Group 1: Bristol-Myers Squibb (BMY) - Bristol-Myers Squibb (BMY) is expected to benefit from a potential capital rotation towards long-duration, cash-generative equities if interest rates remain lower or stable in 2026 [3] - The stock has reclaimed its 200-month moving average and a long-term trendline, with potential upside of nearly 18% to test March 2025 highs of $63, and up to 40% towards a former long-term high of $75 within the next 12 months [5] Group 2: Cameco (CCJ) - Cameco is experiencing increased demand due to the growing interest in nuclear power as an alternative energy source, supported by geopolitical factors and the AI industry's growth [6] - The stock has risen over 80% year-to-date after breaking out of a trading range, indicating potential for further upward movement [8] Group 3: GigaCloud Technology (GCT) - GigaCloud Technology (GCT) has shown significant growth, breaking through a downtrend and achieving a 112% lead for the year, supported by its 20-day moving average [9] - The stock reached a new 52-week peak in December, significantly above its IPO price, with potential for further analyst attention and a possible short squeeze due to a notable percentage of shares sold short [11] Group 4: Baidu (BIDU) - Baidu has seen over 40% growth in 2025, marking a turnaround after years of underperformance, with momentum expected to continue into 2026 [12] - The stock's 20-week moving average has crossed above its 200-week moving average for the first time since 2020, indicating a positive long-term trend [12]

Core Viewpoint - The focus is on long-only investment strategies that evaluate companies from an operational and buy-and-hold perspective, emphasizing long-term earnings power and competitive dynamics rather than market-driven price actions [1]. Group 1: Investment Philosophy - The investment approach prioritizes operational aspects and the long-term potential of companies, suggesting that most recommendations will be holds, reflecting a cautious stance in a bullish market [1]. - The company believes that only a small fraction of companies should be considered for buying at any given time, indicating a selective investment strategy [1]. Group 2: Analyst Disclosures - The analyst has no current stock or derivative positions in the companies mentioned and does not plan to initiate any positions in the next 72 hours, ensuring objectivity in the analysis [2]. - The article expresses the author's personal opinions and is not influenced by compensation from any company mentioned, reinforcing the independence of the analysis [2]. Group 3: General Disclaimers - Past performance is not indicative of future results, and no specific investment recommendations are made, highlighting the need for individual due diligence [3]. - The views expressed may not represent those of the broader platform, indicating a diversity of opinions among analysts [3].

The results show a continuation of trends we had analyzed in previous quarters : cyclical decrease in size of the equity business, and sequentially of theLong-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, the competitive dynamics of the industries where they participate, and buying c ...

Group 1 - The core investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective, rather than market-driven dynamics [1] - The articles emphasize understanding the long-term earnings power of companies and the competitive dynamics within their industries [1] - The majority of recommendations will be holds, indicating a cautious approach to investment opportunities [1] Group 2 - A very small fraction of companies are considered suitable for a buy recommendation at any given time, highlighting a selective investment strategy [1] - Hold articles are intended to provide valuable information for future investors and introduce skepticism in a generally bullish market [1]

Group 1 - The core investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective, rather than market-driven dynamics [1] - The articles emphasize understanding the long-term earnings power of companies and the competitive dynamics within their industries [1] - Most recommendations will be holds, indicating a cautious approach to investment, with only a small fraction of companies deemed suitable for buying at any given time [1] Group 2 - The articles aim to provide important information for future investors and introduce a healthy skepticism towards a generally bullish market [1]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing long-term earnings power and competitive dynamics [1] - Most recommendations will be holds, indicating a cautious approach to market conditions, with only a small fraction of companies deemed suitable for purchase at any time [1] Group 2 - The articles aim to provide important information for future investors and introduce skepticism in a generally bullish market [1]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing long-term earnings power and competitive dynamics [1] - The majority of recommendations will be holds, indicating a cautious approach to market conditions and a belief that only a small fraction of companies are suitable for buying at any given time [1] Group 2 - The articles aim to provide important information for future investors and introduce skepticism in a generally bullish market [1]

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing the long-term earnings power of companies [1] - The majority of recommendations will be holds, indicating a cautious stance in a bullish market [1] Group 2 - A small fraction of companies are deemed suitable for a buy at any given time, highlighting a selective investment approach [1] - Hold articles are intended to provide valuable information for future investors and introduce skepticism in a generally optimistic market [1]

Group 1 - The core investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective, rather than market-driven dynamics [1] - The articles emphasize understanding the long-term earnings power of companies and the competitive dynamics within their industries [1] - The majority of recommendations will be holds, indicating a cautious approach to investment opportunities [1] Group 2 - A very small fraction of companies are considered a buy at any given time, highlighting a selective investment strategy [1] - Hold articles are intended to provide valuable information for future investors and introduce skepticism in a generally bullish market [1]