Closing Bell: Overtime: Cowboy Ventures Founder Aileen On Finding The Next Wave Of Unicorns; Nuveen CIO Gives Her 2024 Playbook 01/18/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 18 January 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks closed near session highs and powered higher throughout the final hours of trading; RBC Head of US Equity Strategy Lori Calvasina on if the early-year mini-swoon is over. Humana’s worst day since June 2023 after warning its costs would be higher-than-expected; Mizuho’s Jared Holz on what it means and how to play the sector. Nuveen CIO Saira Malik, who oversees $100B+ in AUM, talks her 2024 playbook. Cowboy Ventures’ Aileen Lee coined the term “unicorn” for private companies in 2013; now she’s back on what the next decade will look like. Plus, former Fed Vice Chair Alan Blinder on the Fed’s next moves and Citi’s Drew Pettit on playing fintech names.

Transcript

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0:00.0	Green across the board for the major averages particularly strong day for the
0:07.2	Nasdaq that's a scorecard on Wall Street but winter's stay late
0:10.0	welcome to closing bell overtime I'm John Fort.
0:12.5	Morgan Brennan is off today.
0:14.3	Stocks staging a late session turnaround led by the tech sector which continues to
0:18.7	outperform the broader market.
0:20.4	Coming up, Nouveen Chief Investment Officer Sarah Malik reveals her 2024 playbook and the opportunities
0:27.4	she sees in this choppy market.
0:29.0	Later on, a rare interview with the venture capitalist to coin the term unicorns to describe the startups
0:34.5	valued over a billion dollars. Cowboy Ventures founder Aline Lee discusses
0:39.8	rising valuations and why companies are staying private now longer.
0:44.0	But let's dive into today's action with our first guest.
0:47.6	Joining us now is Lori Kavasina from RBC capital markets.
0:51.6	Lori, Nasdaq's having a strong day here. Jobless claims down is good news, good news?
0:59.0	Well, I think at least for today it is. I do think it depends on what
1:04.8	lens you're looking through if you're a proponent of the mega cap growth
1:07.6	stocks, if you're a proponent of the broadening out thesis. I think what we've
1:11.7	really seen is there's been an ongoing debate about what do you do with these big cap tech stocks
1:16.1	the mag seven comes up in just about every meeting I would say that we have and continues to be a source of our incoming call volume.
1:23.2	And what we've really noticed is that the broadening out of the US equity market
1:26.9	that we saw at the end of last year really happened as people got more optimistic
1:30.4	about the Fed as 10-year Treasury yields peaked and moved lower that really
	...

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