PGA Tour CEO Exclusive and David Kelly Talks Investing | Bloomberg Money 8/7/2026

Watch on YouTube ↗  |  August 08, 2026 at 11:02  |  46:31  |  Bloomberg Markets
Speakers
Meredith Whitney — Founder, Meredith Whitney Advisory Group
David Kelly — Chief Global Strategist, J.P. Morgan Asset Management

Summary

The episode features interviews with Meredith Whitney on consumer credit, banks, and personal investing, and David Kelly on market strategy and retirement. Whitney advises avoiding bank stocks for dividend yield and highlights a long position in manufactured home builder Champagne Homes. Kelly argues against holding excess cash, advocates staying invested in the broad market, and recommends increasing international equity exposure due to a declining dollar. The show also covers a PGA Tour interview about golf's business transformation.

  • Meredith Whitney sees better dividend opportunities outside banks, citing reduced bank payout attractiveness.
  • She personally bought Champagne Homes, a manufactured home builder, on housing policy tailwinds.
  • David Kelly says investors hold too much cash; a 60/40 portfolio historically outperforms cash over time.
  • Kelly highlights underweight international equity positions and the potential boost from a weakening US dollar.
  • The PGA Tour is restructuring with a new commercial model and media strategy, though not directly a market call.
Ideas
Meredith Whitney Founder, Meredith Whitney Advisory Group 17:42
Avoid banks for dividend yield.
Banks have pulled back from paying rich dividends and are buying back shares at high valuations; better dividend vehicles exist outside of banks.
KBE MED
Meredith Whitney Founder, Meredith Whitney Advisory Group 20:16
Buy manufactured home builder Champagne Homes.
Affordable housing legislation and repeal of chassis law will dramatically increase production for manufactured homes, making Champagne Homes an attractive investment.
Champagne Homes MED
David Kelly Chief Global Strategist, J.P. Morgan Asset Management 27:12
Invest in broad market over cash.
Over various time horizons, a 60/40 balanced portfolio significantly outperforms cash; many investors hold too much cash and should be invested in the broad market.
SPY MED
David Kelly Chief Global Strategist, J.P. Morgan Asset Management 29:22
Buy international equities for dollar decline.
US dollar has been declining and may continue to decline, which will amplify returns on international investments; American investors are underweight international equities and should increase allocation.
VXUS MED
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This Bloomberg Markets video, published August 08, 2026, features Meredith Whitney, David Kelly discussing KBE, Champagne Homes, SPY, VXUS. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Meredith Whitney, David Kelly  · Tickers: KBE, Champagne Homes, SPY, VXUS