Investing Unscripted

In this episode, Jason and Jeff welcome semiconductor analyst Jose Najarro to unpack the current state of the AI and chip cycle. Jose explains why he views AI as an ongoing storm made of distinct waves—from consumer chatbots and coding tools to autonomous agents—and introduces "token economics" as the ultimate gauge for whether we are in an AI bubble. The trio explores why severe supply bottlenecks at gatekeepers like TSMC and ASML are actually preventing an inventory glut and extending the semiconductor supercycle. Plus, they break down why Nvidia looks attractively valued at 19x forward earnings, the growing importance of optical networking plays like Marvell, Astera Labs, and Credo, and the emerging cat-and-mouse game of AI-native cybersecurity.

02:29 Meet Jose Najarro

03:07 Jose Origin Story

05:07 Finding Investing Style

07:40 Index Core Strategy

11:00 AI Market Big Picture

11:50 AI Waves and Tokens

16:20 Bubble Risks and Bottlenecks

19:21 Supply Chain Value Chain

24:11 What Pops the Bubble

26:14 AI Bubble Warning Signs

27:46 Enterprise vs Consumer Demand

29:58 Frontier Models and Tokens

31:58 Pandora Box Cybersecurity

34:35 Where Value Is in AI

36:44 Networking and NVLink

40:32 Will AI Kill Us

44:25 Regulation and Cyber Investing

49:08 Where to Follow Jose

Companies mentioned: ALAB, AMD, AMZN, ASML, AVGO, CRDO, CRWV, CRWD, GD, GOOG, GOOGL, INTC, META, MRVL, MSFT, NVDA, PANW, S, TSM

Check out Jose:

https://www.whatthechiphappened.com/

https://www.youtube.com/channel/UC5cEHfCr6WOE1R1zcohd1IA

Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com

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In this October 2026 Mailbag, Jason and Jeff tackle listener questions on portfolio management, sector consolidation, and the psychology of holding laggards while the broader market sits near all-time highs. They evaluate whether Zeta Global's business intelligence tools pose a threat to TJX Companies' off-price retail moat, debate how to narrow down starter positions across housing and renewable energy stocks like Meritage Homes, Enphase, and First Solar, and dissect what to do when former long-term winners like MercadoLibre, Netflix, and Axon go through painful drawdowns. Plus, Jeff breaks down how doubling down on Texas Instruments at the bottom of the semiconductor cycle turned a 30% loser into a market-beating position.

01:15 Mailbag Kickoff

03:15 Housekeeping And Plugs

03:50 Zeta Vs TJX Question

08:42 Handling Stock Laggards

11:53 Conviction And Position Size

15:22 Diversification And Rebalancing

19:02 When To Sell For Cash

19:51 Consolidating Housing Bets

20:52 Homebuilders and Rate Cycles

22:03 Picking Strong Builders

23:10 Energy Picks and Brookfield

23:54 Enphase vs First Solar

24:46 Powering the AI Boom

25:37 Portfolio Strategy Options

27:35 Renewables Reality Check

29:21 Harry Portfolio Lagging

30:54 Winners Down From Highs

33:11 Reassess and Add Conviction

34:17 Axon as Case Study

35:08 Averaging Down Wisely

37:15 Businesses Change Over Time

39:31 Texas Instruments Numbers

41:17 Smooth Shill Callback

41:54 Mailbag Wrap and Reviews

Companies mentioned: ADBE, ADDYY, AXON, BEP, BEPC, BN, CROX, DFH, ENPH, FSLR, GRBK, ISRG, KNSL, LGIH, LULU, MDB, MELI, MTH, NFLX, ODFL, PYPL, RKT, TJX, TMDX, TSCO, TSM, TTWO, TXN, UA, UAA, VICI, VST, Z, ZETA, ZG

Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com

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Subscribe to our portfolio on Savvy Trader. Use code Unscripted2026 for 30% off a one-year subscription!
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In this episode, Jason and Jeff tackle the often-misunderstood world of fixed income to answer a critical question: Should you still own bonds? The hosts break down exactly why bond funds were decimated in 2022, the mechanics of the inverse correlation between interest rates and bond prices, and the vital difference between holding bond funds versus holding individual bonds to maturity. Finally, they explore why the current 5% yield environment makes fixed income a compelling wealth-preservation tool for investors looking to lock in their gains from the AI stock boom.

01:27 Soccer Versus Baseball

04:10 Why Bonds Now

05:36 Patreon Shoutouts

07:46 Rates Inflation And Stocks

15:07 Bond Crash Explained

19:42 Bond Funds Versus Bonds

21:31 Stocks Bonds And Allocation

23:26 Bonds Risk Basics

24:46 Why Bonds Now

25:30 Rates Perspective Shift

28:11 Fixed Income Case

30:22 Interest Rate Risk

32:18 Bond Types Explained

34:44 Junk Bond Reality

36:51 Bonds Versus Cash

38:30 Duration And Timeframes

42:32 Target Date Simplicity

45:34 Bond Selloff In Context

47:19 Yield Math Matters

49:54 Wrap Up And Disclaimers

Companies mentioned: AAPL, BND, BRK.B, HD, MCD, META, MSFT, TJX

Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com

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To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted

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In this completely unscripted episode, Jason and Jeff tackle the broad economic vibes surrounding the market’s resilience despite mounting geopolitical and macroeconomic uncertainty. The duo debates whether the normalization of sports betting and prediction markets is quietly threatening the culture of long-term stock investing. Plus, they unpack the complicated psychology of adding to massive winners, analyzing why Jason is considering a starter position in Broadcom despite its stretched valuation, and evaluating whether QuantumScape’s latest manufacturing pivots are a sign of commercial maturity or a yellow flag for a cult stock.

00:52 Show Vibe and Housekeeping

03:04 Market Vibes and Expectations

07:14 Gambling Culture Concerns

11:30 AI Fatigue and Speculation

16:43 Radar Stocks and Idea Generation

21:06 QuantumScape Deep Dive

24:40 Concerns About Cult Stocks

27:06 Covered Calls Rules

28:12 QuantumScape Shares Trap

29:21 When Not To Sell Calls

31:13 Meme Stock Vibes

32:30 QuantumScape Bull Case

35:14 Go To Market Pivot

38:40 Broadcom AI Thesis

43:31 Valuation And DCA

45:36 VMware Buffer Debate

47:49 Long Term AI Outlook

51:25 Podcast Plug And Wrap

Companies mentioned: AAPL, ASML, AVGO, BE, CMCSA, CSCO, DIS, GOOG, GOOGL, META, MSFT, NVDA, PLUG, QS

Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com

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To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted

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In the October 2026 First Fridays live stream, Jason and Jeff explore the broader macro vibes surrounding corporate fraud and regulatory boundaries, contrasting today's headlines with the Wild West of 1920s Wall Street. The duo unpacks CareTrust REIT's massive $1.2 billion expansion into the UK, evaluating the enduring power of the "aging baby boomer" demographic tailwind. Later, they debate how quickly "agentic AI" will disrupt e-commerce habits for companies like Amazon and Airbnb, and dissect why Zoom's shrinking enterprise base makes the stock virtually uninvestable despite its free cash flow.

01:56 Wrigley Field Promo Clip

02:52 Chat Greetings and Baseball Talk

06:30 Market Vibes Everything Is Fraud

08:04 Incentives and Man City Case

12:39 Old Wall Street Fraud History

17:29 CareTrust REIT UK Expansion

18:13 Why CareTrust Has Won

23:31 UK Healthcare and Capital Allocation

24:27 Selling CTRE and REIT Rate Sensitivity

26:25 Rates Hit REIT Valuations

27:14 Realty Income vs Diversifying

29:30 Why O Acts Like Bonds

31:31 CareTrust Growth Angle

32:45 REITs vs Bonds and T Bills

34:06 Cost of Capital Explained

37:30 Dividend Growth Comparison

38:39 Agentic AI Shopping Threat

45:58 Ads Trust and New Models

49:31 Zoom Stock Long Term View

54:52 Portfolio Contest and UNICEF

Companies mentioned: ABNB, AMZN, BKNG, CTRE, O, RMD, TJX, ZM

Find where to listen & subscribe, portfolio contests, and contact information at https://investingunscripted.com

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To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted

Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube

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Subscribe to our portfolio on Savvy Trader. Use code Unscripted2026 for 30% off a one-year subscription!
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