Businessweek Live at Bloomberg Invest | Bloomberg Businessweek Daily 3/03/2026
Speakers
Summary
- Market Context (March 3, 2026): Markets are volatile due to US/Israel strikes on Iran. WTI Crude spiked (up ~5%) while equities (S&P 500) dipped but recovered off lows. Gold is down significantly (-3.8%).
- Brookfield's Stance: Despite geopolitical turmoil, Brookfield sees "better than ever" fundamentals in Data Centers and Energy. They view the Middle East instability as a short-term blip for long-duration assets.
- The Value Rotation: John Rogers predicts a "small recession" by year-end 2026 due to consumer fatigue but is aggressively buying Financials and Real Estate Services, arguing the "Mag 7" / AI-hype trade (specifically Palantir) is facing a dot-com style correction.
- Private Credit Warning: While Brookfield defends their asset-backed approach, they acknowledge "concerns" in the broader Direct Lending market regarding tight spreads and credit quality deterioration.
Trade Ideas
MongoDB stock is down ~20% on weak guidance. The CEO argues Q4 retention was strong (121%) and that AI workloads are being built but haven't scaled yet (implying future upside). The market fears AI (vector databases) will kill MongoDB. The CEO argues they are the platform *for* AI (citing JPMorgan and 11Labs). If the CEO is right, the 20% drop is an overreaction. However, the guidance was weak. WATCH. Wait for price stabilization. The "falling knife" is dangerous until AI revenue actually materializes in earnings. AI-native databases steal market share; consumption growth slows further.
Rogers names Jones Lang LaSalle (JLL) as a favorite, stating AI will make brokers more efficient rather than replacing them. The market has punished real estate services on fears that AI makes them obsolete and high rates kill commercial real estate. Rogers argues the "human touch" is still required for complex moves, and the stock is mispriced relative to its utility. LONG. Deep value play. Commercial Real Estate (CRE) collapse continues; AI displacement happens faster than anticipated.
Connor Teskey
CEO, Brookfield Asset Management
WTI Crude is up ~5% due to US/Israel strikes on Iran. Teskey reinforces that Energy fundamentals are strong. While the US President promised insurance/escorts for tankers, the risk premium in the Strait of Hormuz is real. Energy stocks and commodities act as the primary hedge against this geopolitical escalation. LONG. Geopolitical hedge. De-escalation or increased US supply floods the market.
John Rogers
Co-CEO, Ariel Investments
Rogers calls Financial Services "extremely cheap." He explicitly praises Lazard (LAZ) for M&A potential in a deregulated environment and Carlyle (CG) as oversold due to exaggerated private credit fears. Rogers believes the Trump administration (implied by "deregulated environment") will fuel deal-making. If rates come down (which he predicts the Fed will do to please the President), M&A activity explodes, directly benefiting advisory firms like Lazard and asset managers like Carlyle. LONG. A contrarian value play against the tech-heavy index. A "small recession" at year-end (which Rogers predicts) could freeze deal flow.
Connor Teskey
CEO, Brookfield Asset Management
Teskey states that despite the war in the Middle East, fundamentals for Data Centers and Energy are "better than ever before" and Brookfield is a "net beneficiary from AI penetration." The market is selling off on geopolitical fear. Brookfield manages real assets (infrastructure, energy) that are essential regardless of political administration. The dip provides an entry into a manager with massive exposure to the secular AI-infrastructure boom. LONG. High-conviction play on real asset demand. Escalation in the Strait of Hormuz could physically threaten assets, though Teskey claims they are diversified.
John Rogers
Co-CEO, Ariel Investments
Rogers compares the current tech environment to the Nifty 50/Dot-com bubble and explicitly says, "I have seen the Palantirs of the world started to have their comeuppance." He views the AI hype trade as overextended. When a disciplined value investor singles out a specific high-flyer as having a "comeuppance," it signals a rotation out of growth/momentum and into value. SHORT. Betting on multiple compression as the "AI bubble" deflates. AI mania continues; Palantir secures massive government defense contracts due to the Iran conflict.
Up Next
This Bloomberg Markets video, published March 03, 2026, features CJ Desai, John Rogers, Connor Teskey discussing MDB, JLL, USO, XLE, LAZ, CG, BAM, BN, PLTR. 6 trade ideas extracted by AI with direction and confidence scoring.
Speakers: CJ Desai, John Rogers, Connor Teskey · Tickers: MDB, JLL, USO, XLE, LAZ, CG, BAM, BN, PLTR