When the Fed loosens monetary policy (QT taper and rate cuts), it will cause:

- Pick up in economic activity / growth rates
- Multiple expansion

Both will benefit disruptive, rapidly growing businesses. The secular compounders will shine again.

$GME +74% on Monday, +88% pre-market on Tuesday

Ben Graham turning in his grave!

$AMC and $GME both ~+75% on Monday...

Meme-stock mania back despite QT + 525-550bps FFR!

7 years of $SPX gains in one day. Unreal!

On Q1 results (FX-neutral) -

Revenue +29.2%YoY
DTC revenue +48.7%YoY
Gross margin 59.7% (vs. 58.3% in Q1 '23)
Net income +106%YoY
Net income margin 18%
Adj. diluted EPS 120%YoY
FY 2024 rev. guide +30%YoY

Disclosure - Long $ONON

Chatbots / search - competition is heating up!

Perplexity.ai + ChatGPT are coming after Google's lunch

Over the long run, sales growth trumps everything else -

Changes in valuation determine stock performance over 1-year time frame, business growth matters over the long-term.

Investing in disruptive, rapidly growing businesses pays!

Datadog - Transitioned to 'Stage 2'

- Breakout above 2-yr 'Stage 1' base
- Last week stock tested 40-wk ma
- Closed above blue line
- 40-wk ma is now sloping upwards

Disclosure - Long $DDOG

Generative AI software spend - 70%CAGR until 2032!

Many software businesses will deploy AI agents...

Global robotics market at the cusp of S-Curve adoption!

BCG estimates 22-31%CAGR until 2030 (see below).

AlphaTarget is researching this industry, identifying promising businesses and post-launch, we'll publish our research piece on robotics...stay tuned.

AI, autonomous driving, e-commerce, health & wellness, online payments + fintech, software and robotics are some exciting secular trends...

The leading, disruptive businesses in these areas have durable competitive advantages and should prosper over the following years.

E-commerce % of total retail sales (South America) -

Still *very* early days...the leading businesses will compound revenues, FCF, earnings for several years.

Poll results : 70% want succinct research reports!

The people have spoken... ~70% of the 3,073 people who participated in the poll until 2 days ago voted in favour of succinct equity research reports!

Due to an IT glitch on X, two days ago the vote count got stuck at 3,073 and