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☕ It's happening and right on cue

Jan 23, 2025

Good morning! 👋

Physically, I've returned to America, but my body clock is still very much in Italy.

So, with your permission, I’m gonna keep it brief today.

The S&P index hit an intraday record high yesterday and is looking strong so far in today’s trading session.

This is right on cue with what I told you to expect in my annual outlook.

And I hope to heck you’re on board!

Here’s my playbook.

1 – "The largest AI infrastructure project by far in history."

President Trump announced the Stargate project on his first full day of his second term, describing it as "the largest AI infrastructure project by far in history." (Read)

This is a $500 billion initiative which aims to develop advanced AI infrastructure across the U.S. over the next four years.

The point?

To strengthen America's leadership in AI while generating hundreds of thousands of jobs and increasing national security.

Key equity backers include SoftBank, OpenAI, Oracle, and MGX, while the primary technology partners are Nvidia, Microsoft, Arm, and Oracle.

Musk has questioned the feasibility of the initiative, claiming that OpenAI, Oracle, and SoftBank lack the financial resources to fulfill their $500 billion commitment. Musk also specifically alleged that SoftBank has secured less than $10 billion for the project.

Two thoughts come to mind:

I think that the President and Musk are both correct; which is why,
I want to keep my “buy list” very tightly focused on companies with the resources to pull this off.

To a point I made in Tivoli during my keynote, AI is not only STILL the biggest investing opportunity in recorded history, but just getting started.

Keith’s Investing Tip: Many investors will probably buy some sort of tech-driven fund or ETF and be done with it – which will likely work out all right over time. But if you really want to run with the big-dogs and transform your wealth, you’ve got to “buy the best, ignore the rest” – something we’ve talked about many, many times.

2 - The AI and healthcare convergence

Oracle’s Larry Ellison emphasized the transformative potential of AI in healthcare through Project Stargate. (Read)

This is something we’ve been discussing for some time now - the intersection of healthcare and AI and the profit potential that comes with it.

AI-analyzed blood tests for early cancer detection are already becoming a reality, while personalized cancer vaccines - tailored through gene sequencing and manufactured with AI in just 48 hours - are potentially just around the corner.

MyPOV: Most investors still don’t understand the game changing potential associated with this. And at the risk of being self-serving, that’s something we’re following very closely in One Bar Ahead®. Hopefully you’ve got this covered because it’s that important, but if you don’t, you know where to find me.

3 – JPMorgan CEO says ‘Get over it’

JPMorgan CEO Jamie Dimon stated that tariffs expected to be imposed by President Trump could be positive for U.S. national security. (Read)

He said that tariffs could protect American interests and bring trading partners back to the table for better deals for the country, if used correctly.

Dimon is mirroring something I’ve said many times before about tariffs.

Tariffs do not work long-term if not used effectively, but in a situation like this, they can be a game-changer for the right companies and the investors who own ‘em.

It’s a very short list! 😃

4 – Still a no-go from me

American Airlines reported Q4 earnings (Read):

Adjusted earnings per share of $0.86 vs. $0.64 estimated
Revenue of $13.66 billion vs. $13.40 billion expected

However, the company’s Q1 2025 earnings outlook fell short of expectations due to fuel costs, decreased capacity, increased reliance on smaller regional jets, and new labor agreements finalized last year.

Delta Air Lines and United Airlines are forecasting the opposite.

Good... but airline stocks are still a no-go to my way of thinking.

5 – The worry warts are out in force

Stay focused on the positive.

Here’s why.

There’s a growing number of headlines and nonsense from the worry warts, especially when it comes to names which report next week including Meta, Microsoft, Tesla, Apple and Chevron.

My experience has been that any time that happens, it's a dead certain giveaway that big traders are going to game the system.

So, if you know that ahead of time, it really makes sense to think like a shark, not a minnow.

Chaos creates opportunity.

Next week when I have my feet under me, a little less jet lag and a little more coffee, we will get into the thick of it.