Jeremy Schwartz says today is nothing like 2000. The expanded tech sector trades around a 22 forward P/E, Tesla is the only big stock priced like the dot-com era, and for public market investors there's no real bubble. If anything, he says, AI adoption hasn't even reached the national anthem.

On Convergence, our series with WisdomTree, WisdomTree's Global Chief Investment Officer explains why markets are climbing a wall of worry with reasonable valuations, why he doesn't see a dramatic Fed hiking cycle, and how people across his firm built around 60 apps in five months by vibe coding, which makes him want more people using these tools, not fewer. He breaks down WisdomTree's push into tokenization, from tokenized gold to a tokenized money market fund that can now trade 24/7, and why tokenized ETFs are coming as the SEC pushes progress forward. He also previews the new collaboration with Return Stacked ETFs and explains why a few percent in Bitcoin makes sense as a diversifier in multi-asset portfolios.

Jeremy Schwartz is Global Chief Investment Officer at WisdomTree and co-author of Stocks for the Long Run with Professor Jeremy Siegel.

The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.

Timestamps:

00:00 Intro

04:16 Today Is Nothing Like 2000

07:25 AI Is Still In The Earliest Innings

12:03 Vibe Coding 60 Apps In Five Months

18:36 From Gold To Tokenized Gold

24:39 Tokenization Is Coming For Your Checking Account

32:25 Tokenized ETFs Are Coming

Guest Socials:

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WisdomTree X: https://x.com/WisdomTreeFunds

Partners:

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Learn more here: https://www.zama.org/

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Jeremy Schwartz: Today Is Nothing Like The 2000 Tech Bubble

The Rollup

Jeremy Schwartz: Today Is Nothing Like The 2000 Tech Bubble