Closing Bell Overtime: VC Investor Vinod Khosla on Silicon Valley Bank Fallout and BILL CEO Rene LeCerte on Financing Silicon Valley Startups After SVB’s Collapse; Best Week For Nasdaq in Months 3/17/23

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 17 March 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dow ends week slightly lower but S&P 500 and Nasdaq power higher despite volatility. Crossmark’s Bob Doll and 3Fourteen Research’s Warren Pies talk the market action ahead of next week’s Fed decision. Meanwhile, Rockefeller International’s Ruchir Sharma on the disconnect between financial markets and geopolitical risks. Broadmoor’s Todd Baker breaks down who might buy Signature Bank, while Julia Boorstin talks the new coalition in Washington aiming to take down Tiktok. Contessa Brewer talks some hidden winners of March Madness. Plus, Jon Fortt sits down with VC investor Vinod Khosla on what advice he is giving his companies around future financing and BILL CEO Rene LeCerte on how the company is helping former clients of Silicon Valley Bank.

Transcript

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0:00.0	Well that is the scorecard on Wall Street and for the week but the action is just
0:05.7	getting started. Winter stay late even on Friday. Welcome to Closing Bell overtime.
0:09.6	I am John Ford with Morgan Brennan. It was an ugly day on Wall Street
0:13.4	as banking fears continued to rattle the market,
0:15.5	but for the week, not too shabby.
0:17.8	The NASDAQ actually rallying more than 4% for the week.
0:21.7	Coming up, Rockefeller International Chairman Rishir Sharma on what could be another under
0:26.8	the radar risk that investors need to be watching right now.
0:31.0	But right now, let's get right to our market panel.
0:34.2	Joining us now, Bob Dahl from Crossmark Global Investments and Warren Pies from
0:38.0	314 Research.
0:39.8	Happy Friday guys.
0:40.9	Bob, big rally in bonds this week with the bank trouble and the expectation
0:45.9	that the feds may be closer to done with hikes.
0:48.9	Then we would have thought a couple weeks ago.
0:51.1	But if you were holding Mega Cap Tech, for example, ahead of this week, you did very well.
0:55.4	But what do investors do now?
0:57.6	Do they sell that and put it somewhere else?
1:01.9	I think the bond move was just unbelievable, highest volatility in bonds in years.
1:07.0	The 10-year moving roundly from a 4 to 3. a half below that, a hundred basis points lower in the two year, it's just incredible.
1:17.0	My view is that some of what we just talked about is a little overdone.
1:21.0	In other words, at the margin, I want to trim tech and buy a bank or two. I think
	...

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