AI Summary
5 min read🎙️ The Voices & The Context
- The Format: Casual live podcast interview with hosts bantering pre-show, sponsor breaks, and deep market dives using charts.
- The Key Players:
- Hosts: Josh Brown (energetic market bull) and Michael Batnick (analytical co-host), with off-mic crew like Duncan adding laughs. Great chemistry—Josh drives hype, Michael probes.
- Guest: John Maury, CIO at NFJ Investment Group ($5B value equity firm). First-time podcaster; interesting as young outsider (homeschooled, dyslexic) who rose to lead via bold changes.
- The Vibe: Fun, intense, educational—finance nerd heaven with laughs, charts, and "water cooler" debates on market chaos.
🗝️ Key Themes & Topics
The episode mixes personal origin stories with timely market analysis amid software stock carnage (e.g., Adobe, Salesforce down 30%). Hosts and guest debate rotations, value resurgence, and bull market longevity.
- Topic 1: Personal Paths to Finance. Banter on Dallas visits, homeschooling stigma, dyslexia, and stumbling into investing (no Buffett kids here—internships and luck).
- Topic 2: Value Investing Evolution & Factor Decay. John's firm history: Post-2008 struggles from ETFs arbitraging "value" factors (low P/E, dividends). Shift to custom peer groups (e.g., Sherwin-Williams as chemical peer).
- Topic 3: Software Meltdown & Market Rotation. Vio
Continue reading the full summary in the app — free to try.
Read Full Summary →Free • No credit card required
What you'll learn
- 1 (00:00) **🎙️ Introduction: John Maury**
- 2 (13:22) **Dallas/Fort Worth Discussion**
- 3 (14:50) **Recent Market Volatility and Liquidations**
- 4 (15:23) **NFJ History and John's Career Path**
- 5 (22:27) **Value vs. Growth Evolution**
- 6 (29:26) **Software Sector Selloff Analysis**
- 7 (34:51) **Market Breadth and Rotation Charts**
+ Full timestamped outline available in the app
Show Notes
On episode 228 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by John Mowrey to discuss: the free fall in software stocks, what makes a value stock, how to measure a bear market, the crypto crash, and much more!
This episode is sponsored by WisdomTree and ClearBridge Investments.
- Learn more about OPPJ and the broader suite of geopolitical opportunity ETFs at https://www.wisdomtree.com/geopolitical-opportunities
- International and emerging market stocks outperformed the U.S. in 2025. At ClearBridge, we believe this momentum can continue. Find out more at https://www.clearbridge.com/
Sign up for The Compound Newsletter and never miss out: thecompoundnews.com/subscribe
Instagram: instagram.com/thecompoundnews
Twitter: twitter.com/thecompoundnews
LinkedIn: linkedin.com/company/the-compound-media/
TikTok: tiktok.com/@thecompoundnews
Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.
The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-d
More from this podcast
The Compound and Friends →