Chase & David are back for episode 30, diving into a market that keeps defying a normal playbook. Oil is up, rates are elevated, inflation is sticky — three headwinds that historically hurt equities — yet the market keeps grinding higher. They break down what's actually driving the disconnect, why it's unusual, and why the real opportunities are hiding in the themes the rally has left behind.

Then they get into Jensen Huang's five-layer cake framework for AI infrastructure — a mental model they've adopted at Doxa for thinking about where value accrues across the AI stack. From chips to models to applications, they walk through each layer and what it means for positioning.

(5:10) The Market Disconnect

(23:40) Forgotten Opportunities

(30:30) 5-Layer Cake

Nothing we say here is investment advice – we don't know your personal situation, your goals, or any other variables that we use to create a unique financial and investment plan for you and your family. We're here just chatting and of course you're welcome to reach out to anyone at Doxa Capital if you are interested in a plan that complies with your financial situation. The views expressed are that of Chase and David and should not be held as representations of their respective firms.

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