Shannon Saccocia, CIO, Boston Private

Gas prices will spike because of the war which will dampen dining out. It will be temporary, so you can buy it now.

There are a number of levels of stimulus this year.

Still likes industrials because we're in a cyclical economic rebound. Emerging markets, Europe and Japan all offer opportunity in industrials.

To start 2026, they projected positive free cash flow, but already they expected negative free cash flow. We need to re-rate this name.

In logistics and wealth management, for example, these services businesses are deeply entwined with other products that won't be disrupted by AI. The story has switched overnight from companies that can use AI to grow productivity and earnings to being disrupted by AI. This is really inaccurate.

There are improvements in MLR (Medical Loss Ratio) expectations for managed-care companies, and potential clarity around Medicare Advantage.

Likes biotech. As investors remain concerned about the Fed not being accommodative, XBI could unwind short-term which would be an opportunity.

We're seeing a pick-up in deal-making.

Search is 57% of their revenue. If such revenues decline, Google won't be able to invest in anything else but search.

Lack of new regulation is a key driver of financials.

There's offence and defence here.

Aetna's medical loss ratio (MLR) came in lower than expected and sees that for similar companies and a boost for this sector.