월스트리트는 당신이 가난해지기를 원한다

Wall Street Wants You to be Poor THE DAILY --- H.E.A.T. Torching Wall Street’s Obsolete Playbook. Delivered straight to your inbox 5 days a week. Subscribe Home Posts Wall Street Wants You to be Poor Wall Street Wants You to be Poor Jul 8, 2025 Subscribe now Share Always fun to fade Barron’s covers, and this article is no different….. ETFs Are Eating the World. The Right—and Wrong—Ways to Invest. More than 700 ETFs launched last year, including ones that hold crypto or make leveraged bets on individual stocks like Nvidia. How to make sense of it all. www.barrons.com/articles/etfs-funds-investing-f38dc17a?mod=hp_SP_A_1_1 At their core, ETFs are access vehicles and tools you can use to achieve a desired portfolio mix, and they have some advantages… ❝ A big difference from mutual funds is intraday liquidity. You can buy or sell ETFs like a stock. Orders for mutual funds, by contrast, are priced once at the 4 p.m. market close. Liquidity is a big reason ETFs are so widely used by hedge funds, and it can be helpful if there’s a big market move and you want to sell a position quickly. These arcane details of ETFs have big tax consequences, since security swaps, unlike sales, don’t register capital gains to a fund. Here’s the inevitable advice to make sure your portfolio stays mediocre….. ❝ While the ETF world includes some wild beasts, the place to start is with low-cost index funds as the core of your portfolio. Then you see headlines like this….. How Much of Your Portfolio Should Be in International Stocks? Overseas equities are beating domestic shares for one of the few times in 15 years, and some financial pros say it’s time for U.S. investors to get back in www.wsj.com/finance/investing/international-stocks-investing-portfolio-9f13600e?mod=finance_feat3_investing_pos2 This is the wrong question of course. The right question is which themes you are going to buy into, and which stocks are the first order, second order, and possibly third order winners, regardless of geography. Will you be ok doing this? Probably. If you are ok just being ok, then this is fine. Is it easy to achieve extraordinary results? No, if it was then the Forbes 400 would be the Forbes 40,000. Is it doable? IMHO it is. Tune into my webinar July 31st at 2pm EST. I will be going over a bunch of concepts that you can use to help….. The Investment Strategy Wall Street Hopes You Never Discover -Why the 60/40 strategy is dead and what to do instead - How to use AI to uncover today and tomorrow's hottest themes -4 unknown edges that still exist in today's market - How to set up your portfolio for asymmetrical returns - Little know asset class that has limited risk and potentially unlimited returns - 4 ways to hedge your portfolio that don't include bonds Click Here To Register register.gotowebinar.com/register/5880160046486398304 We also talked Tony Dong about this yesterday….. Meanwhile, we had the inevitable down day yesterday, the market can’t go up forever. The narrative as that the drop was about tariffs, which it probably was, but when the market is this extended you don’t need an excuse to take profits. As long as Trump is engaged in the market, as evidenced by his all time highs tweet the other day, then I am buying dips as long as we are in an uptrend. ❝ We see the increased tariff announcement as a speed bump, rather than something that would derail the risky asset story. From here on, we would expect the tariff announcements to be incrementally positive with trade deals likely announced with a number of countries over the coming weeks. Singling out certain countries for higher tariffs is a way of putting pressure on these and other countries to agree to a deal sooner rather than later. Our overall view on tariff remains unchanged. When the dust settles we see average tariffs around 10-15%. The additional tariff revenue would be used to pay for Trump's tax cuts. While still negative from a macro perspective, the world can live with additional 10-15% tariffs. Thus, we remain in the camp of a slow grind higher in risky assets and a range bound view on rates. Mohit Kumar, Jefferies Investors Come Around to Trump’s Uncertainty Are the effects of geopolitical and tariff uncertainty on the economy still to come, or were they overestimated? www.wsj.com/finance/investing/trump-market-uncertainty-investors-02be1e8b?mod=wsjhp_columnists_pos_3 I would argue that Trump is giving you certainty. His tweet about all time highs in the market for example is what I’m focused on, not all the back and forth on tariffs which is probably Art of the Deal stuff. ❝ Twin uncertainties about tariffs and whether President Trump will honor U.S. security guarantees have prompted governments and companies to pour money into defending themselves, helping stocks . There’s no uncertainty there. We told you last year to buy European defense stocks, for anyone who saw Trump 1.0 this was obvious. Invest in Europe’s Aerospace and Defense Future with EUAD www.select-funds.com On the tariffs, as I said above, just focus on what Trump is saying about markets. When he says he doesn’t look at the market then you know to get out, when he talks about all time highs then you want to be in. Covered this yesterday….. — # (# ) One area that was strong yesterday were SPACS…. 🔥 HEAT Formula Playbook: Asymmetry- SPACs The 2025 SPAC Market Trends & Sentiment Survey A new survey of SPAC professionals—conducted by DealFlow Events at The SPAC Conference in June 2025—shows a shift in sentiment: cautious optimism is replacing skepticism. dealflowevents.com/resources I could have told you that, wait I have been telling you that. Meanwhile… — # (# ) This is the ultimate Trump’s Inner Circle trade. Don Jr. is on board and pumping it, it’s guns so you have second amendment, and it’s a SPAC so you have asymmetry. Not as much asymmetry any more though as it’s over $16. — # (# ) You can try to buy SPACs yourself, or if you prefer there is an ETF for that….. SPCX: The SPAC and New Issue ETF www.spcxetf.com 🔥 HEAT Formula Playbook: Themes-AI Power There is no doubt that AI is going to need to grab up a ton of power, so I often write about companies that can provide power or power infrastructure. I’ve talked about the midstream companies a lot lately as well, specifically KMI, LNG, and WMB. TD Cowen came out with a report on the sector on Monday….. TD Cowen Initiates on Six US Midstream Companies.pdf 712.99 KB • PDF File Download I first asked Chat GPT why this matters….. ❝ 🧠 The Big Picture: Why This Report Matters TD Cowen’s report initiates coverage on six major U.S. midstream companies , emphasizing the shift in thematic focus from Natural Gas Liquids (NGLs) to LNG exports and AI-driven data center power demand . Key macro trends: 🟩 +20 BCF/day U.S. gas demand growth by 2030 , largely from LNG and data centers 🟩 Peak power demand increasingly stresses current pipeline capacity— 1:1+ pipeline buildout needed 🟩 M&A activity is ramping up, indicating sector consolidation and cash flow confidence This is a multi-year secular opportunity —one that midstream names with exposure to Gulf Coast LNG and AI-related power hubs are positioned to dominate. I then asked for it to rate the stocks from 1-10…. 📊 Ratings: Midstream Stocks by Future Potential (1– • 10) Company Rating Investment Thesis Kinder Morgan (KMI) 9.0 Top pick. Strong asset base in Texas & Louisiana , best exposure to Gulf Coast LNG and data center gas burn. Low leverage, massive moat. Cowen Buy. Cheniere Energy (LNG) 9.0 LNG pure-play. Direct beneficiary of export demand and pricing power. Long-term contracts = cash flow fortress. Cowen Buy. Energy Transfer (ET) 8.5 Wide footprint across Permian and Gulf. Slight NGL overhang, but strong leverage to LNG and M&A optionality. Cowen Buy. Williams Companies (WMB) 8.0 Appalachia-focused with growing SE footprint. Big AI/data center exposure. Low risk, stable contracts. Cowen Buy. Targa Resources (TRGP) 6.5 NGL-heavy. Quality assets, but leverage to slowing Permian production caps upside. Cowen Hold. ONEOK (OKE) 6.5 Strong gas processing and NGL network, but mixed exposure to AI/LNG themes. Cowen Hold. Enterprise Products (EPD) 6.0 Solid cash cow, but less growth—capex pipeline and Permian linkages less relevant now. Cowen Hold. Looking at the top 4, they are volatile, but they all also look buyable at these levels. How Did You Like Today's Newsletter Love it It's Okay Not Great Login or Subscribe to participate Before You Go Some Ways I Can Help ETFs : The Antidote to Wall Street Inside HEAT: Our Monthly Live Call on What Wall Street Doesn’t Want You To Know Financial HEAT Podcast https://www.youtube.com/@TuttleCap Freedom from the Wall Street Hypocrisy Tuttle Wealth Management: Your Wealth Unshackled Advanced HEAT Insights: Matt’s Inner Circle, Your Financial Edge All rights reserved. Keep Reading No posts found View more caret-right 0