Market capitalization

Capital Markets, we have Gerard Cassidy.

Evan Girard, he's a managing director, co-head of global financial research and large cap U.S. bank analyst at RBC.

And we're super thrilled to have him here.

We actually got him right after the Fed meeting, about a minute after the Fed met on Wednesday, what, September 16th.

Welcome to On the Balance Sheet.

We're very, very pleased to be joined by a special guest today on a Fed Day recording.

We have Gerard Cassidy, Managing Director, Co-Head of Global Financial Research and Large Cap U.S. Bank Analyst at RBC Capital Markets.

Gerard, how are you doing this afternoon? Very well.

I think there's an opportunity where you have, where you have gold, uh, and Bitcoin and, and you can use those for different, different aspects of portfolio management.

I think one of the things we've also seen, just in terms of adoption, and when you look at that market cap size, gold versus Bitcoin, in order to have the volumes to really meet the demand that gold plays in portfolios across institutional portfolios and more broadly across retail portfolios, we really need that larger market cap to continue to grow.

So right now, I think there's a place for both to continue to have a place in portfolio management and, and that's one of, one of the things we've seen across, uh, traditional finance overall.

Many times there is a gold positioner, they have a view, and they start thinking...

Ja, ich weiß den tollen nicht, wegen dem-

3 Billionen Market Cap, weiß ich, erreichen.

Das wäre irgendwie noch mal 50% mehr als SpaceX.

Das ist absolut wahnsinnig.

We recapped Nvidia's earnings in detail on yesterday's show, so definitely check that out if you missed it.

But yeah, Nvidia's stock had a huge day on Thursday, jumping 8.7%, which added $442 billion in market cap to the company.

That is the second-largest one-day increase in value for any company in history, trailing only Microsoft's $450 billion gain earlier this month.

What's interesting is that tech was the only sector in the S&P to finish higher yesterday.

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I'm now joined by Bob Hum, head of investment product and commercialization at SEI, who currently offers 11 ETFs, over $9 billion in assets, including an ETF that just launched a couple of weeks ago, the SEI Ang Research Enhanced US Large Cap ETF, ticker ANGU.

Though as I mentioned at the top, I feel like SEI has flown under the radar a bit on the ETF side, because this is an issuer who has grown from $2.5 billion in assets to over 9 billion just over the past 12 months.

And SEI overall, they manage, advise, or administer some $2.1 trillion in assets.

Uh, you know, I think the people that I've worked with, um, the work that we were able to do I think was fantastic.

And, and I think one thing that really w- drove home to me when I was at BlackRock and it, and, and I'm bringing to, to, to SEI is, is that I think clients are looking to do more with fewer, right? People no longer want to have- 10 different relationships with 10 different providers.

I think they're looking for areas where they can consolidate and thinking about doing more with few key partners, and I think that's what's really interesting about SEI being a diversified both technology and asset management company, is that I think we find opportunities to work with folks in, in unique ways over the-- and beyond maybe just, you know, our large cap value ETF is better than your large cap value.

I think there's other, uh, opportunities that we can, we can partner together.