Macro Views

As we enter Q4 2024, macroeconomic indicators suggest continued volatility but underlying opportunities in specific sectors. Key areas of interest include semiconductors, energy, healthcare, and digital assets. Central banks globally are signaling caution, with expectations for a gradual easing of monetary policy into 2025. Focus remains on growth opportunities with a balanced approach to risk management.

Sector and Industry Updates

October 2024 sees high-interest sectors including AI, advanced nuclear, and decentralized finance. AI continues to reshape productivity and investment opportunities, with the AI landscape further developing【16†source】. Nuclear energy is undergoing rapid development, driven by clean energy targets, as outlined by the Department of Energy【13†source】【14†source】. Digital assets are now integrating deeply into financial services, with decentralized finance and tokenization playing a key role in transforming asset management【15†source】.

Core Strategy Updates

Our core strategy continues to focus on companies with solid fundamentals, including strong ROIC, FCF yield above the risk-free rate, and consistent sales growth over the past five years. Defensive positions in sectors like utilities and healthcare offer stability, while select high-growth tech and financial services present opportunities.

Interesting Stocks

Semiconductors: Nvidia (NVDA), QCOM, ARM

Nuclear: ASPI, LEU, SMR

Financial: MUFG, CFG, PGR, IBKR

Tech & Digital Assets: Coinbase (COIN)

Homebuilders: MHO

Healthcare: CVS, MDT, SYK

Tech: Alphabet (GOOGL), TSM

Energy: FSLR

Watchlist Stocks

Aggressive Stocks: APLD

Hybrid Data Servers

Utilities: VST, KEP, D

Interesting ETFs

Income: ISPY - S&P 500 High Income ETF

Daily covered call strategy on S&P 500 stocks.

Income: IQQQ - Nasdaq 100 High Income ETF

Daily covered call strategy on Nasdaq 100 stocks.

Income: ITWO - Russell 2000 High Income ETF

Daily covered call strategy on Russell 2000 stocks.

Nuclear: NLR, URA

Utilities: UTES - Virtus Reaves Utilities ETF

Focused on utility sector investments, providing steady growth and returns.

Onchain SMAs - L1.co

Onchain SMAs represent the next evolution in Separately Managed Accounts, providing 24/7 access, liquidity, and programmatic rebalancing with tax awareness. L1.co’s platform is pioneering this space, integrating DeFi protocols for RIAs, clients, and asset managers.

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