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Software stocks at a discount are a dispersion-rich stockpicking opportunity, not a blanket bargain

Duolingo screens as a value trap, cheap on multiples but weak on intangible moats, at risk after its drawdown

Salesforce sold off on AI fears but its intangible moats screen cheap, set to recover as a survivor

Intangible value names get mispriced in AI disruption; the dispersion among incumbents rewards a factor tilt that buys the cheap winners.

Mag 7 going asset-heavy on AI capex erodes the returns that made them great; rotate out.

Oracle's 249% capex ramp into AI cloud deals fits the loser profile of every capital cycle.

Record S&P 500 concentration ties the index to AI; an equal-weight basket strips that cluster risk out.

The real AI winners are cheap, asset-light early adopters; rotate the AI dollar toward them.

Book-value Value decays as intangibles dominate; the quality/intangible-aware factor captures the value that survives.

Non-US stocks at a ~50% discount to US peers are a richer hunting ground for long-only value buyers

A simple two-factor Intangible Value + Quality portfolio replicates Buffett and beats the S&P 500 across regions

High-intangible global firms are insulated from tariffs and best positioned in a trade war

Non-US global firms trade at a 46% discount with less US risk; close the gap

US now trades like an emerging market; US assets lose their safe-haven premium

Diversified, localized supply chains are tariff-resilient; favor build-where-you-sell firms

Trump's rising election odds drive Republican stock outperformance with a lag, an arbitrage

Companies granted cybersecurity patents outperform peers; the patents signal forward-thinking firms.