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Sonali Basak

@sonalibasak • 60,735 subscribers

Chief Investment Strategist for iCapital. Previously anchor for @BloombergTV & journalist @business. @NYUStern MBA. Views are my own.

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THE AI MANHATTAN PROJECT: Rob Sechan of New Edge is behind one of the fastest growing wealth managers in the country. He thinks AI is the Manhattan Project. When asked about whether clients can really diversify away from the technology in their portfolios, Rob’s thinking: In any crisis, correlations go to 1 anyway.” Here’s the full interview:

THE AI MANHATTAN PROJECT: Rob Sechan of New Edge is behind one of the fastest growing wealth managers in the country. He thinks AI is the Manhattan Project. When asked about whether clients can really diversify away from the technology in their portfolios, Rob’s thinking: In any crisis, correlations go to 1 anyway.” Here’s the full interview:

932,780 views • 3 months ago

A QUANT’S APPROACH: I always love sitting down with Clifford Asness, who cofounded AQR and grew it into a $240 billion quantitative investing giant. We talk about how to think about value, the edge you can get from alternative data and whether we are in a bubble. (Hint: he believes we aren’t!!) Here’s our full interview where we nerd out for about an hour:

A QUANT’S APPROACH: I always love sitting down with Clifford Asness, who cofounded AQR and grew it into a $240 billion quantitative investing giant. We talk about how to think about value, the edge you can get from alternative data and whether we are in a bubble. (Hint: he believes we aren’t!!) Here’s our full interview where we nerd out for about an hour:

426,288 views • 1 month ago

GOLDMAN’S IPO THINKING: In an exclusive, the bank’s president talks me through the psychology of a mega-listing. He doesn’t speak to SpaceX or OpenAI directly, though it’s widely known they have a key role (and for Anthropic as well, and many of the bank’s clients already have ample exposure to all three private firms). Here’s how he’s thinking about the fundraisers this year — including the elevated retail allocations. Full episode for The Bridge:

GOLDMAN’S IPO THINKING: In an exclusive, the bank’s president talks me through the psychology of a mega-listing. He doesn’t speak to SpaceX or OpenAI directly, though it’s widely known they have a key role (and for Anthropic as well, and many of the bank’s clients already have ample exposure to all three private firms). Here’s how he’s thinking about the fundraisers this year — including the elevated retail allocations. Full episode for The Bridge:

420,569 views • 3 months ago

SPACEX IPO COUNTDOWN: In my own rounds with investors, it’s not about whether the IPOs will be successful for the big three looking to list this year. It’s about the lockups and whether big pre-IPO investors will meaningfully sell. It’s about how investors may have to rebalance, and what that means for the AI theme writ large. And it’s about earnings — how public market investors react as cash burn remains elevated. My view? I believe SpaceX, Anthropic and OpenAI will all likely have to raise even more money within six months of listing. They would look to equity and debt markets, both private and public. It’s going to be a big six months ahead!! A big thank you to Charles V Payne for having me on the show. Full interview here:

SPACEX IPO COUNTDOWN: In my own rounds with investors, it’s not about whether the IPOs will be successful for the big three looking to list this year. It’s about the lockups and whether big pre-IPO investors will meaningfully sell. It’s about how investors may have to rebalance, and what that means for the AI theme writ large. And it’s about earnings — how public market investors react as cash burn remains elevated. My view? I believe SpaceX, Anthropic and OpenAI will all likely have to raise even more money within six months of listing. They would look to equity and debt markets, both private and public. It’s going to be a big six months ahead!! A big thank you to Charles V Payne for having me on the show. Full interview here:

88,664 views • 2 months ago

When he turns 80, billionaire Todd Boehly wants Eldridge to be worth $1 trillion. Here’s another person who has closely studied Warren Buffett and is building a company in Berkshire’s likeness. The secret: Compounding.

When he turns 80, billionaire Todd Boehly wants Eldridge to be worth $1 trillion. Here’s another person who has closely studied Warren Buffett and is building a company in Berkshire’s likeness. The secret: Compounding.

264,613 views • 1 year ago

BEHIND THE CAPEX BOOM: In an interview with CNBC’s Michael Santoli this week, we explore how to think about the next leg of the AI capex cycle. There’s been a world awash with liquidity for the first half of 2026, and conditions are set to tighten. But this doesn’t need to overly upset the AI buildout. What it does mean, though, is that capex will likely be more expensive. And there are a few reasons for that: 📈 Yields have been elevated and the 10-year is close to 4.8%, a level that’s tended to dent risk appetite. 💰With a higher-for-longer environment plus spreads beginning to widen, this simply increases the cost of borrowing that will support the AI buildout for companies that have increased risk profiles due to pressure on free cash flow. ⚡️The buildout will require more investment in communities. Power, as an example, where there is a real need for more spend. One consideration: Will hyperscalers need to help subsidize the grid in regions with constrained capacity? This is a building idea, top of mind for infrastructure investors. 🧾 The price tag is rising partially because the bill is getting longer. Add supply chain constraints, higher energy costs and a memory shortage and you easily see why a more than $800 billion buildout this year can turn closer to $1.5 trillion for next year. Full conversation in the link. Thank you to CNBCOvertime for having me:

BEHIND THE CAPEX BOOM: In an interview with CNBC’s Michael Santoli this week, we explore how to think about the next leg of the AI capex cycle. There’s been a world awash with liquidity for the first half of 2026, and conditions are set to tighten. But this doesn’t need to overly upset the AI buildout. What it does mean, though, is that capex will likely be more expensive. And there are a few reasons for that: 📈 Yields have been elevated and the 10-year is close to 4.8%, a level that’s tended to dent risk appetite. 💰With a higher-for-longer environment plus spreads beginning to widen, this simply increases the cost of borrowing that will support the AI buildout for companies that have increased risk profiles due to pressure on free cash flow. ⚡️The buildout will require more investment in communities. Power, as an example, where there is a real need for more spend. One consideration: Will hyperscalers need to help subsidize the grid in regions with constrained capacity? This is a building idea, top of mind for infrastructure investors. 🧾 The price tag is rising partially because the bill is getting longer. Add supply chain constraints, higher energy costs and a memory shortage and you easily see why a more than $800 billion buildout this year can turn closer to $1.5 trillion for next year. Full conversation in the link. Thank you to CNBCOvertime for having me:

15,168 views • 18 days ago

Greetings from Hong Kong!! Ahead of a conversation with the HK venture capital association. Bring me your questions - excited to report back.

Greetings from Hong Kong!! Ahead of a conversation with the HK venture capital association. Bring me your questions - excited to report back.

18,025 views • 2 months ago

HYPERSCALER WATCH: Earnings season begins in a few days and hyperscalers are starting to look more attractive. They have been broadly left behind this year despite an ability to compete on multiple dimensions of the AI supply chain. However — beware the one hit wonders. There have been a lot of one time gains (tax benefits and private investments) and early 2026 tailwinds that could begin to fade. Even if the frontier labs contribute to future results, it’s likely to be at a slower growth rate that would need to be offset. It’s an important quarter for the group, a “show me” story that could kick off greater interest in the trade. Monetization matters. Full interview for CNBCOvertime -

HYPERSCALER WATCH: Earnings season begins in a few days and hyperscalers are starting to look more attractive. They have been broadly left behind this year despite an ability to compete on multiple dimensions of the AI supply chain. However — beware the one hit wonders. There have been a lot of one time gains (tax benefits and private investments) and early 2026 tailwinds that could begin to fade. Even if the frontier labs contribute to future results, it’s likely to be at a slower growth rate that would need to be offset. It’s an important quarter for the group, a “show me” story that could kick off greater interest in the trade. Monetization matters. Full interview for CNBCOvertime -

12,057 views • 1 month ago

STABLECOIN WATCH: Apollo’s chief economist explains why tokenized funds are going to be a major consideration for the Treasury market in the future. It’s the intersection of crypto, fiscal pressures and the most important debt market on the planet. More from our conversation:

STABLECOIN WATCH: Apollo’s chief economist explains why tokenized funds are going to be a major consideration for the Treasury market in the future. It’s the intersection of crypto, fiscal pressures and the most important debt market on the planet. More from our conversation:

31,840 views • 7 months ago

APOLLO’S VIEW: Torsten Slok has certainly always made waves for his conviction in markets. Ahead of the FOMC meeting he tells me interest rates are going to be higher for longer — because inflation is going to be higher for longer. Interview:

APOLLO’S VIEW: Torsten Slok has certainly always made waves for his conviction in markets. Ahead of the FOMC meeting he tells me interest rates are going to be higher for longer — because inflation is going to be higher for longer. Interview:

21,366 views • 7 months ago

GOLDMAN’S ‘ROBOTS’ The commentary around human assembly lines (h/t Carl Quintanilla) got a lot of attention — here’s more about how Goldman’s president sees automation impacting the investment banking industry. John Waldron also told me that software engineers are getting roughly 30% more efficient within the bank — meaning they can pump out more output. IMO: whether or not headcount is impacted at the largest banks and financial firms, it’s pretty darn obvious at this point that AI literacy is a must have, not need to have. Full conversation:

GOLDMAN’S ‘ROBOTS’ The commentary around human assembly lines (h/t Carl Quintanilla) got a lot of attention — here’s more about how Goldman’s president sees automation impacting the investment banking industry. John Waldron also told me that software engineers are getting roughly 30% more efficient within the bank — meaning they can pump out more output. IMO: whether or not headcount is impacted at the largest banks and financial firms, it’s pretty darn obvious at this point that AI literacy is a must have, not need to have. Full conversation:

11,729 views • 3 months ago

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