Hedge Fund Tips with Tom Hayes Hedge Fund Tips with Tom Hayes - podcast - Episode 326 - January 15, 2026
Jan 15, 2026
Tom Hayes shares insights on market dynamics, highlighting opportunities in modest indices and attractive dividend payers. He dives into the turnaround at Dentsply Sirona and the oil services potential of NOV, reflecting on energy as a historic buying opportunity. Discussions include the implications of a weak dollar, healthcare's outperformance during midterms, and the impact of geopolitical risks on markets. Hayes also reviews successful investments and common pitfalls, emphasizing the importance of strong balance sheets and high-conviction positions.
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Beneath-The-Surface Stock Opportunities
- Passive index investors will likely be underwhelmed this year despite pockets of big winners beneath the surface.
- Tom Hayes expects fortunes to be made by stock pickers, not by holding the Mag Seven or broad indices.
Fed Chair Choice Is Market Wildcard
- A hawkish Fed chair could trigger a midyear correction even in a generally easing environment.
- Hayes flags Kevin Warsh as the wildcard whose appointment might cause a 15–20% market pullback.
Buy Dividend Payers In An Easing Cycle
- Buy dividend payers during an easing cycle because money flows out of cash instruments into yield-bearing stocks.
- Prefer dividend growth and multinationals that benefit from a weakening dollar FX tailwind.