WEBVTT - Single Best Idea with Tom Keene: Stuart Kaiser & Monica DiCenso

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>Single, best Idea. What an eventful day. Thank you to

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<v Speaker 2>Charlie Pellett for stopping by. You know, we make a

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<v Speaker 2>joke about it Europe on five dollars a day with

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<v Speaker 2>Charlie Pellett. And of course all of you nationwide know

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<v Speaker 2>his voice from the New York subways stand clear of

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<v Speaker 2>the closing door. What an honor to have him ring

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<v Speaker 2>a bell with Ken Prut years ago at the New

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<v Speaker 2>York Stock Exchange and celebration of our anniversary at the time.

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<v Speaker 2>Good to have Charlie Inn and Shnali Bassek I thought

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<v Speaker 2>was just riveting frankly on a huge bonus season for

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<v Speaker 2>Global Wall Street, American Wall Street in New York Wall

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<v Speaker 2>Street as well. We appreciate her time. First off, Stuart

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<v Speaker 2>Kaiser came back too quick to get a longer chat.

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<v Speaker 2>Next time with City Group. He's got a very different job.

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<v Speaker 2>It's much more trading. It's not three years in a hold.

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<v Speaker 2>It's much more simple nuances of where we are in

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<v Speaker 2>the market. Back and forth, and David Gura went to

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<v Speaker 2>him on Deep Seek the uproar of two weeks ago

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<v Speaker 2>and Stuart Kaiser constructive on Deep Seek.

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<v Speaker 3>On the Deep Seak side, my takeaway it's a little

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<v Speaker 3>bit more of a positive spin would be that this

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<v Speaker 3>reaffirms that this is a core, key investable theme you

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<v Speaker 3>have to have in your equity portfolio. What Deep Seak

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<v Speaker 3>did is I think it changed the way people are

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<v Speaker 3>investing in it. It sort of got them out of

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<v Speaker 3>Semmes more into the software space things of that.

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<v Speaker 2>I don't think it changed.

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<v Speaker 3>I don't think it changed that this is it as

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<v Speaker 3>a theme, but people have rearranged the.

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<v Speaker 2>Detectare Stuart Kaiser there and this is really something that's

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<v Speaker 2>going to percolate forward. The theme of AI off of vernings,

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<v Speaker 2>Thank you Ragrana and man Deep Singh, was a supply

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<v Speaker 2>and demand theme where the demand is there and they're

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<v Speaker 2>struggling to keep up with supply, and that overlays into

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<v Speaker 2>the open AI Altman Musk thing Tom mackenzie with that

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<v Speaker 2>great interview with Sam Altman in Paris, and then of

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<v Speaker 2>course overlays into like this quarter and this year and

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<v Speaker 2>where are we in AI in twelve months if you know,

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<v Speaker 2>let me know, I have no clue where we're going

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<v Speaker 2>to that, but smart talk from Stuart Kaiser Monica Decenzo

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<v Speaker 2>does very serious JP Morgan Private Bank counseling the Family office.

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<v Speaker 2>It was fascinating conversation. Talked a lot about like when

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<v Speaker 2>the children don't agree within a family office, those kind

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<v Speaker 2>of things. Here is something that comes up always at

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<v Speaker 2>a family office. Monica Decenzo on gold.

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<v Speaker 1>We've been talking about gold for a couple of years now.

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<v Speaker 1>I was up twenty eight percent or so last year.

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<v Speaker 1>I think it's really after twenty eight percent on hard

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<v Speaker 1>to go long out right. That said, I have clients

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<v Speaker 1>who don't have very high allocations, so we've been doing

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<v Speaker 1>there's interesting skew in gold. People are still trying to

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<v Speaker 1>buy call to buy upside. So if you own gold

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<v Speaker 1>out right right here, you want to buy some, you

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<v Speaker 1>can caller that position cashless. The most you can lose

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<v Speaker 1>in the years five percent. The most you can gaid

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<v Speaker 1>is thirteen percent. By the way, if you make thirteen

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<v Speaker 1>percent in gold, that's more than I think you're going

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<v Speaker 1>to make an US equities and that's gold.

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<v Speaker 2>Never have I had a Family Office member executive, I

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<v Speaker 2>should say, talk about a collared put call trade on gold.

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<v Speaker 2>That was a first for the show back decades. What

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<v Speaker 2>an interesting week. We've got a lot of economic data

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<v Speaker 2>coming up CPI, PPI, the Business Inflation Index on Thursday,

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<v Speaker 2>and then retail sales on Friday. I really can't say

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<v Speaker 2>enough about the lassitude around all the political noise we're seeing.

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<v Speaker 2>Our radar is up. We're staying as focused as we

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<v Speaker 2>can on economics, finance, investment, in international relations. We're on YouTube,

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<v Speaker 2>on YouTube podcast, don't forget YouTube, Premium single, Best Idea

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<v Speaker 2>seven