Stephen Weiss, Founder, Short Hills Capital Partners

We don't know their AI strategy and whether they will be disrupted. The market thinks it will.

Is his largest position. GS trades in line with tech IPOs. Still likes it. Is the best-known of the U.S. financials.

He sold GLD. The momentum money that went into gold is now coming out.

It hit a new high yesterday. He sold part of his position. Is not cheap now at a high valuation. It's purely an AI trade.

Down here, it's too cheap to sell, so let's wait for the quarter and see what happens.

Near Feb. 2025 lows. They keep refreshing their stores. Likes it. It should trade at a premium multiple.

Hits April 2025 highs. Fundamentals have been improving since last quarter. Healthcare is defensive, attractive now. Is happy to hold on. Has been great for him.

He sold a third of his holding on Monday and today. His position got too large. Everyday, analysts kept raising the price target. It's not a growth stock. Selling at 10x 2027 earnings is not cheap. 

Wants to sell. Expects major downside in GLD. He keeps waiting for a pop, but this hasn't come. GLD is -11% in the past month. Gold was such a momentum trade.

They join the Dow on Monday which will give it a brief bounce. Key staff leaving hurt the stock earlier this week. Likes GOOG a lot. 

He added to it today. It's navigated inflation well. It's also cheap. It has a monopoly in sporting goods.

Is unsure what their AI strategy is and the risk to their subscription base.

Meta has an uncanny ability to come out with new products. But the one problem with Meta--the UK just banned social media for children under 16. If this ban expands--and he thinks it will--it will hurt their ad revenue. Overall, Meta is spending on AI which maintains their lead over their peers.

The market doesn't care about its high valuation, but only the dream going forward. Musk is a genius who's made people continue to believe in the extremely high Tesla valuation, despite declining fundamentals. He'll buy it. This is a bet pure and simple on Elon Musk. It's a speculative trading stock, not a hold.