6 stocks to buy now from top-1% portfolio manager | Nancy Tengler, Laffer Tengler Investments
Full Signal
Phil Rosen
4.8 • 18 Ratings
🗓️ 16 December 2025
⏱️ 33 minutes
🧾️ Download transcript
Summary
Nancy Tengler is the CEO and CIO of Laffer Tengler Investments. She’s spent four decades on Wall Street, and has been a top-1% portfolio manager for the last 11 years. She joined Phil Rosen to discuss her highest conviction stock picks for 2026, dot-com bubble comparisons, risks in the AI economy, and how she’s thinking about the tech trade right now.
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0:00 - Intro
0:25 - Bullish on stocks
2:20 - Earnings driving stocks
4:30 - AI bubble debate
7:30 - Circular financing and OpenAI
9:00 - AI and job market
10:30 - Walmart
12:15 - AMD
14:00 - Public & Generated Assets
15:20 - DR Horton
17:25 - Quanta Services
18:55 - How to value AI stocks
21:45 - Tesla
26:00 - Crowdstrike
28:55 - Nancy’s ETF strategy
30:20 - ServiceNow
Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
#podcast #investing #markets #macro #stocks #bitcoin #fed
Transcript
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| 0:00.0 | What's up guys? We have an amazing episode today with Nancy Tangler. She is the chief executive |
| 0:04.9 | and chief investment officer of Laffer Tangler investments. And she's been a top 1% portfolio |
| 0:10.7 | manager for the last decade. She spent 40 years on Wall Street. And in today's conversation, |
| 0:15.3 | she shared her six highest conviction stock picks for 2026. This episode is full of alpha. You definitely do not want to |
| 0:22.7 | skip it. I hope you enjoy this conversation. Nancy, you've been super optimistic all year. |
| 0:29.5 | You've been bullish when everyone was selling. You were bullish during deep seek, during tariffs. |
| 0:34.3 | Can you walk us through some of the rationale behind why you've been optimistic on stocks all |
| 0:39.2 | year? Yeah. Well, so, Phil, I've been drawing an analogy for three or maybe four years to the |
| 0:44.5 | 1990s when I was a younger portfolio manager. And there are a lot of similarities, but I don't |
| 0:50.4 | want to get caught up in the whole bubble talk because I've also don't believe we're in a, I don't believe we're in a bubble. But at that time, you had more sort of morbin |
| 0:59.1 | growth as we were going into the 90s. There was a recession. And you had interest rates at a |
| 1:03.7 | pretty high rate. So the Fed funds rate averaged 5% all year, inflation average all decades, |
| 1:09.1 | sorry, inflation average 3% all decade. And you had an |
| 1:14.0 | environment that was where there was a tremendous amount of CAP-X spending, but there wasn't |
| 1:21.5 | necessarily a lot of growth. And so the question was, you know, how did stocks appreciate then and why and why was GDP growth? I mean, we went into the decade. I think we were at one or two percent. And GDP growth accelerated due to productivity. And this felt a lot like that to me. And so we started looking at the historical, you know, comparable periods. |
| 1:45.7 | And the 90s, I know some people have equated the current environment to the 70s, some back to the 20s, but it felt a lot like the 90s to me. |
| 1:53.4 | And so what we learned from that is that you could see companies like Microsoft, which was simply a software company that worked on PCs, |
| 2:02.6 | grow into something much more powerful. |
| 2:04.6 | And so we began to look at the names that we really wanted to own for the next three to five years, |
| 2:10.6 | and we used the volatility and weakness as an opportunity to add to holdings. |
| 2:15.6 | So I know something you've been pointing to a lot these days |
| 2:19.2 | is the strength of earnings, and that's one of the reasons why I think is why you don't think |
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