8/18/2026 - Could AI Concentration in the S&P 500 Lead to Another Boom-and-Bust Cycle? How Could a Wealth Tax Affect Investment and Portfolio Management?

Hey, folks.

Welcome to Two Question Tuesday.

I'm Bob Sellers, formerly of CNBC and Fox News, of course.

And we're joined by Phil D'Angelo, Managing Director of Focus Wealth Management.

And today, we're also joined by Matt Wyant.

He's Investment Analyst Lead for the firm.

He plays a role in supporting the firm's portfolio management and investment strategy, researching global markets, assisting in the development of investment strategies.

and supports the management of the firm's portfolios.

That sounds like a pretty important guy if you ask me.

So, gentlemen, let's start off with a question that was actually submitted by somebody in New York, someone named Alan from New York.

And here it is.

And I'll start with you on this, Phil, with you first.

Hey, folks.

Welcome to Two Question Tuesday.

I'm Bob Sellers, formerly of CNBC and Fox News, of course.

And we're joined by Phil D'Angelo, Managing Director of Focus Wealth Management.

And today, we're also joined by Matt Wyant.

He's Investment Analyst Lead for the firm.

He plays a role in supporting the firm's portfolio management and investment strategy, researching global markets, assisting in the development of investment strategies.

and supports the management of the firm's portfolios.

That sounds like a pretty important guy if you ask me.

So, gentlemen, let's start off with a question that was actually submitted by somebody in New York, someone named Alan from New York.

And here it is.

And I'll start with you on this, Phil, with you first.