Apr 03, 2026

Key Takeaways

– Deutsche Bank’s “Fresh Money” stock picks for the next 12 months have outperformed the S&P 500 since inception, gaining 234% vs. 202%.

– New consumer picks include Colgate-Palmolive (price target $98 vs. $85) and Starbucks (price target $114 vs. ~$86), both rated as buys due to solid long-term priorities and a turnaround in hospitality model, respectively.

– Healthcare picks include Apogee Therapeutics (eczema/asthma treatment, price target $118 vs. $84) and CVS Health (margin expansion and contract renewals; $88 target vs. $72).

– Industrials additions spotlight Delta Air Lines (resilient to high fuel prices, target $85 vs. $67) and space exploration company Intuitive Machines (growth potential amid space race).

– Financial & fintech picks include Equitable Holdings (merger catalyst, target $58 vs. $37) and Visa (positioned to outperform, target $410 vs. $298), plus new chip stocks Applied Materials and Broadcom.

– Market backdrop: Oil prices surge due to Iran conflict tensions; yields rise; uncertainty remains high.

– Investors should watch weekly jobless claims, trade deficit data, and Tesla’s Q1 delivery update.

Key Takeaways

– CERAWeek energy conference revealed a shift: climate and zero-emission goals are deprioritized in favor of managing growing electricity demand and energy prices amid geopolitical tensions, like the Iran war.

– Climate tech investors now focus on meeting some of the growing energy demand cost-effectively rather than full fossil fuel displacement.

– KKR raised $23 billion for its 14th North American buyout fund, largest ever for a North America-exclusive private equity fund.

– Several VC funding rounds announced, including:

• Blank Street Coffee (raising ~$100M at $1B valuation)

• Cognichip (chip design, $60M raised)

• Monarch Quantum (photonics hardware, $55M raised)

• Alcatraz, Linx Security, Manna Air Delivery, Soma Energy, Anvil Robotics, TippingPoint Biosciences, Numos, Earlyasset with various rounds ranging from $2M to $60M.

– Multiple M&A deals: Amazon in talks to buy Globalstar; Intel acquiring Apollo’s Irish fab JV stake for $14.2B; Publicis acquiring sports marketing firm.

– IPO related news: SpaceX filed confidentially for expected June IPO; AGS Health filed IPO paperwork in Mumbai.

– Unilever’s food division sale plan to McCormick caused nearly $10B market cap loss and S&P outlook downgrade.

Key Takeaways

– Explains “binary bonds”/structured notes that combine US Treasury bills with derivative bets on prediction markets (e.g., sports outcomes), offering principal protection plus upside linked to specific events.

– Structured notes are evolving into ETF formats, making them accessible to retail investors.

– Prediction market structured notes are emerging (e.g., Marex issued a note paying coupon based on Nvidia’s market leadership).

– Discussion on non-traded business development companies (BDCs) facing redemption pressures; Blue Owl Capital capped redemptions due to surge, reflecting investor sentiment disconnect with credit fundamentals.

– Private credit loan market shows thin liquidity with few buyers at par prices; some purchases mainly by existing large holders to support valuations.

– Distressed asset funds view private credit downturn as a significant investment opportunity since 2008.

– Profile of Medvi, a profitable telehealth weight-loss drug seller nearly run by one person, enabled by AI for branding and outsourcing doctors and pharmacies to telehealth-in-a-box platforms.

– JPMorgan CEO Jamie Dimon considers media venture post-banking career.

– Various news: Coinbase, Cloudflare, Stripe on AI money; Goldman, Citi direct Paris staff WFH after attack prevention; Starbucks offers barista bonuses; upcoming bans on new data centers in Maine; Intel’s $14.2B acquisition of Apollo’s fab stake; energy traders misread Iran war impact.

Stay Well!