Marino: Long-term we've only started to build & restore defense systems for NATO and the U.S.

Market Trends & Investment Opportunities - European defense stocks are experiencing a pullback, potentially a "sell the news" reaction after strong performance [2][3][4] - The long-term outlook for defense spending in NATO countries and the US remains positive, suggesting further growth potential for defense companies [4] - Ryan Mattel has more than doubled and BAE Systems has more than tripled over the last year [3] - Dips in stock prices are viewed as opportunities to increase investment in defense companies [4] Company Focus & Strategic Positioning - Rheinmetall, as the largest defense company in Germany, is expected to benefit from Germany's commitment to rebuild its defense capabilities [5][6] - BAE Systems is highlighted as a leader in defense, ammunition, and propulsion equipment in Europe, positioning it as a key beneficiary of increased defense spending [6] - US companies like Lockheed Martin, Northrop Grumman, and RTX are expected to benefit from NATO's need for advanced defense technology, even with a potential peace agreement [9] Specific Companies & Potential Beneficiaries - Rheinmetall's stock is up over 150% and up over 50% year-to-date [5] - Northrop Grumman and Axon Enterprise are identified as potential beneficiaries if U S peacekeeping forces are deployed, due to their products like drones, body cameras, and tasers [7]