Bank of America(US:BAC) 智通财经网·2025-09-15 02:43Group 1 - The core investment theme on Wall Street is the BIG combination, which includes Bonds, International stocks, and Gold [1] - The strategy of going long on the BIG combination using a barbell approach can help mitigate market volatility caused by the AI bubble [1] Group 2 - Bonds are regaining their status as a risk-hedging tool as nominal GDP growth peaks, with 5-year U.S. Treasury yields approaching 3% and 30-year yields nearing 4% [2] - The end of the "ABB" theme (anything but bonds) is favorable for small-cap stocks sensitive to bonds, which currently have a rolling return rate of -4% relative to large-cap stocks, close to a century low [2] - International assets are expected to benefit from a weaker dollar, the end of deflation in the EU and Japan, and the conclusion of excessive fiscal expansion in the EU and Asian economies [2] - Chinese tech stocks are identified as the optimal choice for hedging against the U.S. AI bubble within the barbell strategy [2] - Gold serves as a hedge against risks of anarchy and dollar depreciation, with its price expected to continue rising despite transitioning from a low-key to a high-profile bull market [2]