Single Best Idea with Tom Keene: Seema Shah & Greg Boutle
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Bloomberg Audio Studios. Podcasts, radio, news. Single best idea, and on a Friday, things can change. One of the huge advantages Paul and I have

in terms of just looking at the market, equities, bonds, currencies, commodities, is a thing called Bloomberg Launchpad. That's a software. It's on the terminal. You can only get it if you're a terminal user. But the terminal is sort of separate. And then you bring up this separate package which can customize and show you any data you want.

in equities, bonds, currencies, commodities. It's phenomenal. When I say, OMG, Turkish lira, it's almost a 40. I'm getting that off USDTRY, which is a symbol, and I'm getting that off the Bloomberg launchpad. And the Bloomberg launchpad pulses. It's got red and green, and it has a cadence. This morning, it was sleepy third week of August, fourth week of August cadence. And then it was not. And of course, that was a presidential tweet.

on China. Thank you to Enda Kern in Washington for giving us wonderful perspective of how China will respond to the fury of the President of the United States over the tariff trade discussions with the Pacific Rim and with China. We started out with Seema Shah in London with principal asset management.

Seema Shah here on how the continent and now the city, how London looks at the Mag7. I think we're just as obsessed with it as the U.S. is.

When we're talking to investors in the UK, it's the same kind of questions. They're obsessed with the big tech trade. They want to know which is going to persist or is it something which has maybe run its course. But if you're looking at it again, over a longer term perspective, you don't see that investors are losing much interest. They're just looking for what is the buying opportunity

when can we really buy the dip if there is going to be another dip? Seema Shah, Principal of Asset Management, Live on Tech. Thank you so much to Dan Ives, particularly this week, for his perspective on NVIDIA and other worthies as well. Joining us as well, Greg Motto with BNP Paribas. He's different. He's an equity strategist, but it's really wrapped around derivative dynamics and use of derivatives to support a stock market belief. He's very big right now.

on hedging where you own a stock and you write a call and write means you W-R-I-T-E, write like with a pencil. You bring in premium, which adds to your return immediately. And the price of that is you give up any ginormous upside value down the road. Here, Greg Bottle on option writing.

think you have to think about what are the risks that you are worried about. What are you trying to hedge? Is it more idiosyncratic, stock-specific, or are we looking for more macro hedges? We've been talking more about looking at macro hedges, but going a little bit out the term structure, out to see the September expiry, where we think some of the macro weakness could start to manifest a little bit more. I think the smaller mid-caps, so the Russell, I'd

If you want to be nakedly short the market, then you have to be willing to accept the risk that comes with it. For us, we think there is better risk-reward profile in putting on hedges on the downside, owning optionality, than there is naked short selling. In Tumalcho's Times, Greg Baudelaire trying to make a little more

We say good morning to you across the nation and around the world. A major shout out and a real theme of mine into June of this year is I completely underestimate the audience of Sirius XM.

It's old technology. It's not fancy digital. But it is a wow that we see the response to what we're doing on SiriusXM channel 120 at one. We're on YouTube. Subscribe to Bloomberg Podcasts and out at YouTube Podcasts. It's the single best idea.

Thank you.

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