In August I published my first coverage of the Global X Defense Tech ETF ( SHLD ). Today, four months later, reading the latest news about Ukraine, the use of frozen Russian assets and the new German defense package, among other news, I find thatI’m an economist and independent investor from Argentina. I focus on connecting macroeconomic dynamics with company-level valuation to identify long-term opportunities. Living in Argentina gives me a firsthand view of one of the most complex and dynamic markets, whi ...

Core Insights - David Rosenberg, a well-known economist and founder of Rosenberg Research, has created a fund based on his bearish predictions, which has performed well in the current market environment [1][4]. - The Rosie Macro Fund has achieved a 28% return year-to-date, significantly outperforming the S&P 500's 14% gain [2][3]. - The fund's performance from February to April 2023 showed an outperformance of over 1,200 basis points compared to the S&P 500 and 460 basis points compared to a typical 60/40 portfolio [3]. Fund Composition - The Rosie Macro Fund includes a diverse range of investments, focusing on capital preservation and cash flows, with the following key holdings: - US Treasury 10-year Note ETF (9.8%) - US Treasury 2-Year Note ETF (9.0%) - Global X Defense Tech ETF (7.1%) - Global X Uranium ETF (6.6%) - STOXX Europe Aerospace & Defense ETF (6.6%) [5][7]. - The fund is in the process of being rolled out as a publicly listed ETF, with a potential launch as early as January [6][7].

Core Insights - The Global X Defense Tech ETF (NYSEARCA: SHLD) has experienced an impressive growth of 80% over the past twelve months, attributed to record financial growth and a significant order backlog [1] Group 1: Financial Performance - The ETF's performance is driven by companies involved in defense-related technologies, which have shown substantial contributions to its growth [1] Group 2: Market Trends - The article highlights the increasing interest in defense technology investments, suggesting a favorable market trend for related companies [1]