We are in Abu Dhabi. You come here pretty often. We were just talking about the weather in Abu Dhabi and how it is like.And so, you know, since you're on the ground and you have a presence in this emirate and you come here pretty often, what do you think it would take for the UAE, whether it's Abu Dhabi or Dubai, to establish themselves as global asset management hubs. Or where do you think they are in their cycles right now. I think, as you say, I've been coming here for 32 years, so I've watched it evolve ...

Market Trends - TAO (Bittensor) price increased by 30% within a day, indicating significant market strength [1] Regulatory Developments - Grayscale filed SEC Form 10 for Bittensor Trust, potentially reducing private placement holding periods from 12 months to 6 months, which is perceived as increased legitimacy for TAO among institutions [1] Institutional Investment - Yuma Group recently launched an asset management arm, suggesting potential institutional interest and investment in TAO [1]

Keyrock acquire Turing Capital as it expands into asset and wealth management https://t.co/xMPQ7Lxisq ...

Binance teams with $1.6-trillion asset manager Franklin Templeton on tokenization push https://t.co/FFZ22QemYj ...

Market Trend & Investment Opportunities - The market is close to all-time highs, and despite potential short-term weakness due to Treasury General account requequification, it's time to lean in, presenting buying opportunities [1][2] - The greatest capex boom is yet to come, driven by AI spending, with trillions of dollars still to be deployed in digital infrastructure [2][3] - Weakness in financials, industrials, utilities, and information technology sectors represents buying opportunities [4] - The S&P 500 has rallied almost 30% off the lows, and the NASDAQ has rallied 40% off the lows, indicating a strong profit cycle with potentially another double in the S&P [6][7] AI & Technology - Generative AI hitting the cost line helps margins expand, creating greater profitability and ROI in both public and private markets [8] - Data center buildout, requiring billions and ultimately trillions in spending, creates a catalyst for a full profit cycle [8] Financial Sector - The financial sector, including asset managers, advisors, and lenders, is a buy, supported by infrastructure rebuild and the increasing need for retirement investments [9][10][11] Valuation & Asset Management - An asset-light era is occurring, where companies with less fixed cost relative to labor, strong cash, and balance sheets should maintain higher multiples than historically seen [12] - Multiples sticky at current levels make sense [13]

Investment Focus Shift - BlackRock is pivoting away from traditional asset management [1] Newsletter Theme - The newsletter "Going Private" focuses on private markets [1]