Arte de invertir: analisi azionarie e scelte

The YouTuber suggests Fluor Corporation, an engineering and construction company, as a buy. The company faced issues with fixed-price contracts during inflation but has largely renegotiated them, with most new contracts being reimbursable (cost-plus-profit). This shift is expected to significantly boost margins and earnings, with projected EBITDA increasing from $350 million to $900 million by 2028. The company is also executing a massive share repurchase program, reducing share count by 25% over two years, indicating management believes the stock is undervalued.

“Si vemos las cuentas de fluor, vemos algo muy similar. Eh, en 2021, 22, 23 hizo mínimo de márgenes. 2,6 0.1, un beneficio evita de 350 millones, pero eso de repente este año va a subir a 540, el año que viene a 600 y ya se va a estabilizar y va a hacer que el beneficio antes de impuestos pase de 200 millones 270 a casi 600 millones” — ▶ 30:50

The YouTuber highlights Fluor Corporation, an infrastructure design company, as an attractive investment. It trades at a P/E multiple of only 13x earnings, which is significantly below the market average of 23x, suggesting it is undervalued despite its essential role in infrastructure development.

“Por ejemplo, Fluor Corporation, que se dedica al diseño de infraestructuras con un múltiplo de tan solo 13 veces beneficios.” — ▶ 21:55

Ray Dalio has sold Microsoft, along with other major tech companies, as he shifts his portfolio from software to AI infrastructure. He believes it's difficult to predict which AI models will win, and these stocks have seen significant appreciation.

“Las otras ventas que ha realizado podemos ver claramente que son compañías tecnológicas que son las favoritas de algunos inversores. Ha vendido Google, eh Meta o Facebook y Microsoft.” — ▶ 6:40

The YouTuber suggests Microsoft as a solid, lower-risk investment in AI, noting its 15% growth and a valuation of 30 times earnings, which is slightly above the market average but reflects its quality and predictability.

“Microsoft, que ya lo conocéis, que no está mal, pero crece al 15%, es menos que el ritmo de la IA, está en una evación de 30 veces beneficios, que es un poquito más caro que la media de la bolsa, pero sigue siendo una empresa pues muy sólida.” — ▶ 17:00

Microsoft is highlighted as the most popular investment among top investors due to its strong performance and diverse revenue streams. Key drivers include the stable, high-margin Office suite with pricing power, the rapidly growing Azure cloud services, and strategic investments in AI and LinkedIn. The company demonstrates consistent double-digit earnings growth and expanding operating margins.

“Microsoft es la inversión más popular por la que más esperanza le tienen a futuro y mayor número de inversores están apostando.” — ▶ 34:50

Ray Dalio has sold Google, along with other major tech companies, as he shifts his portfolio from software to AI infrastructure. He believes it's difficult to predict which AI models will win, and these stocks have seen significant appreciation.

“Las otras ventas que ha realizado podemos ver claramente que son compañías tecnológicas que son las favoritas de algunos inversores. Ha vendido Google, eh Meta o Facebook y Microsoft.” — ▶ 6:40

Google is presented as a top-tier business with multiple lucrative segments: dominant search advertising, high-growth YouTube streaming, and significant potential in Cloud and AI. The YouTuber emphasizes its competitive moats, the emerging value of Waymo's autonomous driving, and the strategic importance of Android, all contributing to impressive EPS growth and a relatively attractive valuation.

“Google es probablemente uno de los mejores negocios cotizados en bolsa y no lo digo yo lo ha dicho Warren Buffett dice que ha sido un error de hecho está aquí esta noticia de de de insider marke insider donde dice que cometieron un gran error por no haber invertido en Google.” — ▶ 21:40

Ray Dalio has made Micron his second-largest purchase, investing $250 million. He sees it as a key player in AI infrastructure, specifically in RAM memory, which is experiencing a supply shortage expected to last until 2028. Micron's earnings are projected to grow 300% this year and 30% next year, yet it trades at a low 10x earnings, reflecting market skepticism about sustainability.

“La cuarta compañía en la que se ha enfocado, que tiene que ver con esta infraestructura de inteligencia artificial, sector que le está sorprendiendo a mucha gente porque Raidalio dice, 'Bueno, va a haber conflictos y demás, uno pensaría que está invirtiendo en acciones de defensa,'” — ▶ 24:00

Ray Dalio has invested $720 million in Nvidia, seeing it as a clear winner in the AI infrastructure race. He believes that regardless of which AI models succeed, they will all require Nvidia's processors and microchips. Nvidia is showing significantly higher growth (60% projected) compared to competitors like Intel and AMD, yet trades at a comparable P/E of 25x forward earnings.

“Raidalio ve esta compañía, lo he explicado muchas veces como una ganadora auténtica. Independientemente de si la gente va a usar más Chat GPT o si va a usar Gemini, van a tener que comprar los procesadores de y los microchips de Nvidia.” — ▶ 12:40

Michael Burry has placed a significant short bet against Nvidia, viewing it as part of an 'enormous bubble' in the market. The company's valuation, particularly its high price-to-sales ratio, is highlighted as a concern, along with the broader overinvestment in data centers and AI infrastructure that he believes is unsustainable.

“Michael Burry únicamente está invirtiendo su capital actualmente. Vamos a ver cómo ha organizado estas eh apuestas bajistas sobre estas dos compañías y sobre el resto de su cartera.” — ▶ 3:00

The YouTuber states that Nvidia, trading at 30-40 times earnings, will continue to benefit from the advancement of AI and should reflect this growth in its stock price if the market continues its current trajectory.

“Y dentro de las dos principales de esta cesta de acciones de IA tendríamos a Nvidia, que todos la conocemos, está ahora mismo a 30 a 40 veces beneficios. Obviamente, si la IA sigue avanzando, Nvidia se va a seguir beneficiando y lo debería reflejar en bolsas y si el mercado continúa con el crecimiento actual.” — ▶ 47:50

Ray Dalio has invested $511 million in Salesforce, seeing its recent price drop as an opportunity. He believes fears of AI disrupting its customer relationship management software are overblown, citing the high switching costs for large enterprises and Salesforce's integrated ecosystem. The company continues to show strong growth (9-12% revenue, 14% profit) and is trading at a historically low valuation of 14x earnings.

“La tercera compañía en la que se ha enfocado Raidalio es en Sales Force, una compañía que curiosamente ha bajado recientemente por el miedo a que la IA pueda hacer desaparecer este negocio de software.” — ▶ 16:00

Ray Dalio has invested in Newmont, the world's largest gold miner, due to its low extraction costs ($1,600/ounce vs. $5,000 market price), 40 years of proven reserves, and high reserve replacement ratio (132%). The company is also trading at a historically low valuation of 13x earnings compared to its historical average of 20x.

“Newmont es la mayor compañía minera del mundo, además con unos costes de extracción muy bajos. A Newmont le cuesta extraer $1,600 cada onza de oro, pero vemos que el oro cotiza $5,000, con lo cual tiene un margen de seguridad muy elevado.” — ▶ 9:00

Ray Dalio has sold Meta, along with other major tech companies, as he shifts his portfolio from software to AI infrastructure. He believes it's difficult to predict which AI models will win, and these stocks have seen significant appreciation.

“Las otras ventas que ha realizado podemos ver claramente que son compañías tecnológicas que son las favoritas de algunos inversores. Ha vendido Google, eh Meta o Facebook y Microsoft.” — ▶ 6:40

The YouTuber notes Facebook's (Meta) strong market share in social media through Facebook and Instagram, despite competition from TikTok. They highlight its continued double-digit revenue growth and high profit margins, making it an attractive investment even with some growth deceleration and margin compression.

“Sigue siendo al menos crecimiento de doble dígito superior al 10% los márgenes de beneficio también se han comprimido un poco por esa mayor competencia hace años eran de un 49 ahora es de un 40 pero aún así siguen siendo muy elevados.” — ▶ 19:50

Ray Dalio has sold his position in Uber, citing new competition and the threat of AI disruption to its business model. The stock has declined significantly since his sale.

“su mayor venta del trimestre ha sido la compañía Uber. la ha vendido con muy buen ojo porque él ha vendido probablemente en esta zona y desde entonces se ha desplomado un 22%.” — ▶ 6:00

The YouTuber recommends IES Holdings, a key player in data center installations, highlighting its strong growth since the advent of AI, with operating profit doubling in two years. The company has no debt, a significant cash reserve, and actively repurchases shares, indicating strong management confidence. Its data center segment is growing at 24% annually, with further acceleration since 2023.

“Hay otra compañía muy interesante que es IS Holdings, que es quizás menos conocida, pero también es clave porque es líder en el tipo de instalaciones que hacen para data centers. Esta compañía que hemos visto que también está en máximos históricos y una valoración quizás más baja que la de Vertip, pero creciendo similar, eh tiene la parte de el segmento de comunicaciones, que es lo que sirve a los data centers, que es el 34% del negocio, es la mayoría.” — ▶ 37:00

The YouTuber recommends Sprouts Farmers Market as a strong buy, noting its significant undervaluation compared to Walmart (70% cheaper) despite higher growth. The company operates in the growing healthy food sector, has strong EPS growth, improving margins due to private label expansion, and actively repurchases shares, indicating management's belief in its value.

“La compañía es Sprot Farmers ha bajado mucho, ha bajado un 60% porque la gente se emocionó como Walmart cotizaba a un múltiplo muy elevado y en cuanto ha publicado resultados un poquito más débiles que no son catastróficos, pues ha habido esta salida de eh capital y llegó a cotizar a casi a $10 y ahora está a un tercio de valoración a 60.” — ▶ 29:00

The YouTuber recommends Vertiv, a leader in data center cooling systems, due to massive investment in AI infrastructure. The company has a backlog three times its revenue capacity, with new orders up 250%, and expects 30% annual growth in 2026, significantly higher than market expectations.

“Bertie, que es una de las compañías líderes en instalación de eh sistemas de refrigeración para estos adaptacentes, porque consume, genera muchísimo calor y hay que refrigerar eso para que funcione correctamente. Publicó el toía resultados y dijo, 'Oye, los inversores están pensando que vamos a crecer un 20%, pero que no, no, que va a ser un 50% más, va a ser un 30% este anual eh este año 2026 y puede que a medida que recibamos estos pedidos eh sea incluso superior.” — ▶ 35:00

The YouTuber identifies Vertiv as a company similar to Linbatch, specializing in cooling systems for data centers. It's growing at 15% annually and trades at 30 times earnings, having seen significant returns due to its previously low valuation.

“Y Bertip es una compañía de sistemas también de refrigeración. Es muy parecida al Imbatch en este sentido. Está creciendo al 15% anual, cotiza 30 veces beneficios.” — ▶ 48:20

The YouTuber strongly recommends Aena, the Spanish airport operator, as an 'irreplicable asset' and a monopoly. Despite some regulated income, a significant portion comes from non-regulated sources like duty-free shops and parking, which are expected to grow with increasing tourism, especially in Spain.

“En España Ana lo ha hecho increíblemente bien. Es un activo irreplicable, es un monopolio. Hay una parte del negocio que está regulado, pero hay la gran mayoría no está regulado de ingresos que obtienen los aeropuertos por el alquiler de los duty free, los restaurantes, los parkings y muchas otras cosas que suben mucho de precio y que les ha hecho tener ese gran aumento y se espera que el número de turistas aumente.” — ▶ 24:50

The YouTuber suggests United Rentals, a company that rents construction machinery for infrastructure projects, as a compelling investment. It has shown high growth rates in recent years and is currently valued at 13x earnings, which is half the market average, indicating a strong value proposition.

“United Rentals, que se dica al alquiler de maquinaria para construcción de infraestructuras, un sector que además eh ha sido una compañía que ha estado creciendo a tasas elevadísimas los últimos años, pues está una valoración de 13 veces beneficios.” — ▶ 22:10

The YouTuber suggests Enbridge as a stable investment in the infrastructure sector, highlighting its role as a major oil and gas pipeline company. It offers a 7% dividend yield and is considered resilient to AI disruption and economic fluctuations, making it an attractive long-term holding.

“Por ejemplo, Embridge es la principal compañía del mundo de oleeductos y gaseductos, un sector pues eh muy estable que está con una rentabilidad por dividendo del 7%.” — ▶ 20:40

The YouTuber recommends Iberdrola, a Spanish electric utility company, as a good investment due to its nearly 4% dividend yield. The increasing energy consumption driven by AI and the tech sector is expected to benefit such companies, making it a stable choice within a diversified portfolio.

“incluso en España tenemos Iberdrola que aparece en esta lista con una renta de por dividendo de casi el 4%.” — ▶ 21:35

The YouTuber suggests Canadian National Railway as an interesting investment. Its valuations have recently decreased, and rail transport remains an effective and cost-efficient method, making it a resilient asset in a diversified portfolio, unaffected by AI or economic fluctuations.

“compañías de transporte por ferrocarriles e infraestructura relacionada con los ferrocarriles, que también es una forma más efectivas y más baratas de transportar, que han bajado recientemente y han bajado sus valoraciones como Norfolk, también muy interesante, o Canadian National Railway.” — ▶ 21:20

The YouTuber suggests Norfolk Southern, a railway transport company, as an interesting investment. Its valuations have recently decreased, and rail transport remains an effective and cost-efficient method, making it a resilient asset in a diversified portfolio, unaffected by AI or economic fluctuations.

“compañías de transporte por ferrocarriles e infraestructura relacionada con los ferrocarriles, que también es una forma más efectivas y más baratas de transportar, que han bajado recientemente y han bajado sus valoraciones como Norfolk, también muy interesante” — ▶ 21:20

The YouTuber recommends Enel, an Italian electric utility company, as a good investment due to its 6.3% dividend yield. The increasing energy consumption driven by AI and the tech sector is expected to benefit such companies, making it a stable choice within a diversified portfolio.

“Tenemos aquí en él, por ejemplo, una compañía eléctrica italiana también con rentabilidades por dividendo del 6,3%. Y si el tema de la IA hace que consumamos más electricidad, pues son compañías que están eh subiendo en bolsa.” — ▶ 21:00

The YouTuber advises avoiding Walmart due to its high valuation of nearly 50x earnings, which is double the market average. Despite being perceived as a safe haven, its earnings growth has been modest (5% annually over the last 3 years), making its current valuation unsustainable.

“De hecho, la gente se está beneficiando en eh refugiando, perdón, en acciones como Walmart a más de 50 veces beneficios, que es el doble de valoración, el doble de caro de lo que cotiza la bolsa, porque hay pocos sitios de grandes compañías para refugiarse que la gente se sienta segura.” — ▶ 26:50

Bill Gates has invested in Coca-Cola FEMSA, the largest Coca-Cola bottler in Latin America. The YouTuber argues that bottlers often outperform the parent company due to their predictable, recurring business model and strong brand. Coca-Cola FEMSA is highlighted as the cheapest among its peers, trading at 9x EV/EBITDA compared to Coca-Cola's 22x, and is expected to benefit from demographic growth in Latin America.

“Y curiosamente entre todas las embotelladoras y la propia Coca-Cola es la más barata. Si vais por EVIDA, que es la mejor forma de evaluarla, la compañía está cotizando a unas nueve veces EBID, mientras que la propia Coca-Cola, la matriz, que por eso ha dado peor rendimiento, está muy cara, está a 22 veces.” — ▶ 19:00

The YouTuber highlights that Michael Burry and Bill Ackman are investing in Fannie Mae, seeing significant upside potential. They argue that under a new administration, the company, currently trading on OTC markets, will be restructured and relisted on a major exchange, leading to a substantial revaluation. The company is projected to earn $2.60-$3 per share by 2026, making its current $11 price very cheap compared to its potential value of $30-$40.

“está a $ y eh vamos a ver por qué estos grandes inversores piensan que a día de hoy esta acción va a subir a 30 o 40 y Freddy Mac es lo mismo, según ellos tiene el mismo potencial.” — ▶ 05:00

Stanley Druckenmiller is investing in Bank of America. The YouTuber explains that if the anticipated interest rate cuts by the Federal Reserve accelerate, it will stimulate the economy, which in turn will benefit banks like Bank of America.

“y Bank of America, que también si la bajada de tipos que se prevé con el nuevo presidente Res Federal se acelera, pues va a estimular la economía y al final los bancos también se van a beneficiar.” — ▶ 21:30

The YouTuber uses Warren Buffett's investment in Bank of America during the financial crisis as an example of buying during extreme market fear. Buffett invested when shares were very cheap, around $7, despite the stock hitting $6, recognizing it as a top bank with an extremely attractive valuation during a period of widespread despondency.

“This is an example of his investment in Bank of America. The financial crisis arrives, nobody wants to invest in banks, banks collapse. What happens? That here the shares were really cheap in the range of $6 to $7. And we see this news. Warren Buffett invested at the absolute minimum. He invested at an average price of $7 despite the stock touching $6, but he bought more than 5 billion shares of Bank of America.” — ▶ Guarda clip

Michael Burry is investing in Shift4 Payments, which the YouTuber believes he is doing through long-term call options. The company has strong growth in processed volume and revenue, trading at a low valuation (12-13x earnings) compared to its growth rate and peers. It specializes in payment processing for specific industries, has predictable recurring revenue, and plans significant share buybacks and acquisitions like Global Blue, with a target of $1 billion in profits by 2027.

“Sin embargo, está cotizando a valoraciones muy bajas comparado con otras compañías tecnológicas. Estamos hablando de valoraciones de 12 o 13 veces beneficios.” — ▶ 08:00

Stanley Druckenmiller is increasing his position in D.R. Horton, another major US homebuilder. The investment is based on the expectation of declining interest rates, which is predicted to boost the real estate and construction sectors.

“Estas son dos de las principales constructoras de Estados Unidos, también un poco en anticipo de que van a bajar los tipos porque él se mueve mucho por la macro y eso va a animar mucho el sector inmobiliario de constructoras y está cargando la cartera de este tipo de de inversiones” — ▶ 21:00

Stanley Druckenmiller is increasing his position in Lennar, one of the largest homebuilders in the US. This investment is seen as an anticipation of lower interest rates, which Druckenmiller believes will stimulate the housing sector and benefit construction companies.

“Estas son dos de las principales constructoras de Estados Unidos, también un poco en anticipo de que van a bajar los tipos porque él se mueve mucho por la macro y eso va a animar mucho el sector inmobiliario de constructoras y está cargando la cartera de este tipo de de inversiones” — ▶ 21:00

Bill Gates has invested in the Taiwan Fund. The YouTuber suggests this is due to Taiwan's dynamic economy and the calming of geopolitical tensions with China, which is expected to attract more investment. The fund has shown strong historical returns and is currently trading below its net asset value, indicating a potential 20% upside just to reach its intrinsic value.

“El Taiwan fan probablemente, aparte de que la economía de Taiwán está creciendo mucho, es una economía muy dinámica, el tema de la invasión con China ya se ha en los medios y digamos que eso según el estima, pues va a animar a los inversores a volver a invertir y ese flujo de capital pues va a hacer que suban las acciones.” — ▶ 14:50

Michael Burry has made Molina Healthcare a significant part of his portfolio, seeing value after a substantial price drop. Despite recent margin compression due to inflation affecting Medicaid contracts, the company operates in a high-demand, aging population healthcare sector. Analysts expect margin recovery and strong earnings growth, projecting the stock to trade at only 7x future earnings, well below its historical average, and the company is aggressively repurchasing shares.

“Molina Healthcare ha bajado mucho, desde 400 a 140 y ahora Michael Burry es donde está apostando. Vemos que esta compañía de seguros de salud no tiene un problema de demanda.” — ▶ 23:40

Michael Burry is investing in SLM Corp, a student loan company, due to its strong competitive position in a growing sector. The company has low delinquency rates, solid book value growth, and is expected to triple earnings in six years. It trades at a significant discount (7x earnings) compared to the broader market, while actively repurchasing shares and paying dividends.

“Estamos hablando de una compañía que ha triplicado sus beneficios en apenas 6 años. Esto es una tasa de crecimiento del de casi el 20% anual. La empresa aún así cree que las acciones están baratas porque está haciendo recompras muy grandes de acciones, como podemos ver, y pagando dividendos.” — ▶ 20:50

Michael Burry has taken a short position on Palantir, citing its extremely high valuation (80 times sales) as indicative of a market bubble. He believes the stock is significantly overvalued and expects a substantial decline, potentially by December 2025, based on his options strategy.

“De hecho, en el último informe publicado por Michael Burrick, que la ha publicado antes del de tiempo que te exige el regulador y mucha gente afirma si puede con ello intentar influir en el precio de palantir o de Nvidia para que al hacerse público y saber el seguimiento que tiene, tratar de recuperar las pérdidas que estaba acumulando mediante opciones, que es como ha estructurado la operativa de esta puesta bajista en Palantil y en Nvidia” — ▶ 4:00

The YouTuber mentions Palantir as a company performing well in the AI space, referencing a positive report from Cathy Wood. It's presented as a known AI stock with good prospects.

“Palantir, que justo lo hablamos hace eh dos vídeos, vais dos vídeos atrás en el canal y tenéis un informe bastante completo de Cathy Good hablando de porque también Palantir es una acción que que lo está haciendo muy bien.” — ▶ 17:25

Cathie Wood sees Palantir as a high-growth company with a unique software platform that integrates with existing systems, driving strong demand from both government and commercial clients. Despite high valuations, she believes its accelerating growth and high margins justify the investment, surfing the wave before others join.

“El secreto del éxito Palantir es que es una tecnología que no obliga a los gobiernos o a las compañías a sustituir su tecnología actual. Es una plataforma que trabaja a un nivel superior a la infraestructura actual.” — ▶ 04:00

The YouTuber highlights American Express as a favorite of Warren Buffett and an example of a dividend growth stock. He notes its dividend has grown tenfold over 20 years, leading to a similar increase in stock price, and calculates an expected total return of 12% based on current yield and dividend growth rate.

“Aquí podemos ver en los últimos 20 años como American Express ha pasado de pagar un dividendo anual de tan solo 38 céntimos por acción a más de $3. Ha multiplicado por 10 el pago de dividendos. Por ese motivo, la acción también se ha multiplicado por más de 10 veces en bolsa.” — ▶ Guarda clip

The YouTuber presents Mastercard as another example of a strong dividend growth stock in the same sector as American Express. He points out that its dividend has multiplied sixfold in the last decade, with the stock price following this growth trend, indicating a reliable long-term investment.

“Pero es que Mastercard, que es del mismo sector es exactamente lo mismo. Vemos aquí que en el año 2014, hace 10 años, pagaba apenas unos 050 de dividendo por acción y ahora paga $3 por acción. ha multiplicado por seis veces el dividendo.” — ▶ Guarda clip

The YouTuber highlights Bunzl as an interesting European dividend aristocrat, with 32 years of dividend payments. He notes its 3% dividend yield and 6% dividend growth rate, which combine for a 9% expected total return, making it an attractive option for dividend growth investors.

“Tenéis compañías como ejemplo Buns, es bastante interesante, lleva 32 años con rentabilidad del 3% y que hace crecer su divididendo al seis, pues esto daría un nueve compuesto para estas acciones.” — ▶ Guarda clip

The YouTuber identifies Hormel as a stable food products company that has paid dividends for 60 years. He notes its current dividend yield of almost 5% combined with a 4% dividend growth rate, suggesting a 9% expected return. He also highlights its attractive valuation (10-15x earnings) and low debt.

“O Ormel, que es una compañía de productos de alimentación muy estable que lleva pagando dividendos 60 años, que vemos que el dividendo lógicamente crece menos. Es muy difícil encontrar las dos cosas, dividendo alto y que la empresa crezca mucho el dividendo. Pero, por ejemplo, diríamos, "Oye, pues esta empresa me da casi un 5% y va a crecer el dividendo a un cuatro, es un nueve de rentabilidad."” — ▶ Guarda clip

The YouTuber advises against Federal Realty Investment despite its good dividend yield, because its dividend has decreased in recent years. He attributes this to a very high payout ratio, high valuation, and significant debt, making it a potentially risky investment.

“Aquí podéis ver que Federal Realty Investment, que es una empresa inmobiliaria, paga un buen dividendo del 4,6, pero estos años ha decrecido ese dividendo. ¿Por qué? Porque el payout es muy alto y encima las acciones una valoración alta y encima tiene mucha deuda, pues sería quizás una acción a descartar.” — ▶ Guarda clip

The YouTuber mentions Nestlé as a European dividend aristocrat, having paid dividends for 66 years. However, he notes its low dividend growth rate (2%) combined with a 4% yield results in a modest 6% expected total return, suggesting it's not a high-growth opportunity but a stable income provider.

“Tenéis compañías como Nesle que llevan pagando el dividendos 66 años. tiene una rentelé por dividendo del 4%, payout del 72 y solo crece el dividendo a un 2%, pues da una rentabilidad compuesta baja del 6%.” — ▶ Guarda clip

The YouTuber recommends Ares Management, highlighting its strong historical performance with a 26% annualized return over 10 years and significant growth in assets under management. They view it as the 'owner of the casino' in the private credit space, benefiting from recurring fees and a business model that doesn't directly assume the high risks of the underlying loans. The company has high growth projections for earnings per share and assets under management, and its valuation has recently become more attractive due to market fears.

“De hecho, si vemos el juego que ofrecen, que es Ares Capital, que es el vehículo cotizado también de Ares BDC, donde ellos simplemente cobran esas comisiones que cotiza bajo el ticker ARCC, qué curiosidad que desde 2016 solo ha dado en bolsa un 2,4% de rendimiento.” — ▶ 20:00

The YouTuber suggests Western Alliance as a buying opportunity after a recent 21% drop due to concerns over problematic loans. They argue that the bank is highly profitable, has a very low non-performing loan ratio, and has sufficient capital to absorb potential losses from the mentioned $100 million issue, which is small compared to its $7 billion in equity. The bank's exposure to problematic commercial real estate is minimal, and its valuation has become attractive at seven times earnings, compared to its historical average of 12 times.

“Western Alliance es una compañía que obviamente la crisis financiera vemos que sufrió, que el valor en libros por acción, que es una métrica clave en los bancos, pues le descendió de 9 millones a cinco.” — ▶ 35:00

The YouTuber, citing Tom Lee, recommends Goldman Sachs due to its strong performance in investment banking, which benefits from rising markets and increased M&A activity. The company has a history of consistent growth in book value and dividends, and its share buyback program further enhances shareholder returns. Despite being cyclical, its current valuation is reasonable compared to historical averages and the broader market.

“Goldman Sachs puede ser muy beneficiada dentro de la banca de inversión, porque Goldman Sax no es un banco tradicional, lo que se llama un banco de inversión.” — ▶ 22:00

The YouTuber, citing Tom Lee, identifies Sodexo as a high-quality small-cap company currently undervalued. Despite recent short-term headwinds like a special dividend, a spin-off, and weak organic growth, its long-term prospects are strong due to its dominant market position in catering and facility management, benefiting from economies of scale and recurring revenue. Its current valuation at 10x earnings is significantly lower than peers, presenting a compelling investment opportunity as the real economy recovers.

“La empresa va a ganar unos 5,50 € y cotiza a 54 € está a menos de 10 o nueve veces beneficios. Esto pues ha sido un castigo bastante importante que ha sufrido por esa pequeña desilusión que ha habido, que tampoco ha sido fin de mundo.” — ▶ 33:00

The YouTuber, citing Tom Lee, predicts the S&P 500 will exceed 7,000 points by year-end, driven by the historically strong fourth quarter, easing monetary conditions from central banks, and an anticipated recovery in the manufacturing ISM indicator after a prolonged contraction. Additionally, institutional investors are expected to increase their allocations to catch up on missed gains, and retail investors continue to buy dips.

“De hecho, cree que el estándar 500 superará, a pesar de las caídas recientes de estos días, los 7,000 puntos antes de final de año. De ahí esa predicción de los 90 días que explica.” — ▶ 12:45

The YouTuber, referencing Tom Lee, suggests Bitcoin will surpass $200,000 due to increasing institutional adoption, such as sovereign wealth funds investing in it. This trend is driven by a desire to diversify away from government debt and depreciating fiat currencies, positioning Bitcoin as a digital gold equivalent.

“Incluso explica que el Bitcoin debería superar los $200,000 por la la entrada de nuevos inversores, la euforia que hay y también por ese miedo a la deuda de los gobiernos o esa diversificación que busca la gente ante divisas, pues que se están depreciando.” — ▶ 13:00

Cathie Wood predicts Bitcoin will reach $1.5 million by 2030, driven by massive institutional demand following recent regulatory approvals and its limited supply. She views Bitcoin as a digital alternative to gold, serving as a store of value, with its value expected to surge due to increased demand and scarcity.

“Nuestra predicción para 2030 es que cada Bitcoin valga 1,5 millones de dólares.” — ▶ 20:40

Warren Buffett has significantly increased his stake in Mitsui, a Japanese trading house. The company has undergone a strategic repositioning, divesting non-core assets and returning capital to shareholders through buybacks and dividends, which has led to strong earnings growth and attractive valuations compared to US counterparts.

“Warren Buffett se dio cuenta de esto muy pronto en el año 2020, 2019, 21 y por eso ha construido una posición masiva en todas estas compañías porque son las que puede invertir él.” — ▶ 16:00

David Tepper has a large position in NRG Energy, an energy company benefiting from the surge in demand for data centers driven by AI. The company operates primarily in Texas, a favorable regulatory environment, and has a lower valuation (15x free cash flow) compared to peers like Vistra and Constellation Energy, despite similar growth prospects.

“NRG hay que evaluarla por lo que se llama el freecash flow, que son los beneficios más reales. Podemos ver aquí que espera para este año 2025 generar 2,100 millones de beneficio y capitaliza 32,000 millones. Con lo cual, el múltiplo de valoración baja respecto a estas dos compañías a 15 veces beneficios.” — ▶ 24:40

David Tepper has invested in Intel, anticipating a turnaround driven by two key factors: the US government's strategic investment and support for domestic chip manufacturing, and Nvidia's recent $5 billion investment, suggesting Intel will receive more manufacturing orders. This could significantly boost Intel's revenue and profitability due to its high fixed costs.

“Intel tiene las dos cosas, tiene el diseño de chips y la fabricación con fábricas realmente valiosas y avanzadas. Lo que pasa es que últimamente se despistó un poco y no hace bien ninguna de las dos, pero no significa que no tenga su valor y por eso estos grandes impresores están fijando la compañía.” — ▶ 35:00

David Tepper maintains a positive outlook on Tencent, similar to Alibaba, due to the broader bullish sentiment on Chinese tech stocks. He expects the large pool of unspent Chinese savings to eventually flow into the stock market, boosted by central bank policies.

“Las grandes acciones tecnológicas chinas pues son interesantes por este motivo.” — ▶ 30:00

David Tepper continues to hold a significant position in Alibaba, citing the overall undervaluation of Chinese stocks and the potential for a massive influx of domestic savings into the market. He believes the Chinese central bank's easing policies will drive inflation and encourage investment in equities.

“Las grandes acciones tecnológicas chinas pues son interesantes por este motivo.” — ▶ 30:00

David Tepper holds Vistra Energy, another energy company poised to benefit from increased electricity demand due to AI data centers. While its valuation is higher than NRG, it's considered a stable company with new growth drivers from the AI sector.

“Vistra también la tiene David Tepper y también pasó de ser una empresa muy estable, que lo bueno que tenía cuando había crisis y esto no bajaban mucho en bolsa, a que ahora sigue siendo estable, pero ha aparecido el negocio nuevo de la IA y ha hecho que los beneficios empiecen a subir con fuerza.” — ▶ 23:40

The YouTuber recommends Flywire, a payment technology company, highlighting its significant growth potential in large, underserved markets like education and healthcare. Despite a previous stock price drop due to overvaluation, the company is now growing revenue at over 20% and improving profitability, with its free cash flow expected to increase substantially. It is currently trading at a low valuation of 11x EBITDA, below the market average for a high-growth payment processor.

“Flywer es una compañía muy interesante que eh es una compañía tecnológica que había bajado bastante por una serie de eh factores en la actualidad que se están desmontando.” — ▶ 49:00

The YouTuber argues that Waterstone Financial is an undervalued regional bank with a mortgage origination division that the market currently values at zero. He highlights that the mortgage segment's performance is improving significantly, with recent quarterly earnings matching previous annual figures, and the bank's overall profitability is strong. The company also actively repurchases shares and pays a dividend, making it attractive at its current low valuation of 7-8x normalized earnings compared to peers.

“La compañía que vamos a ver es Waterstone Mortgage, ¿vale? Que se en bolsa cotiza como Waterstone Financial. A diferencia de otras compañías, podemos ver que desde estos mínimos que ha estado bajando, pues apenas eh se ha se ha recuperado.” — ▶ 30:00

The YouTuber suggests IMCD, a chemical distribution company, is a strong buy due to its proven acquisition-led growth model and current undervaluation. Despite a recent stock price decline, the underlying business remains robust, with consistent organic and inorganic growth. Lower interest rates will further benefit its acquisition strategy, and the stock is trading at historical low valuations of 14x earnings, well below its historical average.

“Aquí encontramos esta compañía IMCD. Esta compañía ha pasado de la euforia al olvido y ha tenido dos fases muy interesantes en bolsa.” — ▶ 40:00

The YouTuber highlights TSMC as the undisputed leader in microchip manufacturing, essential for AI, comparing it to a 'picks and shovels' play. Despite past concerns about geopolitical risk, its recent growth of over 40% in revenue and 60% in net profit, coupled with a valuation of 25 times earnings (similar to the S&P 500 but with much higher growth), makes it an attractive investment.

“TSM tiene una una ventaja competitiva a la hora de fabricación de microchips muy pequeños con las tecnologías de 3 nanm pues casi casi más delgado que un cabello humano, para poder meter muchos microchips en un espacio muy pequeño y que esos microchips tengan un alto rendimiento para poder entrenar a esas inteligencias artificiales.” — ▶ 18:20

The YouTuber notes Comfort Systems' spectacular results, with 22% growth and net income doubling from $130 million to $240 million, driven by increased margins due to high demand for data center services. It trades at 30 times earnings, in line with other AI stocks.

“Ha crecido un o sigue creciendo al 22% y sobre todo la rentabilidad, el net incom ha pasado de 130 m000ones a 240 m000ones. Porque lo que está sucediendo en estas empresas que de repente han encontrado este boom y donde hay mucha más demanda que oferta es que los márgenes están subiendo.” — ▶ 39:30

The YouTuber presents Vistra Energy as a major electricity producer benefiting from increased AI demand. Its earnings are expected to double in four years, representing 18-20% growth, and it trades at a lower valuation (26x earnings) compared to Constellation Energy, despite higher growth.

“Vistra Energy, que es un caso similar al de Costellation Energy. Es uno de los principales productores de electricidad, no solo a nivel nuclear, sino también de gas natural, carbón, tiene prácticamente todo tipo de producción de de electricidad.” — ▶ 28:50

The YouTuber identifies Constellation Energy as an AI infrastructure play, providing nuclear energy which is crucial for the stable and cheap power consumption of AI data centers. The company is expected to grow at 10% annually and is protected against inflation, despite a demanding valuation of 31 times earnings.

“Costellision Energy es infraestructura para la IA, como comentábamos antes. ¿Y qué es lo que hace la compañía para que haya subido tanto en bolsa de 6 también a 320 y esté de nuevo casi en máximos históricos? Pues lo que provee es energía nuclear.” — ▶ 23:50

The YouTuber notes Oracle's significant contract backlog, which led to a 40% stock surge in one day. It's valued at 50 times earnings with expected growth of 15-20%, making it a good company within the AI basket.

“Oracle, que hemos hablado antes de estos contratos, como ha subido un 40% en un día, está en la oración de 50 veces beneficios con crecimientos esperados del 15 al 20.” — ▶ 22:50

Cathie Wood maintains high conviction in Tesla, projecting a significant price target based on its future potential in robotaxis and humanoid robots. She believes these emerging technologies will drive substantial growth, despite recent short-term challenges in EV market share and financial performance.

“Creemos que en 5 años las acciones alcanzarán un valor de $2,600, esto sin incluir las nuevas tecnologías de los robots humanoides.” — ▶ 16:00

Cathie Wood believes Coinbase will benefit significantly from a pro-crypto regulatory environment and increasing institutional adoption of cryptocurrencies. Despite past volatility, the company is diversifying its revenue streams beyond retail trading, making it a key player in the growing crypto ecosystem.

“El fallo de la SEC a favor de Coinbase desatará una gran cantidad de innovación en torno al Bitcoin y en general dentro del ecosistema cripto.” — ▶ 11:50

Cathie Wood is bullish on Shopify due to its strong market share in e-commerce, user-friendly platform, and ability to attract large brands. The company is expanding margins as it scales and is entering the lucrative online payments market, which is expected to drive significant future growth.

“Shopify a día de hoy está empezando a traer grandes marcas como ReBook, que antes era impensable, que están construyendo su tecnología de e-commerce o de venta online en base a las aplicaciones de Shopify.” — ▶ 08:00

The YouTuber bought IDT in 2020, capitalizing on the market irrationality caused by COVID-19, at a price of around $7. The company is still growing at 20%, has low debt, and good management. Despite its growth, it's no longer a small, unknown company, but it was a highly successful investment from a small fund.

“This company we bought in 2020 taking advantage of what we said, the irrationality generated by COVID with a small investment fund that I had launched at that time. We had 100 million in another fund, but we launched a small one to take advantage of these opportunities with less than 10 million to do what Warren Buffett said and it was one of those that entered the fund at a price of more or less $7 and currently trades for almost $70 and it's curious because it still grows at 20% it barely has debt, the management is good and well, it's no longer such a small and unknown company as it was at the time.” — ▶ Guarda clip

The YouTuber shares a personal success story with Constellation Software, identifying it as a small company growing at 30% (now 15%). This investment multiplied their money by 20 times, demonstrating the potential of investing in smaller, high-growth companies before they become large and their growth slows.

“In fact, one of the best investments I made with little money was buying Constellation Software, these small companies that were growing at 30%, now it continues to grow at 15% and little by little, when it gets bigger, it will stop and will not give this kind of returns. But it was an investment that we multiplied our money by 20 times.” — ▶ Guarda clip

The YouTuber cites Warren Buffett's investment in Apple in 2016 when the market undervalued it at 10 times earnings due to concerns about larger smartphone screens. Buffett recognized that Apple could easily adapt by releasing new products, similar to Coca-Cola's formula change, demonstrating a long-term vision to buy when temporary issues depress the stock.

“Warren Buffett has earned more than 80 billion dollars investing in Apple. In 2016, the market valued Apple shares very cheaply, barely 10 times its annual earnings. Why? Because there was a narrative that they were not going to release smartphone models with larger screens and Samsung was doing it due to a vision that Steve Jobs had, a company policy. And what did the company do? Easy to solve. It saw that it was losing market share, it released the product that the market really wanted.” — ▶ Guarda clip

The YouTuber highlights SAIC as an interesting investment, noting it's a contractor for the American military. Despite fears of defense spending cuts under a new government, which caused the stock to drop, its fundamentals show consistent year-over-year growth. The stock is currently trading at an attractive valuation of 11 times earnings, significantly below its historical average.

“Or for example, SAIC, this is a very interesting company that I invested in at the time. It's a contractor for the American army and recently, as there was fear of the new government in the United States cutting defense spending, all these stocks or government contractors had fallen a lot, but if we look at their numbers, they don't stop growing year after year and now it seems that it will be very difficult to apply those cuts. However, the shares have fallen significantly to a valuation of 11 times earnings when this is usually 50-60% higher than the historical average valuation.” — ▶ Guarda clip

The YouTuber suggests Expedia Group is a good investment because it's part of an oligopoly with Booking.com, controlling most of the online travel market. Despite its strong market position, it's currently trading at a low valuation of 11 times earnings, making it an attractive opportunity.

“Expedia Group is very good business because it's an oligopoly. Expedia and Booking.com control almost the entire market for online hotel and flight bookings. And coincidentally, it's at a low valuation of 11 times earnings.” — ▶ Guarda clip

The YouTuber recommends Wendy's as a good investment, noting it's a fast-food business that tends to perform well even during economic recessions due to its affordable products. The stock is currently undervalued because it's not a 'trendy' investment, presenting a buying opportunity.

“You have the current case of Wendy's, McDonald's competitor, businesses that will always be there, that sell fast food at low prices, that even if there is an economic recession, these businesses tend to do very well because it's the typical product that everyone can afford and currently, as these are not so fashionable stocks and people are investing in other sectors, the price is low.” — ▶ Guarda clip

The YouTuber highlights Visa's oligopolistic market position, allowing for strong pricing power and high margins. They note its inflation-protected business model, consistent double-digit EPS growth, and strong shareholder returns through buybacks and dividends. The current valuation is considered reasonable, aligning with its historical average.

“Visa, la compañía de tarjetas de crédito... es un buen sector por el hecho de que es lo que se conoce como un oligopolio, un sector donde muy pocas compañías controlan todo el mercado.” — ▶ 04:00

Amazon is favored for its diversified business lines, including dominant e-commerce, high-growth AWS cloud services, and rapidly expanding advertising and subscription segments. The YouTuber emphasizes its strong free cash flow growth and the potential upside from AI and cloud computing, despite a higher valuation multiple compared to Visa.

“Amazon siempre ha cotizado los últimos años a un a múltiplo alto por todas estas cosas positivas que hemos comentado y porque estaba teniendo un crecimiento muy elevado y se espera que siga siendo elevado.” — ▶ 15:40

The YouTuber recommends Euronext, the operator of several European stock exchanges, as a high-quality business with monopolistic characteristics and high-profit margins. They argue that lower interest rates will stimulate economic activity and stock market trading, directly benefiting Euronext through increased commissions. The company has a strong track record of growth, dividend payments, share buybacks, and is currently trading at a P/E ratio (15x) comparable to the European market average, despite being a superior business with strong competitive advantages and clear growth targets.

“De hecho euronext 80 y Eh pues ha ido reflejando esa esa subida vale Y es una empresa que ha generado muchísimo valor hace años ganaba 3 por acción y el año que viene se se espera que gane casi 7 por acción a la vez que ha pagado muchos dividendos a los accionistas que habrá que sumar esa rentabilidad y ha dado eh recompras de acciones.” — ▶ 33:40

The YouTuber recommends Aircap due to the severe shortage of commercial aircraft and engines, leading to soaring lease rates. Aircap, as a major aircraft lessor, is expected to benefit significantly as existing contracts renew at much higher rates over the next 2-3 years. The company also has a strong track record, high aircraft utilization, and is currently undervalued compared to its growth prospects and historical P/E ratios, especially with falling interest rates reducing financing costs.

“De hecho aircap que la tenemos en el fondo la principal exposiciones posición histórica que está a tan solo ocho o nueve veces beneficios recompras e tiene contratos de media a unos 6 años vale con lo cual Pues en los próximos 2 TR años gran parte de los contratos antiguos vencerán se renovarán con otros nuevos y eso se eh irá irá reflejando.” — ▶ 20:00

The YouTuber suggests Occidental Petroleum as a buy, noting that investor sentiment in the oil sector is at historical lows, creating a contrarian opportunity. They highlight Warren Buffett's continued accumulation of OXY shares despite a recent price drop. The company has shown strong management by increasing earnings forecasts even with lower oil prices, and its high sensitivity to oil price changes means significant upside if oil demand normalizes with economic stimulus.

“De hecho este año llegó a estar las acciones en 70 80 Warren buffett Estaba comprando a 55 y ahora actualmente caso comprando están a 45 de hecho se puede ver aquí la bajada de casi 70 a casi en línea recta coincidiendo con este sentimiento negativo que hay en todo el posicionamiento de los inversores.” — ▶ 29:00