The Few Bets That Matter
The rotation is crystal clear on days like today... And it isn't the most bullish indicator.

Risk assets are getting hit hard, even when they aren’t directly impacted by the actual tensions. Meanwhile, everything on my watchlist is flat or green.

Energy, commodities, healthcare, defensives... those are the new AI trades. And I don’t see that changing through 2026, with a few exceptions.

Companies like $NBIS and other cloud providers are still constrained by real-world limits. Even at today’s pace, it takes months before growth shows up in the numbers. Same for semis; demand is massive, but capacity is limited by production pace.

Names like $PATH and similar still make sense, AI enhanced softwares that can sell to any sectors because their primary role is to improve efficiency. But besides a handuful of those names...

The market is shifting towards defensives, which is the sign of a bull run's end.

We might see a last hoora and some dead cat bounce, but the era of infinite returns on risk assets might be coming to an end for a little while.

I shared my watchlist, two well-defined bull cases, and my investment plans with subscribers last week. More coming in the next few days. I also take any suggestion as I've been working on finding the best defensive plays the last weeks, and am always happy to look for more.

Tech won’t be the leader over the next year or two...
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AkhenOsiris
WE HAVE SOME GREEN ON THE S-ASS BOARD:

DDOG, RBRK, TTAN
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AkhenOsiris
$CRM

No crying in the club @Benioff ! https://t.co/ywFiuIjXh3
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Quiver Quantitative
JUST IN: Representative Ro Khanna has introduced legislation to curb corporate landlords from buying up housing.

Trump recently signaled support for this idea, we will see if it receives a vote. https://t.co/xxib9YAAoR
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Fiscal.ai
Fiscal AI just launched a brand new Search Modal 🔍

Cut out the extra clicks and go straight to specific page you're looking for.

For example:
- Amazon Income Statement
- Nvidia Segments & KPIs
- Netflix Investor Relations https://t.co/nZfVMwTD4k
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Brady Long
RT @meetaugustai: Most people using Health AI aren’t experiencing obvious emergencies. They’re caught between a symptom and uncertainty or anxiety, wondering if they should panic or go back to sleep.

This is where emergency escalation accuracy matters most: accurately identifying what’s actually urgent vs. what’s a false alarm.

@meetaugustai an “AI doctor,” benchmarks 100% on the metric that both patients and doctors actually care about. All other major LLMs don’t stand a chance (see chart).

Try for free: https://t.co/eQCtiteXRG
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Dimitry Nakhla | Babylon Capital®
Netflix Q4 2025 Earnings Preview

🗓️ REV Est: $11.97B (+17%)
🗓️ EPS Est: $0.55 (+28%)

💵 NTM P/E: 28x
💵 NTM FCF Yield: 2.8%

Since 2015, $NFLX total paid memberships have grown at an impressive 17% CAGR https://t.co/m6psEOMEPk
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Dimitry Nakhla | Babylon Capital®
Netflix Q4 2025 Earnings Report

✅ REV: $12.05B (+17%)
✅ EPS: $0.56 (+31%)

📺 “We crossed the 325M paid memberships milestone during the quarter”

$NFLX https://t.co/FxPrY4DnbB

Netflix Q4 2025 Earnings Preview

🗓️ REV Est: $11.97B (+17%)
🗓️ EPS Est: $0.55 (+28%)

💵 NTM P/E: 28x
💵 NTM FCF Yield: 2.8%

Since 2015, $NFLX total paid memberships have grown at an impressive 17% CAGR https://t.co/m6psEOMEPk - Dimitry Nakhla | Babylon Capital®
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App Economy Insights
$NFLX Netflix Q4 FY25:

• Revenue +18% Y/Y to $12.1B ($80M beat).
• Operating margin 25% (+2pp Y/Y).
• EPS $0.56 ($0.01 beat).

FY26 Guidance:
• Revenue +12%-14% Y/Y.
• Operating margin 31.5% (+2pp Y/Y). https://t.co/fhId7aGTIk
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