Karen Finerman
speaker
87 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
Karen Finerman’s voice in public audio — every appearance, attributed to the second.
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Appearances
How am I doing? I mean, it's exhausting. I have to say it's exhausting and you know, you just never know what you're going to find. And this idea of there could be monumental news at any moment. is it's tiring.
Well, I'm on, you know, I'm on the computer all day long and just. At any moment, it could be something really market moving. So you have to sort of be in this high level of, you know. High alert. High alert, exactly. So has your investing strategy changed since Liberation Day? Liberation Day? No, it hasn't. It hasn't worked. I can tell you that. You know, I'm always long.
I have various hedges on, but always, always net long, very net long. And that's been the strategy for years and years. And You know, it's painful when you are long going into the pandemic or going into the great financial crisis or whatever it might be. But the idea of sort of being able to market time, so know when to sell, know when to get back in, and then understand.
have that gap be wider than whatever taxes you might pay, to me is just a strategy that is too difficult. So I don't try to do it. But what I do try to do, one of my favorite quotes, which I always come to is, buy when there's blood on the streets, even if it is your own. And I can tell you recently, there's been a lot of my own. So I look at the VIX.
I don't know how closely you follow the VIX, but it's sort of in no man's land now. It was up in the 50s. So I'd be a buyer when it's terrifying. It's not low enough now. It's in limbo at, I don't know, 30 where it is right now. So I'm not really doing much, just being exhausted.
So the VIX is really, it is a measurement of how likely the volatility is in the market at more than 1% on any given day, but it's really become known to be the sort of fear-greed index. So when the VIX is really low, and the kind of lowest I've ever seen it drag along for a long time is low double digits, so, you know, 11 or 12. And then in periods of high uncertainty.
So the highest I've ever seen it is during the pandemic, during the really, really dark, dark days of the pandemic, as high as about 80 intraday, maybe. So... Now the VIX has gone from mid-teens to as high as 56. I guess it was Tuesday morning. Was that when the bottom was sort of the... I can't even remember all the days. So it hit somewhere in the mid-50s. And I like when the VIX is super high.
I like when things start trading down integers at a time because that just tells me someone just wants to get out regardless of price. And if I own that, that's not fun. But if I can buy more at a price where I'm buying from someone who says, I don't care what price I'm selling it. I just need to get out. That's ultimately been a good thing to do in the past. Historically been a good thing to do.
Exactly. You know, we shop. We love to get things on sale. We do not want our stocks on sale. That feels bad.
So, well, you know, I have a lot of meta, very big position. So that, you know, that that's been a, a very difficult one. I have Netflix as well, sort of hanging in the best. Amazon, which I have, I like a lot. I like how they're positioned, particularly in tough times like this. But the stock's down, I don't know where it is today, 172 or 173, I don't know the moment, but it's down considerably.
And I still believe in the AI story. I still believe in AWS. And then they have this remarkable retailing business, gigantic retailing business. So that hasn't been fun. The banks, JP Morgan, my biggest bank position, went to 280, probably shouldn't have been at 280, and then went down to about 210. So that's a fair amount of pain. Citigroup.
I could go, I don't know how long this podcast is, but I could go on and on for a while of things that haven't worked.
Right.
Well, Dell certainly is most in the crosshairs of all of them. The tariff wars, you know, it was somewhat of a reprieve. I don't know that it's a permanent reprieve of China. We'll see. But the combination of the concern about AI and data center growth, that's obviously right in Dell's wheelhouse. And then
Aside from that business, there's also the PC business, and that has sort of slowed, but also the PC business really is affected a lot by tariffs. So that's been the most painful one. But Alibaba having an amazing year. That's been having an amazing year. Yeah. I feel like there was sort of not regime change because the regime is exactly the same, but a change in policy.
And that doesn't have tariff issues, right? They do very little business in the United States. And they have a huge business. They have a huge cloud business. They have, I mean, they're in so many different things, logistics, and they really are a conglomerate. They have an extraordinary amount of cash. And it's not expensive. So but it's subject to who knows? Who knows?
I did buy some more Alibaba Friday, I think Thursday, Friday. I think that even in the situation that we're in, that China really feels that they need to support their economy. And that that will that will benefit Alibaba. So I have added.
I own some FXI. I own K-Web. So some ETFs. But that's the only individual stock that I own.
Right. So that doesn't affect Alibaba as much. So Timu and Xi'an, that's really affecting them. And I think we're also going to see Meta is sort of a collateral damage there as well. Not this Super Bowl, but the one before that. It seemed like every other ad was Timu, Xi'an. So we're going to see a meaningful contraction there. And those are big advertisers.
So I think that's part of what's weighing down meta. I mean, you've got a lot of things, but that you've got the lawsuit.
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