Ferraris, Advil and AI Chips: 10 Companies to Watch Right Now

Summary

---

Bloomberg Businessweek

Episode: "Ferraris, Advil and AI Chips: 10 Companies to Watch Right Now"

Date: April 9, 2026
Hosts: Carol Massar & Tim Stenovec
Guest: Tim Craighead (Senior European Strategist & Director of Research Content, Bloomberg Intelligence)

---

Episode Overview

This episode centers on Bloomberg Intelligence’s mid-year list of "10 Companies to Watch," highlighting innovative firms with critical upcoming catalysts that set them apart from the original annual "50 Companies to Watch." The hosts, joined by Tim Craighead, deep dive into trends driving these selections—from luxury cars and AI chips to shifting dynamics in finance, sports betting, and international competition—shedding light on the broader forces shaping today's complex business landscape.

---

Key Discussion Points & Insights

1. How the Watch List is Built

• Universe & Filtering:
  • Bloomberg Intelligence covers 2,500+ global companies.
  • The “focus ideas” list narrows this to ~125 high-conviction picks, each with unique, fundamental calls and upcoming catalysts.
  • The annual “50 Companies to Watch” zeroes in on those with major catalysts in the new year. This list is a subset for Q2: “10 companies that have second quarter specific catalysts ahead that we think are important.” (Tim Craighead, 03:09)
• Methodology:
  • Selection driven by bottom-up analyst insights—not algorithms.
  • Picks are “fundamental analyst ideas” where consensus may be underestimating a major event or transition.

---

2. Automotive Innovation: Ferrari

• Why Ferrari?
  • Chosen for its product-driven growth and ability to withstand macro volatility.
  • New car models including the F80 and the electric Lux are ramping, fueling ongoing demand.
  • “People still buy Beamers, people still buy Ferraris. And those who can buy a Ferrari aren't really impacted by some of the things going on in the world of geoeconomics these days.” (Tim Craighead, 05:05)
• Pricing Power:
  • Ferrari’s average car price has climbed 24% in five years yet is “sold out through 2027.” (Tim Stenovec, 06:05)

Notable Quote:

“They've got a three year wait list on stuff that costs a lot of money.”
— Tim Craighead (06:05)

---

3. AI Chips: Broadcom’s Secret Advantage

• Beyond Nvidia:
  • Although Nvidia dominates LLM training, Broadcom’s custom ASIC (“XPU”) chips are optimized for AI inferencing—deploying AI models in business tasks.
  • “They're specialized chips that don’t train the big LLMs, but... are great and a lot cheaper at doing the same thing over and over again.” (Tim Craighead, 06:40)
• Why It Matters:
  • The shift from training to inferencing signals maturation and scaling of AI in business.

---

4. Healthcare Tech: Dexcom’s Wearable Monitors

• Product Evolution:
  • Dexcom’s 10-day glucose monitors for diabetes management now upgraded to a 15-day version, offering enhanced quality of life and higher profitability.
  • “The new win that’s now ramping is a 15-day, not a 10-day. And so it extends it and it's more profitable for the company.” (Tim Craighead, 08:29)
• Insurance Coverage:
  • Adoption is supported by growing insurance reimbursement.

---

5. Financials: New Dynamics in Banking & Exchanges

a) Deutsche Bank

• Catalysts:
  • German government stimulus targeting defense/infrastructure propels domestic lending.
  • “It’s a good thing for Deutsche Bank. Spreads are also quite wide, its capital structure is quite strong.” (Tim Craighead, 09:24)
  • Expected upside in earnings & buybacks.

b) Japan Exchange Group

• Japan’s Bull Market:
  • “The Japanese stock market has been on fire... as you trade more there's a... cash cushion... [and] they earn interest... as trading goes up and... interest rates go up, they get a double benefit.” (Tim Craighead, 10:13)
• Global Attention:
  • Surging international investment and trading volumes.

c) Magellan Financial

• Australia’s Asset Management Star:
  • Major acquisition expanding assets under management.
  • High payout ratio.
  • “That's not in analyst expectations yet... how the earnings from the new acquisition will flow through... we think there's upside accordingly.” (Tim Craighead, 11:31)

---

6. Competition & Disruption: DraftKings & Meituan

a) DraftKings (Sports Betting)

• Prediction Markets Vs. Sports Betting:
  • New prediction apps (e.g., Kalshi, Poly Market) spike during high-profile sports events.
  • Kalshi had more recent downloads, but DraftKings’ “installed base is still far, far larger... and they're also launching their own prediction app.” (Tim Craighead, 13:16)
• Stock Volatility:
  • Shares down 30% YTD amid competitive fears, but the team anticipates “better than expected earnings coming up.”

b) Meituan (China’s Delivery Giant)

• Expansion & Threats:
  • Diversifying into grocery and travel with quick delivery (like Uber Eats or Deliveroo).
  • Faces rising competition, particularly from Alibaba in rapid or "insta" shopping.
  • “We think consensus is underestimating the costs that Meituan is going to be incurring to drive their business forward with increasing competition.” (Tim Craighead, 15:37)

---

7. Geopolitics & Macro Risks (Europe Focus)

• Defense Stocks:
  No defense companies in current list: “Everybody loves defense right now,” but the list is purposely “against consensus.” (15:46)
• Energy & War in Europe:
  • European exposure to energy shocks and war in the Middle East is a major risk.
  • “Europe is more exposed to the energy issue... the focus is on how long is the constraint of commercial traffic through the Strait of Hormuz.” (Tim Craighead, 16:14)
• Stimulus Uncertainty:
  • “All of these things were coming together and now, you know, the Iran war takes place and all of that’s been thrown out the window.” (Tim Craighead, 16:27)

---

Notable Quotes & Memorable Moments

• On Analyst Process:
  “These are bottom up analyst ideas... where consensus may be underestimating a major event or transition.” (Tim Craighead, 04:06)
• On Ferrari’s Wait List:
  “They've got a three year wait list on stuff that costs a lot of money.” (Tim Craighead, 06:05)
• On Broadcom’s AI Chips:
  “[Broadcom’s ASICs] are great and a lot cheaper at doing the same thing over and over again.” (Tim Craighead, 06:40)
• On Dexcom:
  “You’re talking not pricking your fingers. You know, it’s a vast change in quality.” (Tim Craighead, 08:27)
• On Japan Exchange:
  “As trading activity ramps, these guys just benefit... there is a a cash cushion... they earn interest... as trading goes up and the cash expands and interest rates go up, they get a double benefit.” (Tim Craighead, 10:13)
• On Geopolitical Risks:
  “Europe is more sensitive and more exposed in many ways than... necessarily is the case here.” (Tim Craighead, 17:44)

---

Key Timestamps

[02:43] – Tim Craighead introduced; methodology for the watch list
[04:47] – Ferrari’s innovation, pricing power, and market resilience
[06:32] – Discussion shifts to Broadcom and the evolving AI chip landscape
[08:27] – Dexcom’s new 15-day glucose monitor and its impact
[09:24] – Financials: Deutsche Bank, Japan Exchange Group, Magellan
[12:22] – Competition: DraftKings’ response to prediction markets; Meituan in China
[15:37] – Discussion of costs, competition, and threats (Meituan example)
[16:14] – European economic outlook, impact of geopolitical risks and energy
[17:44] – Recap of European sensitivities and market focus

---

Final Thoughts

This episode provides a whirlwind global tour of top companies poised to shape or surprise markets in the coming quarter. The hosts, with insightful guidance from Tim Craighead, illustrate both the granular work of bottom-up stock selection and the broader economic/geo-political narratives shaping 2026 investment themes. From high-octane luxury to cutting-edge chips and the ever-present winds of international competition and uncertainty, each company tells a chapter of the global business story.

---

Transcript

[Host 1 (possibly Carol Massar)]

Is your multi entity management creating more confusion than clarity? You need the Intuit ERP Intuit Enterprise Suite. It's the AI native ERP solution that's powerful, painless and proven. Learn [e-mail] ERP.

[IBM Representative]

The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across hr, IT and procurement processes, we've reduced costs by millions, slashed repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business.

[The Hartford Representative]

IBM when you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, that isn't always easy. Risk can touch multiple parts of an organization at the same time, often in ways that aren't immediately obvious. It might involve property liability or cyber. It could stem from regulatory requirements or challenges tied to a specific industry or the scale of an operation. At that level, managing risk becomes an ongoing discipline, not a one time decision. the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. That means working with companies to identify where they're exposed, decide what matters most, and put practical standards in place so risk is managed as part of day to day operations. And when losses do happen, the Hartford can pair that risk control work with insurance coverage grounded in underwriting, risk engineering and claims experience developed over time. Learn [e-mail] riskmitigation

[Host 1 (possibly Carol Massar)]

Bloomberg Audio Studios Podcasts Radio news.

[Host 2 (possibly Tim Stanovec)]

You're listening to Bloomberg Business Week with

[Okta Representative]

Carol Massar and Tim Stanovec on Bloomberg Radio.

[Host 2 (possibly Tim Stanovec)]

Our Bloomberg intelligence team is amazing. You hear from them on our program almost every day. They're all over the world. They're out in the field. They talk to executives and customers. They crunch numbers. They're in the Excel docs, they're listening to those earnings calls. They're doing everything. They're writing research. You got to see their research.

[Host 1 (possibly Carol Massar)]

They're a gift man to us every day.

[Host 2 (possibly Tim Stanovec)]

You?

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah.

[Host 2 (possibly Tim Stanovec)]

If you're not new to our program, then you know that each January the team produces this list of 50 companies to watch at the beginning of the year. Tim Craighead is the man behind that list. Usually he's up late. He's joining us from London. Today though. We get him when it's still light outside.

[Host 1 (possibly Carol Massar)]

He's in town.

[Host 2 (possibly Tim Stanovec)]

He's in town.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

He's here.

[Host 2 (possibly Tim Stanovec)]

We're so happy to have him. Tim Craighead, Bloomberg Intelligence senior European Strategist. He's director of Research content. He joins us here in the Bloomberg Interactive Broker Studio. Welcome.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Nice to have you to be here.

[Host 2 (possibly Tim Stanovec)]

Okay, the headline is so good. Ferrari's Advil and AI chips. 10 companies to watch. Right now the big question that I think everybody has is how do you

[Host 1 (possibly Carol Massar)]

like our life in a nutshell?

[Host 2 (possibly Tim Stanovec)]

Well, how do you whittle down? How do you whittle down? Yeah, that's. Except for the Ferrari.

[Host 1 (possibly Carol Massar)]

Yeah, well, okay, that's a minor thing.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah.

[Host 1 (possibly Carol Massar)]

Everything else. Yes.

[Host 2 (possibly Tim Stanovec)]

How do you whittle this down not just from the 50 companies in January, but from the universe of companies that your team follows? Yeah.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

So. So we covered 2500 plus companies. So it's a lot of companies. And we have a list of ideas we call focus. Ideas that are high conviction, fundamental calls. We think revenue is going here, margins are going there. That is against consensus in some way. Market thinks differently. And there are catalysts ahead that we think could be triggers to change the market mentality. We've got about 125 of those currently. We zero in on the 50 for the year ahead because there's catalysts coming up in the new year and these 10 are just a subset. It's a different 10. None of these were on the 50. But 10 companies that have got second quarter specific catalysts ahead that we think are important.

[Host 1 (possibly Carol Massar)]

So do you come to these names, Tim, by doing some, I don't know, algorithm or something or do you. Or discussion or a combination of.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

It's a really good question. These are bottom up analyst ideas. Yeah. So, you know, you say Ferrari, you have to talk about Ferrari. Mike Dean is our, is our senior European Autos analyst. He has the good fortune of covering everything from Porsche to Ferrari to, you know, Lamborghini within vw. But he sees a new product driven story in Ferrari, has thought about what the implications are for its revenue and its profitability and that's what's. I'm sorry, this is terrible. But driving the idea, speeding to the idea.

[Host 2 (possibly Tim Stanovec)]

I love it.

[Host 1 (possibly Carol Massar)]

No, but you think about it, right? Because the car sector, it's kind of interesting. We've spent so much time talking EVs and other things, but this is certainly higher end and you know, so it's, it's product innovation models, but it's also like we've got wealthier consumers out there who have money to spend.

[IBM Representative]

Well, they.

[Host 1 (possibly Carol Massar)]

Or is that part of it?

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

It is, it's interesting because not to go too much Down a rabbit hole. But the European auto sector in particular, which you think you've got Mercedes and BMW and Porsche and Ferrari, among others, they had a really great idea coming into 2025 that ended up being a car crash. Sorry, all these puns. Because the world was moving EVs and lots of investment in it and then not. Yeah. And China was a big customer and then it wasn't. And all of that hit in 2025. Looking here now, we've got an awful lot of costs that have been taken out. The franchises are still quite good. People still buy Beamers, people still buy Ferraris. And those who can buy a Ferrari aren't really impacted by some of the things going on in the world of geoeconomics these days. And they've got a three year wait list on stuff that costs a lot of money.

[Host 2 (possibly Tim Stanovec)]

Yeah, it's pretty amazing. Even though the average price has jumped 24% in the past five years, Ferrari mains sold out through 2027.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Not bad.

[Host 2 (possibly Tim Stanovec)]

Serious pricing power.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah. And you know the, the F80, which is the new supercar that's starting to ramp, and the Lux, the new electric are one of our two of 20 new models coming over the course of the next couple of years. It's an ongoing flow.

[Host 1 (possibly Carol Massar)]

Where do you want to go next?

[Host 2 (possibly Tim Stanovec)]

I want to go to Broadcom.

[Host 1 (possibly Carol Massar)]

Okay, good. I'm glad because we talk a lot about this space, about AI.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah, yeah. This one's kind of cool. We've got a few different focus ideas that are different flavors of what this one specifically is. And it's about chips. Who is the big chip company that everybody focuses on? Nvidia, of course. And it makes the graphic processors that are powering the LLMs. What Broadcom has found that it has are customized, what are called ASICs. They're specialized chips that don't train the big LLMs, but they are very task specific and are great and a lot cheaper at doing the same thing over and over again. So when you start doing the inferencing or the using the AI for specific tasks, you use their XPU and it's growing like weeds, which is really fascinating

[Host 1 (possibly Carol Massar)]

because the conversation, if you think about it, what we are we in our third or fourth year of having it and just how it's evolved and the inferencing is something that we're hearing more

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

and more, the shift from training to inferencing as companies are actually starting to use this stuff in real business.

[Host 2 (possibly Tim Stanovec)]

But like, like Ferrari, there's a new product with this.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah.

[Host 2 (possibly Tim Stanovec)]

So there's like a theme.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

It's the ongoing development and use of XP use as inferencing takes off. And that is the new product story. The other, not to totally jump if you don't want to, but the other new product, Win that's interesting is Dexcom, which is probably a company that most of your listeners aren't familiar with medical devices. They make glucose monitors for diabetes and it's wearable, which is great. They've had a 10 day model out. So you're talking not pricking your fingers. You know, it's a vast change in quality.

[Host 1 (possibly Carol Massar)]

I know folks who have these monitors, they're game changers.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

And the new win that's now ramping is a 15 day, not a 10 day. And so it extends it and it's more profitable for the company.

[Host 2 (possibly Tim Stanovec)]

Yeah. What do you. And of course if you have a 10 day, that gives you a reason to buy that 15 day. The 10 day has changed your life.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah, yeah.

[Host 2 (possibly Tim Stanovec)]

50% more time without having to prick your finger.

[Host 1 (possibly Carol Massar)]

You stay with it. And there is insurance coverage of these monitors. So you think about that in terms of the marketplace.

[Host 2 (possibly Tim Stanovec)]

Elizabeth reminding us we had the Dexcom president and CEO Jake Leach on.

[Host 1 (possibly Carol Massar)]

We did.

[Host 2 (possibly Tim Stanovec)]

Back in January.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

We did.

[Host 2 (possibly Tim Stanovec)]

So if you missed that conversation. Yeah.

[Host 1 (possibly Carol Massar)]

And it was, it was kind of, it was kind of cool. All right, where do we want to go? So that's new product innovation. You do have like major themes. You have competition, financials.

[Host 2 (possibly Tim Stanovec)]

Let's. Do you want to do competition? What do you want to do?

[Host 1 (possibly Carol Massar)]

I kind of feel like we should do financials only because we have banks coming up.

[Host 2 (possibly Tim Stanovec)]

So we'll do competition.

[Host 1 (possibly Carol Massar)]

We have time. But so talk to us because you do have several financials. Deutsche Bank, Japan exchanges, Magellan. So tell us a little bit about the financial space.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

So, so Deutsche bank, so these are broad ranging for sure. Touch on various different elements. But you know, one of the things with banks is it's a finger of the pulse of the economy. And Deutsche bank sits in Germany. You know, the, the big stimulus driver for Europe is the German stimulus package to drive both defense and renewed infrastructure investment. That drives local lending, local business. And it's a good thing for Deutsche Bank. Spreads are also quite wide, its capital structure is quite strong. And we think all of this will flow through into earnings and buybacks that are going to surprise. The Japanese exchange is totally different. You know, this is the equivalent of the New York Stock Exchange.

[Host 1 (possibly Carol Massar)]

Right, right.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

The London Stock Exchange. And the Japanese stock market has been on fire. Much more attention shifting From a global investment perspective in Japan, as you all probably talk about from time to time and as trading activity ramps, these guys just benefit at the same time. Interest rates are actually ratcheting up in Japan. It's a, it's a long term critical story for Japan that plays into these guys because as you trade more there's a, there is a, a cash cushion that's part of the collateral when you're investing. They earn interest on that cash and so as trading goes up and the cash expands and interest rates go up, they get a double benefit. That's kind of cool.

[Host 1 (possibly Carol Massar)]

It does feel like in the last year or two, right. Japan has been the story on fire.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

The corporate governance story behind Japanese corporates have definitely been driving that bus.

[Host 1 (possibly Carol Massar)]

But it was a long time.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yes.

[Host 2 (possibly Tim Stanovec)]

And a great reminder, like I said, the team is all over the world and the ideas in here are truly global. Magellan is also on that list. Talk about how that fits.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

So that's an asset manager you all were talking about, you know, Invesco earlier today. Different, totally different story.

[Host 1 (possibly Carol Massar)]

He listens to us.

[Host 2 (possibly Tim Stanovec)]

Well, he was stuck here you are.

[Host 1 (possibly Carol Massar)]

That's right, you were.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

But Magellan Financial is a, is an asset manager. This falls under the M and A category. They made a big acquisition and it's boosting their assets under management quite, quite well. And they've got an 80% payout ratio. That is part of how they manage, you know, their, their financials. That's not in analyst expectations yet. From the standpoint of how the earnings from the new acquisition will flow through into these guys income and will feed through into dividends. We think there's upside accordingly.

[Host 1 (possibly Carol Massar)]

Is this at all related to Fidelity Magellan or. No, it's completely separate.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Sorry, this is an Australian based. Speaking of being all over the world. Yeah, Australian based asset manager.

[Host 1 (possibly Carol Massar)]

All right, let's go to. I know he's waiting.

[Host 2 (possibly Tim Stanovec)]

Yeah, I want to go to competition because you have some really interesting companies in here including one in the sports gambling. Indeed that has been.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

You all talk about prediction market

[Host 1 (possibly Carol Massar)]

today. Actually the screen right in front of me is Poly Market about when this war will end.

[Host 2 (possibly Tim Stanovec)]

There you are, you can actually access on the terminal. WSL Predict is a great shortcut to the prediction market data and it's aggregated here and it's sort of by like what is most active in terms of contracts and like you said, the most active. Carol Trump announces the end of military operations against Iran by question mark. So anyway, so good.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

So DraftKings.

[Host 1 (possibly Carol Massar)]

Yeah.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Sports betting. You've Got the. You've got the final tonight with the ncaa. There's probably something on the prediction markets for that too. You mind?

[Host 2 (possibly Tim Stanovec)]

Which is the issue for DraftKings that it's on prediction markets.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Well in exactly. And it goes back even to the super bowl period where you're going through the playoffs and there are tons of downloads of Kalshi prediction. Right. And that scared everybody that DraftKing and its sports betting stuff would suffer. True, the downloads were bigger on Kalshi but if you look at the installed base is still far, far larger for draftking its businesses we think going fine. And they're also launching their own prediction app. They will, they will be driving better business than everybody thinks is going to run into problems.

[Host 2 (possibly Tim Stanovec)]

So the team thinks that DraftKings will be able to hold a candle to the established prediction markets. Cauchy and Poly Market not publicly traded here in the U.S. correct.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Wow.

[Host 1 (possibly Carol Massar)]

So stock is down more than 30% year to date. We know because of concerns about competition and threats.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Concern of competition and you know, we would expect to see better than expected earnings coming up in the upcoming period as well as throughout this year. So quite interesting.

[Host 1 (possibly Carol Massar)]

It's been a fascinating market we talk about all the time. Where else should we go?

[Host 2 (possibly Tim Stanovec)]

We have made one.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah. So this is one that probably a lot of listeners aren't necessarily familiar with. Chinese company. They are, they are the biggest food deliverer delivery company in China. So you know, you think Uber Eats or for me in London Deliveroo. So that's it. But they've also gotten into other businesses of. Of everything from you order groceries and they'll deliver just like Uber eats. They'll also do travel related stuff. So they've extended themselves which on one hand is good. But there's also encroaching competition. Alibaba, which is the biggest of the e commerce companies is getting into this business in particular when in it's in that insta shopping stuff where you get 30, 30 minute delivery. So like immediate delivery of groceries and things like that. We think consensus is underestimating the costs that Meituan is going to be incurring to drive their business forward with increasing competition.

[Host 1 (possibly Carol Massar)]

So no defense companies, huh?

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Not on this.

[Host 1 (possibly Carol Massar)]

That was interesting.

[Host 2 (possibly Tim Stanovec)]

Against consensus, Carol.

[Host 1 (possibly Carol Massar)]

Against consensus. I know, I know, I know, I know, I know. Yeah, yeah, yeah.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Everybody loves defense right now.

[Host 1 (possibly Carol Massar)]

They really do. Right. It's just kind of which you know,

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

makes it interesting especially living in Europe where take a look at Ryan Mattel and some of these other defense related contractors. They've been on fire before you go,

[Host 1 (possibly Carol Massar)]

just quickly, because you are over in London and watching this war, you know, we obviously are covering day to day, what is the, the view, the perspective from there in terms of the impact and what's going on?

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

Yeah, I mean, I guess a couple things come up come to mind in a nutshell. Number one, this year was set up to be the good year. You actually started to see better economic statistics after a rather blah last year when the US Was doing better. There was the hope and expectation that interest rates were going to be coming down from both the BOE as well as the ecb. You had this stimulus initiative coming through and lots of discussion across other European governments to get behind some of the elements of infrastructure in defense spending domestically. You know, there's a lot of defense spending going on in Europe because of, you know, what's happened with Russia, Ukraine. But the hope has been that some of that could be done in Europe as opposed to buying from US Contractors. So all of these things were coming together and now, you know, the Iran war takes place and all of that's been thrown out the window. Europe is more exposed to the energy issue and set aside the war. The focus is on how long is the constraint of commercial traffic through the Strait of Hormuz. And that's what the focus is on. And we shall see.

[Host 1 (possibly Carol Massar)]

Yeah, there's so many, we talk about so many different things in headlines, but it really just comes down to that and we talk about, right, that's the main leverage for Iran. So you wonder about what kind of conditions they need or guarantees before that they open it up.

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

So the story is not off the, the off the rail for, for Europe, but it's more sensitive and more exposed in many ways than what necessarily is the case here.

[Host 1 (possibly Carol Massar)]

That's why we often talk about comparison between Brent and wti because then again,

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

look at the five dollar gasoline prices here and you know, it's not immune.

[Host 1 (possibly Carol Massar)]

Yeah.

[Host 2 (possibly Tim Stanovec)]

Tim Craighead, do not be a stranger. Come hang out with us in the interactive broker studio Pleasure Time.

[Host 1 (possibly Carol Massar)]

Great to have you here.

[Host 2 (possibly Tim Stanovec)]

Tim Craighead, Senior European Strategist and Director of Research Content for Bloomberg Intelligence

[Tim Craighead (Bloomberg Intelligence Senior European Strategist)]

when

[The Hartford Representative]

you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, risk can affect multiple parts of the organization at once, from property and liability to cyber and regulatory challenges. At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering and claims experience. Learn more@the Hartford.com riskmitigation policies provided by Harford Fire Insurance Company and its property and casualty affiliates, Hartford, Connecticut these days

[Okta Representative]

it seems like AI agents are just about everywhere you turn every field and every function. But without identity, you can't trust they'll serve your business instead of jeopardizing it. Fortunately, Okta helps you get identity right by securing your AI agents identities, giving you a single layer of control, a single standard of trust. So whether an AI agent supports a single user or your entire enterprise, with Okta you'll turn risk into opportunity. Secure every agent Secure any agent. Okta secures AI from coast to coast.

[Host 2 (possibly Tim Stanovec)]

Unlock adventure at Red Lion Hotels by Sonesta where restful sleep, friendly service and trusted local knowledge are part of every stay. Red lion makes it easy to feel welcomed, comfortable and connected wherever the road takes you. Whether you're traveling for business or pleasure, you can spend less and make more of every trip. When you sign up for Sonesta Travel Pass, you'll get their best rates instantly. Go to sonesta.com to book your stay and unlock the best rates with Sonesta Travel Pass Here today, roam tomorrow. Join [e-mail] Terms and conditions apply.