May 29, 2025· 59 min

Michael Cembalest on Why AI Is the Stock Market Bet of the Century

Michael Cembalest

Orality

Model

50%

Speaker Breakdown

HostJoe Weisenthal(2,705 words)

M:94%

HostTracy Alloway(1,812 words)

M:28%

GuestMichael Cembalest(6,225 words)

M:28%

Oral Indicators

Agonistic33%

obviously, basically, very

Engagement68%

you, our, your

Memory Aids100%

listen, right, so

Repetition100%

know (103x), like (88x), yeah (86x)

Parallelism74%

And I'm Tracy Alloway...., So you should really just go g..., And I'm Joe Weisenthal....

Sound Patterns65%

78 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases7%

at the end of the day, you know what, i mean

Literate Indicators

Hedging7%

may, maybe, might

Passive Voice5%

are revealed, be backed, was called

Abstract Nouns20%

investment, business, chase.com/business

Subordination7%

although, since, because

Sentence Length33%

Avg: 13.3 words/sentence

Word Complexity47%

investment, analyze, anticipate

Academic Markers2%

as demonstrated

Impersonal Style32%

813 personal pronouns found

Descriptive Style75%

apply, really, actually

Description

Michael Cembalest has been an investment analyst for almost 40 years and his research notes have drawn a cult following on Wall Street. He's known for going super deep into a wide range of topics, like energy and healthcare. And lately he's been writing a lot about AI, with a particular interest in figuring out whether all the investment in data centers and compute will translate into actual profits. On this episode, we talk to the chair of market and investment strategy for JPMorgan Asset Management about why AI is the market "bet of the century," why the dominance of US big tech can't be overstated, and why he's pessimistic about the outlook for small modular nuclear reactors. Odd Lots Live is returning to New York City on June 26. Get your tickets here! See omnystudio.com/listener for privacy information.

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