$KKR - Jay loves KKR and thinks the market has freaked out for no reason, presenting a buying opportunity.
$FINANCIALS - Jay got long all investment banks based on macro view of pent-up M&A demand, declining rates, and likely AI-related IPOs under Trump administration.
$PREFERREDS - Jay sees preferred stocks as attractive with 7-9% yields that are sustainable and lower risk than equities, offering equity-like returns with much lower volatility.
$HIGHYIELD - Jay advocates for high yield bonds yielding 8% versus investment grade at 4%, providing higher returns with manageable risk from quality public company credits.
Bearish:
$TSLA - Jay believes Tesla is massively overvalued at 220x earnings with no real growth, making it a clear avoid despite potential momentum.
$HOUSING - Jay sees a recession in residential housing and construction due to Fed keeping rates too high, with negative year-over-year growth.
$BONDS - Jay expects rates to come down with 75 basis points of cuts by year-end, making current bond yields unattractive as the 10-year will track lower with Fed funds.