Bloomberg Surveillance Single Best Idea with Tom Keene: Troy Gayeski
Nov 7, 2025
Troy Gayeski, Chief Market Strategist at Future Standard, shares his insights on market dynamics and AI-related investments. He discusses the tension between hefty AI spending, which benefits companies like NVIDIA, and the sustainability of future cash flows. Gayeski forecasts a near-term market consolidation, expecting fundamentals to regain importance after recent earnings reports. He also adds a personal touch by recounting his struggles with thermodynamics during his early days at MIT, making for an engaging and informative conversation.
AI Snips
Chapters
Transcript
Episode notes
Personal Take On Shutdown Pain
- Tom Keene shares personal concern about the government shutdown's real economic pain.
- He highlights missed paychecks and operational disruptions like TSA five weeks into the shutdown.
AI Spending Drives Market Leadership
- AI capex, especially NVIDIA and hardware, is driving current market leadership but raises sustainability questions.
- Troy Gayeski says fundamentals will reassert after a consolidation period around AI stocks.
Wait For Earnings And Consolidation
- Wait through the expected consolidation before trading for material upside.
- Use NVIDIA's upcoming earnings as a catalyst to reassess positions when fundamentals reassert.