Thematic Thursday

Thematic Thursday: Space Exploration, The Next Frontier in Public and Private Investment

Thematic Thursday / Patrick Torbert / ARKX, GSAT, LHX, LMT, NOC, PL, RKLB, RKT, SATS, UFO

October 9, 2025 Space exploration is emerging as one of the most dynamic and investable frontiers of the 2020s. What was once a government-led endeavor has evolved into a diversified commercial and technological ecosystem spanning communications, defense, data analytics, and manufacturing. The sharp decline in launch costs, the rise of private-sector innovation, the strategic value […]

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ARKX, GSAT, LHX, LMT, NOC, PL, RKLB, RKT, SATS, UFO

Thematic Thursday: Why No Bid for Commodities?

Analysis, Thematic Thursday / Patrick Torbert / BCOM, GRID, MXCN

October 2, 2025 In 2025, commodity prices have remained subdued despite persistent inflation concerns (chart below), a divergence rooted in slowing global demand, resilient supply, and shifting inflation dynamics. The World Bank projects that aggregate commodity prices will decline by roughly 12% in 2025, followed by another 5% drop in 2026. This weakness is especially

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BCOM, GRID, MXCN

Thematic Thursday: The Emerging Symbiotic Relationship Between Nuclear Power and AI

Thematic Thursday / Patrick Torbert / AMZN, GOOGL, MR, MSFT, NVDA, OKLO, SMR

September 25, 2025 With the S&P 500 recently pulling back from fresh all-time highs, the motivating narrative of the current long-term bull market remains centered around the potential of AI to revolutionize commerce and life to be more efficient. Optimism and pessimism around that narrative along with more mundane concerns like the actual levels of

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AMZN, GOOGL, MR, MSFT, NVDA, OKLO, SMR

Thematic Thursday: The American Dream

Thematic Thursday / Patrick Torbert / APTV, F, GM, GNTX, KBH

September 4, 2025 Fed Chairman Powell set the stage for US equities into year end with his Jackson Hole speech. Softer eco data is likely now a “good” thing in the near-term as it will reinforce conviction on a series of rate cuts which should loosen lending and improve financial conditions for a broader array

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APTV, F, GM, GNTX, KBH

Thematic Thursday: Cyber Security Stocks at a Bearish Pivot

Thematic Thursday / Patrick Torbert / CIBR, FTNT, HACK, LOCK, OKTA, PANW, USPY

August 28, 2025 As investor continue to digest NVDA’s earnings report and position for the next leg of the AI trade, we wanted to call out some emerging near-term weakness in another key Technology theme in our column today. Cyber Security stocks and thematic funds have been retracing their YTD gains over the past 2-months,

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CIBR, FTNT, HACK, LOCK, OKTA, PANW, USPY

Thematic Thursday: Should AI be its Own Sector?

Thematic Thursday / Patrick Torbert

August 7, 2025 Artificial intelligence (AI) has rapidly evolved from a niche technology to a foundational force shaping nearly every major industry in the U.S. economy. Given the scale of investment, breadth of adoption, and the distinct economics of AI business models, there is a compelling case for creating a standalone AI sector within widely

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Thematic Thursday: The Smart Grid

Thematic Thursday / Patrick Torbert / AZZ, CSCO, GRID, ITRI, PWR

July 10, 2025 One of the key themes to emerge since equities put in their April 7th low has been smart grid implementation. We’ve observed that among infrastructure focused funds, smart grid adjacent stocks and the GRID ETF has been YTD leadership among the funds we track (chart below). The GRID ETF (chart below) is

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AZZ, CSCO, GRID, ITRI, PWR

Thematic Thursday: Herding into Crypto is a Potential Double-Edged Sword

Thematic Thursday / Patrick Torbert

June 12, 2025 The Crypto trade is heating up with recent news that companies are taking a page out of the MSTR playbook and adding Crypto to their balance sheets. This is being called a “bitcoin treasury strategy,” buying digital assets like bitcoin, ether, and solana in hopes of boosting their stock prices. Roughly 60

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Thematic Thursday: Nuclear Stocks are the Juice in the Alternative Energy Space

Thematic Thursday / Patrick Torbert / CCJ, LEU, NLR, NUKZ, PDN, URA, URNJ, URNM

June 5, 2025 Equities have staged a bullish reversal since early April and we’re seeing nuclear stocks emerge as the new “Juice” trade in the alternative energy space. Investors are moving off low vol. in favor of higher beta exposure in both Growth and Cyclical areas of the equity market. In the Alternative Energy space,

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CCJ, LEU, NLR, NUKZ, PDN, URA, URNJ, URNM

Thematic Thursday: Crypto Reviving with Investor Risk Appetite

Thematic Thursday / Patrick Torbert / BTDR, CIFR, COIN, GME, HOOD, IBM, MARA, MELI, MSTR, RBLX, RIOT, RUM, XYZ

May 29, 2025 As equities have reflated since early April, investor risk appetite has firmed. Crypto currencies have seen performance vs. USD firm and various thematic ETFs begin to outperform again. Looking beneath the surface, we’ve seen more speculative miners and infrastructure stocks catch bids while some established crypto players aren’t keeping pace. Coins have

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BTDR, CIFR, COIN, GME, HOOD, IBM, MARA, MELI, MSTR, RBLX, RIOT, RUM, XYZ

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