Bloomberg Surveillance Single Best Idea with Tom Keene: Julian Emanuel & Jonathan Maxwell
Jan 21, 2026
In a fascinating discussion, experts Julian Emanuel and Jonathan Maxwell delve into the intersection of AI-related debt fears and tech equity opportunities. Emanuel forecasts potential for low double-digit earnings growth in the coming years, while Maxwell explores the Arctic's role in resource competition and geopolitical tensions. With insights on the geology beneath the Arctic Ocean, they highlight crucial regions like Greenland and Russia. This engaging conversation uncovers how these factors shape the future of commodities and global strategy.
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Contrarian Setup From AI Debt Angst
- Market skepticism on AI and debt financing creates a contrarian investment setup.
- Julian Emanuel sees potential for low double-digit earnings growth if stimuli emerge in 2026.
Earnings Upside Hinges On Stimuli
- Julian Emanuel models toward low double-digit earnings growth in coming quarters.
- He frames the outcome as dependent on available stimuli rather than a firm prediction.
Arctic As A Growing Geopolitical Flashpoint
- Jonathan Maxwell described the Arctic as an underappreciated geopolitical flashpoint rich in resources.
- He used his book The Edge to frame the Arctic as part of several emerging competition zones for energy and capital.
