ░░░░░░░░ an eye on that ░░░░░░░░ that is what was ░░░░░░░░ the big gains as ░░░░░░░░ for vstra Everyone says ░░░░░░░░ t market time,