📊 Macro Pulse: Rotation, Repricing, & Return of Durable ThemeS
🔄 Energy Is Back in Play
OPEC pivots from oversupply to tightening mode.
Positioning shift confirmed—energy equities leading.
Playbook Pick: Riley Exploration (REPX)
ROE > 20%, FCF yield > 20% — small-cap compounder.
🇨🇳 China Risk Fades, Flows Return
Tariff tension easing; geopolitics stabilizing.
BABA’s 200DMA reversal suggests uptrend ahead.
Favored names: PNGAY, BABA, and others.
📈 Inflation Watch: Don’t Sleep on August/Sept CPI
Headline prints may surprise.
Labor & earnings strong — no recession in sight.
Tactical stance:
✅ Own: Energy, inflation-linked, staples (Costco)
🚫 Avoid: Bond proxies, high-beta (Netflix = canary)
₿ Crypto & Digital Assets: Macro-Driven Melt-UP
💥 Bitcoin ATH ($119K) | Ethereum surges
Driven by:
Trump policy pivot
AI euphoria
Soft USD
No leverage blowout; bullish skew remains
Watch: Crypto-friendly legislation (“Crypto Week”)
⚠️ Exit signal: Overheated funding rates
🏦 Equities & Sectors: The Great Repricing
✈️ Airlines & Cruises: Recession Rerated
Delta +11%, United +8%, Norwegian breaking out
Not just squeezes—earnings momentum real
👟 Functional > Aspirational
Nike lagging vs. functional themes:
Travel, used cars, auto parts (APTV, ADNT)
⏪ Momentum Breaking, Mean Reversion Wins
PLTR, HOOD, Netflix rolling over
Buy the laggards into April (Abercrombie, REPX)
🧠 Themes > Stock Picks
Time to own sectors, not chase stars:
Travel, banks, inflation hedges
📉 Spec Excess Fades
LMND, OKLO, UPST losing steam
Quality + FCF is the new alpha filter
🔧 TSMC Re-Rated as AI Infra
39% YoY revenue growth
No longer just a cyclical foundry — it’s foundational AI infra
🚀 CoreWeave x Core Scientific Merger
Transforms mining revenue into HPC/AI hosting model
Locks in GPU + energy supply = strategic moat
🤖 AI Platform Wars: Distribution Is the New Moat
📱 Gemini (Google): Wins via Ubiquity
Embedded into Search, Chrome, Android, YouTube
Network effects are compounding fast
💔 OpenAI: Slipping Behind
Leadership exits, delayed GPT-5, failed M&A
Capex bottlenecks = innovation stalls
🐦 Grok4: Elon’s Challenger
Beats Gemini/OpenAI on exams
X (Twitter) integration + reasoning advantage
Premium tiers seeing adoption
🎯 Winners Take More
AI isn’t leveling the field—it’s concentrating it
Winners: Meta, Nvidia, Palantir, Microsoft
Losers: WPP, Omnicom, legacy media
Tactical Call:
Back companies with:
✔️ Proprietary data
✔️ Technical excellence
✔️ Distribution scale
✔️ Vertical AI models
Tactical Allocation – Our Stance
Overweight | Underweight |
Energy (REPX), inflation hedges | Bond proxies |
Travel/mobility/auto parts | High-beta, high-momentum (Netflix) |
TSMC (AI Infra) | Brand-name discretionary |
Meta, Nvidia, Palantir, MSFT | Spec tech w/o FCF |
Bitcoin, Ethereum |
💡 Linda AGI Core Message
“Distribution is the new moat. This is a rotation regime, not a momentum market.”
Don’t chase last cycle’s darlings.
Lean into themes, not tickers.
Mean reversion + quality balance sheets are in.
Macro favors energy, travel, crypto — stay agile, not sidelined.