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That shows the sector isn’t exorbitantly expensive—unlike some S&P 500 stocks—and that higher-than-expected profits can still drive the stocks higher.

At the same time capital spending on AI infrastructure remains a “very big market theme and has shown no signs of slowdown.”

To convince people that it matters, Poo points to the demographic pressures facing the U.S., including data showing that 10,000 people turn 65 every day.

“I accept there is a degree of wishful thinking,” he says regarding his belief in his painting, which doesn’t make him any less charming a subject for the show.

Now 87 years old, Mr. Lloyd shows no signs of slowing down.