Bullish and bearish opinions expressed in this episode, paired with supporting transcript quotes. The quote confirms what was said—not whether the opinion is correct.
Bullish
$GLD— Ram bought gold miners after correction, believes lows are in and sees gold as benefiting from inflationary environment.
$ENERGY— Ram sees energy sector in a bull market, underweight in portfolios at only 3% of S&P, with natural gas particularly attractive for powering data centers.
$ENPH— Ram sees solar as a fantastic idea, particularly Enphase Energy due to European energy dependence.
$FSLR— Ram sees First Solar as attractive at 12x forward earnings with strong hyperscaler customers despite Trump's solar stance.
$BRK.B— Ram recommends buying Berkshire Hathaway next week as a quality compounder with strong fundamentals.
$PGR— Ram recommends Progressive as a quality compounder with high return on equity, moat, and regulatory advantages.
$MMC— Ram recommends Marsh McLennan as a quality business with moat and regulatory advantages.
$TSM— Ram sees Taiwan Semiconductor as a way to bet on AI at 20x earnings, cheaper than S&P, with all AI money flowing to it.
$ELV— Ram bought Elevance three days ago, sees healthcare names benefiting from potential Democratic sweep and Medicare Advantage spending.
$DEFENSETECH— Ram is investing in defense tech as one of the few non-bubble themes in venture capital.
Bearish
$COPPER— Ram advises against copper in the short run as it's still rolling over after crowded momentum trade correction.
$OKLO— Ram sees nuclear stocks like Oklo as a hyper bubble with CEO selling stock, advises avoiding.
$TSLA— Ram sees Tesla as overvalued at 320x trailing P/E, part of expensive story stocks giving back gains.
$QUANTUMSTOCKS— Ram notes quantum stocks are down 40% as part of bubble deflation in story stocks.
$VC— Ram believes most of venture capital is a bubble and advises not to focus on it.