$BTC - Bitcoin serves as a leading indicator for global liquidity and geopolitical tensions, with global ownership and real-time pricing making it valuable as an alternative reserve asset
$PRIVCRED - Private credit has benefited from the vacuum left by public markets, stepping in with favorable 'heads I win, tails you lose' asset capture models
$GLD - Record gold inflows indicate positioning for monetary debasement and geopolitical risks, contrasting with risk-off positioning in other assets
$DEFENSE - Defense technology is attracting significant venture capital funding amid geopolitical tensions, with autonomous drones easily securing funding
$WAGES - Wage inflation is necessary to address inequality between boomer wealth and worker wages, requiring real basis zero returns
Bearish:
$EQUITIES - Public equity markets have failed to provide capital to capital-intensive businesses, with companies avoiding balance sheets and assets in favor of asset-light models