How to Build the "Sleep At Night Portfolio" | WAYT?

Watch on YouTube ↗  |  April 27, 2026 at 18:41  |  1:05:20  |  The Compound News
Speakers
Josh Brown — CEO, Ritholtz Wealth Management
Michael Batnick — Managing Partner, Ritholtz Wealth Management

Summary

Josh Brown and Michael Batnick preview Mag 7 earnings, discuss a historic earnings boom driven by tech and semiconductors, analyze the permanent portfolio as a low-volatility strategy, and highlight overbought conditions in chip stocks. Josh reveals his long positions in Amazon and Joby Aviation, the latter being a highly speculative bet on eVTOL air taxis.

  • Mag 7 earnings preview: Amazon, Microsoft, Meta, Apple report this week.
  • Earnings boom is broad-based with 16% S&P 500 earnings growth and revenue up 9.7%.
  • Semiconductor stocks are extremely overbought with RSIs above 80; professionals avoid buying at these levels.
  • The permanent portfolio (25% stocks, bonds, commodities, cash) offers sleep-at-night returns but underperforms in bull markets.
  • Joby Aviation's eVTOL technology is operational; Josh Brown owns it as a speculative long.
  • Robin Hood and Spotify faced market punishment for weak guidance or disappointing quarters.
  • Amazon is Josh's second largest position; he is sticking with it through earnings.
  • Nike is the smallest Dow component and considered a falling knife.
Trade Ideas
Josh Brown CEO, Ritholtz Wealth Management 9:30
Sticking with Amazon through earnings.
Josh Brown is sticking with his Amazon position through earnings because of strong AWS growth, the island reversal technical pattern, and his conviction that the stock will perform well despite possible weak guidance. He holds it as his second largest position.
AMZN MED
Josh Brown CEO, Ritholtz Wealth Management 41:59
Avoid buying semiconductor stocks now.
Semiconductor stocks are extremely overbought with RSIs above 80-88, making them poor entries for new positions. Professional investors avoid buying at such extreme momentum levels, and the likelihood of a reversal is high. He recommends waiting for better entry points.
SMH HIGH
Josh Brown CEO, Ritholtz Wealth Management 53:20
Highly speculative long on Joby Aviation.
Joby Aviation is a highly speculative long-term holding. Josh believes the company's eVTOL technology is revolutionary (quiet, redundant propellers, battery-powered), vertical integration mirrors successful companies like Tesla, and the product is now operational. He sees a potential 10x return but also acknowledges a risk of total loss. He recently bought more on the drawdown.
JOBY HIGH
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This The Compound News video, published April 27, 2026, features Josh Brown discussing AMZN, SMH, JOBY. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Josh Brown  · Tickers: AMZN, SMH, JOBY