Shanghao Jin

中美会谈暂缓关税与稀土限制，但台湾、芯片出口分歧仍待谈判。成品油是通胀关键变量：中国每日增100万—200万桶出口，裂解差或降至40；受限则欧洲柴油可能涨50%以上。美国通胀被判断为transitory，短期卖盘或压低市场，AI与半导体中期支撑未变。

David Hunter × Jimmy Connor

David Hunter targets S&P 10,000, NASDAQ 36,000 and roughly 30–40% further upside, with a parabolic final leg if his secular-bull thesis is right.He simultaneously expects unprecedented debt and derivatives leverage to drive a potential 80% global bust, while seeing lower oil and a bond-market bull move as key cycle pivots.The timing remains unresolved: he sees a very good chance of a bust next year, but expects oil to fall and gold and silver to reach 7,000 and 200 before then.

Logan Jastremski × P Equity Research

AI infrastructure is constrained less by GPUs alone than by a shifting stack of memory, advanced packaging, power, construction, and networking, with memory potentially absorbing roughly half of hyperscaler capex through 2028.Long-term agreements and higher utilization may support a higher earnings floor, but cannot repeal cyclicality if ROI and free cash flow disappoint.Watch ABF, optics, and China’s potential 20-25% global memory share.

Molly O'Shea × Lior Susan

Eclipse is targeting the physical economy—about 85% of global GDP, or $100 trillion—where deglobalization, supply-chain vulnerability, government support, and customer demand are reopening neglected opportunities.With about $12.5 billion in AUM, roughly 90 portfolio companies, and 30 it helped build, its operators-with-capital model links CapEx, manufacturing, policy, and systems execution, while its free-cash-flow focus and non-formulaic incubation leave execution, timing, and repeatability as key variables.

Andrew Walker × Steve Gorelik

DNOW’s MRC Global merger creates a full-chain distributor with $75M targeted synergies and water, utilities, and data-center exposure.Buybacks at $10–12 and debt paydown support a cash-flow case, while the conservative-looking 2027 $350M EBITDA guide compares with roughly $400M on 2024 numbers.Reaching $30–32 by 2028–2029 from $16 depends on $300M 2027 FCF and re-rating, leaving ERP execution, macro recovery, and multiple expansion to monitor.

Patrick O'Shaughnessy × Matthew Smith

Matthew Smith’s model points to US natural-gas storage falling below all historical levels by 2029 as contracted LNG and AI compute outstrip deliverability, with electricity prices bearing the impact in 2028-2030.The market remains priced near $3.50-3.60, while Expand Energy and Range offer leverage to a potential physical-gas scramble; processing, pipelines, nuclear timelines, and consumer costs remain key risks.

Chamath Palihapitiya × Aaron Cowen × Dan Dreyfus × Oleg Nodelman × Kyle Samani × Jason Calacanis × David Sacks × David Friedberg

MGM’s $48 bid offers a near-term floor while Osaka and possible Dubai legalization create asymmetric upside, whereas Talen monetizes a 2 GW nuclear and 6 GW gas portfolio amid a projected PJM power shortage.Aktis remains a binary 2027 clinical platform wager, and GEODNET links revenue to token purchases; portfolio sizing ultimately turns on liquidity, downside, regulatory intervention, and whether satellites displace terrestrial RTK.

Dan Dreyfus

AI, reshoring, defense, and electrification are colliding with decades of infrastructure underinvestment, turning critical minerals into a supply shock against surging demand.China’s export restrictions exposed near-term shutdown risk, while Washington’s equity, permitting, and floor-price offtake package could finance new mines; copper supply may still lag enough for prices to double.

李翔 × 李丰

两轮risk off后，资金重新涌入中美最拥挤的AI与机器人交易，英伟达市值升至5.5万亿美元。美国增长预期约一半建立在大型公司AI Capex持续增加之上，但低成本旧产能、企业FOMO与囤货放大了一季度表现。亚马逊可能已进入Capex超过自由现金流阶段，微软等或于明年一至二季度跟随，而token收入尚未证明商业闭环。

Alex Silver

BWX Technologies combines a contracted, sole-sourced government business representing 75% of revenue with 400+ Navy nuclear cores built without a safety incident and scarce licensing and manufacturing capabilities.ANM’s thesis hinges on 4–5-year time-to-power, a potential mPower-based PWR white space, and more than 100% upside from about $200, but customer interest must de-risk any updated design.