Market Overview - The S&P 500 experienced significant volatility last week, influenced by various factors including the decline in Bitcoin prices and strong earnings from Nvidia that did not positively impact its stock price [1] - There was uncertainty regarding potential interest rate cuts in December, contributing to market fluctuations [1] Company Performance - Nvidia reported exceptional earnings, but the stock did not see a corresponding increase, indicating possible market skepticism or profit-taking behavior among investors [1] Investment Insights - The average annual return for the private investor mentioned is 17.2%, calculated from January 2009 to the end of 2024, suggesting a strong performance in stock picking and market timing [1]

You can be wrong about 40% of your stock picks and still crush the market — if you let your winners run. ...

Core Insights - Activist investor Jeffrey Smith of Starboard Value presented three high-conviction stock picks at the 13D Monitor Active-Passive Investor Summit in New York this week [1] Company Highlights - The selected stocks include Bill Holdings and two others, indicating a strategic focus on companies with strong potential for value creation [1]

Group 1: Market Overview - The tech, media, and telecommunications sector is performing strongly in 2025, with tech stocks up 20% year-to-date and communications services stocks up 22%, significantly outperforming the S&P 500, which is up 13% [1][2] Group 2: UBS Top Picks - UBS identified 10 buy-rated stocks in the tech and communications sectors, reflecting the bank's highest-conviction calls based on differentiated views and proprietary data [2] Group 3: Individual Stock Analysis - **NIQ Global Intelligence**: Predicted upside of +56%, with expected organic revenue growth of ~5% from 2024-2027 and adjusted EBITDA margin improving by +550bps to 24.1% by 2027 [3] - **Walt Disney Co. (DIS)**: Year-to-date performance of +2% with a predicted upside of +21%. Analysts are bullish on Disney due to parks as a value driver, projecting EPS growth at ~17% CAGR through F27 [4] - **American Tower Corporation (AMT)**: Year-to-date performance of +6% with a predicted upside of +35%. Expected to benefit from increased U.S. carrier activity and international growth, driving 6-8% annual AFFO/share growth from 2025-2027 [5] - **Amazon (AMZN)**: Year-to-date performance of -0.4% with a predicted upside of +23%. Growth is anticipated from investments in e-commerce, cloud, advertising, and satellites, with projected operating margins of 11.3% in 2025, 12.9% in 2026, and 15.7% in 2027 [6]