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Single, best Idea. What an eventful day. Thank you to Charlie Pellett for stopping by. You know, we make a joke about it Europe on five dollars a day with Charlie Pellett. And of course all of you nationwide know his voice from the New York subways stand clear of the closing door. What an honor to have him ring a bell with Ken Prut years ago at the New York Stock Exchange and celebration of our anniversary at the time.
Good to have Charlie Inn and Shnali Bassek I thought was just riveting frankly on a huge bonus season for Global Wall Street, American Wall Street in New York Wall Street as well. We appreciate her time. First off, Stuart Kaiser came back too quick to get a longer chat. Next time with City Group. He's got a very different job. It's much more trading. It's not three years in a hold. It's much more simple nuances of where we are in
the market. Back and forth, and David Gura went to him on Deep Seek the uproar of two weeks ago and Stuart Kaiser constructive on Deep Seek.
On the Deep Seak side, my takeaway it's a little bit more of a positive spin would be that this reaffirms that this is a core, key investable theme you have to have in your equity portfolio. What Deep Seak did is I think it changed the way people are investing in it. It sort of got them out of Semmes more into the software space things of that.
I don't think it changed.
I don't think it changed that this is it as a theme, but people have rearranged the.
Detectare Stuart Kaiser there and this is really something that's
going to percolate forward. The theme of AI off of vernings, Thank you Ragrana and man Deep Singh, was a supply and demand theme where the demand is there and they're struggling to keep up with supply, and that overlays into the open AI Altman Musk thing Tom mackenzie with that great interview with Sam Altman in Paris, and then of course overlays into like this quarter and this year and where are we in AI in twelve months if you know, let me know, I have no clue where we're going
to that, but smart talk from Stuart Kaiser Monica Decenzo does very serious JP Morgan Private Bank counseling the Family office. It was fascinating conversation. Talked a lot about like when the children don't agree within a family office, those kind of things. Here is something that comes up always at a family office. Monica Decenzo on gold.
We've been talking about gold for a couple of years now. I was up twenty eight percent or so last year. I think it's really after twenty eight percent on hard to go long out right. That said, I have clients who don't have very high allocations, so we've been doing there's interesting skew in gold. People are still trying to buy call to buy upside. So if you own gold out right right here, you want to buy some, you can caller that position cashless. The most you can lose
in the years five percent. The most you can gaid is thirteen percent. By the way, if you make thirteen percent in gold, that's more than I think you're going to make an US equities and that's gold.
Never have I had a Family Office member executive, I should say, talk about a collared put call trade on gold. That was a first for the show back decades. What an interesting week. We've got a lot of economic data coming up CPI, PPI, the Business Inflation Index on Thursday, and then retail sales on Friday. I really can't say enough about the lassitude around all the political noise we're seeing. Our radar is up. We're staying as focused as we
can on economics, finance, investment, in international relations. We're on YouTube, on YouTube podcast, don't forget YouTube, Premium single, Best Idea seven